WESTSIDE LOS ANGELES DEVELOPMENT SITE

Transcription

1 Wilshire Boulevard WESTSIDE LOS ANGELES DEVELOPMENT SITE Pacific Ocean SEC WILSHIRE BLVD & BARRINGTON AVE PRICE: $29,950,000 VENICE Silicon Beach Montana Avenue PACIFIC PALISADES SANTA MONICA Brentwood Country Club BRENTWOOD San Vicente Boulevard Subject Site The BW Barrington Avenue Brentwood Shopping District ZONED FOR: RESIDENTIAL, RETAIL, HOTEL AND OFFICE LOT SIZE: ± 20,970

2 EAST VIEW HOLLYWOOD BEVERLY HILLS Wilshire Corridor WESTWOOD DOWNTOWN LA CENTURY CITY VA Hospital Federal Avenue Santa Monica Boulevard THE WILSHIRE BRENTWOOD TOWER Subject Site Barrington Plaza University High School The BW Barrington Avenue BRENTWOOD Wilshire Boulevard PAGE 2

3 EXECUTIVE SUMMARY CBRE is pleased to present a high profile, mixed-use development site at the southeast corner of Wilshire Boulevard and Barrington Avenue in the highly coveted Brentwood submarket. The Wilshire Brentwood Tower development opportunity is an almost half acre site approximately 3.5 miles from the Pacific Ocean. Located on Wilshire Boulevard, the site benefits from excellent visibility on one of Los Angeles most prominent thoroughfares. The property s zoning allows for a variety of development possibilities by right. In particular, it may be developed for residential, retail, hotel, office or any combination of these product types. This dynamic, pedestrian-friendly site is zoned [Q]C2-2-CDO General Commercial and is not restricted to a height limit. The 6:1 FAR offers double the amount of buildable square footage than most other lots in the area. This project provides a unique opportunity for investors seeking a location where current zoning and availability may limit future residential high-rise construction. The Wilshire Brentwood Tower development site has a prime location adjoining some of Los Angeles most sought after submarkets. Situated west of the 405 with a coveted Wilshire Boulevard address, the property is at the southern gateway to Brentwood, an affluent neighborhood, home to some of the most expensive residences, as well as the chicest restaurants and shops in Los Angeles Westside. The City of Santa Monica lies just blocks to the west of the subject site and offers a plethora of retail and cultural amenities, and is an employment hub for nearly 290,000 daytime employees. Due east of the subject property is Westwood, home to UCLA and the numerous retail shops comprising Westwood Village. PROPERTY SUMMARY ADDRESS Wilshire Boulevard Los Angeles, CA APN LOT AREA (SF) ± 20,970 LOT AREA (ACRE) ± 0.48 ZONING [Q]C2-2-CDO General Commercial ENTITLED No SUBJECT SITE Price: $29,950,000 For more information visit: PAGE 3

4 RENDERING Designed by Gensler. PAGE 4

5 THE PROPERTY POTENTIAL DEVELOPMENT SCENARIO FOR RESIDENTIAL AND RETAIL EST. TOTAL BUILDING AREA (SF) ± 125,500 Net Retail (SF) Net Residential (SF) ± 14,000 ± 92,500 EST. TOTAL UNITS (using Bonus Density Program) ± 74 Very Low Income Market Rate ± 6 ± 68 EST. AVERAGE UNIT SIZE (SF) ± 1,250 BRENTWOOD Barrington Plaza Subject Site Barrington Avenue The BW Wilshire Boulevard Federal Avenue POTENTIAL DEVELOPMENT ENVELOPE ZONING [Q]C2-2-CDO EST. AVAILABLE FLOOR AREA ± 125,817 Q CONDITION Off-Site Signs, Pole Signs, Mural Signs, and Supergraphic Displays, as defined in the Los Angeles Municipal Code, are prohibited. CDO The West Wilshire Boulevard Community Design Overlay provides guidance and direction in the design of buildings and storefronts that will enhance the appearance of the street. Its guidelines and standards offer direction for infill development, addressing such concerns as site planning, pedestrian-oriented building design, location and design of parking structures and surface parking, landscaping, and signage. For more information about the Q Condition and the CDO please visit: EST. TOTAL RESIDENTIAL UNITS (BASE) 55 Market Rate EST. TOTAL MARKET RATE & BONUS DENSITY UNITS 74 (would include 6 very low income units) RETAIL ± 14,000 PAGE 5

6 THE PROPERTY PACIFIC OCEAN PACIFIC PALISADES SANTA MONICA LOCATION HIGHLIGHTS Brentwood Country Club Proximity to the major Los Angeles employments hubs of West Los Angeles, Santa Monica, Silicon Beach (Santa Monica, Venice, Marina del Rey, Playa del Rey & Playa Vista), Century City, Beverly Hills, Culver City, South Bay and Downtown Los Angeles San Vicente Boulevard Short walk to numerous Brentwood shops and restaurants on San Vicente Boulevard Minutes to Santa Monica and Westwood Easy access to the 405 Freeway and 10 Freeway DEMOGRAPHICS* (within a 1 mile radius) Subject Site BRENTWOOD Barrington Avenue Brentwood Shopping District Est. Population Growth from % Est. Average Household Income $92,735 Est. Average Housing Value $731,254 Est. Population with Bachelor s Degree or Higher 67.8% Est. Population with a White Collar Job 82.7% Wilshire Boulevard *Source: Nielson PAGE 6

