Profile of the Torrance Office Market
In the last 10 years the South Bay office market in El Segundo and Manhattan Beach has largely outperformed Torrance by capturing new Class A entertainment, tech media and financial service tenants. But in 2024 the LAX airport area started suffering a huge downturn as technology & entertainment companies reduce their space requirements due to permanent work-from-home policies & changing business climate. Torrance, on the other hand, is very stable partially because it is the southwest border of Los Angeles County and home to Toyota Finance, Motorcar Parts, Sketchers, Honda, Herbal Life, Torrance Memorial and UCLA Health. 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 from the 2024 partial meltdown in “Techtainment” near LAX. 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 improvements to remain competitive and attract tenant faced with high rental rates. Please have a look at Torrance Office Space available for lease
