trending Market Intelligence /marketintelligence/en/news-insights/trending/mGDNObRJdLGRf_h8IOlrYQ2 content esgSubNav
In This List

Santa Monica, Calif., office asset to sell for $117M

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Blog

Using Credit Analytics to Avoid Mispricing Insurance Premiums

Blog

Post-Webinar Q&A: Integrating Climate Risks into Credit Risk Portfolios


Santa Monica, Calif., office asset to sell for $117M

Olive Hill Group LLC is buying an office building in Santa Monica, Calif., for $117 million, or around $1,035 per foot, from Tishman Speyer, The Real Deal reported.

Tishman Speyer acquired the 113,000-square-foot, six-story 520 Broadway asset from Vornado Realty Trust in 2015 for $91.6 million, the Dec. 19 report added.

The building is 82% leased to tenants including WeWork, Flywheel Sports and Boston Private Bank. It presents "a rare acquisition opportunity" in the city, where there are strict limits on development, the report noted, citing Michael Cho, president of Olive Hill Group.

The sale is poised to close later in the week.