Commercial Real Estate, CRE News

For Sale or Lease | Rare Retail Center along San Vicente Blvd (Mid-Wilshire/Miracle Mile)


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5517 San Vicente Boulevard is a highly visible shopping center made up of an approximate 3,990-square foot building on approximately 9,553-square feet of land. The property includes a parking lot, available signage, and billboards.

Existing tenants are on month-to-month leases. Two income producing billboards on property.

5517 San Vicente Boulevard is located at the signalized corner of San Vicente Boulevard and Hauser Boulevard in Mid Wilshire. Manicured homes and multifamily units make up the quiet residential neighborhood that surrounds the immediate vicinity.

5517 San Vicente Boulevard is located blocks from Wilshire Boulevard in Miracle Mile, where the Petersen Automotive Museum and Los Angeles County Museum of Art (LACMA) draw hundreds of visitors a day.

Visit property website for more info and to download property brochure here.

Commercial Real Estate, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES A $15 MILLION TRANSACTION IN BEVERLY HILLS GOLDEN TRIANGLE


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9701 S. Santa Monica Boulevard, a multi-tenant mixed-use building in the Beverly Hills Golden Triangle, has sold for $15,000,000.

Located in the famed Golden Triangle of Beverly Hills on the northwest corner of South Santa Monica Boulevard and Roxbury Drive, 9701 S. Santa Monica Boulevard consists of a two-story mixed-use building of approximately 18,094 square feet. The building is home to a variety of office and retail tenants.

The property was sold through a court-ordered Receiver sale. The buyer was Optimus Properties, LLC, who purchased the property for $15,000,000.

“There are very few properties in Beverly Hills that come up as versatile as this, it’s a highly coveted location with vacancy that gave the buyer valuable upside,” said T.C. Macker.  “Optimus Properties already own properties nearby, they saw a great opportunity and seized it.”

Stephen Algermissen of Cushman and Wakefield, and T.C. Macker, CCIM and Luke J. Palmo of WESTMAC Commercial Brokerage Company represented both the Buyer and the Seller.

Commercial Real Estate, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES SALE OF $12.175 MILLION REDEVELOPMENT PROPERTY IN SANTA MONICA


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700-716 Colorado Avenue, a redevelopment opportunity in the highly-coveted City of Santa Monica, has sold for $12,175,000.

700-716 Colorado Avenue is comprised of ±20,139-square feet of land with two buildings totaling ±20,348-square feet.

The property is located at the intersection of Colorado Avenue and 7th Street, walking distance to the Metro’s Expo Light Rail Station and Santa Monica’s Third Street Promenade.

“The close proximity to the Metro line and to Downtown Santa Monica makes this area ripe for continued growth,” said T.C. Macker.

T.C. Macker, CCIM and Christian C. Holland of WESTMAC Commercial Brokerage Company represented the Buyer. Jeffrey Nason of Nason Realty & Investment Company, Inc. represented the Seller.

Commercial Real Estate

New Listing for Sale | 900 E Colorado St. | Glendale | Shopping Center | ±17,127 SF | ±65 Parking


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WESTMAC Commercial Brokerage Company is pleased to present for sale 900 E. Colorado
Street, a 100% occupied ± 17,127-square foot (17,064 per tax record) multi-tenant shopping center in Glendale, CA. 900 E Colorado, also known as Jasmine Plaza, is an ideal opportunity for investors to acquire an excellent property located in a desirable market.

900 E. Colorado Street is located in a dynamic retail submarket, situated less than a mile from The Americana at Brand, one of the 15 most productive and highest-grossing retail centers in the world. Anchored by Sherwin Williams, 900 E. Colorado Street is comprised of three (3) buildings which are situated on ± 49,261-square foot (per tax record) lot, and houses a mix of nationally recognized and mom & pop tenants.

The center features a strong and highly synergistic tenant line up comprised of popular local operators and large national brands. A number of existing tenants are paying below market rates. Jasmine Plaza also benefits from a strong, retail core location.

