Kevin Shannon of the Torrance office of Grubb & Ellis reports that the Torrance buyer acquired a 19,544-sf office building at 1800 W. 213th St. from 213th St. Associates LP of Redondo Beach. Joe Faulkner of the Dunn Co. reports that Christian Community Credit Union purchased the 17,372-sf office building in San Dimas from Newport Capital Advisors.
The Torrance building is a two-story, concrete tilt-up structure that is 100% leased to Honda. Shannon, Philip Mattice, Mike Moore and Scott Schumacher of Grubb & Ellis' South Bay office represented the seller, with the buyer represented by Richard Nowicki of Remax Productions.
In San Dimas, the transaction was part of a large portfolio of excess real estate owned by State Farm Insurance that was turned over to Newport Capital Advisors for disposition, Faulkner says. The seller was represented by Faulkner, Robert Stover and Glenn Rudy in Charles Dunn's Downtown Los Angeles office, along with Gene Page of the Seal Beach office.
The building is at 255 N. Lone Hill Ave. The buyer was represented by Steve Gelber of Gelber Realty Corp. Although the office building was empty at the time of the sale, meaning the price per sf was high, the building "generated a tremendous amount of activity," Faulkner says.
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