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Colliers completes all-cash sale of Santa Monica office for school campus

The Ocean Park Plaza building had about 73% of its space available, and the deal removes it from the area’s office inventory while returning the property to full utility.

Reported · Written up by our desk · Commercial

Colliers arranged the all-cash sale of Ocean Park Plaza, a two-story 100,700-square-foot office and medical building at 2701 Ocean Park Blvd. in Santa Monica, to an undisclosed co-educational school.

The buyer plans to relocate to the property and establish its new campus, repositioning the largely vacant building for active community use.

ConnectCRE reports the property had approximately 73% of its space available for immediate occupancy prior to the transaction, and the acquisition is expected to return the asset to full utility while taking it out of the local office market inventory.

Colliers’ vice chair Sean Fulp said the outcome is positive for Santa Monica, with the school receiving a campus in the Westside area and the neighborhood gaining an institution that adds activity and stability.

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