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Gramercy Property sells Redondo Beach, Calif., building for $37M

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Gramercy Property sells Redondo Beach, Calif., building for $37M

Gramercy Property Trust sold the 124,400-square-foot Redondo Beach Business Court office building and separate daycare facility in California to Miramar Capital for $36.7 million.

The property at 3701 Doolittle Dr. had less than two years remaining on the lease term for its tenant Northrop Grumman, according to a release by Newmark Knight Frank, which handled the sale.