1001 Broxton was part of a 1031 exchange.
LOS ANGELES, CA, June 05, 2024 /24-7PressRelease/ — WESTMAC Commercial Brokerage Company and Beitler Commercial Realty Services have arranged the sale of 1001 Broxton Avenue in Los Angeles, California for $13,500,000.
1001 Broxton Avenue sold to an investor and was part of a 1031 exchange. The building is +/- 17,086 square feet on +/- 9,829 square feet of land in the heart of Los Angeles’ Westwood neighborhood, near UCLA. The property is a free-standing multi-tenant mixed-use building with retail on the ground floor and offices on the second floor. California Pizza Kitchen has been a tenant for over 25 years.
“This transaction is notable within Los Angeles’s real estate market especially given the lower volume of sale transactions,” said Colin Fields. “The CPK building, as it’s commonly known, is an iconic property in Westwood Village. The sale underscores the high demand for versatile real estate in this bustling and prestigious part of Los Angeles.”
T.C. Macker, CCIM, Woody Cook, and Colin Fields of WESTMAC Commercial Brokerage Company, and Willa McNamarra Fields and Jim Burnap of Beitler Commercial Realty Services teamed up to represent the Seller in this transaction. The Buyer represented themselves.
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.”
Related Link:
https://westlacommercial.com
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