News
Los Angeles Office

Oracle Pays $368M For Santa Monica Office Building

2700 Colorado Ave, Santa Monica, CA
Photo credit: Google Maps

Oracle Corp just bought an office building at 2600 and 2700 Colorado Ave for $368M, or about $1,165/SF.

The sellers were Atlanta's Invesco and Santa Monica's Worthe Real Estate Group.

The 316k SF property was valued last year at $284M, or $899/SF, when Invesco made its investment in the office complex.

The new owner is listed in public records as LLC Office Block Investment on behalf of an Oracle subsidiary, Oracle America Inc, the LA Business Journal reports.

Redwood City's Oracle will lease space at 2600 Colorado Ave, which is currently occupied by Viacom Inc.

That company plans to relocate to Hollywood next year.

Lions Gate Entertainment Corp plans to stay where it is at 2700 Colorado Ave. [LABJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Los Angeles Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Developers Riding The Surf Park Wave With Resorts, Retail And Residences

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

Immigration Crackdowns Dealt LA Businesses A Multimillion‑Dollar Blow