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Victory Blvd Designated Opportunity Zone Canoga Park, Ca ±1.51 ACRE MULTIFAMILY MIXED-USE DEVELOPMENT SITE UP TO 4.5:1 FAR LOCATED IN WARNER CENTER SPECIFIC PLAN EXISTING IN-PLACE INCOME 21161VICTORY BLVD DESIGNATED OPPORTUNITY ZONE CANOGA PARK, CA Royal Orchid Flooky’s Ferguson Bath, Kitchen & CANOGA AVE Lighting Gallery 21161 Zoo Culture VICTORY BLVD The Pampered Pet Hotel & Spa U-Haul DE SOTO AVE VICTORY BLVD KITTRIDGE ST Laurie Lustig-Bower Kamran Paydar Executive Vice President First Vice President Price: $9,500,000 +1 310 550 2556 +1 310 550 2529 [email protected] [email protected] www.21161Victory.com Lic. 00979360 Lic. 01242590 CANOGA PARK BOB HOPE 405 AIRPORTT 21161 RESEDA VICTORY BLVD NORTH VAN NUYS HOLLYWOOD WOODLAND 170 BURBANK HILLS ENCINO 134 SHERMAN OAKS GLENDALE UNIVERSAL CITY GRIFFITH 27 OBSERVATORY HIGHLAND PARK TOPANGA BEL AIR LOS FELIZ STATE PARK HOLLYWOOD WEST HOLLYWOOD 405 ECHO UNIVERSITY OF CALIFORNIA, BEVERLY HILLS PARK LOS ANGELES KOREATOWN CHINATOWN MID-WILSHIRE CENTURY CITY BRENTWOOD PICO UNION DOWNTOWN PACIFIC LOS ANGELES PALISADES SANTA UNIVERSITY OF MONICA CULVER CITY SOUTHERN CALIFORNIA CRENSHAW MAR VISTA KENNETH HAHN STATE LEIMERT PARK RECREATION AREA VERNON 405 SOUTH LOS ANGELES VENICE HUNTINGTON MARINA PARK PACIFIC DEL REY OCEAN INGLEWOOD PLAYA DEL REY SOUTH GATE LAX 2 | www.21161Victory.com © 2019 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 The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE.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:6625797 TABLE OF CONTENTS Executive Summary PAGE 8 Property Overview PAGE 15 Area Highlights PAGE 23 Comparables PAGE 34 Price: $9,500,000 VICTORY BLVD www.21161Victory.com CONTACTS Laurie Lustig-Bower Executive Vice President +1 310 550 2556 [email protected] Lic. 00979360 Kamran Paydar First Vice President +1 310 550 2529 [email protected] Lic. 01242590 West View MIRA CITYVIEW 174 UNITS ERWIN ST ERWIN ERWIN ST ERWIN UNDER CONSTRUCTION VELA ON OX FAIRFIELD RESIDENTIAL 6041 VARIEL AVE. 379 UNITS BCEGI DELIVERED DEC. 2018 263 UNITS 6233 VARIEL AVE. UNDER CONSTRUCTION SOUTH BAY PARTNERS 336 UNITS (SENIORS HOUSING) CANOGA AVE PROPOSED THE Q VARIEL 21161 EVOLUTION WARNER CENTER CALIFORNIA HOME BUIDERS VICTORY BLVD EVOLUTION STRATEGIC PARTNERS 245 UNITS 277 UNITS UNDER CONSTRUCTION UNDER CONSTRUCTION VICTORY BLVD VARIEL AVE OXNARD ST Zoo Culture Royal Orchid Flooky’s 6636 VARIEL AVE. THE HANOVER COMPANY The Pampered Pet Hotel & Spa 395 UNITS U-Haul U-Haul UNDER CONSTRUCTION Iron Battalion CrossFit 6109 DE SOTO AVE. Ferguson Bath, Kitchen & Takano Weightlifting CALIFORNIA HOME BUIDERS Lighting Gallery 368 UNITS PROPOSED DE SOTO AVE 4 | www.21161Victory.com South View TO MALIBU & PACIFIC OCEAN 6041 VARIEL AVE. APPROXIMATELY BCEGI 1.5 MILES FROM SITE 263 UNITS APPROXIMATELY UNDER CONSTRUCTION 1.9 MILES T0 101 FWY VELA ON OX FAIRFIELD RESIDENTIAL 379 UNITS DELIVERED DEC. 2018 THE Q VARIEL CALIFORNIA HOME BUIDERS 245 UNITS UNDER CONSTRUCTION DE SOTO AVE 6233 VARIEL AVE. SOUTH BAY PARTNERS 336 UNITS (SENIORS HOUSING) PROPOSED CANOGA AVE VARIEL AVE VICTORY BLVD 21161 VICTORY BLVD Royal Orchid Flooky’s Ferguson Bath, Kitchen & Lighting Gallery AMLI WARNER CENTER 522 UNITS 5 | www.21161Victory.com East View LOS ANGELES RIVER EVOLUTION WARNER CENTER MORE THAN 60 DISCIPLINES, EVOLUTION STRATEGIC PARTNERS 111 DEGREE PROGRAMS 277 UNITS TAUGHT TO 22,000 STUDENTS UNDER CONSTRUCTION DE SOTO STATION REVEAL 6636 VARIEL AVE. METRO ORANGE LINE 438 UNITS THE HANOVER COMPANY (0.4 MILES) DE SOTO AVE 395 UNITS UNDER CONSTRUCTION THE ENCLAVE AT OCEANO AT WARNER CENTER Zoo Culture WARNER CENTER The Pampered Pet Hotel & Spa 195 UNITS 244 UNITS U-Haul AMLI WARNER CENTER 522 UNITS VARIEL AVE Royal Orchid Flooky’s Ferguson Bath, Kitchen & 21161 Lighting Gallery VICTORY BLVD VICTORY BLVD CANOGA STATION METRO ORANGE LINE (0.2 MILES) 6 | www.21161Victory.com North View MIRA YAYA VANOWEN CITYVIEW YAYA GROUP THE ENCLAVE AT 174 UNITS 101 UNITS WARNER CENTER UNDER CONSTRUCTION UNDER CONSTRUCTION 195 UNITS REVEAL 438 UNITS 6636 VARIEL AVE. THE HANOVER COMPANY 395 UNITS VANOWEN ST UNDER CONSTRUCTION VARIEL AVE CANOGA AVECANOGA STATION METRO ORANGE LINE (0.2 MILES) AMLI WARNER CENTER 522 UNITS 21161 VICTORY BLVD EVOLUTION WARNER CENTER EVOLUTION STRATEGIC PARTNERS 277 UNITS UNDER CONSTRUCTION VICTORY