West Los Angeles, CA – March 2022, CBM1 completed the sale of a multi-tenant strip center at the major signalized intersection of National Boulevard and Sepulveda Boulevard in West LA.
CBM1 managing principal Geoff Grossman recently completed the sale of a neighborhood retail shopping center at 11201-11223 National Boulevard in prime West Los Angeles. The property traded for $13,100,000.
Situated at the major signalized intersection of National Boulevard and Sepulveda Boulevard, the property includes a 10,883 SQFT retail building on a 24,400 SQFT lot. The center incorporates eight units (seven of which are currently occupied), a newsstand, a Wells Fargo ATM, two income-producing billboards, and a cell tower.
The well-located site is at a 405-freeway off-ramp, adjacent to the 405 and 10 freeway interchange, with clear visibility from both expressways. The property shares the heavily trafficked intersection with a busy Ross Dress For Less store and a Vons + CVS anchored community shopping center.
Mr. Grossman represented the seller, Los Robles Office partners. Paul Brehme of Lee & Associates represented the buyer, a private party purchasing the property in a 1031 exchange.
The result of an off-market deal, the property was sold through a direct relationship between Mr. Grossman and Mr. Brehme. “The property had been off the market since last spring (2021, amid flagging activity),” says CBM1’s Geoff Grossman, adding, “But when Paul inquired about available sites in the area, this center immediately came to mind.”
The transaction’s off-market origins underscore the value of working with a seasoned broker. “Commercial real estate is a very connected industry. And this deal, like so many others, got done because of a professional relationship,” Grossman says in closing.
For more information on this transaction or CBM1 brokerage services, contact Geoff Grossman at 310.299.4224 | geoff@cbm1.com.
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