EverWest nabs creative office — home to Uber and Amazon – in Redondo Beach

The seller, Montana Avenue Capital Partners, nearly doubled its investment

TRD LOS ANGELES /
Dec.December 05, 2017 04:00 PM
Erik Good and the property at 2400 Marine Avenue in Redondo Beach (Credit: EverWest. JLL Property)

EverWest Real Estate Partners, an investment and management firm based in Denver, and Chilean-based Frontal Trust paid $17.9 million to acquire the creative office building at 2400 Marine Avenue in Redondo Beach, The Real Deal has learned.

The seller, Santa Monica-based Montana Avenue Capital Partners, profited nicely from the sale. It acquired the site just two years ago for $9.6 million, according to property records.

The redesigned industrial building, dubbed “LINQ,” spans approximately 50,000 square feet, and sits on the corner of Marine and Redondo Beach avenues. Amenities at the recently renovated site include glass sliding doors, an expansive wifi-enabled deck and common areas featuring outdoor seating.

The property at 2400 Marine Avenue in Redondo Beach (Credit: JLL Property)

LINQ is currently 80 percent leased to Amazon and Uber, according to CoStar. E-commerce giant Amazon leased 20,000 square feet of industrial space and another 10,000 of office space in May 2015, set to expire in 2020. Meanwhile, Uber signed for 10,000 square feet of space in July 2016.

Steve Solomon and Kristen Bowman of JLL had the listing.

Neither EverWest nor Frontal Trust respond to requests for comment. Montana Avenue could not be reached.

EverWest has been making a name for itself in Southern California. Just this summer, it picked up a three-property industrial portfolio in the City of Industry for $20.9 million. That was nearly a year after it purchased a Pasadena office building for $67 million.


Related Articles

arrow_forward_ios
Jeff Bezos and the IAC Commerce Center (Credit: Phillip Faraone/Getty Images and IAC Commerce Center)

Amazon expands LA footprint with big warehouse lease

Amazon expands LA footprint with big warehouse lease
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
The AES power plant in Redondo Beach (Credit: Scott Varley/Digital First Media/Torrance Daily Breeze via Getty Images)

Redondo Beach Power plant sale could make way for redevelopment

Redondo Beach Power plant sale could make way for redevelopment
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Luzzatto Co. assembling creative office hub in West Adams
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...