Rents Below Market
3475 Torrance Boulevard, a 15,510-square-foot, medical office building located in Torrance, California was 100% occupied by 7 tenants who have maintained a long-term historical occupancy at the Property. Investors were presented with a near-term mark-to-market opportunity with rents that are 23% below market with 2 years of weighted average remaining lease term.
Situated on an expansive 1.23 acre parcel, the offering presented investors with an attractive covered land opportunity in the robust development Torrance submarket, which has over 875 residential units either proposed, approved, or under construction.
Ideally located in the South Bay, 3475 Torrance Blvd offered an incredible opportunity to acquire the fee simple interest in a value-add medical office building with long-term redevelopment optionality.