A freshly converted Santa Monica office space is now on the market for up to $60 million.
Pacshore Partners, a Los Angeles-based real estate investment firm run by Philip Orosco, is selling a 60,000-square-foot office condominium at the Telephone Building at 1314 Seventh Street. HFF has the listing, REAlert reported.
The developer converted the building, which formerly housed Verizon switchboard operations, into creative offices just a few years ago.
Built in the 1930s, it’s now 86 percent occupied by tenants such as advertising company GumGum and venture capital firm Upfront Ventures. The retail tenants include French-Asian restaurant Cassia and Esters Wine Shop and Bar.
Pacshore purchased the portion of the six-story building for about $20 million in 2013 in partnership with the Boston-based Alcion Ventures, . [REAlert] — Cathaleen Chen