Wednesday, January 30, 2013

Three-Quarter-Acre Santa Monica, CA Redevelopment Site Sold by Marcus & Millichap

Santa Monica, CA redevelopment site
1513 Lincoln Boulevard
SANTA MONICA, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 0.73-acre lot slated for redevelopment in Santa Monica. The terms of the sale were not disclosed.

            Vice presidents investments Alex Kozakov and Patrick Wade, both in the firm’s Los Angeles office, represented the seller, a private partnership. Kozakov and Wade also represented the buyer, an institutional joint venture.

Alex Kozakov
“Situated in an A-plus location of Santa Monica, the asset was in great demand as a mixed-use redevelopment project,” says Kozakov. “The lot carries the highly desirable zoning designation ‘mixed-use boulevard’ under the Santa Monica Land Use and Circulation Element.”

Located at 1613 Lincoln Blvd. one parcel south of the signalized southeast corner at Colorado Avenue and just north of Interstate 10—the Santa Monica Freeway—the site faces the newly planned Expo light-rail line. The light rail will run along Colorado Avenue and connect downtown Santa Monica to downtown Los Angeles.

For a complete copy of the company’s news release, please contact:

Public Relations
(925) 953-1716

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