WESTMAC Commercial Brokerage Facilitates $7 Million Santa Monica Property Sale, Signaling Potential Urban Development

A significant real estate transaction in Santa Monica may signal ongoing investment and potential urban housing development in the area. WESTMAC Commercial Brokerage Company has successfully arranged the sale of a prominent office property located at 3205 Ocean Park Boulevard for $7 million.

The property, situated just north of Santa Monica Airport with convenient access to the 10 Freeway, encompasses approximately 16,700 square feet of office space and sits on a 25,622 square foot lot. The buyer, an active developer in the region, has proposed constructing a residential complex with over 100 units, pending city approvals.

T.C. Macker, a principal at WESTMAC, emphasized the transaction's significance during a period of limited development opportunities. The sale represents more than a simple property transfer; it potentially addresses critical urban housing needs while supporting community growth.

The transaction involved key commercial real estate professionals, with WESTMAC's T.C. Macker and Woody Cook representing the seller, and Filip Niculete and Glen Scher of Marcus & Millichap representing the buyer.

This sale underscores broader trends in commercial real estate, particularly the ongoing transformation of urban spaces to meet evolving housing demands. For human resources professionals and business leaders, such developments signal potential shifts in workplace and residential infrastructure that could impact talent recruitment, employee housing, and regional economic dynamics.

The proposed residential development, if approved, could contribute to addressing Santa Monica's housing challenges while potentially creating new opportunities for local businesses and residents. The transaction highlights the continued resilience and adaptability of the commercial real estate market, even amid challenging economic conditions.