Remote Surveillance Trailer in Torrance, CA

A well-known shopping center in Torrance, anchored by a grocery store, has sold for a record price in the South Bay as real estate investors look for retail properties that don’t have to compete directly with online shopping.

Village Del Amo sold for $108.5 million last month, the highest price paid in 2025 for a retail property in the South Bay, according to real estate data provider CoStar.

It last changed hands in 2004 for $36.3 million.

The buyers were Emmanuel “Manny” and Ofelia David, Redondo Beach investors and nursing home operators. The seller was Costa Mesa real estate developer DJM Capital Group.

The buyers “have been coming to this neighborhood serving retail center for decades and jumped at the opportunity to own it,” said David Jordon of SSV Properties, which will manage the property. “They view this as a generational investment and are looking forward in the coming years to improving upon the tremendous success that the center has enjoyed for decades.”

The leap in its value was attributed in part to investors’ desire to acquire unglamorous yet financially well-performing shopping centers.

In greater Los Angeles, apartments and industrial buildings that are in short supply for tenants “have been the darlings” for big investors over the last few years, said real estate broker Stefan Neumann of NAI Capital Commercial, who helped represent the buyer in the transaction.

Now, institutional investors such as pension funds and investment banks are zeroing in on retail centers that serve everyday needs and leisure activities, Neumann said.

Neighborhood shopping centers that are typically anchored by grocery stores are “e-commerce proof,” Neumann said, especially if they include other services that people use in person such as fitness centers, restaurants and medical-related services.

Village Del Amo is anchored by Korean grocer Hannam Chain and warehouse spirit seller BevMo, the state’s biggest liquor chain.

It also has multiple restaurants including Benihana, bank branches and offices for rent.

“While retail has faced heightened scrutiny from investors in recent years, this transaction underscores the strength of well-located, grocery-anchored assets in affluent markets,” said real estate broker David Shaby of NAI Capital Commercial.

Investment sales of retail properties in the Los Angeles area totaled more than $1.6 billion in the third quarter of 2025, compared to less than $637 million in the previous quarter, real estate brokerage CBRE reported.

South Bay retail properties had a vacancy of 6.9%, compared with more than 9% on the Westside and nearly 8.4% in downtown Los Angeles.

“In the last 10 or 15 years, the demographics of the South Bay have become increasingly desirable for not only residents, but for businesses and retail tenants,” Neumann said. “Incomes, not just in the beach cities, but throughout the South Bay are very strong.”

The property is situated in the heart of the South Bay submarket of Los Angeles, one of the most supply-constrained logistics hubs in the U.S., with access to approximately 20 million people within a one-hour drive. With close proximity to dense population centers, the ports of Los Angeles and Long Beach, and key transportation corridors including I-405 and I-110, the site is well-positioned to serve both regional and last-mile distribution needs.

The property is fully occupied by a Fortune 50 food and beverage company. The building offers a compelling set of functional features, including van-high loading on the east and west sides, dock-high loading on the south side, 30 foot clear height, approximately 12% high-quality office build-out, and multiple EV charging stations to support zero-emission last-mile delivery fleets.

Ali Houshmand, Global Head of Non-Traded REITs at EQT Real Estate, LLC (“EQT Real Estate”) said: “This acquisition reflects our continued conviction in the long-term fundamentals of industrial real estate. Southern California is one the tightest and most strategically important logistics markets in the country, and this investment sits squarely within EQRT’s investment strategy of stabilized, income-oriented properties critical to modern supply chains and positioned for sustainable, long-term demand.”

EQRT is externally advised by EQT Real Estate, the real estate division of EQT AB, a purpose-driven global investment organization. EQRT focuses on properties that can leverage EQT Real Estate’s scale and long-standing direct leasing relationships with Fortune 1000 companies. EQRT will generally seek to invest in properties with business tenants, such as industrial or life science properties, and in real estate assets with consumer users, such as multifamily or self-storage properties.

Contact EQT Press Office, press@eqtpartners.com

Forward-Looking Statements Disclosure Statements contained in this press release that are not historical facts are based on EQRT’s current expectations, estimates, projections, opinions or beliefs and speak only as of the date hereof. Such statements are not facts and involve known and unknown risks, uncertainties, and other factors. You should not rely on these forward-looking statements as if they were fact. These forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” “forecast,” or “believe” or the negatives thereof or other variations thereon or other comparable terminology. Actual events or results or EQRT’s actual performance may differ materially from those reflected or contemplated in such forward-looking statements as a result of various risks and uncertainties including those relating to future economic, competitive and market conditions and future business decisions by EQRT. No representation or warranty is made as to future performance or such forward-looking statements. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by EQRT or any other person that EQRT's objectives and plans, which EQRT considers to be reasonable, will be achieved.

Except as otherwise required by federal securities laws, EQRT does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

About EQT Exeter Real Estate Income Trust EQT Exeter Real Estate Income Trust (“EQRT”) is an externally managed non-traded perpetual life REIT, which is designed to provide investors access to a global, vertically integrated real estate platform. Combining EQT Real Estate’s heritage as a pioneer in the logistics industry and belief in the importance of innovation, EQRT will target real estate critical to the functioning of America’s supply chain and its ongoing leadership in research and development-driven sectors, including life sciences, healthcare and information technology.

