LOS ANGELES—June 18, 2012—CIM Group announced today that is has acquired Lincoln Place, a Class A office building located at 725 Arizona Avenue on the corner of Arizona Avenue and Lincoln Boulevard in the heart of Santa Monica. Constructed in 1990, the four-story Mediterranean-style building offers approximately 37,572 square feet of rentable office space, currently configured as 17 suites. With each floor consisting of approximately 9,500 square feet, the space allows for flexible configurations to accommodate a diverse tenant mix. The building has 118 non-tandem parking spaces that are located in a three-level subterranean parking garage accessible via a ramp off Arizona Avenue.
Situated near the Santa Monica Freeway and the Pacific Coast Highway, Lincoln Place is located in close proximity to Downtown Santa Monica and the Third Street Promenade, which offers a variety of retail and restaurant options for tenants.
For more than 18 years, CIM has invested in retail, residential and office properties in the Santa Monica community, and has made other investments in communities in the West Los Angeles area, including 11600 & 11620 Wilshire Boulevard in Brentwood and 150 & 151 El Camino Drive in Beverly Hills. These communities were identified by CIM as possessing the attributes that fit with the firm’s urban investment strategy.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com