Beitler Commercial Sells Westwood Village Office, Parking Lot

An office building and parking lot near the University of California, Los Angeles campus sold for $38 million.

Le Conte Westwood Development, an affiliate of Beitler Commercial Realty Services, sold the 1.2-acre site at 10918–10926 Le Conte Avenue to an undisclosed buyer, L.A. Business First reported.

The price pencils out to $752 per square foot for the property’s 50,500 square feet of land. The office building spans 9,650 square feet.

The property is adjacent to the UCLA campus and Ronald Reagan UCLA Medical Center, near the Westwood Village retail and dining center.

The buyer is a “core Los Angeles institution,” said Newmark’s Ryan Plummer, who represented the seller in the off-market transaction. The buyer is not affiliated with UCLA, said JLL’s Aliya Coher, who represented the buyer.

The Beitler family sold nearby Holmby Hall, another Westwood Village commercial property, in October. The 50,800-square-foot retail building, boasting a 110-foot clock tower, was the first shopping structure in Westwood Village and is across from the UCLA campus. An undisclosed buyer purchased the property for $32.7 million, or $644 per square foot.

In August, Beitler Commercial Realty sold an apartment and office property at 16300 Ventura Boulevard in Encino for $34 million. A private family office purchased the 57,000-square-foot property with about 50 residences above two ground-floor commercial suites occupied by JP Morgan Financial Center and Pinnacle Estate Properties, L.A. Business First reported.

In 2024, Hankey Capital claimed a loan default on a Brentwood mansion occupied by Logan Beitler, president of Beitler Commercial Realty Services. Hankey claimed Beitler fell behind on $16.2 million in debt. Hankey provided a $13 million mortgage for the home in 2020. The two sides worked toward curing the default, according to a source with knowledge of the situation. — Chris Malone Méndez