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Brookfield Properties Acquires Torrance Office Building From Montana Avenue Capital For $36.1M

Property Image
SOLD
$36,100,000

California

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Office125,000 SF
Sold 03/04/2022
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Property Image
SOLD

Brookfield Properties Acquires Torrance Office Building From Montana Avenue Capital For $36.1M

19701 Hamilton Ave, Torrance, CA, 90...

See Similar Deals
Office125,000 SF
Sold 03/04/2022
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$288
Total Square Footage:125,000 SF
Transaction Type:Sale

The property at 19701 Hamilton Ave, Torrance, CA, 90502, in the Torrance market, was recently sold for $36,100,000.00. The asset is an office space spanning 125,000 square feet. The seller, Montana Avenue Capital Partners, facilitated the sale to the buyer, Brookfield Properties. The sellers were represented by Kristen Bowman and Steven (Steve) Solomon from Colliers International.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $36,100,000.00
  • Address: 19701 Hamilton Ave, Torrance, CA, 90502
  • Market: Torrance
  • Seller: Montana Avenue Capital Partners
  • Buyer: Brookfield Properties
  • Square Footage: 125,000
  • Seller's Rep: Kristen Bowman (Colliers International), Steven (Steve) Solomon (Colliers International)

The sale of the office property signifies a significant transaction in the Torrance market, with Montana Avenue Capital Partners successfully closing the deal with Brookfield Properties. The involvement of Kristen Bowman and Steven Solomon from Colliers International highlights the expertise and professionalism demonstrated in the negotiation and finalization of this substantial real estate transaction.

Players

Kristen Bowman
9 deals$308.8M volume(916) 207-2041
BROKER

Steven (Steve) Solomon
Colliers
5 deals$259.3M volume(310) 704-9693
BROKER

Brookfield Properties
BROKERAGE

Details

SOLD
IMAGE: 03/04/2022 ADDRESS: 19701 Hamilton Ave, Torrance, CA, 90... MARKET: Torrance ASSET TYPE: Office SELLER'S REP: Kristen Bowman(Colliers International), Steven (Steve) Solomon(Colliers International) BUYER: Brookfield Properties Buyer SELLER: Montana Avenue Capital Partners PRICE: $36,100,000.00 SF: 125000

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$128,255.68
Cash-on-Cash Return-1.27%
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