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TORRANCE, CA-A private family trust has paid $13.5 million for a 4.9-acre parcel here and could build a retail complex of up to 58,000 sf on the site.

The land is at the southeast corner of Carson and Abalone streets. The acquisition by the Sun Family Trust includes entitlements to build up to 58,000 sf of retail space on the parcel, according to a broker involved in the deal.

Richard Rizika and Brent Cunningham of CB Richard Ellis Retail Services represented the seller, LA-based Regency Realty Group. The private Sun Family Trust was represented by David Minck of locally based California Retail Investments.

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