BLVD 7 | www.21161Victory.com VICTORY BLVD 21161VICTORY BLVD EXECUTIVE SUMMARY CANOGA PARK, CA THE OPPORTUNITY CBRE, Inc., as exclusive agent, is pleased to present for sale ±1.51 acre development site with the potential to build a multifamily mixed-use project of up to 4.5:1 floor area ratio (FAR) in the desirable Warner Center/Woodland Hills submarket of Los Angeles, California. Located at 21161 Victory Boulevard, the Property boasts an excellent Warner Center location that is proximate to three malls: • The Village at Westfield Topanga (mixed-use, open-air shopping and dining with ±100 stores); • Westfield Topanga (regional indoor mall); • Westfield Promenade (34-acre property envisioned for redevelopment to include expansive community open space, residential units, shops, cafes, hospitality and an entertainment/sports center.) Additionally, the Property’s neighborhood enjoys restaurants such as Fleming’s Steakhouse and Roy’s Asian Fusion as well as its desirous location within the San Fernando Valley’s urban core with over six million square feet of office space. Along with its outstanding location, the future development envisioned for this site will benefit from Woodland Hills’ strong multifamily fundamentals, favorable income and education demographics, and adjacency to the Metro Orange Line. The Property offers the added benefit of existing in-place income with ±36,834 square feet of neighborhood-serving restaurant/ retail and small office space. The gross potential income (GPI) is $81,337. The Property is located in a designated Opportunity Zone census tract. Price: $9,500,000 For more information please visit, www.21161Victory.com Front of Existing Structure VICTORY BLVD 9 | www.21161Victory.com Opportunity Highlights Prime Victory Strong Visibility with Opportunity High-Identity Site at Heavily Exposure up to Blvd. Location ±392 Feet of Frontage Zone Trafficked Victory Blvd. 36,710 Vehicles Along Victory Blvd • One of the Highest Traffic Per Day Intersections in the San Fernando Valley VICTORY BLVD 10 | www.21161Victory.com Opportunity Highlights (continued) • Outstanding Demographics (Warner Center): SAN FERNANDO VALLEY • 2024 Projected Average Household Income: $111,943 • Percent of Households with $100,000+ Income: 32.4% • Population Over age 25 with Associate’s, Bachelor’s, Master’s, Professional or Doctoral Degrees: 58.5% • Outstanding location in the desirable Warner Center/Woodland Hills submarket: Proximate to the newly built open-air retail center The Village at Westfield Topanga, Westfield Topanga regional mall and Westfield Promenade shopping center with nearly 350 top brands, restaurants and entertainment options. • Local retailers include: Apple Store, Nordstrom, Neiman Marcus, Target, Macy’s, REI, Costco, Williams Sonoma, Crate & Barrel. CANOGA AVE • Restaurants include: Joey Woodland Hills, Roy’s Asian Fusion, Fleming’s Steakhouse, California Pizza Kitchen, Cheesecake Factory, Il Fornaio Cucina Italiana, EMC Seafood & Raw Bar, El Torito, Island’s Restaurant, P.F. Chang’s. • Walking distance to Warner Center office buildings with over six million square feet office space. Approximately 40,000 employees work within the Warner Center area. Major employers include HealthNet Inc., Zenith Insurance, Kaiser Permanente Hospital, Pratt & Whitney, Pierce College. • Free Red Trolley service connection between Westfield properties via local streets with plans to add additional Warner Center pickup locations. • Immediate access to major San Fernando thoroughfares including De Soto Avenue, Canoga Avenue, Victory Boulevard, Burbank Boulevard, and Topanga Canyon Boulevard. VICTORY BLVD • Transportation linkages via Highway 101 and the 118 Freeway. • Walking distance to Metro Orange Line Warner Center Transit Hub: Two transit stops are located within walking distance of the Property, linking Warner Center and North Hollywood, with further Metro Red Line service to Downtown Los Angeles. • Located within the Warner Center 2035 Specific Plan: An important regional hub for the entire San Fernando Valley. • Future Transportation Hub Plan for the intersection of Variel Avenue and Oxnard Street. 11 | www.21161Victory.com 21161 VICTORY BLVD IS AN Price: OUTSTANDING DEVELOPMENT $9,500,000 OPPORTUNITY IN A THRIVING For more information, please visit:
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