WEST 14TH STRE ET South Park Development Opportunity South Park Development Opportunity

CONFIDENTIALITY AND DISCLAIMER

The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements presented by: and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look Anthony Ying Jay No to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, Senior Retail & Multifamily Investment Advisor Retail Investment Advisor for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. 949.558.0305 949.558.0311 [email protected] [email protected] This Marketing Brochure is a solicitation o f interest only and is not an offer to sell the Property. The Owner expressly DRE #02052345 DRE #02052695 reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real In association with: Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser PACIFIC PARTNERS should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase REAL ESTATE INVESTMENTS & Agreement shall bind the property and each prospective purchaser proceeds at its own risk. Aram Garikian Martin D. Agnew Ryan R-Serling Zac Freehling Associate First Vice President Investments Senior Associate Director

2 3 INVESTMENT OVERVIEW South Park Development Opportunity Development Summary SVN Vanguard, in conjunction with Marcus & Millichap and Pacific Partners, is pleased to present 208 W 14th St, 212-216 W 14th St , 1404 S Olive St, and 1410 S Olive St. This rare, block-to-block, mixed use development opportunity is located at the corner of W 14th St and South Olive St, in the center of the South Park neighborhood of Downtown .

The site comprises 0.66 acres and falls within the Greater Downtown Housing Incentive Area, which excludes it from conventional C2 density calculations. The site also falls under the City of Los Angeles Transit Priority Area, Transit Oriented Communities (Tier 3), State Opportunity Zone, and the Los Angeles State Enterprise Zone.

The City Center, South Park Neighborhood is encouraged to be a predominantly residential, mixed-use gateway. The subject property is located directly across the street from Jade Enterprises’ proposed 154-unit, mixed use “Emerald” development, and is just blocks away from the Los Angeles Convention and Staples Centers. Numerous other developments surround the site, illustrating the bloom of residential projects in the neighborhood. Furthermore, the population in the immediate area is also becoming increasingly more dense. Stronger demographics and an influx of capital from around the world have created a 208 & 212-216 W 14TH ST wonderful opportunity for a developer/investor to capitalize on the potential of 1404 & 1410 S OLIVE ST this promising pocket of . Los Angeles, CA 90007 • Located in an Opportunity Zone • With a Potential FAR Of 6:1*, this Development has the Ability to be Over 200,000 Suggested Asking Price: Request for Offer Buildable SF: 28,747 (0.65 acres) Buildable Square Feet Zoning: C2-2D-O • Massive Growth in the Immediate Area – South Park is One of the Most Densely FAR: 6:1 APN’s: 5134-024-001 Developed Areas in Los Angeles’ Recent History 5134-024-006 • Over 20 New & Proposed Mixed-Use Communities within Blocks – with Units Totaling in 5134-024-008 5134-024-010 the Thousands 5134-024-013 • Site is Located Directly Across the Street from Jade Enterprises’ “Emerald” Project • Three of the Nine Proposed Downtown Venues for the 2024 Olympics are Located in the Heart of South Park, Only Blocks Away * See Page 14 for details about FAR 6 7 Site Overview Site Plan •T otal Number of Buildings: 4 1410 S Olive St S Hill St •T otal Rentable Building Area: 40,999 SF Property Summary •T otal Lot Size: 28,747 SF (0.65 Acres) • Rentable Building Area: 10,519 SF • First Floor: 7,352 SF •APN’s: • Second Floor: 3,166 SF 5134-024-001 • Office (included in 10,519): 4,379 SF 5134-024-006 • Mezzanine (not included in 10,519): 3,050 SF 5134-024-008 • Year Built: 1992 5134-024-010 • Lot Size: 13,941 SF ( 0.33 Acres) 5134-024-013 Site Description • Power: 400A/ 120-240V/ 3 Phase

W 14th St W 15th St • Warehouse Clear Height: 18’ •Zoning: C2-2D-O Commercial Zoning • Loading: 2 Ground Level Drive In Doors • Parking: 16 Secured Spaces 208 W 14th St Parcel •APN’s: Property Summary 5134-024-008 • Rentable Building Area: 23,280 SF 5134-024-013 • Units: 60 Studios • Zoning: C2-2D-O Commercial Zoning •Year Built: 1914 •Lot Size: 6,323 SF (0.14 acres)

