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22217 Palos Verdes BLVD, To...

Updated Oct 29, 2024

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

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

22217 Palos Verdes BLVD, Torrance, C...

$21,000,000

$313/SF

Building Size

66,958 SF

Asset Type

Retail

Closing

Feb 16, 2018

About this deal

AI

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.

On the Map

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$21,000,000

$313/SF

Retail

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Players

Richard Chichester

Broker

$79.3M

vol

4 deals

Broker
PI
Private InvestorBuyer
BU
BIG Shopping Centers USASeller
Bilt advertisement

Torrance Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $313 per square foot on a published $21M for 66,958 square feet (2018).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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