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August 18, 2018
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Miramar Capital Spends $19 Mil on 77k sf Office Building in Torrance

4/17/18

In a recent investment buy in L.A.’s South Bay submarket, Miramar Capital paid $19.1 mil for a 77.2k sf ($247/sf), Class A office building in Torrance. The asset is fully NNN-leased to Maritz Holdings Inc, a sales and marketing services company.

Built in 2000, the property is situated on 3.78 acres of land at 20285 South Western Ave. It is located within three miles of the 405, 110 and 91 freeways and is between the Palos Verdes Peninsula and the Manhattan/Hermosa/Redondo Beach cities. It is also adjacent to the 110-acre Toyota Campus redevelopment project which is anticipated to transform the local market once completed.

Kevin Shannon, Ken White and Michael Moore with KF Capital Markets represented the seller, Mar Ventures, the original developer of the property. Miramar Capital was self-represented.

“Torrance is clearly benefiting from the momentum of the neighboring El Segundo submarket,” Shannon said. “The depth of capital for Torrance has tripled in the last two years.”

NKF Capital Markets also represented the seller of the adjacent 1899 Western Way property in September 2017, which totaled 75.7k sf for $19 mil ($251/sf). Miramar Capital was the buyer on this transaction as well.





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