Commercial Real Estate

Commercial Real Estate

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES SALE OF $6 MILLION MULTIFAMILY PROPERTY IN BURBANK, CA


No Comments

Burbank – 2001 Grismer Avenue, a 14-unit apartment building in Burbank, has sold for $6,000,000.

2001 Grismer Avenue is located on the corner of Grismer and Peyton Avenues, less than one tenth of a mile west of S. Glenoaks Boulevard. The property is comprised of ± 11,334 square feet of improvements on ± 10,895 square feet of land. All fourteen apartment units are made up of two bedrooms and two baths. The property sold for $428,571 per unit at 3.88% cap rate, and 18.27 GRM of 18.27. There were no vacancies at the time of sale.

“The proximity to several major area employers, such as Disney Studios and Warner Brothers, makes this a highly desirable rental market,” said T.C. Macker.

WESTMAC Commercial Brokerage Company represented both seller and buyer. T.C. Macker, CCIM and Jennifer Moscoso represented the seller. T.C. Macker, CCIM and J. Patrick Sheekey represented the buyer.

IMG_7481

Commercial Real Estate

Just Listed | 18th & Broadway | Santa Monica | 15K SF of Land


No Comments

WESTMAC Commercial Brokerage Company, as exclusive agent, is pleased to present the sale of 1807 Broadway and 1449 18th Street (“18th and Broadway”), two parcels of land on the NEC of Broadway and 18th Street totaling 15,000 square feet in Santa Monica, California.
The property is zoned Mixed-Use Boulevard Low (MUBL) giving buyers an opportunity for future development. The property is currently leased to a local car dealer as a parking lot for $13,733 a month. The lease expires on September 30, 2020 with no option to extend. This is a rare opportunity for a buyer/developer to receive income while they process their entitlements.
The first class location is 0.2 miles from the Expo Metro Station at 17th and Colorado and easily accessible from all over Los Angeles via the I-10 Freeway on ramp and offramp at 20th Street. The property is a few block from both Santa Monica UCLA Medical Center and Providence St. John’s Medical Center. Large complexes, such as the Watergarden and Colorado Center, are nearby, and are home to leading employers like Amazon, Oracle, Universal Music Group, CBS, Edmunds, Viacom, Lionsgate and many more! There are numerous walkable amenities, including a grocery story (Santa Monica Co-Opp), coffee, restaurants, fitness and shopping.
The underlying zoning allows for mixed-use (retail and apartments), office, medical (with CUP) and other potential uses, making 18th & Broadway one of the last blank canvases left in all of Santa Monica!

Click here to download the offering memorandum.

Front Page OM

Commercial Real Estate

Just Listed | 11699 San Vicente Boulevard | Brentwood Gas Station | Business & Real Estate


No Comments

WESTMAC Commercial Brokerage Company and Petroleum Realty Group are pleased to present the rare opportunity to purchase 11699 San Vicente Boulevard, a service station situated on a triangular lot at the northeast corner of San Vicente Boulevard and Barrington Avenue in Brentwood Village. The offering includes the service station, business currently operating as Conserv Fuel, along with the real estate.

11699 San Vicente Boulevard is comprised of twelve (12) fuel hoses under two (2) canopies and a ± 99 square foot payment booth and limited item C-Store, which are situated on 0.16 AC of land (± 7,098 SF per parcel map), zoned LAC1.5-1VL with a CUP for gas station use.

The owner of the subject property currently operates the fuel facility. The station has two (2) 20,000 gallon double walled fiberglass tanks that were installed in 2006. The tanks are split to carry four products, diesel, E-85, 91 and 87.

11699 San Vicente Boulevard is a rare opportunity to purchase a very profitable gas business at an easily accessible bustling 3-way intersection, with an additional opportunity to expand and add large C-Store on the site. The property comes with a clean phase one with attached “No Further Action” letters, allowing for potential future development opportunity on the land. The zoning allows for other uses including multifamily, retail and office (buyer to verify), all of which are in significant demand in this location.

