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For Sale – Single Tenant NNN Leased Investment Opportunity in Santa Monica, CA – 6.9% Cap Rate

January 27, 2023January 26, 2023By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire 1415 Wilshire Boulevard in Santa Monica, California, a single tenant triple net (NNN) leased retail property located along highly trafficked Wilshire Boulevard, just east of 14th Street. The Property is approximately one (1) mile from Downtown Santa Monica and twenty (20) minutes from Los Angeles International Airport.

Built in 1930, 1415 Wilshire Boulevard is approximately 4,878 square feet of storefront retail building situated on approximately 5,000 square feet of land. The Property falls under Santa Monica’s MUB (Mixed Use Boulevard) zoning within the highly affluent and densely populated Wilshire-Montana neighborhood, where median household income is estimated at $110,000 within a one-mile radius, and average home valued over $1 million.

1415 Wilshire Boulevard is currently leased to a single-tenant, Gloveworx, a premiere training gym and boxing studio, on a triple-net basis. There are 6.5 years remaining on the lease and 3% annual increases. The Initial Term of the Tenant’s lease is set to expire on July 31, 2029, plus one (1) additional five (5) year option to extend.

1415 Wilshire Boulevard is walking distance to an abundance of retailers, including Vons, Rite Aid, Bank of America, Santa Monica UCLA hospital, and many more. It is a 14-minute walk (0.6 mi.) from the Metro E Line (Expo) at the 17th Street / SMC Station stop and features a Walk Score of 92 (Walker’s Paradise).

This is an excellent opportunity for buyers looking for an up-leg property on their 1031-exchange with low to minimal management responsibility.

Download Offering Memorandum Here

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For Sale – Jewel Box Multi-Tenant Creative Office Building – Investment – 7.01% Cap – Brentwood/Westwood

January 26, 2023January 26, 2023By T.C. Macker No Comments

WESTMAC Commercial Brokerage company is pleased to present this investment opportunity to acquire a jewel box multi-tenant officer building minutes from UCLA. 520 S. Sepulveda Boulevard is a 23,975 SF (gross per BOMA) office building with a net rentable of 19,812 SF situated on 8,821 SF of land in the Brentwood/Westwood submarket of Los Angeles.

The four-story office building is currently leased to multiple tenants providing an opportunity for investors to collect on-going income. Additionally, the Property offers an ideal creative/office work environment that can accommodate multi or single tenant.

The Property is currently 97.1% leased. There is a parking garage on the ground floor with 22 parking spaces, including two tandem and two ADA spaces, and a lower level with 23 parking spaces (reserved only).

520 Sepulveda offers open courtyard, plentiful parking, and opportunity to boost stream of income through a plug and play cell tower platform, and freeway visible signage.

The Property benefits from prime Westside location surrounded by the highly affluent communities of Bel Air, Brentwood, Westwood, Santa Monica, and Beverly Hills.

Download Offering Memorandum Here

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For Sale or Lease – High Identity Multi-Tenant Office Minutes from LAX and LMU

January 26, 2023By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is proud to present the opportunity to purchase or lease 7151 W. Manchester Avenue, a highly visible two-story office building located on the three (3) parcels of land in the affluent community of Westchester, minutes from Los Angeles International Airport and Loyola Marymount University.

Built in 1966, and renovated in the mid-2000’s, 7151 W. Manchester Avenue features ± 11,711 square feet of building comprised of two above grade levels (± 8,002 square feet) plus an improved basement level (± 3,709 square feet). The building is situated on a rectangular shaped corner site consisting of three (3), [Q] C2-1-CDO, commercially zoned parcels, or ± 17,981 square feet of land. The site includes a parking lot with 44 parking spaces (22 single spaces & 9 tandem spaces).