Parcel •APN: 5134-024-001 1404 S Olive St •Zoning: C2-2D-0 Commercial Zoning Property Summary • Rentable Building Area: 1,200 212-216 W 14th St SF • Year Built: 1961 Property Summary • Lot Size: 2,407 SF ( 0.06 Acres) • Rentable Building Area: 6,000 SF Site Description • Year Built: 1928 • Parking: 5 Secured • Lot Size: 6,076 SF (0.14 Acres) Spaces Site Description Parcel • Power: 100A/ 240V/ 1 Phase • APN: 5134-024-010 • Clear Height: 14’ • Zoning: C2-2D-O Commercial Zoning S Olive St • Loading: 3 Storefront Roll-Up Doors

Parcel • APN: 5134-024-006 • Zoning: C2-2D-O Commercial Zoning 8 9 Quali ied Opportunity Zone Details CANNABIS The federal tax bill passed at the end of December 2017 allows the Governor to designate certain census tracts as Opportunity Zones. Investments made by individuals through special SUBJECT funds in these zones would be allowed to defer or eliminate federal taxes on capital gains. ORDINANCES If a property or business is purchased within a qualified Opportunity Zone and held for a minimum of 5 years, there is a 10% reduction in the capital gains tax; if held for 7 years, the Under California law, adults 21 or older can reduction jumps to 15%; but the biggest benefit comes after holding the asset for at least 10 use, carry, and grow cannabis. Buying cannabis PROPERTY ELIGIBILITY years - the reduction remains at 15% but there is also a ZERO tax on appreciation of aquired (without a valid physician’s recommendation or property. Additionally, when an asset is purchased in these opportunity zones the Investor county-issued medical marijuana identification Cultivation* must invest back into the developement of the property, at least as much or more capital than card) became legal under California law for Type 1A | Type 1C | Type 2A | Type 3A | Type 4 | Type 5 the purchase price. adults 21 or older on January 1, 2018. Use of Indoor Cultivation: Businesses that grow cannabis medicinal cannabis is legal under California law if you have a valid physician’s recommendation Manufacturer 1 & 2* or a valid county-issued medical marijuana Type 6 & 7 identification card. To buy medicinal cannabis, Level 1 Manufacturing: Businesses that produce cannabis products using you must be 18 or older and have either a valid nonvolatile solvents, or no solvents Level 2 Manufacturing: Businesses that produce cannabis products W 14th Street physician’s recommendation, a valid-county using volatile solvents issued medical marijuana identification card or be a Primary Caregiver as defined by the Testing* Health and Safety Code, with a valid physician’s Type 8 recommendation for the patient. Businesses that evaluate the quality and safety of cannabis and/or cannabis products Beginning January 1, 2018 businesses were required to have both a state license and local Distributor* approval to engage in commercial cannabis Type 11 activity. Businesses that supply other businesses with cannabis products

Within the City of Los Angeles, local approval Microbusiness* will come from the newly established Type 12 Businesses that cultivate cannabis on an area less than 10,00 SF and act as a Department of Cannabis Regulation (DCR). licensed distributor, Level 1 manufacturer, and retailer DCR is responsible for licensing and regulating

legal cannabis businesses. *Buyer to Verify 10 11 Development Highlights By-Right 3:1 FAR

• Gross Buildable Area of 86,241 Square Feet • 87-Units, Studios, 1-Bedroom/1-Bathroom, 2-Bedroom/2-Bathroom • 7,500 Square Feet of Ground Floor Commercial Space • 62,993 Square Feet of Residential Apartment Homes

Potential 6:1 FAR with 35% Density Bonus

• Gross Buildable Area of 232,850 Square Feet • 248-Units, Studios, 1-Bedroom/1-Bathroom, 2-Bedroom/2-Bathroom • 13 - Very Low Income • 25 - Low Income • 15,000 Square Feet of Ground Floor Commercial Space • 180,280 Square Feet of Residential Apartment Homes

Disclaimer: Buyer to do own due diligence

12 13 South Park Development Opportunity Greater Downtown Housing Incentive Area: South Park Development Guidelines Due to its location, the site is not subject to C2 density calculations incentives:

