CORFAC News

TORRANCE, CA – A four-building complex of brick buildings in the Torrance, CA, area has been acquired by Shubin – Nadal Realty Investors (SNRI) for $11.8 million with plans to expand its inherent architectural features by re-remodeling and re-positioning it for flexible industrial, retail and potentially creative uses, announces The Klabin Company/CORFAC International.

Todd Taugner, SIOR, a partner in the Torrance office of The Klabin Company, said Newport Beach, CA-based SNRI purchased the strategically located buildings totaling 108,000 sq. ft. located on 5.3 acres of land at 19100-19122 S. Vermont Ave. The site is situated within one minute from the on/off ramps of the San Diego (405), Harbor (110) and Artesia (91) Freeways.  Two of the buildings comprise 30,100 sq. ft., and the others 24,000 sq. ft.

Taugner, David Prior, SIOR, and Frank Schulz, SIOR, also Klabin firm partners, represented both SNRI and Penwood Real Estate Investment of Hartford, CT, its joint venture partner, and Silmor Investments Co. LLC, the seller.  Taugner, Prior and Schulz will exclusively market the new development.

“These 1960 vintage buildings are prime candidates for re-modeling and re-repositioning both for their existing features and location in one of the country’s largest and most supply-constrained industrial markets.  In fact, the industrial vacancy rate in the Torrance submarket stood at three percent at the end of the fourth quarter of 2014,” Taugner said.  He noted that two of the structures feature glu-lam, bow truss roofs.

Bill Shubin, a partner of SNRI along with Lonnie Nadal, reports that re-modeling and re-positioning of the property is scheduled to begin in the Spring of 2016, with an expected completion in the summer of next year.

“While the buildings will be fundamentally industrial, our re-modeling will take advantage of their creative architectural features and high traffic count to lend them the flexibility for traditional industrial, wholesale, retail and potentially creative uses,” Shubin said. 

About SNRI
SNRI is a Southern California-based investment, development and asset management company which acquires, repositions and develops commercial real estate along the West Coast.  The firm focuses on infill investments which require innovative real estate solutions.

About The Klabin Company/CORFAC International
Now in its sixth decade, The Klabin Company/CORFAC International is ranked among the top 25 commercial real estate companies based in Los Angeles.  The firm has offices in Los Angeles and Torrance, and is affiliated with CORFAC International.  For more information go to www.klabin.com.