Updated Dec 2, 2024
Rexford Industrial Realty Acquires Torrance Industrial Property For $182M
3100 Lomita Boulevard, Torrance, CA, USA
$182,000,000
$316/SF
Building Size
576,000 SF
Asset Type
Industrial
Closing
Aug 24, 2020
About this deal
AI
Rexford Industrial Realty has acquired an industrial property in Torrance for $182,000,000. The property, located at 3100-3110 Lomita Boulevard & 3121 Skypark Drive, spans a total area of 576,000 square feet. With a price per square foot of $315, this transaction marks a significant investment in the Torrance market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $182,000,000
- Address: 3100-3110 Lomita Boulevard & 3121 Skypark Drive
- Market: Torrance
- Square Footage: 576,000
- Price Per Square Foot: $315
The seller of the property was Torrance FRM LLC, represented by Greg Orman. On the buyer's side, Rexford Industrial Realty was represented by Scott Schumacher, Kevin Shannon, and Ken White from Newmark. Their expertise and negotiation skills likely contributed to the successful acquisition at a significant price.
On the Map
$182,000,000
$316/SF
Industrial
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Players
Torrance Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93