WESTMAC Brokers $3 Million Commercial Property Sale in Santa Monica
TL;DR
Buyer acquired 1231 4th Street in Santa Monica for $3,044,250, seizing a prime investment opportunity.
WESTMAC Commercial Brokerage Company facilitated the sale of a 6,270 sq ft building on a 6,007 sq ft land.
New owner's transformation of former yoga studio at 1231 4th Street promises revitalization to downtown Santa Monica.
Former yoga studio turned commercial property sale showcases dynamic evolution in Santa Monica real estate market.
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WESTMAC Commercial Brokerage Company has successfully arranged the sale of a two-story commercial property located at 1231 4th Street in Downtown Santa Monica for $3,044,250. The property, situated one block from the Third Street Promenade, spans approximately 6,270 square feet on 6,007 square feet of land.
The building, previously used as a yoga studio, features high ceilings, multiple office spaces, and rear parking. An owner-user purchased the property, signaling potential for new business development or transformation in the vibrant downtown area.
T.C. Macker, a principal at WESTMAC, highlighted the transaction's significance, noting the opportunity for the new owner to contribute to the neighborhood's dynamic landscape. The sale was facilitated by a team of brokers including T.C. Macker, Willa McNamarra Fields, Mike Rago, Woody Cook, and Colin Fields, with the buyer represented by Grant La Spada and David Toomey of Cushman & Wakefield.
The sale represents a strategic real estate transaction in Santa Monica's competitive commercial property market, reflecting ongoing investment and potential economic revitalization in the area's urban core.
Curated from 24-7 Press Release
