24451 Crenshaw Boulevard
Torrance, CA 90505 ·
128,123 SF · Retail For Sale
Home Depot & Shops at Torrance Crossroads
|Gross Leasable Area||128,123 SF||No. Stories||1|
|Property Sub-type||Power Center||Year Built||1992|
|Property Use Type||Investment||Lot Size||15.24 AC|
|Cap Rate||5.50%||APN / Parcel ID||7377-012-017|
|Listing ID: 14363749||Date Created: 10/10/2005||Last Updated: 10/24/2006|
This Offering provides an investor the unique opportunity to acquire a Class A shopping center anchored by a national credit tenant in a premier retail trade area of Southern California.
The property consists of an approximate 121,156 square foot Home Depot store and 6,967 square feet of shop space including a Starbucks and Dairy Queen. The property enjoys an outstanding location at the base of the Palos Verdes Peninsula at the intersection of Crenshaw Boulevard and Lomita Boulevard in the city if Torrance.
The property is part of Torrance Crossroads, a 492,233 square foot regional power center that is anchored by other national credit tenants including Sam's Club, Vons, Longs Drugs, Petco, In-N-Out and Wells Fargo.
The Palos Verdes Peninsula contains some of the most affluent neighborhoods in the country with an average annual household income in excess of $275,000. The median household income levels for the primary trade area are nearly 40 % higher than the statewide figure, reflecting the affluent nature of the trade area. Within the five mile area, nearly 71,190 of the household incomes are $75,000 or greater.
Situated in the heart of the South bay, the City of Torrance is the largest region with a population over 146,204 persons and an average annual household income in excess of $82,850. The primary trade population ranges from 182,407 to 479,262 persons within the three and five mile areas. The relatively modest projected increase in population for the five and seven mile areas from through 2010 reflects the fully developed nature of the area.
- Investment Grade Asset
- Huge Sales Volume
- Significant Barriers to Entry
- Outstanding Location
- Premier Retail Trade Area
- Excellent Tenant Mix
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