NAI Capital Negotiates $15.5M Purchase of Creative Office Mixed-Use Building in Santa Monica, CA
Santa Monica, CA, Tuesday, April 04, 2017– Senior Vice President Ted Zwicker with NAI Capital represented the buyer DR Investments LLC on their purchase of Piazza Montana a 9,799 square foot creative office mixed-use building in Santa Monica, Calif. The sale price was $15.5M or $1,582 per square foot.
Piazza Montana is located on the corner of Montana and Lincoln at 729 Montana Avenue. Completed in 2001, it is an elegant Italian-inspired architectural two-story mixed use property with a courtyard and fountain. Piazza Montana features creative office space, ground level retail, and two top floor luxury apartments. The property is approximately 7 blocks to Ocean Avenue and Third Street Promenade, on exclusive Montana Avenue with upscale shops, restaurants and movie theaters. The building was 100% leased at the time of the sale.
Zwicker said, “This is an excellent property in an outstanding location. Although it is currently 100% leased, my client intends to occupy the building as their headquarters in the future.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 375 offices and 6,700 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #00806840.
To learn more, visit www.naicapital.com
About NAI Global
Founded in 1978, NAI Global is a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,700 professionals located throughout North America, Latin America, Europe and Asia Pacific. The firm manages over 380 million square feet of property on behalf of its clients, globally. The NAI Global Capital Markets Group serves the largest institutional owners of and investors in commercial real estate.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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