Newmark Knight Frank (NKF) recently facilitated the sale of a four-building medical office campus in Los Angeles County. Continental Development has acquired the 211,407-square-foot Madrona Business Campus in Torrance, Calif., from seller Dominguez Investment Co., for a price tag of $48.5 million. The asset is located within Los Angeles County‘s South Bay district.
An NKF Capital Markets team consisting of West Coast President Kevin Shannon, Executive Managing Director Ken White, and managing directors Michael Moore and Rick Stumm, with leasing market assistance from CBRE’s Tim Vaughn, represented the seller in the transaction. Continental Development represented itself.
Completed in 1990, the 11.46-acre campus located at 20780, 20790, 20800 and 20810 Madrona Ave. was 95% leased at the time of sale. The property’s tenant roster includes American Honda Finance Corp., John Deere Co. and Kaiser Foundation Health Plan. The Class A medical office campus is conveniently situated just 1 mile from the newly renovated Little Company of Mary Hospital, the adjacent South Bay Civic Center and the Del Amo Fashion Center. Additionally, the complex offers easy access to various hotel accommodations, including the Torrance Marriott Hotel, the Residence Inn on Torrance Boulevard and the DoubleTree by Hilton. The popular Hermosa and Redondo beaches are also just 4 miles away.