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.”

Boston-based King Street Properties has acquired the Esplanade, a 241,963-square-foot, multi-building life science campus in San Diego’s popular University City / University Towne Centre (UTC) submarket. The transaction for three of the buildings, including 4755 Nexus Center Dr., 4757 Nexus Center Dr. and 4796 Executive Dr., closed on Dec. 30, 2024; the transaction agreement also includes the sale of a fourth building, slated to close in December 2025. The purchase price, seller and terms were undisclosed.

King Street is planning campus-wide improvements including the addition of common amenities, the upgrade of existing lab infrastructure and an expansion of available lab space. The new common area amenities will include a conference center, a fitness center and upgrades to outdoor gathering spaces.

“We’re thrilled to announce the acquisition of the Esplanade campus, which adds to our growing portfolio in the San Diego market, enabling us to expand our offerings and meet the needs of tenants of all sizes,” said Sonia Taneja, managing director overseeing the West Coast for King Street.

CBRE arranged the $12.05-million sale of 6060 Cornerstone Ct. West, a 67,099-square-foot office building in San Diego, to a local private investor, Sorrento Biotech Center LLC, which plans to convert the property for life sciences use. A CBRE team of Matt Carlson, Hunter Rowe, Camille Doan, Alex Hayden, Barbara Perrier, Mike Longo, Matt Pourcho and Anthony DeLorenzo represented the corporate seller. Chris Duncan of Voit Real Estate represented the buyer.

“Significant entrepreneurial capital continues to flow into the market, focusing on mid-market lab investments and repurposing underutilized assets,” said Carlson.

The asset is situated on 2.96 acres at a prominent intersection in Sorrento Mesa, a hub for growth and innovation. Its prime corner location is enhanced by proximity to universities, renowned research institutions and San Diego’s life sciences epicenter.

Built in 1985, the property was owned and occupied by a corporate owner. This transaction marks the first time the asset has been for sale to the broader real estate market.

Entre Commercial Realty closed the sale of 1450 Feehanville Drive, a 112,290-square-foot facility on 5.6 acres of land in Mount Prospect’s Kensington Business Center. The property features 24’ ceilings and is located in the northern O’Hare industrial submarket.

Entre’s Dan Benassi, SIOR, Dan Jones, SIOR and Sam Deihs represented the purchaser, a joint venture affiliates of Nicholas & Associates and Parenti & Raffaelli, who jointly intend to occupy a portion of the facility, and the remainder will be leased to third-party tenants. CBRE’s Mike Sedjo and Jack Brennan represented the seller in the transaction.

Nicholas & Associates is a full-service construction management and development company specializing in public projects, multifamily and mixed-use developments primarily in Illinois, Wisconsin and Florida. Parenti & Raffaelli is a custom woodworking company specializing in custom-finished millwork.

Extensive renovations are planned to convert the property into a multi-tenant facility, including a new entrance façade, office area and truck docks. Additional improvements include new landscaping, lighting, and parking.