Lomita Plaza

Property Description

Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is pleased to present the opportunity to acquire Lomita Plaza (Harbor City) in the sub market of Torrance and in close proximity to San Pedro and The Port of Los Angeles.  This offering includes a freestanding retail strip center made up of three (3) buildings built in 1987 with a foot print of approximately 22,568 SF, sitting on a 48,868 SF lot with 191' (+/-) of frontage on Lomita Blvd. 

Lomita Plaza offers an investor the rare opportunity to acquire the only retail strip center currently for sale in Harbor City with a stable and diverse tenant mix. It is important to note, that in the last 10 years no retail strip centers north of 20K SF have sold in Harbor City making this truly a unique opportunity to secure something of this size. The property has been owned and managed under the current ownership since 2007 (+/-) and is truly a value add opportunity with in place rents below market at an average of $1.24 per SF while the sub market market rent ranges between $2.25 and $3 a foot (+/-). This well-located retail strip center offers an investor a very special opportunity to secure a large sized asset in a high demand and growth sub market with real reposition opportunity and impressive frontage.

Harbor City is a diverse neighborhood in the Harbor region of Los Angeles, California originally part of the Rancho San Pedro Spanish land grant. The 2.58 Square mile city is flanked by Harbor Gateway to the north, West Carson/Wilmington to the east, Wilmington/San Pedro/Port of Los Angeles to the south, and Torrance/Lomita to the west. Living in Harbor City offers residents an urban suburban mix feel with lots of resturants, coffee shops, and parks like the prized landmark Ken Malloy Harbor Regional Park. Many families and young professionals live in Harbor City with public schools trending above average and its proximity to the Pacific Ocean influencing both its culture and economy. Nestled right at the convergence of PCH and freeways, Harbor City allows for easy access to the wider region and key employment centers.  This well located asset offers an investor a great opportunity to secure one of the largest Retail Strip Centers in the City with value add potential thru reposition and renovation.