TORRANCE, CA—KL Plaza LLC has acquired theCarpenter Village Shopping Center fromCarpenter Center LLC for $11.5 million. Located at2814 Sepulveda Blvd. in Torrance, the 31,000-square-foot shoppingcenter is 100% occupied by a mix of retail tenants.

“The leasing as well as the investment market for commercialreal estate has greatly improved this year, and CAP rates havereached a healthy number from a low of 3.45% for singleNational tenant investments to 6% for multitenant shopping centerinvestments,” Sheri Messerlian, an SVP withNAI Capital who represented the seller in thetransaction, tells GlobeSt.com. “Given this overall healthyinvestment atmosphere, coupled with great location, low interestrates and a fully leased shopping center, the owner decided toplace this center up for sale.”

Messerlian took over the leasing at the property several yearsago, and brought it from 50% occupancy to 100% occupancy andextended the existing leases. The stability of the asset made it anattractive acquisition opportunity for the buyer, who wasrepresented by K-Town Realty & Management inthe transaction.