Westwood Boulevard Los Angeles, CA 90024

1611-1615Westwood Boulevard Los Angeles, CA 90024

FOR SALE OR LEASE WESTMAC Commercial Brokerage Company 1515 S. Sepulveda Boulevard Los Angeles, CA 90025 Phone 310.778.7700 Company DRE# 01096973 www.westmac.com

CONTACT LISTING BROKERS:

T.C. Macker, CCIM President D. 310.966.4352 [email protected] DRE# 01232033

Jennifer Moscoso Associate D. 310.966.4397 [email protected] DRE# 02044716

1615 Westwood Boulevard | OFFERING MEMORANDUM 2 EXECUTIVE SUMMARY

WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire or lease 1611-1615 Westwood Boulevard (“1615 Westwood Boulevard”), a beautifuly designed ± 5,828 square foot (per tax record) two-story, modern creative office building featuring atrium-style skylight and large glass paned windows overlooking Westwood Boulevard. It is situated on ± 3,600 square feet of land along the pedestrian-friendly streets of Westwood, a highly coveted commercial and residential neighborhood in the northern central portion of the Westside region of Los Angeles, California.

1615 Westwood Boulevard is located south of major Wilshire Boulevard and two blocks north of Santa Monica Boulevard. The building was built in 1948 and remodeled in 2006. The ground floor currently features six (6) pocket offices, two (2) larger office spaces, reception area and small meeting room. It was previously leased to a legal recruiting center and is currently vacant. The second floor is composed of a lobby, common area, meeting room and various suites that can be used by a single user or divided into a multitude of single suites. There is currently one active lease that will be vacating at the end of May 2021. There are three (3) parking spaces behind the building and plenty of metered street parking along Westwood Boulevard.

The property’s location in the heart of Westwood offers close proximity to one of the country’s most influential and successful universities, UCLA. It is also walking distance to Westwood Village, a popular shopping, dining and nightlife locale for students, tourists, and locals. It is also close to the 405 Freeway and the former Westside Pavilion, which will be the future site of Google offices in 2022.

1615 Westwood Boulevard provides the opportunity for an owner-user or investor to acquire the ideal COVID friendly office location or headquarters.

BUILDING SIZE ± 5,828 square feet (per tax record) SALE PRICE $5,495,000 ($942/SF)

LEASE TYPE NNN

LEASE RATE $22,500 per month (entire building)

3 PROPERTY SUMMARY

Modern two story creative office building renovated in 2006. Excellent retail block on Westwood Boulevard between Bristol Farm Market and Ross Department store north of Santa Monica Boulevard. Direct access to San Diego (405) freeway and Santa Monica (10) freeway. Pedestrian friendly streets with heavy foot traffic.

ADDRESS 1611-1615 Westwood Blvd., Los Angeles, CA 90024 APN 4324-026-023 BLDG SIZE ± 5,828 square feet (per tax record) LAND SIZE ± 3,600 square feet BUILT 1948; remodeled in 2006 ZONING C4-1VL-POD; TOC Tier 3 TYPE/USE Commercial - Office; Retail NO. OF STORIES Two (2) OCCUPANCY Second floor partially leased until 5/2021 Three (3) spaces behind building; plenty of metered street PARKING parking along Westwood Boulevard

1615 Westwood Boulevard | OFFERING MEMORANDUM 4 5 OFFERING SUMMARY The building is available for sale or for lease. Contact listing agents to schedule a LEASE SUMMARY tour. Due Diligence available upon request. SUITE Suites 202 & 203

RENT $2,200/Month SALE PRICE $5,495,000 ORIGINAL TERM May 16, 2017 PRICE PSF $942 per square foot EXPIRATION May 31, 2021 LEASE TYPE Triple Net OPTIONS No LEASE RATE $22,500 per month for entire building

1615 Westwood Boulevard | OFFERING MEMORANDUM Photos of the second floor 6 Photos of the second floor 7 FLOOR PLAN

FIRST FLOOR (1611-1613 WESTWOOD BOULEVARD) The first floor is made up of approximately 3,000 SF and can be used as a single space or be divided into two. The ceiling height is approximately 12 feet (buyer to verify). The first floor was previously leased to a legal recruiting center who occupied the entire space. The current build out includes a number of small private offices, two restrooms, and two larger offices in back. A rear door opens to a stairwell connecting each floor to the back parking lot.

Notes: Floor plans for information purposes only. Layout and scale may vary.

