Mehran Foroughi of the Sperry Van Ness Irvine office notes that the property drew "27 competitive officers" and sold for $90,000 more than its list price. He represented the seller, Prairie Plaza Shopping Center, with Daniel Lee of Re-Max representing the buyer. Foroughi says this was Prairie Plaza's first time on the market since 1974, a two-building center constructed that year and owned by the seller ever since. The property is in the heart of Torrance and serves a local residential community that is close to the 405 and 710 freeways.
The center was 100% leased at the time of the sale. Among its tenants are Little Caesars, Stanton Advertising, 2000 Nails and Smile Cleaners.
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