• 35% increase in total floor area Standards for the South Park Neighborhood • The definition of “floor area” excludes public areas accessible to all residents, common areas that serve both residential and commercial uses, and any • By-right, properties limited to a maximum floor area of three times the buildable area (3:1 FAR) unenclosed architectural features (i.e halls, lobbies, porte-cocheres, etc.) • Additional floor area may be approved through a Transfer of Floor Area (TFAR) up to a maximum of 6:1 FAR • Building Height: All projects shall be permitted an unlimited building height subject to the following exceptions: • Required open space is reduced by one half, provided a fee is paid in lieu of providing the open space • 75’ for CR; otherwise none • No parking spaces shall be required for dwelling units or guest rooms set aside for households earning less than 50% of the Area Median Income as Development Regulations (Permitted Uses, Including, but not limited to): determined by LAHD • Apartment Houses • Department Stores • Museums • No more than one parking space shall be required for each dwelling unit, • Arcades, Arenas • Dry Cleaners • Offices (including spaces allocated for guest parking) • Banks • Multiple Residential Units • Recreation Centers • Beer & Wine Tasting Establishments • Educational Institutions & Universities • Retail Stores Eligibility for Floor Area Bonus • Bowling Alleys • Eldercare Facilities and Hospice • Storage Facilities • Business Colleges, Charter Schools • Hospitals • Stadiums & Theaters • 5% of the total number of dwelling units shall be provided for Very Low • Bars, Bakeries, Cafés, Restaurants • Hotels & Motels • Yoga Studios, Gyms Income households; and • Churches or Temples • Art Galleries & Libraries • One of the following shall be provided: • Community & Cultural Centers • Motion Picture Studios • 10% of the total number of units for Low Income households OR •15% of the total number of units for Moderate Income households OR • 20% of the total number of units for Workforce Income households (150% of Area Median Income) SETBACKS

Provided that the ground floor of the project is a commercial/retail use, there are no required setbacks.

If the ground floor is residential, setbacks are: • Front – 15’ • Sides – sliding scale up to 16’ 14 • Rear – 15’ sliding up to 20’ 15 South Park Neighborhood Developments South Park Neighborhood Developments

6 7

1 2 3 4 1600 FIGUEROA ST 1400 FLOWER ST 1400 FIGUEROA ST 1344 FLOWER ST

18 5 6 7 8 1300 FIGUEROA ST 14TH & HILL EMERALD 1323 S GRAND AVE 17 13 15 14 12 11 16 5 10 9 2 4 20 8 3 9 10 11 12 1 7 1340 S OLIVE STREET - EMERALD 1233 S GRAND AVE MORRISON HOTEL HOPE STREET HOTEL 1258 S FIGUEROA ST 1340 S HILL STREET 6 19

“The project, by Humphreys & Partners, calls for the construction “The project is slated for a .67-acre parking lot on the eastern perimeter of of a seven-story edifice that would feature 233 rental apartments - the South Park neighborhood. Plans call for a seven-story structure, offering including 21 affordable units - atop 9,000 square feet of ground-floor 154 apartments above approximately 10,700 square feet of ground-floor commercial uses and 259 basement parking spaces. Other project commercial space and two levels of underground parking. 13 14 15 16 components include amenities such as a fitness center, a swimming Renderings portray a contemporary L-shaped building, featuring a rooftop CIRCA 1212 S FLOWER ST 1133 S HOPE ST MACK URBAN TOWER pool, and a central courtyard. deck, a podium-level swimming pool and a corner retail plaza. According to a project page from the MVE + Partners website, the series of cascading open The contemporary mid-rise structure is being designed to include spaces is intended to create a “softer urban street edge.” SUBJECT PROPERTY exterior finishes such as plaster, stone veneer, and metal panels. Emerald is the latest in a series of gem-inspired residential-retail developments A timeline for the project has not been announced. It received from Downtown landowner Jade Enterprises, following similar projects such 17 18 19 20 approvals from the City of Los Angeles in late 2017.” as Onyx, Topaz, and Sapphire. OCEANWIDE PLAZA OLYMPIC TOWERS CITY MARKET ONYX Located at 1340 S. Olive Street, the project represents an expansion of South 16 Park’s residential building boom.” 17 CLOSE PROXIMITY TO: South Park: A Neighborhood with Purpose and Direction

The South Park Business Improvement District (SPBID) works relentlessly to ensure the Southwest corner of DTLA is clean, safe, and ever-improving. Launched in 2005, the South Park BID is a non-profit 501(c)6 managed by the South Park Stakeholders Group. T.O.C.

