National Medical Enterprises Inc. has purchased 3.2 acres of land and an existing office building at 2600 Colorado Ave., Santa Monica, and will build a $37-million, 200,000-square-foot corporate headquarters on the site.
The new facility, designed by the Landau Partnership Inc., Santa Monica, will be built by Stolte Inc., a subsidiary of NME. The firm has nearly 700 employees in West Los Angeles and Santa Monica.
"Ground will be broken this fall on the new corporate headquarters, with completion scheduled for the summer of 1989," according to Richard K. Eamer, chairman and chief executive officer. He added that the new complex will enable the firm to consolidate all employees in one location.
Charles Dunn Co. represented both the buyer and the seller, Campeau/Sedgwick Properties, in the $25.9-million transaction. J.J. Barnicke Ltd. also represented the seller.