search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealGlossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseBillionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida moveBrookfield’s deal to sell 777 Tower in Downtown LA collapsesBrookfield’s deal to sell 777 Tower in Downtown LA collapses
Commercial
Los Angeles

Charing Cross buys Wal-Mart anchored Torrance shopping center

London-based investor paid $40M for South Bay Village property

19330 Hawthorne Boulevard (Google Maps, iStock)
19330 Hawthorne Boulevard (Google Maps, iStock)

A Torrance shopping center anchored by Wal-Mart sold for $39.7 million.

London-based investment firm Charing Cross bought the South Bay Village property from Florida-based Regency Centers, according to Commercial Observer.

The property has a total of 107,539 square feet of leasable space. The Wal-mart includes a grocery store. Home Goods and El Pollo Loco are among the other tenants. The complex was built in 1971 and most recently renovated in 2012. Outdoor shopping centers or strip malls and outlets have been outpacing enclosed malls in the pandemic.

Sign Up for the undefined Newsletter

The Torrance shopping center at 19330 Hawthorne Boulevard is next to the Torrance Promenade. That complex is home to a Trader Joe’s, Marshalls, Ross Dress For Less, and Burlington Coat Factory.

Los Angeles’ retail industry, as a whole, is struggling after a long year in the shadow of the coronavirus. Foot traffic at major L.A. retail corridors fell 41 percent between the first week of March and mid-July.

There was a single nine-figure retail investment sale that closed in L.A. County last year. [CO] — Dennis Lynch 

Tags
Retail Real EstateTorrance