Torrance shopping center sells for record price | Real Estate news

A widely known shopping center in Torrance, anchored by a grocery store, has offered for a record price in the South Bay as real estate traders look for retail properties that don’t have to compete straight with online shopping.

Village Del Amo offered for $108.5 million last month, the very best price paid in 2025 for a retail property in the South Bay, according to real estate data supplier CoStar.

It last modified palms in 2004 for $36.3 million.

The patrons had been Emmanuel “Manny” and Ofelia David, Redondo Beach traders and nursing home operators. The vendor was Costa Mesa real estate developer DJM Capital Group.

The patrons “have been coming to this neighborhood serving retail center for decades and jumped at the opportunity to own it,” said David Jordon of SSV Properties, which is able to handle the property. “They view this as a generational investment and are looking forward in the coming years to improving upon the tremendous success that the center has enjoyed for decades.”

The leap in its worth was attributed in half to traders’ need to purchase unglamorous yet financially well-performing shopping facilities.

In higher Los Angeles, flats and industrial buildings that are in short provide for tenants “have been the darlings” for big traders over the last few years, said real estate broker Stefan Neumann of NAI Capital Commercial, who helped characterize the customer in the transaction.

Now, institutional traders such as pension funds and investment banks are zeroing in on retail facilities that serve on a regular basis wants and leisure actions, Neumann said.

Neighborhood shopping facilities that are sometimes anchored by grocery shops are “e-commerce proof,” Neumann said, particularly if they embody other companies that people use in individual such as fitness facilities, eating places and medical-related companies.

Village Del Amo is anchored by Korean grocer Hannam Chain and warehouse spirit vendor BevMo, the state’s greatest liquor chain.

It also has a number of eating places including Benihana, bank branches and places of work for rent.

“While retail has faced heightened scrutiny from investors in recent years, this transaction underscores the strength of well-located, grocery-anchored assets in affluent markets,” said real estate broker David Shaby of NAI Capital Commercial.

Investment gross sales of retail properties in the Los Angeles space totaled more than $1.6 billion in the third quarter of 2025, in contrast to less than $637 million in the earlier quarter, real estate brokerage CBRE reported.

South Bay retail properties had a emptiness of 6.9%, in contrast with more than 9% on the Westside and practically 8.4% in downtown Los Angeles.

“In the last 10 or 15 years, the demographics of the South Bay have become increasingly desirable for not only residents, but for businesses and retail tenants,” Neumann said. “Incomes, not just in the beach cities, but throughout the South Bay are very strong.”