Colliers Arranges the $36.1 Million Sale of a South Bay Creative Office Building
Los Angeles, Calif., March 4, 2022 – Colliers today announced the sale of 19701 Hamilton Avenue, a ±125,000 square foot, two-story creative office space in the South Bay city of Torrance known as “The H.” Notable features of the 5.2-acre property include glass roll-up doors, 13’6-foot ceiling heights, event and conference facilities, mixed-use recreational space, and outdoor lounge areas. The property’s premier location, ample amenities, high-caliber building design, and proximity to the Port of Los Angeles piqued the interests of multiple buyers.
Colliers’ Senior Executive Vice President Steve Solomon and First Vice President Kristen Bowman negotiated a $36,100,000 off-market deal representing the sellers, Montana Avenue Capital Partners and Contrarian Capital Management, who first acquired the asset in 2016. JLL’s Chad Solomon represented the institutional buyer, who recently acquired the property as a covered land play.
The deal presented a unique opportunity for Colliers’ Steve Solomon to work in tandem with his son, Chad Solomon of JLL, whose strategic collaboration efforts resulted in a swift and successful closure for both parties.
“As industrial demand climbs, we see increased activity in covered land plays. Older office buildings with some vacancy are transformed into more mixed-use buildings to accommodate tenants in the research, development, or Industrial space,” said Steve Solomon. “Thirty years ago, I never would have guessed that industrial land would be worth more than office, but I expect this cycle to remain for several years to come.”
PR & Communications Specialist | Southwest
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
Montana Avenue Capital Partners (“MAC”) is a real estate investment, management, and development company headquartered in Los Angeles, California. MAC acquires and manages real property investments in innovation clusters across the country on behalf of high-net-worth individuals, family offices, and institutional investors, targeting attractive risk-adjusted returns. For more information, please visit www.macpartnersllc.com