Successful Sale of Prime Retail Strip Center in Torrance Sets New Benchmark in Market
Sheri Messerlian, the Executive Vice President, alongside David Shaby, Vice President of the Retail Services Group in our South Bay office, recently achieved a noteworthy milestone. They successfully facilitated the investment/owner user sale of a retail strip center spanning 15,234 square feet in Torrance, California. It is with great pleasure that we announce Sheri and David’s outstanding representation of both the seller, Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, throughout this transaction. The sale was finalized at an impressive price of $6,650,000, equating to an impressive rate of $436 per square foot.
Sylvia Square, is an exceptional retail destination situated in the highly sought-after South Torrance market area. Spanning approximately 1.14 acres at 23811-31 Hawthorne Blvd, this property offers an impressive range of features that make it a standout choice for both businesses and shoppers. Built in 1974, Sylvia Square spans an impressive 15,234 square feet, offering ample space for businesses to thrive. The property boasts a parking ratio of 5 per 1,000 square feet, providing convenient parking options for visitors. Moreover, with a notable Walk Score of 81, Sylvia Square ensures easy accessibility for shoppers, making it an ideal destination for those seeking a seamless retail experience.
This successful deal not only showcases the expertise and dedication of our team but also highlights the immense potential and desirability of the Torrance retail market. We are proud to have played a pivotal role in connecting two parties and ensuring a seamless transaction for all involved. This achievement further solidifies our commitment to delivering exceptional service and results to our clients.
Stay tuned for more updates on our team’s remarkable accomplishments as we continue to make waves in the real estate industry.