Commercial Real Estate, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $2.735 MILLION SALE OF COMMERCIAL BUILDING IN SANTA MONICA


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Sold on February 19, 2021

Santa Monica – WESTMAC Commercial Brokerage Company has arranged the sale of 3009 Lincoln Boulevard in Santa Monica for $2,735,000, or $912 per square foot.

3009 Lincoln Boulevard is a single-tenant retail/office building comprised of approximately 3,000 square-feet on approximately 8,288 square-feet of land. The building was previously used as a dance studio and features hardwood floors, corner parking lot with thirteen parking spaces, and excellent visibility along Lincoln Boulevard. The building was vacant at the time of sale.

“That pocket of Santa Monica is popular for commerce and was a great fit for the Buyer who purchased the building as an owner-user,” said Jeff Pickett.

Jeffrey M. Pickett and T.C. Macker, CCIM of WESTMAC Commercial Brokerage Company represented the Buyer. Drew McAllister of NRE Commercial represented the Seller.

Commercial Real Estate

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $3.45 MILLION SALE OF MIXED-USE IN WEST L.A.


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February 2, 2021

Los Angeles – WESTMAC Commercial Brokerage Company has arranged the sale of 10507-10511 W. Pico Boulevard in the Rancho Park neighborhood of Los Angeles for $3,450,000, or $597 per square foot.

10507-10511 W. Pico Boulevard is a two-story ± 5,772 square foot mixed use situated on ± 4,633 square feet of land. Built in 1981 and renovated in 2019, the building consists of two ground-floor retail and a second-floor office. The property features multiple skylights and balconies, mezzanine level, rear parking lot with room for five to seven cars, and excellent visibility along Pico Boulevard, a major Los Angeles thoroughfare that runs from the Pacific Ocean to Downtown Los Angeles. The building was 100% vacant at the time of sale.

Located one block West of Beverly Glen Boulevard, the property is close to ample shopping, dining, and entertainment amenities; major area employers include Google’s future Silicon Beach headquarters at the former Westside Pavilion, UCLA in Westwood, Century City, and Fox Studios.

“West Los Angeles is a highly desirable area for commerce,” said T.C. Macker, CCIM. “A great fit for the buyer who purchased the building as an owner-user.”

The buyer was in a 1031 exchange and plans to occupy the office and lease out the ground-floor retail spaces.

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company were the transaction representatives for this deal.

About WESTMAC Commercial Brokerage Company

WESTMAC Commercial Brokerage Company is a Los Angeles based commercial real estate brokerage firm founded in 1988 by one of L.A.’s most recognized commercial real estate brokers Timothy C. Macker. Our firm is a full-service real estate company that provides exemplary consultation, advisory and marketing services to property owners, users, developers and investors. From 2001 until 2018, the company was affiliated and a franchisee of Coldwell Banker Commercial before returning to its roots, as WESTMAC Commercial Brokerage Company.

Our 30+ professionals specialize in four distinct market niches: office, industrial, retail and multi-family properties. Among the primary services the firm provides are exclusive marketing of both for-sale and for-lease properties, representation of tenants seeking to lease commercial space, and consultation to real estate investors, developers and owners on the disposition or acquisition of commercial property.

Our standard is “The client’s best interest must be the guiding force behind all services.”

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $2.96 MILLION SALE OF MIXED-USE IN CULVER CITY


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January 28, 2021

WESTMAC Commercial Brokerage Company has arranged the sale of 5620-5622 Sawtelle Boulevard in Culver City for $2,960,000, or $593 per square foot.

The sale was comprised of a one-story mixed-use building approximately 4,991 square feet on approximately 9,912 square feet of land. Built in 1978, the building property features two units, excellent on-site parking, and is a combination of medical and retail. The building was fully leased at the time of sale to a Menchie’s Frozen Yogurt franchisee and a dental office.

