CRE News

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

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.

Commercial Real Estate, CRE News

New Listing For Sale – Mid Wilshire – Neighborhood Center


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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, CRE News

TC Macker featured in new CBCWorldwide blog post “Upping Your Office Game with Common Areas”


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Upping Your Office Game with Common Areas

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For years, modern and flexible office spaces were the stomping grounds of small, boutique startups and the self-employed creative types. And, while those groups still play a large role in the market, larger and more traditional companies are now beginning to see the benefits of flexible office spaces.

But what, exactly, is a flexible office space? Well, flexible office spaces come in many shapes and sizes (literally). Some are co-working spaces, or rather, offices shared simultaneously be an assortment of individual workers or even small companies. Others are simply a hybrid of different office types, combining cubicles with private offices, and soundproofed rooms with open concept conference spaces.

One thing that nearly all flexible office spaces have in common? Common areas.

Today, businesses are beginning to design office space with these common areas in mind, increasing the overall amount of square footage per employee, when all work settings are taken into account. Or, at least that is the conclusion that architecture and design firm Ted Moudis Associates came to in their recent report, after closely analyzing more than 2 million square feet of their office projects. Many companies are forsaking the traditional office setting and, instead, choosing to expand the selection of alternative common areas to get work done, such as a kitchen or cafe area, a relaxed living room type area, or even secluded quiet zones.

What’s more, designers and planners of office space say that they are seeing this shift across a wide range of industries, giving the trend mass appeal. TC Macker of Coldwell Banker Commercial WESTMAC in Los Angeles says,

“Whereas the focus used to be on more efficient workspaces, today’s employers are realizing the benefits of making offices more attractive by adding in open community spaces, working to choose for themselves how and where they work within the office. And employees and workers are responding.”

A recent study by Coldwell Banker Commercial Affiliates found that, believe it or not, the physical space of an office can actually help to keep staff happier. This study, which polled Younger Millennials (18-29 years old), Older Millennials (30-34), Gen Xers (35-49), and Baby Boomers (50-69), found that workers want both convenience AND a social scene at the office.

Among the top amenities workers are looking for are food courts, on-site restaurants, outdoor patios, and outdoor lounging space. In other words, as workers spend more and more time at work, offices are becoming more of a center for social activity, with workers continuously demonstrating that they want to be able to work in places other than just at their desk.

Open floor plans and common areas can help facilitate collaboration among colleagues and can bolster creativity within the office, but it is also crucial to remember to carve out private spaces throughout the office to provide employees a break from all the buzz throughout the office and to allow for focused working without distractions. As employee preferences continue to shift, it is imperative that office developers and commercial real estate professionals stay on top of the expectations and wants of today’s workforce.

Commercial Real Estate, CRE News

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