Bob Lynn Acquires Fully Leased Retail Center At 1201 Wilshire Boulevard For $4.2M

The property involved in this transaction is a retail center located at 1201 Wilshire Boulevard in Santa Monica. It was sold for a price of $4,200,000, covering a total area of 6,318 square feet, which results in a price per square foot of $664. The asset is a fully leased 6-unit retail center with potential for growth.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,200,000
• Buyer: Bob Lynn
• Seller: John Gallagher
• Buyer’s Representative: John Lally - Zacuto Group
• Seller’s Representative: Matthew Luchs - Zacuto Group
• Total Offers Received: 14 in the first week of marketing
• Duration of Seller's Ownership: Over 50 years
• Escrow Hurdles: Overcame multiple issues including Environmental
• Financing Contingency: None

This transaction featured key representatives from Zacuto Group, with both the buyer and seller being supported by John Lally and Matthew Luchs, respectively. Their roles were critical in facilitating the deal, especially in handling the competitive market and navigating the complexities during escrow.