Intracorp Homes Acquires 3.82-Acre Development Site In Torrance For $21M

CBDRE has sold a 3.82-acre redevelopment site located at 22501 Hawthorne Boulevard in Torrance, California. The development site was purchased by Intracorp Homes for $21 million. Intracorp Homes plans to transform the property into a luxury mixed-use project, which will include affordable residential units and commercial components.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $21,000,000
• Market: Torrance
• ACRES: 3.82
• Buyer: Intracorp Homes
• Brokers: John Read, Greg Sullivan & Trent Steeves - CBRE
• Date: 06/26/2023

The sale of this 3.82-acre development site in Torrance, California, was successfully facilitated by the team of brokers from CBRE, including John Read, Greg Sullivan, and Trent Steeves. Their expertise and negotiation skills played a vital role in securing the transaction between CBRE and Intracorp Homes. The acquisition of this property presents an exciting opportunity for Intracorp Homes to create a luxury mixed-use project that caters to the residential and commercial needs of the community.