Tower Records Leases Property in Torrance

Tower Records, a leading retailer in the record and video industry, has leased property on the northwest corner of Hawthorne and Sepulveda boulevards in Torrance as a site for a new store, expected to be under way this month with completion scheduled in the fall, at a cost of $2 million.

The 30-year, $5-million lease with Pacific Development Corp. was negotiated by Zugsmith & Associates, a Studio City commercial-industrial real estate brokerage firm.