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4/17/15
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Village Center, a 31.2k sf, multi-tenant retail center in Torrance, sold for $11 mil, or $353/sf. The buyer was a Los Angeles-based private investor.
Built between 1972 and 1976 on approximately 2.6 acres at 4170 Pacific Coast Highway, the center is located at the entrance of the affluent Rolling Hills and Rancho Palos Verdes neighborhoods. Rancho Palos Verdes is the home to the Trump National Golf Club and Terranea oceanfront resort. The property is adjacent to a Walgreens-anchored shopping center and close to major retailers such as Sprouts Farmers Market, Michaels, Bank of America, U.S. Bank, O’Reilly Auto Parts and Papa John’s Pizza.
Simon Mattox, a member of Marcus & Millichap’s National Retail Group based in the firm’s West Los Angeles office, represented the seller.
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