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Tishman Makes Big Office Buy

SANTA MONICA, CA—The investor buys 520 Broadway, an 113,000-square-foot trophy office asset in Downtown Santa Monica, for its A-plus location and proximity to public transit.

By Kelsi Maree Borland | Updated on April 10, 2015

SANTA MONICA, CA—Tishman Speyer has purchased a trophy office asset in Downtown Santa Monica for it’s A-plus location and proximity to public transportation. Located at 520 Broadway in the heart of Downtown Santa Monica, the 113,000-square-foot property was named Building of the Year in 2014. The purchase price and name of the seller were not disclosed.

“We have a global investment strategy to invest in top cities around the world and in top real estate within those cities. Los Angeles has been one of those cities for a while now for us, and within Los Angeles, we really try to focus on supply-constrained markets,” Mark Laderman, regional managing director at Tishman Speyer, tells GlobeSt.com. “Santa Monica is a terrific place to live and work and play, but it is extraordinarily difficult to build, and so to have to opportunity to buy a prestigious asset in a terrific location surrounded by amenities, shopping and restaurants, new hotels and the light rail station that is opening up later this year, we thought this was a special opportunity to invest in a truly unique location.”

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