2023 Office Lease Market

Profile of the Torrance Office Market

In recent years the South Bay office market nearer LAX have outperformed Torrance capturing new Class A entertainment, tech, media and financial services tenants.  El Segundo will suffer in 2024 as technology & entertainment companies begin to reduce their space requirements due to permanent work-from-home policies & changing business climate. Torrance, on the other hand, is near southwest border of Los Angeles County and home to the US headquarters of Honda Motors.  The Del Amo Fashion Center and The Crossing bring strong appeal to the Hawthorne Boulevard financial district. High end luxury brand stores are onsite at one of the five largest malls in United States.

 

Occupiers/tenants in Torrance are more traditional office users insulating it to some degree from the fast moving “techtainment” or media markets.  Lease rates are about a $1.50 less than new Class A near the airport, and strong capitalized landlords have made significant investments into amenities and other project improvements during Covid to remain competitive and attract tenant faced with high rental rates. Please have a look at Torrance office space available for lease

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