DOCSLIB.ORG

The Opportunity

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Opportunity 177,418 SF OFFICE INVESTMENT OPPORTUNITY LOCATED IN WEST LOS ANGELES, CA THE OPPORTUNITY Holliday Fenoglio Fowler, L.P. (“HFF”), as exclusive advisor, is pleased to offer qualified investors an opportunity to purchase the leasehold interest in Atria West (the “Property”), an institutional quality office project centrally located in West Los Angeles, California. Atria West is a value-add opportunity consisting of two 3-story class A office buildings (“West Building” and “East Building”) and four free- standing, 2-story historic buildings (“The Grove” or “Cottages”) totaling 177,418 square feet. Situated on Santa Monica Boulevard, one of the West Side’s key artery roads, the Property encompasses 2.38 acres with nearly 900 feet of high visibility street frontage. The Property features superb landscaping, stunning three-story glass atriums providing maximum natural light, floor-to-ceiling windows and exquisite limestone interiors and facades. Two subterranean parking garages, located beneath the office buildings, offer tenants a 3.02 parking ratio per 1,000 square feet. 2 ATRIA WEST INVESTMENT HIGHLIGHTS ATRIA WEST OVERVIEW ADDRESS RARE WEST LOS ANGELES VALUE ADD OPPORTUNITY EAST OFFICE BUILDING 10585 Santa Monica Blvd WEST OFFICE BUILDING 10635 Santa Monica Blvd Currently 69.6% leased, the Property represents an incredible value-add opportunity in THE GROVE (COTTAGES) 10669-10685 Santa Monica Blvd a market with a vacancy rate of 8.2%. Additionally, with 50% of the current occupancy Los Angeles, CA 9025 expiring within the first two years investors will be afforded the opportunity to capitalize on the mark-to-market opportunity with rents in-place 30% below current market rents. RENTABLE SQUARE FEET 177,418 WEST OFFICE BUILDING 103,711 SF EAST OFFICE BUILDING 66,328 SF 46.7% $6.00 50.0% THE GROVE (COTTAGES) 7,379 SF $5.35 $5.35 $5.51 45.0% F $5.15 S $5.13 PERCENTAGE LEASED 69.6% $5.00 $4.98 $5.25 L ) 40.0% A G $4.35 $4.42 T S 35.0% O F $4.19 NUMBER OF BUILDINGS T 2 (Office) / 4 (Cottages) $4.11 $4.00 . F S 30.0% O O $3.34 $3.48 $3.50 ) AVG. FLOOR PLATES M $3.00 25.0% % / ( F 28,340 SF T S 20.0% (OFFICE) P N ( $2.00 E T 15.0% C R N SLAB-TO-SLAB HEIGHTS 13 Feet (Average) E E 9.0% 10.0% R $1.00 5.2% P 3.3% 1.6% 2.6% 5.0% YEAR BUILT 1992 (Office) / 1934 (Cottages) $0.00 0.0% STORIES 3 (Office) / 2 (Cottages) SITE AREA 2.38 Acres 536 Stalls % RSF Expiring (BOMA) Gross Rent Upon Expiration Market Rent PARKING STALLS (2 Subterranean Structures) PARKING RATIO 3.02 / 1,000 SF HIGHLY FAVORABLE 69 YEAR GROUND LEASE WITH 9 CAP BUYOUT OPTION GROUND LEASE OVERVIEW The Leasehold interest at Atria West is encumbered by three separate ground leases with 69 years remaining. Owned by the Pardee Family, the lease provides an option for an investor to EXPIRATION DATE November 30, 2085 acquire the land components through a purchase option at a 9% capitalization rate based on TERM REMAINING 69 Years the then ground rent payment in 2039. The majority of the ground rent payments are based off PURCHASE OPTION PERIOD Dec. 1, 2039 - Nov. 30, 2044 of CPI with no mark to market adjustments. PURCHASE PRICE 9% Cap Rate on Annual Rent INVESTMENT SUMMARY 3 EXCEPTIONAL CENTURY CITY OFFICE FUNDAMENTALS The submarket is currently 92% occupied with no new construction, the Century City market is poised for very strong rent growth. Atria West is exceptionally well positioned to benefit from these market dynamics. ROBUST LEASING DEMAND AND STRONG HISTORICAL OCCUPANCY As quality space in Century City continues to evaporate, the Property’s desirable contiguous availabilities will become increasingly attractive. The Century City submarket has realized over 400k square feet of positive net absorption since 2010, decreasing the vacancy rate from a cycle high of 13.9% to 8.2% YTD. STRONG HISTORICAL OCCUPANCY FROM “TAMI” TENANTS ○ The Property has benefited from strong historical occupancy from TAMI (technology, advertising, media and information) tenants as evidenced by its impressive historical tenant roster of Sony Music, BET, and Warner Chapell Music. Additionally, the Property continues to attract new economy tenants including high