The ground floor and portions of the basement are leased to a Chase bank branch and Verizon Wireless in support of a cellular roof antenna. The ± 4,293 square foot second floor is currently vacant. The property is nestled at the northeast corner of Manchester Avenue and Fordham Road, facing the heavily traveled signalized intersection of Lincoln Boulevard with a daily traffic count of over 39,000 CPD. The area is an ideal location surrounded by walkable amenities, including Bristol Farms, LA Fitness, Ralph’s Bank of America, Bowlero, Otis College, Westchester Municipal Center, and much more.

The property’s location is part of Southern California’s Silicon Beach. This region has attracted tech companies ranging from startups to established tech giants, recognizable names like Google and Facebook are neighbors with buzzy startups.

Download Offering Memorandum Here

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $6.3 MILLION SALE OF OFFICE IN WEST LOS ANGELES, CA

January 26, 2023By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company has arranged the sale of 2930 Westwood Boulevard in West Los Angeles for $6,300,000, or $897 per square foot.

2390 Westwood Boulevard is a two-story office building approximately 7,020 square feet situated on approximately 11,433 square feet of land, north of National Boulevard along Westwood Boulevard, in West Los Angeles, CA. Built in 1969, the building features exposed ductwork, polished concrete flooring, brick walls, and eight office suites. The second floor is clear span, offering the Buyer flexibility to maintain or re-imagine a new office space. There is a rear parking lot that has twenty-four parking stalls, or twenty-five stalls with two (2) tandems. A parking ratio of approximately 3.5:1000 is rare for a small West L.A. office building.

“The Seller received multiple offers and accepted an offer over asking,” said T.C. Macker, CCIM. “That’s rare for an office building given the current economic climate,” he added.

The Property sold to a private law firm who plans to occupy the building and closed on December 12, 2022.

George Gleason of LA Realty Partners, T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Greg Eckhardt of Par Commercial represented the Buyer.

T.C. Macker PR releases

New Listing For Sale – Investor or Owner-User Opportunity – Creative Office, Medical Office, Traditional Office in prime Santa Monica, CA

October 6, 2022October 6, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is pleased to present the sale of 3011 and 3017 Santa Monica Boulevard Located along prime Santa Monica Boulevard. These are two adjacent properties comprised of +/-13,675 SF of buildings on +/-14,400 SF of land. 3011 Santa Monica Boulevard features a single-story medical office and a two-story triplex. 3017 Santa Monica Boulevard features a three-story office building that can accommodate single or multi-tenant occupancy and is currently leased to several small office tenants, a majority who are month-to-month. There is on-site parking and garages.

This is an excellent opportunity for an investor or owner-user looking for prime Santa Monica commercial real estate in one of Southern California’s premiere urban markets.

Download The Brochure

T.C. Macker PR releases

New Listing For Sale – Investor Opportunity – Two story mixed use Commercial Building – All tenants are MTM – Located in the rarely traded Malibu, CA.

August 19, 2022August 19, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is pleased to present the sale of 21247 Pacific Coast Highway, a two-story +/- 6,830 square foot mixed-use on +/- 11,306 square feet of land.

All Tenants are MTM. This is an excellent opportunity for those looking for potential improvement of cash flow through redevelopment or well-suited for an owner-user seeking to position themselves in one of the most exclusive and rarely traded cities in the world.

Located on the North side of Pacific Coast Highway, the building sits on two (2) parcels and falls within Malibu’s Commercial Neighborhood (CN) zoning. The ground floor retail space is occupied by A&B Malibu Plumbing. The second floor has two (2) non-retail units that are currently being subleased to two (2) tenants. All tenants are month to month. The property is being sold in “AS-IS” condition.

Surrounded by some of the city’s most luxurious homes and iconic restaurants, 21247 Pacific Coast Highway sits at the pinnacle of real estate locale and desirability. The property is a short distance to the major intersection at Las Flores Canyon Rd and Pacific Coast Highway. Immediate area amenities include Country Kitchen, Malibu Divers, Mobil, La Costa Beach, and the iconic Duke’s Malibu.

Click Here to Download Property Brochure

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $2.4 MILLION SALE OF HARD CORNER RETAIL NEAR LAX IN LOS ANGELES, CA

July 19, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company Arranged the sale of 6200 Manchester Avenue, in Los Angeles, California for $2,448,000, or $575 per square foot.

