(For more retail coverage, click GlobeSt.com/RETAIL.)

MARINA DEL REY, CA-Two private investment groups based in Los Angeles have acquired the 72,644-sf Marina Square office and retail center from a Kennedy Wilson partnership for $45.5 million. The property, at 4700 and 4720 Lincoln Blvd., consists of a 66,476-sf, class A three-story building and a corner pad building with ground-floor retail space totaling 6,168 sf.

Built in 1981 and completely renovated in 2006, the property is situated on slightly more than three acres at the southeast corner of Lincoln Boulevard and Mindanao Way, one of the highest-profile intersections on the Westside of Los Angeles. Kennedy Wilson bought the property in 2005 in a joint venture with Wachovia Securities, a non-bank affiliate of Wachovia Corp.

According to Mary Ricks, the president of Kennedy Wilson’s investment sales and finance group, the project began as a dated strip mall plaza that the sellers “transformed into a first class asset.” Kennedy Wilson provided the asset management, construction management and leasing for the project. In addition, the company’s investment sales and finance group brokered the sale.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.