Commercial Real Estate

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.

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

Commercial Real Estate, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $5.85 MILLION SALE OF INDUSTRIAL INVESTMENT IN GARDENA, CA


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March 3, 2021

WESTMAC Commercial Brokerage Company has arranged the sale of 400 W. Rosecrans Avenue in Gardena, CA for $5,850,000.

The Property was being sold by Partners Capital, Inc., a privately-owned real estate firm that co-invests with institutions, high net worth individuals, family offices and trusts in value-add real estate. Partners Capital, Inc. and its subsidiaries currently control a real estate portfolio of over one million square feet in California, Nevada, and Arizona. The Buyer was an investor who purchased the property at a 4.8% cap rate.

Located within unincorporated Los Angeles County, 400 W. Rosecrans Avenue is comprised of a 24,698 square foot single-tenant industrially zoned commercial building situated on 43,996 square feet. It is leased to the Los Angeles Homeless Services Authority, a supportive housing service arm for the County of Los Angeles, on a triple net basis with over five years remaining on the term.

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Mark Schuessler of Newmark represented the Buyer.

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.”

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

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