OFFERING MEMORANDUM 3373 ROBERTSON BLVD NEW HYBRID & 3382 ROBERTSON PL LOS ANGELES, CA 90034 INDUSTRIAL ZONING RESIDENTIAL/INDUSTRIAL LIVE/WORK/CREATIVE OFFICE

SBA 90% FINANCING NO PAYMENT 6 MONTHS INVESTMENT SUMMARY INVESTMENT SUMMARY EXECUTIVE OVERVIEW

Hudson Partners is pleased to exclusively present 3373 S. Rob- LISTING PRICE $1,450,000 CONSTRUCTION TYPE Concrete Block/Wood-Frame ertson Blvd. This unique property represents a rare opportunity to acquire a multifaceted asset within walking distance to the Ivy Sta- ROOF Rolled Composition/Gable Roof tion redevelopment project, among other exciting developments BUILDING SIZE 1,767 SF changing the Real Estate Marketplace in Culver City. FOUNDATION Concrete Industrial/SFR Raised RESIDENTIAL 744 SF Boasting 1,767 Square feet across two separate structures, 3373 CEILING HEIGHT 8'5" SFR / 10'4" Industrial S. Robertson is ideal for an owner/user or live/work opportunity. With highly-leveraged SBA financing, this asset can accommo- INDUSTRIAL 1,023 SF PARKING 3 Surface Spaces date a user looking to occupy at least 51% of the property. The new Hybrid Zoning also provides potential retail and live work RESIDENTIAL BD/BTH 2 Bedroom + 1 Bath PARCEL AREA 3,546.9 SF possibilities beyond its current uses.

OCCUPANCY Vacant The residential structure, located on the Robertson Blvd side of the APN 4312-012-004 parcel, was previously leased as Creative Office space. It features 50 Ft on Robertson Blvd & FRONTAGE two bedrooms, both roughly the size of small offices, a reception 70 Ft on Robertson Pl area, one bathroom, and a kitchen/break room area. In addition, PROPERTY TYPE SFR/Industrial/Creative Office there is a courtyard space between the two structures, giving the building some common open space. YEAR BUILT 1922 SFR | 1954 Industrial Additionally, the Industrial-style structure in rear portion of the lot has excellent potential to be converted into creative office space.

FAR 0.49 Investors may benefit from converting or utilizing the existing footprint of the building and marketing the space to companies ZONING NI(EC) seeking price relief from Silicone Beach. This property's access to upscale amenities such as walking distance National Credit res- HIGHLIGHTS taurant and retail tenants as well as easy access to freeways/ • High Exposure Corner (Robertson Blvd. & Robertson Place) LOT DIMENSIONS Irregular Shape transportation will be attractive to newly-minted Westside Tech • Adjacent to Ivy Station Mega-Development Companies/Start ups. Additionally, the property's proximity to • Close to Silicone Beach Tenant-Base companies like Google and Apple, just across the street, present HIGHWAY ACCESS I-10 & I-405 • Diversified Product; Residential/Industrial an potentially synergistic opportunity, expanding the space's po- • Just Off Culver City Retail Corridor tential tenant base. • Near Projected Tech/Content Creation Hubs 2 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 3 PROPERTY OVERVIEW ROBERTSON BLVD

LOCATION PARKING BUILT 3373 Robertson Blvd. & Provides 3 spaces which equates to 1.70 Built in 1922 the single family residence 3382 Robertson Pl. spaces per 1,000 SF parking ratio. being used as creative office. Built in 1954 Los Angeles, CA 90034 industrial building..

SITE Located on the corner of Robertson Blvd and Robertson Pl in the city of Culver City, CA. DISTANCE TO TRANSIT ZONING Metro Expo Line...... 0.2 miles Per the county of Los Angeles, the subject 33 Line...... 0.1 miles site was recently changed to NI(EC) zon- LAND AREA 733 Line...... 0.1 miles ing which is a hybrid industrial zoning al- 16 Metro Local Line...... 0.1 miles low live work units and other commercial The property consists of 1 parcel (APN 17 Culver City Sta-UCLA...... 0.2 miles uses. #4312-012-004) totaling 3,546.9 SF of CC 7 Culver Blvd...... 0.2 miles land area. ROBERTSON PL CC 1 Washington Blvd...... 0.2 miles

BUILDING AREA PARCEL MAP The subject consists of 2 buildings totaling 1,767 SF of net rentable area.

FRONTAGE & ACCESS The site features 50 linear feet of frontage along Robertson Blvd and 70 linear feet of frontage on Robertson Pl.

Access points into the buildings include 1entrance off Robertson Blvd and 1 en- trance off Robertson Pl.

