sold properties

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $6.3 MILLION SALE OF OFFICE IN WEST LOS ANGELES, CA

January 26, 2023By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company has arranged the sale of 2930 Westwood Boulevard in West Los Angeles for $6,300,000, or $897 per square foot.

2390 Westwood Boulevard is a two-story office building approximately 7,020 square feet situated on approximately 11,433 square feet of land, north of National Boulevard along Westwood Boulevard, in West Los Angeles, CA. Built in 1969, the building features exposed ductwork, polished concrete flooring, brick walls, and eight office suites. The second floor is clear span, offering the Buyer flexibility to maintain or re-imagine a new office space. There is a rear parking lot that has twenty-four parking stalls, or twenty-five stalls with two (2) tandems. A parking ratio of approximately 3.5:1000 is rare for a small West L.A. office building.

“The Seller received multiple offers and accepted an offer over asking,” said T.C. Macker, CCIM. “That’s rare for an office building given the current economic climate,” he added.

The Property sold to a private law firm who plans to occupy the building and closed on December 12, 2022.

George Gleason of LA Realty Partners, T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Greg Eckhardt of Par Commercial represented the Buyer.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $3.15 MILLION SALE OF COMMERCIAL PROPERTY IN WEST L.A.

January 26, 2023By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company has arranged the sale of 11821 W. Pico Boulevard in West Los Angeles for $3,150,000, or $700 per square foot.

11821 W. Pico Boulevard is approximately 4,500 square feet of retail/office/flex situated on approximately 5,500 square feet of land. Built in 1956, the building consists of a single-story and offers one ground-level loading door, rooftop income-producing billboard, up to six parking spaces, 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.

“West Los Angeles is a highly desirable area for commerce,” said Brian R. Hart. “A great fit for the buyer who purchased the building as an owner-user.”

Brian R. Hart and T.C. Macker, CCIM of WESTMAC Commercial Brokerage Company represented the Seller. Adam Zarnegin of Scale Partners RE represented the Buyer.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $3.7 MILLION SALE OF VET HOSPITAL IN SANTA MONICA, CA

October 18, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company arranged the sale of 1708 17th Street, 1624 Olympic Blvd, and 1620 Olympic Blvd, in Santa Monica CA for $3,700,000 or $1,251 per square foot on October 12, 2022.

The Property is comprised of three (3) structures totaling ± 2,957 of buildings on ± 7,495 SF of land and was owned and operated by the Jones Animal Hospital, a veterinarian and pet hospital and has served the West Los Angeles and Santa Monica area since 1981. The land was made up of 3 parcels and gives way to unmatched visibility and excellent access to transit, including the 10 Freeway, Metro’s 17th Street / SMC (Santa Monica College) expo line station, and Pacific Coast Highway.

The Property sold to an owner-user who plans to continue to operate the site as a veterinarian business.

“The Sellers wished to sell to another DVM and we were thrilled to find a buyer who can continue the legacy Dr. Kenneth Jones started,” said T.C. Macker, CCIM.

The Property is part of California’s booming tech and media industries known as Silicon Beach, where established companies like Google, Facebook Activision, Snap Inc., and many others have key offices. The property is also surrounded by a high volume of entertainment companies and media studios.

T.C. Macker and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Amjed Manasrah of Global Realty Capital, Inc represented the Buyer.

1708 17th St., 1620 & 1624 Olympic Blvd., Santa Monica, CA 90404

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $12.5 MILLION SALE OF RETAIL STRIP CENTER IN SANTA MONICA, CA

February 8, 2022By T.C. Macker No Comments

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.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $4.1 MILLION SALE OF MIXED USE IN PACIFIC PALISADES, CA

January 12, 2022February 7, 2022By T.C. Macker No Comments

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.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $8.5 MILLION SALE OF MIXED-USE IN LOS ANGELES, CA

January 11, 2022February 7, 2022By T.C. Macker No Comments

January 11, 2022

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.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $3.2 MILLION SALE OF MULTIFAMILY PROPERTY IN WEST HOLLYWOOD, CA

December 15, 2021By T.C. Macker No Comments

Closed: December 10, 2021

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.

T.C. Macker PR releases

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

August 25, 2021By T.C. Macker No Comments

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.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $31.5 MILLION SALE OF PRIME BLOCK-TO-BLOCK PARCELS AT INTERSECTION OF 26TH STREET AND WILSHIRE BOULEVARD IN SANTA MONICA, CA

July 20, 2021By T.C. Macker No Comments

Closed on July 15, 2021

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.

T.C. Macker PR releases

WESTMAC COMMERCIAL BROKERAGE COMPANY ARRANGES $4.495 MILLION SALE OF HIGH-PROFILE OFFICE BUILDING IN WEST HOLLYWOOD, CA

March 30, 2021By T.C. Macker No Comments

March 29, 2021

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.

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