Venice Commercial Property Sells for $2.5 Million in Unique Market Transaction
TL;DR
Investor purchased 70 N Venice Boulevard in Venice, CA for $2,500,000, showing strategic advantage in acquiring prime commercial property.
WESTMAC Commercial Brokerage facilitated the sale of 70 N Venice Boulevard, a 2,232 sq ft commercial property on 2,713 sq ft of land.
The sale of 70 N Venice Boulevard brings potential for growth and community development in Venice, contributing to the area's prosperity.
70 N Venice Boulevard is a unique two-story commercial property in the heart of Venice, offering a rare investment opportunity.
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WESTMAC Commercial Brokerage Company has successfully arranged the sale of a distinctive commercial property located at 70 N Venice Boulevard for $2.5 million. The transaction marks the first time this two-story property, situated in a highly desirable neighborhood, has been on the market.
The property, measuring approximately 2,232 square feet on 2,713 square feet of land, is strategically positioned one block from Venice's renowned boardwalk and iconic canals. The sale was completed with an investor active in the local real estate market, highlighting the ongoing investment potential in this vibrant Los Angeles neighborhood.
T.C. Macker, CCIM, and Woody Cook of WESTMAC Commercial Brokerage Company represented the seller, while Arthur Peter and Rafael Padilla of PAR Commercial Brokerage represented the buyer. Macker noted the property's location at the corner of Venice and Pacific presents significant opportunities within the community.
The transaction underscores the continued strength and attractiveness of commercial real estate in unique urban markets like Venice, where location and historical significance can drive investment value. For potential investors and real estate professionals, this sale provides insight into the dynamics of niche property markets in high-demand urban areas.
Curated from 24-7 Press Release
