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Culver City Council Acquires Retail Property On Washington Boulevard For $6.5M

Property Image
SOLD
$6,500,000

California

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Retail
Sold 09/29/2023
the dealdetailscomps
Property Image
SOLD

Culver City Council Acquires Retail Property On Washington Boulevard For $6.5M

11029 Washington Boulevard

See Similar Deals
Retail
Sold 09/29/2023
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:Retail
Transaction Type:Sale

The Culver City Council has acquired the Martin B. Retting, Inc. gun business located at 11029 Washington Boulevard in Culver City. The retail property was sold for a total of $6,500,000. The purchase was made to prevent the establishment of another gun shop near a school, in accordance with a ban implemented in 2005. The city council aims to address concerns regarding gun violence and its impact on the community.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $6,500,000
  • Date: 09/29/2023
  • Address: 11029 Washington Boulevard
  • Market: Culver City
  • Buyer: The Culver City Council - Dustin Klemann
  • Seller: Martin B. Retting, Inc.

Dustin Klemann, on behalf of The Culver City Council, was the buyer in this transaction. The seller was Martin B. Retting, Inc. These key individuals and entities were involved in the sale of the retail property. The decision to acquire the gun business reflects the council's commitment to maintaining the ban on gun shops near schools and addressing concerns related to gun violence within the community.

Details

SOLD
IMAGE: 09/29/2023 ADDRESS: 11029 Washington Boulevard MARKET: Culver City ASSET TYPE: Retail BUYER: The Culver City Council - Dustin Klemann SELLER: Martin B. Retting, Inc. SALE PRICE: $6,500,000 NOTE: The Culver City Council purchased the Martin B. Retting, Inc. gun business for $6.5 million to prevent another gun shop from replacing it near a school. This decision upholds a 2005 ban, and the city aims to address gun violence concerns and its impact on the community.

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