Steaven Jones Development Buys Marina Del Rey Redevelopment Site

Steaven Jones Development acquired the 11,344-square-foot retail building on a 51,401-square-foot lot at 4065 Glencoe Ave. in Marina Del Rey, CA from private investors for $17 million. The building was fully leased to two auto-related businesses at the time of sale. The buyer plans on tearing down the existing building to redevelop the property into multifamily and creative use. Daniel Hirth and Steven Schechter of Marcus & Millichap represented both the buyer and the seller in the sale. Please see CoStar COMPS #3563126 for more information on this transaction.