Santa Monica Market Still Feeling Heat From Tech
March 26, 2012
By: Jacquelyn Ryan

Two office sales this month indicate Santa Monica’s real estate market, a hot spot for tech companies, isn’t cooling off.

West L.A. real estate management and development company Korda Group bought a 37,000-square-foot building for $12 million from Sandstone Properties Inc., a Westwood private-equity group that focuses on real estate. ...

... It sold for $323 a square foot, the second highest rate among comparable buildings on the Westside within the last 12 months, according to CoStar Group Inc. ...

... Studley Inc. broker John Bertram represented Sandstone.

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