Brandon Michaels

Home , Century City, La Cienega Boulevard

BEVERLY HILLS

LOS ANGELES, CA 90035

S LA CIENEGA BLVD

BRANDON AN IDEAL OPPORTUNITY FOR AN OWNER-USER BUYER OR MICHAELS INVESTOR TO ACQUIRE A PRIME WESTSIDE LOCATION WITH GROUP SIGNIFICANT GROWTH POTENTIAL INVESTMENT ADVISORS CENTURY CITY

BRANDON MICHAELS Senior Managing Director of Investments BEVERLY HILLS Senior Director, National Retail Group 1 Tel: (818) 212-2794 Fax: (818) 212-2710 [email protected] PROPERTY OVERVIEW License: CA #01434685 www.BrandonMichaelsGroup.com

LOS ANGELES, CA 90035 2 FINANCIAL ANALYSIS 3 COMPARABLE ANALYSIS

BRANDON MICHAELS GROUP SOUTHERN CALIFORNIA'S PREMIER SALES TEAM 4 AREA OVERVIEW

16830 Ventura Blvd. Suite 100, Encino, CA 91436 www.marcusmillichap.com S LA CIENEGA BLVD 1633 S LA CIENEGA Century City shopping center, City Century towers, business andFox Studios. on the Westside. to are the economy theImportant Westfield skyscrapers andits centers, formemployment adistinctive skyline is the metropolitanone of area’s City Century prominent most Westside. Downtown of district Angeles’ Outside inLos Angeles, Los andbusiness ha) neighborhood (71.2 is a176-acre City Century Average Household Income within a 3-mile radius: $74,256 ADJACENT TO CENTURY CITY AFFLUENT NEIGHBORHOOD Population within a5-mile radius: 953,780 enter the the market submarket andposition for the future. to for concepts new immediate marketplace, creating anopportunity amount movement of andturnover Significant market. inthe to purchase rare inatransitioning opportunity rental Extremely DEMOGRAPHICS Median Age:36 SIGNIFICANT OPPORTUNITYSIGNIFICANT WHY BUY ON LA CIENEGA SOUTH BLVD to thenorth. to the south andtheSunset Strip/SunsetBoulevard inWest Hollywood Boulevard El inHawthorne, Segundo between runs California on road thatLa Cienega arterial Boulevard isamajor north–south LA CIENEGA BOULEVARDLA 5 PROPERTY OVERVIEW 7 SIGNIFICANT GROWTH POTENTIAL. THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS AN IDEAL OPPORTUNITY FOR AN OWNER-USER BUYER OR INVESTOR TO ACQUIRE A PRIME WESTSIDE WITH LOCATION has been sale for 1633 selected has market exclusively Millichap & to of Marcus Group Michaels Brandon The feet square zoned LAC2 of land on 3,160 building situated foot retail square S. La a 2,121 Cienega Boulevard, in Los Angeles, CA. Robertson Pico in the located S. well 1633 La is of Cienega Boulevard Los submarket Angeles, City Beverly and Culver to south adjacent and Hills of of Boulevard just signalized corner Pico the Los Angeles benefits location surrounding West and affluent prime a dense from This La Cienega Boulevard. demographic. LOS ANGELES, CA ANGELES, 90035 LOS 1633 S. La Cienega Boulevard consists of a 2,121 square-foot commercial building which was previously occupied by Cosmos Upholstery, who successfully as who operated occupied previously by square-foot Cosmos was Upholstery, building which commercial S.1633 La of consists a 2,121 Cienega Boulevard 50over years. for reupholsteryarea subject The in the property and contemporarya modern furniture benefits along La with Cienega Boulevard frontage excellent from further uniquenessthe to subject adding the of property. vehicles day, per counts exceed Daily 50,000 traffic visibility. ideal providesand signage,unique creates which side location, west looking a prime Buyer for ideal opportunity an subject this making The property an Owner-User close for the of at escrow, can be delivered vacant or developer significant with location growth potential. an excellent lookingor an investor acquire to and office high end commercial as units well of as coming new residential on-line thousands with area, significant is immediate development in the addition, there In location. significant prime upside creates this for area immediate space. growth in the The West Los Angelessub-market S. ideally 1633 La is in a densely affluent located Cienega Boulevard Beverly populated, minutes and Century from Located just City, Hills people Century a five within mile radius. City most prominent the is 1,000,000 and over a one-mile within radius income household exceeding $75,000 average the with of luxury icon its for concentration and high-end shops and restaurants. an international and Beverly is in Los Hills business Angeles district outside of Downtown, subject the property surrounding retailers and regional include Smart national LA and Final, Immediate Express, Fitness, Panda KFC, Starbucks, Chase, 7 Eleven, Ross Dress Less, for CVS, more. and many THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS PROPERTY HIGHLIGHTS

