Beach Point Capital Renews and Expands at the Water Garden in Santa Monica
Savills Studley represents financial services firm in 25,000-square-foot office lease
Los Angeles, CA (June 28, 2016)
Beach Point Capital Management has renewed and expanded its presence at the Water Garden, located at 1620 26th Street in Santa Monica. The firm is growing from 20,000 to 25,000 square feet and will occupy the entire top floor of the six-story office building. Previously, Beach Point’s operations were split between the project’s second and sixth floors. The firm signed a 10-year lease and obtained monument signage rights as part of the newly negotiated terms.
Andy Lustgarten, Corporate Managing Director, and Mark Sullivan, Executive Vice President, Director and Regional Manager, of Savills Studley represented the tenant in the transaction. “This location worked well for Beach Point employees and clients and we took advantage of an opportunity to consolidate the entire company on one floor, improving space efficiency and supporting corporate cohesiveness,” said Sullivan.
JP Morgan, owner of the Water Garden, was represented in the transaction by Amanda Calof of CBRE.
The Water Garden is a Class A, six-building, 1.3 million-square-foot trophy office complex situated on 17 acres in Santa Monica. The acclaimed architectural firm of McLarand, Vasquez & Partners Inc. designed the project.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
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