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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, 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, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $13.4 MILLION SALE OF COMMERCIAL PROPERTY IN LOS ANGELES, CA


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12000-12008 Aviation Boulevard in Los Angeles, a commercial property near LAX, has sold for $13,400,000.

12000-12008 Aviation Boulevard is a multi-story R&D building comprised of approximately 49,632-square feet on approximately 61,420-square feet of land. The building was fully leased at the time of sale to one tenant, Trident Dental Laboratories, a manufacturer of dental products. The area is home to several leading aerospace, and research and manufacturing companies, including Boeing, Northrop Grumman, Aerospace Corporation, and Raytheon.

“Through our broad marketing process, we received multiple offers and ultimately selected the perfect buyer in a 1031-Exchange.”,” said T.C. Macker, CCIM. The buyer purchased the building as an investment. The seller will be pursuing other investment opportunities in a 1031-Exchange.

T.C. Macker, CCIM, William B. Althouse and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented both Buyer and Seller.

Commercial Real Estate, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $3 MILLION SALE OF COMMERCIAL PROPERTY IN MALIBU, CA


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22221-22227 Pacific Coast Highway, a commercial property in the City of Malibu, has sold for $3,000,000.

22221-22227 Pacific Coast Highway is a mixed-use commercial property comprised of two buildings, one single-story commercial building and second two-story building totaling approximately 5,582-square feet on approximately 10,743-square feet of land. The building was fully leased at the time of sale to short term tenants.

The seller was a Trust who had owned the property since the 1960s. The building was purchased by Dartbu, LLC, a private investor.

“This was a rare Malibu commercial investment opportunity that generated multiple offers for our seller,” said T.C. Macker, CCIM.

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented both Buyer and Seller.

Commercial Real Estate, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES SALE OF $17 MILLION COMMERCIAL PROPERTY IN SANTA MONICA


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1650 Euclid Street, a commercially-zoned piece of land in the highly-coveted City of Santa Monica, has sold for $17,000,000.

1650 Euclid Street is comprised of ±22,500-square feet of land, used by Seller’s to operate a towing business.

It is located on Euclid Street East of Olympic Boulevard and is a short distance from Santa Monica’s bustling tourism industry, including Santa Monica Beach, Santa Monica Pier and the Third Street Promenade. The property sold to an investor who plans to develop the site, at $755 per square foot.

1650 Euclid Street is adjacent to the headquarters of Bad Robot, the movie production studio of Star Wars director JJ Abrams.

“We are thrilled that we were able to achieve $755 per square foot of land in prime Santa Monica,” said Michael Gordon.  “That pocket is high demand area for entertainment and production businesses,” added T.C. Macker, CCIM.

T.C. Macker, CCIM, Michael Gordon, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented both Buyer and Seller.

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

WESTMAC COMMERCIAL BROKERAGE COMPANY AND AJ MORGAN & COMPANY ARRANGES SALE OF CREATIVE OFFICE/RETAIL BUILDING IN BEVERLY HILLS


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337-339 S. Robertson Boulevard in Beverly Hills, a ±4,493-square foot freestanding commercial building on ±4,652-square feet of land, has sold for $3,126,000.

337-339 S. Robertson Boulevard is a uniquely designed building, featuring lush greenery, brilliant brick and steel exterior, and exposed brick interior. The building’s first floor is leased to two retail tenants, while the second-floor functions as creative office space.

WESTMAC Commercial Brokerage Company and AJ Morgan & Company partnered up to sell the two-story retail and office building. The buyer was an investor who plans to lease the second floor.

“This sale generated tremendous interest,” said T.C. Macker, CCIM. “We had multiple offers and were able to close in less than thirty days.”

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company, and Hai-Ben David and Charles Jacob of AJ Morgan & Company represented both the Buyer and Seller.

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

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES SALE OF COMMERCIAL PROPERTY IN SANTA MONICA


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1619 – 1619 1/2 Santa Monica Boulevard, a commercial building in the highly-coveted City of Santa Monica, has sold for $4,200,000.

1619 – 1619 1/2 Santa Monica Boulevard is comprised of a single-story approximately 5,310-square foot building on approximately 7,500-square feet of land. It is located along the popular Santa Monica Boulevard, home to an abundance of automotive dealers, high-end retailers, businesses, and eateries that serves the surrounding neighborhoods. The property sold to an owner-user buyer at $790 per square foot.

“This was a generational family property and we were glad we could find a great user buyer who purchased at asking,” said T.C. Macker, CCIM.

1619 – 1619 1/2 Santa Monica Boulevard is a short distance from Santa Monica’s bustling tourism industry, including Santa Monica Beach, Santa Monica Pier and the Third Street Promenade.

T.C. Macker, CCIM of WESTMAC Commercial Brokerage Company represented the Seller. Joanne Smith of Rodeo Realty represented the Buyer.

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

COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES SALE OF CREATIVE FLEX IN HAWTHORNE


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Coldwell Banker Commercial WESTMAC has arranged the sale of 12831 Cerise Avenue for $3,278,525.

Located in the City of Hawthorne, blocks from the Hawthorne Airport and Space X facilities, the newly renovated creative flex sits at the forefront of a booming industrial hub. Ample activity surrounds the ±19,284-square foot property, which sold for $455 per square foot at a 5.3% cap rate.

The single-story ±7,200-square foot multi-tenant building features brilliant brick exterior, open floor plans, high bow and truss ceiling, and plentiful parking. The building was fully leased at the time of sale and underwent extensive property improvements prior to market.

“This was an ideal investment opportunity for our buyer, as seller had optimized interest with two new leases in place and a remarkable remodeled building specifically built-out for new tenants,” said T.C. Macker.

The buyer was in a 1031 exchange.

T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented both the seller and buyer. Albert Pacleb of LA Commercial, Inc. represented the seller.

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

COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES $3.68 MILLION SALE OF SERVICE STATION IN LOS ANGELES’ UPSCALE BRENTWOOD NEIGHBORHOOD


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Coldwell Banker Commercial WESTMAC has arranged the sale of 11699 San Vicente Boulevard in Los Angeles for $3,680,000.

The service station at 11699 San Vicente Boulevard in the affluent neighborhood of Brentwood has been sold. The site comprises a ± 99-square foot building on a ± 6,969-square foot lot at the corner of San Vicente Boulevard and S. Barrington Avenue. The buyer was the existing tenant who has been at the property for over 45 years.

“There was a bid process in place,” T.C. Macker said. “We submitted a great offer with a short 15-day escrow and were thrilled when it was accepted.”

T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the buyer. Martin McDermott of Method Commercial represented the seller.