DAILY BREEZE REAL ESTATE
Torrance strip mall sells for more than $10 million
A Santa Monica-based real estate investment firm has purchased a Torrance strip mall for $10.65 million in cash, which the brokers involved in the deal said indicates demand is outpacing supply in the commercial real estate market.
Hanley Investment Group Real Estate Advisors announced the sale of Pacific Plaza, a 23,438-square-foot shopping center at the northeast corner of Sepulveda and Crenshaw boulevards in Torrance, for $10,650,000.
Metro Properties purchased the 2.15-acre property at Sepulveda and Crenshaw boulevards from Vancouver, Wash.-based Holt Group, said Irvine-based Hanley Investment Group Real Estate Advisors, which represented both the buyer and seller.
The fully occupied 23,438-square-foot strip mall, built in 1992, includes as tenants The UPS Store, Subway, H&R Block and a nail salon.
“The closing of this multi-tenant retail property is continued evidence of the high demand for good quality retail property that is located in major metropolitan areas,” said William B. Asher, managing director of Hanley.
— Nick Green
Attend the 19th Annual Halloween Ball benefiting The Children of Pediatric Therapy Network.
Offered by the Torrance Historical Society 1:30 p.m. every 4th Sunday of the month through October, the tour lasts approximately 90 minutes and are docent-led. Meet at the Torrance Historical Society and Museum, located at 1345 Post Avenue.
For more information, call 310 328-5392.
From the Torrance Historial Society:
During this docent-led walking tour of Old Torrance Historic Buildings, you will tour some of the hip restaurants in Old Torrance for a sip and snack, and get a peek into the past behind the brick and mortar.
When Torrance was founded 100 years ago, business began to build. Downtown Torrance, which was in the center of the original footprint of the City, soon became the heartbeat of the town. A century later, many a business has come and gone through those old buildings – they each have a story to tell.
Not only will you learn the building’s history, we’ll show you old photos of the “before”, as you stand in the “now.”
Who: For Adults only (must be 21 years or older)
When: Thursday, August 7th, 6:00PM SHARP! – You must be on time!
Starting Location: Meet at Torrance Historical Society & Museum, 1345 Post Avenue.
Buildings on Tour:
- The Red Car Brewery & Restaurant
- Tortilla Cantina
- Buffalo Fire Dept.
- Antigua Cafe
- Just Luigi’s
- Amore Vino
- Torrance Bakery
RSVP via 310.328.5392 or via email email@example.com
$30.00 per person – Reservations required. Space is limited.
Make checks payable to: “Torrance Historical Society” No credit cards accepted.
Reservations honored on a first come/first-served basis. Payment must be received within 48 hours of reservation in order to hold your spot. This was a sold-out event last year.
If you have any questions or would like additional information, please visit http://www.torrancehistoricalsociety.org or call the Museum at (310) 328-5392.