LOS ANGELES, CA – The Los Angeles office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $27.5 million refinancing for Torrance Promenade, (top left photo) a 266,847-square-foot retail power center in Torrance, California. Working exclusively on behalf of Kimco Realty Corporation, HFF director Tina Derderian placed the five-year, 7.25% fixed-rate loan with an off-shore pension fund.
Kimco Realty Corporation is a public retail real estate investment trust (REIT) specializing in the ownership and management of neighborhood and community shopping centers throughout the United States.
Torrance Promenade is located at 19800 to 20100 Hawthorne Boulevard two miles south of the 405 Freeway in Torrance. Major tenants include Trader Joe’s, Office Depot, Marshalls, Same Ash Megastore, Ross Dress for Less, Loehman’s, Tuesday Morning and Party City.
In addition, a Sears Outlet, the center’s largest tenant, recently opened. Current occupancy is 85%.
“Torrance Promenade boasts consistently high sales and occupancy rates, which are in part due to the advantageous location along the area’s main retail corridor near affluent Southern California cities including Torrance, Palos Verdes, Redondo Beach and Hermosa Beach,” said Derderian.
Contacts:
Tina Derderian, CPA CA Lic. # 01816996, HFF Director (310) 407-2100, tderderian@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
No comments:
Post a Comment