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SteelWave Acquires Office Building In Los Angeles For $80M

500 & 540 South Santa Fe Avenue
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This Office property located in CA was sold for $80,000,000 almost 3 years ago. The brokers of the deal were Bailey Dawson, Steven (Steve) Marcussen, and Mike Condon Jr.

The office property located at 500 & 540 South Santa Fe Avenue in Los Angeles has been sold in a transaction that took place on May 20, 2021. The property, spanning a total area of 150,451 square feet, was acquired by SteelWave, represented by Barry DiRaimondo, from CEG Construction, represented by Trace Chalmers. The sale price for this transaction was $80,000,000, resulting in a price per square foot of $531.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $80,000,000
  • Address: 500 & 540 South Santa Fe Avenue, Los Angeles
  • Buyer: SteelWave - Barry DiRaimondo
  • Seller: CEG Construction - Trace Chalmers
  • Brokers: Mike Condon Jr., Steve Marcussen, Erica Finck & Bailey Dawson - Cushman & Wakefield

The deal was facilitated by brokers Mike Condon Jr., Steve Marcussen, Erica Finck, and Bailey Dawson from Cushman & Wakefield. Their expertise played a crucial role in the successful completion of this transaction.

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Deals
  • Location
    500 South Santa Fe Avenue, Los Angeles, CA, USA500 South Santa Fe Avenue, Los Angeles, CA, USA
  • Sale Price
    $80,000,000$80,000,000
    $531 PPSF$531 PPSF
  • Area
    150,451 SF150,451 SF
  • Asset Type
    OfficeOffice
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Steven (Steve) Marcussen

Steven (Steve) Marcussen

Deals1
Sold$80M

Agency

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4190
Volume$167B

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Deal Summary

SALE IMAGE: Mike Condon Jr., Barry DiRaimondo, Bailey Dawson, Trace Chalmers & Steve Marcussen DATE: 05/20/2021 ADDRESS: 500 & 540 South Santa Fe Avenue MARKET: Los Angeles ASSET TYPE: Office BUYER: SteelWave - Barry DiRaimondo SELLER: CEG Construction - Trace Chalmers BROKERS: Mike Condon Jr., Steve Marcussen, Erica Finck & Bailey Dawson - Cushman & Wakefield SALE PRICE: $80,000,000 SF: 150,451 ~ PPSF: $531

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500 & 540 South Santa Fe Avenue

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