One of the priciest per-square-foot industrial deals of the last decade has closed in Torrance, and it’s no surprise that Amazon factors in.
Realterm US paid $81 million for a 118,000-square-foot former Costco wholesale store now undergoing a renovation and upgrade, according to the Los Angeles Business Journal.
The price pencils out to $548.33 a foot, more than twice the average for the area.
Amazon is leasing the space at 2751 Skypark Avenue that it will use as a warehouse, according to the report. About 12,500 square feet will be used for office and reception space.
The seller was Bridge Development Partners. The deal is nearly twice the $41.3 million that Bridge paid for the property last November.