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June 24, 2019
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Torrance Lowe’s Property Goes for $47.5 Mil


A 127.4k sf, freestanding property fully leased to Lowe’s Companies Inc sold for $47.5 mil. The property, located at 22255 S. Western Ave, was sold by The Shorenstein Company to Wilson Torrance LLC.

One of the top performing Lowe’s Home Improvement locations in California, the tenant previously signed a long term lease occupying the property until March 31, 2029. The Lowe’s, which sits on a 12.74-acre site, includes a 30k sf garden center and 750 parking spaces with six street access points.

The property is located at the intersection of South Western Ave and West 22rd Street and is less than 10 miles from Manhattan, Hermosa, and Redondo beaches. The centrally located in-fill site benefits from close proximity to major highways, high traffic commuter arteries, and commercial corridors in the greater Los Angeles area.

Christopher Sheldon, Andrew Bogardus, Douglas Longyear and Stephen with Cushman & Wakefield represented the seller. The buyer represented itself in the transaction.

“This was a prime corner infill South Bay Los Angeles County site of almost 13 acres with great visibility, surrounding demographics and an established long-term credit tenant,” said Sheldon, Managing Director in Cushman & Wakefield’s Capital Markets Net Lease Group.

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