Olive Hill Purchases 112,987 SF Office Building in Santa Monica for $117M

SANTA MONICA, CALIF. — Olive Hill has purchased a 112,987-square-foot office building in downtown Santa Monica for $117 million. The Class A building is located at 520 Broadway.

The asset was built in 1981. It underwent a $13.2 million renovation in 2013. The space is now 82 percent occupied.

Eastdil Secured represented Olive Hill in this transaction, while Steven Edwards and Grace Winters of Manatt, Phelps & Phillips served as its legal guidance. The seller was not named.