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MARINA DEL REY, CA-Two private investment groups based in LosAngeles have acquired the 72,644-sf Marina Square office and retailcenter from a Kennedy Wilson partnership for $45.5 million. Theproperty, at 4700 and 4720 Lincoln Blvd., consists of a 66,476-sf,class A three-story building and a corner pad building withground-floor retail space totaling 6,168 sf.
Built in 1981 and completely renovated in 2006, the property issituated on slightly more than three acres at the southeast cornerof Lincoln Boulevard and Mindanao Way, one of the highest-profileintersections on the Westside of Los Angeles. Kennedy Wilson boughtthe property in 2005 in a joint venture with Wachovia Securities, anon-bank affiliate of Wachovia Corp.
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