PROPERTY INFORMATION

1633 S La Cienega Boulevard Address WEST HOLLYWOOD Los Angeles, CA 90035 Beverly Hills THE SUNSET STRIP

Price $1,050,000 BEVERLY HILLS Current Cap Rate 0.65% Pro Forma Cap Rate 6.83% Price/SF (Building) $495 Price/SF (Land) $332 Building SF 2,121 Land SF 3,160

Zoning LAC2 LOS ANGELES, CA 90035 APN Number 4303-028-022 Year Built 1950 Type of Ownership Fee Simple

Interest Offered: 100% fee simple interest in a 3,160 SF retail property located at 1633 S La Cienega Boulevard, Los Angeles, CA 90035.

S LA CIENEGA BLVD Terms of the Sale: Property is being offered on a free and clear basis.

Property Tours: Prospective purchasers are encouraged to visit the site prior to submitting offers. All property tours must be coordinated through the listing broker. SUMMARY OF TERMS SUMMARY PROPERTY OVERVIEW 11 979,582 Population Within 5-mile Radius 5-mile Within Population Radius Households Within 3-mile 3-mile Within Households 154,323 HIGHLIGHTS THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS Within 1-mile Radius 1-mile Within Average Household Income Income Household Average $104,993 IRREPLACEABLE WEST LOS ANGELES PICO-ROBERTSON ANGELES LOCATION IRREPLACEABLE LOS WEST Rodeo of less Beverlylocated Drive miles two between than Hills world-famous Centrally the business in Los districts of two most prominent the Angeles.and Century City, NEIGHBORHOODAFFLUENT a one-mile $104,000 income within household is radius. average The TRAFFICKED STREET HIGHLY south of FairviewFrom north and from of Rodeo a regular Road, La is Cienega Boulevard vehicles pass the surface Over and one of thoroughfares. Hollywood's major street 50,000 subject property per day. OPPORTUNITYOWNER-USER to Buyer a unique opportunity vacant, creating currently is building The an Owner-User for occupy a portion building. entire or the AREA DEVELOPMENT IN THE IMMEDIATE SIGNIFICANT units of and high-end in the new coming space commercial residential on-line Thousands significant growth potential. creating areas, and surrounding immediate INVESTMENT INVESTMENT DOWNTOWN LOS ANGELES LOS LOS ANGELES, CA 90035 LOS HOLLYWOOD

S LA CIENEGA BLVD PARK LA BREA LA PARK The Grove THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS PROPERTY DETAILS

LOCATION 1633 La Cienega Blvd. CENTURY CITY Los Angeles, CA 90035 BEVERLY HILLS SITE The subject property is located near the intersection of S La Cienega Boulevard and Airdrome Street South

SQUARE FOOTAGES The total lot size is 3,160 SF. The total building square footage is LOS ANGELES, CA 90035 2,121 SF

