Old Towne was built with space for up to 140 tenants along a brick-lined central concourse, with Kmart as the sole anchor store.

One section of the mall was called "Artisan's Way", and was dedicated to crafters, silversmiths, and glass blowers.

[3] The mall could not effectively compete with nearby Del Amo Fashion Center and the South Bay Galleria.

[4] By 1989 the 314,804-square-foot (29,246.2 m2) mall was roughly a third vacant and the city approved its conversion to an outdoor power center format by its then-owners, BPT Torrance Associates.

[4] As of 2020, Torrance Promenade is owned by Kimco Realty, featuring Walmart Neighborhood Market, Ross Dress for Less, Burlington, and Marshalls among its tenants.