Alta West Partners, Glendon Capital Management and an affiliate of A2 Capital Management, have closed on the $21.4-million purchase of 3401 Del Amo in Torrance, an 83,000-square-foot flex research and development asset in the South Bay submarket of Los Angeles County. Originally purpose-built for Kubota Tractor Corporation, the property has never been publicly marketed for lease. 

A Cushman & Wakefield broker team led by Brett Racanelli, Nathan Piehl and Jeff Morgan represented the buyer as well as the seller in the all-cash trade. Cushman & Wakefield was also retained by the new owner to handle leasing efforts for the property going forward.

“This property aligns with Alta West’s investment strategy, and we were pleased to have supported them throughout a very smooth closing process,” said Racanelli. “Torrance continues to attract innovative companies in technology, aerospace, and advanced manufacturing, making this a prime location for R&D and flex users.”

Cityview, a locally based multifamily investment management and development firm, has completed Jasper, a 296-unit Opportunity Zone project adjacent to the University of Southern California in Los Angeles’ rapidly growing University Park East neighborhood. Located at 2528 S. Grand Ave., the project site housed a defunct bookbinding factory and other unused industrial buildings.

“Jasper is bringing nearly 300 units of much-needed housing, including affordable units, to an area experiencing an extreme shortage,” said Sean Burton, CEO of Cityview. “Located in a vibrant neighborhood with easy access to jobs, higher education, transit and entertainment, Jasper offers extensive amenities that foster resident well-being and connection.”

In addition to Jasper, Cityview is nearing completion on The Parker, a 123-unit multifamily development at 5930 W. Pico Blvd., and will complete Belle on Bev, a 243-unit multifamily project in Los Angeles’ Historic Filipinotown, later this year. It also recently commenced construction on South Bay X, a 265-unit multifamily project in Los Angeles’ South Bay.

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.