Creative Office Renovations Creeping Farther to the East.CREATIVE office conversions are moving east from Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. . Beverly Hills-based PMT See photomultiplier tube. Properties purchased the 24,400-square-foot office building at 10951 Pico Blvd. in West L.A., a block west of the Westside Pavilion The Westside Pavilion is a shopping mall located in West Los Angeles. It is owned and operated by The Macerich Company. It is a three story urban-style shopping mall with 150 shops and is anchored by a Macy's (formerly May Company and later Robinsons-May) and a Nordstrom. . The Center for Law in the Public Interest Foundation sold the building for about $3.55 million. PMI See Private Mortgage Insurance. , which has done several Westside creative office conversions, plans to give the facade a contemporary look, add windows and convert offices inside to creative office space, with high ceilings and exposed structural work, wood floors, operable operable /op·er·a·ble/ (op´er-ah-b'l) subject to being operated upon with a reasonable degree of safety; appropriate for surgical removal. op·er·a·ble adj. windows and designer lighting. Jeffrey Palmer, a partner at PMI, said the building will be renamed the Soho Creative Offices "to reflect its soon-to-be look." "This is what we consider on the fringes of the outgrowth from Santa Monica," said Palmer, who also developed the Penn Station project in Santa Monica. "The area is very convenient to the Westside and rich in amenities, but it's an overlooked area. We are pioneering." Barry Gordon of Marcus & Millichap represented the buyer and seller. Further evidence of the trend is that the owner of Westside Pavilion, Macerich Co., is contemplating converting some space in the mall's adjacent outdoor retail center into creative office space. |
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