5620-5622 Sawtelle Boulevard is located on the corner of Sawtelle Boulevard and Hannum Avenue, just east of major thoroughfare Sepulveda Boulevard, in the Los Angeles City of Culver City. It is across from Studio Village Shopping Center, a 223,608 square foot retail community center featuring national and regional retail tenants. The property offers easy access to the San Diego (I-405) and Marina (SR-90) freeways and the Los Angeles neighborhoods of Mar Vista, Palms, Westchester, Venice, and Playa Vista.

 “We received multiple offers,” said T.C. Macker, “Ultimately it sold to the existing tenant who had right of first refusal,” he added.

T.C. Macker, CCIM, Chris Holland, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller.  Sep Melamed of Prime Properties represented the Buyer.

About WESTMAC Commercial Brokerage Company

WESTMAC Commercial Brokerage Company is a Los Angeles based commercial real estate brokerage firm founded in 1988 by one of L.A.’s most recognized commercial real estate brokers Timothy C. Macker. Our firm is a full-service real estate company that provides exemplary consultation, advisory and marketing services to property owners, users, developers and investors. From 2001 until 2018, the company was affiliated and a franchisee of Coldwell Banker Commercial before returning to its roots, as WESTMAC Commercial Brokerage Company.

Commercial Real Estate

New Listing For Sale or Lease – +/- 5,465 SF Prime West L.A. Owner-User or Investor Opportunity (Brentwood Submarket)


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WESTMAC Commercial Brokerage Company is pleased to present the opportunity to purchase or lease 11954-11960 Wilshire Boulevard, a two-unit, approximately 5,465 square foot commercial building located on approximately 5,480 square feet of land in premiere West Los Angeles. This is an ideal opportunity for a buyer or tenant looking for prime storefront retail or office space in the highly coveted Brentwood submarket of Los Angeles, CA.


Built in 1936, 11954-11960 Wilshire Boulevard features two (2) commercial units zoned [Q]C2-1L-CDO. 11954 Wilshire Boulevard is approximately 3,465 square feet of highly improved space ideal for retail, office, or showroom space. It is currently vacant. 11960 Wilshire Boulevard is approximately 2,000 square feet occupied by Sparky’s Grooming. Sparky’s has been a tenant since 2006 and is currently on a 3-year term NNN lease expiring July 31, 2023.


The property is well located along Wilshire Boulevard, where over 45,000 cars travel each day (per LA Traffic Department). This prime location benefits from the dense, high-earning demographic that resides in the area, and offers access to the highly affluent neighborhoods of Brentwood, Westwood, and Santa Monica. The property is directly across from ample amenities including: Ross Dress for Less, CVS, Jamba Juice, Rubio’s, Fatburger, and many more. The property offers easy access to the 405 freeway and is less than a 15-minute drive (3 miles) to Downtown Santa Monica.

Download Offering Memorandum here

Commercial Real Estate

New Listing For Sale or Lease – Premier +/- 5,828 SF Creative Office/Retail in Westwood (Los Angeles)


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WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire or lease 1611-1615 Westwood Boulevard (“1615 Westwood Boulevard”), a beautifully designed ± 5,828 square foot (per tax record) two-story, modern creative office building featuring atrium-style skylight and large glass paned windows overlooking Westwood Boulevard. It is situated on ± 3,600 square feet of land along the pedestrian-friendly streets of Westwood, a highly coveted commercial and residential neighborhood in the northern central portion of the Westside region of Los Angeles, California.

1615 Westwood Boulevard is located south of major Wilshire Boulevard and two blocks north of Santa Monica Boulevard. The building was built in 1948 and remodeled in 2006. The ground floor currently features six (6) pocket offices, two (2) larger office spaces, reception area and small meeting room. It was previously leased to a legal recruiting center and is currently vacant. The second floor is composed of a lobby, common area, meeting room and various suites that can be used by a single user or divided into a multitude of single suites. There is currently one active lease that will be vacating at the end of May 2021. There are three (3) parking spaces behind the building and plenty of metered street parking along Westwood Boulevard.

