EverWest JV Acquires South Bay Office Building
A joint venture between EverWest Real Estate Partners and Frontal Trust purchased a 50,000-square-foot creative office asset in Redondo Beach, Calif.
By Razvan Cimpean
Rendering of LINQ in Redondo Beach, Calif.
EverWest Real Estate Partners teamed up with Frontal Trust to acquire LINQ, a 50,000-square-foot creative office building in Redondo Beach, Calif. Montana Avenue Capital Partners sold the asset. The joint venture is set to pursue office acquisition opportunities in Austin, Boston, Denver, Miami and Northern and Southern California.
The one-story property, located at 2400 Marine Ave., was completed in 1964 and converted to office earlier this year. The property features a new lobby, bathrooms, tenant common area and a wrap-around boardwalk. At the time of sale, the asset was 80 percent leased by Uber and Amazon. LINQ is situated within a few miles of multiple restaurants, shopping centers and hotels, including Al-Noor Restaurant, One Shopping Center and Hilton Garden Inn.
JLL’s Steve Solomon and Kristen Bowman represented the seller in the transaction.
Earlier this year, EverWest and Accordia Realty Ventures secured financing for their New York-area warehouse distribution building.
Image courtesy of EverWest Real Estate Partners
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