Madison Partners Arranges $18.7M Sale of Retail, Creative Office Property in Santa Monica

SANTA MONICA, CALIF. — Madison Partners has arranged the sale of 1334 Third Street Promenade, a retail and creative office building in Santa Monica. Third Street Limited sold the asset to Vista Investment Group for $18.7 million, or $847 per square foot.

At the time of sale, the 22,131-square-foot property was 64 percent occupied. Tenants include Sunglass Hut, SuperDry and Mobile Deluxe.

Bob Safai, Matt Case, Brad Schlaak and Randy Starr of Madison Partners represented the seller in the transaction.