WESTMAC Commercial Brokerage Company announced the sale of 11570 W. Olympic Boulevard in Los Angeles for $7.2 million, reflecting continued demand for owner-user medical office opportunities in the West LA market. The property, a ±10,724-square-foot medical office building on a ±23,187-square-foot lot, was acquired by White Camden, LLC, an owner-user medical group.
The transaction closed after generating multiple offers, underscoring the competitive nature of the market for well-positioned medical real estate. T.C. Macker, President of WESTMAC, stated, "This transaction reflects continued demand for well-located owner-user opportunities in the West LA market. White Camden, LLC recognized the long-term value of this medical office property, and we are pleased to help facilitate their acquisition of a property that aligns with their vision and business objectives."
T.C. Macker and Woody Cook of WESTMAC Commercial Brokerage Company represented the seller, Nogan LLC. The sale was finalized at $7.2 million, with the buyer acquiring the property outright for its own use. The property's location on Olympic Boulevard in West Los Angeles offers access to a dense residential and commercial area, making it attractive for medical practices seeking to establish or expand their presence.
This sale highlights the ongoing trend of medical groups acquiring their own facilities rather than leasing, a strategy that can provide long-term cost stability and asset appreciation. For the West LA market, the transaction signals strong investor and user demand for medical office space, particularly in areas with limited supply and high barriers to entry. The multiple offers received prior to closing indicate that competition remains fierce for such properties, which could drive further price appreciation in the sector.
WESTMAC Commercial Brokerage Company, founded in 1988 by Timothy C. Macker, is a full-service real estate firm specializing in office, industrial, retail, and multi-family properties. The firm's expertise in representing both buyers and sellers in commercial real estate transactions positions it as a key player in the Los Angeles market.
