{"id":1004128820,"date":"2015-10-07T08:53:14","date_gmt":"2015-10-07T16:53:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004128820"},"modified":"2020-05-14T00:32:06","modified_gmt":"2020-05-14T08:32:06","slug":"manhattan-beach-office-complex-changes-hands-for-95m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/manhattan-beach-office-complex-changes-hands-for-95m\/","title":{"rendered":"Manhattan Beach Office Complex Changes Hands for $95M"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

Canadian developer Onni Group<\/a> has announced the acquisition of Manhattan Beach Towers, a two-building, 309,705-square-foot Class A office complex located at 1230 and 1240 Rosecrans Ave. in Manhattan Beach, Calif.<\/p>\n

\"Manhattan<\/a>

Manhattan Towers in Manhattan Beach, Calif.<\/p><\/div>\n

The company purchased the property from CWCapital<\/a> of Bethesda, Md. at an auction this summer, according to the Los Angeles Business Journal<\/a>. The purchase price was approximately $95 million or roughly $310 per square foot, while the occupancy rate at the time of sale was 43 percent.<\/p>\n

Onni Group is currently finalizing plans for the property\u2019s improvements which will bring an innovative amenity floor with an Onni WiFi Lounge, gym and first-class changing rooms and shower facilities. Plans also call for first class spec suites featuring exposed ceilings, polished concrete and innovative collaboration space.<\/p>\n

The company has retained JLL<\/a> to handle the property\u2019s leasing activities. The team in charge of these efforts is led by JLL<\/a> Managing Director Steve Solomon, Vice President Jason Fine and Associate Kristen Bowman.<\/p>\n

Manhattan Beach Towers is located near the San Diego (I-405) Freeway and Los Angeles International Airport, and provides easy access to Southern California communities like Santa Monica, Venice, and Playa Vista.<\/p>\n

\u201cManhattan Beach Towers is an office complex in the Rosecrans Corridor that, following the renovation, will be South Bay’s crown jewel for Southern California firms looking for premier space,\u201d Solomon said in prepared remarks. \u201cThe project is surrounded by the South Bay\u2019s most exciting new projects and developments. MBT is directly adjacent to The Pointe, El Segundo\u2019s newest dining and entertainment center, Manhattan Village, currently undergoing major upgrades, less than a mile to the recently proposed Top Golf at The Lakes at El Segundo and just a 5 minute bike ride from a morning surf in Manhattan Beach. Onni Group is bringing fun to the office by renovating Manhattan Beach Towers to meet the needs of today\u2019s live-work lifestyle in one of the world\u2019s greatest beach cities.\u201d<\/p>\n

Photo credits: Onni Group <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Following renovation, the property is set to become South Bay’s crown jewel for firms looking for premier office space.<\/p>\n","protected":false},"author":260,"featured_media":1004128821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742,21747],"tags":[],"class_list":["post-1004128820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-los-angeles","category-latest","category-office"],"acf":[],"yoast_head":"\nManhattan Beach Office Complex Changes Hands for $95M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/manhattan-beach-office-complex-changes-hands-for-95m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manhattan Beach Office Complex Changes Hands for $95M\" \/>\n<meta property=\"og:description\" content=\"Following renovation, the property is set to become South Bay's crown jewel for firms looking for premier office space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/manhattan-beach-office-complex-changes-hands-for-95m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-07T16:53:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T08:32:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/Manhattan-Towers-in-Manhattan-Beach-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1382\" \/>\n\t<meta property=\"og:image:height\" content=\"778\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-beach-office-complex-changes-hands-for-95m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-beach-office-complex-changes-hands-for-95m\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Manhattan Beach Office Complex Changes Hands for $95M\",\"datePublished\":\"2015-10-07T16:53:14+00:00\",\"dateModified\":\"2020-05-14T08:32:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-beach-office-complex-changes-hands-for-95m\\\/\"},\"wordCount\":347,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-beach-office-complex-changes-hands-for-95m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/10\\\/Manhattan-Towers-in-Manhattan-Beach-Calif..jpg\",\"articleSection\":[\"Los Angeles\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-beach-office-complex-changes-hands-for-95m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-beach-office-complex-changes-hands-for-95m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-beach-office-complex-changes-hands-for-95m\\\/\",\"name\":\"Manhattan Beach Office Complex Changes Hands for $95M - 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