Nome Ventures Buys Pacific Gateway Office Tower in Torrance, California for $55.5M
TORRANCE, CALIF. — Silicon Valley-based Nome Ventures has purchased Pacific Gateway, an office tower located at 19191 S. Vermont Ave. in Torrance within the South Bay submarket of Los Angeles County. An undisclosed seller sold the asset for $55.5 million.
Built in 1981 and renovated in 2019, the 10-story tower features 237,145 square feet of Class A office space. The $6 million renovation included an upgraded lobby, new corridors, a new tenant amenity center and exterior improvements.
At the time of sale, the building was nearly 84 percent occupied. Current tenants include Optum Care (formerly DaVita Medical Group), Kumon, Farmers Insurance Federal Credit Union and Olgetree Deakins.
Kevin Shannon, Bill Bloodgood, Ken White, Scott Schumacher and Aly Chelf of Newmark Knight Frank represented the seller, while the buyer was self-represented in the transaction.
Greg Grant of CBRE Capital Markets in Los Angeles, along with Mike Longo, Todd Tydlaska and Sean Sullivan of CBRE, arranged $39.3 million in financing for the buyer.