CRE News

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


No Comments

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

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


No Comments

Upping Your Office Game with Common Areas

gettyimages-841170186-5b9287e82cc31

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


No Comments
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