Torrance Office Market Overview with Maps
Over the last decade, the South Bay office market, particularly El Segundo and Manhattan Beach, has outperformed the Torrance market by attracting entertainment, tech, media and institutional financial services tenants. However, in 2024, El Segundo began experiencing a heavy market downturn as employees were fired and space needs sank due to permanent work-from-home and other major industry changes and challenges.
By contrast, Torrance remains stable, partly because it’s on southwest border of L.A. County and is home to Toyota Finance, Motorcar Parts, Skechers, Honda, Herbalife, Torrance Memorial, and UCLA Health.
The Enclave on 190th Street is notable and very nice popular new development /makeover.
Del Amo Fashion Center catches some by surprise with high-end luxury brands like Tumi, Tesla, Dolce & Gabbana, Coach, and Nordstrom. It is one of the ten largest malls in the United States. The Crossing office project also adds strong appeal to the Hawthorne Boulevard financial district.
Occupiers and tenants in Torrance tend to be more traditional office users, insulating the area from the 2024 downturn in the “techtainment” sector near LAX. Lease rates in Torrance are about $1.50 less than new Class A spaces near the airport. Additionally, well-capitalized landlords have made significant investments in amenities and improvements to remain competitive and attract tenants facing high rental rates in El Segundo and Manhattan Beach.
Here is a link for “why Torrance” with a pitch deck and other solid information about business in Torrance: https://storymaps.arcgis.com/stories/e11911255ee04ae9aa83ec7a980e4e8d
We cherry picked a few office buildings for lease at TorranceOfficeSpace.com
