Santa Monica medical office building acquired as part of adjacent mixed-use development
A Santa Monica, California, medical office building has sold for about $5 million as part of a mixed-use project to be developed next door. The 3,0...
May 16, 2023
1:22 AM
A Santa Monica, California, medical office building has sold for about $5 million as part of a mixed-use project to be developed next door. The 3,000-square-foot standalone office building, located at 520 Arizona Ave. in downtown Santa Monica, was sold by 520 Arizona Ave. LLC to US 528 Arizona Owner LLC. Avison Young Principal Mitch Stokes, the sole broker in the transaction, said the buyer also owns the site at 528 Arizona Ave., where Cypress Equity Investments is planning to build a six-story building.
Isabel Sami