6640 SUNSET BOULEVARD LOS ANGELES OFFERING MEMORANDUM
Table of Contents Executive Summary 4 Property Overview 6 Floor Plans 8 Area Overview 10 SETH WELLISCH Principal 310.943.5130 swellisch@cresa.com BRE #01335793 GERALD A PORTER Founding Principal 310.207.10 jporter@cresa.com BRE #00774133 Cresa 2018. 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
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
Plat Map Property Profile ADDRESS 6636-6642 W Sunset Boulevard Los Angeles, CA 90028 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) 5547-024-004 ASKING PRICE $10,900,000 6 7
1st Floor 8 2nd Floor 9
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. 1 2 3 4 5 6 7 8 9 AMDA Amoeba Music BLT Broadgreen Buddha Jones Buzzfeed Capitol Records Clique Media CNN 22 23 24 25 26 27 28 29 30 Milk Studios NetFlix NeueHouse Nielsen OWN Paramount Studios Raleigh Studios SAE Institute Show Time 20 16 38 17 6640 Sunset Blvd SUNSET BLVD HOLLYWOOD BLVD 12 39 1321 19 25 33 34 24 6 32 3 2 9 37 36 11 18 23 35 41 10 11 12 13 14 15 Critical Content Emerson College Fender Film LA Funny or Die Gnomon School 31 32 33 34 35 36 SIM Group/Chainsaw Siren Studios Sickdeals StyleHaul Sunset Bronson Studios Sunset Gower Studios 14 26 30 LA BREA AVE HIGHLAND 29 31 FOUNTAIN AVE SANTA MONICA BLVD 101 FREEWAY 101 FREEWAY 15 VINE ST GOWER ST 16 17 18 19 20 21 Jim Hensen Company j2 Global Communications KTLA 5 LA Film School Live Nation Magical Elves 37 38 39 40 41 Technicolor Trailer Park Viacom Whalerock ZestFinance 8 10 40 5 4 SEWARD AVE 22 27 MELROSE AVE 28 10 11
LA BREA Amenities HIGHLAND AVE 101 FREEWAY VINE 6077 19 48 102 62 101 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 101 9 17 Next Door Lounge 42 Hooters 77 Thai Pepper Restaurant 94 Shopping Center 96 90 43 10 81 103 Outpost 43 Jamba Juice 78 The Bowery 100 68 34 109 86 99 109 Hollywood & Highland Center 3 93 1 24 46 51 11 15 5041 8 88 101 75 HOLLYWOOD BLVD 101 HOLLYWOOD BLVD 11 Royal 44 Joe s Pizza 79 The Hungry Cat Cabo Wabo Cantina, California 22 7 42 61 54 2 85 29 44 39 89 33 26 27 20 35 18 25 92 59 53 14 99 12 Sassafras Salon 45 Kabuki 80 The Melt Pizza Kitchen, Chado Tea 63 10 66 64 6 13 13 Saint Felix 46 Kino Sushi 81 The Vegan House Room, Cho Oishi, D Lush, 106 28 14 Station Hollywood 47 Kitchen 24 82 The Waffle French Crepe Company, Green 97 72 69 45 Earth Café, Hard Rock Café, 47 15 84 21 Te Kila 48 La Poubelle Bistro & Bar 83 Trejo s Coffee & Donuts 16 57 6640 Sunset Blvd 49 79 65 Johnny Rockets, Kelly s Coffee 82 31 40 67 58 107 73 32 57 16 The Well 49 LifeFood Organic 84 Umami Burger SUNSET BLVD & Fudge Factory, Lucky Strike, 4 104 52 91 30 71 76 80 37 104 17 Tinhorn Flats 50 Los Burritos 85 Urban Masala 55 87 78 Pokinometry, Starbucks, The 95 56 18 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 19 53 101 Coffee Shop Mel s Drive-In 88 Yakipan Baja Fresh, Crazy Rock n Sushi, 74 20 54 25 Degrees Miceli s Fine Dining Daphne s Greek Cafe, Flame 38 FOUNTAIN AVE 23 36 800 Degrees Pizza Mission Cantina Broiler, Formosa Cafe, Hot N 21 55 89 Beso 103 12 Andre s Pizza Off Vine Juicy Crawfish, Jersey Mike s 22 56 90 Cleo Subs, Mendocino Farms, Target, 23 57 Atch-Kotch Ono Hawaiian BBQ* 91 Gwen The Pizza Press, Starbucks 108 9 24 58 AY-Do-NO Korean BBQ Paley 92 Katsuya 5 Birch Palms Thai Metro Stations 25 59 93 Musso & Frank Grill 104 83 SANTA MONICA BLVD Blue Palms Brewhouse Papilles Red Line 26 60 94 Preston s 110 107 98 27 61 Burger Factory Pig N Whistle Fitness Centers 62 Caffé Etc. Pimai *multiple locations 28 95 24 Hour Fitness 29 63 Calle Tacos Pink Pepper 96 CrossFit SolCity 30 64 Ciabatta Bar Pure Natural Blends Café 97 Hollywood Wilshire YMCA 105 31 65 Coffee Bean & Tea Leaf* Roscoe s 98 Golds Gym Coffee Commissary Running Goose 32 66 99 LA Fitness* 67 Sharky s 100 Made in LA 12 13 1 2 3 4 5 6 7 8 33 34 35 36 37 38 39 40 41 68 69 71 72 73 74 75 76 Sugarfish Sushi Ajito Sushi Ike Tamarind Deli Markets 101 102 103 104 105 106 107 108 CVS Pharmacy* Gelson s Ralphs* Rite Aid* Sprouts Trader Joe s Walgreens* Yummy.com
6640 SUNSET BOULEVARD LOS ANGELES SETH WELLISCH Principal 310.943.5130 swellisch@cresa.com BRE #01335793 GERALD A PORTER Founding Principal 310.207.10 jporter@cresa.com BRE #00774133 Cresa 2018. 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.