WESTMAC

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For Sale – Single Tenant NNN Leased Investment Opportunity in Santa Monica, CA – 6.9% Cap Rate

January 27, 2023January 26, 2023By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire 1415 Wilshire Boulevard in Santa Monica, California, a single tenant triple net (NNN) leased retail property located along highly trafficked Wilshire Boulevard, just east of 14th Street. The Property is approximately one (1) mile from Downtown Santa Monica and twenty (20) minutes from Los Angeles International Airport.

Built in 1930, 1415 Wilshire Boulevard is approximately 4,878 square feet of storefront retail building situated on approximately 5,000 square feet of land. The Property falls under Santa Monica’s MUB (Mixed Use Boulevard) zoning within the highly affluent and densely populated Wilshire-Montana neighborhood, where median household income is estimated at $110,000 within a one-mile radius, and average home valued over $1 million.

1415 Wilshire Boulevard is currently leased to a single-tenant, Gloveworx, a premiere training gym and boxing studio, on a triple-net basis. There are 6.5 years remaining on the lease and 3% annual increases. The Initial Term of the Tenant’s lease is set to expire on July 31, 2029, plus one (1) additional five (5) year option to extend.

1415 Wilshire Boulevard is walking distance to an abundance of retailers, including Vons, Rite Aid, Bank of America, Santa Monica UCLA hospital, and many more. It is a 14-minute walk (0.6 mi.) from the Metro E Line (Expo) at the 17th Street / SMC Station stop and features a Walk Score of 92 (Walker’s Paradise).

This is an excellent opportunity for buyers looking for an up-leg property on their 1031-exchange with low to minimal management responsibility.

Download Offering Memorandum Here

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For Sale – Jewel Box Multi-Tenant Creative Office Building – Investment – 7.01% Cap – Brentwood/Westwood

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

WESTMAC Commercial Brokerage company is pleased to present this investment opportunity to acquire a jewel box multi-tenant officer building minutes from UCLA. 520 S. Sepulveda Boulevard is a 23,975 SF (gross per BOMA) office building with a net rentable of 19,812 SF situated on 8,821 SF of land in the Brentwood/Westwood submarket of Los Angeles.

The four-story office building is currently leased to multiple tenants providing an opportunity for investors to collect on-going income. Additionally, the Property offers an ideal creative/office work environment that can accommodate multi or single tenant.

The Property is currently 97.1% leased. There is a parking garage on the ground floor with 22 parking spaces, including two tandem and two ADA spaces, and a lower level with 23 parking spaces (reserved only).

520 Sepulveda offers open courtyard, plentiful parking, and opportunity to boost stream of income through a plug and play cell tower platform, and freeway visible signage.

The Property benefits from prime Westside location surrounded by the highly affluent communities of Bel Air, Brentwood, Westwood, Santa Monica, and Beverly Hills.

Download Offering Memorandum Here

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For Sale or Lease – High Identity Multi-Tenant Office Minutes from LAX and LMU

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

WESTMAC Commercial Brokerage Company is proud to present the opportunity to purchase or lease 7151 W. Manchester Avenue, a highly visible two-story office building located on the three (3) parcels of land in the affluent community of Westchester, minutes from Los Angeles International Airport and Loyola Marymount University.

Built in 1966, and renovated in the mid-2000’s, 7151 W. Manchester Avenue features ± 11,711 square feet of building comprised of two above grade levels (± 8,002 square feet) plus an improved basement level (± 3,709 square feet). The building is situated on a rectangular shaped corner site consisting of three (3), [Q] C2-1-CDO, commercially zoned parcels, or ± 17,981 square feet of land. The site includes a parking lot with 44 parking spaces (22 single spaces & 9 tandem spaces).

The ground floor and portions of the basement are leased to a Chase bank branch and Verizon Wireless in support of a cellular roof antenna. The ± 4,293 square foot second floor is currently vacant. The property is nestled at the northeast corner of Manchester Avenue and Fordham Road, facing the heavily traveled signalized intersection of Lincoln Boulevard with a daily traffic count of over 39,000 CPD. The area is an ideal location surrounded by walkable amenities, including Bristol Farms, LA Fitness, Ralph’s Bank of America, Bowlero, Otis College, Westchester Municipal Center, and much more.

The property’s location is part of Southern California’s Silicon Beach. This region has attracted tech companies ranging from startups to established tech giants, recognizable names like Google and Facebook are neighbors with buzzy startups.

Download Offering Memorandum Here

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For Sale – 11,603 SF Prime Corner Site Adjacent Iconic Venice Sign in Venice Beach, CA

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

WESTMAC Commercial Brokerage Company is pleased to present the exceptional opportunity to acquire 100% fee simple interest in 100 Venice Way, ± 1,118 SF of improvements on ± 11,603 square feet of land with billboard in Venice, California.

Situated just one-block from the world-renowned Venice Boardwalk and the historical Venice sign, the property offers potential to build between 9 and 14 multifamily residential units. This is an excellent opportunity to own prime commercial real estate in one of Southern California’s most visited locales, and one of the most vibrant commercial and residential markets in the country.

100 Venice Way has a Walk Score of 94 (Walker’s Paradise) and is walking distance to dozens of restaurants, shops, and services, including Hotel Erwin, Great White, Eggslut, Venice Market, Tocaya Modern Mexican, and many others. Less than a block from the Site, along Windward, are trendy neighborhood hot spots: Gjusta Grocer, Winston House, Gran Blanco, and Belles Beach House.

