{"id":1004383841,"date":"2020-01-20T07:29:04","date_gmt":"2020-01-20T15:29:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004383841"},"modified":"2020-01-20T07:29:04","modified_gmt":"2020-01-20T15:29:04","slug":"rockwood-capital-buys-historic-santa-monica-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rockwood-capital-buys-historic-santa-monica-building\/","title":{"rendered":"Rockwood Capital Buys Historic Santa Monica Building"},"content":{"rendered":"<div id=\"attachment_1004383892\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Telephone-Building-1.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004383892\" data-attachment-id=\"1004383892\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rockwood-capital-buys-historic-santa-monica-building\/telephone-building-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Telephone-Building-1.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Telephone Building 1\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Telephone Building&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Telephone-Building-1.jpg?w=640\" class=\"wp-image-1004383892 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Telephone-Building-1.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Telephone-Building-1.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Telephone-Building-1.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004383892\" class=\"wp-caption-text\">The Telephone Building<\/p><\/div>\n<p>DivcoWest has sold the Telephone Building, a 58,000-square-foot office asset in Santa Monica, Calif., to Rockwood Capital. JLL represented the seller in the transaction. According to Yardi Matrix, DivcoWest acquired the property for $52.5 million in 2017.<\/p>\n<p>Completed in 1946, the six-story building includes 8,000 square feet of retail space and has a rooftop terrace. Through its tenure as owner, DivcoWest leased up the property, invested in capital improvements and had the structure designated as a historic landmark by the city.<\/p>\n<p>Located at 1314 Seventh St. in downtown Santa Monica, the asset is within 1 mile of Interstate 10 and 8 miles from Los Angeles International Airport. The property is adjacent to a public library and the Santa Monica History Museum. The building is within half a mile of nearly 2.8 million square feet of office space, Yardi Matrix shows.<\/p>\n<p>Andrew Harper, Michael Leggett, Doug Bond and Matt McRoskey led the JLL team. Recently, Leggett participated in the disposition of <a href=\"https:\/\/www.commercialsearch.com\/news\/phoenixs-biltmore-center-sells-in-landmark-deal\/\">a 643,145-square-foot office landmark<\/a> in Phoenix. The asset was acquired for $212 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 58,000-square-foot office asset last changed hands in 2017 for more than $52 million.<\/p>\n","protected":false},"author":868,"featured_media":1004383892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21747,15],"tags":[36351,32841,32796,33235,32839],"class_list":["post-1004383841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-office","category-west","tag-capital-improvement","tag-divcowest","tag-jll","tag-michael-leggett","tag-rockwood-capital-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rockwood Capital Buys Historic Santa Monica Building - 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