California Landmark Group Completes $120 MM G8 in Los Angeles' Marina Arts District

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LOS ANGELES - Rezul -- California Landmark Group (CLG) has announced the completion of the final phase of G8, the largest multifamily/commercial development in Marina del Rey's Marina Arts District. The $120 million project includes 228 rental units and 25,000 square feet of creative office space.

CLG was a forerunner in the transformation of the former industrial zone into a modern residential neighborhood, when it developed a 52-unit condominium in 2006.  With G8, CLG is the neighborhood's most prolific developer, having delivered nine mixed-use projects totaling nearly one million square feet of residential and commercial space.

Paying homage to the area's history as an industrial and artist's enclave, CLG commissioned local, national and internationally renowned street artists to create colorful interactive art throughout the neighborhood. Featured artists include Risk, Colette Miller, Oli-B, Bunnie Reiss, Ducexone, Wrapped, James Goldcrown, Beau Stanton and Damon Martin. Future exhibits will include a 350-foot-long freewall available to local artists.

"Our goal is to enhance community identity and provide a sense of place," said CLG founder Ken Kahan. "Street art is the beginning of that identification. Once the pandemic is behind us our public park and freewall at G8 will attract local residents to listen to lectures, concerts and simply enjoy our rotating art exhibit. We hope to attract other artists to other buildings in the community, with the long-term goal of creating a Westside street art district."

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"G8 and the other CLG projects in the Marina Arts District (including R1, R2, R3, C1, Del Rey Lofts, West End Condos, the Boatyard and the Container Lot) were designed to meet the demands of millennials and young professionals attracted to the lifestyle amenities and numerous employers that have made the Westside beach communities one of the most in-demand rental markets in Los Angeles and in the country," Kahan said.

G8 is situated close to the work and tech/entertainment hubs of Santa Monica, Culver City and Playa Vista, which count Facebook, Google, Amazon Studios and Snap among the pool of major employers. It is less than five blocks from Marina Del Rey, the beach, the coastal bike path, shopping, restaurants, art galleries and more. Venice Beach's trendy Abbot Kinney Boulevard and Santa Monica's Main Street are both minutes away.

G8, the length of a city block, with frontage along Beach Avenue between Glencoe and Del Rey Avenues, features a mix of single, one-, two- and three-bedroom units ranging in size from 550 to 1,500 square feet; 23 units are earmarked for affordable tenants. It also includes 68 co-living suites. The amenity-rich development features 18,000 square feet of exterior common areas, including a public pocket park, swimming pool, spas, and an 8,000-square-foot rooftop deck with outdoor grills and lounge seating. G8 contains more than 10,000 square feet of shared indoor workspaces, a private movie theater, game room, fitness center and a yoga / stretching studio. The development also includes street level creative office space, designed as a  colorful arrangement of cargo shipping containers that serves as the northern gateway to the Marina Arts District.

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"As a result of G8's terrific location, finish level, amenities, pocket park and street art, it is now more than 80 percent leased and is on target to be fully leased before the end of the year, said Kahan.

Nearly half of G8's new residents are from outside Southern California, including a large percentage from the East Coast.

About California Landmark

California Landmark Group (www.californialandmark.com) is a Los Angeles-based real estate operating company that has acquired, repositioned and developed more than $1 billion worth of luxury multifamily and Class A commercial real estate assets throughout California over the past three decades.

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Bruce Beck
DB&R Marketing Communications, Inc
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Source: California Landmark Group
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