Steady Income Stream, Value Potential Underscore Torrance Industrial’s Appeal

4240 W. 190th St., a 307,487-square-foot multi-tenant industrial building in Torrance, recently sold for $75 million or $245 per square foot. The buyer was Rexford Industrial Realty.

The property is situated in the South Bay, which is one of the leading industrial submarkets in the world. The asset offers the buyer steady income, being 100 percent triple-net leased to two tenants with a remaining weighted average lease term of 3.9 years.

Newmark’s Bret Hardy, Jim Linn, Andrew Briner, Scott Schumacher and Kevin Shannon represented the seller, Z/A Torrance Associates.

“With its unsurpassed location in the highly desired South Bay industrial submarket, extremely limited industrial supply and insatiable tenant demand, this asset offered a remarkable investment opportunity,” said Hardy. “The steady in-place income stream and tremendous value-add potential further underscore the property’s desirability.”

4240 W. 190th St. totals 307,487 square feet on a 11.37-acre parcel. The class-B building was offered as a potential rehabilitation or redevelopment opportunity, given its prime South Bay location.