Commercial Real Estate

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

New Listing for Sale – 2245-2251 Westwood Blvd in Los Angeles, CA


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WESTMAC Commercial Brokerage Company, as exclusive agents, are pleased to present for sale, 2245-2251 Westwood Boulevard in West Los Angeles. 2245-2251 Westwood Boulevard is situated on one parcel, and is comprised of one single-story retail building, and one two-story mixed-use building.

The retail building, which has 40’ of frontage on Westwood Boulevard, is approximately 1,800 square feet, is currently subdivided into two spaces, but occupied by a single tenant. The mixed-use building is set behind the retail building, separated by 5 tandem parking spaces (10 total).

The mixed-use building is comprised of four units totaling approximately 2,600 square feet. The bottom floor of the building is approximately 1,400 square feet and will be delivered leased (lease pending). The top floor of the building is divided into two residential units (each 1 bedroom, 1 bath) of about 600 square feet each, separated by a main stairway. They are occupied by one long term tenant and one new tenant (lease pending).

The parcel is zoned LAC4 and a TOC (Transit Oriented Communities) Tier 3 which allows for greater development potential for developers looking to build in a revitalizing area. They property is located one-quarter mile from One Westside, the site of a former shopping mall which is being converted into nearly 600,000 square feet of offices, which Google has pre-leased.

2245-2251 Westwood Boulevard offers buyers the opportunity to purchase
on Westwood Boulevard, a street best known for it’s ample retail amenities
within a densely populated part of West Los Angeles.

You can download the property brochure here: 2245-2251 Westwood Ave – OM

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Commercial Real Estate

New Listing for Sale – 2001 Grismer Ave in Burbank, CA


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WESTMAC Commercial Brokerage Company is pleased to present 2001 Grismer Avenue for sale, a 14-unit multi-family asset located in the premiere, family-friendly City of Burbank, CA.

2001 Grismer Avenue is a two-story apartment building comprised of approximately 11,334 square feet situated on approximately 10,895 square feet of land. There is a subterranean parking garage with two dedicated parking spaces per unit
(28 total). The property is zoned R4.

There are a total of 14-units in the building. The building is fully occupied with the exception of one unit, which is currently being rehabbed. The current rents range from $1,750 – $2,090 per month with scheduled increases.

The property is located in Burbank, which is a highly desirable rental market and is known as “the media capital of the world”. It is home to Disney Studios, Warner Brothers, and a number of other large area employers. The city has over 80 restaurants, 30 theaters ,and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to Bob Hope Airport, Burbank Empire Center, Downtown Burbank, and Burbank Metro Link.

2001 Grismer Avenue provides buyers with stable cash flow and a strong long-term hold opportunity in a prime Burbank location.

You can download the property brochure here: 2001 Grismer Ave – OM

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Commercial Real Estate

New Listing for Sale – 1310 Westwood Blvd in Los Angeles, CA


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Keller Williams Realty Westside and WESTMAC Commercial Brokerage Company are pleased to present the sale of 1310 Westwood Boulevard, a ±6,681-square foot freestanding retail/office building situated on a ±6,601-sqaure foot lot located in Southern California’s popular Westwood neighborhood along highly-traveled Westwood Boulevard.

1310 Westwood Boulevard is a two (2) story commercial building located one block south of major Wilshire Boulevard between Rochester Avenue and Wellworth Avenue. The building was built in 1955, with a second floor addition added in 1968. The ground floor features an open floor plan plus one (1) private office. The second floor is composed of five (5) private offices, two (2) restrooms and a break room. The building also features one (1) elevator and a secured parking garage with room for approximately nine (9) cars parked tandem. The property is currently vacant.

The major intersection at Wilshire Boulevard and Westwood Boulevard is located one block North of the subject property. Wilshire Boulevard between Westwood Boulevard and Veteran Avenue is the future site of a Metro’s Purple Line Subway Station. The construction of the Purple Line designates 1310 Westwood Boulevard as a TOC Tier 3 zoned parcel, giving developers potential to build a mixed-use building of 30-units residential over 1,500-SF to 3,000 SF of retail.

