Seritage, Invesco Start Former Santa Monica Sears Site Transformation
Seritage Growth Properties, along with its joint venture partner, Invesco Real Estate, commenced construction on the former Sears building in Santa Monica that will be transformed into The Mark 302, an iconic creative office and retail destination. The adaptive reuse project is slated to deliver in 2019.
Seritage’s Benjamin Schall says, “Construction has begun to convert an iconic building at the gateway to Santa Monica into a breathtaking office and retail destination.”
The Mark 302 will provide a unique multi-level workspace with natural light, a private rooftop deck and indoor/outdoor space for working, collaborating and relaxing. The roughly 110,000-square-foot redevelopment represents a rare workplace opportunity with high exposure in downtown Santa Monica. The property is accessed from the 10 Freeway, and located directly adjacent to the terminus of the L.A. Metro Expo Line that runs from Downtown Los Angeles.
LA Realty Partners’ Rick Buckley and George Gleason are handling the office leasing.
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