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South Bay Office Project Sells for $21M with Plans for Flex/Industrial Space Repositioning

Atrium Business Center_Hero

Colliers brokers the sale of Atrium Business Center

Los Angeles, Calif.  August 24, 2022 – Colliers today announced the sale of Atrium Business Center, a 114,000 square-foot flex office/industrial project located at 23800-23868 Hawthorne Boulevard in South Torrance. The property sold for $21,000,000 in an off-market deal wherein LCG Atrium, LCC, a joint venture between Ledo Capital Group and Greg St. Clair of St. Clair Commercial, acquired the project from Kay Properties.

Colliers’ Thacher Goodwin, Kyle Degener, and Carter Rudnick represented the sellers in the transaction and will remain the leasing team for LCG Atrium, LLC.

“Atrium is one of the most unique opportunities for repositioning an asset in the South Bay market,” Anthony J. Brent, Managing Principal and Founder, Ledo Capital Group. “It provides small well-amenitized industrial and production spaces that are irreplaceable today, adjacent to the major coastal housing markets along Hawthorne boulevard.“ 

Initially built in 1973 as an industrial park, the five-building project has gradually transformed into affordable office space for the Beach Cities communities in the late 1980s. Four of the five buildings consist of 24,000 square feet of total space, with 14,000 square feet of ground floor space and 10,000 square-foot second-story perimeter offices surrounding an open-air atrium above.

“The new ownership group is currently in the process of repositioning the project, allowing for a mixed-use of small flex warehouse, production, and tech spaces, coupled with a unique creative office twist,” said Goodwin. “This vision will cater to the lack of available small flex warehouse space in the South Bay while providing businesses the opportunity to combine light industrial needs with creative office and abundant parking.”

Renovation plans include allowance for ground-level roll-up access for light industrial warehouse units, an open mezzanine concept for the office space, and open-air second-story atriums allowing tenants to use outdoor patio amenities—an increasingly common request of most office tenants in the post-Covid environment. In addition, the project will undergo a complete modernization, including landscaping, interior, and exterior upgrades, and Tenant amenity areas. 

 
 
 

 

Media Contact: 
Leanne Daly 
PR & Communications | Southwest Region
Leanne.Daly@colliers.com 
+1 760 930 7941 
 

 
About Colliers 
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers, or LinkedIn

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