Newmark completed the $38.2-million sale of 10918-10926 Le Conte Avenue, a 1.16-acre land site with a 9,647-square-foot office building in Westwood. Newmark executive managing director Ryan Plummer and WESTMAC EVPs Willa McNamarra Fields and Jim Burnap co-represented the seller, Le Conte Westwood Development, in the off-market transaction. The buyer was co-represented by Newmark executive managing director David Kluth and JLL EVP Aliya Coher.
The property benefits from its prime location adjacent to UCLA and Ronald Reagan UCLA Medical Center, close to the Westwood Village retail and dining corridor and with direct access to major thoroughfares and the I-405 and I-10 freeways for connectivity throughout the Westside of Los Angeles. The buyer’s plans for the new development will be revealed in the coming months.
“An irreplaceable land site near UCLA in Westwood Village is a once-in-a-generation foothold in the heart of Los Angeles, where scarcity, walkability and enduring demand intersect,” said Plummer. “This core Los Angeles institution’s presence in Westwood is poised to deliver lasting benefits to the entire surrounding community.”