1615 Westwood Boulevard | OFFERING MEMORANDUM 8 FLOOR PLAN

SECOND FLOOR (1615 WESTWOOD BOULEVARD) The second floor is approximately 3,000 SF and comprised of a number of private offices, lobby, kitchenette, two restrooms and a meeting room. The second floor is clear span making it easy for a buyer or tenant to redesign to suit to their needs. The ceiling height is approximately 10 feet (buyer to verify). There is one lease in place for suites 202 & 203 that expires on May 31st, 2021. 1615 WESTWOOD BLVD. CREATIVE OFFICE SPACE

II I I II _I :,= II □□□ - SUITE 203 II SUITE 202 SUITE 201 - □ r-- II � II � -=-u o - l � -� □□□ =- 1fl" :i_n ' - fl /llf\�; s� r1::� (l.. I COMMON AREA: 1.045 SF

' C, � AA = SUITE 200 BBY [D □ LO ! I RENT ABLE: 000 SF - - \JU [_ 88� � I US,\BLE: 975 SF SUITE 20-1 SUITE 205 □ -1 11 I I � I � I \J f-f-- �reii� L>11] 0 I - - SUITE 206 Ui \j� �� ,-, ./\_ /\A I I 17 L__J L_J ' n 17 n n l[g Notes: Floor plans for information purposes only. Layout and scale may vary.

r, � 9 Photo of the first floor

PROPERTY HIGHLIGHTS

EXCEPTIONAL ANTI-COVID OPPORTUNITY 1615 Westwood Boulevard is a low-rise creative office building perfectly suited for an investor seeking to lease-up all or partial space, or for an innovative owner user or tenant looking for a self-isolated environment or headquarters highly desired to protect employees and customers amongst COVID-19.

MODERN SLEEK ARCHITECTURE & DESIGN The building is an aesthetic gem. Constructed in 1948, the building underwent significant remodel in 2006, which transformed it into a sleek, modern creative space suitable for the architecture who designed it. Building features include hardwood and polished concrete flooring, modern, sleek finishes, large floor to ceiling glass windows and walls, and large pyrimidine shaped atrium skylight, all which pour in natural lighting. The second floor is clear span and can be easily redesigned to include an interior stairwell, elevator, or a more open floor plan.

HIGHLY VISIBLE RETAIL CORRIDOR The building is situated along highly visible Westwood Boulevard, a pedestrian friendly retail corridor and features great frontage (50 ft) on between major arteries Wilshire Boulevard and Santa Monica Boulevard. The major intersection at Wilshire Boulevard and Westwood Boulevard, north of the subject property, is traveled by an estimated 128,478 VPD. The major intersection at Santa Monica Boulevard and Westwood Boulevard, south of the subject property, is traveled by an estimated 61,468 VPD.

1615 Westwood Boulevard | OFFERING MEMORANDUM 10 EXCEPTIONAL ANTI-COVID OPPORTUNITY

MODERN SLEEK ARCHITECTURE & DESIGN

HIGHLY VISIBLE RETAIL CORRIDOR

Photos of the second floor 11 RENDERING OF ONE WESTSIDE (FUTURE SITE OF GOOGLE OFFICES TRANSIT-ORIENTED LOCATION The Metro’s Purple Line station will be added near Wilshire and Westwood Boulevards as part of Section 3 of the Purple Line Extension Transit Project. Section 3 will add 2.56 miles of new rail to Metro’s Rail system and connect downtown Los Angeles to the Westside. Given its location on a highly utilized East/West thoroughfare, the station will create seamless links to travel destinations along and near Westwood and Wilshire Boulevards, such as UCLA, Westwood Village and The Hammer Museum. The expansion of the Metro’s Purple Line designates the subject property as a TOC Tier 3 zoned parcel. Completion of the purple line station is slated for 2026.

CLOSE PROXIMITY TO TRANSPORTATION, UCLA, FUTURE GOOGLE OFFICES & AMPLE AMENITIES 1615 Westwood Boulevard provides immediate access to several primary transportation arteries including the 405-Freeway, Santa Monica Boulevard, and Wilshire Boulevard. The property is also situated amongst pedestrian friendly streets and a large concentration RENDERING UCLA/WESTWOOD of restaurants, bars, cafés, and entertainment venues. The property PURPLE LINE STATION is less than 1-mile south of the University of California, Los Angeles (UCLA), the 5th largest City employer, with over 110,000 students enrolled in 2019. Westwood Village is popular with the barge of UCLA students living nearby and includes major retailers and eateries. Additionally, 1615 Westwood Boulevard is 1.5 miles away from the future site of Google offices. Google has signed a 14-year lease for almost 600K SF of office space, which will be known as One Westside (formerly Westside Pavilion) when it is complete in 2022.

HIGHLY-EDUCATED, AFFLUENT DEMOGRAPHICS Sixty-six percent of Westwood residents aged 25 and older had earned a four-year degree by 2000, a high figure for both the city and the county. The percentages of residents of that age with a master’s degree or higher was the third-highest in the county. Westwood is surrounded by some of Los Angele’s posh residential districts such as Holmby Hills, Brentwood, Bel Air, and Beverly Hills.

