Excellent Downtown Los Angeles, Ca Location 7220 Sf
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SOUTHERN CALIFORNIA'S PREMIER SALES TEAM 7,220 SF MIXED- 3,696 SF OF LAND EXCELLENT USE RETAIL/OFFICE LOCATED IN AN DOWNTOWN LOS Situated in a QUALIFIED OPPORTUNITY ZONE BUILDING OPPORTUNITY ZONE ANGELES, CA LOCATION INVESTMENT ADVISORS BRANDON MICHAELS Senior Managing Director of Investments Senior Director, National Retail Group Tel: (818) 212-2794 Fax: (818) 212-2710 [email protected] License: CA #01434685 www.BrandonMichaelsGroup.com BEN BROWNSTEIN Senior Associate National Retail Group Tel: (818) 212-2812 Fax: (818) 212-2710 [email protected] License: CA #02012808 www.BrandonMichaelsGroup.com CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party re- ceiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified infor- mation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for aw thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminat- ing substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the finan- cial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we be- lieve to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Mar- cus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The pres- ence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the pur- pose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DE- TAILS. SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.) 2 TABLE OF CONTENTS 1 2 3 4 PROPERTY OVERVIEW FINANCIAL ANALYSIS COMPARABLES ANALYSIS AREA OVERVIEW 3 PROPERTY PROPERTY OVERVIEW DTLA 2040 COMMUNITY PLAN DTLA 2040 is the updated community plan for Downtown Los Angeles. It’s goal is to create and implement a future vision for Downtown Los Angeles and will support and sustain the ongoing revitalization while thoughtfully accommodating projected future growth. DTLA 2040 will help shape the future of Downtown Los Angeles, by reinforcing its jobs orientation; supporting a transit and pedestrian environment; growing and supporting its residential community; strengthening the unique character of each neighborhood; and creating linkages between Downtown's many distinct districts. NEIGHBORHOOD DEMOGRAPHICS Median age: 36.7 • Average household income within a 1 mile radius: $68,891 • Population within a 5 mile radius: 1,266,699 • SIGNIFICANT OPPORTUNITY Current rent in the area has created an affluent community surrounding Downtown Los Angeles, making this an ideal time to purchase property in the center of Downtown. Upon the completion of the surrounding developments and continuing improvements to the immediate area, the rental market will experience significant growth and offer outstanding long-term returns for investors. LOS ANGELES LOS 6 GETTING AROUND The Los Angeles Metro is affordable, relatively easy to use, and services most of Los Angeles County and its top attractions. The public transit system consists of Metro Buses, DASH Buses, and Metro Rail Trains. Short trips of 3 miles or less can often be quicker by bike than by car, especially in traffic. Downtown’s bike system has racked up more than 182,500 trips, representing about 453,000 miles traversed. WHY BUY SHOPPING & DINING In DTLA you'll find shopping surprises around every corner. Discover great deals and selection whether you're hunting for fashion, florists, or IN furniture. DTLA was listed by The New York Times as number 5 of "52 Places to Go in 2014." Chefs from all over the world come here to make their mark. From Grand Central Market, recipient of Bon Appetit’s Best Restaurants of the Year, to DTLA the Michelin-starred Patina and Watergrill, to homestyle tacos and artisan sausage and beer, Downtown LA will inspire every palate. WEATHER While other parts of the world may experience brutal winters and hot humid summers, Los Angeles is fortunate to WALKABILITY enjoy bright blue skies, stunning sunsets, and cool breezes year round. This near-perfect weather allows an active and 310 E 9th Street has a score of 94/100 for relaxing lifestyle throughout the entire year. Walkability, 100/100 for Ride-ability, and 74/100 for Bike-ability. Discover great selections of dining, shopping, and accommodations. 7 A Mixed Use Owner-User Opportunity in the Center of the Fashion District of Downtown Los Angeles with Additional Income Streams The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 212 E. Pico Blvd, a 2-story 7,220 square foot, Mixed-Use (Office/Retail) building. The property is located in the center of the Fashion District in Downtown Los Angeles, just east of Los Angeles Street, and west of the famous Santee Street. The subject property is located two blocks from the Santee Alley, four blocks from the City Market Development, and less than one mile away from STAPLES Center & LA Live. Since 2015, the Fashion District has experienced unprecedented growth and development due to the neighborhood’s adaptation of new wholesale centers, as well as residential & mixed-use developments. The Fashion District averages $10 Billion in sales and employs over 30,000 people. Beginning in the early 2000s, Downtown LA has been undergoing a rapid revitalization when an adaptive reuse ordinance was passed and made it easier for developers to convert and build new spaces. In 2007, further growth-spurring changes were made to the area’s zoning rules. Today, downtown represents one of LA’s fastest-growing neighborhoods. The DTLA 2040 Plan has an expected growth of 125,000 Residents & 55,000 new Jobs. The subject property is zoned M2-2D and is located within a Tier 3 Transit Oriented Community (TOC), offering tremendous development opportunity in the future. There are a number of new developments in the immediate area, including City Market, Flower Market, 7th & Maple, Maxfield Lofts, 1100 Main, Gerry Building, Norton Building, and 732 S Spring. 212 E. Pico is also in a Qualified Opportunity Zone, which offers tremendous long-term tax benefits. Retail in Downtown LA is undergoing a renaissance of its own, with a growing mix of national brands, upscale boutiques, and distinct local offerings, all finding their own place in a community where fashion and food, art and culture, community and commerce have converged in a celebration of urban living. The LADOT DASH Downtown Route E is a local bus route that has bus stop just outside of the property. 3,696 SF 7,220 SF M2-2D YES TIER 3 LAND SF BUILDING SF ZONING OPPORTUNITY ZONE TRANSIT ORIENTED COMMUNITY 8 Situated in a QUALIFIED OPPORTUNITY ZONE 9 INVESTMENT HIGHLIGHTS Ideal Owner-User/Investor Opportunity • 7,220 square feet of retail/office