WESTMAC Commercial Brokerage Company has arranged the sale of 700 Santa Monica Boulevard in Santa Monica, CA for $12,500,000.
700 Santa Monica Boulevard, also known as 1407 7th Street, is a double parcel of land on the southeast corner of Santa Monica Boulevard and 7th Street. The sale was comprised of a 10,500 square foot retail strip center situated on approximately 15,000 square feet of land. The site is part of Santa Monica’s Downtown Community Plan and zoned Neighborhood Village, which can allow for mixed-use (retail and apartments), office, medical, restaurant, and other potential uses.
“Double lots like this are extremely rare in this location,” said Christian C. Holland.
The first-class location is in Downtown Santa Monica, blocks from world class shopping, dining, and entertainment including Third Street Promenade, Santa Monica Place, Palisades Park, and the Santa Monica Pier.
The property was sold off market to a developer and closed on February 3, 2022.
Christian C. Holland and T.C. Macker, CCIM of WESTMAC Commercial Brokerage Company were the transaction brokers on this sale.
WESTMAC Commercial Brokerage Company has arranged the sale of 15113 W. Sunset Boulevard in Pacific Palisades, CA for $4,100,000.
Rare retail/office building for sale in Pacific Palisades, CA. The property is comprised of a two-story ± 5,434 SF building on ± 4,498 SF of land and is occupied by multiple retail and small office tenants. The property was sold to an owner-user by a private seller and closed on December 22, 2021.
Positioned on iconic Sunset Boulevard across from the Ralph’s supermarket, 15113 W. Sunset Boulevard is in the heart of affluent Pacific Palisades, central to the area’s best shopping, dining, entertainment, and family-friendly activities, and is walking distance to Caruso’s Palisades Village.
“Properties rarely trade in Pacific Palisades,” said T.C. Macker, CCIM. “We received multiple offers and went into escrow very quickly,” he added.
T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Bradley Keyes of Keyes Real Estate represented the Buyer.
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.
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.
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 has arranged the sale of 8756 Holloway Drive in West Hollywood, California for $4,495,000.
The sale was comprised of a three-level boutique office building totaling approximately 3,000 square feet situated on approximately 1,313 square feet of land. The property is located mid-block just south of Sunset Boulevard, an infamous hub for retail, nightclubs, and iconic entertainment venues that make up the World-Famous Sunset Strip.
The new owner plans to use the building for her business. The property was delivered vacant at the close of escrow.
“Although the building garnered multiple offers, we are thrilled that we were able to achieve $1,498 per square foot in West Hollywood despite a global pandemic,” said T.C. Macker, CCIM.
T.C. Macker, CCIM, William B. Althouse, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Jason Froehlich of Douglas Elliman Commercial represented the Buyer. This is the second sale of 8756 Holloway Drive for the team at WESTMAC Commercial Brokerage Company.
WESTMAC Commercial Brokerage Company has arranged the sale of 400 W. Rosecrans Avenue in Gardena, CA for $5,850,000.
The Property was being sold by Partners Capital, Inc., a privately-owned real estate firm that co-invests with institutions, high net worth individuals, family offices and trusts in value-add real estate. Partners Capital, Inc. and its subsidiaries currently control a real estate portfolio of over one million square feet in California, Nevada, and Arizona. The Buyer was an investor who purchased the property at a 4.8% cap rate.
Located within unincorporated Los Angeles County, 400 W. Rosecrans Avenue is comprised of a 24,698 square foot single-tenant industrially zoned commercial building situated on 43,996 square feet. It is leased to the Los Angeles Homeless Services Authority, a supportive housing service arm for the County of Los Angeles, on a triple net basis with over five years remaining on the term.
T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Mark Schuessler of Newmark represented the Buyer.
10 Huntington Lane is a single-tenant approximately 5,905 square foot building on approximately 63,598 square feet of land. It is currently leased to a BMO Harris Bank branch. The sale was for the absolute net ground lease with five years remaining on the term.
The property is located in Wheeling, Illinois, a northwest suburb of Chicago approximately twenty miles from Downtown and twenty minutes from O’Hare International Airport. The property features over fifty parking spaces and five drive-through lanes.
“We’ve worked with buyers and sellers nationwide, and it’s usually that they want to sell locally and 1031-exchange into a triple net out-of-state,” said T.C. Macker. “In this case, the seller was local to us in California and wanted to sell her triple net asset in Illinois.”
The seller was a private seller. The buyer was an investment company.
T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Wes Koontz of Mid America Real Esate Corporation represented the Buyer. Charles Rutenburg Realty was the Broker of Record.
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.”