Closed: December 09, 2021
Santa Monica – WESTMAC Commercial Brokerage Company has arranged the sale of 2425 Wilshire Boulevard in Santa Monica, California for $6,100,000.
An investor has purchased the 3,260 square foot single story restaurant building. The property is occupied by Del Taco who are on a long term NNN ground lease and features a rare drive through for Santa Monica. Cap rate was 3.48%.
“This was a generational purchase opportunity to acquire a trophy single tenant absolute NNN corporate guaranteed ground leased asset located in a premiere part of Santa Monica,” said T.C. Macker, CCIM. “It was ideal for our buyer who was in a 1031-exchange.”
2425 Wilshire Boulevard is located near several popular shopping destinations within the city of Santa Monica.
T.C. Macker, CCIM, Christian C. Holland, Woody Cook, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Buyer. Brandon Michaels and Steven Schecter of Marcus & Millichap represented the Seller.