CROSS STREETS Intersection of S La Cienega Boulevard and South Airdrome Street

YEAR BUILT The property was built in 1950

ZONING Zoning is LAC2 S LA CIENEGA BLVD FINANCIAL ANALYSIS 15 2,121 $332 3,160 $495 0.65% 6.83% $6,866 LOS ANGELES, CA ANGELES, 90035 LOS $1,050,000 LOS ANGELES, CA 90035 CA ANGELES, LOS 8600 W PICO BOULEVARD 8600 W PICO ADDRESS Pricing: Rate: Cap Current Rate: CAP Forma Por (Building): Price/SF (Land): Price/SF SF:Building Land SF: NOI: Current THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS ANALYSIS PRICING FINANCIAL FINANCIAL $6.19 $0.39 $0.45 $0.65 PER SF $8.08/$0.67 /SF MONTH /SF $2,763.00 $2,763.00 $3,600.00 $3,600.00 $6,363.00 LOS ANGELES, CA ANGELES, 90035 LOS PRO FORMAPRO RENT $827 $954 $1,379 $13,125 $17,134 PER YEAR SF $3.00 $3.00 PRO FORMA PRO RENT/ - $1.67 RENT/SF PRO FORMA OPERATING EXPENSES* FORMAPRO OPERATING (1.25%) Taxes Insurance Utilities Repairs & Maintenance Total *Approximate expenses on industry based averages. - RENT $2,000.00 $2,000.00 $2,000.00 $17,134 $17,134 $76,356 $71,682 $93,490 $4,674.48 PRO FORMAPRO 5% - LEASE 11/30/20 EXPIRATION - - $17,134 $6,866 $24,000 $24,000 CURRENT 57% SF % 100% 43.42% ANALYSIS SF 921 2,121 1,200 TENANT

Net Operating Income: Operating Net Vacancy Expenses NNN Charges Scheduled Lease Income Total Income Total INCOME AND EXPENSEINCOME AND Total MC Upholstery

VACANT FINANCIAL FINANCIAL

RENT ROLL PRO FORMA OPERATING DATA FORMAPRO OPERATING THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 14 MARKET COMPARABLES 17 LOS ANGELES, CA ANGELES, 90035 LOS 1 2 5 6 THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 7 3 4 8551 Venice Blvd 8551 Venice Blvd 8559 Venice 6 7 CIENEGA BLVD COMPARABLES 1633 S. LA S La1737 Cienega Blvd 1646 S La Cienega Blvd Blvd W Pico 8815-8823 1754-1756 S Robertson Blvd Blvd 8535 Venice 1 2 3 4 5 SALES SALES COE 10/17/2018 12/31/2018 12/27/2018 01/23/2018 05/23/2018 06/20/2018 05/04/2018 - LOS ANGELES, CA ANGELES, 90035 LOS C2 C4 LAC2 LAC2 -CPIO C2-1LA ZONING LAC2-1VL ------CAP RATE CAP 8,712 5,001 7,990 7,450 5,227 2,487 6,098 20,952 LAND SF 4,116 4,150 5,617 2,716 1,250 9,028 4,040 2,009 BLDG SF BLDG $371.36 $394.01 $315.96 $509.07 $270.56 $329.32 $325.22 $359.36 $359.36 PRICE/SF (LAND) PRICE/SF $397.59 $789.57 $689.79 $625.92 $786.46 $784.00 $764.29 $680.69 PRICE/SF $980,000 $1,700,000 $1,650,000 $1,580,000 $2,750,000 $2,856,429 $4,435,000 $6,900,000 SALE PRICE 8551 Venice Blvd 8551 Venice Los Angeles, 90034 CA Blvd 8559 Venice Los Angeles, 90034 CA 8815-8823 W Pico Blvd W Pico 8815-8823 Los Angeles, 90035 CA 1754-1756 S Robertson Blvd Los Angeles, 90035 CA Blvd 8535 Venice Los Angeles, 90034 CA 1737 S La Cienega Blvd Los Angeles, 90035 CA 1646 S La Cienega Blvd Los Angeles, 90035 CA ADDRESS COMPARABLES

