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Meridian Lands Torrance MOB, Plans Renovation
Meridian closed escrow on a 26,000-square-foot medical office building in Torrance, CA, from Providence Health. Located on a 1.6-acre parcel at 3531 Fashion Way, the site is directly across the street from Del Amo Fashion Center.
Meridian’s R.J. Sommerdyke says, “The building was being sold 100% vacant. Given the vacancy, building age and location, the property was being marketed as a redevelopment opportunity.” During escrow, Meridian was able to secure an undisclosed tenant for roughly half of the building.
The purchase price was $7.5 million, and Meridian plans to invest an additional $3.6 million. The property was built in 1961 and underwent multiple renovations over the years. In order to meet the standards of today’s medical users, Meridian will conduct significant renovations and upgrades by Q3 2019.
JLL’s Brendan McArthur, Steve Solomon, Jeff Adkinson and Kristen Bowman represented the seller, while Meridian was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition


