Commercial Real Estate

New Listing For Sale – Redevelopment Opportunity in Santa Monica, CA


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WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire, 1718 20th Street, a 14,480 square foot site featuring a two-story commercial building totaling approximately 7,762 square feet (per tax record) in Santa Monica, CA. The site gives way to a prime redevelopment opportunity with unmatched visibility and excellent access to transit, including the Metro Expo Line, Pacific Coast Highway and the 10 Freeway, in one of the most dynamic office and retail markets in the world. The property currently houses an auto body shop on the first level, four (4) office tenants occupying five (5) suites on the second level and plenty of parking for approximately twenty (20) vehicles.

There is tremendous flexibility for owner-users or savvy investors seeking to redevelop the site. The property falls under Santa Monica’s Industrial Conservation (IC) zoning and can accommodate a variety of uses ranging from creative office, media production and car dealerships to R&D, self-storage and 100% affordable housing. 1718 20th Street is a rare opportunity for buyers looking to position themselves in one of Southern California most iconic and prosperous locales for technology, entertainment, and media.

Asking Price: $14,000,000

Listed by Tobin McAndrews, T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company, |1515 S. Sepulveda Boulevard, Los Angeles, CA 90025 | Company DRE# 01096973 | http://www.westmac.com

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $11.5 MILLION SALE OF TWO COMMERCIAL BUILDINGS IN WEST HOLLYWOOD, CA


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CLOSED ON AUGUST 19, 2021

WESTMAC Commercial Brokerage Company has arranged the sale of 8229 and 8235 Santa Monica Boulevard in West Hollywood for $11,500,000.

The sale was comprised of two separate multi-tenant buildings home to a mix of office and retail tenants. The offering consisted of 8229 Santa Monica Boulevard, a two-story ± 3,584 square foot building on 7,789 square feet of land, and 8235 Santa Monica Boulevard, a ± 18,322 square foot building on 9,826 square feet of land. A shared parking lot with approximately forty-eight spaces is located behind the buildings.

8229 and 8235 Santa Monica Boulevard are situated between Harper and Havenhurst Avenues at the center of a broad range of retail and office amenities that make up the highly traveled, popular Santa Monica Boulevard district. The immediate area is surrounded by affluent neighborhoods, highly sought-after boutique shopping, and some of the most desirable entertainment destinations in the world.

“The Seller received multiple offers within the first week which allowed for a quick closing at an aggressive cap rate,” said T.C. Macker, CCIM. “Under market rents and short-term leases created tremendous upside opportunity for the buyer,” Chris Holland added.

The buildings were sold together to an investor by a private trust.

T.C. Macker, CCIM, Christian C. Holland, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Conor Halloran and Brad McCoy of Lee & Associates Los Angeles West, Inc. represented the Buyer. This is the second sale of the subject properties for the listing team at WESTMAC Commercial Brokerage Company.

CRE News, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES SALE OF TRIPLE NET LEASED RESTAURANT IN SANTA MONICA, CA


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PROPERTY CLOSED ON AUGUST 20, 2021

WESTMAC Commercial Brokerage Company has arranged the sale of 3221 Pico Boulevard in Santa Monica, California for $1,679,888.

An investor has purchased the 2,250 square foot single story restaurant building from a private Trust. The property is leased to a Vietnamese noodle bar, Viet Noodle. Cap rate was 5.6%.

“Once the mask mandate was lifted for indoor dining, the activity spiked and we garnered multiple offers shortly thereafter; and ultimately, selling to a 1031 exchange buyer,” said T.C. Macker, CCIM.

3221 Pico Boulevard is in an excellent Santa Monica location bordering West Los Angeles with easy access to the 10 and 405 freeways. The immediate area is home to a vibrant neighborhood full of pedestrian friendly sidewalks and plenty of walkable restaurants and retailers, including Trader Joes, Whole Foods 365, and The Upper West.

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. George Gross of Coldwell Banker Commercial NRT represented the Buyer.

Commercial Real Estate

New Listing For Sale – 6,900 SF of Multifamily Land in Brentwood – Development Opportunity


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Located between Kiowa Avenue and Goshen Avenue, 1115-1121 S. Westgate Avenue features two parcels totaling ±6,900 square feet of land in the highly desirable Brentwood neighborhood with [Q]R3-1 zoning. The lack of developable R3 and R4 zones in LA is one of the biggest roadblocks to constructing new apartments, making this an extraordinary opportunity for savvy developers looking to build multifamily housing development. The former building has been demolished and the lot currently sits vacant. The Seller has submitted plans based on by right development for a four (4) story, eight (8) unit apartment building with one (1) level of subterranean parking. Plans are pending.

