Skechers USA acquired the Manhattan Beach Office Plaza at 225 S. Sepulveda Blvd. from Pacifica Capital Group. Kevin Shannon and Larry Daniels of Grubb & Ellis' South Bay office in Torrance represented both parties in the transaction.
Sales in the South Bay have been strong over the past several months, as vacancies continue to drop and rental rates rise. Divco West recently completed its $55-million purchase of the 310,000-sf Manhattan Beach Towers office complex nearby. And just a few miles north, in El Segundo, a pension fund advised by Brentwood-based Lowe Enterprises Investment Management Inc. last month paid more than $50 million for a 246,000-sf office building and an adjacent site, where the pair plans to build another 90,000 sf.
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