1615 Westwood Boulevard | OFFERING MEMORANDUM 12 REAR BUILDING WITH PARKING

13 N WESTWOOD BOULEVARD

1615 Westwood Boulevard | OFFERING MEMORANDUM 14 N

WESTWOOD BOULEVARD

15 FIRST FLOOR

1615 Westwood Boulevard | OFFERING MEMORANDUM 16 17 SECOND FLOOR

1615 Westwood Boulevard | OFFERING MEMORANDUM 18 19 WESTWOOD, CA

HOME TO HISTORICAL LANDMARKS, THEATERS, MUSEUMS & MORE 1615 Westwood Boulevard is located in Westwood, an affluent Los Angeles neighborhood brimming with Hollywood history, culture, and home to one of the top universities in the nation, UCLA. The Westwood neighborhood began development in 1919, when a new campus of the University of California opened in 1926. Westwood Village opened three (3) years later, in 1929.

1615 Westwood Boulevard | OFFERING MEMORANDUM 20 1615 Westwood Boulevard is located in Westwood, an affluent Los Angeles neighborhood brimming with Hollywood history, culture, and home to one of the top universities in the nation, UCLA. The Westwood neighborhood began development in 1919, when a new campus of the University of California opened in 1926. Westwood Village opened three (3) years later, in 1929. It is located in Westwood, an affluent Los Angeles neighborhood brimming with Hollywood history, culture, and home to one of the top universities in the nation, UCLA. The Westwood neighborhood began development in 1919, when a new campus of the University of California opened in 1926. Westwood Village opened three (3) years later, in 1929.

1615 Westwood Boulevard is walking distance from renowned Westwood Village. Originally developed by Janss Investment Company in the late 1920’s, Westwood Village has held it’s ground as a popular shopping district for close to a century. It’s popularity has largely stemmed from encompassing UCLA, acting as UCLA’s college town. Constantly full with UCLA students and tourists alike, Westwood Village features well known landmarks such as the Hammer Museum, and Fox Theater. It’s also home to Stan’s Donuts and Diddy Riese, local cult favorites for donuts and ice cream sandwiches respectively. WALK SCORE Other attractions include Westwood Village Memorial Park Cemetery and the Geffen Playhouse. Westwood Village is located adjacent to Holmby Hills and Bel Air, two of the wealthiest residential areas in Los Angeles. 9Walker’s 6Paradise

21 AREA AMENITIES

1. Chevron 2. Cost Plus World Market 3. Beverly Hills Porsche (Dealership & Service) 4. Sherwin Williams 5. Sunnin Bakery 6. Quin West Noodles 7. Thai Fresh 8. Sprouts 9. Westwood Barber Shop 10. Westwood Music 11. Chase Bank 12. FedEx 13. Nuka Cafe 14. Bristol Farms 3 15. Starbucks 16. T-Mobile 17. Armando Shoes and Repair 18. Flame Persian Cuisine 19. Seven Eleven 20. Pomodoro Trattoria 21. La Table de Sophie 22. Saffron & Rose Ice Cream 23. Pro Boxing Supplies 3

1 5

1615 Westwood Boulevard | OFFERING MEMORANDUM 22 N

1611-1615 23 Westwood 19 22 Boulevard 21 17 20 16 18 14 15 13 12 11

9 7 6

23 TOTAL HOUSEHOLDS TOTAL POPULATION 1 Mile 24,550 1 Mile 50,465 3 Mile 124,204 3 Mile 278,516 5 Mile 290,511 5 Mile 634,420

AVERAGE H.H. INCOME MEDIAN H.H. INCOME 1 Mile $120,665 1 Mile $89,286 3 Mile $126,746 3 Mile $94,189 5 Mile $127,152 5 Mile $94,469

TOTAL BUSINESSES CONSUMER SPENDING 1 Mile 6,390 1 Mile $706,504,919 3 Mile 29,934 3 Mile $3,721,259,566 5 Mile 60,214 5 Mile $8,691,455,166

1615 Westwood Boulevard | OFFERING MEMORANDUM 24 N

HOLLYWOOD

WEST HOLLYWOOD

CENTRAL LA WESTWOOD BEVERLY HILLS BRENTWOOD MIRACLE MILE CENTURY CITY PACIFIC 1611-1615 PALISADES Westwood Boulevard

SAWTELLE

SANTA MONICA

CRENSHAW

MAR VISTA CULVER CITY SOUTH CENTRAL LA

VENICE

LADERA HEIGHTS

MARINA DEL REY WESTCHESTER 25 ©2021 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission. DISCLAIMER

This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company or by the Seller.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them. 1611-1615Westwood Boulevard Los Angeles, CA 90024

FOR MORE SALE INFORMATION CONTACT LISTING BROKERS:

T.C. Macker, CCIM Jennifer Moscoso WESTMAC Commercial Brokerage Company President Associate 1515 S. Sepulveda Blvd., Los Angeles, CA 90025 D. 310.966.4352 D. 310.966.4397 Phone 310.778.7700 [email protected] [email protected] Company DRE# 01096973 DRE# 01232033 DRE# 02044716 www.westmac.com