Seritage Growth Properties and Invesco Real Estate kicked off construction on their planned transformation of a former Sears building in downtown Santa Monica, Calif., into a mixed-use center with office and retail space.
The Mark 302, as the 100,000-square-foot center will be called, is to include a multilevel workspace, a private rooftop deck, and indoor/outdoor space for working, collaborating and relaxing. Completion is scheduled for the fall of next year.
Explore new business opportunities at the Western Conference & Deal Making.
Register here“Construction has begun to convert an iconic building at the gateway to Santa Monica into a breathtaking office and retail destination,” said Benjamin Schall, President and CEO of Seritage Growth Properties, in a press release. “This innovative project will provide office tenants with an abundance of indoor and outdoor space, spectacular views of the Pacific Ocean and a vibrant mix of street-level restaurants and retail at the intersection of 4th Street and Colorado Avenue.”
The two companies purchased the property in March for an undisclosed price.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
