CBRE was also on the buy side of the deal, with GreggKirkpatrick representing buyer Providence Health Systems/LittleCompany of Mary Hospital, which has operated a hospital near thenewspaper for years and plans to build medical offices on the site.Rizika tells GlobeSt.com that the Breeze newspaper will continue tooccupy one of the two existing facilities on the site, an 86,566-sfbuilding at 5215 Torrance Blvd., on a short-term lease while thenewspaper looks for new offices in the area. The other building is31,800 sf.

The newspaper's new requirement is for office space only asopposed the office and production facilities it is vacating, andVaughn is heading the site-selection process for CBRE on behalf ofthe paper. The sale of the 6.7-acre site was preceded by Copley'ssale of the Daily Breeze operations to the Hearst Corp. in December2006, and the paper is consolidating its production operationselsewhere.

Vaughan notes that the transaction involves two entities thatare longtime institutions in Torrance. The Daily Breeze hasoperated from its location in Torrance for more than 40 years, andVaughn calls the property sale "the end of an era of sorts in theTorrance community."