WESTMAC Commercial Brokerage Company has arranged the sale of 7990 and 7998 Santa Monica Boulevard in West Hollywood for $4,435,000, or $669 per square foot of buildings.
The sale was comprised of two generational assets on the market for the first time in fifty years. The offering consisted of 7990 Santa Monica Boulevard, a ± 1,740 square foot retail building featuring vaulted ceilings and flexible floor plan, and 7998 Santa Monica Boulevard, a ± 4,882 square foot retail/creative office building with high ceilings, floating mezzanine, rear parking lot, and rooftop billboard. Both properties were vacant at the time of sale.
The properties are located one block east of Crescent Heights Boulevard on the south side of Santa Monica Boulevard, 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 luxury shopping boutiques, and some of the most popular entertainment destinations in the world.
“This was a generational asset which was purchased by a family who I believe will keep it in their family for a few generations themselves. Being part of it is a real feather in our cap, so to speak,” said William Althouse.
T.C. Macker, CCIM, William B. Althouse, and Jennifer Moscoso of WESTMAC Commercial Brokerage Company represented both the Buyer and Seller.
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.”