TORRANCE, CALIF. — A joint venture between the Muller Company and GreenOak Real Estate has purchased Del Amo Financial Center, a 367,000-square-foot complex in Torrance, for $62.5 million. The complex is located on the corner of Hawthorne Boulevard and Carson Street.
Del Amo Financial Center contains a 12-story office tower and a five-story tower, in addition to four circular pavilions. The complex was originally built in 1966 and remodeled in 1998.
The JV plans to convert the property into a mixed-use facility that contains office, medical and retail space. The new iteration will also include a 42,000-square-foot health club and 10,000-square-foot restaurant.
The complex will be rebranded as Del Amo Crossing once the conversion is complete. The first phase will include the conversion of the five-story tower into a state-of-the-art medical facility that will be designed for large medical groups. It will also modernize the mechanical, electrical and plumbing systems, as well as the common areas and lobby space of the 12-story tower.
The portion of the property facing Hawthorne Boulevard may also be repositioned to accommodate for additional retail users. Parking will be re-designed and enhanced to improve access and circulation patterns throughout the entire project.
Chris Sinfield and Leslie Mayer of Cushman & Wakefield are the property’s brokers. The seller was Jamison Properties.