Santa Monica, CA – (RealEstateRama) — Global real estate investment company Kennedy Wilson represented both the buyer and seller in the $16 million sale of a prime, mixed-use complex located at the corner of 11th Street and Wilshire Boulevard in the heart of Santa Monica. The approximately 23,500-square foot, retail and multifamily property was purchased by 11th and Wilshire, LLC. The seller was Paragon Properties.
The Kennedy Wilson team was led by Ed Sachse, executive managing director of brokerage, along with Fred Cordova, executive vice president of brokerage and Christine Deschaine, senior vice president of brokerage.
Originally built in 1922 and 1927, the property is located at 1101-1115 Wilshire Blvd. in Santa Monica. It consists of two lots, including five brick and beam, one story commercial buildings, which still have original bow truss structures. The second, adjacent parcel has a two-story, five-unit apartment building. All of the property’s buildings are 100 percent leased.