New Apple Store Fetches Whopping $60 Million

The price ranks among the "highest paid on a per-square-foot basis on the West Coast in several years," Bloomberg reports.

Apple's new Third Street Promenade store fetched nearly $60 million in a real estate deal that closed Monday, Bloomberg reports.

Nakash Holdings purchased the 17,550-square-foot Apple store under construction on the Third Street Promenade in a deal that was contingent on the electronics giant being the tenant, Bloomberg reported Monday in an article that did not estimate the purchase price.

On Thursday, however, it published a story based on interviews with brokers involved in the transaction. They said the price "likely ranks among the highest... on a per-square-foot basis on the West Coast in several years."

"We try to focus on buying the best buildings in the best locations with the best tenants,” Jonathan Bennett, Nakash’s director of real estate, told Bloomberg. "This is the trifecta: Great location, great building and the best retail tenant you could hope for in this market environment."

How about them apples?


For the full story on the purchase price of Apple's new Third Street Promenade store, visit bloomberg.com.

Stay connected with Santa Monica Patch throughout the day on Facebook and Twitter. Subscribe to our free daily newsletter for email updates.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »