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Tishman Buys Prime West Coast Property from Vornado

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Tishman Buys Prime West Coast Property from Vornado

New York's Tishman Speyer has bulked up its California portfolio with the purchase from Vornado of 520 Broadway in Santa Monica. The 113K SF office building in the sought-after Los Angeles neighborhood will soon welcome WeWork into its fold of tenants. The co-working platform will occupy two floors later this year, reports Bloomberg. Tishman reportedly spent $91M on the six-story property, which is 93% leased. Vornado acquired it in 2012 and quickly began a $7M improvement campaign. Tishman's other LA assets include the Wilshire Courtyard corporate compound and Murdock Plaza. [Bloomberg]

Related Topics: Tishman Speyer, WeWork, Vornado