REDONDO BEACH, CA- The iconic Dive n' Surf shop, which has been a South Bay fixture since 1953, has received a $3-million refinancing that will allow it to build a new corporate headquarters here.

The inventors of Body Glove, the original wetsuit manufacturer, the Dive n' Surf has been a landmark in the Southern California beach culture. Farmers & Merchants Bank will provide the funding for the store renovation, which includes a new corporate headquarters on the building's second floor and a renovated retail space on the ground floor.

The expansion will take the building from 6464 square feet to nearly 14,800 square feet, allowing Body Glove to remain in the South Bay area. In addition to providing expanded retail floor space and offices, Body Glove plans improvements to the surrounding streets to improve accessibility and beautify the area.

“Farmers & Merchants Bank has been our bank since 1966 and has grown alongside us ever since,” Body Glove International president Russ Lesser tells GlobeSt.com. “Their special faith and confidence in us and our relationship through the decades has helped us reach this milestone.”

“The new facility will ensure that this historic brand remains right where it all started, at the epicenter of California surf culture,” said Jeff Spinelli, SVP with Farmers & Merchants Bank, who arranged the financing. The project is anticipated to be completed in August, coinciding with Body Glove's 60th anniversary.

As previously reported by GlobeSt.com, Redondo Beach has a major waterfront revitalization underway.