Phelps, an integrated marketing company, finalized the sale of its building today in Santa Monica as it prepares a new space for its growing client roster and expanding digital capabilities.
901 Wilshire Boulevard, for many years the largest agency-owned building in Southern California, has been sold to Dr. Andrew Brooks, Co-founder and Chief Medical Officer of TigerText, a Santa Monica-based technology company. Phelps will lease back as it prepares the build-out of its future headquarters.
Phelps’ three-story building’s interior was ahead of its time when it was redesigned 18 years ago to an open layout with generous common areas to facilitate agency brainstorming sessions, cross-team collaboration and feedback mechanisms. The current 21,600 sq. foot creative space at 901 Wilshire has been home to Phelps associates since 1997 and an innovative office space in the community. Phelps installed Santa Monica’s largest privately-owned commercial solar panel installation atop the building in 2007.
Joe Phelps, CEO, says, "This decision was the natural evolution of our growth strategy. We’ve called Santa Monica home for almost two decades, so we’ll miss our friends in the community. It’s a great time for us and for what lies ahead."
This move is necessitated by the growth of Phelps’ practice of integrating brand strategy, messaging, media and analytics across multiple platforms.
Pat Ayau and Andrew Wilson of Lee Associates brokered the sale of 901 Wilshire. Daniel Chiprut, of Commercial Asset Group, was the agent for Brooks.