LOS ANGELES, CA – 08/24/2017 (PRESS RELEASE JET) — Coldwell Banker Commercial WESTMAC has closed on an off-market sale of 8213-8223 W. 3rd Street. The deal was between private family trusts and comprised of a corner retail property purchased at $9,600,000.
Built in 1988, the 7,237-square foot trophy property houses Toast Bakery Café among other retailers, and sits at the corner of S. Harper Avenue and W. 3rd Street in L.A.’s trendy Beverly Grove neighborhood. The lot totals approximately 9,780-sqaure feet, which is conveniently located ½-mile between several of the city’s popular tourist destinations – The Grove, the Original Farmers Market, and the Beverly Center in adjoining Beverly Hills.
“The Buyer was able to acquire a trophy stable retail property off-market.” T.C. Macker, CCIM said. “Properties are hard to come by on West 3rd Street.”
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the buyer. William B. Althouse of Coldwell Banker Commercial WESTMAC represented the seller.
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.”