A prime commercial property located at 70 N Venice Boulevard in Venice, California, has been sold for $2.5 million, marking a significant transaction in one of Los Angeles' most sought-after neighborhoods. The property's strategic location, just one block from the boardwalk and the iconic Venice canals, coupled with its first-time sale, underscores the unique opportunity it presented to investors.
The transaction was brokered by WESTMAC Commercial Brokerage Company, with T.C. Macker, CCIM, and Woody Cook representing the seller. The buyer, an active local investor, secured the 2,232-square-foot building on a 2,713 square-foot lot, a deal that speaks volumes about the enduring appeal of Venice's commercial real estate.
T.C. Macker highlighted the property's corner location at Venice and Pacific as a key factor in its desirability, pointing to the tremendous potential it holds within the Venice community. This sale not only reflects the vibrant nature of the neighborhood but also the confidence investors have in its continued growth and development.
The involvement of brokers Arthur Peter and Rafael Padilla from PAR Commercial Brokerage, who represented the buyer, further emphasizes the collaborative effort behind this significant transaction. Their expertise facilitated a deal that showcases the dynamic and competitive nature of Venice's commercial real estate market.
WESTMAC Commercial Brokerage Company, established in 1988 and based in Los Angeles, brings over three decades of expertise in commercial real estate services. Their focus on office, industrial, retail, and multi-family property sectors, combined with a team of over 30 professionals, positions them as a key player in facilitating high-value transactions like the sale of the Venice property.
