LOS ANGELES, CA – 11-03-2017 (Press Release Jet) —
Coldwell Banker Commercial WESTMAC has arranged the sale of 2705 Pico Boulevard in Santa Monica for $2,650,000.
An investor in a 1031 exchange has purchased the 4,130-square foot two-structure retail building from a private Trust. The property is home to a single-occupant pre-school on a long-term lease.
“The property sold for a very aggressive cap rate at approximately 2.8%.” T.C. Macker, CCIM said.
The subject property resides along Pico Boulevard, which is home to a vibrant neighborhood full of pedestrian friendly sidewalks and plenty of walkable restaurants and retailers, including Trader Joes and Whole Foods.
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the Seller. Ernie Farhat of Sanjo Investments represented the Buyer.
About Coldwell Banker Commercial
Coldwell Banker Commercial WESTMAC 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. Since 2000, the company has been an affiliate and franchisee of Coldwell Banker Commercial organization tracing its roots back to 1906.
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.”
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