LOS ANGELES-A Torrance office complex has been acquired by a limited liability company in a deal valued at $16.9 million. The 141,918-sf complex stands at 21041, 21061 and 21080 S. Western Ave. It was 93% occupied at the time of sale.
The buyer was the West Los Angeles-based investment group Torrance Center North LLC, which was represented by Kevin Shannon of Grubb & Ellis' South Bay office, along with Philip Mattice and Steve Cramer of Colliers Seeley International.
The transaction is the second large office transaction to occur in Los Angeles County in the past week. It follows the $27.1-million sale of a 137,800-sf office building in Conejo Valley, as reported last week by Globest.com.
The facility stands inside the Westlake North Business Park at 30700 Russell Ranch Rd. The two-story building, which is fully leased by Homestore.com, is the largest of three facilities in the park. It was acquired by Miller Brothers Investments. The seller was a joint venture of LA-based Investment Development Services and Seattle-based Kennedy Associates Real Estate Counsel.
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