7 AREA RETAIL MAP Local Restaurants & Retail Amenities within walking distance of The Wilshire Brentwood Tower S Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave 1. Joe s Gym 2. India s Oven Tony Maroni s Pizza 3. Cafe Rockenwagner 4. The Palace Seafood & Dim Sum My Fit Foods RETAIL Enzo & Angela Italian Restaurant 1. Joe's Gym 5. Bandera 2. India's Oven 6. Pilates Tony Maroni's Platinum Pizza 3. Thai Café Bamboo Rockenwagner Cuisine 4. Speed The Palace X Seafood & Dim Sum, My Fit Foods, 7. Pure Enzo & Barre Angela Italian Restaurant 5. CorePower Bandera Yoga 6. Subway Pilates Platinum, India s Thai Bamboo Tandoori Cuisine Speed X 7. Pho Pure 99 Barre, Yen CorePower Sushi Yoga & Sake Bar 8. Cabo SubwayCantina India's Tandoori 9. Bur Haus Pho Yen Q s Sushi Billiards & Sake Club Bar & 8. Cabo Restaurant Cantina Bru Wahoo s Haus Fish Tacos 10. Q's Billiards Club & Restaurant Wahoo's Sugarfish Fish Tacos 12. Sugarfish, Soul Cycle Soul NY Cycle, Bagel Co. NY Bagel Co. 13. Tavern 13.Tavern 14. Toscana Toscana 15. Coral Tree Café Cafe 16. Palmeri Ristorante Barney's Gourmet Hamburgers 17. Barney s Gourmet 18. Juice Crafters Hamburgers 34 S Bundy Dr Dr 33 Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Montana Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave San Vicente Blvd 30 San Vicente Boulevard 32 Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Gorham Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave 18. Juice Crafters 19. Chipotle 20. Coffee Bean & Tea Leaf 21. Sor Tino 22. Dry Bar Circuit Works Daily Grill Taiko California Pizza Kitchen 19. Chipotle Ron Herman 20. Coffee Bean & Tea Leaf 21. BCBG Sor Tino Starbucks Dry Bar 24. Pinkberry Circuit Works Daily Grill 25. Susie TaikoCakes 26. Yogurtland California Pizza Kitchen 27. Fresh Ron Herman Brothers Burger BCBG Lounge 23. Starbucks 24 La Pinkberry Scala 25. Kinetic Susie Cakes Cycling 26. Chin Yogurtland Chin 27. Fresh Brothers 28. Whole Foods Burger Lounge 29. Peet s La Scala Coffee & Tea 30. Pizzicotto Kinetic Cycling 31. Gaucho Chin ChinGrill 28. Whole Foods Subway Peet's Coffee and Tea Katsuya Pizzicotto Jamba Gaucho Juice Grill 32. Subway Noah s Bagels 33. Katsuya 34. Souplantation Jamba Juice 35. CVS Noah's Pharmacy Bagels 36. Vincenti Souplantation Ristorante 35. CVS Pharmacy 36. Vincenti Ristorante Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy Dorothy St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St St Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Mayfield Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave S Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Westgate Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Darlington Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave BRENTWOOD Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Kiowa Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Goshen Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Barrington Avenue S Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Barrington Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Wilshire Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Blvd Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Granville Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Stoner Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Barry Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave Ave feet Wilshire Boulevard San Vicente Boulevard SUBJECT PROPERTY PAGE 7

8 GREATER LOS ANGELES MAP BEL AIR WEST HOLLYWOOD HOLLYWOOD BEVERLY HILLS BRENTWOOD WESTWOOD SANTA MONICA WEST LOS ANGELES SUBJECT SITE CENTURY CITY DOWNTOWN LOS ANGELES CULVER CITY VENICE MARINA DEL REY PLAYA VISTA PLAYA DEL REY LOS ANGELES INTERNATIONAL AIRPORT SOUTH BAY PAGE 8

9 EXCITING RECENT NEIGHBORHOOD SALES TRANSACTIONS SUBJECT SITE Wilshire Boulevard Zoning: [Q]C2-2-CDO FAR: 6:1 Height Limit: None Peet s Coffee & Tea Outlet Site San Vicente Boulevard Zoning: C1.5-1VL FAR: 1.5:1 Height Limit: 45 from highest grade Sold for: $1,352 per FAR SF The Early World Site San Vicente Boulevard Zoning: C1.5-1VL FAR: 1.5:1 Height Limit: 45 from highest grade Sold for: $551 Per FAR SF For more information about these sale transactions please see the LA Times article on the following page. PAGE 9

10 LA TIMES ARTICLE FAMED BRENTWOOD SITE SOLD, OCTOBER 22, 2014 Please see the adjacent article regarding the recent sale of an infamous ±12,000 SF site on San Vicente Boulevard in the Brentwood submarket, just 0.4 miles from the Wilshire Boulevard development site (just down Barrington Avenue). It is important to consider the following as you read this article: The two parcels which comprise the referenced site (AP Numbers & ) equal a total of ±12,332 square feet of land. According to the article, the estimated purchase price was approximately $25,000,000, which would equate to $2,027 per square foot for the land. The parcels of the referenced site are both zoned C1.5-1VL, which allows for residential and commercial uses, but only at 1.5:1 FAR. The allowable FAR would be ±18,498 square feet total. At the estimated purchase price of approximately $25,000,000 this equates to $1,352 per FAR square foot. The Wilshire Boulevard site allows for a 6:1 FAR and a variety of uses, from residential and commercial to office and/or hotel. The Early World site referenced in the article ( San Vicente Boulevard, zoned C1.5-1VL) recently sold to Rick Caruso for $551 per FAR square foot. C1.5-1VL has a height restriction of 45 from highest grade. There is no height limit at the Wilshire Boulevard site. The address listed in the article is not accurate. The Peet s Coffee & Tea outlet and the associated center is located at San Vicente Boulevard. The article mentions that the referenced site was bought for redevelopment purposes; however, the building envelope for that property is much less than the building envelope available for Wilshire Boulevard. PAGE 10

