Jones Lang LaSalle Completes 11,334-SF Office Lease with Del, Shaw, Moonves, Tanaka, Finkelstein & Lezcano in Santa Monica, CA

 SANTA MONICA, CA, Nov. 21, 2011 — Jones Lang LaSalle represented Del, Shaw, Moonves, Tanaka, Finkelstein & Lezcano in a 11,334-square-foot headquarters lease renewal at Arboretum Courtyard (top left photo), a one-building, 85,401-square-foot, Class A office building located at 2120 Colorado Avenue in Santa Monica, Calif.

Jones Lang LaSalle’s Los Angeles team of Managing Directors John Ghiselli, Anthony Gatti and Associate Blake Searles represented Del, Shaw, Moonves, Tanaka, Finkelstein & Lezcano in the transaction.  The property owner, Blackstone / Equity Office Properties, was represented by Scott Rigsby of Industry Partners.

“While rents continue to strengthen in Santa Monica, Jones Lang LaSalle was able to secure very favorable lease terms for Del, Shaw, Moonves, Tanaka, Finkelstein & Lezcano,” said Ghiselli. 

For further information, please visit our website, http://www.joneslanglasalle.com/.

Contact:

David Ebeling

Ebeling Communications

(p) 949.861.8351

(c) 949.278.7851

david@ebelingcomm.com

Charles Dunn Co. Completes Sale of 50-Unit Trophy Multifamily Property in Santa Monica, CA

LOS ANGELES, CA, Nov. 15, 2011 – Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed the sale of a 50-unit multifamily property located at 123 California Ave. (top left photo) in Santa Monica.

 Kimberly Roberts Stepp (lower  right photo) of Charles Dunn Company who is out of the firm’s West Los Angeles office procured the seller, Petrikas Family Limited Partnership from Riverside, Calif. Hamid Soroudi, also from Charles Dunn Company’s West Los Angeles office represented the buyer, Xenon Investments from Los Angeles, Calif.  The property closed at just above a 4 percent cap rate.

“The property was sold at 100 percent of the asking price,” said Roberts Stepp. “Under very unfortunate circumstances, the seller was in an airplane accident and passed away during escrow.  I worked with the heirs to complete the sale and secured a 1031 exchange for them at a higher cap rate with the acquisition of a NNN single tenant retail property.”

Built in 1959, the multifamily property is located in Santa Monica on California Ave. near Ocean Ave.  The property has controlled access, courtyard, subterranean parking, and a pool.

Contact: Darcie Giacchetto, D.G. Communications, Inc., 949.278.6224

www.charlesdunn.com