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California  + Los Angeles  + Office  | 

Miramar Capital JV Recapitalizes Northrup Grumman-Leased Asset in Redondo

Miramar Capital and its joint venture partner, an affiliate of Garrison Investment Group, recapitalized 3701 Doolittle Drive, a single-tenant, 124,400-square-foot office property and a separate 17,300-square-foot day-care center in Redondo Beach, CA. The asset is 100% leased to Northrup Grumman on a triple-net basis.

The JV owners acquired the asset for $36.7 million in 2017. With this current transaction, Miramar Capital has now recapitalized 3701 Doolittle with long-term equity, retaining full ownership.

NKF’s Kevin Shannon, Ken White, and Michael Moore, directed the transaction on behalf of the seller and buyer.

Located adjacent to Northrop Grumman’s Space Park, the property provides a seamless extension of Northrop Grumman’s main campus. Northrop Grumman, or its affiliates, has been a tenant at 3701 Doolittle since it was developed in 1986. The global aerospace and defense technology company recently signed a new seven-year lease extension through August 2026.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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