Epson Madrona sells to REIT

Grubb & Ellis represented Santa Ana, Calif.-based Triple Net Properties in the purchase of Epson Madrona, a 211,388-square-foot office building in Torrance, Calif.

The transaction was valued at $46 million.

The three-story building, which is located at 20770 Madrona Ave., was 85 percent leased at the time of sale. The property is leased on a long-term basis to Honda, Kaiser Permanente and Navcom/John Deere.

The asset was sold by Southwest Value Partners of San Diego.

Kevin Shannon of Grubb & Ellis' South Bay office represented the buyer and the seller in the transaction.

Grubb & Ellis is a global provider of integrated real estate services.

Send tips or a letter to the editor to newsroom@inman.com or call (510) 658-9252, ext. 124.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.