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News release

MANHATTAN BEACH, CA

Onni Group Purchases 310,000 SF Office Property in Manhattan Beach, Calif.

JLL to handle leasing at Manhattan Beach Towers


MANHATTAN BEACH, CALIF., Oct. 6, 2015 – Vancouver, Canada-based Onni Group, one of North America’s leading private real estate developers, has acquired Manhattan Beach Towers, a two building, 309,705-square-foot Class A office complex located at 1230 and 1240 Rosecrans Avenue in Manhattan Beach, California for $95 million. 

Onni Group is in the process of finalizing plans for a renovation which will include an innovative amenity floor that provides a unique work environment for a wide array of office users. The amenity floor will include an Onni Wifi Lounge, gym and first-class changing rooms and shower facilities to enhance the Manhattan Beach lifestyle. Onni plans to build first class spec suites offering exposed ceilings, polished concrete and innovative collaboration space.

Leading the leasing efforts for the property are JLL Managing Director Steve Solomon, Vice President Jason Fine and Associate Kristen Bowman. Manhattan Beach Towers is able to accommodate a variety of requirements ranging from approximately 1,500 to 128,000 square feet of contiguous space.

“Manhattan Beach Towers is an office complex in the Rosecrans Corridor that, following the renovation, will be South Bay's crown jewel for Southern California firms looking for premier space,” said Solomon. “The project is surrounded by the South Bay’s most exciting new projects and developments. MBT is directly adjacent to The Pointe, El Segundo’s newest dining and entertainment center, Manhattan Village, currently undergoing major upgrades, less than a mile to the recently proposed Top Golf at The Lakes at El Segundo and just a 5 minute bike ride from a morning surf in Manhattan Beach. Onni Group is bringing fun to the office by renovating Manhattan Beach Towers to meet the needs of today’s live-work lifestyle in one of the world’s greatest beach cities.”

Located just minutes from the San Diego (I-405) Freeway and Los Angeles International Airport, Manhattan Beach Towers offers efficient floorplates, large courtyard, subterranean parking and views of Downtown Los Angeles and Palos Verdes. The office complex is located near transportation corridors providing immediate access to Southern California communities like Santa Monica, Venice, and Playa Vista.

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About Onni Group
The Onni Group is one of North America’s leading private real estate developers, with extensive experience designing, developing, building and managing innovative projects. As a fully integrated company that directly oversees every step in the development process, Onni has built over 5,000 homes in the past decade. In addition, the company owns and manages 5 million square feet of commercial property and over 3,600 rental apartment units. With offices in Vancouver, Toronto, Chicago, Los Angeles, Phoenix, and Mexico, Onni continues to expand and diversify into new markets throughout North America.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.