SUNSET BOULEVARD LOS ANGELES OFFERING MEMORANDUM

Transcription

1 6640 SUNSET BOULEVARD LOS ANGELES OFFERING MEMORANDUM

2 Table of Contents Executive Summary 4 Property Overview 6 Floor Plans 8 Area Overview 10 SETH WELLISCH Principal swellisch@cresa.com BRE # GERALD A PORTER Founding Principal jporter@cresa.com BRE # Cresa All rights reserved. The information contained in this document has been obtained from sources believed reliable. While Cresa does not doubt its accuracy, Cresa has not verified it and makes no guarantee, warranty, or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. 2 3

3 Executive Summary As the exclusive agent for the owner, Cresa is pleased to present 6640 Sunset Boulevard. This is a rare opportunity to purchase a standalone creative office property on a prime block of Sunset Boulevard in the heart of Hollywood. The site is improved with a 12,960 SF two-story, bow truss building that is built out with highly functional tenant improvements. The building is located within close proximity to Viacom, Netflix & The Paramount Studios lot and a short walk to dozens of restaurants and entertainment amenities. 35 apartment units and 5,000 SF of retail currently under construction ±12,960 SF BUILDING ±14,185 SF LAND ±34 PARKING SPACES CHEROKEE AVE The site is currently 100% owner occupied (Seller will vacate the property on or before November 1, 2018). The on-site surface parking lot is gated and currently striped for ±34 cars. SUNSET BLVD N 4 5

4 Plat Map Property Profile ADDRESS W Sunset Boulevard Los Angeles, CA COUNTY Los Angeles LAND AREA ±14,185 SF BUILDING SIZE ±12,960 SF PARKING ±34 on-site surface spaces in a gated lot ZONING LA C4 ASSESSOR S PARCEL NUMBER (APN) ASKING PRICE $10,900,

5 1st Floor 8 2nd Floor 9

6 Area Tenants 1 7 There is no place on earth more closely associated with the entertainment industry than Hollywood. Whether it be the films produced at Paramount, television shows shot at the Sunset Gower lot or albums recorded at Sunset Sound, Hollywood is where it all started. More recently, Hollywood has enjoyed a renaissance with some of the city s largest tech & media names (Viacom, Netflix, Buzzfeed) moving into the neighborhood. Hollywood is also one of the most active multi-family and mixed-use development markets in Southern California with 107 projects currently proposed or under construction AMDA Amoeba Music BLT Broadgreen Buddha Jones Buzzfeed Capitol Records Clique Media CNN Milk Studios NetFlix NeueHouse Nielsen OWN Paramount Studios Raleigh Studios SAE Institute Show Time Sunset Blvd SUNSET BLVD HOLLYWOOD BLVD Critical Content Emerson College Fender Film LA Funny or Die Gnomon School SIM Group/Chainsaw Siren Studios Sickdeals StyleHaul Sunset Bronson Studios Sunset Gower Studios LA BREA AVE HIGHLAND FOUNTAIN AVE SANTA MONICA BLVD 101 FREEWAY 101 FREEWAY 15 VINE ST GOWER ST Jim Hensen Company j2 Global Communications KTLA 5 LA Film School Live Nation Magical Elves Technicolor Trailer Park Viacom Whalerock ZestFinance SEWARD AVE MELROSE AVE

7 LA BREA Amenities HIGHLAND AVE 101 FREEWAY VINE FREEWAY WESTERN Bars & Nightlife 33 Taps Boardner s Cabo Cantina Delancey Gardenia La Velvet Margarita Cantina Library Bar Loaded Delphine Domino s Pizza Dos Burritos El Floridita Fabiolus Cucina Fat Sal s Greco s Pizza Parlor Groundwork Coffee Hollywood Rock Café ShopHouse Smoke s Poutinerie Starbucks* Stella Barra Stout Burgers & Beers Next Door Lounge 42 Hooters 77 Thai Pepper Restaurant 94 Shopping Center Outpost 43 Jamba Juice 78 The Bowery Hollywood & Highland Center HOLLYWOOD BLVD 101 HOLLYWOOD BLVD 11 Royal 44 Joe s Pizza 79 The Hungry Cat Cabo Wabo Cantina, California Sassafras Salon 45 Kabuki 80 The Melt Pizza Kitchen, Chado Tea Saint Felix 46 Kino Sushi 81 The Vegan House Room, Cho Oishi, D Lush, Station Hollywood 47 Kitchen The Waffle French Crepe Company, Green Earth Café, Hard Rock Café, Te Kila 48 La Poubelle Bistro & Bar 83 Trejo s Coffee & Donuts Sunset Blvd Johnny Rockets, Kelly s Coffee The Well 49 LifeFood Organic 84 Umami Burger SUNSET BLVD & Fudge Factory, Lucky Strike, Tinhorn Flats 50 Los Burritos 85 Urban Masala Pokinometry, Starbucks, The Wood & Vine 51 Loteria Grill 86 Vegas Seafood Buffet Grill, Trastevere Ristorante 52 Casual Eats & Beverages Luv2Eat Thai Bistro 87 Veggie Grill 110 West Hollywood Gateway Coffee Shop Mel s Drive-In 88 Yakipan Baja Fresh, Crazy Rock n Sushi, Degrees Miceli s Fine Dining Daphne s Greek Cafe, Flame 38 FOUNTAIN AVE Degrees Pizza Mission Cantina Broiler, Formosa Cafe, Hot N Beso Andre s Pizza Off Vine Juicy Crawfish, Jersey Mike s Cleo Subs, Mendocino Farms, Target, Atch-Kotch Ono Hawaiian BBQ* 91 Gwen The Pizza Press, Starbucks AY-Do-NO Korean BBQ Paley 92 Katsuya 5 Birch Palms Thai Metro Stations Musso & Frank Grill SANTA MONICA BLVD Blue Palms Brewhouse Papilles Red Line Preston s Burger Factory Pig N Whistle Fitness Centers 62 Caffé Etc. Pimai *multiple locations Hour Fitness Calle Tacos Pink Pepper 96 CrossFit SolCity Ciabatta Bar Pure Natural Blends Café 97 Hollywood Wilshire YMCA Coffee Bean & Tea Leaf* Roscoe s 98 Golds Gym Coffee Commissary Running Goose LA Fitness* 67 Sharky s 100 Made in LA Sugarfish Sushi Ajito Sushi Ike Tamarind Deli Markets CVS Pharmacy* Gelson s Ralphs* Rite Aid* Sprouts Trader Joe s Walgreens* Yummy.com

8 6640 SUNSET BOULEVARD LOS ANGELES SETH WELLISCH Principal BRE # GERALD A PORTER Founding Principal jporter@cresa.com BRE # Cresa All rights reserved. The information contained in this document has been obtained from sources believed reliable. While Cresa does not doubt its accuracy, Cresa has not verified it and makes no guarantee, warranty, or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.