WESTMAC Commercial Brokerage Company has completed the sale of a prominent property located at 146-150 S Barrington Avenue in Los Angeles, California for $6,250,000. The transaction involved a mixed-use building spanning approximately 6,340 square feet on a 3,769 square foot lot in the heart of Brentwood, a highly sought-after neighborhood in Los Angeles.
The property, which will now be owned by a future owner-user, features retail and restaurant spaces on the ground floor, with office spaces on the second floor. Notably, this building was once home to the iconic Brentwood Lounge, adding historical and cultural significance to the transaction.
T.C. Macker, a key representative at WESTMAC, emphasized the importance of this sale, stating, "This acquisition underscores the growing demand for versatile properties and the ongoing trend of investing in mixed-use buildings within Los Angeles's upscale communities." The property's strategic location and substantial foot traffic make it a valuable asset for the new owners, promising significant returns on their investment.
The seller in this transaction was represented by a team from WESTMAC, including T.C. Macker, CCIM, Christian Holland, and Woody Cook. The buyer was represented by Eric Sackler of Coldwell Banker Commercial.
This sale is indicative of a broader trend in the real estate market, where investors are increasingly drawn to mixed-use properties that offer both commercial and residential opportunities. Such properties are highly versatile, catering to a diverse range of tenants and uses, and are particularly attractive in upscale and high-traffic areas like Brentwood.
The transaction also highlights the expertise of WESTMAC Commercial Brokerage Company in facilitating significant real estate deals. Founded in 1988 by Timothy C. Macker, WESTMAC has established itself as a leading commercial real estate brokerage firm in Los Angeles. The company's professionals specialize in various market niches, including office, industrial, retail, and multi-family properties. WESTMAC's comprehensive services include marketing properties for sale or lease, tenant representation, and consultation for investors, developers, and property owners.
As the demand for mixed-use properties continues to rise, transactions like the sale of 146-150 S Barrington Avenue are likely to become more common. These properties not only meet the needs of a diverse tenant base but also contribute to the vibrancy and economic growth of neighborhoods like Brentwood. Investors and real estate professionals will be closely watching similar opportunities in the Los Angeles area, anticipating continued growth and development in this sector.
