September 16, 2016
REEFF sold the L3 Communications Campus in Torrance, CA to Kansas City-based Mariner Real Estate Asset Management for $67 million. The 573,167-square-foot campus is occupied by L3 Communications’ Electron Technologies division, and Torrance Memorial Medical Center.
The 26.7-acre campus includes both low-rise office and R&D/Industrial buildings with substantial occupier invested infrastructure, including space simulated vacuum chambers and an on-site electrical substation. L3 manufactures key microwave satellite components called Traveling Wave Tubes at the site.
NGKF’s Kevin Shannon, Scott Schumacher and Ken White, along with CBRE’s local market leasing brokers Tim Vaughan and Dave Smith, represented both buyer and seller.
Shannon says the 25-acre campus is a “rare, large infill site, with a credit tenant,” and the potential for other uses on available land.
For comments, questions or concerns, please contact Dennis Kaiser