Download Offering Memorandum Here

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 $3.7 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

New Listing For Sale – Investor or Developer Opportunity – Three contiguous parcels of land located in West L.A.’s Palms neighborhood

October 6, 2022October 6, 2022By T.C. Macker No Comments

3424, 3428, and 3440 Motor Avenue are three (3) contiguous parcels comprising +/-36,864 square feet of developable land with +/-23,570 square feet of leased existing improvements for sale in Los Angeles’ Palms neighborhood.

Located within Los Angeles’ MU(EC) zone, the site offers in-place income that combine for a projected +/-$675,000 in annual net operating income (+/-$653,000 NOI for 2021). Investors can leverage the existing net cash flow while creating value through entitlement and development of the allowable development options under the Exposition Corridor Neighborhood Transit Plan. All leases include 3% annual increases and expire on December 31, 2023.

This is a rare opportunity to purchase a large transit-oriented, residential mixed-use development opportunity on Los Angeles’ Westside submarket. The location benefits from immediate proximity to the 10 and 405 Freeways, Palms Metro Expo Line Station, as well as proximity to major employers in the surrounding major tech, entertainment and media industries including Sony Pictures Entertainment, Amazon Studios, Apple, Fox Studios, and many more.

Download The Brochure Here

T.C. Macker PR releases

New Listing For Sale – Investor or Owner-User Opportunity – Creative Office, Medical Office, Traditional Office in prime Santa Monica, CA

October 6, 2022October 6, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is pleased to present the sale of 3011 and 3017 Santa Monica Boulevard Located along prime Santa Monica Boulevard. These are two adjacent properties comprised of +/-13,675 SF of buildings on +/-14,400 SF of land. 3011 Santa Monica Boulevard features a single-story medical office and a two-story triplex. 3017 Santa Monica Boulevard features a three-story office building that can accommodate single or multi-tenant occupancy and is currently leased to several small office tenants, a majority who are month-to-month. There is on-site parking and garages.

This is an excellent opportunity for an investor or owner-user looking for prime Santa Monica commercial real estate in one of Southern California’s premiere urban markets.

Download The Brochure

T.C. Macker PR releases

New Listing For Sale – Investor Opportunity – Two unit retail Murrieta Plaza – 100% leased – located along a prime commercial corridor in Murrieta, CA.

August 19, 2022By T.C. Macker No Comments

A Realty Partners and WESTMAC Commercial Brokerage Company are pleased to present the opportunity to purchase 40516 Murrieta Hot Springs Road, a two-unit 24,647 square foot retail building on 108,900 square feet of land prominently located along I-215 within the Murrieta Plaza in the City of Murrieta, Riverside County, California. This is an attractive investment that provides potential purchasers with a secure and stable cash flow.

40516 Murrieta Hot Springs Road is leased to Harbor Freight Tools and Sola Salon Studios. There are approximately five (5) and six (6) years left on the original leases. Harbor Freight occupies 16,948 SF or approximately 71.2% of the property and has six (6) years left on their original term, which expires in 2028. They have six (6) x Five (5) Year Options to Extend with 10% increases at the start of each option period. Sola occupies 7,699 SF or 28.8% of the property and has just under five (5) years left on their original term, which expires in 2027. They have four (4) x Five (5) Year Options to Extend with 2.5% annual increases that includes option periods.

The property is part of Murrieta Plaza, a 300,000+ SF Neighborhood Retail Center owned by The Kroenke Company. Other national tenants in the center include Sam’s Club, Walgreens, Wendy’s, El Pollo Loco, H&R Block, and Buffalo Wild Wings. The Harbor Freight Tools building enjoys a prime location in the center with clear visibility from I-215. This is an excellent opportunity to purchase a trophy investment in prime Murrieta, CA.

Download the Brochure Here

T.C. Macker PR releases

New Listing For Sale – Investor Opportunity – Two story mixed use Commercial Building – All tenants are MTM – Located in the rarely traded Malibu, CA.

August 19, 2022August 19, 2022By T.C. Macker No Comments

WESTMAC Commercial Brokerage Company is pleased to present the sale of 21247 Pacific Coast Highway, a two-story +/- 6,830 square foot mixed-use on +/- 11,306 square feet of land.

All Tenants are MTM. This is an excellent opportunity for those looking for potential improvement of cash flow through redevelopment or well-suited for an owner-user seeking to position themselves in one of the most exclusive and rarely traded cities in the world.

Located on the North side of Pacific Coast Highway, the building sits on two (2) parcels and falls within Malibu’s Commercial Neighborhood (CN) zoning. The ground floor retail space is occupied by A&B Malibu Plumbing. The second floor has two (2) non-retail units that are currently being subleased to two (2) tenants. All tenants are month to month. The property is being sold in “AS-IS” condition.

Surrounded by some of the city’s most luxurious homes and iconic restaurants, 21247 Pacific Coast Highway sits at the pinnacle of real estate locale and desirability. The property is a short distance to the major intersection at Las Flores Canyon Rd and Pacific Coast Highway. Immediate area amenities include Country Kitchen, Malibu Divers, Mobil, La Costa Beach, and the iconic Duke’s Malibu.

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