profile marketing and product firms. ○ The asset has maintained an average occupancy of 94.16% over the past 10 years. The recent drop in occupancy is due to three corporate tenants consolidating divisions in three separate submarkets in Los Angeles. SIGNIFICANT DISCOUNT TO REPLACEMENT COST The Property represents an opportunity for an investor to purchase a high profile asset on the West Side of Los Angeles at a significant discount to replacement cost (including factoring in a cost for the eventual purchase of the land). EXCELLENT 13 FT. SLAB TO SLAB HEIGHTS PROVIDE FOR FURTHER CREATIVE CONVERSION Although a fair amount of the current tenant build out has an open ceiling configuration, the Office 13 foot clear height throughout will provide for additional creative repositioning potential for the next investor. 4 ATRIA WEST CENTURY CITY IS RIDING A “ TEN THOUSAND (Completion: Early 2017) DOWNTOWN $3.5 BILLION DOLLAR DEVELOPMENT ○ 40-Story Luxury Residential Tower LOS ANGELES “ ○ +$300 Million Investment WAVE TOWARDS URBANIZATION ○ 283 Total Units ○ 75k SF of Amenity Space ○ +60 On-Site House Staff MIRACLE MILE HOLLYWOOD BEVERLY HILLS CENTURY PLAZA HOTEL & RESIDENCES RANCHO PARK CENTURY CITY (Completion: Early 2018) ○ Complete Renovation of Hotel GOLF COURSE ○ Addition of Two 46-Story Luxury Residential Towers ○ +$2.5 Billion Investment ○ 290 Residential Units ○ 294 Key Hotel ○ +100k SF of Retail Space DISTANCE TO WESTFIELD MALL (0.5 MILES) Walking - 10 min SANTA MONICA BLVD. Driving - 5 min Transit - 5 min WESTFIELD CENTURY CITY (RENOVATION) (Completion: 2017) ○ +1.2 Million SF ○ +$800 Million Investment ○ Additional 422k SF of New Space ○ +220 Shops and Dining Options ○ 10,000 Jobs Created ○ +$1.4B Annual Economic Output (Est.) INVESTMENT SUMMARY 5 IRREPLACEABLE LOCATION IN THE PREMIER CENTURY CITY SUBMARKET ○ Century City, Los Angeles’ largest cluster of high-rise trophy assets, continues to experience robust fundamentals as tenant demand from the FIRE (finance, insurance, and real estate), entertainment, and legal sectors are further supplemented with rising technology sector interest. Atria West is well-positioned to capitalize on this increase in tenant demand. ○ Situated on Santa Monica Boulevard, one of West Los Angeles main arterial roads, between the 405 Freeway and Century City provides unmatched access to a highly educated labor force and executive housing options (i.e. Beverly Hills, Brentwood, Santa Monica, Westwood, Chevoit Hills, Beverlywood and Castle Heights). Furthermore, the available building-top signage offers a lucrative marketing advantage for tenants seeking a high visibility location. 6 ATRIA WEST ABILITY TO ACCOMMODATE A WIDE VARIETY OF TENANT REQUIREMENTS Atria West was efficiently designed and offers the ability to accommodate a wide variety of tenant requirements due to its flexible floor plates. CONVENIENT SUBTERRANEAN PARKING Each building features an executive quality subterranean parking facility at a ratio of 3.02 per 1,000 providing very efficient access for tenants. MAJOR TENANT SUMMARY Tenant Lease Expiration Square Feet % of NRA WARNER/ CHAPPELL MUSIC Sept'17 50,340 28.4% ANASTASIA Jun'22 15,661 8.8% PABST BREWING COMPANY Jun'17 15,243 8.6% CUNNINGHAM ESCOTT Apr’23 9,160 5.2% INVESTMENT SUMMARY 7 AREA DEMOGRAPHICS DESCRIPTION 1.0 MILE 3.0 MILE 5.0 MILE 2016 EST. POPULATION 44,404 292,279 678,064 2016 EST. MEDIAN AGE (YEARS) 41 37 39 EST. POPULATION GROWTH (2016 - 2021) 4.8% 4.0% 4.0% EDUCATION (BACH’S DEGREE OR HIGHER) 69.9% 63.1% 58.5% 2016 EST. AVG HOUSEHOLD INCOME $123,975 $110,290 $109,629 % OF EXECUTIVE WORK FORCE 90.4% 82.9% 79.7% AMENITY RICH ENVIRONMENT WITH ABILITY TO ENHANCE CONNECTIVITY ○ Atria West’s central location, within close proximity to numerous retail amenities including the newly renovated Westfield Century City Mall and Beverly Hills’ Rodeo Drive, offers tenants an array of world class dining, retail and entertainment options. ○ Additionally, Café Chez Marie, the highly Zagat rated on-site restaurant, offers tenant’s fresh, healthy, French inspired cuisine. ○ The Property has the potential to enhance connectivity to the surrounding venues by offering an electric golf cart or shuttle services as a tenant amenity. UNPRECEDENTED CENTURY CITY CORRIDOR DEVELOPMENT WAVE ○ Century City is undergoing a vibrant urbanization renaissance, with over $3.5 billion in development underway. With no new office product pegged for delivery this cycle, Atria West is well positioned to capitalize on the influx of tenant demand. 