WESTMAC Commercial Brokerage Company announced the sale of 11570 W. Olympic Boulevard, Los Angeles, CA 90064, for $7,200,000. The buyer, White Camden, LLC, an owner-user medical group, acquired the ±10,724-square-foot medical office building situated on a ±23,187-square-foot lot. The property generated multiple offers prior to closing, underscoring the competitive nature of the West Los Angeles commercial real estate market.
“This transaction reflects continued demand for well-located owner-user opportunities in the West LA market. White Camden, LLC recognized the long-term value of this medical office property, and we are pleased to help facilitate their acquisition of a property that aligns with their vision and business objectives,” said T.C. Macker, President of WESTMAC. T.C. Macker and Woody Cook of WESTMAC Commercial Brokerage Company represented the Seller, Nogan LLC, in the transaction.
The sale of this medical office building is significant as it demonstrates the enduring appeal of owner-user properties in prime locations. Owner-users, such as medical groups, often seek properties that allow them to control their occupancy costs and benefit from property appreciation. The multiple offers received prior to closing indicate a robust demand for such assets, particularly in the West Los Angeles submarket, which is known for its high barriers to entry and strong demographics.
WESTMAC Commercial Brokerage Company, founded in 1988 by Timothy C. Macker, is a Los Angeles-based full-service commercial real estate brokerage firm. The firm provides consultation, advisory, and marketing services to property owners, users, developers, and investors. Specializing in office, industrial, retail, and multi-family properties, WESTMAC offers exclusive marketing of for-sale and for-lease properties, tenant representation, and consultation on disposition or acquisition of commercial property. More information about WESTMAC can be found at https://www.westmac.com.
The transaction highlights the ongoing trend of medical professionals and groups seeking to own their facilities, a strategy that provides stability and potential long-term financial benefits. As the healthcare industry continues to evolve, the demand for medical office space in desirable urban locations like West Los Angeles is expected to remain strong. WESTMAC's role in facilitating this sale underscores its expertise in navigating complex transactions and meeting the needs of both sellers and buyers in the commercial real estate market.
