A new opportunity to acquire an R&D/flex property has recently been made available in Torrance. A 79,652 square foot property is currently listed in central Torrance with pricing guidance at $25 million, or about $314 per square foot, according to Cushman & Wakefield, which is marketing the asset.
Located at 3401 Del Amo Blvd., the property is currently owned by American Haval Asset Management LLC, a Torrance-based entity, which acquired the property in 2016 for $15.5 million, or $194 per square foot.
According to the marketing brochure, the property was built in 1992, with renovations in 1993. The property stands two stories and sits on approximately 4.5 acres. The property is also home to 210 parking spaces and has a singular loading dock, with other amenities including an open office area and a large courtyard.
“Considered to be one of the highest quality Research & Development facilities in the South Bay Market, 3401 Del Amo Boulevard provides a clean, modern environment whose caliber is in line with today’s industry leader requirements,” the marketing brochure states.
The building is located in Central Torrance at the corner of Del Amo Boulevard and Prairie Avenue, approximately a half mile from Hawthorne Boulevard, which is host to a number of retail amenities. It is also near both the Ports of Los Angeles and Long Beach and is also near both the 405 and 110 Freeways.
The area is also home to a significant amount of industrial properties, with 203.7 million square feet of total inventory. According to data from Cushman & Wakefield, the South Bay has a low vacancy rate of 1 percent and has seen a year-over-year increase in warehouse rents.
