Torrance’s The Knox Trades for $22M
Wilshire Capital Investments acquired The Knox, a two-building, 108,368-square-foot office park in Torrance, CA, from Ruth Group for $21.6 million.
Located at 680 and 690 Knox St., The Knox is situated on 4.9 acres and is 98% occupied by Midmark, City of Los Angeles, CH Robinson and Allied Digital. The 1984-era asset underwent a major renovation to transform into creative office space in 2016.
NFK’s Kevin Shannon, Ken White and Michael Moore represented the seller. The buyer was self-represented.
Shannon says, “The Knox is a stabilized asset that is attractive to capital with its recent creative reposition. Creative office rents in this market are about 20% higher than traditional office space, and the Torrance submarket is significantly more economical than other nearby locations such as El Segundo. The per square foot difference between the El Segundo and Torrance submarkets has never been greater, and capital is recognizing that.”
For comments, questions or concerns, please contact Dennis Kaiser