Westmac arranges $7.2M sale of medical office building in West Los Angeles

WESTMAC Commercial Brokerage Company has announced the sale of 11570 W. Olympic Boulevard in Los Angeles for $7.2 million, highlighting ongoing demand for owner-user medical office properties in the West Los Angeles market. The buyer, White Camden, LLC, an owner-user medical group, acquired the approximately 10,724-square-foot medical office building situated on a roughly 23,187-square-foot lot. The property generated multiple offers before closing, underscoring its desirability.

The transaction was handled by T.C. Macker, President of WESTMAC, and Woody Cook, who represented the seller, Nogan LLC. In a statement, Macker said, ‘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.’

The sale is significant because it demonstrates the resilience of the medical office sector, which has remained attractive to investors and owner-users alike. Medical office buildings often provide stable income streams and are less susceptible to economic downturns compared to other commercial real estate types. The fact that the property attracted multiple offers suggests that competition for prime medical office assets in West Los Angeles remains high.

West Los Angeles is a key submarket within the broader Los Angeles commercial real estate landscape. The area benefits from proximity to major employment centers, including the Westside, Santa Monica, and Beverly Hills, as well as a dense residential population that supports demand for medical services. Owner-user transactions, where the buyer intends to occupy the property for their own business operations, are particularly noteworthy because they remove the property from the investment market and can lead to long-term stability.

WESTMAC Commercial Brokerage Company, founded in 1988 by Timothy C. Macker, is a Los Angeles-based full-service real estate firm specializing in office, industrial, retail, and multi-family properties. The company provides advisory and marketing services to property owners, users, developers, and investors. From 2001 to 2018, the firm was affiliated with Coldwell Banker Commercial before returning to its independent roots.

This transaction adds to a growing list of medical office sales in the region, as healthcare providers seek to own their facilities to control costs and customize spaces. With interest rates stabilizing and demand for healthcare services rising, the medical office sector is expected to remain a bright spot in commercial real estate. The sale of 11570 W. Olympic Boulevard serves as a bellwether for the strength of the West LA medical office market.

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