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TORRANCE, CALIF. — Stream Realty Acquisition has purchased Pacific Center, a 291,711-square-foot office building in Torrance, for $68.5 million. The eight-story building is located at 21250 Hawthorne Blvd.
Pacific Center is currently 80 percent leased. Notable tenants include All Nippon Airways, Living Social, Morgan Stanley, Bank of America and Wells Fargo Insurance.
The seller, Bixby Land Company, purchased the asset in July 2012 for $52 million. At that time, the building – formerly known as South Bay Tower – was only 63 percent occupied. The building underwent significant renovations and a rebranding.
Stream Realty represented itself in this transaction, while Bixby was represented by CBRE’s Kevin Shannon.