Just Signed!Signed! Just Only 1 Space Left
JUST SIGNED!SIGNED! JUST ONLY 1 SPACE LEFT
RESTAURANT/RETAIL SPACE AVAILABLE
La Cienega/Jeerson Intersection ±100,000 ADT
476 PARKING GARAGE
CUMULUS MEGAPROJECT 30-story high-rise with 1,200 residential units and 300,000 SF of commercial space 45,876 DAILY METRO RIDERS
Culver Exchange Retail/Restaurant ™ FOR LEASE
MICHAEL PAKRAVAN SVP & NATIONAL DIRECTOR RETAIL LEASING
DIRECT (310) 919-5737 LIC# 1706065 [email protected]
DONALD HUTCHINSON III ASSOCIATE RETAIL LEASING
DIRECT (310) 919-5799 LIC# 02065322 [email protected]
This Leasing Package contains select information pertaining to the business and affairs of La Cienega Place located at 3350 S. La Cienega Blvd, Los Angeles, CA (“Property”). It has been prepared by Matthews Real Estate Invest- ment Services. This Leasing Package may not be all-inclusive or contain all of the information a prospective lessee may desire. The information contained in this Leasing Package is confidential and furnished solely for the purpose of a review by a prospective lessee of the Property. The material is based in part upon information supplied by the Owner. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Leasing Package or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective lessees should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to lease the Property and to terminate discussions with any person or entity reviewing this Leasing Package or making an offer to lease the Property unless and until a lease has been fully executed and delivered.
In no event shall a prospective lessee have any other claims against Owner or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing of the Property.
This Leasing Package shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Leasing Package. Culver Exchange 3344 S. LA CIENEGA BLVD | LOS ANGELES, CA
TABLE OF CONTENTS 04 Proposed Overview 08 Metro Expo Line & Developments 12 Area Overview PROPERTY HIGHLIGHTS »» Extremely High Traffic Counts - The Intersection »» Ample onsite and offsite parking - 46 on-site at La Cienega and Jefferson sees about 100,00 stalls (±3.55/1,000 SF) & ± 476-stall, newly cars per day constructed, parking garage available across the »» Minutes from Culver City - A highly attractive street (La Cienega/Jefferson Station Park & Ride area for media, creative and tech companies »» High Average household income - $90,000 Culver Exchange »» Two Blocks from Hayden Tract - a popular area for within a 5 mile radius media and creative agencies »» Apple Music just signed 75,000 SF at 0.3 Miles »» Expected 5 year population growth - 3.72% within away from the subject property a 5 mile radius »» Across from the Newly extended Metro Expo »» Current tenants are , Line - Weekday ridership averages 45,000 and is SECTION steadily increasing , , and » - » Directly across from a Cumulus development corporate office of 1 A massive multi-use complex with apartments, offices, and a grocery store PROPERTY »» Second generation restaurant space available OVERVIEW POTENTIAL MERCHANDISING PLAN FOR AVAILABLE UNITS Address Type S.F. Price Creative Office 3350 S La Cienega Blvd ± 6,000 Leased Space (Ritual) Retail Service 3344 S La Cienega Blvd Starbucks ± 2,100 Leased • Cell Phone • Barbershop 3342 S La Cienega Blvd BurgerIM ± 2,115 Leased • Beauty spa • Pilates 3340 S La Cienega Blvd Just Turkey ± 1,250 Leased • Cryotherapy 3338 S La Cienega Blvd Nishi Poke & Ramen ± 685 Leased
3336 S La Cienega Blvd Retail ± 813 $4.25 / SF / Month, NNN
• Cell Phone • Barbershop • Beauty spa • Pilates • Cryotherapy
RITUAL NEW CORPORATE HEADQUARTERS 3336 Cumulus Megaproject Apple Signed Lease in Culver City 1.9 Million SF development includes Apple is set to take the lease on a new 30-story high rise with 1,200 residential office building in Culver City. The project units and 300,000 SF of commercial will feature 128,000 square feet of office space space, and is projected to open in late 2019 CENTURY CITY WEST HOLLYWOOD WEST HOLLYWOOD
CULVER CITY Hayden Tract
CUMULUS MEGAPROJECT 30-story high-rise with apartments, 45,876 Daily Cumulus Megaproject oces, and a grocery store LA CIENEGA BLVD Metro Riders
Restaurant / Retail LA CIENEGA/ Space Available 476 Parking Garage JEFFERSON LINE
SUBJECT PROPERTY
W. JEFFERSON BLVD ±100,00 CPD 476 CAR GARAGE PARKING DIRECTLY ACROSS STREET, 5500 West Jefferson ±55,388 WEEKLYJust METRO Signed 75,000 RIDERS SF New Corporate Headquarters of Apple Music EXPANDING MULTIMEDIA HUB Culver city continues to be sought after by both people and business looking to call Culver City home. Culver City’s studios, officially nicknamed “The Heart of the Screenland” have produced hundreds of films.
