Westside-based Montana Avenue Capital Partners has purchased a 56,300-square-foot warehouse located at 5005 McConnell Ave. in Marina del Rey for $22.3 million or $396 per square foot from Maria Creative Office of Mustang, Okla.
Ian Strano, an executive vice president at NAI Capital, represented the seller. The buyer represented itself.
Teledyne Reynolds Inc., a contractor of aerospace and defense electronics, occupied the property for 39 years. The company will relocate to Torrance.
The property was built in 1969 and sits on 1.6 acres near the 90 freeway, close to Playa Vista and the Silicon Beach tech hub.
It was last sold in 2014 for $13.7 million, according to CoStar Group Inc.
Real estate reporter Ciaran McEvoy can be reached at email@example.com or (323) 556-8337.
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