Institutional-Quality Office Asset Hits Market on Southern California Coast
Nov 03, 2016

TORRANCE, Calif., Nov. 2, 2016 – Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to announce it has retained the exclusive listing to market for sale Mariner Court, a 109,841-square-foot office building with an interior atrium and garden in Torrance, California. The price is $24.25 million.

“Mariner Court provides tenants in this marketplace with the exact type of working environment they seek,” says Michael Lawrence, IPA senior director. “The building’s atrium is a source of natural light for almost every suite in the building and features a half-acre Japanese-style garden. Currently 98.4 percent occupied, this office asset is a turnkey property that will provide new ownership with a seasoned, stable income stream.”

Lawrence and David Black, vice president investments, are representing the seller, an Orange County-based LLC.

“Los Angeles County’s South Bay region is an attractive alternative for creative-sector companies that have been priced out of Santa Monica or Playa Vista,” adds Black. “A new owner could potentially capitalize on that demand by repositioning Mariner Court as creative office space.”

Built in 1989 as part of the Torrance Business Center, the three-story, steel-framed office building is located on 4.7 acres at 3625 Del Amo Blvd. in Torrance, five minutes from the 405 freeway, 10 minutes from the 91 and 110 freeways, and 20 minutes from Los Angeles International Airport. The Redondo Beach Pier is three miles away.

Mariner Court’s distinctive design features bands of mirrored glass set in a brick façade. The extensive inside window lines overlook the garden, and the building’s park-like setting includes mature landscaping and ample guest parking.