HFF arranges $27.6 million refinancing for shopping center in Torrance, CA

LOS ANGELES, CA – HFF announced today that it has arranged a $27.6 million refinancing for Torrance Promenade (top left photo), a 269,000-square-foot retail power center in Torrance, California.

HFF worked exclusively on behalf of the borrower, KIR Torrance, L.P., to secure the 10-year, fixed-rate loan through a life insurance company.

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. The property is 99 percent leased.

The HFF investment sales team representing Kimco Income REIT, an affiliate of Kimco Realty Corporation, was led by director John Crump (lower right photo) and managing director Robert Delitsky.

For a complete copy of the company’s news release, please contact:

KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
krmurphy@hfflp.com