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2/09/21
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Hawkwood Ventures paid $24 mil for Linq, a 50k sf ($480/sf) creative office campus in Redondo Beach. The property consists of two one-story office buildings located at 2400 Marine Ave, on the west side of the 405 Fwy about midway between Rosecrans Ave and Manhattan Beach Blvd.
Developed in 1964 and renovated in 2016, Linq features private tenant entrances, glass roll-up doors, skylights, wrap around boardwalk as well as new power, landscaping, lobby, restrooms and monument signage. It is strategically located just minutes from the I-405 Fwy and recently expanded Metrolink, providing convenience access to neighboring communities. The South Bay continues to be one of the largest and most active office and industrial submarkets in Los Angeles, with a diverse base of tenants from biotech to media to aerospace. Linq is 100% leased to multiple tenants.
JLL’s Steve Solomon, Kristen Bowman and Andrew Harper represented the seller, EverWest Real Estate Investors, in the transaction. The buyer represented itself. Solomon and Bowman have been retained by the new owner to market the campus for lease. This is the second time that the pair have handled the sale of this property in the past three years, having sold the building to EverWest in December 2017.
"While the COVID pandemic has slowed office investment and leasing activity, investors and tenants are still moving on well-located properties with strong fundamentals to achieve their goals," said Steve Solomon, JLL Managing Director. "The South Bay continues to be extremely active as companies recognize the area’s strong employment base, amenities and premier location.”
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