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California  + Los Angeles  + Office  | 

Olive Hill Adding Santa Monica Asset for $117M

Los Angeles-based Olive Hill Group, LLC is acquiring 520 Broadway, a 112,987-square-foot office building in Santa Monica, from Tishman Speyer for $117 million. Constructed in 1981, the property underwent $13.2 million in renovations in 2013. At the time of acquisition, the asset was 82% occupied.

The property is located within walking distance of the recently-opened Santa Monica Light Rail Station, retail developments such as Third Street Promenade and Santa Monica Place, and nearly 350 new luxury multifamily units. Amenities include a four-story subterranean parking structure, 24-hour manned security and a newly-renovated exterior plaza.

Olive Hill Group’s Michael Cho says, “This is a unique investment opportunity in a very supply constrained region of Silicon Beach. 520 Broadway is the only building of this size in the Downtown area not held by long-term ownership.”

Eastdil Secured represented the buyer.

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: Tishman Speyer
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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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