SANTA MONICA, CA-High demand on the West side continues, as two separate buildings have sold for $27 million apiece. Both were all-cash deals, according to the broker, Madison Partners.

In the first deal, Madison Partners moved a medical office building at 2825 Santa Monica Blvd. and Yale St. for $27.5 million, or $522 per square foot. A partnership between Lincoln Property Co., Centennial Real Estate Co. and Artemis Real Estate Partners were the buyers.

The building is close to Saint John's Health Center, Santa Monica UCLA Medical Center and Orthopaedic Hospital, among other medical outlets. The building was 95% leased at close of sale.

Bob Safai and Matt Case of Madison Partners represented the seller, Long Wharf Real Estate Partners.

The second transaction involved the sale of Playa Vista Plaza, located at 12555 Jefferson Blvd. in Playa Vista. The three-story office complex sold for $27 million and totals 89,365 square feet in two interconnected buildings.

It is currently 46% leased and is located near the massive Runway at Playa Vista construction site, a mixed-use property expected to be the commercial and social hub of the area upon completion.

Safai and Case represented the sellers, Lincoln Property Co. and ASB. The buyer was Ocean West Capital Partners.

As reported earlier by GlobeSt.com, Madison Partners sold two West side office buildings for a combined $34 million earlier this year.  

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