TORRANCE, CA-The Daily Breeze newspaper, a long-time fixture in the Torrance community, has sold its offices and production facilities and the 6.7 acres of land the buildings occupy for $18.6 million as part of a consolidation and restructuring. The deal was brokered by CB Richard Ellis, with CBRE’s Tim Vaughan, Richard Rizika and Mike McKinney representing the seller, La Jolla-based the Copley Press Inc., which also owns the San Diego Union Tribune.

CBRE was also on the buy side of the deal, with Gregg Kirkpatrick representing buyer Providence Health Systems/Little Company of Mary Hospital, which has operated a hospital near the newspaper for years and plans to build medical offices on the site. Rizika tells that the Breeze newspaper will continue to occupy one of the two existing facilities on the site, an 86,566-sf building at 5215 Torrance Blvd., on a short-term lease while the newspaper looks for new offices in the area. The other building is 31,800 sf.

The newspaper’s new requirement is for office space only as opposed the office and production facilities it is vacating, and Vaughn is heading the site-selection process for CBRE on behalf of the paper. The sale of the 6.7-acre site was preceded by Copley’s sale of the Daily Breeze operations to the Hearst Corp. in December 2006, and the paper is consolidating its production operations elsewhere.

Vaughan notes that the transaction involves two entities that are longtime institutions in Torrance. The Daily Breeze has operated from its location in Torrance for more than 40 years, and Vaughn calls the property sale “the end of an era of sorts in the Torrance community.”

Vaughn describes the redevelopment opportunities for the site as “vast,” with more than 30 offers from developers wanting to do everything from mixed-use to retail to residential, senior housing and hotels. The new owners plans “will serve the community well by bringing much-needed new modern medical office space to the city,” Vaughan observes.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.