20,000 SQFT Retail Beneath Santa Monica’s Waverly and Seychelle Condos Hits Market at $17MM, 70% Above 2021 Sale

The leasehold on two retail condominiums beneath Related California's Waverly and Seychelle towers on Ocean Avenue is back on the market at $17 million, a 70 percent premium to its 2021 trade, as the seller pitches an 89 percent-occupied rent roll, a prepaid ground lease and a dark-but-paying Starbucks space into a downtown Santa Monica retail market still struggling with high vacancy.