4 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 5 ZIMAS MAP ‒ NEW ZONING OFFERING SUMMARY

PRICE $1,450,000

ADDRESS 1,767 SF

GROSS LAND AREA 744 SF

IMPROVEMENTS 1,023 SF

APN 3,546.9 SF

Hybrid ENTITLEMENTS 4312-012-004 Industrial AVAILABLE REPORTS SFR/Industrial/Creative Office

LAND USE 96 Foot CURRENT SPECIFIC PLAN & ZONING Height Limit LAND USE Light Industrial Hybrid Industrial PLANNING

ZONING M1 New Industry

HEIGHT Height District 1 96 Feet/7 Stories

FAR 1.5:1 2.5:1 or 4.0:1

6 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 7 EXPOSITION CORRIDOR TRANSIT NEIGHBORHOOD PLAN ‒ NEW INDUSTRY ZONE (NI) EXPOSITION LINE ‒NOTABLE AREA PROJECTS

LOS ANGELES METRO ‒ LIGHT RAIL SYSTEM SUMMARY OF USES & DEVELOPMENT STANDARDS LA's World Class Metro Light Rail system features 93 stations and over 98.5 The New Industry zone is an employment zone with uses tailored to 21st century and SUBJECT PROPERTY miles of rail. Los Angeles county voter-approved Measure M provides an creative industries such as digital technology, R&D, media, design, publishing, motion estimated $860 million per year over the next 40 years to expand the metro picture, and broadcasting. Supporting uses associated with these industries, such as 3373 ROBERTSON BLVD rail systems and ease traffic congestion through a wide range of projects. Los light manufacturing, assembly, and limited retail or restaurants, are also appropriate. 3382 ROBERTSON PL Angeles city voter-approved Transit Oriented Communities Affordable Housing Incentive Program (aka "TOC") creates incentives for all housing developments within one-half mile radius of a major transit stop. The property is adjacent to • Live/Work (50%) the Expo Line which features 19 stations connective Downtown LA to Santa • Office Monica. In 2019, the opening of the Crenshaw/LAX metro line will connect • Research and Development the Los Angeles Stadium and LAX to the light rail system, further solidifying the • Restaurants, bars, Retail & benefits of riding metro. Personal Services (20%) SUMMARY OF PERMITTED • Commercial Hotels USES (PARTIAL LIST) EXPOSITION CORRIDOR TRANSIT • Light Manufacturing & NEIGHBORHOOD PLAN Assembly The property is located in sub-area 21 of the Exposition Corridor Transit • Publishing, Motion Picture, Neighborhood Plan (aka"ECTNP") approved by the Los Angeles City Council Broadcasting on July 31, 2018. As of September 2018, the planning department reports that the final plan is under legal compliance review by city attorneys and would • Repair and Maintenance likely take effect in it's present form on or before early 2019. DEVELOPMENT STANDARDS STATION DEVELOPMENT DEVELOPER STATUS IMPROVEMENTS UNITS SQ. FT. Upon implementation of ECTNP the property's land use and zoning will change from Light Industrial/M1 to Hybrid Industrial/New Industry respectively. BASE BONUS La Cienega/ Cumulus Carmel Partners Under Construction Multi-Family, Office & Retail 1,200 1,900,000 FAR 2.5:1 4.0:1 Jefferson HEIGHT 96 Feet 5 Feet Ive Station Lowe Under Construction Office, Retail & Hotel 200 500,000 NOTES: 8777 Washington Clarion Partners Under Construction Apple & Retail ‒ 133,000 1. If a permitted use is limited by the plan the stated percentage represents the maximum percent of floor area for that use. Platform Runyon Completed 2016 Office, Retail & Dining ‒ 80,000 SUBJECT 2. Projects with Total FAR greater than 2.5:1 may dedicate a maximum of 50% of total floor PROPERTY area to Live/Work Units. Culvery City 3. Projects are allowed Bonus FAR in exchange for providing Public Benefits as defined in Synapse Runyon Under Construction Office & Retail ‒ 92,000 Section 3 of the plan. - For instance, commercial projects (defined as 70% or more non-residential) are required Access Greystar Completed 2016 Multi-Family & Retail 115 108,000 to provide Vehicle Trip Reduction as a Public Benefit. 4. Height bonus applied to ground floor only. Hackman Capital 5. This is not intended to be an "all-inclusive" list of development standards, requirements and Culver Steps Under Construction Amazon & Retail ‒ 110,000 restrictions. Please refer to the ECTNP for detailed information. Partners Expo/ For more information on the Expo Corridor Transit Neighborhood Plan, or to read a draft plan go to: Linea Carmel Partners Under Construction Multi-Family & Retail 595 526,000 http://www.latnp.org/expo-line/expo-draft-plan/. Sepulveda

