Land Sells on Santa Monica Blvd. for $6.35M.
Investor Purchases Future Office Development Site in Los Angeles An investor acquired 0.413 acres at 11261 Santa Monica Blvd. in Los Angeles from Sayabalian Family Trust for $6.53 million, or approximately $15.81 million per acre ($353 per square foot).
The property's current use is a Chevron gas station, which will eventually be demolished. The buyer plans to use the land for office development. Eric Sackler and Antonio Hackem of Coldwell Banker Commercial represented the seller.
Michael Meraz of Magnum Properties Los Angeles represented the buyer, Quattro SM/Beloit Partners LLC.
Please refer to CoStar COMPS #1378541 for additional information.