Water Garden Phase 2 Signs Tenant
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A Wells Fargo & Co. financial services subsidiary, the Foothill Group, has become the first tenant to commit to the second phase of the Water Garden office complex under construction in Santa Monica.
Through a 10-year lease transaction that Westside real estate sources valued at about $27 million, the 165 employees at the company’s headquarters will relocate in mid-2000 to the west tower of Water Garden’s five-story building at 2450 Colorado Ave. Foothill will move from the nearby Westwood Gateway complex in West Los Angeles into about 60,000 square feet.
Co-developers J. H. Snyder Co., Colony Capital and TransAction Financial expect to open the project July 1. Snyder’s Scott Chalmers and Brendan McCracken represented the landlord in the deal. Jim Travers and James Fish of Travers Realty represented the Foothill Group.
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