900 E. Colorado Street houses a mix of food, medical, and professional service tenants makes it highly resistant to recessionary and e-commerce pressures. Jasmine Plaza has stable cash flow due to in-place leases but also offers flexibility with month to month tenants. 900 E Colorado Street also provides buyer with immediate upside and ability to increase NOI after CAM Reconciliation.

See Offering Memorandum Here: 900 E Colorado St – OM

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Commercial Real Estate, CRE News, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES SALE OF COMMERCIAL BUILDING IN LOS ANGELES & CULVER CITY


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11452-11456 W Washington Boulevard, a multi-tenant commercial building, has sold for $2,385,000.

11452-11456 Washington Boulevard is comprised of one ± 5,248-square foot building on ± 6,500-square feet of land. The site features 50 feet of frontage along Washington Boulevard, three commercial units, one of which has a bow truss ceiling. The property, formerly occupied by artists, is located in Los Angeles and Culver City.

The front two commercial units were leased to a single tenant, art gallery, at the time of the sale, the rear unit was vacant.

“We were able to drive great interest for the property and ultimately sold at asking price to a 1031 exchange buyer” said T.C. Macker, CCIM.

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Dan Pickart of Industry Partners represented the Buyer.

Commercial Real Estate

New Listing for Sale – 2245-2251 Westwood Blvd in Los Angeles, CA


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WESTMAC Commercial Brokerage Company, as exclusive agents, are pleased to present for sale, 2245-2251 Westwood Boulevard in West Los Angeles. 2245-2251 Westwood Boulevard is situated on one parcel, and is comprised of one single-story retail building, and one two-story mixed-use building.

The retail building, which has 40’ of frontage on Westwood Boulevard, is approximately 1,800 square feet, is currently subdivided into two spaces, but occupied by a single tenant. The mixed-use building is set behind the retail building, separated by 5 tandem parking spaces (10 total).

The mixed-use building is comprised of four units totaling approximately 2,600 square feet. The bottom floor of the building is approximately 1,400 square feet and will be delivered leased (lease pending). The top floor of the building is divided into two residential units (each 1 bedroom, 1 bath) of about 600 square feet each, separated by a main stairway. They are occupied by one long term tenant and one new tenant (lease pending).

The parcel is zoned LAC4 and a TOC (Transit Oriented Communities) Tier 3 which allows for greater development potential for developers looking to build in a revitalizing area. They property is located one-quarter mile from One Westside, the site of a former shopping mall which is being converted into nearly 600,000 square feet of offices, which Google has pre-leased.

2245-2251 Westwood Boulevard offers buyers the opportunity to purchase
on Westwood Boulevard, a street best known for it’s ample retail amenities
within a densely populated part of West Los Angeles.

You can download the property brochure here: 2245-2251 Westwood Ave – OM

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Commercial Real Estate

New Listing for Sale – 2001 Grismer Ave in Burbank, CA


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WESTMAC Commercial Brokerage Company is pleased to present 2001 Grismer Avenue for sale, a 14-unit multi-family asset located in the premiere, family-friendly City of Burbank, CA.

2001 Grismer Avenue is a two-story apartment building comprised of approximately 11,334 square feet situated on approximately 10,895 square feet of land. There is a subterranean parking garage with two dedicated parking spaces per unit
(28 total). The property is zoned R4.

There are a total of 14-units in the building. The building is fully occupied with the exception of one unit, which is currently being rehabbed. The current rents range from $1,750 – $2,090 per month with scheduled increases.

The property is located in Burbank, which is a highly desirable rental market and is known as “the media capital of the world”. It is home to Disney Studios, Warner Brothers, and a number of other large area employers. The city has over 80 restaurants, 30 theaters ,and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to Bob Hope Airport, Burbank Empire Center, Downtown Burbank, and Burbank Metro Link.

2001 Grismer Avenue provides buyers with stable cash flow and a strong long-term hold opportunity in a prime Burbank location.

