Faris Lee Brokers $21M Sale 66,958 SF Retail Center in Torrance, California
TORRANCE, CALIF. — Faris Lee Investments has arranged the sale of Southwood Village, a neighborhood retail center located at 22214-22251 and 22217-22251 Palos Verdes Blvd. and 5230 Sepulveda Blvd. in Torrance.
Los Angeles-based BIG Shopping Centers USA sold the property to a private investor for $21 million. Situated on 5.5 acres, the 66,958-square-foot property was built in the 1950s and renovated in 2013.
At the time of sale, the property was 97 percent occupied by major tenants, including Dollar Tree, ACE Hardware, Goodwill and Chevron.
Richard Chichester and Donald MacLellan of Faris Lee represented the seller, while Triwell Properties represented the buyer in the transaction.