June 25, 2015
Del Amo Financial Center in Torrance has new owners, is set for major renovations and will also have a different name.
Developer Muller Co. and private-equity firm GreenOak Real Estate purchased the office complex from Jamison Properties for $62.4 million. It currently has a 13-story office tower, a five-story office building and four two-story buildings.
The new owners plan a $35-million facelift over the next two years that will add more retail, restaurants and a health club to the asset. The main tower will also be remodeled and the five-story building will be turned into medical office.
The new name of the complex is going to be called Del Amo Crossing. It now apparently suffers from a 66 percent vacancy rate.