NAI Capital Represents Buyer on $3.7M Office Building Sale in Torrance, CA
Los Angeles, CA, July 17, 2018– Executive Vice Presidents Tim Steuernol with NAI Capital’s Torrance office and Brian Luft with NAI Capital’s West LA office negotiated the sale of a 8,900 square foot office building in Torrance, Calif. The transaction totaled $3,775,000 or $424 per square foot. Brian and Tim represented the buyer, RODI Investments LLC. The seller was Grace Hand Trust.
The office building is located at 18093 Prairie Avenue. It is a 2-story office building situated in Northwest Torrance. Built in 1977, the entire building was remodeled from top to bottom in 2016 into a modern architecture style. It features a large reception area at the main entry, seven private offices, with multiple open work spaces, and 5 bathrooms. The building has all new plumbing and electrical wiring, including internet ports throughout, a new metal roof, two kitchens and break rooms. The property has a large parking lot with 27 spaces and 3 handicapped spaces.
The building was 100% vacant at the time of the sale. The owner will be occupying the majority of the building and has the option to lease out a small portion of the first floor.
Tim commented, “Small, well located owner/user office buildings are hard to find and sell quickly when they come on the market. We toured the building the first day it hit the market and promptly negotiated a purchase contract for our client. They are very pleased with the acquisition of this quality asset in a strategic South Bay location.”
“This sleek, newly renovated building is ideal for our client to owner/occupy,” added Brian.
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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