Lee & Associates Completes Creative Office Sale in Santa Monica
Torrance, CA – November 5, 2012 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the sale of 820 Broadway, a creative office building located in the heart of Santa Monica, Calif. for an undisclosed amount.
Andrew Wilson of Lee’s West LA office represented the buyer, Archway Properties, and the seller, Broadway at 9th LLC.
“The building is one of Santa Monica’s best designed creative properties, meeting the needs of entertainment and technology companies alike,” said Wilson. “With its exceptional design and location and triple-net income, 820 Broadway is a perfect asset for Archway Properties, who plans to hold it as an investment.”
The 19,000-square-foot office building was built in 2004 and is currently 100 percent leased, with tenants including Coda, a new car company working to develop and distribute electronic cars; Icon Mobile, a leading international design agency and technology supplier in the mobile industry; and Cross Campus, a multi functional workspace for all types of clients, including entrepreneurs, freelancers as well as startups. Designed by renowned architect David Hibbert, the space was previously occupied by Google.
This is Andrew Wilson’s third significant creative sale this year. He recently sold 604 Arizona in Santa Monica, a 45,000-square-foot building previously occupied by Google and 8500 Steller in Culver City, a 30,000-square-foot fully renovated bow truss industrial building. Lee’s West Los Angeles office has also recently completed a variety of major creative office deals on the Westside, including the $3.9 million sale of 1660 Stanford Street and the $6.3 million sale of 1617 Broadway.
About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at http://www.lee-associates.com.