1 7 3 4 2 5 6 # AVERAGE (S): AVERAGE

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS SALES SALES 16 MARKET COMPARABLES 19 C2 4,150 5,001 7,405 6,098 4,040 2,009 LAC2 C2-1LA $371.36 $397.59 $315.96 $270.56 $786.46 $680.69 5/4/2018 6/20/2018 $1,650,000 $1,580,000 $2,750,000 05/23/2018 LOS ANGELES, CA ANGELES, 90035 LOS Venice Blvd and La Blvd Cienega Blvd Venice and La Blvd Cienega Blvd Venice Venice Blvd and Abbot Blvd Kinney Blvd Venice THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 1754-1756 Robertson Los Blvd, Angeles, 90035 CA Sales Price SF/Building Price Los Blvd, Angeles, 90034 CA 8535 Venice Sales Price Los Blvd, Angeles, 90034 CA 8551 Venice Sales Price SF/Building Price Price/SF Land Price/SF SF Building Land SF Zoning Sale Date Cross Street SF/Building Price Land Price/SF SF Building Land SF Zoning Sale Date Cross Street Land Price/SF SF Building Land SF Zoning Sale Date Cross Street COMPARABLES 4 6 5 SALES SALES - 2,716 8,712 5,617 9,028 5,227 LAC2 20,952 $329.32 $325.22 $789.57 $509.07 $625.92 $764.29 2/31/2018 1/23/2018 $1,700,000 10/17/2018 $4,435,000 $6,900,000 C4, Los Angeles LOS ANGELES, CA ANGELES, 90035 LOS W Pico Blvd and S Robertson Blvd W Pico Blvd S La Cienega Blvd and Airdrome St S La and Airdrome Cienega Blvd St S La and Airdrome Cienega Blvd Price/SF Land Price/SF SF Building Sale Date SF/Building Price Land SF Zoning Sale Date Cross Street Sale Date Cross Street 1646 S La Los Cienega Blvd, Angeles, 90035 CA Sales Price SF/Building Price SF Building Land SF Zoning Cross Street Los Blvd, W Pico Angeles,8815-8823 90035 CA Sales Price 1737 S La Los Cienega Blvd, Angeles, 90035 CA Sales Price Land Price/SF SF Building Land SF Zoning Land Price/SF Price SF/Building Price COMPARABLES

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 1 3

2 SALES SALES 18 MARKET COMPARABLES 21 1633 S LA CIENEGA BLVD AVERAGE PRICEAVERAGE PSF: $471

LOS ANGELES, CA ANGELES, 90035 LOS AVERAGE PRICE PER SF PER PRICE AVERAGE

$689.79 8559 VENICE BLVD VENICE 8559

$784.00 8551 VENICE BLVD VENICE 8551

$397.59 8535 VENICE BLVD VENICE 8535 $680.69 8535 Venice Blvd 8551 Venice Blvd 8559 Venice Blvd Average

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 1754 S ROBERTSON BLVD ROBERTSON S 1754 Blvd

$786.46 8815 W PICO BLVD PICO W 8815 $789.57

8815 W Pico Blvd 1754 S Robertson 1646 S LA CIENEG BLVD CIENEG LA S 1646 Blvd $625.92

1646 S La Cienega 1737 S LA CIENEGA BLVD CIENEGA LA S 1737 COMPARABLES Blvd $764.29 1737 S La Cienega $0.00 $900.00 $800.00 $700.00 $600.00 $500.00 $400.00 $300.00 $200.00 $100.00 PRICE PER SQUARE FOOT SQUARE PER PRICE SALES SALES 1,250 2,487 $394.01 $784.00 $980,000 12/24/2018 LAC2-1VL-CPIO LOS ANGELES, CA ANGELES, 90035 LOS Venice Blvd and Abbot Blvd Kinney Blvd Venice 8559 Venice Blvd, Los Blvd, Angeles, 90034 CA 8559 Venice Sales Price Land SF Cross Street Price SF/Building Price Land Price/SF SF Building Zoning Sale Date COMPARABLES

