Redcar Properties Acquires Office Building In Santa Monica For $18M

Located at 1448 15th St. in Santa Monica, this office property was recently sold in a transaction facilitated by the brokers Jeff Pion, Michelle Esquivel-Hall, and Drew Pion of CBRE. The property, spanning 24,000 square feet, was acquired by Redcar Properties from DPI Retail - Fred Vitt for a total price of $18,000,000. With a price per square foot of $750, this asset offers a valuable investment opportunity in the Santa Monica market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $18,000,000
• Address: 1448 15th St.
• Market: Santa Monica
• Buyer: Redcar Properties
• Seller: DPI Retail - Fred Vitt
• Brokers: Jeff Pion, Michelle Esquivel-Hall, & Drew Pion - CBRE
• Square Footage: 24,000
• Price Per Square Foot: $750

Jeff Pion, Michelle Esquivel-Hall, and Drew Pion from CBRE played instrumental roles as brokers representing both the buyer, Redcar Properties, and the seller, DPI Retail - Fred Vitt, in this office property transaction. Their expertise and negotiation skills contributed to the successful completion of the deal, ensuring a smooth process for all parties involved.