11 SOLD APARTMENT BUILDING COMPARABLES SELECT APARTMENT BUILDING SALES COMPARABLES Criteria: Select properties located in Los Angeles County, 50 units or more, sold 11/1/13-8/29/14 Source: CoStar, sorted by price per square foot Property Address City Zip Code Units Sale Price $/SF Bldg SF Built Sale Date 914 S Wilton Pl (Part of Portfolio) Los Angeles $29,001,030 $1,058 54, /31/ Irolo St (Part of Portfolio) Los Angeles $23,750,844 $922 51, /31/ Maxella Ave Marina Del Rey $167,318,750 $ , /27/ Newhall Ranch Rd (Part of Portfolio) Santa Clarita $52,503,082 $ , /31/ Wilshire Blvd Los Angeles $52,571,000 $616 85, /31/ Silver Aspen Way (Part of Portfolio) Valencia $65,349,581 $ , /31/ Wilshire Blvd Los Angeles $283,000,000 $ , /24/ W Sunset Blvd Los Angeles $92,700,000 $ , /6/ E Broadway Glendale $70,500,000 $ , /20/2014 PAGE 11

12 SOLD CONDOMINIUM COMPARABLES SELECT CONDOMINIUM SALES COMPARABLES Criteria: Select units sold in West Los Angeles and Beverly Hills, built 2004 or newer, sold since 2/7/14, in excess of $790/SF Source: The MLS, Sorted by Price Per Square Foot Property Address City Zip Bd Ba Sales Price SF $/SF Built Sale Date 225 N Canon Dr #8A Beverly Hills $11,346,307 3,820 $2, /20/ Club View Dr #12N Los Angeles $6,218,000 3,813 $1, /11/ W Century Dr #29B Los Angeles $5,250,000 3,446 $1, /27/ W Century Dr #35A Los Angeles $6,750,000 4,497 $1, /3/ W Century Dr #4A Los Angeles $6,950,000 4,660 $1, /1/ W Century Dr #25C Los Angeles $4,700,000 3,237 $1, /1/ W Century Dr #34D Los Angeles $3,275,000 2,280 $1, /14/ W Century Dr #25B Los Angeles $5,100,000 3,585 $1, /20/ W Century Dr #24B Los Angeles $5,100,000 3,585 $1, /27/ W Century Dr #33D Los Angeles $3,225,000 2,280 $1, /6/ W Century Dr #29D Los Angeles $3,200,000 2,280 $1, /14/ W Century Dr #20A Los Angeles $5,000,000 3,597 $1, /8/ W Century Dr #26A Los Angeles $4,975,000 3,597 $1, /14/ W Century Dr #20C Los Angeles $4,325,000 3,237 $1, /18/ W Century Dr #23C Los Angeles $4,300,000 3,237 $1, /15/ W Century Dr #24A Los Angeles $4,750,000 3,597 $1, /7/ W Century Dr #34C Los Angeles $3,600,000 2,739 $1, /14/ W Century Dr #18A Los Angeles $4,525,000 3,455 $1, /26/ W Century Dr #28D Los Angeles $2,950,000 2,280 $1, /25/ W Century Dr #32C Los Angeles $3,500,000 2,739 $1, /21/ W Century Dr #15A Los Angeles $4,400,000 3,455 $1, /17/ W Century Dr #20D Los Angeles $3,200,000 2,520 $1, /27/ N Oakhurst Dr #502 Beverly Hills $2,635,000 2,134 $1, /1/ N Oakhurst Dr #505 Beverly Hills $2,525,000 2,134 $1, /2/ N Oakhurst Dr #506 Beverly Hills $2,700,000 2,285 $1, /2/2014 Continued on next page... PAGE 12

13 SOLD CONDOMINIUM COMPARABLES 1 W Century Dr #12D Los Angeles $2,850,000 2,500 $1, /30/ W Century Dr #26D Los Angeles $2,850,000 2,520 $1, /8/ W Century Dr #11D Los Angeles $2,750,000 2,448 $1, /4/ N Oakhurst Dr #504 Beverly Hills $2,425,000 2,170 $1, /11/ th St #101 Santa Monica $1,800,000 1,827 $ /25/ Wilshire #1203 Los Angeles $2,603,750 2,735 $ /3/ st St #102 Santa Monica $1,417,496 1,492 $ /30/ Ocean Park Blvd #C Santa Monica $1,714,000 1,844 $ /25/ Wilshire Blvd #603 Los Angeles $2,450,000 2,735 $ /1/ th Street #104 Santa Monica $1,400,000 1,564 $ /11/ Wilshire #1101 Los Angeles $2,530,000 2,837 $ /30/ th St #F Santa Monica $1,649,000 1,850 $ /20/ Wilshire #1503 Los Angeles $2,432,500 2,735 $ /30/ N Oakhurst Dr #405 Beverly Hills $1,849,000 2,134 $ /25/ Wilshire #803 Los Angeles $2,329,000 2,772 $ /7/ th Street #104 Santa Monica $1,440,000 1,732 $ /18/ Wilshire #601 Los Angeles $2,275,000 2,837 $ /14/ W Century Dr #3B Los Angeles $2,700,000 3,404 $ /13/2014 PAGE 13

14 DEVELOPMENT PIPELINE Criteria: Projects located in 90025* Source: Axiometrics Development Pipeline, August 2014, sorted by unit count WEST LOS ANGELES DEVELOPMENT SUMMARY Project Name Address City Zip Levels Developer Units Stage Status The Landmark Apartments Former Buerge Ford Notting Hill Apartments Wilshire Blvd Los Angeles Douglas Emmett Inc Santa Monica Blvd SEC Sawtelle Blvd and Missouri Ave *No development activity found in fitting this criteria. 376 Planning Master Planning Los Angeles Planning Proposed Pending Los Angeles Notting Hill, LLC 53 Planning Master Planning TOTAL: 586 Start Date Completion Date Last Update Type TBA TBA 6/27/2014 Podium TBA TBA 7/2/ TBA TBA 5/22/2014 Podium Subject Site PAGE 14

