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| DONE DEAL: 82,000-sf industrial warehouse and office property leased to an electric vehicle company on a 121,200-SF lot in Los Angeles County submarket of Santa Monica, CA |
The total consideration of the lease is approximately $12 million, according to Michael Collins, Vice Chairman at DAUM Commercial, who represented the lessor alongside DAUM Executive Vice President David Freitag.
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| Michael Collins |
“Our Client, a private owner with whom DAUM has a long-standing relationship, had a rare commercial property available for lease in the tight Santa Monica submarket,” explains Collins.
“The
building is situated on a corner adjacent to heavily trafficked Interstate 10.
By strategically marketing the property and leveraging its prime location, we
were able to attract significant interest and several offers, ultimately
securing a long-term lease to a top automotive business.”
Collins notes that the lessor also owns a neighboring 50,000 square-foot property, which is currently fully leased to Mercedes-Benz, driving up the appeal of the newly leased asset and presenting future expansion opportunities. Additional high-profile neighbors include Lexus, Amazon, HBO, and Universal Music.
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| David Freitag |
Freitag adds: “This lease transaction was a true win-win for both parties. The lessee will be situated in a highly visible location near several prominent creative, entertainment, distribution, and service companies, as well as retail amenities, while our Client benefits from a quality, established tenant.”
The property, which is also in close proximity to the
Santa Monica Airport, Los Angeles International Airport, and 17th Street/SMC
light rail station, features 18’ clear height, 2,000 amps of power, warehouse
restrooms, and a wrought-iron fenced yard.
The asset is located at 1100 Colorado Avenue in Santa Monica, California.
CONTACTS:
Katie Haga / Elisabeth Manville
Brower Group
(949) 438-6262
khaga@brower-group.com
http://www.raamconstruction.com/
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