ValueRock Realty Acquires a Value-Add Mixed Use Retail and Office Property in Manhattan Beach, CA
IRVINE, Calif., January, 2023 – ValueRock Realty, one of the nation's leading real estate investment and operating companies has acquired the 4,093-square-foot commercial project located at 1212-1220 Highland Ave., in the heart of Manhattan Beach, CA for $11 million. The property is comprised of a mix of retail and office units on 0.15 acres of land. ValueRock purchased the property through a 1031 exchange.
The property is situated in the dense downtown business district at a hard-corner location with a private parking field, mere blocks from the beach.
In an effort to attract new tenants and to appreciate the value of the property over time, ValueRock plans to refresh the exterior of the building with new paint and new architectural elements.
About ValueRock Realty: ValueRock is one of the nation's leading real estate investment and operating companies. We seek to bring a strong, innovative entrepreneurial mindset to generate a positive impact and long-term value for our investors, assets, and communities. In operation for over 30 years, ValueRock brings a track record of over $30B in transactions in investment management, asset management, financing, development, leasing, and operations.