See Offering Memorandum Here

OM Cover

Commercial Real Estate

Just Listed: 2823 2nd St., Santa Monica, CA 90405 | Multifamily | 12 Units in Santa Monica | $363K/Unit


No Comments

WESTMAC Commercial Brokerage Company, as exclusive agent, is pleased to present the sale of 2823 2nd Street in Santa Monica, a 12-unit apartment building on the NEC of 2nd Street and Ashland Avenue, blocks from the Pacific Ocean, in the Ocean Park neighborhood of Santa Monica.

The building is approximately 7,407 square feet situated on approximately 13,063 square feet of land. It is comprised of twelve (12) units: eleven (11) one bed + one bath apartments and one (1) studio apartment (buyer to verify). The building is subject to City of Santa Monica rent control. Currently, two (2) out of twelve (12) units have been deliberately left vacant. There are nine (9) small garages on the property that are used by tenants as storage.

2823 2nd Street is located in Santa Monica’s Ocean Park neighborhood, one block east of Main Street, and approximately 3 blocks east of the beach. Santa Monica’s Ocean Park neighborhood offers picture perfect sunsets and world class shopping, dining and entertainment all a short walk from the subject property. The property is situated approximately 1.1 miles south of the I-10 Freeway, Downtown Santa Monica’s Light Rail Station, and Downtown Santa Monica’s unparalleled amenity base.

Historically low vacancy rates make Santa Monica one of the most stable rental markets. 2823 2nd Street is a rare opportunity for investors looking to purchase commercial real estate in one of the most coveted markets in the world.

View property brochure here.

2nd St eblast cover jpeg

Commercial Real Estate, CRE News

New Listing: For Sale – Santa Monica – Small Leased Investment


No Comments

3221 Pico Boulevard, a highly visible single-story commercial retail space located in one of Los Angeles’s most exciting neighborhoods for food, culture and entertainment – Santa Monica. In a market with very high demand and very few opportunities, this is a rare opportunity to own in prime Santa Monica.

The subject property is nestled along the heavily-traveled Pico Boulevard, surrounded by an amenity rich area walking distance from its doors, and encircled by a dense affluent residential population. It is currently leased to a restaurant tenant The property is near the 10 and 405 Freeways, giving travelers easy access to all parts of the City, including Santa Monica’s most famous attractions: the beach, pier, and world-class shopping & entertainment.

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, while 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.

Download Property brochure here: 3221 Pico Blvd – OM

IMG_002

Commercial Real Estate, CRE News

New Listing For Sale in West LA | Multi-Tenant Retail & Office Building


No Comments

10507 W. Pico Boulevard is a recently renovated office/retail building comprised of approximately 5,772-rentable-square feet on approximately 4,633-square feet of land located one block West of Beverly Glen Boulevard in West Los Angeles.

The property is made up of 3 units: a retail unit currently leased to an optometrist (vacating on 4/30/2020) , a vacant retail unit previously leased to a restaurant, and a recently renovated, vacant second floor office unit which features a mezzanine level. The building recently underwent major capital improvements including new skylights, new balconies, and a new roof. There is a rear parking lot with room for approximately 5-7 cars, and ample of parking along the street and surrounding neighborhoods.

Built in 1981, the property offers tenants excellent visibility along Pico Boulevard, a major Los Angeles street that runs from the Pacific Ocean in Santa Monica to Central Avenue in Downtown Los Angeles. 10507 W. Pico Boulevard is close proximity to major amenities including shopping, dining, and entertainment, in addition to accessible transportation, and major area employers that includes Google’s future Silicon Beach headquarters at the former Westside Pavilion, UCLA in Westwood, and Fox Studios.

Click here to download property brochure: 10507 W Pico Blvd (v2)

IMG_9736

Commercial Real Estate, CRE News

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


No Comments

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


No Comments

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


No Comments

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


No Comments

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

DCIM100MEDIADJI_0420.JPG