SANTA MONICA BOULEVARD 370,000 SF Urban Power Center in Hollywood, CA

Transcription

1 5601 SANTA MONICA BOULEVARD 370,000 SF Urban Power Center in Hollywood, CA

2 PROJECT OVERVIEW A New Urban Power Center in Hollywood RETAIL SPACE ±370,000 SF RESIDENTIAL UNITS 375 WITHIN 2.5 MILES 360,000 EXPECTED DELIVERY Summer 2020 SANTA MONICA BLVD. N 25,000 CPD 5601 WILTON PL. SANTAMONICABOULEVARD 370,000 SF Urban Power Center in Hollywood ST. ANDREWS PL. 44,000 CPD 43,000 CPD WESTERN AVE. SUNSET BLVD. 239,000 CARS PER DAY 101 Freeway at Santa Monica Blvd. 2

3 PURCHASING POWER IN THE NEIGHBORHOOD OVER 360,000 PEOPLE LIVE WITHIN 2.5 MILES OF 5601 SANTA MONICA BOULEVARD 160,000 HOUSEHOLDS WITHIN 2.5 MILES 25,000+ DAYTIME EMPLOYEES WITHIN 1 MILE $5,000,000,000 IN CONSUMER SPENDING WITHIN 2.5 MILES 41,000 HOUSHOLDS WITH INCOME OF $75K+ WITHIN 2.5 MILES 9,000 HOUSEHOLDS WITH CHILDREN WITHIN 1 MILE $5 Billion in Purchasing Power within 2.5 miles of the property 3

4 INTERNATIONAL 5601SANTAMONICABLVD 370,000 SF Urban Power Center in Hollywood 101 VOID ANALYSIS With Hollywood & Highland Franklin Ave Los Feliz Blvd Hollywood Blvd MARKETPLACE INTERNATIONAL 2.5 Miles tremendous density and purchasing La Brea Ave Highland Ave Vine St Sunset Blvd Santa Monica Blvd Melrose Ave SITE WSestern Ave 3rd St Normandie Ave 1 Mile 1 Mile Vermont Ave Beverly Blvd Sunset Blvd Beverly Blvd Temple St 101 power, 5601 Santa Monica Boulevard in East Hollywood presents an outstanding opportunity for retailers to service a community in need of quality retail, restaurants and services. Due to small lot sizes and dense development, there are no comparable development opportunities that offer the size and scale of 5601 Santa Wilshire Blvd Monica Boulevard to accommodate urban big box tenants. 4

5 STREET LEVEL STREET LEVEL 25,000 CPD 33,700 SF 9,500 SF 23,000 SF 29,000 SF 7,000 SF 1,200 SF 1,200 SF 900 SF 1,000 SF 2,500 SF 1,500 SF 1,500 SF 1,500 SF 1,500 SF 1,350 SF Note: All square footages are approximate 44,000 CPD 5

6 LEVEL 2 LEVEL 2 25,000 CPD 10,400 SF 25,700 SF 21,000 SF 29,000 SF 3,000 SF 1,900 SF 2,500 SF 4,000 SF 3,100 SF Note: All square footages are approximate 44,000 CPD 6

7 LOWER LEVEL LOWER LEVEL See Page 9 for more information on the Sears Building. 25,000 CPD Note: All square footages are approximate 44,000 CPD 7

8 LOWER LEVEL LOWER LEVEL 25,000 CPD 65,000 SF 35,000 SF Note: All square footages are approximate 44,000 CPD 8

9 PARKING LEVEL 3 Virginia Ave. Parking Parking 25,000 CPD Wilton Place Comm. Residential Elevators Commercial Elevators Potential demarcation between residential and commercial parking Comm. Comm. Comm. Comm. St. Andrews Place Comm. Comm. Comm. Unexcavated Potential "flexible" parking Office Elevator Office RESIDENTIAL SETBACK AFTER DEDICATION PL ORIGINAL PL Santa Monica Blvd. 9 Note: All square footages are approximate Hollywood Marketplace Overall Plan Level P West Santa Monica Blvd 44,000 CPD - I

10 PARKING LEVEL 4 Virginia Ave. Parking Parking 25,000 CPD Wilton Place Residential Elevators Residential Elevator St. Andrews Place Public RESIDENTIAL SETBACK AFTER DEDICATION PL ORIGINAL PL Santa Monica Blvd. Note: All square footages are approximate Hollywood Marketplace West Santa Monica Blvd 44,000 CPD - Overall Plan Level P4 I

11 PARKING LEVEL 5 Virginia Ave. 25,000 CPD Wilton Place St. Andrews Place RESIDENTIAL SETBACK AFTER DEDICATION PL ORIGINAL PL Santa Monica Blvd. Note: All square footages are approximate Hollywood Marketplace West Santa Monica Blvd 44,000 CPD - Overall Plan Level P5 I

12 SEARS BUILDING This landmark building is approximately 116,000 square feet on four floors. Originally designed for Sears, the building has exceptional loading and vertical transportation. It may be leased by one tenant or multiple tenants with floorplates of approximately 29,000 square feet. The rooftop will be a ±20,000-square foot publicly accessible park with lush plantings, walkways, benches, and seasonal programming for the community to enjoy. SEARS BUILDING FEATURES High visibility strong position on corner with visibility from a distance Original freight elevator to be refurbished Escalator access between Basement, Street Level, and Level 2 Direct access to rooftop park Level 2 Level 3 SEARS BUILDING DATA Level Size (SF) Ceiling Height Level 3 ±29, Level 2 ±29, Level 1 (Street) ±29, Basement ±29, Total Building SF ±116,000 P1 / Basement Street Level 12

13 AERIAL VIEW WESTERN AV. 43,000 CPD 44,000 CPD ST. ANDREWS PL. SANTA MONICA BLVD. 25,000 CPD VIRGINIA AVE. 38 MF Units Under Development 24 MF Units Under Development ST. ANDREWS PL.. 370,000 SF Retail 375 MF Units N WILTON PL. 13 Kennedy Wilson Properties, Ltd. (Responsible Broker, CalBRE # ) and CBRE make no warranty or representation as to the accuracy of the information contained herein. Terms of sale or lease and availability of the property are subject to change or withdrawal without notice.

14 5601 SANTAMONICABOULEVARD 370,000 SF Urban Power Center in Hollywood HOLLYWOOD, CA Sunset Gower Studios Sunset Gordon LOS FELIZ 0.25 Miles Hollywood & Highland 1 Mile Pantages Theatre HOLLYWOOD West Hollywood Gateway Metro Red Line W Hotel & Condos N HANCOCK PARK LOCATION. LOCATION. LOCATION Santa Monica Boulevard is located along one of Hollywood s most heavily trafficked thoroughfares and is within three blocks of the Hollywood (101) Freeway. This eminently accessible location is further enhanced by its proximity to Western Avenue, one of the primary north south arterials in Los Angeles. Encompassing an entire city block, between Wilton Pl. and Virginia Ave. - both with signalized intersections - the convenience, accessibility and visibility of the property position it uniquely to capture Hollywood s expansion east. Amoeba Music Sunset Junction Paramount Pictures LA City College Barnsdall Art Park 14 This document has been prepared by Kennedy Wilson Properties, Ltd. and CBRE ("Brokers") for advertising and general information only. Brokers do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Brokers exclude unequivocally all inferred or implied terms, conditions and warranties arising out of this document and exclude all liability for loss and damages arising there from.

15 East Hollywood: The Next "There" Neighborhood redevelopment is moving east. Over the last 20 years, Los Angeles' reputation as a sprawling sea of suburbia has changed, with many urban neighborhoods embracing vertical development and density. Areas like Downtown L.A., Culver City, Silverlake, Old Pasadena, and Santa Monica have all become exciting places to live, work, and play. Perhaps no area of Los Angeles has experienced more positive change than Hollywood. Starting in West Hollywood and relentlessly moving east and north into Central and North Hollywood, scores of new multifamily and commercial developments have revitalized these neighborhoods into trendy, upscale communities. As this urbanization and resurgence moves east, the next area primed for redevelopment is East Hollywood. Rendering by Togawa Smith Martin, Inc. 15

16 STRONG DAYTIME EMPLOYMENT 18,500 Employees Within One Mile 1 Mile 5601 SANTAMONICABOULEVARD 370,000 SF Urban Power Center in Hollywood Sources: CBRE Mapping Services; Nielsen StreetPro; CoStar 16

17 SURROUNDING DEVELOPMENT # PROJECT UNITS COMMERCIAL ADDRESS COMPLETE 1 Hollywood Target 200,000 SF Retail 5520 Sunset Blvd. TBD 2 Columbia Square ,000 SF Office 1550 N. El Centro Sunset Bronson Studios 425,000 SF Office 5808 Sunset Blvd PTAG Properties Development 49 45,000 SF Retail 5245 Santa Monica Blvd High Line West ,000 SF Retail 5550 Hollywood Blvd Hollywood Family Apts Hollywood Blvd BLVD , ,000 SF Retail 6201 Hollywood Blvd Sunset & Gordon ,000 SF Retail 1500 Gordon St Avalon West Hollywood ,000 SF Retail 7302 Santa Monica Blvd Deluxe Hollywood ,000 SF Office 1350 N. Western Ave SUNSET BLVD. 10 WILTON PL. WESTERN AVE. 9 SANTA MONICA BLVD. 4 17

18 DYNAMIC SUBMARKET Hollywood & Highland Hollywood Bowl Roosevelt Hotel TCL Chinese Theatre Iconic Hollywood 5601 Santa Monica Boulevard is located in the eastern portion of Hollywood, a district in Los Angeles, California, situated west-northwest of downtown Los Angeles. Even as the movie industry expands to surrounding areas such as West Los Angeles and the San Fernando and Santa Clarita Valleys, significant auxiliary industries, such as editing, effects, props, post-production, and lighting companies remain in Hollywood, as does the backlot of Paramount Pictures. During the early 1950s the famous Hollywood (101) Freeway was constructed from the four level Interchange in downtown Los Angeles, past the Hollywood Bowl, up through the Cahuenga Pass and into the San Fernando Valley. In the early days, streetcars ran through the pass on rails running along the central median. In June 1999, the Hollywood extension of the Los Angeles County Metro Rail Red Line subway opened, running from Downtown Los Angeles to the San Fernando Valley, with stops along Hollywood Boulevard at Western Avenue, Vine Street and Highland Avenue. The Hollywood and Highland complex (site of the Dolby Theater, formerly the Kodak Theater) has been a major catalyst for the redevelopment of the area. In addition, numerous fashionable bars, clubs, and retail businesses have opened on or near the boulevard, returning Hollywood to a center of nightlife in Los Angeles. The famous Capitol Records Building on Vine St. just north of Hollywood Boulevard was built in The building houses offices and recording studios, which are not open to the public, but its circular design looks like a stack of 7-inch vinyl records The Hollywood Walk of Fame was created in 1958 as a tribute to artists and other significant contributors within the entertainment industry. Revitalization After years of decline, when many Hollywood landmarks were threatened with demolition, Hollywood is now undergoing rapid gentrification and revitalization with the goal of urban density in mind. 18

19 5601 SANTA MONICA BOULEVARD 370,000 SF Urban Power Center in Hollywood ED SACHSE LEE SHAPIRO CalBRE # CalBRE #