US 528 Arizona Owner, LLC Acquires Medical Office Building In Santa Monica For $5M

Avison Young has completed the sale of a medical office building in downtown Santa Monica for just under $5 million. The property, located at 520 Arizona Avenue, was acquired by US 528 Arizona Owner, LLC. The building spans 3,049 square feet and was sold at a price of $1,640 per square foot.

Summary of transaction details

• Property Type: Medical Office
• Transaction Amount: $5,000,000
• Address: 520 Arizona Avenue
• Market: Santa Monica

The seller of the property was 520 Arizona Ave. LLC. The transaction was facilitated by Mitch Stokes of Avison Young, who represented the buyer, US 528 Arizona Owner, LLC. The sale of the medical office building is part of a land assemblage for a future mixed-use development in downtown Santa Monica.