west hollywood

T.C. Macker PR releases

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


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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.

Commercial Real Estate, CRE News

Sold! +/-6,622 SF of Buildings | Retail Storefront & Creative Office


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Sold!

7990-7998 Santa Monica Blvd., West Hollywood, CA 90046

Price:  $4,435,000 ($669/SF on the buildings)

Buildings: ± 6,622 SF

Land Size:  ± 9,458 SF

Closing Date:  12/23/2020

Buyer: West Hollywood RE LLC (represented by T.C. Macker, William Althouse and Jennifer Moscoso – WESTMAC Commercial Brokerage Company)

Seller: 7990 SM, LLC, and Feldberg Family Partnership (represented by T.C. Macker, William Althouse and Jennifer Moscoso – WESTMAC Commercial Brokerage Company)

Notes:

–              2 properties sold together: both vacant at closing

–              First time sale in 50 years!

–              Office and retail use

–              Buyer was in a 1031