New retail and office condos to open downtown

Downtown Manhattan Beach shoppers stroll past 1300 Highland Shops and Worklofts, where an open house will be held tomorrow night. Photo by Andrea Ruse

 

by Andrea Ruse

A new, high-end 34-unit commercial condo complex in downtown Manhattan Beach will be available to the public at an open house tomorrow in downtown Manhattan Beach. 

“This project is a commercial real estate response to the way technology has changed the way people work in a more decentralized location,” said Bryn Stroyke, owner of Stroyke Properties. “A lot of folks would love to have a satellite office that gets them out of the house. What’s better than being in a cool, downtown building in Manhattan Beach?” 

The property, called 1300 Highland Shops & Worklofts, is the brainchild of developer Nick Schaar of Schaar Homes and Buildings, who teamed up with broker Stroyke for a second attempt at building an upscale retail and office condominium complex in the beach cities. 

In 2008, Schaar completed a 53-unit commercial complex at 200 Pier Avenue in Hermosa Beach, with Stroyke — then owner of Vintage Properties Company — handling the sale of the properties. Four weeks after the project’s ribbon-cutting, Schaar filed for Chapter 11 bankruptcy, after Vineyard Bank, the holder of a $13.5 million construction loan declined to renegotiate the loan’s terms. 

Stroyke said that before the Pier Avenue property foreclosed, there were more than 20 buyers in escrow. 

“It was bad news for the project, the buyers, the investors and the bank too,” he said. “The loan expired at a bad time in the real estate market and the developer couldn’t get the bank to extend the loan. It would have otherwise been a successful project and it still will be for whoever buys it,” Stroyke said. 

Stroyke praised the work of Bank of the West, the lender for the Highland project, and architect Grant Kirkpatrick, owner of the Manhattan Beach-based firm KAA Design, both of whom he credited with the completion of the three-year project. 

The result is an upscale, beach modern, campus-style complex where Good Stuff Restaurant was located until it closed in 2006. 

The property features six retail storefront spaces, 24 private office suites and four units that can be used as either.

In a real estate economy that is inching along, at best, the building’s location, high quality design and materials, and the beach lifestyle component is expected to justify the $599,000 to $699,000 price tag for a 300 to 320 sq. ft. unit. 

“Grant is so extraordinarily talented,” Stroyke said. “I don’t think you can get a better architect and I don’t think you’re going to see another project like this. We pulled no punches from a quality standpoint.” 

Schaar said that each unit features residential quality finishes to attract local buyers who are looking for an office either away from home or downtown L.A., or who are business owners who have never had the opportunity to purchase, rather than lease, a downtown Manhattan office space. 

In the second-story units, vaulted ceilings lead to clearstory windows, which along with 12-ft. long sliding glass doors, provide natural light. Exposed beams and utility fixtures give each unit a loft feel. 

One of Stroyke’s favorite units overlooks the ocean, Uncle Bill’s Pancake House and a few trees, creating a picturesque scene. 

“Imagine working here?” he said. 

Each unit has a private patio and bathroom. Larger communal women’s and men’s bathrooms with locker rooms and showers are underground. 

“There is an athletic component,” Schaar said. “Being close to the bike path, surfing, volleyball, running on The Strand. It’s a place to go to work and, at lunch, go for a ride or a swim.” 

A sign that reads “surfboard storage” is posted next to a large closet located near multiple individual storage units. 

“I built it around what I’d want,” said Schaar, a surfer from Malibu. 

The property also features a 15-parking spot underground garage. Buyers will be provided with one Metlox Plaza parking lot permit. 

Schaar said the office condos will reduce the number of cars on the road, and boost the local economy by bringing in daytime customers to surrounding shops and restaurants. 

Completion of the complex has been an uphill battle. Schaar bought the property in 2006, but complications with the city, undergrounding and the financial meltdown caused the project to stop for six months. Also, the project’s original general contractor died mid-project. 

Schaar would not disclose details about building costs, saying only that the project was very expensive. 

The condo complex will be completed by next week, according to Schaar. Trimmings, signs and awnings still need to be added. 

“The most exciting part?” Schaar said. “Finishing.” 

The 1300 Highland Shops & Worklofts open house is scheduled from 4:30 p.m. to 7:30 p.m. tomorrow and  is located at 1300 Highland Ave. in Manhattan Beach. For more information about 1300 Highland Shops and Worklofts, call (310) 545-9595. ER 

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