Walmart Acquires Fully Leased Retail Outparcel In Torrance For $8M
1400 W 190th St Torrance, CA 90501, USA
$8,000,000
Building Size
—
Asset Type
Retail
Closing
May 31, 2023
AI
Faris Lee Investments has sold a fully leased retail outparcel in Torrance, California to Walmart for $8 million. The outparcel, located in South Bay Towne Center, is situated at 1400 West 190th Street. It is a retail property in the Torrance market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 1400 West 190th Street
- Market: Torrance
Faris Lee Investments acted as the broker for the deal, representing Walmart as the buyer. The lender involved in the transaction was JP Morgan. The retail outparcel in Torrance houses popular tenants including Starbucks, Subway, and Sushi Boy.
Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93