Torrey Corner Shopping Center in the Carmel Valley area sells for $6.1 million

Cassidy Turley BRE Commercial announced Aug. 29 the $6.1-million sale of Torrey Corner Shopping Center.

Located at 11120 and 11130 East Ocean Air Drive, the 13,344-square-foot retail center is situated in the premier Carmel Valley submarket. The center is anchored by Bank of America, Love to Dance, Prudential Real Estate, Sun Smiles Dentistry, Zip Fusion Sushi and Massage Envy.

Andrew Peterson, Bruce Schiff, CCIM, Phil Lyons, CCIM, and Chad Iafrate, CCIM, with Cassidy Turley BRE Commercial’s retail division represented the seller, Sorrento Hills Marketplace 2, LLC, in the transaction. The buyer, 3 Tier Investments, LLC, represented itself.

“Carmel Valley is a highly sought after trade area with limited retail projects and many barriers to entry for new development. It is no surprise that this well-located property sold at $457 per square foot – a high price for retail strip shopping centers,” said Andrew Peterson.

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