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January 24, 2021
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Charing Cross Makes $39.7 Mil Retail Buy in Torrance


South Bay Village, a 107.5k sf, grocery-anchored shopping center in Torrance, was acquired by Charing Cross in a $39.7 mil ($369/sf) transaction. The retail asset was sold by Regency Centers.

Located at 19330 Hawthorne Blvd, South Bay Village is occupied by nationally recognized tenants including Homes Goods, Wal-Mart, and El Pollo Loco. The property benefits from a dedicated signalized access point, best in class tenants and cross-shopping with neighboring Torrance Promenade, a 270k sf center anchored by Trader Joe's, Marshalls, Ross, Party City and Burlington Coat Factory.

Built in 1971 and renovated in 2012, South Bay Village is situated on arguably one of Los Angeles County’s strongest commercial corridors with nearly 72,025 cars passing per day. Hawthorne Boulevard, the heartbeat of the South Bay, services Manhattan Beach, Hermosa Beach, Redondo Beach, Palos Verdes Peninsula, El Segundo, Torrance, Gardena and Hawthorne.

Bill Bauman and Kyle Miller with Newmark along with Luke Palmo of Westmac Commercial Brokerage Company, represented both parties in the transaction.

“South Bay Village presented a unique opportunity for the buyer to acquire a strong performing grocery anchored center with exceptional credit tenants that is located in the heart of one of the strongest retail corridors in Southern California,” said Bauman. “This is a win-win for both the seller and the buyer in terms of pricing and execution.”

Torrance is a coastal community in southwestern Los Angeles County with 1.5 miles of shore-front beaches. The average household income exceeds $94,000, within a three mile radius of South Bay Village.

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