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Colliers Closes Sale of Two-Building South Bay Office Campus
Colliers finalized the sale of DYAD South Bay, a two-building office campus totaling 116,220 square feet, Located at 19700 and 19750 S. Vermont Ave. in Torrance, it was purchased by affiliates of Borstein Enterprises for $24,755,000.
A Colliers team of Steve Solomon, Mark Schuessler, Sean Fulp, Ryan Plummer and Kristen Bowman represented both the seller, an entity owned by certain funds managed by Westport Capital Partners, and the buyer.
“While office transactions remain scarce, the DYAD sale demonstrates that demand remains strong for high-quality assets with a unique story,” said Schuessler.
Added Solomon, “Westport executed a substantial renovation and repositioning strategy, which presented high occupancy and strong tenant satisfaction. Several surrounding competitive office buildings have been purchased by industrial developers with plans for demolition and construction of state-of-the-art warehouses. Due to this trend, we expect the DYAD South Bay campus to benefit significantly from reduced office supply in the market.”
- ◦Sale/Acquisition
