{"id":1004199524,"date":"2017-12-07T08:55:23","date_gmt":"2017-12-07T16:55:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199524"},"modified":"2022-12-08T14:43:04","modified_gmt":"2022-12-08T22:43:04","slug":"nkf-brokers-south-bay-office-asset-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nkf-brokers-south-bay-office-asset-sale\/","title":{"rendered":"NKF Brokers South Bay Office Asset Sale"},"content":{"rendered":"<p>By Razvan Cimpean<\/p>\n<div id=\"attachment_1004199525\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Redondo-Beach-Business-Court-in-Redondo-Beach-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004199525\" data-attachment-id=\"1004199525\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nkf-brokers-south-bay-office-asset-sale\/redondo-beach-business-court-in-redondo-beach-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Redondo-Beach-Business-Court-in-Redondo-Beach-Calif..jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Redondo Beach Business Court in Redondo Beach, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Redondo Beach Business Court in Redondo Beach, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Redondo-Beach-Business-Court-in-Redondo-Beach-Calif..jpg?w=640\" class=\"wp-image-1004199525 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Redondo-Beach-Business-Court-in-Redondo-Beach-Calif..jpg\" alt=\"Redondo Beach Business Court in Redondo Beach, Calif.\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Redondo-Beach-Business-Court-in-Redondo-Beach-Calif..jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Redondo-Beach-Business-Court-in-Redondo-Beach-Calif..jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004199525\" class=\"wp-caption-text\">Redondo Beach Business Court in Redondo Beach, Calif.<\/p><\/div>\n<p>Gramercy Property Trust sold Redondo Beach Business Court to Miramar Capital. The 124,400-square-foot office building in Redondo Beach, Calif., changed hands for $36.7 million.<\/p>\n<p>The two-building asset, located at 3701 Doolittle Drive, was completed in 1985 and underwent cosmetic renovation in 1989. The building offers more than 200 parking spaces and convenient access to interstates 105 and 405. Redondo Beach Business Court was 58 percent occupied at the time of sale, with less than two years remaining on the lease term for its tenant Northrop Grumman. The property is situated near multiple restaurants and hotels, including Annapurna Indian Restaurant, Spires Restaurant and SpringHill Suites by Marriott.<\/p>\n<p>NKF Capital Markets\u2019 Kevin Shannon, Ken White, Michael Moore, Eric Adams, Chris Strickfaden and Eric Lastition negotiated the transaction on behalf of the seller.<\/p>\n<p>According to Yardi Matrix data, Gramercy Property Trust acquired the asset in 2015 from Dividend Capital as part of a multi-state, 16-property portfolio sale totaling nearly 1.5 million square feet of industrial space, 1.1 million square feet of office space\u00a0and\u00a0a 106,000-square-foot data center.<\/p>\n<p>The new deal comes a few days after a joint venture between EverWest Real Estate Partners and Frontal Trust acquired LINQ, a 50,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/everwest-jv-acquires-south-bay-office-building\/\">Redondo Beach office building<\/a> located half a mile from Redondo Beach Business Court.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Miramar Capital purchased a 124,000-square-foot office building in Redondo Beach, Calif., from Gramercy Property Trust. At the time of sale, the asset was 58 percent occupied. <\/p>\n","protected":false},"author":753,"featured_media":1004199525,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21747,15],"tags":[33227,38163,33532,36007],"class_list":["post-1004199524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-office","category-west","tag-gramercy-property-trust","tag-ken-white","tag-kevin-shannon","tag-newmark-knight-frank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NKF Brokers South Bay Office Asset Sale - 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\/nkf-brokers-south-bay-office-asset-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NKF Brokers South Bay Office Asset Sale\" \/>\n<meta property=\"og:description\" content=\"Miramar Capital purchased a 124,000-square-foot office building in Redondo Beach, Calif., from Gramercy Property Trust. At the time of sale, the asset was 58 percent occupied.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nkf-brokers-south-bay-office-asset-sale\/\" \/>\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=\"2017-12-07T16:55:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:43:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Redondo-Beach-Business-Court-in-Redondo-Beach-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nkf-brokers-south-bay-office-asset-sale\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nkf-brokers-south-bay-office-asset-sale\/\",\"name\":\"NKF Brokers South Bay Office Asset Sale - 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