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Olive Hill buying Santa Monica office building for $117M

The Real Deal LA Real Estate News:  The Downtown L.A.-based Olive Hill Group is in contract to buy a Santa Monica office building from Tishman Speyer for $117 million, The Real Deal has learned.

The sale of the 113,000-square-foot, six-story property, located near the Santa Monica Freeway and Third Street Promenade, is expected to close later this week for about $1,035 a foot, sources familiar with the deal said. Tishman Speyer bought it for $91.6 million in 2015 from Vornado Realty Trust, which had bought it out of foreclosure.  Read more >


Snapchat billionaire CEO offers to save Twilight Concert Series with $1 million donation

SM Daily Press:  Santa Monica’s most beloved and bemoaned public event survived another battle this week, as the City Council unanimously voted against police and staff recommendations to put the Twilight Concert Series on hiatus over safety concerns. Over the past three decades, the concerts have grown from a local event to promote The Pier to an iconic summer party that attracts thousands of regional tourists, traffic and trash.

The sponsor of the event, Snapchat, may have saved this year’s series when its billionaire CEO showed up at City Hall Tuesday night and offered $1 million of his own money to cover the costs of policing the series.  Read More >


Edmunds puts new spin on old digs for 50th anniversary

SM Daily Press:  Rotating above the reception area at the new, souped-up Edmunds headquarters in Santa Monica are two Chevrolet Corvette sports cars, one from 1966 and one recently purchased 2016 edition.

They’re the shining centerpieces of the car information and shopping network’s fully renovated, 143,000-square-foot offices at the Colorado Center, which opened last month as the company celebrates its 50th anniversary.

“We wanted to make a big statement when people enter the space that really recognizes the 50-year heritage that we have as a company,” CEO Avi Steinlauf said.

And it’s a heritage that is closely tied to Santa Monica.  Read more > > >


Ocean Avenue South Named Finalist in 2016 ULI Global Awards for Excellence

SANTA MONICA, Calif. — Ocean Avenue South, a residential mixed-use, mixed-income development, is a finalist in the 2016 Urban Land Institute (ULI) Global Awards for Excellence, widely recognized as one of the land use industry’s most prestigious award programs.

“It is a great honor to be considered for this global award, but it would not be possible without the City of Santa Monica's overall vision,” said Bill Witte, Chairman and CEO, Related California. “This model for public-private partnership helped transform Ocean Avenue into a world-class neighborhood with new housing, retail, and amenities."   Read more > > >


Q + A with Randy Starr: Silicon Beach + Its Future

BisNow:  Avison Young's Randy Starr has nearly 25 years of experience in real estate.Bisnow caught up with Randy to talk about his work, trends in Silicon Beach and why the area is booming. Randy is among the all-star panelists at Bisnow'sFuture of Silicon Beach event on March 22 aThe Gallery. To read full article > > >