Mariner's Mile Marine Center in Newport Beach Sells for $25 Million

A local private investor has purchased Mariner's Mile Marine Center for $25 million, according to a real estate brokerage firm.

Located at 2429-2507 West Coast Highway, Mariner's Mile Marine Center includes five New England style buildings that were renovated in 2000. Broker Mark Larson, of Lee & Associates Investment Services Group, said the property houses 29,458 square-feet of office space, 6,693 square-feet of shop space, 8,800 square-feet of shipyard and 1,982 linear feet of boat slips.

Larson said the buyer, a local private investor whose name was not released, purchased the property because of its 300 feet of frontage on Newport Bay.

Jayne Flinn, president of The Murrel Company, which had purchased the Marine Center 10 years ago, says the new owner has acquired a gem and called the property one of the premier locations on the West Coast.   

“Mariners Mile Marine Center is a world class property that captures the essence of Old Newport," Flinn said. "Its eclectic nature and charm sets the bar for other bayfront commercial real estate.”

Property tenants include Hornblower Cruises, Ocean Alexander Yachts and Bauer & Wiley.