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.
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.”