The Property’s unbeatable Brentwood location is one of Los Angeles’s most desirable and sought after neighborhoods , combined with a high barriers to entry market, making this a rare development opportunity. The Property is located less than one mile from the VA Greater Los Angeles Healthcare System and has a high walk score of 86. It is also in close proximity to UCLA, Westwood, Santa Monica and The Pacific Palisades. The location provides easy access to both the 405 and 10 freeways and access to many of the best shopping, dining, and museums that Los Angeles has to offer.

Download the OM here

You can download development information and other available due diligence documents by going to www.WestgateDevelopmentOpportunity.com.

CRE News, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $31.5 MILLION SALE OF PRIME BLOCK-TO-BLOCK PARCELS AT INTERSECTION OF 26TH STREET AND WILSHIRE BOULEVARD IN SANTA MONICA, CA


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Closed on July 15, 2021

Santa Monica, CA – WESTMAC Commercial Brokerage Company has arranged the sale of seven contiguous parcels along Wilshire Boulevard in Santa Monica, California for $31,500,000, or $572 per square foot of land.

Located along an iconic strip of Wilshire Boulevard between 25th Street and 26th Street on the North side of the street in Santa Monica, the sale was comprised of 2501-2525 Wilshire Boulevard, 1143, 1145, 1151 25th Street, and 1142, 1148, 1156-1158 26th Street. The entire sale totaled approximately 55,000 square feet of land (1.27 acres) and consisted of three commercial properties, in addition to four parking lots.

The commercial properties located along Wilshire Boulevard are designated Mixed Use Boulevard (MUB) zoning, while the others are designated as Low Density Residential (LDR) zoning. The property is currently occupied by a small strip center, an office building, and a mixed-use building.

 “There are very few properties in Santa Monica that come up as versatile as this, it’s a highly coveted location that hasn’t been on the market in over fifty years,” said T.C. Macker.

T.C. Macker, CCIM of WESTMAC Commercial Brokerage Company was the broker on this transaction.

26th & Wilshire has Sold!
CRE News, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $2.975 MILLION SALE OF WILSHIRE BOULEVARD COMMERCIAL BUILDING IN BEVERLY HILLS, CA


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Closed on July 12, 2021

WESTMAC Commercial Brokerage Company has arranged the sale of 8620 Wilshire Boulevard in Beverly Hills, California for $2,975,000, or $729 per square foot. The sale was comprised of a freestanding commercial building in coveted Beverly Hills surrounded by high-end retail, five-star dining establishments, and luxury hotels.

Nestled midblock, two streets West of the heavily traveled intersection at La Cienega Boulevard and Wilshire Boulevard, 8620 Wilshire Boulevard is comprised of a single-story approximately 4,076 square foot building situated on approximately 5,056 square feet of land. Built in 1951, the building offers unique design elements with indoor and outdoor features that make the property an architectural gem. The property had previously operated as the Phillipe Chow restaurant and was vacant at the time of sale.

“We had a lot of interested parties that were attracted to the property’s unbeatable location and unmatched exposure,” said T.C. Macker, CCIM. “We received multiple offers and ultimately sold to a 1031 buyer in a reverse exchange,”

8620 Wilshire Boulevard is close to world class museums, upscale shopping and fine dining including the Los Angeles County Museum, Petersen Automotive Museum, the Farmer’s Market, Beverly Center and Restaurant Row.

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company were the brokers on this transaction.

Commercial Real Estate

For Sale/Lease – Storefront Commercial + Workshop in Santa Monica, CA


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Looking for your new office headquarters? Look no further! Introducing to the market, 1855 Lincoln Boulevard, two-unit storefront commercial building with a workshop in the back, located in Santa Monica, CA.

1855 Lincoln Boulevard is comprised of a ± 2,500 square foot storefront commercial building plus an ± 888 square foot workshop behind the building for a total of ± 3,388 square feet of building situated on ± 7,000 square feet of land. Built in 1996, the property falls within Santa Monica’s General Commercial (GC) zone, and can accommodate a number of uses including retail, walk-in office, and small restaurants (check with City of Santa Monica for specific use). There is room to park eight (8) to ten (10) cars in the rear of the property, which is protected by a security gate. The property is nestled along the heavily traveled Lincoln Boulevard (one building north of the Pico Boulevard intersection), surrounded by an amenity rich area walking distance from its doors.

The building is made up of two (2) ± 1,250 square foot lofted storefront units. Both units are nearly identical and offer tenants and buyers open floor plan, sleek design, polished concrete flooring, 18’ ceilings with exposed ductwork plus loft, and private office. A spiral staircase leading to the loft adds a unique touch of vintage flair to each space. All units have a private bathroom, including the workshop; and are separately metered. The property is partially occupied by Seller and will be delivered vacant upon the close of escrow, or execution of lease.

