Montana Avenue Capital Partners (MAC), a Santa Monica, CA-based real estate company, has purchased a Class C industrial building at 2400 Marine Avenue in Redondo Beach, CA with plans to convert it into a creative office property. MAC purchased the property for $9.5 million from its original owner, Klein Family Partnership, with plans to invest another $2 million in the conversion, which will be rebranded as a collaborative workspace called "LINQ on Marine." Full terms of the deal were not disclosed. MAC was represented by JLL’s Steve Solomon, who will also handle the building’s leasing. The seller, Klein Family Partnership, was represented by JLL’s Luke Staubitz, Harvey Beesen and Andrew Dilfer.
"The South Bay continues to be transformed into a highly desirable location for companies looking for creative office space," said JLL Los Angeles' Steve Solomon. "2400 Marine Avenue is ideal for companies to attract and retain highly sought after professionals in this competitive environment. We have seen interest from several industries from healthcare to trade and imports to fashion apparel to technology and new media."
New features of the metro-adjacent property will include: polished concrete floors and exposed ceilings, glass roll-up doors, skylights, indoor/outdoor collaborative workspace and wraparound patio spaces, EV charging stations, new tenant signage, and upgraded landscaping.
For more news and information visit Blumberg Partners.
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