Former Bank of America
Former Bank of America
Marketing description
Newmark Capital Markets & WestPac Partners is pleased to present to qualified investors the rare opportunity to acquire a core, coastal commercial property positioned for a wide range of value-add or redevelopment possibilities. Located at the convergence of two dynamic coastal communities — Rancho Palos Verdes and San Pedro — the Property consists of 8,005 square feet of improvements situated on over 0.92 acres of land.
Previously occupied by a long-standing financial institution, the building is now vacant, offering investors the unique ability to reposition the site. The oversized parcel and strong visibility make it an excellent site for multiple future uses. Given the scarcity of large coastal sites in this submarket, the Property represents a best-in-class redevelopment or re-tenanting opportunity.
Investment highlights
Core, Coastal, Irreplaceable Location
- Located at the base of Rancho Palos Verdes & San Pedro, two dynamic Los Angeles coastal communities with a diverse consumer base
- High barriers to entry coastal market with no future competition
- Positioned at the corner of Western Avenue and West 25th Street, the two primary arterials around the Palos Verdes Peninsula and San Pedro markets
- Newly remodeled Smart & Final anchored shopping center
- Prime owner-user opportunity- building features high ceilings, abundant natural light and ample parking
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