This Industrial Property is Off-Market.

2041-2115 Colorado Ave.
Santa Monica, CA 90404 ·

60,000 SF · Industrial For Sale

N/A

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2041-2115 Colorado Ave.

Price N/A Commission Split 3%
Building Size 60,000 SF Cap Rate 5.50%
Property Type Industrial Occupancy 100%
Property Sub-type Flex Space Tenancy Multiple
Property Use Type Investment Lot Size 90,000 SF
Listing ID: 15286954 Date Created: 08/14/2007 Last Updated: 07/27/2008

Description

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.

Research

2041-2115 Colorado Ave., Santa Monica, CA 90404 (Los Angeles County)

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