1650 Euclid Street, a commercially-zoned piece of land in the highly-coveted City of Santa Monica, has sold for $17,000,000.
1650 Euclid Street is comprised of ±22,500-square feet of land, used by Seller’s to operate a towing business.
It is located on Euclid Street East of Olympic Boulevard and is a short distance from Santa Monica’s bustling tourism industry, including Santa Monica Beach, Santa Monica Pier and the Third Street Promenade. The property sold to an investor who plans to develop the site, at $755 per square foot.
1650 Euclid Street is adjacent to the headquarters of Bad Robot, the movie production studio of Star Wars director JJ Abrams.
“We are thrilled that we were able to achieve $755 per square foot of land in prime Santa Monica,” said Michael Gordon. “That pocket is high demand area for entertainment and production businesses,” added T.C. Macker, CCIM.
T.C. Macker, CCIM, Michael Gordon, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented both Buyer and Seller.