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December 18, 2018
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Marina del Rey Warehouse Building Acquired in $22 Mil Deal

6/21/18

Montana Avenue Capital Partners purchased a 56.3k sf warehouse building in Marina Del Rey for $22.3 mil, or $396/sf. The property, located at 5005 McConnell Ave, was sold by Marina Creative Office LP.

The building was occupied by Teledyne for 39 years. Teledyne is a government contractor of aerospace and defense electronics and will be relocating to Torrance. The new owner is planning a complete renovation of the project to creative office space. Built in 1969, the industrial building sitting on 1.59 acres is in one of the hottest creative office markets in the Country – Silicon Beach. The Marina (90) Fwy is one-quarter mile to the southwest and provides easy access to the San Diego (405) and Santa Monica (10) freeways.

Ian Strano with NAI Capital’s Investment Services Group repped the seller in the deal. The buyer represented themselves.





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