Description

ASSUMABLE FINANCING AVAILABLE

Colliers presents Ocean Park Plaza, a two-story, 100,700-square-foot office/medical building located in the highly desirable Ocean Park neighborhood of Santa Monica. With approximately $8 million invested into the Property since 2017, Ocean Park Plaza offers an owner/user the unique opportunity to acquire a state-of-the-art, secure office project adjacent to the Santa Monica Business Park in the heart of Silicon Beach.

The property is ideally situated for both traditional and medical office users as the project features ample outdoor space, 11-foot ceiling heights, operable windows, direct freeway access, convenient covered parking, natural light, security, and walkable amenities.

With 73,557 square feet (73% of project) available for immediate occupancy, an owner/user could acquire the project, occupy all (or a portion of) the available space, and benefit from the income of the existing tenant roster. Given the strong market fundamentals and medical office optionality, an investor could also implement a value-add lease-up strategy with a large reduction in the amount of capital required due to the existing quality of the vacant suites and the recent renovation that took place.

Deal Team