While touring Torrance in November for a newsletter on the South Bay suburb, I noticed an alien-like plant on the corner of an otherwise picturesque street.

The blue agave, of tequila harvesting fame, hardly resembled its natural form: a sprawling green plant with jutting spearlike 3- to 5-foot long leaves.

It instead formed a pincushion: a robust center with a couple of stray leaves sticking out.

Someone had hacked up the mature plant, leaving only a few of its roughly 30 leaves.

Home owner Richard Moore said his house was one of several in the neighborhood hit multiple times over the last few years by thieves.

Neither Moore nor his fellow residents understood why.

That observation and conversation led to my latest feature on agave hackings in east Torrance.

Let’s jump into the story and see if we can find out what’s going on.

Grainy surveillance footage shows white vans pulling up to agaves during late-night and early-morning hours, beginning in 2022.

The thief or thieves parked on the street at such an angle to obscure their identities.

They then chopped off the waxy, serrated leaves, leaving only a few. The plants eventually recovered and grew back those missing leaves over a couple of years, only for the hacking process to be repeated.

“Why on Earth would anybody steal these leaves?” Torrance homeowner Steven Maier asked.

Agave theft happens with some frequency.

Full plants were nabbed outside homes , an upscale Beverly Hills-adjacent community, in 2022. Yards to and even the famed in San Marino have all been victimized.

In the case of Crestview, the thefts were believed of the piña — the plant’s hearty, pineapple-like center that can weigh 100 or more pounds and is used for tequila and mezcal. The other agave and succulent thefts were linked to suspected resales.

What makes Torrance unique is none of the plants was outright stolen, though they were left “nearly unrecognizable,” according to resident Gayle Moore, wife of Richard.

Moore’s 7-foot-tall blue agave was slashed in 2022 and then again around 4 a.m. on Nov. 9.

“Last time, they cut closer to the trunk, and I wasn’t sure if the leaves would grow back,” Moore said. “This time, the guy left 4 to 5 inches from the trunk.”

Staff members at the California Botanic Garden in Claremont don’t believe the leaves are of any use in alcohol production. They believe the cutting may be the work of a conscientious gardener, trimming away leaves that are blocking sidewalk access.

The large, broad leaves — or pencas — of blue agaves, century plants and similar species have value, according to UC Davis professor Samuel Sandoval Solis, a water resource specialist.

Solis in cooking, clothing and animal feed, the latter particularly for goats.

He suspects, however, that the leaves from this moderately wealthy suburb are being , a traditional Mexican dish of slow-cooked, chile-infused goat, beef or lamb, generally.

“What I’m thinking is that you have people here who love barbacoa or at least want to sell [the leaves] to those making it,” Solis said.

Solis said the good news for the plant owners is that leaves generally grow back and that the cutting performed by the unknown individuals isn’t too far off from what actual pruning looks like.

“For people unfamiliar with these plants, it might look like mischief,” he said. “But I don’t think it’s a bad thing, and it actually shows the many things agave can be used for.”

For the full article, check out this link.

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CBRE has arranged the sale of a new, freestanding Starbucks with a drive‑thru in Torrance, California, to Madrona F&F, LLC, for $8.25 million.

CBRE’s Alex Kozakov and Patrick Wade represented the seller in the transaction, CB Arcadia Partners, an affiliate of Calbay Development.

Delivered in 2025, the 2,400‑square‑foot Starbucks sits on 0.92 acres at 23865 Hawthorne Blvd. The property features an efficient drive‑thru layout with a large queuing capacity that can accommodate up to 20 vehicles, plus a full size café format with indoor and outdoor seating, and a layout designed to support high‑volume traffic. The property is leased to Starbucks on a long‑term triple-net lease. The Project entailed the successful redevelopment by Calbay of a former bank branch site that had gone vacant in 2021.

Located at the intersection of Hawthorne Boulevard and Pacific Coast Highway, the property benefits from 86,000 cars per day and strong visibility within a dense trade area, according to CBRE research. More than 182,000 residents and a daytime population exceeding 207,000 live or work within three miles of the property.

“This new Starbucks location sits at one of the most visible and high‑traffic intersections in the South Bay,” said Alex Kozakov, executive vice president at CBRE. “Strong demographics, exceptional drive‑thru efficiency and long‑term stability made this an attractive investment.”

The property is positioned within the Hawthorne Boulevard Corridor Specific Plan area, a commercial district anchored by major retailers, medical centers and ongoing multifamily development.

About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.

About Calbay Development Calbay Development, LLC is a privately held real estate development firm based in El Segundo and founded with a mission to buy premium commercial properties in California and develop first class retail and restaurant projects with staying power. The cofounders’ collective shopping center industry experience spans 45 years in investment and development of commercial sites, and their collective acquisitions in California alone total +/ 400,000 square feet across +/- 45 projects, circa $260 million in project capitalization. For more information visit: www.CalbayCorp.com.