Property Name Here

OFFERING MEMORANDUM THE MANHATTAN 1701 ARTESIA BOULEVARD Manhattan Beach, California 90266

Capital Markets | Investment Proper ties AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of written authorization of the owner of the Property information contained herein, to consult with companies with many subsidiaries and related (“Owner”) or CBRE, Inc., and (iv) you will not use independent legal and financial advisors, and entities (each an “Affiliate”) engaging in a broad any part of this Memorandum in any manner carefully investigate the economics of this range of commercial real estate businesses detrimental to the Owner or CBRE, Inc. transaction and Property’s suitability for your including, but not limited to, brokerage services, needs. ANY RELIANCE ON THE CONTENT OF property and facilities management, valuation, If after reviewing this Memorandum, you have no THIS MEMORANDUM IS SOLELY AT YOUR investment fund management and development. further interest in purchasing the Property, kindly OWN RISK. At times different Affiliates, including CBRE return it to CBRE, Inc. Global Investors, Inc. or Trammell Crow The Owner expressly reserves the right, at its sole This Memorandum contains select information Company, may have or represent clients who discretion, to reject any or all expressions of pertaining to the Property and the Owner, and have competing interests in the same transaction. interest or offers to purchase the Property, and/or does not purport to be all-inclusive or contain all For example, Affiliates or their clients may have or to terminate discussions at any time with or or part of the information which prospective express an interest in the property described in without notice to you. All offers, counteroffers, investors may require to evaluate a purchase of this Memorandum (the “Property”), and may be and negotiations shall be non-binding and the Property. The information contained in this the successful bidder for the Property. Your receipt neither CBRE, Inc. nor the Owner shall have any Memorandum has been obtained from sources of this Memorandum constitutes your legal commitment or obligation except as set believed to be reliable, but has not been verified acknowledgement of that possibility and your forth in a fully executed, definitive purchase and for accuracy, completeness, or fitness for any agreement that neither CBRE, Inc. nor any sale agreement delivered by the Owner. particular purpose. All information is presented Affiliate has an obligation to disclose to you such “as is” without representation or warranty of any Affiliates’ interest or involvement in the sale or kind. Such information includes estimates based purchase of the Property. In all instances, on forward-looking assumptions relating to the however, CBRE, Inc. and its Affiliates will act in general economy, market conditions, competition the best interest of their respective client(s), at and other factors which are subject to uncertainty arms’ length, not in concert, or in a manner and may not represent the current or future detrimental to any third party. CBRE, Inc. and its performance of the Property. All references to Affiliates will conduct their respective businesses acreages, square footages, and other in a manner consistent with the law and all measurements are approximations. This fiduciary duties owed to their respective client(s). Memorandum describes certain documents, Your receipt of this Memorandum constitutes your including leases and other materials, in summary acknowledgement that (i) it is a confidential form. These summaries may not be complete nor Memorandum solely for your limited use and accurate descriptions of the full agreements benefit in determining whether you desire to referenced. Additional information and an express further interest in the acquisition of the opportunity to inspect the Property may be made Property, (ii) you will hold it in the strictest available to qualified prospective purchasers. You confidence, (iii) you will not disclose it or its are advised to independently verify the accuracy contents to any third party without the prior and completeness of all summaries and

MATT LEVIS Senior Associate +1 310 363 4787 [email protected] Lic.01900634

DAVE SMITH Senior Vice President +1 310 363 4887 [email protected] Lic.00991425

TIM VAUGHAN Senior Vice President +1 310 363 4888 [email protected] Lic.00902652

TABLE OF CONTENTS

05 EXECUTIVE SUMMARY

13 PROPERTY DISCUSSION 18 AREA OVERVIEW 22 FINANCIAL OVERVIEW 30 LOCAL MARKET OVERVIEW EXECUTIVE SUMMARY THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE OFFERING

CBRE, Inc., as exclusive agent, is pleased to present for sale The Manhattan, a premier, fully entitled, development opportunity located at 1701 Artesia Boulevard in Manhattan Beach. Boasting an irreplaceable Southern California surf-and-sun location and surrounded by some of the nation’s most appealing demographics and residential communities, the property is situated less than two miles from the beach near the intersection of Artesia Boulevard and Aviation Boulevard.