15 RENT COMPARABLES Subject Site Layout ID:L01 MapId: PAGE 15

16 RENT COMPARABLES SELECT RENT COMPARABLES COMPARABLE 1 ASHTON WESTWOOD Wilshire Boulevard PH 3% Los Angeles, CA Year Built: 2010 Units: 58 Occupancy: 98% Phone: PHOTO % % Owner: UDR Manager: UDR Type Number of Units Unit Square Feet Effective Rent ,030-1,512 $5,569 - $8, ,551-1,878 $7,300 - $8, PH 2 2,481-2,891 $12,000 - $14,000 Concessions: 9% off market rates on all units, 16% off market rate on select 2BD/2BA, plus an additional $750 off of move-in. Amenities: Granite Countertops Lounge In-door Storage Central Air & Heat Fitness Center W/D In Unit Rooftop Deck Dog Park Stainless Steel Appliances COMPARABLE 2 THE BW 1168 S Barrington Ave Los Angeles, CA Year Built: % TH Units: 78 32% PHOTO Occupancy: 97% % Phone: Owner: California Landmark Group TH Manager: CLG - The BW 13% Type TH TH Number of Units Unit Square Feet Effective Rent 25 1,033-1,033 $4,199 - $4, ,450 $4,200 - $4, ,800 $3,749 - $6, ,475-1,500 $5,200 - $6,500 Amenities: Rooftop Lounge Fitness Center Valet Marble Backsplash Carpeted Bedrooms Unit Alarms Jacuzzi Business Center Stainless Appliances Soaking Tubs W/D In-Unit Rooftop Kitchen Concierge Stone Counters Plank Flooring Walk-In Closets PAGE 16

17 RENT COMPARABLES SELECT RENT COMPARABLES LUXE VILLAS Mayfield Ave Los Angeles, CA Year Built: 2006 Units: 59 Occupancy: 98% Phone: Owner: NMS Properties, Inc. Manager: NMS Properties Luxe Villas COMPARABLE 3 PHOTO % Type Number of Units Unit Square Feet Effective Rent ,380 $3,295 - $4,595 Amenities: Rooftop Lounge Storage Parking Garage Wood Style Flooring W/D In-Unit Fitness Center Courtyard Balconies Carpet Flooring Controlled Access Cabana Granite Counters Stainless Appliances COMPARABLE 4 PALAZZO WESTWOOD VILLAGE 1060 Glendon Ave Los Angeles, CA Year Built: 2008 Units: 350 Occupancy: N/A Phone: Owner: Clarion Partners PHOTO TH 11% TH 16% % % TH 5% Manager: Riverstone - Palazzo Westwood Type TH TH TH Number of Units Unit Square Feet Effective Rent $2,533 - $3, $3,010 - $3, ,400 $3,063 - $4, ,319-1,511 $3,699 - $5, ,500-1,709 $4,876 - $5,925 Amenities: Infinity Pool Jacuzzi Clubhouse Private Terraces W/D In-Unit Walk-In Closets Sundeck Steam Room Concierge 9' - 18' Ceilings Dual Vanities Stainless Appliances Dry Sauna Fitness Center Fireplace Granite Counters Wood Style Flooring PAGE 17

18 RENT COMPARABLES SELECT RENT COMPARABLES THE LEGACY WESTWOOD Wilshire Boulevard Los Angeles, CA Year Built: 2000 Units: 187 Occupancy: 96% Phone: Owner: TIAA-CREF Manager: Riverstone Residential Group COMPARABLE 5 PHOTO % % % Type Number of Units Unit Square Feet Effective Rent $3,420 - $4, ,146-1,618 $4,292 - $5, ,553-1,775 $4,576 - $9,536 Concessions: $400 off 1BR and $ off 2 BR with 12-month lease Amenities: Caesarstone Countertops Laundry Facilities Conceirge Stainless Steel Appliances Central Air & Heat Spa Swimming Pool W/D In Unit Business Center Ftiness Center Private Balcony/Patio COMPARABLE 6 WILSHIRE MARGOT Wilshire Boulevard % Los Angeles, CA % Year Built: Units: 94 PHOTO 33% Occupancy: 97% Phone: % Owner: NMS Properties Manager: NMS Properties Type Number of Units Unit Square Feet Effective Rent $2, $3,295 - $3, ,110-1,420 $4,795 - $5, ,470-1,600 $5,795 - $6,595 Concessions: None Amenities: Granite Countertops Rooftop Lounge Business Center W/D In Unit Central Air & Heat Fitness Center Controlled Access Central A/C Conceirge Sauna Stainless Steel Appliances Private Balcony/Patio PAGE 18

19 RENT COMPARABLES SELECT RENT COMPARABLES COMPARABLE 7 BROADWAY LUXURY APARTMENTS 1502 Broadway St Santa Monica, CA Year Built: 2012 Units: 32 Occupancy: 100% Phone: PHOTO TH 38% % Owner: NMS Properties, Inc. Manager: NMS - Broadway Luxury Apartments Type TH Number of Units Unit Square Feet Effective Rent $3, ,071-1,283 $3,795 - $5,995 Amenities: Controlled Access Granite Counters Hardwood Floors Parking Garage W/D In-Unit Balconies Stainless Appliances Central A/C 2014 CB Richard Ellis, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make 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. PAGE 19

20 RETAIL LEASE COMPARABLES Subject Site 2014 CBRE Limited. Data TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the Information ) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as CBRE ). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. Layout ID:L04 MapId: PAGE 20