While media is still king in Culver City and has a heavy presence, start-ups including Criteo, MeUndies, and Steelhouse all make their homes in town are more are likely to follow.
TOP EMPLOYERS
HAYDEN TRACT A couple of blocks from La Cienega Place lies Hayden Tract an area of formerly abandoned industrial MAJOR COMPANIES warehouses that are now studios and offices for people »» SnackNation like graphic designers and software engineers. Hayden »» SteelHouse tract is home to some well known media and advertising »» Clutter companies. »» Audiencex The original goal of Hayden Tract was to improve the »» OpenDrives economy, which it has, and introduce art »» Scopely and culture. There is an amazing history of creative » companies in Hayden Tract. Hayden Tract is home to » Beats Music big names including Apple’s Beats Headquarters, Maker »» Jam City Studios, Sony Pictures, and Smashbox Studios. »» PopSugar (LA) » Platform is Hayden Tract’s newest attraction. Sprawled » Zoic Studios across four acres in the middle of Hayden Tract it is an »» Sony Pictures indoor-outdoor urban oasis that showcases high-end »» Maker Studioes fashion retailers, top-chef restaurants, a skin-care apothecary, and design store from around the world. Culver Exchange SECTION 2 METRO EXPO LINE & DEVELOPMENTS La Cienega/Jefferson Metro Stop
LA CIE NEGA/ JEFFERSON LIN E INCREASING EXPO LINE PASSENGERS According to The Source, by Metro estimates, the Expo Line had its best month ever in February. Average weekday ridership jumped to 55,388 from 53,473 the previous month.
According to Metro’s user surveys, almost 70 percent of Expo Line riders at the route’s new stops were not regular users of the train prior to the opening of the extension to Santa Monica. Of those new riders, more than half would have previously made the trip by car, with 44 percent driving solo and eight percent carpooling. Another six percent said they would have traveled by taxi or ride-hailing service.
Record Breaking 55,388 Ridership Average Weekday 45,876 Boarding Jefferson/USC Average Saturday Downtown17th Santa St/SMC Monica26th St/BergamotExpo/BundyExpo/SepulvedaWestwood/RanchoPalms ParkCulver CityLa Cienega/JeffersonExpo/La BreaFarmdaleExpo/CrenshawExpo/WesternExpo/VermontExpo Park/USC 34,844 Boarding Sunday and Holiday 35,995 Boarding
Culver Exchange COFFEE BEAN HQ CAMPUS The Coffee Bean & Tea Leaf - the Los Angeles-based company which operates a large chain of coffee shops by the same name - is planning a new corporate headquarters campus near the Expo Line in Baldwin Hills, adjacent to Culver City and the Hayden Tract. Plans call for two contemporary glass-and-concrete buildings, including a three-story building along Jefferson and a six-story structure at the rear of the property.
The nearly 220,000-square-foot facility, slated for a vacant 3.6-acre lot at 6000 W. Jefferson Boulevard, would feature two buildings - a three-story structure fronting Jefferson and a larger six-story edifice at the back of the property. The smaller building would contain nearly 54,000 square feet of light manufacturing space - to be used for coffee roasting - and nearly 51,000 square feet of warehouse space, with a 2,200-square- foot drive-thru Coffee Bean to be located toward the front of the property. The proposed six-story building would contain just over 90,000 square feet of corporate office space, in addition to ancillary lobbies and outdoor balconies. Plans call for 828 parking spaces to serve these uses, both in a surface lot and in a basement garage that would extend as far as five levels below ground.
Beverly Hills-based architecture firm Jack Hollander & Associates is designing the campus, which would incorporate a central plaza between the two buildings and an open seating area fronting Jefferson Boulevard. Renderings show a pair of contemporary glass-and-concrete buildings.
