CASE STUDY - PROJECT LEASING

LIDO MARINA VILLAGE

NEWPORT BEACH, CA

SUMMARY

With an idyllic coastal location on the harbor in stunning Newport Beach, boasting dramatic water views and a delightfully scaled village ambience, Lido Marina Village is a unique mixed-use project offering a carefully curated group of shops, waterside eateries and creative office users.

Originally established in 1971 and tipping its hat to an authentic, bayside location and rich local history, the 116,000 square foot mixed-use project has undergone aesthetic upgrades and design enhancements to meet local residents’ desire for a charming, invigorated local icon.

SITUATION

Developed in the early 1970’s as a pedestrian-friendly shopping and dining district, the project had been long neglected by absentee owners resulting in the project being 75% vacant for several years. Following their acquisition of the project in late 2013, DJM Capital Partners engaged Redwood West to reposition the second and third stories as Orange County’s best in class creative option.

 

ACTION

Between comprehensive marketing, a “hands-on” approach” to selective demolitions, construction of spec suites and leveraging Redwood West’s tenure as waterfront market leaders, the project has gone from complete vacancy to over 85% leased with rents that are on par with “Class A” Newport Beach high rises.

RESULTS

The project has gone through an extensive rehabilitation and repositioning as a creative office and retail campus. The end result being the new standard in curated retail and high quality creative office in Orange County – leading the market in occupancy and rates. Most notable tenants include Nobu Sushi, Elyse Walker, Warby Parker and Steven Alan.