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March 22, 2019
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SOUTHERN CALIFORNIA NEWS
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Excelsior Partners Closes $11 Mil South Bay Office Buy

3/11/19

A 49.3k sf office building in Torrance was purchased by Excelsior Partners in an $11.3 mil ($229/sf) deal. The building, located at 3520 Challenger St, east of Hawthorne Blvd and north of Del Amo Blvd, was sold by Fairway LLC. It is fully occupied by a single tenant, Bobit Business Media, a leading media publisher and event producer providing a suite of digital media and marketing solutions, events and print media.

Built in 1990 and renovated in 2016, the two-story property is situated on 2.48 acres and offers a flex industrial component with approximately 5,200 square feet of storage warehouse space accessible by two dock-high loading doors and one ramped loading area. Located within four miles of the 405, 110 and 91 freeways, the property offers accessibility to regional office markets in Los Angeles and Orange County and numerous nearby amenities.

Sean Fulp, Ken White, Ryan Plummer and Mark Schuessler with Team Shannon Private Capital Group represented the seller in the deal. The buyer was self-represented. Plummer, commenting on the deal, pointed out that with a new 10-year lease in place, the property offers attractive cash-on-cash returns and is a great, long-term asset for its portfolio.




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