TORRANCE, CA – September 9, 2014 – (RealEstateRama) — Sheri Messerlian, Senior Vice President with NAI Capital’s South Bay office, represented the Seller, Carpenter Center LLC, in the sale of a 31,000 sq. ft. Carpenter Village, a multi-tenant retail property located 2814 Sepulveda Blvd in Torrance, CA to the Buyer, KL Plaza LLC. The Buyer was represented by K-Town Realty & Management. The value of the sales transaction was $11.5 Million.
The Carpenter Village was constructed in 1979. The property offers convenient access to free surface parking located in front of the stores. The L-shaped building has an exceptional charm with its wide breezeway and the ability to have outdoor seating. The Carpenter Village was 100% occupied at the time of sale and recent renovations include new landscaping, lighting, and parking lot improvements.
Sheri notes, “When I took over the leasing of the property a couple of years ago, half of the center was vacant and the other half had leases that were soon to expire. During this time, because of our marketing strategy, experience and follow-through, I was able to stabilize the center by filling up the vacancies and renewing and or extending the existing leases.”
John lee of Carpenter Center LLC said, “Sheri did a phenomenal job for us by not only making sure the center was fully leased, but she also made sure the sales transaction was seamless, expeditious a win-win for both sides. I don’t believe this would have been possible without her experience, tenacity, and keen knowledge of the market.”
The Carpenter Village resides in the heart of Torrance and just minutes away from the Del Amo Fashion Center to the north, which is anchored by national tenants such as Macy’s, JC Penney’s, Sears, Crate & Barrel, and a brand new Nordstrom department store which is under construction. The Torrance Crossroads Shopping Center to the south is anchored by Costco, Sam’s Club, Home Depot, Lowes, and Vons. The property is located on the highly traveled Sepulveda Boulevard, between Hawthorne and Crenshaw Boulevards.
About NAI Capital
NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California member of NAI Global, a premier real estate service network in 55 countries with 375 local offices and 6,700 local market leaders spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com NAI Capital Brokerage BRE #00806840.
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