Updated Oct 29, 2024
Private Family Fund Acquires Property At 2390 Crenshaw BLVD Torrance For $16.9M With Eric Vu As Seller's Rep
2390 Crenshaw BLVD, Torrance, CA, 9...
$16,900,000
$603/SF
Building Size
28,000 SF
Asset Type
Retail
Closing
Nov 20, 2023
About this deal
AI
The property asset involved in this transaction is a multi-tenant retail center located at 2390 Crenshaw Blvd, Torrance, CA. The retail center, known as Pacific Plaza, spans 28,000 square feet and is situated in the Torrance market. It was acquired by a private family fund for $16,900,000. The property is currently leased to tenants including Woori Bank, Subway, and The UPS Store.
Summary of transaction details:
- Property Type: Multi-tenant retail center
- Transaction Amount: $16,900,000.00
- Address: 2390 Crenshaw Blvd, Torrance, CA
- Market: Torrance
- Square Footage: 28,000 SF
- Seller's Representative: Eric Vu
- Buyer: Private Family Fund
Eric Vu, associated with Newport Beach-based Anchor Point Capital, facilitated the transaction. The seller remains undisclosed. The tenants at the property add to its profile as a retail center with diverse offerings for the community.
Players
Torrance 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
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93