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California  + Los Angeles  + Retail  | 

Del Amo Financial Center Sells, Getting Major Overhaul

Del Amo Financial Center in Torrance has new owners, is set for major renovations and will also have a different name.

Developer Muller Co. and private-equity firm GreenOak Real Estate purchased the office complex from Jamison Properties for $62.4 million. It currently has a 13-story office tower, a five-story office building and four two-story buildings.

The new owners plan a $35-million facelift over the next two years that will add more retail, restaurants and a health club to the asset. The main tower will also be remodeled and the five-story building will be turned into medical office.

The new name of the complex is going to be called Del Amo Crossing. It now apparently suffers from a 66 percent vacancy rate.

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