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November 20, 2019
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Santa Monica Office Asset Trades for Almost $1,000/sf


A 16.1k sf, three-story freestanding office compound in the heart of the Santa Monica media district sold for $16 mil, or $994/sf. The buyer was Ryobi Holdings.

Built in 1982, the property is located at 1545 26th St, between Santa Monica and Olympic Blvds. The asset underwent a comprehensive renovation in 2014 by the seller, Prototype Industries. The renovation included a complete and creative refresh within the building and new buildings systems, solar panels and fiber optics.

Located mid-block on 26th Street, the property has an abundance of rare collaborative patio areas wrapping both the second and third floors. 1545 26th Street is directly adjacent to The Colorado Center, 2600 and 2700 Colorado, The Pen Factory and the Santa Monica Water Garden. The property is also within two blocks from the 26th Street/Bergamont station for the new Expo Line, which connects the property from downtown Santa Monica to downtown Los Angeles.

Steven Salas, Daniel Chiprut, AJ Dorn and Britney Kagawa with Newmark Knight Frank represented the seller in the transaction.

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