2023 Office Lease Market

Torrance Office Market

In the last 10 years the South Bay office market consisting of El Segundo and Manhattan Beach has largely outperformed the Torrance Office Space Market by capturing new Class A entertainment, tech, media and financial service tenants.  But in 2024 El Segundo started suffering a huge downturn as technology & entertainment companies significantly reduced 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 Enclave on 190th is awesome and new.  And perhaps surprisingly, the Del Amo Fashion Center is home to high-end luxury brands like Tumi, Tesla, Dolce-Gabbana, Coash and Nordstrom.  The center is one of the ten largest  malls in the United  States. The Crossing office project also brings strong appeal to the Hawthorne Boulevard financial district. 

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

Recommended Posts