Commercial Scene : Business Park Complex Sold for $20 Million

A two-building complex within Torrance Business Park has been acquired for $20 million in cash by Schroder Real Estate Associates for a pension fund client.

The office-research buildings, completed in 1986, were purchased from the owner/developer, Watt Investment Properties Inc. They have a total area of 152,142 square feet. The property is 95% leased. Tenants include TRW and Pacific Telephone.