Del Amo Financial Center Nabs $62M

TORRANCE, CA—A joint venture between the Muller Co. and GreenOak Real Estate acquires the Del Amo Financial Center from Jamison Properties for $62.5 million. The multi-building 367,000-square-foot office property will be renamed Del Amo Crossing. 

“Del Amo Financial Center is really the cornerstone office development in the city of Torrance. We saw the opportunity in mid 2013 to acquire the property,” Stephen Muller, principal of the Muller Co., tells GlobeSt.com. “Our company is a value-add real estate developer, and we saw that the land the fronts Hawthorne Blvd. was really under developed. We have 880 feet of frontage there, and land across Hawthorne Blvd. is very valuable. In order to make this property pencil at a time when the rents were low, we looked at adding additional square footage to the project and returning the property to its former glory. Being that that is what our company does, we were very excited about this.”