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Jamison Claims West L.A. Development Site
Jamison Properties acquired a development site at Santa Monica Blvd. and Federal Ave. in West Los Angeles for $16 million. The seller was a family partnership of local, private real estate investors and owner and operator of the Blue Wave Hand Car Wash, currently located on the site. The company will lease back the property, while the buyer pursues entitlements.
The roughly 0.65-acre property is located at 11600 Santa Monica Blvd. and suitable for approximately 100 apartments, including affordable housing units. While the property also qualifies for Tier 1 TOC, the buyer did not elect to utilize this program.
CBRE’s Laurie Lustig-Bower and Kadie Presley Wilson represented the seller.
Lustig-Bower says, “The site’s great West L.A. location and proximity to transit garnered a lot of attention from developers. We produced a dozen offers on the property, and it eventually traded for $564-per-square-foot for the land.”
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- ◦Sale/Acquisition




