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Newmark Knight Frank Handles Sale of Creative Office in Santa Monica

Los Angeles, CA (04/15/2019)

9:00 AM

Newmark Knight Frank (NKF) has announced the $16 million sale of 1545 26th Street, a 16,069-square-foot, three-story freestanding office compound in the heart of the Santa Monica media district.

NKF Senior Managing Directors Steven Salas and Daniel Chiprut, Associate AJ Dorn and Brokerage Services Specialist Britney Kagawa represented the seller Prototype Industries in the $16 million sale to the buyer Ryobi Holdings.

Built in 1982, 1545 26th Street underwent a comprehensive renovation in 2014 by Prototype Industries. The renovation included a complete and creative refresh within the building and new buildings systems, solar panels and fiber optics.

Located mid-block on 26th Street, the property has an abundance of rare collaborative patio areas wrapping both the second and third floors. 1545 26th Street is directly adjacent to The Colorado Center, 2600 & 2700 Colorado, The Pen Factory and the Santa Monica Water Garden. The property is within two blocks from the 26th Street/Bergamont station for the new Expo Line, which connects the property from downtown Santa Monica to downtown Los Angeles.

"In a market with extremely limited investment product this was a great generational purchase. Santa Monica has evolved into one of the most prestigious office markets in the country," said Dorn.

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.

Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group's Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.