FOR SALE. Los Angeles, CA 90064

Transcription

1 FOR SALE Los Angeles, CA

2 price $14,995,000 LEED Gold Certified 100% of the showroom s electricity is generated by solar photovoltaics. Building 10,177 SF (8,490 SF 1st floor and 1,687 SF mezzanine) Land 11,746 SF (0.27 acres) Zoning M2-1, Light industrial Clear Height 14 Minimum clear height in showroom area Loading 2 Ground floor loading doors Courtyard Private exterior landscaped patio/garden courtyard with olive trees and seating area Power 800 Amps, 3-phase. Automatic fire sprinkler system Assessor s Parcel Built 1947 // Renovated 2009 Parking Three spaces private and secure 2

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5 floor Plan Storage section adjacent to north side of main showroom West Side, low ceiling area East Side South side with glass block- lots of light 5

6 area Overview SAWTELLE Foodies have flocked to the area in the last decade or so, thanks to dazzling, Jonathan Gold approved sushi and an infusion of outside Asian culinary influences, often Korean and Vietnamese. The stretch of Sawtelle Boulevard often referred to as Little Osaka recently has expanded so quickly that it s bursting beyond its traditional boundaries. With so many new restaurant openings, they re popping up north of Santa Monica Boulevard and south of Olympic. The neighborhood is probably best known for Sawtelle Boulevard a popular tree-lined street filled with kitschy boutiques, Asian restaurants, and dessert shops. Residents who live in the Sawtelle neighborhood tend to be millennials ranging from tech professionals working in the westside to young families and UCLA students living off-campus. Overall, Sawtelle is a popular neighborhood that gets its fair share of visits from both locals and tourists. From ramen and sushi to shave ice and creme brule crepes, Sawtelle features so many quality restaurants and eateries within steps of each other that it even rivals Little Tokyo on the eastside. Simply head towards Sawtelle Boulevard between Santa Monica Boulevard and Olympic Boulevard to find a never-ending sidewalk consisting of specialty stores, Japanese markets, Asian restaurants, and pastry shops. This street has become so trendy that even big-name restaurants are starting to set up shop. 6

7 WEST LA/OLYMPIC CORRIDOR The Property is strategically located in the Olympic Corridor. There is an abundance of amenities along Sawtelle Avenue as new commercial and residential developments bring a greater population density and as Tech and Media companies flow into this market. The Olympic Corridor area is just a small part of the West LA Submarket of Los Angeles. Other adjacent submarkets include Santa Monica, Brentwood, Westwood, and Culver City. METRO: A 10 minute walk from 2242 Purdue. the 6.6- mile extension Metro Expo Line project is now complete and connects the 80-station Metro Rail System from the existing station at Culver City west to Santa Monica. The Expo Line Phase 2 runs along the old Pacific Electric Exposition right-of-way to 4th St. and Colorado Av. in downtown Santa Monica. Phase 2 connects Santa Monica by rail to Downtown LA, Pasadena, San Fernando Valley, South Bay, Long Beach and dozens of points in between. With seven new stations serving diverse LA neighborhoods such as Century City, West Los Angeles, and Santa Monica, the Metro Rail system will now expand to 87 stations and over 93 miles of rail to destinations across L.A. County. SILICON BEACH: Amid the palm trees and purple sunsets of the Southern California coastline, techies have built Silicon Beach. In the past few years Google, Microsoft, Facebook, and YouTube have opened offices on the west side of Los Angeles from Santa Monica south to Venice and Playa del Rey. They are joined by hundreds of startups including Hulu, Demand Media and Snapchat, which nixed a $3 billion takeover offer from Facebook. Major Hollywood players like The Walt Disney Co. and Time Warner Inc. s Warner Bros. have launched startup accelerators to help local tech entrepreneurs. 7

8 area Demographics Average Home Value: $776,862 1 Mile Radius $1,000,001 3 Mile Radius $1,099,000 Santa Monica Employment: 43,703 Employees 1 Mile Radius 321,116 Employees 3 Mile Radius 565,913 Employees 5 Mile Radius Average Bachelor s or Above Ages 25+: 63% 1 Mile Radius 64% 3 Mile Radius 66.4% Santa Monica Businesses: 3,850 Businesses 1 Mile Radius 22,833 Businesses 3 Mile Radius 46,821 Businesses 5 Mile Radius 8

9 area Map 9

10 LUMEN Property Profile Lumen, will be a renovation and transformation by McCarthy Cook of the former Trident Center. The project, when completed in 2021, will consist of approximately 550,000 square feet. There will be new retail built as part of the project which will bring additional amenities to the immediate area thereby benefiting 2242 Purdue. Lumen is centrally located along the Olympic Corridor submarket in West Los Angeles. The project is situated on Olympic Boulevard, three blocks west of Interstate 405 and approximately ½ mile north of the 405 / 10 freeway interchange, offering freeway visibility and signage opportunities to major tenants. Ingress and egress to the Property is provided via driveways from Purdue and Corinth Avenues. The Property is only a minute drive from the prestigious West Los Angeles office submarkets of Century City, Westwood, Santa Monica, Beverly Hills and Brentwood and is also proximate to the executive housing areas of West Los Angeles. 10

11 functional Features Mezzanine Office: ±1,687 SF Site Coverage Ratio: 72.3% Floor Area Ratio (FAR): Showroom Clear Height: Minimum 14 feet Ground Level Loading Doors: Two (2) roll-up on the east side Power Capacity: 400 to 800 amps, 1-3 phase, 3-wire Fire Sprinkler Protection: Yes Interior Lighting: Recessed incandescent and CFL in mezzanine; direct halogen and decorative LED in the main showroom; recessed fluorescent in the show space under the mezzanine On-Site Parking: East end of site; striped for three vehicles with room for four additional vehicles Solar Power System: Multiple roof-mounted panels generating 45 kw that serve all building power needs 11

12 Construction Foundation & Floor Structure: Assumed rebar reinforced concrete slab with perimeter footings and a thickness of 5 to 6 inches. Showroom floor surface is a built-up concrete layer over the original slab; this floor layer has been stamped with a square pattern to resemble individual blocks. Exterior Walls: Reinforced brick masonry that has been painted; some of the perimeter wall sections are comprised of decorative 6 or 8 inch glass blocks. Roof Structure: Wooden bow truss system supported by both exterior walls and interior vertical steel columns, covered by a panelized roof structure with plywood sheathing and layered, built-up composition cover (replaced in 2009). There is plenum space for storage at mezzanine height and parallel to the north and south walls. There are seven dual pane skylights above the mezzanine area. HVAC: Eight roof-mounted HVAC package units serving seven interior zones. Four of these were replaced in 2012 for compliance with LEED Gold Standard. The other four units are scheduled to be upgraded in the next four years. 12

13 FOR SALE Los Angeles, CA Jeff Pion Lic Michelle Esquivel-Hall Lic CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.2242 Purdue _OM_v4 CBRE, INC. Broker Lic