IRVINE, CA –The South Bay office market has a newly renovated Class A building following significant interior and exterior renovation by Bixby Land Company, an Irvine, CA-based commercial real estate operator and investment manager that has been particularly active in the redevelopment of office projects over the past several years.
Bixby acquired the LEED-certified and Energy Star-rated office building in 2012 and began a $6 million repositioning to attract area companies seeking high identity office space in the South Bay. The eight-story, 291,711-square-foot building, located in Torrance, CA, is already home to several well-known companies, including Bank of America, Wells Fargo Insurance and Morgan Stanley Smith Barney.
“We redesigned Pacific Center to position the property as the premier building for professional office space in the South Bay,” said Bill Halford, president and CEO of Bixby Land Company.
Bixby’s renovation has created inviting new entry points to the building, including a furnished outdoor gathering area for tenants and enhanced, contemporary landscape design at the building’s Hawthorne Blvd. elevation. The lobby and common areas have been upgraded, while interior spaces have been renovated with move-in ready office suites in the 1,500 to 10,000 square-foot range.
Bixby has already signed seven leases totaling 40,764 square feet at Pacific Center, including a 19,311-square-foot deal with LivingSocial. Colliers International is exclusive leasing agent for the property, led by the team of Senior Executive Vice President Eric Lastition, Vice President Doug Brawnand Associate Thacher Goodwin.
Pacific Center located at 21250 Hawthorne Blvd. is close to abundant retail amenities, including the adjacent Del Amo Fashion Center. Parking is available in a five-story parking structure, and the building is located close to executive housing in nearby Manhattan Beach and the Palos Verdes Peninsula.
The newly completed renovation is among several projects that Bixby has underway. The firm is currently redeveloping a five-story office building at 2101 El Segundo Blvd. in El Segundo, CA, and is under construction on a three-building office campus redevelopment in Silicon Valley. Both of these projects are slated for completion later this year.
About Bixby Land Company
Bixby Land Company is a leading commercial real estate operator and investment manager with a portfolio of office, industrial and R&D properties of approximately $1 billion. The company is active in the repositioning and redevelopment of office and R&D properties in select Western U.S. markets. Bixby is primarily engaged in core industrial investments and value add office and R&D properties. Bixby Land Company, a privately-held REIT, has a vertically integrated operating platform backed by a veteran management team. For more than 100 years, Bixby Land Company has been committed to adding value for its investors and shareholders. www.bixbyland.com.