STUDLEY REPRESENTS SELLER OF BOUTIQUE SANTA MONICA OFFICE BUILDING
Los Angeles, CA (March 27, 2012)
Los Angeles, CA (March 27, 2012) - Studley, along with Madison Partners, is pleased to announce the sale of 2121 Cloverfield Boulevard in Santa Monica, California for $12 million. The two-story, 37,188-square-foot boutique office building was 71.6 percent leased at the time of sale. The seller was Sandstone Properties, Inc.
The property sits on approximately 90,000 square feet of land and was built in 1981. The asset features a large, garden-style atrium, numerous balconies, and medium to large office suites, several with vaulted ceilings and skylights.
John Bertram, executive managing director of Studley, represented the seller in the transaction. Bob Safai and Matt Case of Madison Partners represented the buyer, The Korda Group.
Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with 22 offices nationwide and an international presence through its London office and AOS Studley, a partnership with Paris-based AOS, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. Information about Studley is available at www.studley.com.