Kilroy Realty sold a Santa Monica office building for $40 million, the company reported in its latest earnings release Monday. The June buyer is Washington Capital Management, property records indicate. The real estate investment trust purchased the seven-story, 73,000-square-foot property at 501 Santa Monica Boulevard for more than $16 million in 1998, the Los Angeles Times reported at the time. The offices are only a couple blocks from the Third Street Promenade. While West Los Angeles’ office market is faring better than Downtown Los Angeles’ in terms of vacancies, Kilroy’s Santa Monica office was only 65 percent occupied, according to […]
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