Nestled in the Sports & Entertainment District, the SPBID GRAND HOPE PARK manages a 52-block area containing the , Transit Oriented Communities (TOCs) include land use planning L.A. LIVE, Los Angeles Convention Center, California Hospital and community development policies that maximize access to Medical Center, and LA Metro Pico station stop. FASHION INSTITUTE OF DESIGN transit as a key organizing principle and acknowledge mobility AND MERCHANDISING (FIDM) as an integral part of the urban fabric. TOCs promote equity A Board of Directors, made up of South Park property owners and sustainable living by offering a mix of uses close to transit and stakeholders, oversees the management of the SPBID. The LA CONVENTION CENTER to support households at all income levels, as well as building full-time management team leads the day-to-day operations densities, parking policies, urban design elements, and first/last of SPBID initiatives and programs including: security and STAPLES CENTER mile facilities that support ridership and reduce auto dependency. maintenance of our streets, coordination with local developers, interaction with our valued residents, and business support CALIFORNIA HOSPITAL MEDICAL The TOC approach goes beyond the traditional transit oriented CENTER services. The Board of Directors also works closely with city development (TOD) model, which typically concentrates on a agencies in carrying out the City of Los Angeles-approved single development, to focus on shaping vibrant communities South Park BID Management Plan. LOS ANGELES TRADE TECH COLLEGE (LATTC) around transit. By connecting communities, destinations, and amenities through improved access to transit, TOCs promote SPBID’s Clean and Safety Teams, who are easily recognized by walkable and bike-able communities that accommodate their signature forest green South Park uniforms, patrol South LA LIVE more healthy and active lifestyles; improve access to jobs and Park 24-hours a day, seven days a week to ensure a positive The mission of the SPBID is to continually support the unique economic opportunities; and reduce greenhouse gas emissions. experience for visitors and residents. living and commerce experience for its residents and businesses by UNIVERSITY OF SOUTHERN CALIFORNIA facilitating a safe, clean, collaborative and wholesome environment, while leveraging the opportunities that arise due to its location and 18 role in the historic transformation of DTLA. 19 MARKET OVERVIEW South Park Neighborhood The South Park area (generally bound by Eighth Street, Main Street, the Santa Monica Freeway, and the Harbor Freeway) houses a mix of residential, medical, commercial, and retail uses. Grand Hope South Park is a flourishing urban neighborhood nestled in the entertainment hub of Downtown Los Park, the center of the new South Park community is located on Angeles (DTLA). Housing both the famed Sports & Entertainment District and a vibrant residential Hope Street between Ninth Street and Olympic Boulevard. The park, designed by landscape architect Lawrence Halprin, is surrounded by community, South Park proudly offers something for everyone. Home to L.A. LIVE, Microsoft Theater the Fashion Institute of Design and Merchandising, housing including the Skyline condominiums, Metropolitan apartments, Renaissance (formerly Nokia Theater), STAPLES Center, Los Angeles Convention Center, California Hospital Tower apartments, and others. Hope Street Promenade, a pedestrian street also designed by Halprin, will connect the residential community Medical Center, world-class restaurants, over 6,000 residents, many new development projects, and of South Park with the Financial Core and the Central Library. much more, South Park is the place to be. South Park is recognized to be a mixed-use community with a significant concentration of housing. This thriving residential South Park Area Development Map community & entertainment powerhouse includes the proximate Updated 8.20.2018 siting of auxiliary support services such as retail and commercial developments that provide employment opportunities for area 51 52 53 54 Current South Park Development Projects residents. Towards that end, and in the interest of creating a 46 linkage between jobs and housing, the development of substantial, 42 45 1) Olympia: City Century (1,367 units) 37) Herald Examiner (80k office space) As the two-time recipient of the International Downtown Association 43 44 2) Cambria Hotel: PPP (225 keys) 38) Proper Hotel (151 keys) community benefitting commercial projects is being encouraged. 