June 25, 2015 Comments Off on Del Amo Financial Center Sells, Getting Major Overhaul Views: 608 California News, Los Angeles

Del Amo Financial Center Sells, Getting Major Overhaul

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.

Read More at LATimes.com

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