The second-tallest building in ground-hugging Santa Monica, the70,000 sf complex features a clock tower with four clocks thatstopped at 4:31 a.m. on Jan.17, 1994 when the Northridge earthquakedevastated the LA area.
Brokers E. Michael DeSantis, Ryan Smith and Eric Olofson of theWest LA office of Cushman Realty Corp. represented both the WestLA-based buyer and the LA-based seller, Amcal Partners, in theall-cash deal. The complex consists of a 12-story, 55,000-sf officebuilding and a 15,000-sf retail space housing the Trastevererestaurant fronting the Third Street Promenade.
Sagamore Equities president Kevin Green said his firm will spendabout $5 million renovating the building, opening up its chopped-up4,000-sf floorplates to accommodate larger users. The renovation isexpected to be completed late next year, he says..
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