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CRE News, T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES SALE OF TRIPLE NET LEASED RESTAURANT IN SANTA MONICA, CA


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PROPERTY CLOSED ON AUGUST 20, 2021

WESTMAC Commercial Brokerage Company has arranged the sale of 3221 Pico Boulevard in Santa Monica, California for $1,679,888.

An investor has purchased the 2,250 square foot single story restaurant building from a private Trust. The property is leased to a Vietnamese noodle bar, Viet Noodle. Cap rate was 5.6%.

“Once the mask mandate was lifted for indoor dining, the activity spiked and we garnered multiple offers shortly thereafter; and ultimately, selling to a 1031 exchange buyer,” said T.C. Macker, CCIM.

3221 Pico Boulevard is in an excellent Santa Monica location bordering West Los Angeles with easy access to the 10 and 405 freeways. The immediate area is home to a vibrant neighborhood full of pedestrian friendly sidewalks and plenty of walkable restaurants and retailers, including Trader Joes, Whole Foods 365, and The Upper West.

T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. George Gross of Coldwell Banker Commercial NRT represented the Buyer.

Commercial Real Estate

New Listing |For Sale | Gardena NNN Industrial Investment Opportunity | Government Credit


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WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire 400 W Rosecrans Avenue in West Rancho Dominguez (Gardena). 400 W Rosecrans Avenue is situated on one parcel, zoned LACM2, comprising of a single-tenant one-story commercial building approximately 24,698-square feet. The total land size is approximately 43,996-square feet (± 1 acre). There are approximately fifty-one [51] spaces in the parking lot. The tenant’s business is supportive housing services, DBA Los Angeles Homeless Services Authority. The recently signed lease expires September 30, 2026. The monthly triple net (NNN) rent is currently about $23.403.82 with 3% increases each October 1st. Located within unincorporated Los Angeles County, 400 W Rosecrans Avenue is close to the 110 Freeway, the Port of Los Angeles, and Los Angeles International Airport.

400 W Rosecrans Avenue offers investors ease of management and stable cash flow with a very strong government tenant paying all expenses and requiring no landlord responsibilities.

This industrial property provides a great investment opportunity as industrial rents are projected to grow over 41% over next 5 years according to CBRE Market Research Report Q2 2020. 400 W Rosecrans is the perfect 1031 property in very tightly constrained market.

The unbeatable location is easily accessible by public transportation. Gardena’s neighboring cities include Torrance, Lawndale, Hawthorne, Redondo Beach and Carson. With strong growth projected and a focus on two major Development Corridors (the Artesia and Rosecrans Corridor), Gardena is an ideal location that offers businesses a competitive advantage. Consumer spending surveys demonstrate $2.3 and $3 billion for each of the Development Corridors and major city arterials.

Download Offer Memorandum here for more information.

Commercial Real Estate

For Sale – NNN Bank of America in GA – Ground Lease


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3026 & 3040 Panola Road is a single tenant, NNN leased investment located in the suburbs of Atlanta.

The offering is a free-standing building situated in Lithonia, Georgia, which is approximately 15 miles east of the City of Atlanta. The building is approximately 4,500-square feet and sits on a roughly 1.255-acre lot made up of two parcels of land.

The property is currently leased by long-term tenant Bank of America, and is strategically located among several shopping plazas that include powerhouse retailers such as Wal-Mart, Lowe’s and Publix supermarket.

The offering is an excellent opportunity for buyers seeking a well-located, stable, long-term leased investment.

More info here.

Commercial Real Estate

New Listing for Sale – NNN Leased Investment – Bank of America in Metropolitan Atlanta


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Coldwell Banker Commercial WESTMAC is pleased to present the sale of 3026 & 3040 Panola Road, a single tenant, NNN leased investment located in the suburbs of Atlanta.

The offering is a free-standing building situated in Lithonia, Georgia, a picturesque metropolitan area approximately 15 miles east of the City of Atlanta. The building is approximately 4,500-square feet and sits on a roughly 1.255-acre lot made up of two parcels of land.

The property is currently leased by long-term tenant Bank of America, and is strategically located among several shopping plazas that include powerhouse retailers such as Walmart, Lowe’s and Publix supermarket.

The offering is an excellent opportunity for buyers seeking a well-located, stable, long-term leased investment.

You can download property brochure here.