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Avison Young brokers $6.1 million sale of a 24,000-sf medical office property in Torrance, CANovember 5, 2021
Los Angeles, CA – Avison Young announced today it has brokered the $6.1 million sale of Torrance Medical Plaza, a multi-tenant, 24,000 square-foot (sf) medical office building located at 19000 Hawthorne Boulevard in Torrance, CA.
Avison Young Principals David Maling, Chris Maling and Patrick Barnes, who are based in the company’s downtown Los Angeles office, represented the seller, a California-based private investor, as well as the buyer, Tripod Investment, LLC, a physician group that plans to occupy a portion of the property.
Built in 1981, the four-story property is situated on an approximately one-acre parcel at the corner of Hawthorne Boulevard and W 190th Street. The asset features a diverse medical tenant mix, including the Orthopedic Institute Medical Group and Total Family Dentistry. The medical office suites range from 560 to 6,000 sf and there are also 108 parking spaces.
“This asset provides the new owner/user with a highly visible medical office building and will occupy the 22 percent vacancy in the building,” said Barnes. “The medical office sector continues to thrive and experience high demand in the greater Los Angeles market.”
Torrance Medical Plaza is also proximate to the Providence Little Company of Mary Medical Center and Torrance Memorial, a non-profit medical center. Its location provides easy access to interstate 405, interstate 110, and Pacific Coast Highway.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
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For more information:
- Chris Maling, Avison Young +1 213 618 3824
- David Maling, Avison Young +1 213 618 3825
- Patrick Barnes, Avison young +1 213.618.3826