10:00 AM
Newmark Grubb Knight Frank (NGKF) Capital Markets has completed the sale of 20050 S. Vermont Ave. in Torrance, Calif., on behalf of R.C. Colyear Properties, LLC, a local private investor, for an undisclosed sum. The one-story, 31,000-square-foot property situated on five acres was formerly occupied by ITT Technical Institute.
NGKF senior managing directors Hook McCullough and Jim Jandro, who are based in NGKF’s Newport Beach and El Segundo offices, respectively, handle private client investment sales.
The new owner, Shalom Church of Southern California, plans to repurpose the building for religious use, and will conduct services in Korean for members of its congregation, according to Mr. McCullough.
Shalom Church was represented by James Kong of Coldwell Banker Commercial.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, Newmark Grubb Knight Frank employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
With roots dating back to 1929, Newmark Grubb Knight Frank’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, Newmark Grubb Knight Frank serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark Grubb Knight Frank is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.