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5/03/17
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A private commercial real estate entity based in L.A.’s South Bay area has acquired Mariner Court, a 109.8k sf office building in Torrance, for $24 mil ($218/sf). The stabilized, Class B office asset is located at on 4.7 acres at 3625 Del Amo Blvd, south of the 405 Fwy and just east of Hawthorne Blvd.
The three-story, steel-framed office building was built in 1989 as part of the Torrance Business Center. It is situated just five minutes from the 405 Fwy, 10 minutes from the 91 and 110 Fwys, and 20 minutes from Los Angeles International Airport.
Mariner Court’s distinctive design features mirrored glass bands set in a brick façade, and an interior atrium and garden. The extensive inside window lines overlook the garden, and the building’s park-like setting includes mature landscaping and ample guest parking.
Michael Lawrence with IPA and David Black of Marcus & Millichap represented the seller, an Irvine-based private commercial real estate company. Derek Caldwell, also with M&M, repped the buyer in the deal. According to Lawrence, the buyer was able to assume the in-place CMBS financing and meet the seller’s expectations regarding price.
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