SOUTHWOOD VILLAGE

TORRENCE, CA

$21,000,000

66,958 SQ FT.

Southwood-Village

AT A GLANCE

  • Rare South Bay retail investment offering in a mature trade area with high disposable incomes.

  • Ideal mix of discount and daily needs with a strong daytime employee population.

  • Primary neighborhood center serving the immediate trade area.

CHALLENGES

  • Aggressive seller pricing expectations with low cash returns.

  • Required $10M plus down payment with less than 50% LTV, existing long-term CMBS debt.

  • Center was bifurcated by Palos Verdes Blvd, looked like two different centers with limited parking up front.

MARKETING STRATEGY

  • Positioned the strength of the trade area with significant barriers to entry.

  • Focused on the center as the primary neighborhood center for the immediate area.

  • Stressed the ability to upgrade the tenant mix with strong food operators and increasing the below market rents.

RESULTS

  • Generated 8 credible offers with strong credible family offices.

  • Closed at 5.6% cash, cash return on a $10M down payment (less than 50% LTV).

  • Exceeded seller expectations and closed at contract price.