Colliers recently closed the sale of DYAD South Bay, a two-building office campus totaling 116,220 square feet. Located at 19700 and 19750 S. Vermont Ave. in Torrance, it was purchased by affiliates of Borstein Enterprises for $24,755,000. A Colliers team represented both the seller (an entity owned by certain funds managed by Westport Capital Partners) and the buyer in this transaction.
Mark Schuessler commented that “high-quality assets with a unique story” still remain attractive to buyers despite scarce office transactions occurring currently; while Steve Solomon added that Westport’s renovation and repositioning strategy had resulted in high occupancy levels as well as strong tenant satisfaction prior to sale – further noting that reduced supply due to surrounding competitive buildings being purchased for demolition/construction of warehouses would benefit DYAD South Bay significantly going forward.
