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RETAIL NEWS
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Torrance Retail Center Trades for $7.9 Mil

8/05/16

Artesia & Prairie Center, a fully occupied, corner strip mall in Torrance, was purchased by a private investor for $7.9 mil. The 13.4k sf ($590/sf) property, located on a 51.6k sf lot at 3931 and 3971 Artesia Blvd, east of Hawthorne Blvd, was sold by Makena Great American Prairie, a Las Vegas-based real estate company.

The property contains 12 tenants, including daily-use service providers and well-known coffee and food retailers. It is visible from the adjacent 405 Fwy. The center, which is 100% leased, is located in a market with nearly 300,000 people with an average household income of $86,000 in a three-mile radius, and more than 56,800 cars are traveling past the retail center each day.

CBRE’s Alex Kozakov and Patrick Wade represented the seller. The buyer was repped by Lee & Associates.





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