Palisades Capital Partners Buys Mixed-Use Property in Santa Monica for $33M

SANTA MONICA, CALIF. — Palisades Capital Partners has acquired a mixed-use property located at 631 Wilshire Blvd. in downtown Santa Monica for $33 million.

Originally built in 1958, the property has undergone $4 million in upgrades since 2013, including a remodeled lobby, outdoor common areas and locally focused murals. The 40,000-square-foot office and retail property features 11,000 square feet of retail space along Wilshire Boulevard.

Mike Long of CBRE and Kevin Shannon, Rob Hannan and Ken White of Newmark Grubb Knight Frank represented the sellers, PacShore Partners and GreenOak Real Estate LP, in the deal.