City of Redondo Beach
Acquisition of International Boardwalk as part of Revitalization Plan
Kosmont served as the City’s broker for the acquisition of International Boardwalk as part of Revitalization Plan of Pier and Waterfront area. Acquisition is core to City’s economic development strategy of aggregating leaseholds to lead to broad revitalization on the waterfront.
Redondo Beach’s aging waterfront increasingly struggles to compete with neighboring South Bay cities to the north. City explored ways to revitalize the pier, boardwalk and surrounding properties.
Kosmont Realty represented the City in purchasing International Boardwalk from the private owner. Kosmont structured and closed Lease-leaseback 104% financing of $2.7 Million.