Cedars-Sinai buys medical office building in South Bay

Adds property next to Torrance Memorial Medical Center, an affiliated hospital

3440 Lomita Boulevard (Loopnet)
3440 Lomita Boulevard (Loopnet)

Cedars-Sinai Medical Center bought a medical office building next an affiliated hospital in Torrance, The Real Deal has learned.

The property, at 3440 Lomita Boulevard, changed hands in a $37.8 million deal, public records show. The office building is adjacent to the Torrance Memorial Medical Center at 3330 Lomita Boulevard, a 512-bed medical center that operates as part of the Cedars-Sinai Health System.

The seller is George Smith Marital Trust, managed by Pamela Jean Smith, records show. It’s unclear how long the Smiths have owned the property; their names appear on documents relating to the asset dating back to 1997.

The 3440 Lomita Boulevard property is a one-story, 74,301-square-foot building that sits on a 3.5-acre lot. It is currently leased to tenants such as Acuity Eye Group and Labcorp.

Cedars-Sinai is currently undergoing expansion in several locations. It recently announced plans to expand its main hospital campus in Beverly Grove. The proposal for that project, at 8700 West Beverly Boulevard, requires approvals for a zone change and updates to a master plan dating back to 1993, according to a previous report from Urbanize LA. The expansion will involve the construction of a new tower at the intersection of Third Street and San Vicente and a new building at the corner of Alden Drive and George Burns Road.

Cedars-Sinai is also expanding its Marina del Rey hospital. That project, which is expected to be completed in 2025, will nearly triple the hospital’s square footage.

Representatives for Cedar-Sinai did not respond to a request for comment.