LOS ANGELES– Avison Young, the world’s fastest-growing commercial real estate services firm,announced today that it has completed a 45-month office lease with Science, Inc., a technology incubator and investor. Science, Inc. will occupy 16,220 square feet (sf) at 1447 2nd Street. in Santa Monica, CA.
Avison Young PrincipalRandy Starr and Tim Dornan, a Vice-President in the company’s Santa Monica office, represented Science, Inc. in the transaction. The landlord,Beitler Commercial Realty Services, represented itself.
Built in 2000, the four-story property totals 24,578 sf and offers exposed ceilings, polished concrete floors, private balconies and ocean views. With the Science lease, the property is now fully occupied. The space was previously occupied by Hydraulx.
Science, Inc. is relocating and expanding from its 10,000-sf office space just steps away at 1410 2nd Street.
“Science, Inc. wanted to stay in downtown Santa Monica because it is where the company’s talent wants to work,” comments Starr. “We were able to successfully negotiate a below-market rental rate in a highly competitive market.”
The building is well-located in the heart of Santa Monica and is within walking distance to the Third Street Promenade, Santa Monica Place and Ocean Avenue. The property also provides easy access to Santa Monica 10 Freeway and neighboring communities of Pacific Palisades, Venice and Malibu.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,500 real estate professionals in 53 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.