Rockwood Capital Acquires Historic Telephone Building in Santa Monica

SANTA MONICA, CALIF. — An affiliate of Rockwood Capital has purchased the Telephone Building, a historic property in downtown Santa Monica. DivcoWest sold the asset for an undisclosed price.

The seller acquired the 58,000-square-foot creative office and retail building in 2017. During its ownership, DivcoWest completed lease-up, implemented capital improvements and obtained historical landmark status for the building from the City of Santa Monica under the Mills Act. The historic landmark status ensures preservation of the Art Deco building.

Andrew Harper, Michael Leggett, Doug Bond and Matt McRoskey of JLL Capital Markets represented the seller in the deal.