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2041-2115 Colorado Ave.
2041-2115 Colorado Ave., Santa Monica, CA 90404
60,000 SF | Industrial
Industrial Property - Off Market
- Building Size:
- 60,000 SF
- Property Type:
- Property Sub-type:
- Flex Space
- Property Use Type:
- Commission Split:
- Cap Rate:
- Lot Size:
- 90,000 SF
- Listing ID
- Last Updated
- over 1 year ago
The property is located in the heart of the Santa Monica media district, see location description. 90,000 sf ( 300' X 300' ) of Santa Monica LMSD zoned land improved with four industrial buildings totaling approx. 60,000 sf. The buildings have high bow truss, wide span ceilings, industrial windows all around, are improved as creative space and leased to mutiple tenants. Tenants, except for a 16,000 sf month to month, are all media and creative companies and include credit tenants. Due to the convergence of media/internet co's at this location the leasing market is extremly strong. There are multiple offers for any space that becomes available. Leases are NNN or modified gross with expense increase pass throughs. Very low management. UPSIDE: 1. release the low rent M/M & other spaces to achieve the listed CAP/NOI.
2. The LMSD zoning provides for building 135,000 sf of live/work space (180 lofts). Please verify with the City of Santa Monica.
The property is in the heart of Santa Monica media district: The HQ of Vivendi Universal and Sony BMG, the two largest music companies in the world, are across the street. Half a block from Yahoo Center, one block from MTV, Playboy Studio is behind the properrty.
FWY 10 ramps are two blocks away. Close to the Ocean.
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P