NEWPORT BEACH : Shopping Complex, 85 Boat Slips Up for Sale

The Lido Marina Village shopping and restaurant complex on Balboa Peninsula is for sale.

The package includes a parking structure and 85 boat slips. Businesses there include restaurants, art galleries, marine charter offices, clothing shops and the Thunderbird night club.

Marvin Engineering Co., a 500-employee defense component manufacturer in Inglewood, bought the property in May, 1993.

“We want to concentrate on our core business, and we’re not being able to,” Executive Vice President Jerry Friedman said this week. “We’re spread out, so we decided to sell off our real estate.”

Newport Beach City Planner Patricia Temple said the wedge-shaped property has won several design awards.

“It’s a large property, which is unusual on the waterfront. Most of them tend to be more fragmented,” she said.

Although the complex at 3400 Via Oporto is at the gateway to the Balboa Peninsula and visible from Newport Boulevard, access is complicated, Temple said.

“The property’s main problem is, people see it and wonder, ‘How do I get there from here?’ ” she said. “It’s kind of hard to find your way around Lido Village unless you already know what’s there.”

The Coastal Commission and other regulatory requirements limit the ways the property can be used, Temple said.