Rumor has it that the office building at 501 Colorado and the Midas site are in escrow with a hotel developer. What’s astonishing is the rumored price $35MM+ price for both sites (two – 22,500 SF land parcels across the street from one another) which is at least $777/SF per land foot! We’ll see if it closes… Please see Curbed story: http://la.curbed.com/archives/2011/09/downtown_santa_monica_getting_expoready_with_hotel_explosion_1.php
