The property asset involved in this lease transaction is an office space located at 3701 Doolittle Drive in Redondo Beach. The asset encompasses a total square footage of 124,400, with a focus on the strategic location adjacent to the 110-acre Space Park campus.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 3701 Doolittle Drive
• Market: Redondo Beach
• Landlord: Paul Fuhrman - Miramar Capital; Garrison Investment Group
• Tenant: Kathy Warden - Northrop Grumman

This lease renewal highlights the ongoing commitment of Northrop Grumman, under the representation of Kathy Warden, to maintain its presence within the South Bay aerospace hub. The landlord, represented by Paul Fuhrman of Miramar Capital and Garrison Investment Group, benefits from the long-term stability afforded by this agreement as it underscores the resilience of the submarket amidst a wider context of elevated vacancy rates across the Los Angeles office market.