Its been a short few years since Hawthorne Blvd. was ravaged by real estate vacancies, empty store fronts and other effects of the recession. Today new and revitalized stretches of retail real estate are being seen as new automobile dealerships are popping up along the famous and busy thoroughfare.
The recent grand opening of the Ferrari dealership which was attended by hundreds of invited guests underline the importance of the hot properties to the local economies.
According to Mattioli Automotive Group President Giacomo Mattioli, they are planning to sell at least 100 Ferraris a year, including new and used cars. The plans call for marketing to a new set of buyers for the exotic car, mainly Porsche owners, and other exotic car buyers. He stated that some Ferrari models have a waiting list of up to one year or more.
The arrival and opening of the Ferrari dealership is key to the new look along Hawthorne Blvd. in a solidly middle class Torrance, and an indication of Hawthorne Boulevard’s status in the retail industry and in the commercial real estate market.
More than 70,000 cars a day roll along the eight lane highway between Sepulveda Blvd. and Artesia Blvd., that’s anchored by two large regional malls, The South Bay Galleria in Redondo Beach and The Del Amo Fashion Center mall. Nationwide, Hawthorne Blvd. is considered one of the most desirable stretches of retail real estate.