The Real Deal Los Angeles

Miramar Capital picks up Torrance office building for $19M

The newly-formed company acquired several properties in the LA area in the last year
April 16, 2018 05:30PM

From left: Miramar Capital managing partners Perry Hariri, Jae Yi and Paul Fuhrman with property at 20285 Western Avenue (Miramar Capital)

Real estate firm Miramar Capital paid $19 million for an office building in Torrance, the latest in what has been a series of acquisitions in the Los Angeles area since the company formed last year.

The Santa Monica-based Miramar’s purchase of the 77,200-square-foot building comes out to $247 per square foot.

The seller was El Segundo-based Mar Ventures, according to the Los Angeles Business Journal, which reported on the deal.

The three-story building, located just south of the 405 freeway near the former Toyota campus, sits on nearly 4 acres of land. Tenants include Verengo Solar, Maritz Research and South Bay Environmental Services Center.

Kevin Shannon, Kevin White and Michael Moore of NKF Capital Markets represented Mar Ventures. Miramar was represented in-house.

Miramar, a recently-launched company formed by former Colony NorthStar employees, focuses on office and multifamily investments. It owns a 75,700-square-foot office building at 1899 Western Avenue, located a few blocks away from the new purchase; as well as some properties in Redondo Beach, Hollywood and Mountain View. [LABJ] — Natalie Hoberman