Construction of the Coffee Bean campus is anticipated to occur of 35 months. The project’s initial study, which is being circulated by the Los Angeles Department of City Planning, sets January 19 as a start date for construction. However, an official date has not been announced. CUMULUS DEVELOPMENT At the corner of La Cienega and Jefferson, this massive development project will include almost 2 million square feet of residential, retail, and office space, including more than 1,200 units of housing and a grocery store, the project will include 1,500 bike parking spaces and a landscaped bike trail in addition to 2,371 automobile parking spaces.
WASHINGTON CENTINELA MARKET HALL PROJECT A 1.6 acre project located on the two northerly corners of Washington Boulevard at Centinela Avenue. The project is a public market featuring artisanal vendors under one roof to sell their products such specialty cheeses and charcuterie, a bakery, chocolatier and related confections, wine, locally grown produce, specialty coffee, flowers, organic meats, and other high-quality products
PARCEL B City has plans to turn what is known as parcel B into a 110,000 square-foot-office and retail complex. Hackman Capital Partners will develop the parcel at 9300 Culver Boulevard. The City is collaborating with Hackman to bring a vibrant office and retail development near the historic Culver Studio. This will include new creative office, retail, and restaurants. BLAIR HILLS
BALDWIN HILLS
LA CIENEGA BLVD
476 CAR GARAGE, 55,388 DAILY METRO RIDERS
LA CIENEGA/JEFFERSON METRO LINE
RESTAURANT/RETAIL SPACE AVAILABLE Culver Exchange SECTION 3 AREA OVERVIEW CULVER CITY Culver City is quickly becoming a major hub for new media ventures, as Amazon recently announced plans to lease 280,000 square feet of space at the Culver Studios, which is just a few blocks from the Apple site.
Culver city is a hip, modern and progressive community that sits right between the beach and downtown Los Angeles. Culver City combines unique restaurants and entertainment with a rapidly expanding multimedia hub. Culver City is an ideal retail location on Los Angeles’ Westside, just minute. from LAX, Marina Del Rey, Santa Monica, and Downtown Los Angeles. Surrounded by nearly 295,000 households within a five mile radius, and a network of high-volume freeways (the 405 (San Diego) and the 10 (Santa Monica), Culver City offers great opportunity for businesses.
A daytime population of 60,000 creates tremendous demand for retail and personal services in the City’s business districts. Culver City captures more than twice its share of Los Angeles County employment and 3x its share of sales tax revenues.
A UNIQUE DESTINATION Culver City is a destination filled with outdoor cafes, unique shops and galleries opening onto pedestrian-friendly boulevards. Handsome landmark buildings, cutting-edge media facilities and creative workshops exist throughout. Culver City is also becoming a major food destination. Old restaurants are thriving again, and new ones pop up every day. Downtown Culver City is home to around twenty non-chain restaurants that offer everything from sushi to barbecue to Korean to organic fare. Downtown Los Angeles is one of Los Angeles’ most talked about walking neighborhoods.
While most known for its vast array of delicious local and global cuisine, it is also home to a burgeoning art scene and live music venues consistently showcase the best bands from all over LA. SURROUNDING RETAIL TRADE AREA
Culver Exchange DEMOGRAPHICS POPULATION 1 Mile 3 Mile 5 Mile 2022 Projection 32,650 338,244 1,033,033 2017 Estimate 31,445 326,322 995,980 2010 Census 30,198 313,723 955,726 Growth 2017 - 2022 3.83% 3.65% 3.72% Growth 2010 - 2017 4.13% 4.02% 4.21% HOUSEHOLDS 1 Mile 3 Mile 5 Mile 2022 Projection 11,315 140,467 426,112 2017 Estimate 10,899 135,407 410,135 Growth 2017 - 2022 3.82% 3.74% 3.90% INCOME 1 Mile 3 Mile 5 Mile 2017 Est. Average $75,866 $90,671 $90,013 Household Income ™
LAST SPREAD
MICHAEL PAKRAVAN SVP & NATIONAL DIRECTOR RETAIL LEASING
DIRECT (310) 919-5737 LIC# 1706065 [email protected]
DONALD HUTCHINSON III ASSOCIATE Culver Exchange RETAIL LEASING 3344 S. LA CIENEGA BLVD | LOS ANGELES, CA DIRECT (310) 919-5799 LIC# 02065322 [email protected]