Dearth of New Product

in the South Bay

South Bay multifamily inventory is mostly homogeneous

and is starting to show its age. About 85% of existing

stock is made up of Class B and C, garden-style

properties built more than 20 years ago. In the past

20 years, there has been a lack of new institutional

multifamily projects built in Manhattan Beach, Hermosa

Beach, Redondo Beach and West Torrance. The City

of Torrance has historically been anti-multifamily,

however with the current housing shortage in Southern

California, new mandates have been put in place to

boost housing production. Del Amo Fashion Village is

the best opportunity to execute a new development of

scale in all the South Bay.

Exceptional Access to

Surrounding Amenities

Residents of Del Amo Village will be just steps from the newly

renovated Del Amo Fashion Center, which attracts nearly 20

million people a year. Del Amo Fashion Center, the largest

shopping center in the western United States, completed

a $300 million redevelopment, further defi ning its status

as a shopping and entertainment mecca in the heart of Los

Angeles. Major/infl uential tenants include Nordstrom, Macy’s,

Din Tai Fung, Dave & Buster’s, Crate & Barrel, Barnes & Noble,

Tesla and Dick’s Sporting Goods.

Strong Fundamentals

Renter demand has held up better in the submarket than in

other locations of the metro. The South Bay market continues

to have one of the lower vacancy rates in the Southern

California region, at 3.3% while maintaining some of the

highest market rents for Class A multifamily construction.

These fundamentals are poised to persist with only two deals

under construction in the entire South Bay market.

High Visibility Location

Over 60,000 vehicles passing per day and over ~800

feet of frontage on main arterial Hawthorne Boulevard