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 students, tourists, and locals. It is also close to the 405 Freeway and the former Westside Pavilion, which will be the future site of Google offices in 2022.

1615 Westwood Boulevard provides the opportunity for an owner-user or investor to acquire the ideal COVID friendly office location or headquarters.

Download Offering Memorandun here

T.C. Macker PR releases

KW COMMERCIAL AND WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGE $8.4 MILLION SALE OF OFFICE IN VENTURA, CA


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KW Commercial Calabasas and WESTMAC Commercial Brokerage Company have arranged the sale of 1500 Palma Drive in Ventura, CA for $8,400,000, or $233 per square foot.

Built in 2005, the two-story office building is comprised of approximately 36,000 rentable building area on approximately 77,101 square feet of land. It is home to a mix of office tenants on short term leases, and Barrister Executive Suites, who run the operating agreement for the co-working portion of the building.

1500 Palma Drive has a Class A office environment consistent with the hands-on, quality and care initiated by the Sellers since purchasing the property in 2007. The building features immaculate interiors, manicured exteriors, and has undergone upgrades in recent years; solar panels were installed on the roof in 2015. The interior lobby features high ceilings and high-end finishes. The exterior facade is impeccable, and the grounds are polished and are well-maintained.

The property is ideally positioned along U.S. Highway 101, providing unbeatable signage opportunity and brand exposure to an estimated 110,000 vehicles traveling past each day. It is a short distance from an abundance of restaurants and shopping, including Ventura Riviera and Ventura Gateway shopping plazas, and the Ventura Harbor. Additionally, 1500 Palma Drive is close to numerous technologies, aerospace, communications, agricultural, and manufacturing employers that call the region home.

“Ventura is the region’s leader in the healthcare and public administration sectors with a lack of inventory of well-located office buildings available for purchase in the market,” said Lee Black. At the close of escrow, there were only two office buildings with more than 20,000 square feet of building being offered for sale on Costar within a 10-mile radius of 1500 Palma Drive. “It has ample parking, allowable medical use, and it’s next-door to a 57,000 square foot Kaiser Permanente,” said T.C. Macker. “As a medical owner-user/investor, it was a rare find and the perfect fit for new ownership, who plans to occupy a portion of the building for their expanding medical practice,” Black added.

Lee Black, Veronica Black of KW Commercial Calabasas and T.C. Macker, CCIM, Jennifer Moscoso of WESTMAC Commercial Brokerage Company co-represented the Seller.

This transaction closed on January 8, 2021.

Commercial Real Estate, CRE News

Sold! +/-6,622 SF of Buildings | Retail Storefront & Creative Office


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Sold!

7990-7998 Santa Monica Blvd., West Hollywood, CA 90046

Price:  $4,435,000 ($669/SF on the buildings)

Buildings: ± 6,622 SF

Land Size:  ± 9,458 SF

Closing Date:  12/23/2020

Buyer: West Hollywood RE LLC (represented by T.C. Macker, William Althouse and Jennifer Moscoso – WESTMAC Commercial Brokerage Company)

Seller: 7990 SM, LLC, and Feldberg Family Partnership (represented by T.C. Macker, William Althouse and Jennifer Moscoso – WESTMAC Commercial Brokerage Company)

Notes:

–              2 properties sold together: both vacant at closing

–              First time sale in 50 years!

–              Office and retail use

–              Buyer was in a 1031

Commercial Real Estate

Sold! +/- 2,380 SF Vacant Building in Venice, CA


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Sold

2426 Lincoln Blvd, Venice, CA

Price:  $1,300,000 ($546/SF)

Bldg. Size: ± 2,380 SF

Land Size:  ± 3,045 SF

Closing Date: 12/22/2020

Buyer: Deer Creek, LLC (represented by Jake Zacuto – Zacuto Group Inc.)

