The sale of a prominent downtown Santa Monica property at 1231 4th Street for $3,044,250 by WESTMAC Commercial Brokerage Company marks a significant transaction in the area's commercial real estate sector. The property, a two-story building encompassing approximately 6,270 square feet on a 6,007 square foot lot, was previously home to a yoga studio and boasts high ceilings, multiple office spaces, and rear parking. Its acquisition by an owner-user underscores the desirability of locations near the Third Street Promenade, a hub of retail and entertainment.
T.C. Macker of WESTMAC highlighted the transaction as a unique opportunity for the new owner to enhance the neighborhood's vibrancy. The deal was facilitated by a team including Macker, Willa McNamarra Fields, Mike Rago, Woody Cook, and Colin Fields, with the buyer represented by Grant La Spada and David Toomey of Cushman & Wakefield. This collaboration reflects the intricate nature of commercial real estate transactions and the importance of expert brokerage in achieving successful outcomes.
This transaction not only demonstrates the continued activity in Santa Monica's commercial real estate market but also its resilience and capacity for transformation. The strategic location of the property, combined with its features, makes it a valuable asset for the new owner and a testament to the enduring appeal of urban commercial properties in dynamic markets like Santa Monica.
