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11/10/21
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Torrance Medical Plaza, a multi-tenant, 24k sf medical office building in Torrance, sold for $6.1 mil ($254/sf). Built in 1981, the four-story property is situated on an approximately one-acre parcel at 19000 Hawthorne Blvd, at the corner of Hawthorne and W 190th St.
The asset features a diverse medical tenant mix, including the Orthopedic Institute Medical Group and Total Family Dentistry. The medical office suites range from 560 sf to 6k sf in size and there are also 108 parking spaces.
Torrance Medical Plaza is also proximate to the Providence Little Company of Mary Medical Center and Torrance Memorial, a non-profit medical center. Its location provides easy access to interstate 405, interstate 110, and Pacific Coast Highway.
David Maling, Chris Maling and Patrick Barnes with Avison Young represented the seller, a California-based private investor, as well as the buyer, Tripod Investment LLC, a physician group that plans to occupy a portion of the property. According to Barnes, the buyer intends to occupy the current 22% vacancy in the building.
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