commercial properties

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COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES SALE OF MULTI-TENANT COMMERCIAL PROPERTY IN MARINA DEL REY


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3007 Washington Blvd | Sold for $7,515,888
Los Angeles (Marina Del Rey), CA

Coldwell Banker Commercial WESTMAC has arranged the sale of 3007 Washington Boulevard for $7,515,888.

Located along Washington Boulevard between major thoroughfare Lincoln Boulevard and popular Abbot Kinney Boulevard, 3007 Washington is made up of one two-story multi-tenant building approximately 11,312-square feet on an approximate 9,904-square-foot lot. The building is occupied by a mix of creative offices and retail.

Ness Holdings Inc, the seller, purchased the property in 2015 and performed substantial renovations to the exterior and select interior units.  Ness saw an opportunity to reposition an underperforming asset in a great sub-market for creative office tenants.  During its ownership, Ness released ~30% of the renovated space to a variety of new tech firms, further validating the area’s desirability amongst tech firms. The building was purchased by Ashley Square Associates, LLC, a company sponsored and controlled by Craton Capital Management, in a tax deferred 1031-exchange.

“This area attracts many of the city’s tourist due to its close proximity to Abbot Kinney, Lincoln Boulevard and the beach, making it very appealing to buyers.” T.C. Macker, CCIM said. “We had a lot of interested parties and received multiple offers.”

T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC and Michael Preiss, Kevin Simpson, Erica Taylor of rsfLA, Inc represented both the Buyer and Seller.

T.C. Macker PR releases

COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES SALE OF COMMERCIAL PROPERTY IN MAR VISTA


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12820 Venice Blvd
Los Angeles (Mar Vista), CA

Coldwell Banker Commercial WESTMAC has arranged the sale of 12820 Venice Boulevard for $1,275,000.

12820 Venice Boulevard, a commercial retail building near downtown Mar Vista, has sold for $645 price per square foot. The property consists of one single-story building, approximately 1,974-square feet on an estimated 4,721-square feet of land.

A private buyer purchased the property as owner-users and was able to secure 90% SBA financing. “The buyer recognized a unique opportunity to purchase prime commercial real estate that would give their business excellent visibility along Venice Boulevard,” said T.C. Macker, CCIM.

The area along Venice Boulevard is amenity rich, surrounded by dense residential, and is easily accessible to the 405 Freeway and Pacific Coast Highway.

T.C. Macker, CCIM and Brian R. Hart of Coldwell Banker Commercial WESTMAC represented Buyer and Seller.

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Just Sold in Santa Monica – 1820 Broadway


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1820 Broadway | Sold for $$2,862,500
Santa Monica, CA

1820 Broadway in Santa Monica has sold for $2,862,500. The ±3,125-square foot property is made up of a ±2,500-square foot commercial building and a ±625-square foot detached residential dwelling in rear. The property was being offer for sale or lease and was purchased by an owner-user. T.C. Macker and J. Patrick Sheekey of Coldwell Banker Commercial represented the Seller. Jeff Pion of CBRE represented the Buyer.

Seller Results:

-30 Day Escrow

-All Cash Buyer

-Buyer is an Owner-User

-Multiple Offers Received

-Seller will do a 1031 exchange

T.C. Macker PR releases

COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES $1.7 MILLION SALE OF PLAYA VISTA OFFICE BUILDING


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Coldwell Banker Commercial WESTMAC has arranged the sale of 5560 S. Centinela Avenue in the Playa Vista neighborhood of Los Angeles for $1,700,000.

The 2,134-square foot office building near the corner of Jefferson Boulevard and S. Centinela Avenue has sold to a private buyer for approximately $796 per square foot. The 5,027-square foot lot is minutes from The Brickyard, The Runway, Spruce Goose Hangar and many other major Playa Vista developments.

“Playa Vista is a hotbed for creative and tech industries and has quickly become one of the area’s most sought after neighborhoods,” said T.C. Macker, CCIM. “The buyer saw a great opportunity and purchased the property “As Is.’”

T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the Seller. Todd Masser of Coldwell Banker Commercial NRT represented the Buyer.

T.C. Macker PR releases

Just Sold – 11669 Santa Monica Blvd in West LA


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COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES $4.7 MILLION SALE OF MEDICAL-OFFICE BUILDING IN WEST LOS ANGELES, CA

Los Angeles – Coldwell Banker Commercial WESTMAC has arranged the sale of 11669 Santa Monica Boulevard in West Los Angeles for $4,700,000.