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 7

20 SALES SALES MARKET COMPARABLES 23 LOS ANGELES, CA ANGELES, 90035 LOS 6 1 2 3 5 4 7 8 THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 6006 Blvd W Pico 8562-8566 Blvd W Pico 8656-8658 Blvd W Pico 6 7 8 CIENEGA BLVD COMPARABLES 1633 S. LA Plaza Versailles 1435 S La Cienega Blvd Robins Building 1804 S La Cienega Blvd 1912-1916 S La Cienega Blvd 1 2 3 4 5 RENT RENT MG NNN NNN NNN NNN +Utilities +Utilities LEASE TYPE Negotiable LOS ANGELES, CA ANGELES, 90035 LOS 670 900 1,200 1,300 3,227 2,597 4,620 2,852 8,300 AVAILABLE SF AVAILABLE 0.1 0.14 0.21 0.27 0.32 0.24 0.06 0.25 0.29 LOT SIZE 2,178 6,516 5,770 5,876 2,597 4,832 8,300 12,122 10,450 BLDG SF BLDG $31.80 $31.80 $33.00 $33.00 $33.00 $48.00 $48.00 $36.23 $36.00 $36.00 $36.00 $36.00 $36.00 $36.00 RENT/SF/YEAR $2.75 $2.75 $3.02 $3.02 $4.00 $4.00 $3.00 $3.00 $3.00 $3.00 $3.00 $2.65 $3.00 RENT/SF/MONTH ADDRESS 8562-8566 Blvd W Pico Los Angeles, 60035 CA 8656-8658 Blvd W Pico Los Angels, 90035 CA 1804 S La Cienega Blvd Los Angeles, 90035 CA S La1912-1916 Cienega Blvd Los Angeles, 90034 CA 6006Blvd W Pico Los Angeles, 90035 CA Versailles Plaza Plaza Versailles S La 1415 Cienega Blvd Los Angeles, 90035 CA 1435 S La Cienega Blvd Los Angeles, 90035 CA Building Robins 1728 S La Cienega Blvd Los Angeles, 90035 CA COMPARABLES

1 # 7 3 4 8 2 5 6 AVERAGE(S):

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS RENT RENT 22 MARKET COMPARABLES

25 LOS ANGELES, CA ANGELES, 90035 LOS SF PER RENT AVERAGE

$3.02 Average 8656-8658 W PICO BLVD PICO W 8656-8658 Blvd $3.00

8656‐8658 W Pico 8562-8566 W PICO BLVD PICO W 8562-8566

Blvd $3.00 6006 W PICO BLVD PICO W 6006 $2.75

6006 W Pico Blvd 8562‐8566 W Pico 1912-1916 S LA CIENEGA BLVD CIENEGA LA S 1912-1916 $4.00 Cienega Blvd 1912‐1916 S La

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 1804 S LA CIENEGA BLVD CIENEGA LA S 1804

