October 9, 2019
Harbor Associates acquired a 292,540-square-foot Class A office building along San Pedro’s waterfront from Jupiter Holdings for $43.5 million. The 11-story Topaz building is located at 222 W. 6th St., and includes an adjacent seven-story parking structure and 13,244 square feet of retail space.
It was constructed in 1990 and substantially occupied for many years by Logicon, which was acquired by Northrop Grumman. Northrop vacated in 2010. Subsequently, Jupiter acquired the asset and invested more than $10 million in renovations that are now completed.
NKF’s Kevin Shannon, Ken White and Scott Schumacher represented the seller. The buyer was self-represented.
Shannon says, “Downtown San Pedro and the Los Angeles waterfront are undergoing a major transformation into a true live/work/play destination, with major projects in various stages of construction. All of the new development, along with many new walkable restaurants, breweries and retail amenities, bodes well for Topaz as it’s the only true Class A office building in San Pedro.”
For comments, questions or concerns, please contact Dennis Kaiser