Los Angeles – Coldwell Banker Commercial WESTMAC has closed on an off-market sale of 8213-8223 W. 3rd Street. The deal was between private family trusts and comprised of two joint retail buildings purchased at $9,600,000.
Built in 1988, the 7,237-square foot trophy property houses Toast Bakery Café among other retailers, and sits at the corner of S. Harper Avenue and W. 3rd Street in L.A.’s trendy Beverly Grove neighborhood. The lot totals approximately 9,780-sqaure feet, which is conveniently located ½-mile between several of the city’s popular tourist destinations – The Grove, the Original Farmers Market, and the Beverly Center in adjoining Beverly Hills.
“The seller was able to achieve a high price per square foot at $1,326.” T.C. Macker, CCIM said. “Properties are hard to come by on 3rd Street.”
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the buyer. William B. Althouse of Coldwell Banker Commercial WESTMAC represented the seller.