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8/03/22
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Redcar Properties has purchased the Meridian Building, a 24.1k sf, creative office building in Santa Monica, for $17.9 mil ($743/sf). Located at 1448 15th St, the three-story building was originally constructed in 1981.
The property features 78 parking spaces. The site is one half-mile from the I-10 Fwy and 1.5 miles from Santa Monica State Beach.
CBRE’s Jeff Pion, Michelle Esquivel-Hall and Drew Pion represented the seller, Los Angeles-based real estate investment firm DPI Retail. DPI had owned operated their firm out of the building for over two decades. The buyer was repped by Industry Partners.
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