Santa Monica office sells for $1,136 per square foot

The buyer was an entity affiliated with Tooley Investment

TRD LOS ANGELES /
Aug.August 10, 2016 02:00 PM

An entity affiliated with developer Tooley Investment recently purchased an 8,800-square-foot office building in Santa Monica’s main commercial district for $10 million.

The seller was Main Street Law Building, which is connected to the law firm of Nasatir, Hirsch, Podberesky & Khero, The Real Deal has learned.

The seller had owned the property at 2113 Main Street for more than 30 years, according to listing agent Grant Newman of L.A. Realty Partners. He said the transaction was part of a 10-31 exchange.

The building was fully occupied at the time of the closing. The buyer, according to Newman, will use the space for its new corporate office.

The $10 million price tag equates to about $1,136 per square foot, 27 percent above Santa Monica’s $893 average for 2016, according to CoStar.


Related Articles

arrow_forward_ios
From left: Alan, Adam, and Alex Shekhter, with renderings of 501 Broadway and 601 Colorado (Credit: WS Communities and LinkedIn)

Shekhters’ WS Communities lands $157M loan to build 850 rental units in Santa Monica

1314 7th Street, Santa Monica and Divco West CEO Stuart Shiff

Rockwood Capital pays $66M for Santa Monica phone building

Adam Shekhter and the 1415 5th Street project

WS Communities boosts affordable housing plans in Santa Monica

The 5 priciest residential sales

Here are the 5 priciest resi sales in LA County last week

Clockwise from top left: 1155 Angelo Drive, 1116 Laurel Way, 613 N. Sierra Drive, 32453 Pacific Coast Highway and 705 N. Arden Drive (Credit: Redfin)

Beverly Hills dominates list of top resi sales in LA County last week

Lightstone’s Eugene Rozovsky, Neil Shekhter and a rendering of 1650 Lincoln Boulevard

Lightstone provides $44M loan to Shekhter-owned WS Communities

Pierce Brosnan and his new home in Santa Monica

“The world is not enough,” but for one former James Bond this Santa Monica pad is

Witkoff Group’s Steve Witkoff and a rendering of the project at 500 Broadway

Witkoff Group snags construction loan for Santa Monica luxury development

arrow_forward_ios
Loading...