Rockwood Capital Acquires Santa Monica Office Building For $58M From Sorgente Group Of America

The Clocktower Building located at 225 Santa Monica Blvd in Santa Monica has been sold in a transaction worth $58 million. The property, which is an office space, spans across 53,500 square feet, resulting in a price per square foot of $1,054. The sale took place on March 19, 2019, with Rockwood Capital acquiring the property from Sorgente Group of America.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $58 million
• Square Footage: 53,500
• Price per Square Foot: $1,054
• Buyer: Rockwood Capital
• Seller: Sorgente Group of America

Rockwood Capital, a prominent investment firm, acted as the buyer in this deal, while Sorgente Group of America served as the seller. The Clocktower Building's sale represents a significant transaction in the Santa Monica market, further establishing the attractiveness of the area for commercial real estate investments.