Beachfront office deal tops $17M

Site located on stretch of Pacific Coast Highway

A two-story office building situated on nearly 1.5 acres in Malibu, Calif., recently sold for $17.5 million. Santa Monica-based Kenmore Group LLC purchased the property from Beverly Hills-based Malibu Vista Partners. Originally built in 1980, the 30,742-square-foot building is located at 22761 Pacific Coast Highway. At the time of sale, the property was fully occupied and featured tenants such as Jakks, Wolf Designs, World Telecom, Heartbeat, Allen Agency, among others. ...