8 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 9 SFR or CREATIVE OFFICE

10 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 SFR/CREATIVE OFFICE INTERIOR HUDSON COMMERCIAL PARTNERS, INC. 11 INDUSTRIAL BLG. 1,023 SF

12 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 INDUSTRIAL INTERIOR/COMMON AREA HUDSON COMMERCIAL PARTNERS, INC. 13 SNAPSHOT: WEST LOS ANGELES

West Los Angeles is in Los Angeles County and is one of the best places to live in California. Living in West Los Angeles offers residents an urban feel and most residents rent their homes. In West Los Angeles there are a lot of bars, restaurants, coffee shops, and parks. Many young professionals live HIGH DENSITY, WEST LOS in West Los Angeles and residents tend to be liberal. The public schools in West Los Angeles are ANGELES DEMOGRAPHICS above average. • More than 206,636 people within a 5-mile NEIGHBORHOOD CITY REGION COUNTY METRO radius. West Los Los Los Los Los Angeles Angeles Angeles Angeles Angeles • More than 103,388 employees with an Average Household Income exceeding $74,655

DEMOGRAPHICS WEST LOS ANGELES UNITED STATES • More than 87,500 households with an Average PROPERTY VALUE MEDIAN $74,655 Property Value exceeding $945,500

LOS ANGELES COUNTY

The County of Los Angeles holds many disticntions. L.A. is the entertainment capital of the world, a cultural mecca boasting more than 100 museums, and a paradise of idyllic weather. From tourist attractions like the Walk of SUBJECT Fame's collection of stars (numbering more than 2,614 and growing by one or two a month) to career opportuni- PROPERTY ties like those presented in the expanding tech industry, Los Angeles County is the place to be. It is the only city WEST LOS ANGELES LOS ANGELES COUNTY in North America to have hosted the Summer Olympics twice. Downtown L.A. is the largest government center outside of Washington, D.C. Los Angeles County has the WEATHER 281Sunny 79◦Average 48◦Average 284Sunny 71◦Average 55◦Average Days High Low Days High Low only remaining wooden lighthouse in the state (located in San Pedro's Fermin Park) and the largest historical theater district on the National Register of Historic Places (located Downtown on Broadway).

14 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 15 West LA haw a population of 207k peo- ABOUT THE NEIGHBORHOOD NEARBY AMENITIES ple and a median household income of $74,655. The population of West LA de- clined from 208,314 to 206,636, and its median household income grew from $69,787 to $74,655.

The population of West LA is 52.1% White Alone, 20.9% Asian Alone, and 17.9% Hispanic or Latino. 41.5% of the people in West LA speak a non-English language, and 84.9% are U.S. citizens.

The median property value in West LA is $945,500, and the homeownership rate is 31.1%. Most people in West LA commute by Drove Alone, and the average commute time is 23.2 minutes. The average car own- ership in West LA is 2 cars per household.

93 63 91

Walk Score Transit Score Bike Score

Walker's Paradise Good Transit Biker's Paradise Daily errands do not Many nearby public Daily errands can be require a car. transportation options. accomplished on a bike. Beverly Hills 4 mi Hollywood 7 mi Westwood 5 mi Santa Monica 6 mi

3373 Robertson Boulevard is in the South Robertson neighborhood. South Robertson is the 16th most walk- able neighborhood in Los Angeles with a neighbor- hood Walk Score of 84.

3373 Robertson Boulevard is a four minute walk from the Metro E Line (Expo) at the stop.

16 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 17 ADJACENT NEW MEGA DEVELOPMENTS

128K SF NEW CREATIVE OFFICE IVY STATION 0.4 MILES FROM SUBJECT PROPERTY THE PLATFORM HBO is joining Apple and Amazon in setting up shop in Culver City, which is reemerging as a major entertainment IVY industry hub more than a century after Thomas Ince built STATION the city’s first film studio.

HBO will occupy all 240,000 square feet of office space at the 5.2-acre megaproject, using the building as its new corporate headquarters. Rising from the site of a former NATIONAL BLVD VENICE BLVD park-and-ride lot next to the Culver City light rail stop, Ivy Station will also include 200 apartments, 50,000 square feet of restaurant and retail space, and a 148-room hotel. Construction on the project is set to wrap up next year, with

HBO arriving in 2021. EXPO LINE EXPO EXPO LINE EXPO 8777 WASHINGTON 0.4 MILES FROM SUBJECT PROPERTY SUBJECT ROBERTSON BLVD PROPERTY This project featuring 128,000 square feet of creative office space is set to rise just across the street from the Ivy Station complex. It’s not yet complete, but has already been leased by Apple for its entertainment division (after HBO backed out and moved across the street). Developed by Lincoln Property Company and Clarion Partners, the project will incorporate ROBERTSON PL EXPOSITION BLVD more than 28,000 square feet of open space, including a large central courtyard and rooftop deck.

