October 18, 2017
Pacific Center, a 306,765-square-foot, state-of-the-art office building in Torrance, CA, sold for reportedly in the neighborhood of $105 million. Related Fund Management, a subsidiary of Related Companies, acquired the asset from Dallas-based Stream Realty Partners, L.P. In 2015, Stream Realty acquired the property from Bixby Land Co. for $68.5 million.
The eight-story property is located at 21250 Hawthorne Blvd., at Hawthorne and Torrance Boulevards, near the Del Amo Fashion Center. Renovated in 2017, Pacific Center is 91% leased to such tenants as Bank of America, Morgan Stanley, ANA, Wells Fargo and Barrister Executive Suites.
HFF’s investment sales team representing the seller included Ryan Gallagher and Andrew Harper.
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