HATCHspaces Acquires Office Property In Marina Del Rey For $46.8M

The recently closed property transaction in Marina del Rey involved the sale of an office asset located at 5005 McConnell Avenue. The property spans approximately 56,300 square feet and was sold for a total of $46,800,000, resulting in a price per square foot of $831. The transaction took place on March 14, 2022.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $46,800,000
• Address: 5005 McConnell Avenue
• Market: Marina del Rey
• Buyer: HATCHspaces - Allan Glass, NexCore Group & Nuveen Real Estate
• Seller: Montana Avenue Capital Partners
• Brokers: Sean Sullivan, Andrew Riley, Mike Longo, Todd Tydlaska, Greg Grant, Jeff Pion & Michelle Esquivel - CBRE

In this transaction, HATCHspaces, represented by Allan Glass, NexCore Group, and Nuveen Real Estate, acquired the property from Montana Avenue Capital Partners. The deal was facilitated by a team of brokers from CBRE, including Sean Sullivan, Andrew Riley, Mike Longo, Todd Tydlaska, Greg Grant, Jeff Pion, and Michelle Esquivel.