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

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.