3007 Washington Blvd., Marina del Rey CA
Class B Office/Retail Building
11,312 rsf / 2 Stories
Built 1974, renovated 2019
Ownership: Vectra Management Group
Marketing & Leasing
Advise on spec suite build out
Abbot Kinney adjacent traditional office and retail building with rents of $2.00/rsf/month in Q2 2017.
Positioning and lease up of 20% vacant office space, and once stabilized, a sale of the asset.
Advised ownership on new strategy for lease up to obtain highest rents and best position for sale. Advised on spec build out and conversion of vacant suites into creative office with exposed ceilings, concrete floors, and open plan. Implemented use of the AIR lease form to streamline the lease review process.
Brought building to 90% occupancy, then sold building to current ownership. rsfLA was retained by new ownership to continue with the leasing assignment. After the sale and partial renovation, rsfLA achieved rents on turn in excess of $5.10/rsf/month. Tenants include a mix of tech, marketing, entertainment, and fitness companies.