1855 Lincoln Boulevard is strategically located in an excellent Santa Monica location with easy access to the 10 and 405 freeways. It is part of Santa Monica’s Pico neighborhood on a prime strip of Lincoln Boulevard with a daily traffic count of over 42,000 CPD. The property is located along the east side of Lincoln Boulevard, just north of the major signalized Pico Boulevard intersection. The area is an ideal location surrounded by walkable amenities, including Walgreen’s, Starbucks, Fatburger, Chick-fil-A, Sherwin Williams, Shell station, and many others. The property’s location offers proximity to Downtown Santa Monica, Venice, and the beach.

Download the Offering Memorandum HERE for more information.

Commercial Real Estate

For Sale – Landmark West L.A. Gas Station – Corner Mobil


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WESTMAC Commercial Brokerage Company and Petroleum Realty Group are pleased to present the rare opportunity to purchase 1660 S. Sepulveda Boulevard, a service station situated at the northeast corner of Santa Monica Boulevard and S. Sepulveda Boulevard in West Los Angeles. The Station has been a landmark for many years and features the very popular deli & grill called The Corner Deli & Grill. The offering includes the service station, business currently operating as Mobil with more than fourteen (14) years left on the fuel agreement, along with the real estate.

1660 S. Sepulveda Boulevard is comprised of twelve (12) fuel hoses under one (1) canopy, a ± 1,400 square foot C-Store that includes ATM and Bitcoin machines and the much-loved local favorite, The Corner Deli & Grill. There is an income producing billboard located on the property which ownership owns the right away, not the sign. The billboard has a ten (10) year effective NNN lease from 2019. Current rent is $46,200, increase to $48,600 in 2023 and $52,600 in 2026. In addition ownership gets a profit share of 35% of annual adjusted gross advertising revenue. All are situated on approximately 10,466 square feet of land. The land is zoned [Q]C2-1VL-O with a TOC Tier 2 overlay.

The station has four (4) double-walled 10,000 gallon tanks and four (4) new Wayne Ovation 2 Series MPD’s with a Gilbarco Passport POS. The station serves Regular Unleaded, Extra Unleaded, Super Unleaded and Diesel. All pumps have been updated and are EMV compliant.

1660 S. Sepulveda Boulevard is a rare opportunity to purchase a very profitable gas business at a major signalized intersection with no corner competition and easy access to the 405 Freeway. The property comes with a clean phase two. This is an excellent opportunity to purchase a trophy investment in prime West Los Angeles, CA.

Cilck Here to Download Flyer. Go to CornerMobil.com to Download Full Offering Memorandum.

Commercial Real Estate, CRE News

For Sale – Santa Monica – STNL – 4.96% Cap


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WESTMAC Commercial Brokerage Company is proud to present the sale of 3221 Pico Boulevard, a highly visible single-tenant net-leased commercial restaurant located in Santa Monica, one of Los Angeles’s most exciting neighborhoods for food, culture and entertainment. 3221 Pico Boulevard is a 2,250 square foot single tenant commercial building situated on approximately 2,500 square feet. It was built in 1952 and part of Santa Monica’s Neighborhood Commercial (NC) zone.

3221 Pico Boulevard is nestled along the heavily-traveled Pico Boulevard, surrounded by an amenity rich area walking distance from its doors. It is currently leased to a restaurant tenant. The lease is triple net (NNN) providing for zero to very minimal landlord responsibilities. The monthly triple net (NNN) rent is currently $7827.70 with CPI adjustments each February 1. The triple net charges are approximately $1,036 per month. The current lease expires January 31, 2025.

The property is strategically located in an excellent Santa Monica location bordering West Los Angeles, Westwood, Brentwood, Mar Vista, Venice and Pacific Palisades are adjoining neighbors with easy access to the 10 and 405 freeways. Walkable amenities include Trader Joe’s, Whole Foods Market 365, UnUrban Coffee House, Chase Bank, Rejuice, Crossfit Reflex, The Upper West, Valentino, and many more!

Click Here to Download Offering Memorandum

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $4.495 MILLION SALE OF HIGH-PROFILE OFFICE BUILDING IN WEST HOLLYWOOD, CA


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March 29, 2021

WESTMAC Commercial Brokerage Company has arranged the sale of 8756 Holloway Drive in West Hollywood, California for $4,495,000.

The sale was comprised of a three-level boutique office building totaling approximately 3,000 square feet situated on approximately 1,313 square feet of land. The property is located mid-block just south of Sunset Boulevard, an infamous hub for retail, nightclubs, and iconic entertainment venues that make up the World-Famous Sunset Strip.

The new owner plans to use the building for her business. The property was delivered vacant at the close of escrow.

“Although the building garnered multiple offers, we are thrilled that we were able to achieve $1,498 per square foot in West Hollywood despite a global pandemic,” said T.C. Macker, CCIM.

T.C. Macker, CCIM, William B. Althouse, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Jason Froehlich of Douglas Elliman Commercial represented the Buyer. This is the second sale of 8756 Holloway Drive for the team at WESTMAC Commercial Brokerage Company.