OlivePoint Capital has scooped up 3507 Jack Northrop Avenue, a 40,553-square-foot aviation-connected R&D and advanced-manufacturing campus next to Hawthorne Municipal Airport. The fee-simple hangar complex is leased long term to a high-grade electric-vehicle and advanced-manufacturing tenant and will stay in operation under its new owner. The sale highlights ongoing investor demand for specialized industrial real estate in the South Bay.
In a June 9 press release, OlivePoint said it closed the acquisition in partnership with a global alternative asset manager and described the campus as a rare fee-simple aviation-connected facility with direct runway access. According to Business Wire, the buyer emphasized the asset's mix of specialized infrastructure and durable, credit-backed cash flow.
Why the site matters
"3507 Jack Northrop is exactly the type of differentiated real estate we seek to own," OlivePoint's Adrian Bejarano said. He told Business Wire that the combination of fee-simple ownership, runway access and mission-critical tenant improvements gives the property both durable income and long-term optionality.
Tenant and building features
The property's offering memorandum and marketing materials list Tesla as the tenant, showing the campus is 100% leased to Tesla through April 2038 and includes a 17,969-square-foot hangar with a 40-foot clear height, a terminal building, industrial R&D space and an on-site fuel farm. The document also notes roughly 10,000 square feet of fee-simple ramp and technical tenant improvements that support advanced testing and aerodynamic work; see the CBRE offering memorandum for details.
Local ties and history
The campus sits in Hawthorne's Century Business Center alongside SpaceX, Tesla's Design Center and other aerospace firms, a cluster that marketing materials say has driven near-zero vacancy for hangar space. The site's prior transfer came in a 2023 bankruptcy sale when Sherwood Real Estate Partners paid about $13.4 million, according to The Real Deal. The City of Hawthorne notes the adjacent airport, Jack Northrop Field, has been repositioned for next-generation mobility after a 2025 master-lease assignment and investment in airport operations, a shift that is raising strategic value for nearby aviation assets.
What it means for the market
CBRE's materials argue that true fee-simple hangars are exceedingly rare, roughly 1% of airport-adjacent hangars nationwide, and that this scarcity helps lift valuations for aviation-ready, mission-critical properties. OlivePoint's public materials show the firm targets differentiated, middle-market special situations where specialized infrastructure and durable cash flow create value. See the CBRE brochure and OlivePoint's site for background.
For Hawthorne, the deal locks in a growing pattern: investors are willing to pay for aviation-ready industrial real estate that offers steady, credit-backed rent and operational optionality. With the campus reportedly leased through 2038, local landlords and industry watchers will be tracking how owners leverage proximity to aerospace and EV manufacturing hubs in the South Bay.