A private seller has sold the ± 7,658-square foot medical-office building for approximately $613 per square foot. Located near the corner of Santa Monica Boulevard and S. Barrington Avenue, the highly-visible property occupies ± 8,028-square feet of land. The property sold to an owner-user dermatologist group.

“We have multiple offers on the property,” T.C. Macker, CCIM said. “Ultimately we found the perfect owner-user buyer.”

T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC and Brian Hatkoff of Hatkoff Investments represented both the Buyer and Seller.

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For Sale – Multi-Tenant Creative Offices near Abbot Kinney Blvd & the beach


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exterior

New Listing – A modernized multi-tenant creative office and retail building located at 3007 Washington Blvd is for sale. The property is approximately 11,312 SF on approximately 9,904 SF of land. The building is home to a number of creative offices and retail tenants, and  has recently undergone extensive remodel. The property is located blocks from Abbot Kinney Boulevard, less than one mile from the beach.

For more information, you can download the property brochure HERE.

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For Sale in Beverly Hills – Commercial Building on Robertson Blvd


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New Listing – Located along Robertson Blvd near the corner of Wilshire Blvd is 153-155 S. Robertson, a ± 2,623 square feet commercial building in Beverly Hills. The property is being offered For Sale and vacant. The property is an excellent opportunity for those looking to purchase commercial real estate in a prime retail and office market in Beverly Hills.

For more information, you can download the property brochure HERE.

Commercial Real Estate

For Sale in Los Angeles – Commercial Retail Building Along Venice Boulevard


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New Listing for a 2-unit retail in Los Angeles along Venice Boulevard located at 12820 Venice Boulevard. The property is adjacent Venice, and walking distance to Downtown Mar Vista. Building is currently 100% leased with leases expiring this year. A parking lot is located in the rear of the building.

To find out more info, you can download the property brochure HERE.

Commercial Real Estate

New Listing in West LA: Office/Medical with Billboards Along Santa Monica Blvd


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11669 Santa Monica Boulevard is a unique opportunity for an investor or owner-user looking for a prime medical office building in one of the most desirable urban office and retail markets in the world. Located along the north side of the famous Santa Monica Boulevard one-half block east of South Barrington Avenue, the property consists of a ±7,658-square feet two-story building approximately on ±8,028-square feet of land. The city allows ±1,846 square feet of the building for medical space use. Two billboards on the roof allow for additional income or personal use, while a spacious open-air parking lot located behind the building. 11669 Santa Monica Boulevard is surrounded by various retailers and restaurants with access to plenty of street parking and public transportation.

Find property information and download the property brochure here: 11669 Santa Monica Boulevard

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Q&A with T.C. Macker: How to Stand Out in a Crowded Market


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Want some tips on how to stand out in a crowded market? Click here to read my Q&A session in the latest edition of Commercial Investment Real Estate Magazine.

“I’m very niche-focused,” T.C. Macker, CCIM, says.

In the competitive Los Angeles real estate market,  that focus has proven successful for Macker, president and managing director of Coldwell Banker Commercial WESTMAC. During the past 14 years, he’s earned a consistent string of awards from Coldwell Banker Commercial, and was the company’s second-highest producer in 2016.

The L.A. native started his career as a leasing agent for Grubb & Ellis and joined Coldwell Banker Commercial WESTMAC in 2002. He talked to Commercial Investment Real Estate about how to stand out in a crowded market.

CIRE: How did you get into commercial real estate sales?

Macker: I was burnt out on leasing, and when I joined WESTMAC, I was able to do a sale. Once I did that, I knew selling was what I wanted to do.

But I needed to educate myself; I don’t even think I could calculate cap rate. I took the CI 101 class, and all of the sudden, my calculator became my partner at every meeting. I took all the classes in about a year and earned my CCIM designation.

Today all I do is sales. I’m mostly selling buildings in the $1 million to $20 million range. I’m below the institutional level, although I do sell an institutional building occasionally.

My niche is really sales to high net-worth investors and small funds. I’m geographically focused; my market is West L.A. to downtown for office and retail on major streets – Sunset Boulevard, Wilshire Boulevard, and Santa Monica Boulevard.

Read the rest of the interview here: Q&A with T.C. Macker, CCIM