Colorado Avenue Office Building Near Expo Light Rail Line Route Purchased
Posted May. 16, 2013, 9:14 am
An affiliate of Santa Monica-based The Luzzatto Company, Inc. -- 1301 Colorado, L.P.-- has acquired the 14,340 square-foot industrial office property located at 1301 Colorado Avenue, Santa Monica.
The property was constructed in 1974 and sits on a corner lot at the T-intersection of Euclid Street and Colorado Avenue, less than four blocks from the proposed Expo Station at 17th Street and Colorado Avenue.
It is situated on 15,000 square-feet of land with secure semi-subterranean parking for approximately 40 cars.
“We were attracted to this building because it is a well-located, transit-oriented property along the path of the Expo light rail,” said Marc Luzzatto, CEO of The Luzzatto Company. “We strongly believe in the power of mass transit to lessen our overall carbon footprint and reduce traffic.”
The price of the building was not disclosed.