Yukon Square was busy community retail center that was located on a premium signalized corner intersection of Yukon Avenue and Redondo Beach Boulevard. The subject property had signalized frontage giving tenants maximum exposure with passing traffic and is just one block away from El Camino College.
Torrance is part of the South Bay area of Los Angeles which has a population of 1.3 million people. The local population is forecast to grow 1.3 percent through 2020, as the area gains more than 16,000 new residents.
During the hold period, the OneV team was able to secure 7-Eleven as an anchor tenant to replace the former liquor store space and raise a number of rents to market rates. Following a successful disposition of the property with a 1031 exchange Buyer, investors benefitted from a return of all invested funds plus 42.82% in profit.