Drawbridge Realty has recently acquired 2220 Colorado Ave, a headquarters building located in the Silicon Beach neighborhood of Santa Monica. The purchase price for this property was reported to be $185 million and it spans over 225,773 square feet. The entire building is currently leased on a triple-net basis to Universal Music Group (UMG), serving as their operational headquarters.
According to Jaden Rosselli, VP of investments & asset management at Drawbridge Realty, this is an exceptional property with a well-established tenant and unique design that sets it apart as one of the premier assets in Santa Monica. He also added that this acquisition will be a valuable addition to their national portfolio.
The seller for this transaction was Clarion Partners and they were represented by Newmark’s Kevin Shannon, Alex Foshay, Ken White, Rob Hannan Laura Stumm and Michael Moll. UMG has recently signed an extension on their lease agreement for the long-term use of the property.
Known as Arboretum Gateway or 2220 Colorado Ave., the building features two recording studios operated by UMG along with multiple conference facilities. It also offers secure parking with direct elevator access, an onsite food commissary and coffee bar , collaboration areas,and outdoor decks.
Overall,this highly sought-after office space provides top-of-the-line amenities making it ideal for businesses looking to establish themselves in Silicon Beach’s thriving tech scene.The recent sale further solidifies its status as one of Santa Monica’s most desirable properties.
