Alexandra Farcas 
Omninet Capital recently purchased two metro Los Angeles office properties — one in Torrance and one in Commerce — for a total of $78 million.
In the first deal, Omninet bought a three-building office park in Torrance called Park Del Amo. Located at 2355 and 2377 Crenshaw Blvd., the 204,468-square-foot campus fetched $39 million. At the time of the sale, it was 92% occupied, with insurance consulting firm Keenan & Associates leasing 43% of the property.
The seller, TA Associates, was represented in the transaction by an NKF Capital Markets team comprised of Kevin Shannon, Ken White and Michael Moore. Omninet Capital was self-represented.
“This sale price represents a substantial discount to replacement cost and a massive basis advantage compared to the adjacent El Segundo office submarket,” Shannon said in a statement.
In the second deal, Omninet acquired Commerce Plaza, a two-building office complex situated at 5601 E. Slauson Ave. and 5701 S. Eastern Ave. The 194,908-square-foot property changed hands for another $39 million.
Commerce Plaza is home to 13 tenants, including DaVita Medical Management and Waste Management, as well as the County of Los Angeles. The County of Los Angeles plans to lease an additional 51,555 square feet here, which will bring occupancy to 100%.
NKF’s Shannon, White and Scott Schumacher handled the deal on behalf of the seller, Colony Capital. Once again, Omninet was self-represented.
“The current vacancy for this office submarket is one of the lowest in Los Angeles County as there are limited options for tenants seeking quality office space within the industrial-dominated Vernon/Commerce area,” Shannon said. “Commerce offers a superb credit tenant base with approximately 40% of the office product leased to federal, state and county tenants — in part due to the abundant free parking, central regional location and competitive occupancy costs — ultimately making it a desirable alternative to the downtown Los Angeles and Orange County office markets.”