3) JW Marriot Expansion: AEG (855 keys) 39) Convention Center Expansion (IDA) Pinnacle Award – in 2015 for Public Space Improvements and Along the western edge of the South Park area, new retail stores, 47 40) 1333 Hope: (33 units) 6 4) 925 Figueroa: Regalian (200 units, 220 keys) hotels, restaurants and entertainment venues are expected to emerge 5) Olympic Tower: Ben Neman (374 units, 373 keys) 41) 1600 Flower: (250 units, 300 keys) 58 in 2016 for Events and Programming – the South Park Business 59 55 6) Alina: Holland Partners (341 units) in the north-south Figueroa-Flower-Hope Street corridors as a result 2 4 7) W Hotel: (435 units, 300 keys) of increasing attendance at the Convention & Staples Centers. 57 8) Oceanwide Plaza: Oceanwide (504 units, 183 keys) Improvement District (BID) continues to ensure that the neighborhood 1 5 56 9) Circa: Jamison Properties (648 units) South Park Adjacent Projects 36 10) Lightstone Hotels: Lightstone (1,000 keys) is reaching its full potential and moving toward bigger and better The Los Angeles Sports and Entertainment District (LASED) Specific 48 11) City Lights on Fig: Tri-Cal (1024 keys) 42) Metropolis Phase II: Greenland USA (1,250 units) Plan, adopted by City Council on 9/4/2001, approved a maximum of 12) 1400 Figueroa: DHG (106 units) 43) 888 Hope: CIM (526 units) 30 goals. 7 49 13) Honda Development Site 44) 845 Olive (205 units) 3.75 million square feet of entertainment/ mixed-use development 14) 1600 Figueroa: L & R (300 units, 250 keys) 45) 820 Olive: Onni (589 units) and includes a variety of uses including hotel, retail, entertainment 15) 1133 Hope: Fulton St. Ventures (208 units) 46) Trade Center 3 15 38 16) 1212 Flower: Onni (730 units) 47) The Alexan: Trammel Crow (305 units) residential, live theater movie theater, office, medical clinic/sports 32 22 17) 1138 Broadway: Blue Arch (139 keys) 48) Onni Office Conversion medicine center, tourism and related uses. The LASED supports the goals 17 8 29 33 37 50 18) Onyx Phase II: Jade Enterprises 49) Hoxton Hotel: (150 keys) for the South Park community by providing expanded development of 19) 1319 Flower Hotel (43 keys) 50) Main Street Park: Jade Enterprises (379 units) 31 26 20) 1334 Flower (150 units) 51) 744 Figueroa: Mitsui Fudosan (443 units) this area as a pocket of major entertainment/mixed-use development. 16 21) 1370 Flower (147 units) 52) The Bloc: Ratkovich Company 9 27 22) 1111 S. Hill: South Hill Holdings (528 units) 53) 8th and Grand: Mitsui Fudosan (409 units) 23 23) Morrison Hotel : Relevant (100 units, 473 keys) 54) Brookfield Residential Tower (780 units) The southern portion of South Park, anchored by California Hospital 10 24) California Hospital Expansion 55) 955 Broadway (250 units) Medical Center, will continue to attract increasing healthcare and 18 25) 1323 Grand (284 units) 56) Broadway and Olympic (150 units) education related employment, and new service businesses. Commercial 26) 1201 Grand: City Century (312 units) 57) The Hill (232 units) 39 11 28 27) 1233 Grand: City Century (150 units) 58) 920 Hill (239 units) and mixed-use expansion between the Convention Center and Staples 19 40 25 28) 1317 Hope (34 units) 59) 949 S. Hope: Forest City (236 units) Center areas to the west, and Transamerica Center to the east, is also 20 35 29) Aven: Mack R.E. Group (670 units) 60) 1330 Pico: Sandstone (696 keys) expected to occur on the east-west streets including Olympic and Pico 60 34 30) 11th and Olive: Crescent Heights (800 units) 24 31) 12th and Olive: Mack R.E. Group (243 keys) Boulevards, and north and south along the Grand Avenue, Olive Street, 12 21 32) 1115 Olive: Mack R.E. Group (713 units) and Hill Street corridors. The anticipated job growth in South Park 33) 1120 Olive: Mack R.E. Group (536 units) Map Key 34) Emerald: Jade Enterprises (154 units) over the next few years is also expected to attract large commercial 13 35) 14th and Hill: (240 units) South Park BID Planned projects that will combine commercial and residential development 36) Onni Olympic: (700 units) Boundary Under Construction 14 41 and take advantage of the benefits of this unique downtown location. www.SouthPark.LA FB/SouthParkLosAngeles @SouthParkLA

