JOSS Realty Pays $1k/SF for Santa Monica Creative Office
The NY firm has purchased Lincoln Center West, a 23,557 SF at 1315 Lincoln in the heart of Santa Monica. JOSS purchased the property from a JV of Lincoln Property Co, Linwood Ventures and ASB Real Estate Investments. The $1,004/SF buy ($23.65M) represents a 5% cap for the fully leased two-story office. Built in 2005, the property is two blocks from Third Street Promenade and features 22-foot-high ceilings and creative office space. Bob Safai, Matt Case and Brad Schlaak of Madison Partners repped the sellers.