Monday, March 6, 2017

HFF closes $52.5 million sale of the Telephone Building in Santa Monica, CA

Telephone Building, Downtown Santa Monica, CA

Doug Bond
LOS ANGELES, CA,  March 6, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $52.5 million sale of a 58,538-square-foot condominium interest in the Telephone Building, a premier six-story creative office building in Santa Monica, California.

The remaining 33,254-square-foot condominium interest houses a telephone switching hub owned by Frontier Communications, and was not included in the sale.

HFF marketed the property on behalf of the seller, a joint venture between Alcion Ventures and Pacshore Partners.  DivcoWest was the purchaser.

Located in the heart of Downtown Santa Monica, the 91,972-square-foot Telephone Building is an iconic 1930’s-era, creative office building that is 86 percent leased to a strong line-up of quality tenants.

 Ideally located in the heart of downtown Santa Monica, the historic Telephone Building boasts roof-top ocean views; spacious open floor plates; and award-winning, ground-floor dining amenities, including Cassia, which was named Restaurant of the Year by LA Weekly Magazine and one of the top 12 new restaurants in America by GQ Magazine and Esters Wine Shop & Bar.

Andrew Harper
The HFF investment sales team representing the seller was led by senior managing director Doug Bond and managing director Andrew Harper.

“There is significant demand in the marketplace for authentic creative office assets,” Bond said. “HFF is pleased to have been able to represent Alcion and Pacshore, who had the vision and expertise to breathe new life into this historic building in one of the most supply-constrained markets in Southern California.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |


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