WESTMAC Commercial Brokerage Company has arranged the sale of 700 Santa Monica Boulevard in Santa Monica, CA for $12,500,000.
700 Santa Monica Boulevard, also known as 1407 7th Street, is a double parcel of land on the southeast corner of Santa Monica Boulevard and 7th Street. The sale was comprised of a 10,500 square foot retail strip center situated on approximately 15,000 square feet of land. The site is part of Santa Monica’s Downtown Community Plan and zoned Neighborhood Village, which can allow for mixed-use (retail and apartments), office, medical, restaurant, and other potential uses.
“Double lots like this are extremely rare in this location,” said Christian C. Holland.
The first-class location is in Downtown Santa Monica, blocks from world class shopping, dining, and entertainment including Third Street Promenade, Santa Monica Place, Palisades Park, and the Santa Monica Pier.
The property was sold off market to a developer and closed on February 3, 2022.
Christian C. Holland and T.C. Macker, CCIM of WESTMAC Commercial Brokerage Company were the transaction brokers on this sale.
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