SOUTH PARK BUSINESS IMPROVEMENT DISTRICT (SPBID) 22 1100 S Flower St. Suite #3400, Los Angeles, CA, 90015 23 he end of the year brought an announcement that signals an even brighter future for DTLA. In December, LA City Council approved a $1.2 billion development proposal at the Angels Landing site, which would include the tallest tower in Downtown at 88 stories, featuring hotel rooms from SLS and Mondrian, condos, and a new charter elementary school.

DCBID President and CEO Carol Schatz said, “Downtown Los Angeles continues to be among the most dynamic residential markets in the nation. Even with the record setting opening of new projects, demand for DTLA housing continues to grow and occupancy rates continue to tighten. Whether you own DTLA a business, a boutique, a restaurant, or want to get one started, there is no more exciting place to be than DTLA.”

In addition to the strong multifamily numbers, the report highlights a thriving hospitality market. During 2017, DTLA added 1,400 rooms from national brands and luxury boutiques alike, all the while increasing occupancy levels, room rates, and revenues. And much like the apartment market, there is more on the way.

Both the retail and office markets remained strong with increased activity and absorption countering new deliveries. Office rents continue to climb, increasing 5.4% year-over-year, and more than 15% over the past two years. DTLA’s retail market absorption is up more than tenfold over 2016.

Highlighting the increased office activity was Brookfield signing Bank of America to a lease renewal and expansion at its namesake tower, bringing the deal to a total of 218,000 square feet. www.losangeles.com

The Downtown Center Business Improvement District (DCBID) released its Q4 2017 Downtown Market Report, revealing that the DTLA Renaissance grows ever stronger, with substantial gains scored across all sectors.

Residential development led the way with a record-breaking 2,831 units coming to market in 2017 in 11 projects. With almost 10,000 more units under construction and almost 30,000 units proposed, more records are likely to fall in the coming years.

Although residential was the most active sector, the defining event of 2017 was the opening of the Wilshire Grand Center, an aspirational project that set a new bar for scale and sophistication.

Among the retailers who arrived in DTLA in 2017, none was bigger than Nordstrom Rack, which opened at FigAt7th. Other high- end fashion retailers to open included COS, The Loit, and Le Box Blanc. Similarly, new restaurants such as Bestia, Bavel, Giulia, Rossoblu, Spire 73, and Broken Shaker expanded Downtown’s already impressive dining options.

24 25 Demographics Demographics

POPULA T IO N 1 Miles 3 Miles 5 Miles HOUSEHOL DS BY INCOME 1 Miles 3 Miles 5 Miles Population Race and Ethnicity . 2022 Projection . 2017 Estimate Total Population 39,761 578,483 1,321,677 $200,000 or More 3.87% 1.80% 2.65% In 2017, the population in your selected geography is 37,706. The The current year racial makeup of your selected area is as follows: . 2017 Estimate $150,000 - $199,000 3.14% 1.84% 2.35% population has changed by 26.67% since 2000. It is estimated that the 37.11% White, 8.74% Black, 0.07% Native American and 14.64% Total Population 37,706 571,059 1,324,120 $100,000 - $149,000 7.76% 5.62% 7.14% population in your area will be 39,761.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: . represents a change of 5.45% from the current year. The current 70.42% White, 12.85% Black, 0.19% Native American and 5.53% 2010 Census $75,000 - $99,999 6.31% 6.48% 7.79% population is 53.02% male and 46.98% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted Total Population 34,159 540,413 1,263,368 $50,000 - $74,999 9.63% 13.07% 14.95% population in your area is 32.73, compare this to the US average independentlyof race. . 2000 Census $35,000 - $49,999 10.43% 14.02% 14.27% which is 37.83. The population density in your area is 12,000.57 Total Population 29,767 528,753 1,258,609 $25,000 - $34,999 9.09% 13.38% 12.95% people per square mile. People of Hispanic origin make up 61.44% of the current year . Daytime Population $15,000 - $24,999 14.80% 17.81% 16.34% population in your selected area. Compare this to the US average of 2017 Estimate 129,905 755,668 1,336,276 Under $15,000 34.98% 25.99% 21.56% 17.88%. HOUSEHOL DS 1 Miles 3 Miles 5 Miles Average Household Income $55,043 $46,863 $54,726 . 2022 Projection Median Household Income $25,211 $29,856 $34,333 Total Households 18,410 191,330 427,141 Per Capita Income $24,355 $15,940 $17,705 Households Housing . 2017 Estimate POPULA T IO N PROF IL E 1 Miles 3 Miles 5 Miles There are currently 16,245 households in your selected geography. The median housing value in your area was $458,108 in 2017, Total Households 16,245 181,802 414,688 . Population By Age The number of households has changed by 69.27% since 2000. It is compare this to the US average of $193,953. In 2000, there were 914 Average (Mean) Household Size 2.21 2.91 3.04 2017 Estimate Total Population 37,706 571,059 1,324,120 estimated that the number of households in your area will be 18,410 owner occup ied housing units in your area and there were 8,683 . 2010 Census Under 20 21.16% 25.73% 26.77% five years from now, which represents a change of 13.33% from the renter occupied housing units in your area. The median rent at the Total Households 14,305 170,605 393,448 20 to 34 Years 33.66% 30.04% 27.25% time was $397. current year. The average household size in your area is 2.21 . 2000 Census 35 to 39 Years 8.86% 7.82% 7.64% persons. Total Households 9,597 154,890 375,398 40 to 49 Years 12.82% 13.22% 13.50% 50 to 64 Years 13.91% 14.40% 15.35% Age 65+ 9.59% 8.79% 9.48% Income Employment Median Age 32.73 31.79 32.62 . Population 25+ by Education Level In 2017, the median household income for your selected geography is In 2017, there are 95,990 employees in your selected area, this is also 2017 Estimate Population Age 25+ 25,768 366,028 853,228 $25,211, compare this to the US average which is currently $56,286. known as the daytime population. The 2000 Census revealed that The median household incom e for your area has changed by 46.89% 34.64% of employees are employed in white-collar occupations in this Elementary (0-8) 19.22% 21.90% 20.08% since 2000. It is estimated that the median household income in your geography, and 65.52% are employed in blue-collar occup ations. In Some High School (9-11) 13.99% 15.78% 14.72% area will be $30,646 five years from now, which represents a change 2017, unemployment in this area is 5.66%. In 2000, the average time High School Graduate (12) 15.87% 21.18% 21.25% of 21.56% from the current year. traveled to work was 32.00 minutes. Some College (13-15) 11.75% 12.80% 14.90% Associate Degree Only 3.68% 4.04% 4.49% The current year per capita income in your area is $24,355, compare Bachelors Degree Only 18.88% 13.65% 14.02% this to the US average, which is $30,982. The current year average Graduate Degree 10.20% 4.65% 5.12% household incom e in your area is $55,043, compare this to the US . average which is $81,217. Time Travel to Work Average Travel Time in Minutes 32 35 34

