NGKF Capital Markets represented the Theila L. Smith and Thelma B. Houston Trust in the $6.3 million sale of 3450 Via Oporto, an 11,750-square-foot waterfront property on Newport Bay in Newport Beach, Calif. The ground lease for this exceptional property-previously home to the once iconic Warehouse Restaurant-was acquired by Lido Group Retail, LLC, an operating entity of DJM Capital Partners, Inc., a leading provider of value-added private equity investment, development and asset management services within the real estate sector.
This site has in excess of 100 feet of bay frontage on Newport Bay, with several boat slips, according to Robert Griffith, an executive managing director with NGKF Capital Markets.
“This property is one of the most iconic bayfront commercial locations in Newport Beach and is one of only three bayfront commercial properties to sell in Newport Bay over the past two years,” said Mr. Griffith.
DJM Capital Partners, Inc. represented itself in the transaction.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.