E X E C U T I V E S U M M A R Y 5 THE OPPORTUNITY

This property can be purchased as a fully entitled development site or a completed mixed-use property.

Entitlement Overview:

• 13,409 square feet of land

• 13,066 rentable square feet

• Seven 2-bed / 2-bath condominiums

• Two 2-bed / 2-bath townhouse-style condominiums*

• 2,885 square foot medical / commercial office suite

• Residential parking: 2 stalls + 1 guest stall per residential unit ( 27 stalls )

• Medical commercial parking: 16 stalls

• On-site amenities include a ground-level pool on the northeast corner of the property

* Owners of the land will retain ownership of the two townhomes.

6 THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach PROPERTY DESCRIPTION

FIRST FLOOR

1st Story Condo A1 = 1,004 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

1st Story Condo B1 = 1,058 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

1st Story Condo C1 = 1,000 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

1St Story Condo D1 = 1,003 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

Medical / Commercial Office = 2,885 Square Feet / 16 Parking Stalls

2 Story Townhome Condo 1 = 1,244 Square Feet / 2 Parking Stalls + 1 Guest Stall *

2 Story Townhome Condo 2 = 1,244 Square Feet/ 2 Parking Stalls + 1 Guest Stall *

SECOND FLOOR

2nd Story Condo A2 = 1,220 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

2nd Story Condo B2 = 1,220 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

2nd Story Condo C2 = 1,205 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

* Owners of the land will retain ownership of the two townhomes. THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach PROPERTY DESCRIPTION

Owner to retain unit below after construction is completed THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach PROPERTY DESCRIPTION

Owner to retain unit below after construction is completed THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach PROPERTY DESCRIPTION THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach PROPERTY DESCRIPTION THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach PROPERTY DESCRIPTION LOCATION DETAILS

• Rare opportunity for a fee simple, fully entitled development site for 9 residential units and 1 medical office space in the City of Manhattan Beach

• Fully permitted and entering the construction phase

• Easy access to world class Manhattan, Hermosa and Redondo beaches

• Residential units have full access to high quality institutional level amenities

• Ideally situated within immediate proximity to the 405, 110 and 105 freeways and blocks from Pacific Coast Highway. Los Angeles International Airport (LAX) is also a short drive away

• Manhattan Beach and Hermosa Beach retail nearby includes Target, Vons, CVS Pharmacy, Walgreens, Chase Bank, Wells Fargo Bank, Starbucks and 24-Hour Fitness

• Local restaurants include Nick’s Manhattan Beach, Manhattan Beach Post, Uncle Bill’s Pancake House, North End Bar and Grill, El Torito, Baja Sharkeez, The Rockefeller and many more

• Easy access to prime shopping, dining and entertainment venues along Manhattan Beach Boulevard in Manhattan Beach and Pier Avenue in Hermosa Beach

• Local Class A retail includes Manhattan Village, The Point, Plaza El Segundo, and Plaza Hermosa

• Property is within Manhattan beach Unified School District and just blocks from highly regarded Mira Costa High School

13 THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach

SITE THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach THE MANHATTAN 1701 Artesia Blvd., Manhattan Beach CONTACT US

JACK LEVIS MATT LEVIS DAVE SMITH TIM VAUGHAN Senior Associate Senior Associate Senior Vice President Senior Vice President +1 310 363 4919 +1 310 363 4787 +1 310 363 4887 +1 310 363 4888 [email protected] [email protected] [email protected] [email protected] Lic.01886278 Lic.01900634 Lic.00991425 Lic.00902652

Capital Markets | Investment Properties