facebook
Traded Co logo
Submit

Private Investor Acquires Southwood Village Retail Center In Torrance For $21M

Property Image
SOLD
$21,000,000

California

See Similar Deals
Retail66,958 SF
Sold 02/16/2018
the dealplayerscompscontact
Property Image
SOLD

Private Investor Acquires Southwood Village Retail Center In Torrance For $21M

22217 Palos Verdes BLVD, Torrance, C...

See Similar Deals
Retail66,958 SF
Sold 02/16/2018
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$313
Total Square Footage:66,958 SF
Transaction Type:Sale

Located in Torrance, Calif., Southwood Village is a 66,958-square-foot neighborhood retail center situated at 22217 Palos Verdes Blvd. The property was recently sold for $21 million in a transaction overseen by Faris Lee Investments on behalf of the seller, Big Shopping Centers USA, and Triwell Properties representing the buyer, a private investor from the South Bay region.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $21,000,000.00
  • Market: Torrance
  • Seller's Representative: Richard (Rick) Chichester
  • Buyer: Private Investor
  • Square Footage: 66,958

The sale of Southwood Village involved notable individuals and companies. Donald MacLellan, the senior managing director at Faris Lee, highlighted the complexity of the transaction due to the assumption of a $10 million CMBS loan by the buyer. Triwell Properties played a crucial role in representing the private investor, who participated in the deal as a 1031-exchange investor based in the South Bay.

Players

Richard (Rick) Chichester
Richard Chichester
4 deals$79.3M volume
BROKER
BU
BIG Shopping Centers USA
SELLER

Details

SOLD
IMAGE: 02/16/2018 ADDRESS: 22217 Palos Verdes BLVD, Torrance, C... MARKET: Torrance ASSET TYPE: Retail SELLER'S REP: Richard (Rick) Chichester() BUYER: Private Investor SELLER: Big Shopping Centers USA PRICE: $21,000,000.00 SF: 66958

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,120,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56