Source: © 2017 Experian

26 27 Demographics

Population Race and Ethnicity In 2017, the population in your selected geography is 37,706. The The current year racial makeup of your selected area is as follows: population has changed by 26.67% since 2000. It is estimated that the 37.11% White, 8.74% Black, 0.07% Native American and 14.64% population in your area will be 39,761.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: represents a change of 5.45% from the current year. The current 70.42% White, 12.85% Black, 0.19% Native American and 5.53% population is 53.02% male and 46.98% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted population in your area is 32.73, compare this to the US average independentlyof race. which is 37.83. The population density in your area is 12,000.57 people per square mile. People of Hispanic origin make up 61.44% of the current year population in your selected area. Compare this to the US average of 17.88%.

Households Housing There are currently 16,245 households in your selected geography. The median housing value in your area was $458,108 in 2017, The number of households has changed by 69.27% since 2000. It is compare this to the US average of $193,953. In 2000, there were 914 estimated that the number of households in your area will be 18,410 owner occup ied housing units in your area and there were 8,683 five years from now, which represents a change of 13.33% from the renter occupied housing units in your area. The median rent at the current year. The average household size in your area is 2.21 time was $397. persons.

Income Employment In 2017, the median household income for your selected geography is In 2017, there are 95,990 employees in your selected area, this is also $25,211, compare this to the US average which is currently $56,286. known as the daytime population. The 2000 Census revealed that The median household incom e for your area has changed by 46.89% 34.64% of employees are employed in white-collar occupations in this since 2000. It is estimated that the median household income in your geography, and 65.52% are employed in blue-collar occup ations. In area will be $30,646 five years from now, which represents a change 2017, unemployment in this area is 5.66%. In 2000, the average time of 21.56% from the current year. traveled to work was 32.00 minutes.

The current year per capita income in your area is $24,355, compare this to the US average, which is $30,982. The current year average household incom e in your area is $55,043, compare this to the US average which is $81,217.

28 29 Presented by: Anthony Ying Jay No Senior Retail & Multifamily Retail Investment Advisor Investment Advisor 949-558-0311 949-558-0305 [email protected] [email protected] DRE #02052695 DRE #02052345

In association with: Aram Garikian Martin D. Agnew PACIFIC PARTNERS Zac Freehling Ryan R-Serling REAL ESTATE INVESTMENTS