Built in 1986, the two-story building encompasses 93,800 sf and includes two levels of subterranean parking. The property, which is located at 2710 Ocean Park Blvd., is 95% leased. The State of California is one of the major tenants in the facility.
"Santa Monica's office market has remained fairly firm, in spite of what's happening with the tech companies," says Robert S. Morey, who was involved with the transaction.
GE Capital provided financing on behalf of Build America LLC. Morey, of L.J. Melody's LA office, arranged the financing in this transaction.
L.J. Melody is one of the largest real estate banking firms in the U.S, with offices in 32 major metropolitan markets. The firm maintains an asset management portfolio totaling more than $17 billion. Over the past two years, Houston-based L.J. Melody has arranged $13 billion in commercial real estate transactions nationwide.
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