Three Adjacent Properties

Posted in: - Aug 05, 2013

These three adjacent Santa Monica properties overlooking the Pacific Ocean, 100 Wilshire Boulevard, 1221 Ocean Avenue, and 1299 Ocean Avenue, were developed and operated by The Welk Group, Inc. 100 Wilshire was built in 1971 and contains 245,000 square feet of Class A office space, 1221 Ocean was completed in 1971 and contains 120 luxury apartments, and 1299 Ocean was completed in 1981 and contains over 180,000 square feet of Class A office space.

All three properties were sold (or exchanged into other properties) after long holding periods and generated significant returns to The Welk Group, Inc. partly during Marc Luzzatto’s tenure as President of Welk.