Manhattan Beach Mayor Burton wants more public/private developments
The twin, six-story Manhattan Beach Towers on Rosecrans Avenue sold for $96 million last August. The price set a record for a commercial property sold online, despite the buildings being only half leased. The sixth floor of one of the towers was occupied by Digital Ventures, a newly formed, 70-employee subsidiary of the Boston Consulting Group. The technology and design consulting company is planning to expand to three more floors to accommodate an additional 230 employees employees. Manhattan Beach Mayor Mark Burton explained the company’s selection of Manhattan Beach for its international headquarters by saying, “Successful businesses recognize opportunity before everyone else.” Then he added, “All of Silicon Beach is looking for places and we should seize that opportunity.” Burton’s observations came during his State of the City breakfast at the Manhattan Beach Joslyn Center last Wednesday, presented by the Chamber of Commerce. The mayor proposed his city take advantage of the Silicon Beach opportunity by building more hotels. “Manhattan’s hotel occupancy rate is 86 percent, among the highest in the nation,” he noted. One hotel location he proposed is the city-owned property…
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