Blvd $2.75 ROBINS BUILDING ROBINS $3.00

Robins Building 1804 S La Cienega 1435 S LA CIENEGA LA S 1435

Blvd $2.65 VERSAILLES PLAZA VERSAILLES $3.00 COMPARABLES Versailles Plaza 1435 S La Cienega $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 PRICE PER SQUARE FOOT SQUARE PER PRICE RENT RENT 0.1 MG 0.25 2,597 2,597 $3.00 1,300 NNN 5,770 $2.75 $36.00 $33.00 LOS ANGELES, CA ANGELES, 90035 LOS 4 8656-8658 | Los Blvd W Pico Angeles | 90035 Rent/SF/MO Rent/SF/Year SF BLD Lot Size SF Available Lease Type 1804 S La | Los Cienega Blvd Angeles | 900035 Rent/SF/MO Rent/SF/Year SF BLD Lot Size SF Available Lease Type 8 0.14 0.24 4,620 $3.00 3,227 4,832 $3.00 10,450 $36.00 $36.00 +Utilities Negotiable 7 3 Lease Type 8562-8566 | Los Blvd W Pico Angeles | 90035 Rent/SF/MO Rent/SF/Year SF BLD Lot Size SF Available Available SF Available Lease Type Lot Size Rent/SF/Year SF BLD Robins Building | Los Building Robins Angeles | 90035 Rent/SF/MO 0.06 900 0.29 2,178 1,200 NNN $2.75 NNN $2.65 12,122 $33.00 $31.80 6 2 Lease Type 6006 | Los Blvd W Pico Angeles | 90035 Rent/SF/MO Rent/SF/Year SF BLD Lot Size SF Available Lease Type Rent/SF/Year Lot Size SF Available 1435 S La | Los Cienega Blvd Angeles | 90035 Rent/SF/MO SF BLD 670 0.32 0.27 NNN $4.00 8,300 8,300 5,874 $3.00 $48.00 $36.00 +Utilities COMPARABLES

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS 5 1 Rent/SF/Year SF BLD Lot Size SF Available Lease Type Rent/SF/MO 1912-1916 S La | Los1912-1916 Cienega Blvd Angeles | 90034 Rent/SF/Year BLD SF Lot Size Available SF Lease Type Rent/SF/MO Versailles Plaza | Los Angeles Plaza | 90035 Versailles RENT RENT 24 AREA OVERVIEW 27 THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS to the world famous upscale shopping street of Rodeo Drive. Drive. Rodeo of upscale shopping street famous the world to comprised and is commerce of is the centerpiece Drive Rodeo destinations and hotel most luxurious shopping, dining the of has consistently Hills market The Beverly in the world. States. in the United rents the highest commercial achieved and supply is limited. soaring Hills is Demand in Beverly local one-of-a-kind fashion houses to world-renowned From located a shoppers’ paradise Hills offers boutiques, Beverly known as the Golden area easily walkable within a compact, for luxury is the epicenter Drive in retail Rodeo Triangle. also provide and Cañon Drives Beverly States. the United local boutiques, unique luxury of hundreds fantastic shops, and open-air cafés. Anchoring the Hills restaurants Beverly is Department Store the Golden Triangle of border southern luxury the titans of including Neiman- home to retailing, Row, The city New York. and Barneys Fifth Saks Marcus, Avenue with its luxurious live/work/play/shop attracts residents homes Hills residential lifestyle. Median sales prices in Beverly million dollars. four easily exceed Beverly Hills is bordered on the northwest the Los Angeles by is bordered Hills Beverly Mountains, and the Santa Monica Bel-Air of neighborhood the Carthay Hollywood, neighborhood West on the east by Los Angeles, and on District of Angeles, and the Fairfax Los of Los Angeles. of neighborhood Beverlywood the south by the Beverly by the city of is formed “Platinum Triangle” The area’s Bel Air and of Hills and the Los Angeles neighborhoods Holmby Hills. in Los Angeles affluent city Hills is an extremely Beverly celebrities, Hollywood include Its residences County. Hills is home people. Beverly politicians, and other prominent Beverly Hills Beverly sophistication and luxury. and the Rodeo Drive shopping district , district Drive shopping , and the Rodeo Beverly Hills is a world-renowned icon of Beverly Hills

Home to many celebrities, five-star hotels, five-star hotels, celebrities, to many Home

1633 26 AREA OVERVIEW AREA Century City 1633Century City is a 176-acre (71.2 ha) neighborhood and World class business park business district in Los Angeles’ Westside. Outside of Downtown Los Angeles, Century City is one of the metropolitan area’s most prominent employment

AREA OVERVIEW with approximately ten centers, and its skyscrapers form a distinctive skyline million square feet of Class A on the Westside. Important to the economy are the Westfield Century City shopping center, business office space and a brand-new towers, and Fox Studios.

