COLDWELL BANKER COMMERCIAL WESTMAC ARRANGES $15.75 MILLION SALE OF REDEVELOPMENT PROPERTY IN SANTA MONICA, CA

  SANTA MONICA, CA - 05/31/2016 (PRESS RELEASE JET)

A private seller has sold its Santa Monica unentitled redevelopment property at 1626 Lincoln Boulevard for $15,750,000 to the developer of the former Fred Segal building, 500 Broadway. 

“At a premium of $580 per square foot, that’s the highest price to date for land on Lincoln boulevard,” says T.C. Macker, CCIM. The developer plans to convert their newly purchased 28,070 square foot lot into affordable housing.

T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the Buyer, an institutional developer and Scott Carr of KW Commercial represented the Seller, a private family.   

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.”