In the largest transaction, privately held Pacific Coast Capital Partners agreed to buy the 500,000-sf Torrance Crossroads retail complex in Torrance for about $108 million. The seller is a partnership of Overton Moore Properties and a pension fund represented by Boston-based AEW Capital Management.

Torrance Crossroads is fully leased to tenants that include "big-box" anchors Sam's Club and Home Depot. The Overton Moore-AEW development partnership opened the facility at Lomita and Crenshaw boulevards in 1992.

Though Pacific Coast Capital Partners wouldn't disclose what it paid for the complex, a source familiar with the transaction tells GlobeSt.com that the purchase price is "fairly close" to what the property has been marketed for over the past few months—about $108 million.

In the other transaction, Cleveland-based real estate giant Forest City Enterprises bought the California Public Employees' Retirement System's 50% interest in the trendy Galleria at South Bay. The 1.13-million-sf mall stands at the corner of Hawthorne and Artesia boulevards in Redondo Beach.

A Forest City official wouldn't say how much the company paid for the half-interest, but says the transaction valued the property itself at $116 million. The mall is 96% leased, with anchors Nordstrom, Mervyn's and Robinson-May.

Forest City developed the mall in the mid-1980s before selling a half-interest to CalPERS in 1992. Now that it once again has full ownership, Forest City plans to launch a $10-million renovation of the property soon.