Storm Entities Announce Two New Real Estate Projects
TORRANCE, CA--(Marketwire - April 03, 2012) -
In recognition of the improving economy, Storm Properties, Inc., and Storm Western Development, Inc., announce two new real estate projects.
Storm Western proposes a 16-unit, detached patio-home community on a 0.9-acre infill site at Pacific Coast Highway and Cypress Street in Lomita. Currently awaiting approvals from the city of Lomita, the residences are projected to offer approximately 1,600 to 1,900 square feet of living space. Construction is expected to start in 2013.
Located at the northwest corner of Sepulveda Boulevard and Normandie Avenue in Torrance, Storm Plaza will offer a mix of retail uses in approximately 45,000 square feet on 4.2 acres. Currently, Storm Properties is in negotiations with prospective major tenants for the center, which is expected to get underway sometime in 2013.
Commenting on the developments, Storm Properties and Storm Western President Jay Ahluwalia said: "With the economy building momentum, we think this is the ideal time to move forward with these quality projects. And both will fill market niches for which there is ongoing demand."
Storm Properties and Storm Western Development are subsidiaries of Torrance-based Storm Industries, Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 80-year history, Storm has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe. Storm Properties has been engaged in the development, management and sale of industrial, commercial and multifamily real estate for more than 30 years. Storm Western Development has been building homes in Southern California since 1972, including recent residential neighborhoods in San Bernardino County.