1038 Princeton Buys Creative Office Campus
SANTA MONICA, CALIF. (October 21, 2013) – 1038 Princeton, LLC, an affiliate of Santa Monica-based The Luzzatto Company, Inc. has acquired the two-building, 33,200 square-foot creative office property at 1038-1042 Princeton Drive, Marina del Rey, Calif. The property is located west of Lincoln Blvd just two short blocks from the Marina, and is currently 30% leased to tenants Kennedy Marshall, Blowfish, and Mix StudioWorks. It is situated on approximately 46,381 square feet of land with gated, surface parking for more than 65 cars.
“We were attracted to this property because it represented a great opportunity to acquire a red-brick creative campus in the supply constrained West Side market at an attractive basis” said Ron Harari, Managing Director of The Luzzatto Company, Inc.. “We also believed there to be strong, intrinsic land value at the site due to its location within a densely populated residential corridor of the Marina.”
Ron Harari and Steve Elson directed the acquisition on behalf of The Luzzatto Company, Inc.