21 RETAIL LEASE COMPARABLES Address San Vicente Blvd Los Angeles, CA Barrington Ct Los Angeles, CA San Vicente Blvd Los Angeles, CA San Vicente Blvd Los Angeles, CA Barrington Ct Los Angeles, CA Property Type Retail Retail Retail Retail Retail Property Subtype Neighborhood Center Street Retail Street Retail Retail (Other) Street Retail Zoning LAC1.5 LAC2 LAC4 LAC1 LAC2 Building Size 157,265 SF Bldg 5,000 SF Bldg 96,283 SF Bldg 12,840 SF Bldg 4,080 SF Bldg Year Built No. Stories Lot Size 34,228 SF 5000 SF 67,416 SF 14,280 SF 2,250 SF APN / Parcel ID Space Available 606-1,780 SF 2,933 SF 1,741-2,140 SF 425 SF 1,000 SF Asking Rent $ $7.00 /SF/Mo $6.50 /SF/Mo $4 - $6.25 /SF/Mo $6 /SF/Mo $6.25 /SF/Mo Spaces 4 Spaces 1 Space 2 Spaces 1 Space 1 Space PAGE 21

22 LOCATION OVERVIEW BRENTWOOD The Wilshire Brentwood Tower development site is situated west of the 405 freeway, where West Los Angeles meets Brentwood. Located at the intersection of Wilshire Boulevard and Barrington Avenue, the property enjoys convenient access to a variety of surrounding retail, restaurants and other amenities. This affluent neighborhood with a median income of $112,927 features an abundance of upscale retail stemming from the intersection of San Vicente Boulevard and Barrington Avenue. Located further north on Barrington Avenue and directly south of Sunset Boulevard is Brentwood Village, which features an additional collection of shops and restaurants in Brentwood. The nearby areas of West Los Angeles, Santa Monica, Westwood, the Wilshire Corridor and Century City are within minutes of the property and can be accessed via the surrounding major thoroughfares of Wilshire Boulevard and Santa Monica Boulevard. Brentwood is connected to the greater Los Angeles basin and beyond via the San Diego Freeway (405), the Santa Monica Freeway (10), and the Hollywood Freeway (101). These freeways provide access to greater Los Angeles, Orange County, San Diego, the Inland Empire, Ventura, Santa Barbara and northern California. Los Angeles International Airport and Santa Monica Municipal Airport (for private aircraft) are located within convenient driving distance south of Brentwood; Burbank Bob Hope International Airport, Million Air Private Aviation Services, and Hangar 25 are within a 30-minute drive to the north. In general, the Brentwood area benefits from its proximity to the Pacific Ocean, which is approximately 3.5 miles from The Wilshire Brentwood Tower development site. This location provides more favorable weather conditions than inland areas and, thus, increases both the residential and commercial desirability of the area. Accessibility to the area will increase with the completion of Phase 2 of the Metro Expo line s Exposition Transit Corridor, which will provide a new metro station just east of the property at the VA Hospital. PAGE 22

23 LOCATION OVERVIEW SANTA MONICA Santa Monica is located blocks west of The Wilshire Brentwood Tower development site. Santa Monica is centered on three miles of wide, sandy white beaches making it the ultimate beach destination in Southern California for residents and visitors alike. Santa Monica attracts a daytime workforce of over 290,000 people due to a large concentration of media and entertainment companies, such as Yahoo!, HBO, Hulu, Universal Music, Amazon, CBS, Riot Games, Red Bull, Google, Sony, and Lionsgate Entertainment, inhabiting more than five million square feet of Class A and creative office space. The Wilshire Brentwood Tower development site is located just a short drive away from three of Santa Monica s most popular retail areas including Third Street Promenade, Santa Monica Place and Montana Avenue. WESTWOOD Westwood is located just east of The Wilshire Brentwood Tower develpoment site and is home to UCLA, which has an enrollment of around 42,000 students, and the popular shopping area of Westwood Village. Westwood Village tenants include Urban Outfitters, Victoria s Secret, American Apparel, Chipotle, Starbucks, Peet s, The Coffee Bean & Tea Leaf, CVS, Trader Joe s, Veggie Grill and Whole Foods Market. Along Wilshire Boulevard, bounded by Sepulveda to the west and Beverly Glen to the east, are 12 office buildings comprising 3.6 million square feet of gross leasable area, housing nearly 10,000 jobs. This submarket is home to prestigious employers including Showtime, Northern Trust, KB Home, Triton Pacific Capital Partners, Pardee Homes, Oppenheimer and Occidental Petroleum. Santa Monica Beach View of Westwood Village and UCLA in the background. PAGE 23

24 LOCATION OVERVIEW WILSHIRE CORRIDOR Pacific Ocean The winding two-mile section of Wilshire Boulevard to the east of Westwood Village and stretching to Beverly Hills is dominated by residential highrises, and is variously known as the Millionaire s Mile, the Golden Mile or the Wilshire Corridor. With average home prices of over $2 million in Westwood, the disparity in the cost of home ownership versus renting is further enhancing the demand for luxury rental lifestyle product. SANTA MONICA Subject Property BRENTWOOD CENTURY CITY WESTWOOD The neighborhood of Century City was developed on property used by 20th Century Fox for making motion pictures, and its first building was opened in Since then Century City has become a prominent business community comprised of major industry sectors including legal, financial, entertainment, hospitality, medical, professional and retail services, which occupy approximately 10 million square feet of Class A office space. At the heart of Century City is the Westfield Century City Mall, which features an AMC Theater, and is anchored by Bloomingdales, Macy s and Gelson s Supermarket. Wilshire Corridor BEVERLY HILLS Beverly Hills is one of the most celebrated and in-demand destinations in the world. Beverly Hills contains some of the most exclusive, private luxury residences in the world, with home prices among the highest in greater Los Angeles and the United States. With an economy near $20 billion annually, Beverly Hills ranks first among mid-to-large sized cities in the United States for retail sales per capita. Some of Los Angeles s largest private equity and venture capital firms are located in Beverly Hills. Additionally, the professional, business services and entertainment related industries create a significant positive financial impact in the city. Also, there are numerous smaller agencies, law firms, producers and directors with offices in Beverly Hills. PAGE 24

