Los Angeles, CA – May 23, 2023 – NAI Capital Commercial is pleased to announce that Executive Vice President Sheri Messerlian, along with Vice President David Shaby from the Retail Services Group in the South Bay office, successfully completed the investment/owner user sale of a 15,234 square foot retail strip center in Torrance, California. Sheri and David represented both the seller, Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, in the transaction. The sale price totaled $6,650,000, or $436 per square foot.
Sylvia Square is located on approximately 1.14 acres at 23811-31 Hawthorne Blvd in the highly sought-after South Torrance market area. The property, built in 1974, spans 15,234 square feet and offers outstanding street visibility, monument signage, and an impressive 200 feet frontage on Hawthorne Boulevard. It also provides a parking ratio of 5 per 1,000 square feet and boasts a Walk Score of 81, ensuring easy access to parks, restaurants, offices, retail establishments, and the renowned Del Amo Fashion Regional Center. Each day, over 42,388 vehicles pass by Sylvia Square on Hawthorne Blvd.
Sheri stated, “This property presented a rare opportunity for the new investor to refresh the building and attract tenants with market-rate leases.” She further mentioned, “The asset has been owned by the same entity for over 40 years.”
“The buyer is highly satisfied with the addition of this investment to their portfolio,” said David. He also added, “We are witnessing significant interest from investors for well-located, high-quality retail assets like this one.”
About NAI Capital Commercial
NAI Capital Commercial is the largest agent and employee owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 300 brokerage offices and over 5,100 professionals spanning the globe, NAI Capital Commercial provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital Commercial offers innovative, customized solutions and seamless service to owners, tenants, investors, and developers throughout Southern California. Our clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital Commercial we work together putting our clients first.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America,
Latin America, Europe, Africa and Asia Pacific, with over 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.