Santa Monica Medical Plaza
Background
Santa Monica Medical Plaza is a 92,228 square foot, 14-story medical office building located in Santa Monica, California. The building was constructed in 1971 and has approximately 47 tenants. In 1996, Morlin Asset Management was hired to provide property management, construction management, and leasing for the property. During this time, Morlin has managed the building under two different owners.
When our team commenced management in 1996, the building was dated and had significant deferred maintenance. Common area maintenance expenses to be billed to tenants as specified in their leases were never billed. Since 1996, the building has had common area improvements performed on two separate occasions, undergone a seismic retrofit, and increased its square footage from approximately 80,000 square feet to 92,000 square feet. Today, the building is 90 percent occupied with rents at the top of the Santa Monica market.
Building Name
Santa Monica Medical Plaza
Location
1260 15th Street, Santa Monica, CA 90404
Square Footage
92,228
Building Type
Medical Office Building
