Unique office building in Manhattan Beach
400 S.Sepulveda Blvd
Manhattan Beach, CA
Office acquisition (value-add)
39,000 square feet
400 S. Sepulveda occupies a unique niche in the local marketplace. In addition to being one of the few high quality office buildings along the Sepulveda Boulevard corridor, the building is permitted for medical use and consequently has ample parking. The building also commands above-market premiums because it offers ocean views to the west and open views of the high-end residential community to the east. At the time of acquisition, the building was 87% leased, previous ownership having failed to take advantage of the building’s competitive advantages. The principals initiated a complete remodel of the interior common areas, which contributed to tenant retention. The building’s anchor took on additional space and renewed their lease; 18 months after acquisition, the building was fully leased.
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