Built in 1948, 6200 W. Manchester Avenue is a ± 4,254 square foot retail building situated on ± 6,129 square feet of land at the signalized intersection of Manchester Avenue and Truxton. The property is in the Westchester Triangle Commercial Historic District, a small historic district with prominent storefronts in the Commercial Vernacular style.

The building features two retail units, display windows, stone brick cladding, and projecting blade signage. One unit was vacant at the time of sale. The property sold to a private investor and closed on July 14, 2022.

“We had a lot of interested parties that are attracted to the changing landscape, unmatched exposure, and proximity to ample amenities,” said T.C. Macker, CCIM.

The South Bay region, where the property is located, has been a hotbed for buyer activity, thanks to increasing demand from healthcare, biotech, e-commerce, & life science industries, and its proximity to LAX and the Port of Los Angeles.

Bill Ukropina of Coldwell Banker Commercial and T.C. Macker of WESTMAC Commercial Brokerage Company represented the Seller. Scott Rosenberg of Kidder Mathews represented the Buyer.

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New Listing For Sale – Investor or Owner User Opportunity – Executive Office, Medical Office, Traditional Office in Santa Monica, CA

June 21, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company and Beitler Commercial Realty Services are pleased to present 1723 Cloverfield Boulevard, a rare trophy development, investment, or owner-user opportunity for sale in prime Santa Monica, CA.

The property is comprised of approximately 25,600 SF of office/light industrial building and surface parking lot with ongoing income on approximately 59,169 SF of land (per survey). The land is part of Santa Monica’s Bergamot Transit Village (BTV) zoning.

The property is leased for a 10-year term to a single tenant on a triple net (NNN) basis. Tenant is an accounting firm and uses the building as a company office. There is approximately 5.5 years remaining on their lease. Landlord has the right to cancel the current lease with one (1) year written notice.

Please download the Sale Teaser For More Information

Download Full Offering Memorandum at www.1723cloverfield.com

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New Listing For Sale – Investor Opportunity – Two story mixed use Commercial Building – New Incoming Tenants are all NNN – Located in the Venice Submarket

June 21, 2022June 21, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company, as exclusive advisor, is pleased to present the opportunity to purchase 12926 Venice Boulevard, a two-story mixed-use commercial building built in 1954 featuring three (3) ground floor retail units and a second-floor creative office penthouse located in the Venice submarket. The building is fully leased with four (4) NNN tenants.

Situated on the southeast corner of the highly traveled Venice Boulevard at the intersection of Lyceum Avenue, 12926 Venice Boulevard is an approximate 7,968 square foot (6,830 SF per tax record) mixed-use building on approximately 7,998 square feet of land. There is an additional 2,000 square foot rooftop deck which is not included in the square footage. There is parking behind the building with room for approximately nine (9) cars.

The building was recently re-tenanted with three (3) brand new triple net (NNN) tenants for improved tenant synergy and reduce landlord responsibilities. The leases include increases plus options with no prop 13 protection and are all guaranteed (see pages 10-14 for lease abstracts).

Click Here To Download Property Brochure

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New Listing For Sale – Owner User or Investor Opportunity – Retail Strip Center in Santa Monica, CA

June 20, 2022June 20, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is pleased to present the sale of 701-715 Pico Boulevard, a +/- 3,804 square foot retail strip located on +/- 5,110 square feet of land at the signalized NEC of 7th Street and Pico Boulevard in Santa Monica, California.

The property is currently occupied by three (3) tenants. All leases are month to month. This is an excellent opportunity for an owner-user or investor looking to purchase commercial property in highly-desirable Santa Monica.

The first class location is 0.5 miles from the Downtown Santa Monica Metro Expo Station at 4th and Colorado and easily accessible from all parts of Los Angeles via Pacific Coast Highway and the I-10 Freeway.

Click Here to Download Property Brochure

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