MEI Real Estate Services is thrilled to announce the closing of a $22.3 Million Retail Lease Transaction in the South Bay, California. MEI Represented the landlord in the listing and negotiation of the 37,980 SF anchor space in Torrance and was successful at negotiating 20-year a lease at favorable terms with 3% annual increases, a corporate guaranty and no TI Allowance. The anchor space was in one of the South Bay’s three retail shopping destinations and is an anchor space in a 98,101 SF shopping center that is part of a larger 515,000+ retail shopping destination, Torrance Promenade. The addition of Touchstone Climbing to the newly transformed lifestyle/fitness destination and will be an excellent complement to smaller fitness/health tenants and our 22,000+ SF Junior Anchor, Planet Fitness. The transaction closed smoothly and the tenant has already waived all contingencies and received their CUP for this location.