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