18 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 19 WESTDALE NEARBY NEW DEVELOPMENTS MAR VISTA

MIXED-USE DEVELOPMENT SUBJECT 3.0 MILES FROM SUBJECT PROPERTY PROPERTY PALMS The project, which sits direclty on the Los Angeles-Culver City border, would consist of a five-story building featuring 97 studio and one-bedroom apartments above 15,000 square feet of ground-floor retail space and approximately 200 underground parking spaces. In exchange for density bonus incentives from the City of Los Angeles, plans call for four units of affordable housing. CULVER CITY

MARKET HALL MARKET HALL 3.4 MILES FROM SUBJECT PROPERTY MCLAUGHLIN The project, which would rise upon two vacant lots totaling 1.6 acres of land, calls for the construction of low-rise buildings featuring nearly 30,000 square feet of retail and CARLSON PARK restaurant space. PARK WEST ‒ Site A, located at the northwest corner of Washington and Centinela, is imagined as a one-story building featuring 21,605 square feet of space for artisanal food vendors, attached to a four-level parking structure with 184 vehicle stalls. BLAIR HILLS ‒ Site B, located at the northeast corner of the intersection, CYPRESS GROVE is described will feature two one-story buildings offering 5,230 square feet of commercial space, with STUDIO VILLAGE a 20-stall surface parking lot located at the back of the MIXED-USE DEVELOPMENT property.

20 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 21 EXPO-DOWNTOWN BICYCLE CONNECTOR SONY AMAZON STUDIOS STUDIOS

CULVER CITY THE CULVER CASTING/SOUND STUDIOS STUDIOS SONY PICTURES ANIMATION

Plans to connect the Culver City Expo Line CULVER BLVD station to the Downtown Culver City shopping district have taken another step forward with WASHINGTON BLVD the release of the project's feasibility study.

The recommended alternative calls for two-way protected bike lanes on:

• Washington Boulevard between Wesley VENICE BLVD Street and Ince Boulevard. • Robertson Boulevard between Venice and Washington Boulevards.

A brief segment of raised two-way bike lanes EXPO LINE SUBJECT would complete the connection to Town Plaza, EXPOSITION BLVD which serves as the gateway to Downtown PROPERTY

Culver City. ROBERTSON PL

The project has been refined since first emerging in January through consultation with stakeholders along the proposed route, including Sony Pictures. Plans now call for a center turn lane to be retained through the project, as it provides access to Sony's Imageworks campus. ROBERTSON BLVD Consulting firm TranspoGroup has estimated that the bike lane connector would cost approximately $3 million. Culver City will still need to conduct a more detailed environmental review and cost estimate before the project reaches "shovel-ready," condition. When it reaches that point, it could be eligible for funding through sources such as the Measure R and Measure M local returns.

22 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 23 24 3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 90034 HUDSON COMMERCIAL PARTNERS, INC. 25 www.hudsonpartnersinc.com JAY MARTINEZ CONNOR MACLEOD Managing Principal Senior Associate c: 310.658.3375 c: 425.387.5540 p: 818.212.3057 p: 818.699.1603 f: 818.688.8140 f: 818.332.4977 e: [email protected] e: [email protected]

Cal BRE: 01367663 Cal BRE: 02083085

This Memorandum (“Offering Memorandum”) has been prepared by Hudson Commercial Partners, Inc. based on information that was furnished to us by sources we deem to be reliable. No warranty or representation is made to the accuracy thereof; subject to correction of errors, omissions, change of price, prior sale, or withdrawal from market without notice.

This Memorandum is being delivered to a limited number of parties who may be interested in and capable of purchasing the Property. By its acceptance hereof, each recipient agrees that it will not copy, reproduce or distribute to others this Memorandum in whole or in part, at any time, without the prior written consent of Hudson Commercial Partners, Inc., and it will keep permanently confidential all information contained herein not already public and will use this Confidential Memorandum only for the purpose of evaluating the possible acquisition of the Property.

This Memorandum does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information, which prospective buyers may need, or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of the Owner and, therefore, are subject to material variation. This Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Memorandum.

This Memorandum is being delivered by Hudson Commercial Partners Inc. to prospective purchasers with the understanding that all prospective purchasers will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Additional information and an opportunity to inspect the site will be made available to interested © 2020 Hudson Commercial Partners, Inc. The information contained in this and qualified prospective purchasers. Hudson Commercial Partners, Inc. reserves the right to request the return of any or all of document has been obtained from sources believed reliable. While Hudson the information enclosed. Commercial Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. 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. Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

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