Redondo Plaza 555 W Redondo Beach Blvd 51,412 SF 97% Leased Office Building Gardena, CA 90248 For Sale

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. Free Enterprise Zoning affords Medical and Congregational uses at the property. 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. Ownership currently self-manages the property. Many Tenants have lower than average base rents with potential for extension and upside. All leases are Modified Gross basis with a load factor for common areas of approximately 13%. New Leases signed are upward of $2.00 per foot.