United States, California, Los Angeles - 06/19/2019 (PRDistribution.com)
11201-11223 National Boulevard, a highly-visible neighborhood center at the signalized intersection of major thoroughfare Sepulveda Boulevard and National Boulevard in West Los Angeles, has sold for $13,050,000.
11201-11223 National Boulevard is comprised of one ±10,883-square foot building on ±24,400-square feet of land. The site features pylon signage, two income-producing billboards, newsstand, ATM machine, parking lot striped for twenty-five cars, and offers immediate ingress and egress to the 405 Freeway at National Boulevard.
The property was 100% leased with multiple long-term tenants at the time of sale. It sold to a 1031 buyer for $1,204 per square foot at a 5.1% cap rate.
"The lack of quality retail centers on the Westside combined with a strong demand for this kind of property generated extreme interest from investors and 1031 exchange buyers,” said T.C. Macker, CCIM. “We received multiple offer and closed escrow in sixty days.”
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.”