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Santa Monica Yale-Wilshire Medical Building

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Santa Monica Yale-Wilshire Medical Building YALE-WILSHIRE MEDICAL BUILDING ONCE IN A GENERATION PROPERTY SALE 2901 WILSHIRE BOULEVARD VALUE ADD OPPORTUNITY SANTA MONICA PRIME WILSHIRE BLVD. SANTA MONICA, CA BIDS DUE: WEDNESDAY, FEBRUARY 28, 2018, BY 3:00 PM CONFIDENTIALCONFIDENTIAL - DDOO NOTNOT DISTURBDISTURB TTENANTSENANTS FOR MORE INFORMATION PLEASE CONTACT: CALIFORNIA REALTY GROUP 3017 Santa Monica Boulevard MARK ESSES KEITH KLEINMAN Suite 300 PRESIDENT VICE PRESIDENT Santa Monica, CA 90404 Lic. #01206732 Lic. #01106533 310-449-1989 310-449-1989 www.californiarealtygroup.com [email protected] [email protected] This information has been secured from sources we believe to be reliable, but make no representations, or warranties, express or implied, as to the accuracy of the information. All Measurements are approximate. All information contained herein should be independently verified by prospective Buyer. YALE-WILSHIREMEDICAL BUILDING 2901 WILSHIRE BOULEVARD SANTA MONICA Investment Highlights: 03 Property Details: 04 Photos of Property: 05 Parcel Map : 06 Santa Monica Zoning Map: 07 Subject Property: 08 Subject Map: 09 Retail Aerial Map: 10 Santa Monica: 11 Tourism: 12 Metro: 13 FOR MORE INFORMATION PLEASE CONTACT: CALIFORNIA REALTY GROUP 3017 Santa Monica Boulevard MARK ESSES KEITH KLEINMAN Suite 300 PRESIDENT VICE PRESIDENT Santa Monica, CA 90404 Lic. #01206732 Lic. #01106533 310-449-1989 310-449-1989 www.californiarealtygroup.com [email protected] [email protected] This information has been secured from sources we believe to be reliable, but make no representations, or warranties, express or implied, as to the accuracy of the information. All Measurements are approximate. All information contained herein should be independently verified by prospective Buyer. INVESTMENT HIGHLIGHTS YALE-WILSHIRE MEDICAL BUILDING A four story 45,881 square feet of medical office building Premier employment Base-Santa Monica offers with two levels of subterranean parking and 31 on grade significant employment opportunities in the medical, parking spaces, in a prime Santa Monica location. Silicon Beach/high tech, hotel and restaurant industries. Santa Monica is a breeding ground for innovation in all The property is located at the NEC Wilshire Boulevard industries. and Yale Street. High Traffic count with over 60,000 cars per day. Value add opportunity to acquire a highly desirable medical building on a signalized corner property on Densely populated area with over 40,000 people within Wilshire Boulevard consisting of 22,109 square feet of 1 mile and 500,000 people within 5 miles. land. Located in affluent Santa Monica with an average Current cash flow while repositioning the asset. household income of over $119,000 within a five-mile radius, and surrounded by luxury home markets Fabulous opportunity for an owner user. including Malibu, Beverly Hills, Brentwood, Pacific Palisades, and West L.A. Very High Barriers to Enter Market. Restrictions on new development due to growth control initiatives and Conveniently located within minutes of Providence St. availability of land on signalized corners have virtually no John’s Hospital, UCLA Medical Center, Santa Monica new supply of competing medical buildings. College, Montana Avenue High Street shopping district, famed Santa Monica Pier, 3rd Street Promenade and Premier location in Southern California’s strongest the newly remodeled Santa Monica Place. commercial, medical and residential real estate market. Walking distance to a myriad of amenities including Bristol Farms, Whole Foods Market, Erewhon Market, directly across the street (coming soon), California Chicken Café, Milo Olive, Habit Burger & Luna Grill (coming soon) and many others. Several Banks including Chase, Banc of California, Wells Fargo, OneWest, US Bank and Citi Bank are also within walking distance. Located less than one mile from Bergamot Station Metro Expo Line at Stewart & Olympic. 