Westfield Shopping Center Westfield Century City and Fox Studios occupy important acreage in the neighborhood. As of 2016, Westfield Century City is currently undergoing an $800 million renovation and expansion that aims to maintain the center’s status as one of the Westside’s premier shopping and entertainment destinations. One tower, Constellation Place (formerly the MGM Tower), has the headquarters of Houlihan Lokey, International Creative Management, and International Lease Finance Corporation. Crystal Cruises is also headquartered in Century City.

In fact, with its more than ten million square feet of prime office space, Century City provides a professional home to some 2,500 businesses and their 40,000 employees, including many prominent lawyers, doctors, bankers, CPAs, communication and entertainment companies, real estate firms and more.

28 AREA OVERVIEW 31 31

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS

Westfield Century City’s expansion creates a 1.2 million square foot showcase for more than 200 luxury, 200 luxury, than for more foot showcase a 1.2 million square creates expansion CenturyWestfield City’s featuring its latest Nordstrom flagship contemporary brands, a new three-level designer international and as well Macy’s, two-level new modern Bloomingdale’s, three-level remodeled completely design concepts, flavors. cuisine, and its most authentic first culture, Eataly celebrating Italian Coast’s as the West easy-to-use incorporating Westfield’s structure a new parking is also completing CenturyWestfield City’s services valet included upgraded amenities, highlights have Additional assist’ system. premium and ‘park and changing rooms. parking lounge with secure and a new bicycle Wi-Fi free the $800+ in the City as well, continued economic growth commitment to Underscoring Westfield’s and retail permanent 10,000 new Century approximately Westfield City will create of million revitalization in economic output. $1.4 billion generate to construction jobs and is projected Westfield Century City Century Westfield AREA OVERVIEW AREA AREA OVERVIEW 33 62,845 $61,024 Businesses radius a 5-m within Median HH radius incomeMedian 5-m within THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS within 5-m radius 5-m within 294,190 979,582 Population within 5-m radius 5-m within Population Renter Occupied Households Occupied Households Renter within 5-m radius 5-m within 117,701 $91,415 Owner Occupied Households Occupied Households Owner Average HH radius income 5-m within Average Pico-Robertson has a distinct community feel, with shops and restaurants within within with restaurants and shops a distinct has Pico-Robertson community feel, of and South Boulevard Pico thoroughfares the main Along easy distance. walking delis to from ranging you'll find of dozens options, dining Boulevard, Roberston upscale steakhouses. Graduate Degree Graduate 22.98% FEMALE 53% 35.35% Bachelor’s Degree MALE 47% 5.85% Associates Degree

High SchoolHigh EDUCATION Total Population of Pico-Robertson, Population Los Angeles. Total 36.1. median age is The

Pico-Robertson is the heart of LA's Jewish community, with dozens of kosher restaurants, kosher supermarkets, several Jewish day and high schools, day and six Jewish several supermarkets, kosher restaurants, of kosher dozens with Pico-Robertson community, heart Jewish the is of LA's 1980s flee in the to and they've here persecution immigrated in Iran, Jews synagogues. mix Persian the of to added Mexican, Chinese, their cuisine Many and a mix are streets of mostly neighborhood. the places single story residential around The Italian apartment homes neighborhood and small buildings. This is by Beverlywood west on the bordered and Cheviot north on the Hills, by by Beverly Carthay east and Mid-City. on the Hills, 46,654

SUMMARY 14.77%

THE BRANDON MICHAELS | OFFERING & MILLICHAP GROUP MEMORANDUM | MARCUS

32 AREA OVERVIEW AREA BRANDON MICHAELS

GROUP

BRANDON MICHAELS Senior Managing Director Investments Senior Director, National Retail Group Tel: (818) 212-2794 LOS ANGELES, CA 90035 [email protected] License: CA #01434685