Santa Monica investment, management and development firm Montana Avenue Capital Partners plans to turn a 50,000-square-foot Class C industrial building it purchased in Redondo Beach into creative office space.
Montana purchased the property at 2400 Marine Ave. for roughly $10 million, or $200 a square foot, from Klein Family Partnership, a family trust.
The buyer will invest an additional $2 million to redevelop the property into a high-end creative office campus with concrete floors and exposed ceilings.
Steve Solomon of JLL represented the buyer and will handle leasing at the building, which currently has 16,530 square feet vacant, according to CoStar. The seller was represented by Luke Staubitz, Harvey Beesen and Andrew Dilfer of JLL.
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