25 ACCESS TO MAJOR EMPLOYMENT HUBS WEST LOS ANGELES The Westside of Los Angeles, including Century City and Culver City, is home to over 600,000 employees. 20th Century Fox, MGM and Sony Pictures, three of the largest movie studios in the world, are all located on the Westside. Legal, financial, entertainment, hospitality, medical, professional and retail services firms occupy approximately 10 million square feet of Class A office space in Century City alone. Beats Audio, National Public Radio West, the NFL Network and Sony Pictures Entertainment, which employs around 6,000 employees, are all headquartered in Culver City. UCLA (the seventh largest employer in Southern California), St Johns Medical Center, Cedars-Sinai Medical Center and Kaiser Foundation Hospital are located on the Westside as well. SANTA MONICA Century City Santa Monica attracts a daytime workforce of over 290,000 people due to a large concentration of media and entertainment companies, inhabiting more than five million square feet of Class A and creative office space. Just two miles from The Wilshire Brentwood Tower development site, at the corner of Colorado Boulevard and Cloverfield Boulevard is Santa Monica s main employment center. Yahoo!, HBO, Hulu, Universal Music, Amazon, CBS, Riot Games, Red Bull, Sony, and Lionsgate Entertainment are all located in this area. Two notable office developments are located here - The Water Garden and Yahoo! Center. The Water Garden is a 17 acre Class A trophy suburban office complex totaling 1,270,000 square feet of office space. Just across the street from The Water Garden is the Yahoo! Center which is a 15 acre Class A office complex totaling 1,185,120 square feet. The Water Garden, Santa Monica PAGE 25

26 ACCESS TO MAJOR EMPLOYMENT HUBS SILICON BEACH Silicon Beach is located just 10 minutes from The Wilshire Brentwood Tower development site. This area, spanning through Santa Monica, Venice, Marina del Rey and Play Vista has become the center of Los Angeles tech awakening. Silicon Beach is home to established giants Google and Apple, and is also where some 5,000 startup ventures have taken root. Other notable companies that are located in Silicon Beach include Facebook, Microsoft, YouTube, Electronic Arts, Sony, Fox Sports, Belkin, TBWA\Chiat\Day and Deutsch. Additionally, there are numerous prominent tech, brand & media companies who are shopping for large amounts of office space in Playa Vista. Most notably Amazon, Riot Games, Red Bull and The Rubicon Project are all very close to, or have already signed long term leases in the area. SOUTH BAY The South Bay, including El Segundo, is a 20 minute drive from The Wilshire Brentwood Tower development site and has nearly half a million employees. El Segundo is the major business center of the South Bay, with 19 Fortune 500 companies headquartered here.* Top employers in El Segundo include Raytheon Space and Airborne Systems, Northrop Grumman, Boeing, The Aerospace Corporation, DirecTV, Mattel, Chevron, Accenture, Rhythm & Hues, International Rectifier, Xerox, Time Warner Cable, Big 5 Sporting Goods, Teledyne Controls and Internet Brands. Other companies located in the South Bay include Lockheed Martin, Toyota, Honda, BP, Chevron, ExxonMobil and Shell. El Segundo Los Angeles International Airport 405 SOUTH BAY Playa Vista Marina del Rey Venice Pacific Ocean Santa Monica Subject Property *Source: El Segundo Business PAGE 26

27 WESTSIDE SUBWAY EXPANSION The Los Angeles Metro $6.29 billion subway Purple Line extension project from Western Avenue to Westwood s VA hospital via Wilshire Boulevard is underway. Construction has commenced on the four-mile first phase to the eastern edge of Beverly Hills at Wilshire/La Cienega. Additional stops will include Wilshire/Rodeo, Century City and Westwood UCLA. Expected project completion is in 2036; if federal loans (through the 30/10 project) are secured, the subway extension will be accelerated and completed as a single project by 2022 or As of February 2014, the project is out of the EIR phase. Subject Property PAGE 27

28 RETAIL DESTINATIONS The Wilshire Brentwood Tower development site is surrounded to the east and west by Los Angeles most popular shopping areas including the Brentwood Shopping District on San Vicente Boulevard, Brentwood Village, Westwood Village, Montana Avenue, Third Street Promenade, Santa Monica Place, Abbot Kinney, Westfield Century City Mall, Rodeo Drive and Westside Pavilion. BRENTWOOD SHOPPING DISTRICT Located less than half a mile from The Wilshire Brentwood Tower develpoment site is the intersection of Barrington Avenue and San Vicente Boulevard the epicenter of the upscale Brentwood Shopping District. Notable tenants include Soul Cycle, Dry Bar, Tavern, Toscana, Coral Tree Café, California Pizza Kitchen, Katsuya, Whole Foods Market, Yogurtland, Susie Cakes, Starbucks, Coffee Bean & Tea Leaf, Noah s Bagels and Jamba Juice. BRENTWOOD VILLAGE Located further north on Barrington Avenue and directly south of Sunset Boulevard is Brentwood Village, which features an additional collection of shops and restaurants in Brentwood. Popular tenants include Lemonade, Paige Denim, Starbucks, Burn 60, Le Pain Quotidien, Divino, Bellacures, and Brentwood Restaurant and Lounge. WESTWOOD VILLAGE Just a mile and a half east of The Wilshire Brentwood Tower development site is the popular shopping area of Westwood Village located just north of Wilshire Boulevard and bordering the University of California, Los Angeles. Notable Westwood Village tenants include City Target, Urban Outfitters, Victoria s Secret, American Apparel, Chipotle, Starbucks, Peet s, The Coffee Bean & Tea Leaf, CVS, Trader Joe s, Ralphs, Veggie Grill and Whole Foods Coral Tree Cafe, Brentwood Brentwood Village Westwood Village PAGE 28

