Hawkwood Ventures has purchased Linq, a creative office campus in Redondo Beach, for $24 million.
Located at 2400 Marine Ave., Linq features 50,000 square feet spread across two one-story buildings.
Jones Lang LaSalle Inc.’s Steve Solomon, Kristen Bowman and Andrew Harper represented seller EverWest Real Estate Investors in the transaction. Hawkwood Ventures was self-represented.
Solomon and Bowman will also serve as leasing agents for the campus. The two have a long history with the property and were involved in its sale to EverWest in 2017.
Built in 1964 and renovated in 2016, the property features tenant entrances and glass roll-up doors, as well as a new lobby and restrooms.
"While the Covid pandemic has slowed office investment and leasing activity, investors and tenants are still moving on well-located properties with strong fundamentals to achieve their goals," Solomon said in a statement. "The South Bay continues to be extremely active as companies recognize the area’s strong employment base, amenities and premier location.”
In the fourth quarter, asking rent for Class A office product in the South Bay was $3.70 a square foot, up 41 cents in two years, according to JLL data.
One of the biggest leases signed in Los Angeles County since start of the Covid-19 pandemic was in the South Bay. Meat substitute manufacturer Beyond Meat Inc. signed a 12-year lease for roughly 280,000 square feet at 888 N. Douglas St. in January.
The property, formerly a Northrop Grumman Corp. manufacturing and warehouse complex, is owned by Hackman Capital Partners.
