At a time when office buildings across Los Angeles continue to struggle with vacancies, one prominent Torrance property just secured nearly $65 million in new financing.

Related Companies and Cruzan obtained a $64.7 million refinancing for The Torrance, an eight-story, 301,000-square-foot Class A office property at 21250 Hawthorne Boulevard, adjacent to the Del Amo area. Waterfall Asset Management and Delaware Life provided the financing.

The building is reportedly 93% occupied, with tenants including All Nippon Airways, Morgan Stanley, Compass California, Unio Health Partners, Salon Republic and Barrister Executive Suites.

The financing is notable because the larger Los Angeles office market remains difficult. Greater L.A. office vacancy stood at approximately 25.3% after the second quarter, according to Newmark data cited by Commercial Observer.

The Torrance appears to be performing very differently.

The 1988 building has received substantial upgrades in recent years, including improvements to its elevators, HVAC systems, common areas, roof, amenities and exterior. It also offers a fitness center, café and more than 1,200 parking spaces.

There is also a larger Torrance story behind the numbers. The South Bay has benefited from increased demand tied to aerospace and defense companies, industries that have been expanding rapidly across Torrance and surrounding communities even as traditional office markets elsewhere struggle.

A refinancing by itself doesn’t guarantee what happens next. But a $64.7 million loan on a heavily occupied Torrance office building is a significant vote of confidence in a market where lenders have become increasingly selective.

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