29 RETAIL DESTINATIONS MONTANA AVENUE Located east of the property in Santa Monica, Montana Avenue features a ten block shopping area home to more than 150 high-end shops and restaurants just minutes from the ocean. Visitors can enjoy shopping at Benefit, LF, Planet Blue, ABS, William Sonoma, Kiehl s among several other shops. There is also an abundance of restaurants and cafes located along Montana Avenue including popular spots R & D Kitchen, Blue Plate, Art s Table, Café Montana, Kreation and Father s Office. SANTA MONICA PLACE Located at the south end of the Promenade, Santa Monica Place features upscale shopping and dining. Anchored by Bloomingdales and Nordstrom, Santa Monica Place also features Louis Vuitton, Burberry, Tory Burch and Barney s New York. There are over ten restaurants to choose from, a food court, as well as The Market at Santa Monica Place which features a collection of artisanal gourmet food offerings. THIRD STREET PROMENADE Montana Avenue ABBOT KINNEY Santa Monica Place Third Street Promenade in Santa Monica is located three miles west of The Wilshire Brentwood Tower development site. Starting at Wilshire Boulevard and ending at Broadway, Third Street Promenade provides visitors an upscale al fresco shopping, dining and entertainment experience. Dining options include Trastevere, Barney s Beanery, ShopHouse, Johnny Rockets, Locanda Del Lago, Monsieur Marcel, Loteria! Grill, Chipotle and Monsoon Cafe. The Promenade features popular retailers including Barnes & Noble, Anthropologie, J. Crew, Banana Republic, Restoration Hardware, Apple, Gap, Zara, Sephora, H & M and Apple. Recently ranked by GQ as The Coolest Street in America, Abbot Kinney is located southwest of The Wilshire Brentwood Tower development site in Venice Beach. The six-block stretch includes merchants with artisan-made furniture, a custom perfumer, genuine junk shops, Midcentury Modern dealers and more. Many of Los Angeles finest restaurants are located here as well, such as Tasting Kitchen, Gjelina, Joe s, Primitivo Wine Bistro, Hal s Bar and Grill and many others. PAGE 29

30 RETAIL DESTINATIONS WESTFIELD CENTURY CITY MALL At the heart of Century City is the Westfield Century City Mall, which features an AMC Theater, and is anchored by Bloomingdales, Macy s and Gelson s Supermarket. Other notable tenants include Apple, Louis Vuitton, Tiffany & Co., Sephora, See s Candies, Chipotle, Pinkberry, Gulfstream, Coffee Bean & Tea Leaf, Kitson, Seasons 52, Yogurtland and Zara. Westfield Century City Mall is set to complete at $700 million upgrade in The upgrade hopes to make Westfield Century City Mall an international landmark shopping destination. Plans call for 422,000 square feet of new retail space, a total of 220 shops and restaurants, eight acres of outdoor space, 20 new residences across ten floors and a total of 4,700 parking spaces. RODEO DRIVE New Westfield Century City Mall Rendering Rodeo Drive, with its international prestige and reputation, is the destination retail street in Los Angeles. Located in Beverly Hills less than five miles east of The Wilshire Brentwood Tower development site, Rodeo Drive boasts a plethora of recognized luxury goods and high fashion retailers including Chanel, Prada, Louis Vuitton, Escada, Gucci, Valentino, Armani, Versace, Dior, Cartier and Tiffany. The Rodeo Collection and Two Rodeo Drive are specialty retail centers situated in this exclusive retail district. WESTSIDE PAVILION MALL The Westside Pavilion shopping mall is located east of The Wilshire Brentwood Tower development site in West Los Angeles. The mall features 150 shops, a 12 screen Landmark movie theater and is anchored by Macy s and Nordstrom. Notable tenants include Banana Republic, BCBG, Forever 21, H & M, See s Candies, Sunglass Hut, The Coffee Bean & Tea Leaf and Urban Home. Rodeo Drive, Beverly Hills PAGE 30

31 COMMUNITY, CULTURE & RECREATION Future residents of The Wilshire Brentwood Tower will enjoy numerous community, cultural and recreational amenities located just a short drive away from the property. THE GETTY CENTER Located in Brentwood the Getty Center is one of two locations of the J. Paul Getty Museum. The Center attracts 1.3 million visitors annually and is one of the most visited museums in the United States. The collection at the Center includes pre-20th century European paintings, drawings, illuminated manuscripts, sculptures and decorative arts, as well as 19th and 20th century American and European photographs. Notable works include Arii Matamoe by Paul Gauguin and Irises by Vincent Van Gogh. The Center also features a 134,000 square foot Central Garden designed by Robert Irwin. SKIRBALL CULTURAL CENTER The Skirball Cultural Center is one of the world s most dynamic Jewish cultural institutions. Open to the public since 1996, the Center is dedicated to exploring connections between Jewish heritage and American democratic ideals. The Center includes a museum, performing arts center, conference halls, classrooms, libraries, courtyards, gardens and a café. The Getty Center Skirball Cultural Center PAGE 31

