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Anchor Point Capital Seals Deal for Torrance Retail
Anchor Point Capital arranged the $16.9-million sale of a neighborhood retail center located at 2382,2390 and 2396 Crenshaw Blvd. in Torrance. The 28,000-square-foot center is anchored by Providence Medical Institute. Other notable tenants include Woori Bank, Subway Sandwich, and the UPS Store.
The buyer, an unnamed private family fund, has primarily held out-of-state commercial real estate in recent years. In a strategic shift, the California-based buyer has repatriated its holdings back to its home state from investments in Texas.
Eric Vu, managing principal of Newport Beach-based Anchor Point, said the buyer had “a comfort level in the stability and value of California real estate as a secure investment over the long-term. The investor transacted this purchase using a 1031 exchange at the end of their investment cycle strategy. They plan to hold this asset beyond the economic and policy climate currently impacting the state.”
- ◦Sale/Acquisition
