HFF, on behalf of the owner, is marketing a two-story, 121,047-square-foot creative office project located in the South Bay submarket of Los Angeles. The property, known as The H, recently underwent a substantial renovation that included an investment of more than $5 million to upgrade lobbies, restrooms and corridors; add a tenant amenity lounge and outdoor collaboration areas; and replace traditional tenant suites with open, highly creative workspaces. The property’s rent roll is diversified among multiple industries and sectors that thrive off the coastal vibrancy. Industries represented include technology, transportation and logistics, finance, insurance and consumer goods, as the diverse tenant mix mitigates the exposure to industry-specific declines. The durable cash flow benefits from an impressive lineup of credit tenants, including Honda, UPS, Expeditors Inc. and Progressive Insurance, with credit tenancy representing more than 63 percent of the rentable square footage.
The two-story building is situated on 5.22 acres at 19701 Hamilton Avenue in Torrance. As one of the premium product offerings in the submarket, the creative office property for sale continues to benefit from the South Bay’s dynamic tenant activity and strong rent growth. Since completion of the campus reposition in mid-2018, ownership has seen an increase in occupancy from 57 to 96 percent. In that same timeframe, rents grew more than 25 percent, further validating the proposition that high-quality credit tenants will pay a premium for a superior office experience.
For more information on this commercial real estate listing or any other office properties for sale in Southern California, please contact Andrew Harper in HFF’s Los Angeles office. To view HFF’s current real estate investment listings, please click here to be directed to HFF’s property search page.
Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.