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Posted: Tuesday, April 29, 2008

Continental Development Buys Torrance Office Bldg.

WRA Property Sells 3500 Lomita Blvd. in Deal Worth $9.8M

Continental Development Corp., a California company that specializes in development, ownership and management of commercial real estate, purchased the 35,348-square-foot office/medical building at 3500 Lomita Blvd. in Torrance, CA. WRA Property Management Inc. sold the facility for $9.8 million, or approximately $277 per square foot. The reported cap rate was 5.8%.

The four-story property was built in 1981 and consists of medical and dental suites. Tenants include an array of dentists, doctors and special practitioners.

Article By: The costar Group, Matthew Wietzke


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