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3/29/16
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Torrance Pointe, a three-building, 145.3k sf low-rise office campus in Torrance, traded hands in a $25.46 mil ($175/sf) transaction. The asset was acquired by Montana Avenue Capital Partners in an all-cash deal.
Torrance Pointe is located at 21041, 21061 and 21081 S. Western Ave, just off of Torrance Blvd, one of the main arterial roadways in Southern California’s South Bay area. This location provides easy access to the San Diego Freeway (1-405) and the Pacific Coast Highway, connecting the property to the affluent neighborhoods of Palos Verdes, Rancho Palos Verdes, Rolling Hills Estates and Manhattan Beach.
The three-story buildings share a common area space at the convergence of the three structures with the potential to redevelop it into a unique tenant recreation area. Currently 97% leased, the property is situated adjacent to Honda’s U.S. headquarters and is home to tenants including Honda Motor Company, AT&T and Hitachi Transport System.
Andrew Harper with HFF represented the seller, Amstar Capital, in the transaction.
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