The Swig Company Acquires First Santa Monica Property
San Francisco-based real estate operator The Swig Company has purchased 3130 Wilshire, a six-story, 96,000-square-foot creative office building in Santa Monica, CA. The acquisition further expands the firm’s Los Angeles-area presence where it already owns four office buildings totaling nearly one million square feet.
“We’re delighted to expand our footprint in Los Angeles through this purchase,” said The Swig Company Asset Manager, Mei Chou. “The building is in a great location with an amazing tenant base and our plan is to invest further capital in the property in order to make it a desirable workplace for our tenants.”
Planned upgrades include a seismic retrofit and modernization of building infrastructure systems as well as cosmetic improvements including on-site amenities. The property, which is currently LEED Silver certified, has five levels of attached, secured parking and is surrounded by numerous eateries and walkable amenities.
Newmark’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Kolcum represented the undisclosed seller in the transaction, while the firm’s Sean Fulp and Ryan Plummer assisted.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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