Luke Palmo Of WESTMAC Commercial Brokerage Company Sells Retail Property In Torrance For $39.7M
SOLD
$39,700,000
California
See Similar DealsRetail107,539 SF
SOLD
Luke Palmo Of WESTMAC Commercial Brokerage Company Sells Retail Property In Torrance For $39.7M
19330 Hawthorne BLVD, Torrance, CA...
See Similar DealsRetail107,539 SF
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$369
Total Square Footage:107,539 SF
Transaction Type:Sale
The shopping center located at 19330 Hawthorne Blvd. in Torrance, known as South Bay Village, has been sold for $39.7 million. This retail property, built in 1971 and renovated in 2012, spans 107,539 square feet of retail space. The property includes tenants such as Home Goods, Walmart Neighborhood Market, Orchard Supply Hardware, Marshalls, and El Pollo Loco.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $39,700,000.00
- Address: 19330 Hawthorne Blvd, Torrance, CA
- Market: Torrance
Charing Cross acquired South Bay Village from Regency Centers in Torrance. Representing the seller and buyer in this transaction were Bill Bauman and Kyle Miller of Newmark, along with Luke Palmo from Westmac Commercial Brokerage Co.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,117,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$141,045.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$188,198.25
Annual Debt Service$2,258,379.05
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