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.
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).
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.
Los Angeles – WESTMAC Commercial Brokerage Company has arranged the sale of 8330 Beverly Boulevard in Los Angeles, California for $8,500,000.
An investor has purchased the 15,645 square foot two story multi-tenant retail/office building from a private seller. The building sits on 11,390 square feet of land om a high visibility corner location in Los Angeles’ Beverly Grove neighborhood. The first floor is leased to a mix of retail tenants, including I. Martin Bicycles. The second-floor creative offices were vacant at the time of sale. The second-floor feature high ceilings, skylights, plenty of windows, and a flexible floor plan.
The property sold on December 21, 2021.
T.C. Macker, CCIM, William B. Althouse and Jennifer Moscoso of WESTMAC Commercial Brokerage Company were the brokers on this transaction.
West Hollywood – WESTMAC Commercial Brokerage Company has arranged the sale of 7611 N. Lexington Avenue in West Hollywood, California for $3,200,000.
7611 N. Lexington Avenue is a two-story, 8-unit apartment building in one of the most sought-after rental locations, West Hollywood. The property is comprised of approximately 6,918 square feet of improvements on approximately 6,534 square feet of land with an excellent unit mix of 4 one-bedroom, one-bathroom apartments units and 4 two-bedroom, one-bathroom apartment units. Building amenities include ten parking spaces, community laundry, and storage area. The property sold for $400,000 per unit at 4.0% cap rate, and 16.5 GRM.
“This is a well-kept and low-maintenance property in a highly desirable rental market,” said T.C. Macker. “It made sense for our Buyer who was in a 1031-exchange.”
West Hollywood is known for its premier nightlife, restaurants, retail and its proximity to several employment centers and business services.
T.C. Macker, CCIM, Christian C. Holland, Woody Cook, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Buyer. Katia Miramontes of The Agency represented the Seller.
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.
WESTMAC Commercial Brokerage Company has arranged the sale of 8229 and 8235 Santa Monica Boulevard in West Hollywood for $11,500,000.
The sale was comprised of two separate multi-tenant buildings home to a mix of office and retail tenants. The offering consisted of 8229 Santa Monica Boulevard, a two-story ± 3,584 square foot building on 7,789 square feet of land, and 8235 Santa Monica Boulevard, a ± 18,322 square foot building on 9,826 square feet of land. A shared parking lot with approximately forty-eight spaces is located behind the buildings.
8229 and 8235 Santa Monica Boulevard are situated between Harper and Havenhurst Avenues at the center of a broad range of retail and office amenities that make up the highly traveled, popular Santa Monica Boulevard district. The immediate area is surrounded by affluent neighborhoods, highly sought-after boutique shopping, and some of the most desirable entertainment destinations in the world.
“The Seller received multiple offers within the first week which allowed for a quick closing at an aggressive cap rate,” said T.C. Macker, CCIM. “Under market rents and short-term leases created tremendous upside opportunity for the buyer,” Chris Holland added.
The buildings were sold together to an investor by a private trust.
T.C. Macker, CCIM, Christian C. Holland, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Conor Halloran and Brad McCoy of Lee & Associates Los Angeles West, Inc. represented the Buyer. This is the second sale of the subject properties for the listing team at WESTMAC Commercial Brokerage Company.
Located between Kiowa Avenue and Goshen Avenue, 1115-1121 S. Westgate Avenue features two parcels totaling ±6,900 square feet of land in the highly desirable Brentwood neighborhood with [Q]R3-1 zoning. The lack of developable R3 and R4 zones in LA is one of the biggest roadblocks to constructing new apartments, making this an extraordinary opportunity for savvy developers looking to build multifamily housing development. The former building has been demolished and the lot currently sits vacant. The Seller has submitted plans based on by right development for a four (4) story, eight (8) unit apartment building with one (1) level of subterranean parking. Plans are pending.
The Property’s unbeatable Brentwood location is one of Los Angeles’s most desirable and sought after neighborhoods , combined with a high barriers to entry market, making this a rare development opportunity. The Property is located less than one mile from the VA Greater Los Angeles Healthcare System and has a high walk score of 86. It is also in close proximity to UCLA, Westwood, Santa Monica and The Pacific Palisades. The location provides easy access to both the 405 and 10 freeways and access to many of the best shopping, dining, and museums that Los Angeles has to offer.
Santa Monica, CA – WESTMAC Commercial Brokerage Company has arranged the sale of seven contiguous parcels along Wilshire Boulevard in Santa Monica, California for $31,500,000, or $572 per square foot of land.
Located along an iconic strip of Wilshire Boulevard between 25th Street and 26th Street on the North side of the street in Santa Monica, the sale was comprised of 2501-2525 Wilshire Boulevard, 1143, 1145, 1151 25th Street, and 1142, 1148, 1156-1158 26th Street. The entire sale totaled approximately 55,000 square feet of land (1.27 acres) and consisted of three commercial properties, in addition to four parking lots.
The commercial properties located along Wilshire Boulevard are designated Mixed Use Boulevard (MUB) zoning, while the others are designated as Low Density Residential (LDR) zoning. The property is currently occupied by a small strip center, an office building, and a mixed-use building.
“There are very few properties in Santa Monica that come up as versatile as this, it’s a highly coveted location that hasn’t been on the market in over fifty years,” said T.C. Macker.
T.C. Macker, CCIM of WESTMAC Commercial Brokerage Company was the broker on this transaction.
WESTMAC Commercial Brokerage Company and Petroleum Realty Group are pleased to present the rare opportunity to purchase 1660 S. Sepulveda Boulevard, a service station situated at the northeast corner of Santa Monica Boulevard and S. Sepulveda Boulevard in West Los Angeles. The Station has been a landmark for many years and features the very popular deli & grill called The Corner Deli & Grill. The offering includes the service station, business currently operating as Mobil with more than fourteen (14) years left on the fuel agreement, along with the real estate.
1660 S. Sepulveda Boulevard is comprised of twelve (12) fuel hoses under one (1) canopy, a ± 1,400 square foot C-Store that includes ATM and Bitcoin machines and the much-loved local favorite, The Corner Deli & Grill. There is an income producing billboard located on the property which ownership owns the right away, not the sign. The billboard has a ten (10) year effective NNN lease from 2019. Current rent is $46,200, increase to $48,600 in 2023 and $52,600 in 2026. In addition ownership gets a profit share of 35% of annual adjusted gross advertising revenue. All are situated on approximately 10,466 square feet of land. The land is zoned [Q]C2-1VL-O with a TOC Tier 2 overlay.
The station has four (4) double-walled 10,000 gallon tanks and four (4) new Wayne Ovation 2 Series MPD’s with a Gilbarco Passport POS. The station serves Regular Unleaded, Extra Unleaded, Super Unleaded and Diesel. All pumps have been updated and are EMV compliant.
1660 S. Sepulveda Boulevard is a rare opportunity to purchase a very profitable gas business at a major signalized intersection with no corner competition and easy access to the 405 Freeway. The property comes with a clean phase two. This is an excellent opportunity to purchase a trophy investment in prime West Los Angeles, CA.