Bed Bath & Beyond Inc. purchased a 35,978-square-foot retail building at 3700 Torrance Blvd. in Torrance, CA, from Regional Management Co. for nearly $7.64 million or $212 per square foot.
Built in 1994, the former Borders Books property was sold vacant. Bed Bath & Beyond plans to open at the site by the fourth quarter of this year. The parking ratio for the building was reported to be 4.22 per 1,000 square feet of rentable building area.
Jerry Gillman of Grubb & Ellis and Dan Samulski of CBRE represented the seller. Scott Manclark of Cypress Retail Group represented the buyer.
Please refer to CoStar COMPS #2316071 for additional information on this transaction.