Listed by Lee & Associates - Los Angeles - West
$7,950,000
903 Colorado Ave
Details
APN 4282-029-0091
Property Type Office
Sub Type Creative Office
Square Footage 16,045
Tenancy Single
Brand/Tenant IPSY
Lease Expiration 01/30/2029
Rent Bumps Yes
Lease Options 1st Two (2), Two(2) Months 2nd - Five (5) Years Option
Year Built 1959
Year Renovated 2017
Stories 1
Lot Size (SqFt) 14,243
Zoning MUBL -Mixed Use Boulevard Low
Parking Spaces 22 spaces
Parking per 1,000 SqFt 1.37
Office | 16,045 SqFt
Marketing description
Lee & Associates Los Angeles West, Inc. is pleased to bring to market 903 Colorado Avenue. This fully leased investment opportunity consists of a 16,045 SF standalone creative office building on a 14,243 SF lot.
For the past 8 years, IPSY, a leader in the market of beauty product subscription services, has occupied the building as their main hub. The newly renewed lease is set to expire on January 30, 2029, with a 2 year, 2 month fixed extension that has an outside notice date of October 31, 2026. In addition, IPSY has an additional five-year renewal option at market rates as determined by the parties.
Originally built in the 1959 and extensively renovated into creative office space in 2017, the property boasts an industrial-modernist design. The bright and airy interior features steel windows, skylights, exposed wood ceilings, and polished concrete floors. The layout combines open spaces with enclosed rooms. The HVAC system comprises package units across various zones, allowing efficient airflow control. Additionally, there is beautiful two story entry, handicap elevator to the partial second floor and a high bay area which allows for a multitude of uses.
Positioned as a creative office space in Santa Monica, one of Los Angeles’ most sought-after locations, this property benefits from its proximity to major tech and media employers. The potential for stable investment along with its close access to to public transit and freeways, as well as premier Santa Monica amenities, dining, and nightlife make 903 Colorado a compelling long-term investment opportunity in one of the most supply-constrained markets in the United States.
The property is ideally situated between Downtown Santa Monica and the Santa Monica Media District, just off Olympic Boulevard. Located at 1630 12th Street, it’s only a short drive to freeway access and the 17th Street/SMC Expo Line Station. Santa Monica is a magnet for both visitors and residents, attracting crowds to its vibrant streets and stunning coastline. Key attractions include the Santa Monica Pier, Third Street Promenade, Santa Monica Place Shopping Center, Palisades Park, and the iconic Santa Monica Beach.
Over the years, Santa Monica has emerged as a major dining and entertainment hub for the greater Los Angeles area. The downtown area has undergone extensive redevelopment, with historic and outdated buildings being transformed into trendy retail and entertainment spaces. Notable projects include a $50 million restoration of the historic City Hall, a $55 million redesign of the seven-acre Palisades Park, and a $265 million renovation of the Santa Monica Place mall. Adjacent to Santa Monica Place is the Third Street Promenade, the city’s premier tourist destination and a focal point for retail and entertainment.
Santa Monica has consistently been the top-performing submarket on Los Angeles’ Westside over the past decade, home to some of the region’s most successful retailers and pioneering companies in technology, social media, and entertainment. The city boasts a rich history and diverse culture. Its historic roots, central location, and coastal charm have established Santa Monica as an economic powerhouse, highlighted by its vibrant commercial districts, affluent residential areas, renowned hospitals, cultural and recreational venues, prestigious corporate headquarters, and booming tech, media, and entertainment sectors. As the tech hub of Southern California, Santa Monica’s “Silicon Beach” has attracted major tech companies and startups like Google, Microsoft, Facebook, Snap, Hulu, and YouTube.
All these factors make Santa Monica one of the top sightseeing destinations and most visited tourist spots in the country. Its picturesque scenery, world-class shopping, dining and entertainment make Santa Monica truly unique.
Santa Monica attracts over 8 million visitors annually, thanks to its close proximity to LA attractions and its beautiful beaches, which enjoy over 300 days of sunshine each year. In addition to offering stunning sunsets and breathtaking ocean views, Santa Monica is one of the most walkable and bike-friendly cities in the country. Whether you’re walking, biking, or driving, you’ll find yourself just minutes away from the shops, restaurants, and attractions that make Santa Monica so uniquely connected. It’s the perfect place to live, work, and play.
Listing Contacts
Listed by Lee & Associates - Los Angeles - West
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