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Commercial Scene : Santa Monica Business Park Now 95% Leased

June 25, 1989

Recent lease transactions for 12,000 square feet of space--including a law firm, computer company, medical equipment firm and an advertising agency--have brought occupancy of the $65-million, 48-acre Santa Monica Business Park to 95%.

The 12-building complex at 3250 Ocean Park Blvd., Santa Monica, has 1.9 million square feet, according to Tony Morales, marketing director of Transpacific Development Co., the developer. The recent leases for the 12,000 square feet are valued at more than $2 million, he said.

"Leasing activity at this park represents a trend among companies relocating from highly congested business corridors on the Westside to self-contained environments offering the same kind of amenities," he said.

The law offices of Citron & Peters leased 5,200 square feet for 10 years, with Westmac Commercial Brokerage representing the law firm. QMS Inc., a manufacturer and distributor of computer laser printing systems, leased more than 3,000 square feet. Medirac, a medical supply firm, leased 2,050 square feet and Newmark & Associates, an advertising firm, leased 1,800 square feet for its headquarters, Morales said.

Hawthorne Medical Center

Construction Launched

Construction has started on the $15-million, 64,000-square-foot Century Medical Center at 116th Street and Hawthorne Boulevard in Hawthorne. Completion is expected next year, according to a spokeswoman for the developer, Century Freeway Medical Associates Inc., an affiliate of Tandam Builders Inc., Santa Monica.

Widom Wein Cohen, Santa Monica, is the architect of the six-story building, which will serve Centinela Hospital, Robert F. Kennedy Hospital and Daniel Freeman Hospital. Tandam Builders Inc. is the Construction Co.'s Sabre Springs Business Park, San Diego, for $2,587,000. Coldwell Banker represented the seller, and Cushman & Wakefield represented the buyer.

The buyer plans to build a $10-million, 108,000-square-foot manufacturing facility on the site.

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