Seller: Carmen Haro Trust (represented by T.C. Macker and Brian Hart – WESTMAC Commercial Brokerage Company)

Sale Notes:

–              Deferred maintenance

–              Property was purchased as an investment

–              Property was vacant at the time of sale

Commercial Real Estate

Office / Retail Opportunity | Santa Monica | For Sale or Lease


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Download Offer Memorandum here for more information

WESTMAC Commercial Brokerage Company, as exclusive advisor, is pleased to present 1710 Santa Monica Boulevard for sale or lease. 1710 Santa Monica Boulevard is located at the corner of Santa Monica Boulevard and 17th Street on approximately 10,000 square feet of land, and is made up an approximately 7,000 square foot, two-story building, tailored for office and retail use. Built in 1946, 1710 Santa Monica Boulevard has gone through many renovations over the years. The most recent tenant was Enterprise Rent-a-Car, which occupied the entire building. There is on-site parking for approximately fifteen [15] cars, and an ample amount of metered parking along the street. The building is currently 100% vacant. 1710 Santa Monica Boulevard offers excellent visibility along a highly traveled street in Santa Monica and is located seventeen [17] blocks from the Santa Monica Beach & Pier. The subject property is in close proximity to a variety of amenities; including shops, restaurants, bars, boutiques, and entertainment venues. The location has plenty of accessible public transportation – from MetroLight Rail, to Bus, to scooter. Moreover, there are plenty of major employers in the immediate area. 1710 Santa Monica Boulevard is an incredible opportunity for buyers or tenants to purchase or lease a preeminent location in one of the most in-demand real estate markets in the world.

More than 7 million visitors a year come toSanta Monica, for the world famous beaches and for it’s easy accessibility to other LosAngeles area attractions. Santa MonicaBeach averages more than 300 days of sunshine a year and offers some of the best sunsets on the West Coast. Santa Monica is also known for its walk and bike-friendly streets, as well as ample bus and MetroLight Rail opportunities. Wether you come to Santa Monica to live, work, or play, it is extremely easy to get around and experience all the shops, restaurants, and attractions. Downtown Santa Monica draws thousands of visitors and residents to its streets and coastline. Located alongside the famous Pacific Coast Highway SantaMonica is home to the Santa Monica PierMonica Place Shopping Center, PalisadesPark and Santa Monica beach. With breathtaking ocean views that stretch as far as the eye can see, it undoubtably has the best sightseeing a city can offer.

Commercial Real Estate

New Listing |For Sale | Gardena NNN Industrial Investment Opportunity | Government Credit


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WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire 400 W Rosecrans Avenue in West Rancho Dominguez (Gardena). 400 W Rosecrans Avenue is situated on one parcel, zoned LACM2, comprising of a single-tenant one-story commercial building approximately 24,698-square feet. The total land size is approximately 43,996-square feet (± 1 acre). There are approximately fifty-one [51] spaces in the parking lot. The tenant’s business is supportive housing services, DBA Los Angeles Homeless Services Authority. The recently signed lease expires September 30, 2026. The monthly triple net (NNN) rent is currently about $23.403.82 with 3% increases each October 1st. Located within unincorporated Los Angeles County, 400 W Rosecrans Avenue is close to the 110 Freeway, the Port of Los Angeles, and Los Angeles International Airport.

400 W Rosecrans Avenue offers investors ease of management and stable cash flow with a very strong government tenant paying all expenses and requiring no landlord responsibilities.

This industrial property provides a great investment opportunity as industrial rents are projected to grow over 41% over next 5 years according to CBRE Market Research Report Q2 2020. 400 W Rosecrans is the perfect 1031 property in very tightly constrained market.

The unbeatable location is easily accessible by public transportation. Gardena’s neighboring cities include Torrance, Lawndale, Hawthorne, Redondo Beach and Carson. With strong growth projected and a focus on two major Development Corridors (the Artesia and Rosecrans Corridor), Gardena is an ideal location that offers businesses a competitive advantage. Consumer spending surveys demonstrate $2.3 and $3 billion for each of the Development Corridors and major city arterials.

Download Offer Memorandum here for more information.