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 UCLA students, tourists, and locals.

1310 Westwood is an ideal opportunity for buyers looking to purchase retail, office or developable property in Los Angeles’ affluent and highly coveted Westwood submarket.

You can download the property brochure here: 1310 Westwood Blvd.

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Commercial Real Estate, CRE News

New Listing for Sale – 4047-4051 Lincoln Blvd in Marina Del Rey, CA


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One block away from the heavily trafficked intersection of Washington Boulevard and Lincoln Boulevard, 4047-4051 Lincoln Boulevard is ± 9,467 square foot single story retail/ office (& flex) building on ± 11,280 square feet of land. The property is currently subdivided into four units, one of which is occupied. The property is zoned (Q)LAC4(OX)-2D-CDO, and has eleven (11) striped parking spaces.

Additionally, the underlying land has great future development potential given the zoning and proximity to transit.

The property is just minutes away from Venice and Playa Vista. 4047-4051 Lincoln Boulevard presents an excellent opportunity for investors, developers and owner-users to own in a centralized location of Silicon Beach.

You can download the property brochure here: 4047-4051 Lincoln Blvd – OM (v2)

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Commercial Real Estate

New Listing for Sale in Santa Monica – 4,000 SF Investment Opportunity


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WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire 2028-2030 Montana Avenue in Santa Monica. 2028-2030 Montana Avenue is located in the upscale Montana Shopping District of Santa Monica. 2028-2030 Montana Avenue is situated on two parcels comprising of a single-tenant one-story commercial building approximately 4,000-square feet and a parking lot. The total land size is approximately 8,000-square feet. There are approximately eight (8) parking spaces in the parking lot. The property is zoned residential with a CUP which permits the use of the property as a market (no expiration date).

The tenant is a market called The Farms. The current lease expires November 4, 2028. The monthly triple net (NNN) rent is currently about $14,063 with CPI adjustments each July 1.

Located along Montana Avenue, 2028-2030 Montana Avenue is walking distance to an abundance of high-end retailers, restaurants, and businesses all of which are part of the popular shopping destination known as the “Montana Avenue Shopping District” in the affluent Wilshire Montana neighborhood. 2028-2030 Montana Avenue is also a short 4-block walk to Wilshire Boulevard and minutes from Santa Monica’s bustling tourism industry, including Santa Monica Beach, Santa Monica Pier and Third Street Promenade.

2028-2030 Montana Avenue offers buyers ease of management and stable cash flow along a highly coveted street in one of the most sought after markets in the world.

Download Full Property Brochure Here

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

New Listing For Sale on Wilshire Boulevard in Beverly Hills


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WESTMAC Commercial Brokerage, as exclusive advisor, is pleased to present the sale of 8620 Wilshire Boulevard, a freestanding commercial building in coveted Beverly Hills surrounded by high-end retail, five-star dining establishments, and luxury hotels. Blocks from the heavily traveled intersection of La Cienega Boulevard and Wilshire Boulevard, 8620 Wilshire Boulevard is comprised of one +/- 4,076-square foot single-story building on +/- 5,056-square feet of land nestled mid-block between S. Carson Road and S. Stanley Drive.

Built in 1951, the building offers unique design elements both with indoor and outdoor elements that make this property an architectural gem. The property previously operated as the Phillipe Chow restaurant with build-out that includes an outdoor courtyard, bar area, full kitchen with stainless steel appliances, and four private restrooms. The property is vacant with BHC3* zoning (check with city for allowable uses).

8620 Wilshire Boulevard is in close proximity to world class museums, shopping and dining including the Los Angeles County Museum, Petersen Automotive Museum, the Farmer’s Market, Beverly Connection, Beverly Center and La Cienega Boulevard’s Restaurant Row.

8620 Wilshire Boulevard is an incredible opportunity for buyers looking to purchase a preeminent location in one of the most in demand real estate markets in the world.

DOWNLOAD BROCHURE HERE

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.