You can download the property brochure here: 2001 Grismer Ave – OM

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Commercial Real Estate

New Listing for Sale – 1310 Westwood Blvd in Los Angeles, CA


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Keller Williams Realty Westside and WESTMAC Commercial Brokerage Company are pleased to present the sale of 1310 Westwood Boulevard, a ±6,681-square foot freestanding retail/office building situated on a ±6,601-sqaure foot lot located in Southern California’s popular Westwood neighborhood along highly-traveled Westwood Boulevard.

1310 Westwood Boulevard is a two (2) story commercial building located one block south of major Wilshire Boulevard between Rochester Avenue and Wellworth Avenue. The building was built in 1955, with a second floor addition added in 1968. The ground floor features an open floor plan plus one (1) private office. The second floor is composed of five (5) private offices, two (2) restrooms and a break room. The building also features one (1) elevator and a secured parking garage with room for approximately nine (9) cars parked tandem. The property is currently vacant.

The major intersection at Wilshire Boulevard and Westwood Boulevard is located one block North of the subject property. Wilshire Boulevard between Westwood Boulevard and Veteran Avenue is the future site of a Metro’s Purple Line Subway Station. The construction of the Purple Line designates 1310 Westwood Boulevard as a TOC Tier 3 zoned parcel, giving developers potential to build a mixed-use building of 30-units residential over 1,500-SF to 3,000 SF of retail.

The property’s location in the heart of Westwood offers close proximity to one of the country’s most influential and successful universities, UCLA. It is also walking distance to Westwood Village, a popular shopping, dining and nightlife locale for UCLA students, tourists, and locals.

1310 Westwood is an ideal opportunity for buyers looking to purchase retail, office or developable property in Los Angeles’ affluent and highly coveted Westwood submarket.

You can download the property brochure here: 1310 Westwood Blvd.

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Commercial Real Estate, CRE News

New Listing for Sale – 4047-4051 Lincoln Blvd in Marina Del Rey, CA


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One block away from the heavily trafficked intersection of Washington Boulevard and Lincoln Boulevard, 4047-4051 Lincoln Boulevard is ± 9,467 square foot single story retail/ office (& flex) building on ± 11,280 square feet of land. The property is currently subdivided into four units, one of which is occupied. The property is zoned (Q)LAC4(OX)-2D-CDO, and has eleven (11) striped parking spaces.

Additionally, the underlying land has great future development potential given the zoning and proximity to transit.

The property is just minutes away from Venice and Playa Vista. 4047-4051 Lincoln Boulevard presents an excellent opportunity for investors, developers and owner-users to own in a centralized location of Silicon Beach.

You can download the property brochure here: 4047-4051 Lincoln Blvd – OM (v2)

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Commercial Real Estate

New Listing for Sale in Santa Monica – 4,000 SF Investment Opportunity


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WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire 2028-2030 Montana Avenue in Santa Monica. 2028-2030 Montana Avenue is located in the upscale Montana Shopping District of Santa Monica. 2028-2030 Montana Avenue is situated on two parcels comprising of a single-tenant one-story commercial building approximately 4,000-square feet and a parking lot. The total land size is approximately 8,000-square feet. There are approximately eight (8) parking spaces in the parking lot. The property is zoned residential with a CUP which permits the use of the property as a market (no expiration date).

The tenant is a market called The Farms. The current lease expires November 4, 2028. The monthly triple net (NNN) rent is currently about $14,063 with CPI adjustments each July 1.

Located along Montana Avenue, 2028-2030 Montana Avenue is walking distance to an abundance of high-end retailers, restaurants, and businesses all of which are part of the popular shopping destination known as the “Montana Avenue Shopping District” in the affluent Wilshire Montana neighborhood. 2028-2030 Montana Avenue is also a short 4-block walk to Wilshire Boulevard and minutes from Santa Monica’s bustling tourism industry, including Santa Monica Beach, Santa Monica Pier and Third Street Promenade.

2028-2030 Montana Avenue offers buyers ease of management and stable cash flow along a highly coveted street in one of the most sought after markets in the world.

Download Full Property Brochure Here