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8/10/17
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ICO Group has acquired 10780 Santa Monica Boulevard, a Class A office property in West Los Angeles. The four-story, 95k sf building, located at 10780 Santa Monica Blvd, is immediately adjacent to Century City, one of the most expensive office markets in Southern California. The price was not disclosed.
Constructed in 1984, the building features an irreplaceable location adjacent to many nearby Century City amenities, efficient floor plates for a variety of tenants, and an outstanding physical program for creative office build‐out. The building, which was 94.8% leased at the time of sale, has had a strong occupancy history and benefits greatly from its location within the unparalleled West Los Angeles commercial zone, as well as its proximity to the affluent Westside residential neighborhoods.
The property was sold by Zurich Alternative Asset Management, a wholly owned subsidiary of Zurich Insurance Group. They were repped in the deal by Bob Safai, Matt Case, and Brad Schlaak with Madison Partners. This transaction marks the fourth time that Madison Partners has brokered the sale of 10780 Santa Monica Boulevard. Additionally, Joe King of Madison Partners, who has represented the property for over ten years, has been retained by the new ownership to continue leasing at the property.
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