555 Redondo Beach Blvd

Jeff Galvan of Commercial Asset Group has been selected exclusively to market for sale 555 Redondo Beach Boulevard in Gardena, a 51,412 square foot multi-tenant office building situated on 2.13 acres (91,763 square feet) of land.

555 Redondo Beach Boulevard in Gardena, California. This 2 level office building complex features immense amenities both in location and investment. The property is situated on Redondo Beach Boulevard in between the 110 Freeway and McDonalds at Figueroa Avenue. Irreplaceable Freeway visible land with optimum 110 freeway visibility and access. The property is governed by the City of Los Angeles and is located in the Harbor Corridor Free Enterprise Zone allowing multiple use exemptions and civic benefits.

Built in 1982, the building is approximately 98% leased to a diverse mix of tenants that are regional and community based. Martin Luther King Jr. Community Hospital, Montes Medical Vocational Schools, SEIU Labor Union, EECI and Twinkle Tots just to name a few. The building also has income from cell phone towers on the roof.

This fully stabilized asset boasts a strong history of occupancy with multiple tenants with more than a decade of tenancy, with options to extend for 3 years. Many Tenants have lower than average base rents with potential for extension and upside. Average combined base rents of all tenants is currently approximately $1.55 per foot Gross. All leases are Modified Gross basis with a load factor for common areas of approximately 13%.