A retail asset that makes up a portion of the larger mixed-use Del Amo Crossings in Torrance has recently been placed up for sale. The 51,848 square foot shopping center has been placed up for sale with an asking price of just over $27 million, or approximately $521 per square foot, according to marketing information from Newmark.
The property is located at 21501 & 21503 Hawthorne Blvd. on nearly 1.5 acres. Built in 2018, the property is fully leased across both of its buildings. Since 2020, public records show that Del Amo Crossing has been owned by an entity linked to The Muller Company, a real estate investment, management and development firm based in Irvine.
The largest tenant at the property is 24 Hour Fitness, which occupies 45,808 square feet of the total space. The other two tenants include First Bank and Urban Plates.
The 24 Hour Fitness location is one of the top locations in Los Angeles, according to Newmark, with more than 1.1 million visits in the last year. The 24 Hour Fitness facility was developed as a flagship location and has 12 years remaining on its lease term.
The two buildings are part of the larger 367,789 square foot Del Amo Crossings office and retail campus. The campus is situated near Interstate 405 and across the street from the 2.5 million square foot Del Amo Fashion Center, one of the largest malls in the country. The mall is anchored by a flagship Nordstrom with other tenants including Macy’s, Dick’s Sporting Goods, Mitsuwa Marketplace and others.
Hawthorne Boulevard is the primary South Bay commercial corridor, which sees more than 69,000 vehicles per day. Within the five-mile radius of the property, there are 510,432 residents with an average household income of $153,480 per year.
“Torrance continues to be one of the most dynamic retail submarkets in Los Angeles County fueled by a dense and affluent population base including the communities of Palos Verdes and the Beach Cities. The daytime demographics are also impressive with major employers such as Honda, Torrance Memorial, and Honeywell all in close proximity,” the listing states.