2901 WILSHIRE BOULEVARD YALE-WILSHIRE MEDICAL BUILDING SANTA MONICA PROPERTY DETAILS PROPERTY DESCRIPTION Address: 2901 Wilshire Boulevard Yale-Wilshire Medical Building Santa Monica, CA 90403 is a boutique four story medical office building. The building consists of 45,881 Total Land: +-22,109 square feet square feet that includes approximately 6,700 square feet of retail space on the ground floor Total Building: +-45,881 square feet and 35 medical office spaces on the second, third and fourth floors. The property is APN: 4266-009-039 situated in the prime area of Santa Monica in Los Angeles County, CA 90403. The Yale- Year Built: 1965 Wilshire Medical Building is one of only a few of its kind remaining in Santa Monica. Building Type: Medical/Retail Parking: Subterranean & 31 On Grade Elevators: 2 Stories: 4 Estimated 2017 Income: Gross Income: $1,585,444 Net Income: $1,000,776 2901 Wilshire is offered to the market on an UPRICED BASIS Bids are due Wednesday, February 28, 2018, by 3:00PM For additional information please call: 310 - 449 - 1989 PROPERTY PHOTOS YALE-WILSHIRE MEDICAL BUILDING PARCEL MAP YALE-WILSHIRE MEDICAL BUILDING SANTA MONICA ZONING MAP YALE-WILSHIRE MEDICAL BUILDING SUBJECT PROPERTY YALE-WILSHIRE MEDICAL BUILDING SUBJECT MAP YALE-WILSHIRE MEDICAL BUILDING AERIAL YALE-WILSHIRE MEDICAL BUILDING SANTA MONICA YALE-WILSHIRE MEDICAL BUILDING Santa Monica is Southern California’s premier costal location for business, high tech, entertainment, medical, shopping and opulent housing. Situated on Santa Monica Bay, it is bordered on three sides by Pacific Palisades, Brentwood and Venice. The Census Bureau population for Santa Monica in 2010 was 89,736. Due in part to a world class temperate climate, Santa Monica became a famed resort town by the early 20th century. The city has recently experienced significant growth as a high tech, entertainment, dining and medical center serving the greater Los Angeles area. Santa Monica experienced a boom in the late 1980s through the revitalization of its downtown core, including the transformation of out dated buildings into trendy high tech “Silicon Beach”, medical, retail and entertainment venues . This included a $50 million restoration of the iconic City Hall Building, a $60 million redesign of the 7 AC Palisades Park, $265 Million renovation of the Santa Monica Place Mall and a several hundred-million- dollar renovation of the Providence St. Johns Medical Center. The Santa Monica Pier remains a very popular destination. TOURISM YALE-WILSHIRE MEDICAL BUILDING 2016 TOURISM BY THE NUMBERS • 8.4 million visitors came to Santa Monica. • 3.9 million visitors came to Santa Monica from outside of the United States. • 1.87 billion dollars generated by tourism to the local economy. • 13,300 jobs supported by tourism in Santa Monica. • 81% of hotel visitors did not use a car once they arrived in Santa Monica. Summary: The SMCVB has tracked tourism since 1983. The 2016 results are shown below and compared to 2015. For 2016, Santa Monica’s vital travel industry was strong and continued record growth for total visitor volume, up .9% to 8.3 million (from 8.3 million in 2015). Of these 7.32 (7.27) million were Day visitors, 744,400 (735,400) were Hotel guests and 326,300 (348,000) stayed in Other lodging. Total direct visitor spending reached $1.87 billion, up 1% from $1.84 in 2015, generating $62.6 ($58.6) million of lodging and sales taxes to the City, a robust 7% rise. Tourism supported 13,300 (13,500) local tourism related jobs. Thus, Santa Monica’s tourism industry remained solid, producing record volume, spending, taxes with softening of International visitation and spending. Located just west of Downtown Los Angeles, Santa Monica beach is an iconic example of the famed Southern California beaches. METRO YALE-WILSHIRE MEDICAL BUILDING The Expo Line Phase 2 runs along the old Pacific Electric Exposition right-of-way to 4th St. and Colorado Av. in downtown Santa Monica. Phase 2 connects Santa Monica by rail to Downtown LA, Pasadena, San Fernando Valley, South Bay, Long Beach and dozens of points in between. With seven new stations serving diverse LA neighborhoods such as Century City, West Los Angeles, and Santa Monica, the Metro Rail system will now expand to 87 stations and over 93 miles of rail to destinations across L.A. County. Santa Monica is even easier to access now that the Metro’s Expo Line to Santa Monica is now open! With seven new stations and 6.6 miles of rail — there is so much more to explore. The $1.5 billion light rail to the Pacific Ocean extends from the existing Expo Line Culver City station to Downtown Santa Monica linking Westside neighborhoods and expanding the Metro Rail system to over 100 miles of rail. Connecting Downtown LA to Downtown Santa Monica in just 46 minutes, the Expo Line is a sustainable, cost effective alternative to grid-lock on the I-10 freeway. Downtown Santa Monica Metro Station Phase 2 of the Metro Expo Line project is a 6.6-mile extension of the 80-station Metro Rail System from the existing station at Culver City west to Santa Monica. L.A. County..
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