Private Investor Pays $21M for Southwood Village in Torrance

February 16, 2018
Grey Wolf Properties LLC acquired the Southwood Village retail center at 22214-22252 and 22217-22251 Palos Verdes Blvd. in Torrance, CA from BIG Shopping Centers USA, Inc. for $21 million, or about $314 per square foot. 

The center totals 66,958 square feet on 5.5 acres in the Beach Cities / Palos Verdes submarket of Los Angeles County. The center was constructed in the mid-1950s and renovated in 2003. 

At the time of sale, the center was 97 percent leased to tenants including Dollar Tree, Ace Hardware, Goodwill and Chevron. 

As part of the sale, which represented the buyer’s upleg in a 1031 Exchange, the buyer assumed an existing CMBS loan totaling $10.4 million. 

Rick Chichester and Donald MacLellan of Faris Lee Investments represented the seller. Matt Crawford with Triwell Properties, Inc. represented the buyer. 

Please see CoStar COMPS #4127489 for more information on this transaction.

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