32 COMMUNITY, CULTURE & RECREATION WESTWOOD VILLAGE Located just over a mile from The Wilshire Brentwood Tower development site, Westwood Village is the main entertainment and retail center of the Westwood area of Los Angeles. Built in 1931 the landmark Fox Theater is located in Westwood Village, which hosts numerous movie premieres throughout the year. Other entertainment venues located in Westwood Village include the Geffen Playhouse, the W Los Angeles Hotel and Pauley Pavilion. Notable retailers and restaurants include 800 Degrees, City Target, In-N-Out, Ralphs Fresh Fare, Napa Valley Grille, ShopHouse, Trader Joe s, Urban Outfitters and Whole Foods Market. UNIVERSITY OF CALIFORNIA LOS ANGELES (UCLA) Located in Westwood, UCLA is a public research university and is the most popular school in the country in terms of applicants, 80,472 in The school is considered, along with UC Berkeley, to be the flagship campus in the UC system. With an approximate enrollment of 28,000 undergraduates and 12,000 graduate students, UCLA has the largest enrollment in the state of California. UCLA employs a staff of approximately 31,000. Fox Theater ARMAND HAMMER MUSEUM The Armand Hammer Museum was founded by Armand Hammer and opened in 1990 in Westwood Village. The 79,000 square foot museum showcases collections amassed by Armand Hammer, UCLA s Franklin D. Murphy Sculpture Garden and the Grunwald Center for the Graphic Arts. The museum also contains a small collection of Impressionist and Post-Impressionist pieces. UCLA s School of the Arts and Architecture manages the museum. Armand Hammer Museum PAGE 32

33 COMMUNITY, CULTURE & RECREATION SANTA MONICA PIER The Santa Monica Pier is located approximately four miles west of The Wilshire Brentwood Tower development site. The 100 year old landmark features restaurants, retail establishments, the Santa Monica Pier Aquarium and the Pacific Park amusement park. There are seven restaurants located on the pier including Pier Burger, Mariasol Cocina Mexicana, Rusty s Surf Ranch, Soda Jerks, Bubba Gump Shrimp Co., The Albright and Ristrorante Al Mare. The Santa Monica Pier Aquarium is Heal the Bay s public marine-education center, which is home to more than 100 species of marine animals and plants all found in the Santa Monica Bay. Pacific Park is the West Coast s only amusement park located on the pier. Visitors can enjoy thirteen different rides, as well as the iconic Ferris wheel. THE ANNENBERG SPACE FOR PHOTOGRAPHY Located in Century City, the Annenberg Space for Photography is Los Angeles first solely photographic cultural destination. The Space displays state of the art, high definition digital technology as well as traditional prints by some of the world s most renowned photographers and a selection of emerging talents. LOS ANGELES COUNTY MUSEUM OF ART (LACMA) LACMA is the largest art museum in the western United States and attracts nearly a million visitors annually. Located on Wilshire Boulevard in the Miracle Mile area of Los Angeles, it holds more than 120,000 works spanning the history of art from ancient times to present. The most notable displays at the LACMA include their Asian art and Latin American art collections, as well as their Islamic art collection, which is one of the most significant collections in the world. Highlights from the museum s collection include works by Rembrandt, Titian, Paul Cezanne, Paul Gauguin, Claude Monet and Pierre-Auguste Renoir. Santa Monica Pier LACMA PAGE 33

34 COMMUNITY, CULTURE & RECREATION LA BREA TAR PITS AND THE GEORGE C. PAGE MUSUEM The La Brea Tar Pits are located adjacent to the LACMA. Registered as a National Natural Landmark, the La Brea Tar Pits is one of the world s most famous fossil locations. The Page Museum showcases the fossils that have been found there. Since 1906, more than one million bones have been found representing over 231 species of vertebrates, as well as 159 species of plants and 234 species of invertebrates. The Page Museum s collection of fossils is estimated at around three million items. THE PETERSEN AUTOMOTIVE MUSEUM La Brea Tar Pits & George C. Page Museum Opened since 1994 the 300,000 square feet Peterson Automotive Museum is one of the world s largest automotive museums. The museum is dedicated to the exploration and presentation of the automobile and its impact on American life and culture using Los Angeles as the prime example. The museum displays around 150 vehicles of its 300 plus collection at a time. The remaining vehicles are located in a vault located in the basement of the building. The museum announced in 2013 that they will be renovating the museum with a complete exterior transformation and redesign of the interior. GOLF COURSES Rendering of the new Petersen Automotive Museum design. There are several golf courses located near The Wilshire Brentwood Tower development site. Brentwood Country Club is located two miles west of the property. To the west as well is Riviera Country Club, which hosts the PGA Tour s Northern Trust Open held each February. Other courses located near Wilshire Boulevard include Bel-Air Country Club, Los Angeles Country Club and Hillcrest Country Club. Brentwood Country Club PAGE 34

35 OPPORTUNITY TO PURCHASE THIS PROPERTY IN CONJUNCTION WITH 3 ADDITIONAL PROPERTIES OWNED BY THE SAME OWNER (All 4 properties can be purchased individually) 130 S. Sepulveda Boulevard, Los Angeles, CA Units Year Built: 2012 THE WILSHIRE BRENTWOOD TOWER The Village Brownstones La Tijera Boulevard, Westchester (Los Angeles), CA ±51,991 SF Development Site for 140 Units with 2,615 SF Retail & Idaho Avenue, Los Angeles, CA Units with Vesting Tentative Tract Map Year Built: 2008/under construction For more information please visit: :: Laurie Lustig-Bower Executive Vice President Lic laurie.lustig-bower@cbre.com :: Kadie Presley Wilson Senior Sales Director Lic kadie.presleywilson@cbre.com :: Jaclyn Mason Senior Marketing Director Lic jaclyn.mason@cbre.com 2014 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. 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. CBRE 1840 Century Park East Suite 900 Los Angeles, CA PAGE 35