NAI Capital Negotiates Sale of Mixed-use Retail Building in Marina del Rey, CA
Los Angeles, CA January 24, 2019 – Senior Vice President Kay Sasatomi, CCIM, with NAI Capital’s West Los Angeles office completed the sale of a 3,897 square foot mixed-use retail and office building in Marina del Rey. Kay represented the buyer, Marina Elite Properties. The seller was Fort Smudge LLC. The property sold for $3.3M, or $841/SF.
The building is located at 2905 Stanford Avenue with frontage on a heavily trafficked retail corridor along Washington Boulevard, which sees more than 39,000 cars per day. The low-rise reinforced concrete structure was built in 1953 and enjoys excellent access to I-10 and I-405 and the nearby marina. The building was 100% leased at the time of sale.
“My client is excited at the opportunity to secure a property in a prime location on the Westside, just a few blocks away from Abbot Kinney west of Lincoln,” Kay said. “There is tremendous upside potential in this purchase.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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