SILICON BEACH CREATIVE OFFICE FOR SALE OFFERING MEMORANDUM THE STRAND OFFICES 311 315 Culver Blvd., Playa del Rey, CA 90293, United States THE STRAND OFFICES AT PLAYA DEL REY
OFFERING SUMMARY Newly Constructed, Class A Creative Office Compound 3 Blocks from Beach in Playa del Rey The Strand Offices at Playa del Rey is a newly constructed, boutique office compound, extremely well located near the 105/90/405 freeways, and mere minutes from LAX and Manhattan Beach. This gated development offers a rare opportunity for modern design and construction, sustainability, access and a coastal business lifestyle. The walkable community of Playa del Rey offers an array of restaurants, gastropubs, bars, grocery, fitness and service retail, in addition to easy access to the bike path along the beach. This creative office compound presents an exceptional investment or owner-user opportunity. The property features ample on-site parking behind mahogany remote-controlled gates, high ceilings, openable windows, Fleetwood-style sliding doors to decks on each floor, and sustainable features throughout. Asking price: $12,950,000
PHOTO GALLERY
INVESTMENT HIGHLIGHTS $13,500,000 4% Cap Rate New Construction Class A 10,000 Square Feet on.23 acres Exceptional location close to freeways, beach, high-end neighborhoods, LAX Expansive Views of Ballona Wetlands and Marina del Rey Private, secured building access and on-site parking (30 tandem spaces) accessed through responsibly-forested Mahogany remote-controlled gates Buildings Pre-Wired with Cat6 Cabling and Associated Network Parts 2 ADA-Compliant Restrooms on Each Floor (both buildings) + Kitchenettes with Fisher-Paykel SS Drawer Dishwashers and SS Refrigerators (311) 9-Camera Security System in place with DVR; pre-wired for 16 camera security system for each building. 4 EV Charging Stations + Lockable Bike Parking Dual Glazed Operable Windows with Solar Glazing Throughout 10 8 and 11 6 Ceiling Heights on Second and Third Floors, respectively Outdoor Decks and Fleetwood-style Doors 2 Elevators (1 per building) LED Lighting Installed Throughout, Including Parking Area Formaldehyde and Dye-Free Insulation Used Throughout; LEED-Certified Steel Foundation PIles Fiber-Optics and COAX Installed to Property Del Rey Lagoon Vista Del Mar The Shack US Post Office Café Milan Mo s Place Cantalini s Culver Blvd Szechwan Palace G s Juice Prince O Whales Señor G s The Tripel Clean Boards, Art, Apparel Sandune Market MS Vintage Gordon s Market Tanner s Coffee Co. Bacari PDR Pershing Dr Inn at Playa Del Rey Good Morning Vietnam Culver Blvd 90 FWY Pershing Dr LAX 600 AMP, 3 Phase Electrical System Base System and Roof Supports in Place for 50-Panel Solar System on Each Building Beach Playa Provisions Caffé Pinguini Vista Del Mar Manhattan Beach
AREA OVERVIEW Nearby Tenants
PROPERTY DATA Product Type: Office Lease Type: NNN Construction: Steel/Wood/Concrete Lease Term: Call for Info / Rent Roll Building Area: 10,000 SF* Current Annual Net Income: $540,000 Price: $13,500,000 APN: 4116-009-055 / 4116-009-056 Stories: 3 Price PSF: $1,350 Ownership: Parking: Fee Simple 30 Surface Zoning: C4 Land Area: Approx. 100 x100 ; 10,000 SF;.23 AC Leased: 100% Currently *Buyer to verify
THE STRAND OFFICES THE AT PLAYA DEL REY Drone photo by Masek Imaging
MARKET COMPARABLES Sold Commercial Properties Property Address: Submarket: 12901 W. Jefferson Blvd. Playa Vista Sale Price: $45,000,450 $/SF: $1,378 SF: 32,638 Built: 1969 Sale Date: 1/19/2017 Property Address: Submarket: 123 Washington Blvd. Marina del Rey Sale Price: $8,400,084 $/SF: $2,189 SF: 3,836 Built: 1928 Sale Date: 8/5/2016
MARKET COMPARABLES Sold Commercial Properties Property Address: Submarket: 535 Victoria Ave. Venice Sale Price: $8,600,000 $/SF: $2,559 SF: 3,360 Built: 1954 Sale Date: 1/4/17 Property Address: Submarket: 901 Abbot Kinney Blvd. Venice Sale Price: $23,000,000 $/SF: $1,611 SF: 14,275 Built: 1912 Sale Date: 1/1/15
MARKET COMPARABLES Sold Commercial Properties Property Address: Submarket: 2124 Zeno Place Venice Sale Price: $8,600,000 $/SF: $2,243 SF: 3,835 Built: 1954 Sale Date: 1/4/17 Property Address: Submarket: 4363 Lincoln Blvd. Marina Del Rey Sale Price: $8,318,344 $/SF: $1,664 SF: 5,000 Built: 1951 Sale Date: 11/7/17
CONTACT THE STRAND OFFICES AT PLAYA DEL REY THE STRAND AT PLAYA 311-315 Culver Blvd., Playa del Rey, CA 90293 www.thestrandoffices.com CONTACT INFO: Kim Macy / Cove Spring Partners LP Phone: Phone: 310-577-5871 x 222 Email: kmacy@thestrandoffices.com Interior and exterior photos by Hunter Kerhart Disclaimer: This document has been prepared by Cove Spring Partners LP for marketing and general information purposes only. Any interested party must undertake their own due diligence as to the accuracy and completeness of all information. Cove Spring Partners LP disclaims any liability arising from or relating to inaccurate or incomplete information.