February 2, 2021
Los Angeles – WESTMAC Commercial Brokerage Company has arranged the sale of 10507-10511 W. Pico Boulevard in the Rancho Park neighborhood of Los Angeles for $3,450,000, or $597 per square foot.
10507-10511 W. Pico Boulevard is a two-story ± 5,772 square foot mixed use situated on ± 4,633 square feet of land. Built in 1981 and renovated in 2019, the building consists of two ground-floor retail and a second-floor office. The property features multiple skylights and balconies, mezzanine level, rear parking lot with room for five to seven cars, and excellent visibility along Pico Boulevard, a major Los Angeles thoroughfare that runs from the Pacific Ocean to Downtown Los Angeles. The building was 100% vacant at the time of sale.
Located one block West of Beverly Glen Boulevard, the property is close to ample shopping, dining, and entertainment amenities; major area employers include Google’s future Silicon Beach headquarters at the former Westside Pavilion, UCLA in Westwood, Century City, and Fox Studios.
“West Los Angeles is a highly desirable area for commerce,” said T.C. Macker, CCIM. “A great fit for the buyer who purchased the building as an owner-user.”
The buyer was in a 1031 exchange and plans to occupy the office and lease out the ground-floor retail spaces.
T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company were the transaction representatives for this deal.
About WESTMAC Commercial Brokerage Company
WESTMAC Commercial Brokerage Company is a Los Angeles based commercial real estate brokerage firm founded in 1988 by one of L.A.’s most recognized commercial real estate brokers Timothy C. Macker. Our firm is a full-service real estate company that provides exemplary consultation, advisory and marketing services to property owners, users, developers and investors. From 2001 until 2018, the company was affiliated and a franchisee of Coldwell Banker Commercial before returning to its roots, as WESTMAC Commercial Brokerage Company.
Our 30+ professionals specialize in four distinct market niches: office, industrial, retail and multi-family properties. Among the primary services the firm provides are exclusive marketing of both for-sale and for-lease properties, representation of tenants seeking to lease commercial space, and consultation to real estate investors, developers and owners on the disposition or acquisition of commercial property.
Our standard is “The client’s best interest must be the guiding force behind all services.”
