WESTMAC Commercial Brokerage Company and Beitler Commercial Realty Services are pleased to present 1723 Cloverfield Boulevard, a rare trophy development, investment, or owner-user opportunity for sale in prime Santa Monica, CA.
The property is comprised of approximately 25,600 SF of office/light industrial building and surface parking lot with ongoing income on approximately 59,169 SF of land (per survey). The land is part of Santa Monica’s Bergamot Transit Village (BTV) zoning.
The property is leased for a 10-year term to a single tenant on a triple net (NNN) basis. Tenant is an accounting firm and uses the building as a company office. There is approximately 5.5 years remaining on their lease. Landlord has the right to cancel the current lease with one (1) year written notice.
WESTMAC Commercial Brokerage Company, as exclusive advisor, is pleased to present the opportunity to purchase 12926 Venice Boulevard, a two-story mixed-use commercial building built in 1954 featuring three (3) ground floor retail units and a second-floor creative office penthouse located in the Venice submarket. The building is fully leased with four (4) NNN tenants.
Situated on the southeast corner of the highly traveled Venice Boulevard at the intersection of Lyceum Avenue, 12926 Venice Boulevard is an approximate 7,968 square foot (6,830 SF per tax record) mixed-use building on approximately 7,998 square feet of land. There is an additional 2,000 square foot rooftop deck which is not included in the square footage. There is parking behind the building with room for approximately nine (9) cars.
The building was recently re-tenanted with three (3) brand new triple net (NNN) tenants for improved tenant synergy and reduce landlord responsibilities. The leases include increases plus options with no prop 13 protection and are all guaranteed (see pages 10-14 for lease abstracts).
WESTMAC Commercial Brokerage Company is pleased to present the sale of 701-715 Pico Boulevard, a +/- 3,804 square foot retail strip located on +/- 5,110 square feet of land at the signalized NEC of 7th Street and Pico Boulevard in Santa Monica, California.
The property is currently occupied by three (3) tenants. All leases are month to month. This is an excellent opportunity for an owner-user or investor looking to purchase commercial property in highly-desirable Santa Monica.
The first class location is 0.5 miles from the Downtown Santa Monica Metro Expo Station at 4th and Colorado and easily accessible from all parts of Los Angeles via Pacific Coast Highway and the I-10 Freeway.
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.
Santa Monica – WESTMAC Commercial Brokerage Company has arranged the sale of 2425 Wilshire Boulevard in Santa Monica, California for $6,100,000.
An investor has purchased the 3,260 square foot single story restaurant building. The property is occupied by Del Taco who are on a long term NNN ground lease and features a rare drive through for Santa Monica. Cap rate was 3.48%.
“This was a generational purchase opportunity to acquire a trophy single tenant absolute NNN corporate guaranteed ground leased asset located in a premiere part of Santa Monica,” said T.C. Macker, CCIM. “It was ideal for our buyer who was in a 1031-exchange.”
2425 Wilshire Boulevard is located near several popular shopping destinations within the city of Santa Monica.
T.C. Macker, CCIM, Christian C. Holland, Woody Cook, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Buyer. Brandon Michaels and Steven Schecter of Marcus & Millichap represented the Seller.
WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire, 1718 20th Street, a 14,480 square foot site featuring a two-story commercial building totaling approximately 7,762 square feet (per tax record) in Santa Monica, CA. The site gives way to a prime redevelopment opportunity with unmatched visibility and excellent access to transit, including the Metro Expo Line, Pacific Coast Highway and the 10 Freeway, in one of the most dynamic office and retail markets in the world. The property currently houses an auto body shop on the first level, four (4) office tenants occupying five (5) suites on the second level and plenty of parking for approximately twenty (20) vehicles.
There is tremendous flexibility for owner-users or savvy investors seeking to redevelop the site. The property falls under Santa Monica’s Industrial Conservation (IC) zoning and can accommodate a variety of uses ranging from creative office, media production and car dealerships to R&D, self-storage and 100% affordable housing. 1718 20th Street is a rare opportunity for buyers looking to position themselves in one of Southern California most iconic and prosperous locales for technology, entertainment, and media.
Asking Price: $14,000,000
Listed by Tobin McAndrews, T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company, |1515 S. Sepulveda Boulevard, Los Angeles, CA 90025 | Company DRE# 01096973 | http://www.westmac.com
WESTMAC Commercial Brokerage Company has arranged the sale of 8229 and 8235 Santa Monica Boulevard in West Hollywood for $11,500,000.
The sale was comprised of two separate multi-tenant buildings home to a mix of office and retail tenants. The offering consisted of 8229 Santa Monica Boulevard, a two-story ± 3,584 square foot building on 7,789 square feet of land, and 8235 Santa Monica Boulevard, a ± 18,322 square foot building on 9,826 square feet of land. A shared parking lot with approximately forty-eight spaces is located behind the buildings.
8229 and 8235 Santa Monica Boulevard are situated between Harper and Havenhurst Avenues at the center of a broad range of retail and office amenities that make up the highly traveled, popular Santa Monica Boulevard district. The immediate area is surrounded by affluent neighborhoods, highly sought-after boutique shopping, and some of the most desirable entertainment destinations in the world.
“The Seller received multiple offers within the first week which allowed for a quick closing at an aggressive cap rate,” said T.C. Macker, CCIM. “Under market rents and short-term leases created tremendous upside opportunity for the buyer,” Chris Holland added.
The buildings were sold together to an investor by a private trust.
T.C. Macker, CCIM, Christian C. Holland, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented the Seller. Conor Halloran and Brad McCoy of Lee & Associates Los Angeles West, Inc. represented the Buyer. This is the second sale of the subject properties for the listing team at WESTMAC Commercial Brokerage Company.