The latest edition of our West LA Newsletter is now available.
COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES $4.7 MILLION SALE OF MEDICAL-OFFICE BUILDING IN WEST LOS ANGELES, CA
Los Angeles – Coldwell Banker Commercial WESTMAC has arranged the sale of 11669 Santa Monica Boulevard in West Los Angeles for $4,700,000.
A private seller has sold the ± 7,658-square foot medical-office building for approximately $613 per square foot. Located near the corner of Santa Monica Boulevard and S. Barrington Avenue, the highly-visible property occupies ± 8,028-square feet of land. The property sold to an owner-user dermatologist group.
“We have multiple offers on the property,” T.C. Macker, CCIM said. “Ultimately we found the perfect owner-user buyer.”
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC and Brian Hatkoff of Hatkoff Investments represented both the Buyer and Seller.
New Listing – Located along Robertson Blvd near the corner of Wilshire Blvd is 153-155 S. Robertson, a ± 2,623 square feet commercial building in Beverly Hills. The property is being offered For Sale and vacant. The property is an excellent opportunity for those looking to purchase commercial real estate in a prime retail and office market in Beverly Hills.
For more information, you can download the property brochure HERE.
New Listing for a 2-unit retail in Los Angeles along Venice Boulevard located at 12820 Venice Boulevard. The property is adjacent Venice, and walking distance to Downtown Mar Vista. Building is currently 100% leased with leases expiring this year. A parking lot is located in the rear of the building.
To find out more info, you can download the property brochure HERE.
11669 Santa Monica Boulevard is a unique opportunity for an investor or owner-user looking for a prime medical office building in one of the most desirable urban office and retail markets in the world. Located along the north side of the famous Santa Monica Boulevard one-half block east of South Barrington Avenue, the property consists of a ±7,658-square feet two-story building approximately on ±8,028-square feet of land. The city allows ±1,846 square feet of the building for medical space use. Two billboards on the roof allow for additional income or personal use, while a spacious open-air parking lot located behind the building. 11669 Santa Monica Boulevard is surrounded by various retailers and restaurants with access to plenty of street parking and public transportation.
Find property information and download the property brochure here: 11669 Santa Monica Boulevard
Want some tips on how to stand out in a crowded market? Click here to read my Q&A session in the latest edition of Commercial Investment Real Estate Magazine.
“I’m very niche-focused,” T.C. Macker, CCIM, says.
In the competitive Los Angeles real estate market, that focus has proven successful for Macker, president and managing director of Coldwell Banker Commercial WESTMAC. During the past 14 years, he’s earned a consistent string of awards from Coldwell Banker Commercial, and was the company’s second-highest producer in 2016.
The L.A. native started his career as a leasing agent for Grubb & Ellis and joined Coldwell Banker Commercial WESTMAC in 2002. He talked to Commercial Investment Real Estate about how to stand out in a crowded market.
CIRE: How did you get into commercial real estate sales?
Macker: I was burnt out on leasing, and when I joined WESTMAC, I was able to do a sale. Once I did that, I knew selling was what I wanted to do.
But I needed to educate myself; I don’t even think I could calculate cap rate. I took the CI 101 class, and all of the sudden, my calculator became my partner at every meeting. I took all the classes in about a year and earned my CCIM designation.
Today all I do is sales. I’m mostly selling buildings in the $1 million to $20 million range. I’m below the institutional level, although I do sell an institutional building occasionally.
My niche is really sales to high net-worth investors and small funds. I’m geographically focused; my market is West L.A. to downtown for office and retail on major streets – Sunset Boulevard, Wilshire Boulevard, and Santa Monica Boulevard.
Read the rest of the interview here: Q&A with T.C. Macker, CCIM
Coldwell Banker Commercial WESTMAC has arranged the sale of 2435 Military Avenue in West Los Angeles for $7,000,000.
A private seller has sold a ±12,336-square foot two-story creative office building located near the corner of Military Avenue and Pico Boulevard. The property sits on ±18,600-square feet of land and was formerly occupied by a reprographics company.
“The property was purchased by 1031-exchange Buyer,” said T.C. Macker, CCIM.
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC, Michael Mikail and Joe Babajian of Rodeo Realty represented both the Seller and Buyer.
Coldwell Banker Commercial WESTMAC has arranged the off-market sale of 2822-2840 Santa Monica Boulevard in Santa Monica for $12,350,000.
A family trust has sold the ±13,752-square foot multi-tenant retail center located at the corner of Yale Street and Santa Monica Boulevard.
“The property sold for less than a 3% cap rate,” T.C. Macker, CCIM said.
T.C. Macker, CCIM and Christian C. Holland of Coldwell Banker Commercial WESTMAC represented both the Seller and Buyer.
7000 South Western Avenue is being offered for sale to an owner-user who understands the revenue potential from event space rental and the club business. Located 2 miles from the under construction Los Angeles Entertainment Center/Stadium in Inglewood, the property is ideally configured as an events and entertainment venue; and offers a reception/coat check area, VIP lounge, bar/food service area and various rooms which could be utilized as offices or as extensions to the venue. The property provides front access from Crenshaw Boulevard and rear access from the large and secure parking lot. There is also enclosed garage space for 4 vehicles. The current use of the property is listed as a club and there is a significant value-add component to the buyer willing to obtain a liquor license (buyer to verify with ABC and the city regarding these matters).
For more information, you can download the property brochure here.
Coldwell Banker Commercial WESTMAC has arranged the sale of 2705 Pico Boulevard in Santa Monica for $2,650,000.
An investor in a 1031 exchange has purchased the 4,130-square foot two-structure retail building from a private Trust. The property is home to a single-occupant pre-school on a long-term lease.
“The property sold for a very aggressive cap rate at approximately 2.8%.” T.C. Macker, CCIM said.
The subject property resides along Pico Boulevard, which is home to a vibrant neighborhood full of pedestrian friendly sidewalks and plenty of walkable restaurants and retailers, including Trader Joes and Whole Foods.
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the Seller. Ernie Farhat of Sanjo Investments represented the Buyer.