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Culver City Commercial Property Recent Closed Sales – Retail, Office, and Industrial

Culver City Recent Commercial Property Sales

culver-city-submarketsBelow is a sampling of closed sales over the past few months in the Culver City Commercial Real Estate Market. Properties were chosen as a representative sample for each of the submarkets within Culver City: Downtown, Arts District, La Cienega South (LSDAD), Corporate Pointe, Fox Hills, Hayden Tract, Jefferson Boulevard Corridor, Mid-Washington, Overland, Sepulveda, Washington National, and West Washington. Even in a relatively small real estate market such as Culver City, there are wide variations in price per square foot for commercial properties. The old mantra of “location, location, location” rings true.

Retail and Office Properties are higher priced then industrial properties, but some industrial properties are very high priced because of lack of supply on the Westside of LA and the high demands of the entertainment industry and other deep pocketed users. The Hayden Tract was once a common industrial zone filled with generic warehouse but now is a creative hub for region drawing the demand of design, architecture, entertainment, education, and tech companies. The Fox Hills area and Corporate Point seem to be moving in the same direction for the office rental and sales market. Downtown, Washington National, and West Washington are showing strong demand from food users. Sepulveda, Mid-Washington, and Overland still have solid demand for general retail and food use. Lastly, the Arts District and La Cienega South continue to be popular with the creative industries.

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Retail Properties

  • 11724 Culver Blvd, 1/7/2015, $510,000, 660 SF, $772.73/SF
  • 11028 Washington Blvd, 9/12/2014, $1,850,000, 3570 SF, $518.21/SF
  • 8582 Washington Blvd, 2/20/2015, $975,000, 1680 SF, $580.36/SF
  • 10864 Washington Blvd, 11/17/2014, $1,450,000, 3825 SF, $379.08/SF
  • 8777 Washington Blvd, 11/25/ 2014, $16,000,000, 13,527 SF, $1,182.82/SF

Office Properties

  • 6100 Bristol Pkwy, 10/10/2014, $20,150,000, 16,073 SF, $1,253.66/SF
  • 6122 Washington Blvd, 12/11/2014, $1,850,000, 3150 SF, $587.30/SF
  • 12964 W. Washington Blvd, 9/16/2014, $1,330,000, 1853 SF, $717.75/SF
  • 10808 Washington Blvd, 3/16/2015, $1,729,000, 4482 SF, $385.77/SF
  • 8550 Higuera St, 2/27/2015, $108,000,000, 115,368 SF, $936.13/SF

Industrial Properties

  • 8921 Lindblade St, 3/16/2015, $15,150,000, 13,512 SF, $1,121.23/SF
  • 5615 Mesmer Ave, 4/29/2014, $1,050,000, 3780 SF, $277.78/SF
  • 5621 Mesmer Ave, 6/18/2014, $5,750,000, 4201 SF, $1,368.72/SF
  • 11822 Jefferson Blvd, 5/2/2014, $1,200,000, 1650 SF, $727.28 SF
  • 5707 Mesmer Ave, 1/12/2015, $1,500,000, 4000 SF, $375/SF

As of April 2015

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