Retail Site in Torrance Trades for Residential Redevelopment
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CBRE closed the $21-million sale of 22501 Hawthorne Blvd., a 3.82-acre redevelopment site in Torrance, to Intracorp Homes. The team of John Read, Greg Sullivan and Trent Steeves represented the seller, a locally based private investor.
The property has historically been configured as a multi-building and multi-tenant retail center, with Gable House Bowl as the primary occupant. Intracorp Homes plans on redeveloping the site into a luxury mixed-use project to include 17 affordable residential units and commercial components.
“22501 Hawthorne Blvd.’s irreplaceable South Bay location near the intersection of Hawthorne Boulevard and Sepulveda Boulevard, and the opportunity to redevelop the site into a higher and better use, generated significant offer activity from residential and retail developers,” said Read.
Retail Site in Torrance Trades for Residential Redevelopment
Retail Site in Torrance Trades for Residential Redevelopment
[ad_1]
CBRE closed the $21-million sale of 22501 Hawthorne Blvd., a 3.82-acre redevelopment site in Torrance, to Intracorp Homes. The team of John Read, Greg Sullivan and Trent Steeves represented the seller, a locally based private investor.
The property has historically been configured as a multi-building and multi-tenant retail center, with Gable House Bowl as the primary occupant. Intracorp Homes plans on redeveloping the site into a luxury mixed-use project to include 17 affordable residential units and commercial components.
“22501 Hawthorne Blvd.’s irreplaceable South Bay location near the intersection of Hawthorne Boulevard and Sepulveda Boulevard, and the opportunity to redevelop the site into a higher and better use, generated significant offer activity from residential and retail developers,” said Read.
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