8 ATRIA WEST UNIQUE HISTORICAL CREATIVE COTTAGE BUILDINGS - THE GROVE Originally built in 1935, the Property features four historically protected “cottages.” The unique free-standing 2-story buildings offer hardwood floors and high ceilings catering to creative and production uses which command premium rents. INVESTMENT SUMMARY 9 ATLANTA AUSTIN BOSTON CAROLINAS CHICAGO DALLAS DENVER HOUSTON INDIANAPOLIS LOS ANGELES MIAMI NEW JERSEY NEW YORK CITY ORANGE COUNTY (CA) ORLANDO PHILADELPHIA PHOENIX PITTSBURGH PORTLAND (OR) PRESENTED BY SAN DIEGO RYAN GALLAGHER ANDREW HARPER MICHAEL MATCHETT SAN FRANCISCO Senior Managing Director Director Analyst TAMPA [email protected] [email protected] [email protected] WASHINGTON, D.C. T. 949.798.4100 T. 310.407.2139 T. 310.407.2132 CA License # 01269918 CA License # 01319640 CA License # 01960206 ©2016 HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment FINANCING LOCAL LEASING TEAM sales, equity placement, advisory services, loan sales and commercial loan servicing.
Load more

Recommended publications
  • City of West Hollywood Appendix J
    R2, R3, R4 Multi-Family Survey Report City of West Hollywood Appendix J: 1986-87 Survey Context, prepared by Johnson Heumann Research Associates Appendices November 2008 ARCHITECTURAL RESOURCES GROUP Architects, Planners & Conservators, Inc. when a small group of citizens formed the West Hollywood Incorporation Committee. By November of that year, studies by the Local Agency Formation Commission confirmed that incorporation was indeed economically feasible. Tenants led by the Coalition for Economic Survival, homeowners concerned with planning issues and the gay community were among the leading advocates of cityhoog. Formal application was made on April 4, 1984. On November 4, 1984, by a 4:1 favorable margin, the voters approved incorporation . One of the new city's first tasks was to begin to draft a General Plan , the land use policy document for the municipality required· by State law. In January of 1985, the city began the process of preparing the Plan, noting that the physical environment, social character and quality of life within the City would be influenced by the General Plan. It was a stated goal to link land use and urban design, emphasizing the relationship between parcels and uses throughout the city. A reduction of density from those outlined in the West Hollywood Community Plan, .---- prepared before incorporated by the County of Los Angeles, was planned. As an i ntegral part of this planning process. the city of West Hollywood applied for c survey grant from the State Off ice of Historic Preservation in November of 1985 . 1.2 DEVELOPMENT HISTORY The area now known as West Hollywood has played a key role in t h e development of Los Angeles County west of Los Angeles .
    [Show full text]
  • South Carthay PP Draft.Indd
    South Carthay HPOZ Preservation Plan City of Los Angeles Adopted December 9, 2010 Preservation Plan Table of Contents Chapter 1: 5 Mission Statement Chapter 2: 7 Goals & Objectives Chapter 3: 9 Function of the Plan Chapter 4: 17 Context Statement Chapter 5: 21 Historic Resources Survey Chapter 6: 23 Architectural Styles Chapter 7 41 Residential Rehabilitation Chapter 8: 57 Residential Additions Chapter 9: 61 Residential In-fi ll Chapter 10: 71 Public Realm Chapter 11: 75 Defi nitions 3 4 Preservation Plan Chapter 1 Mission Statement acilitate the vitality of the district as a livable and sustainable Fneighborhood through the restoration, preservation and enhancement of structures, landscaping and natural features. 5 6 Preservation Plan Chapter 2 Goals & Objectives Goal 1 Preserve The Historic Character Of The Community Objective 1.1 Safeguard the character of historic buildings and sites Objective 1.2 Recognize and protect the historic streetscape and development patterns Objective 1.3 Ensure rehabilitation and new construction within the district complements the historic fabric Objective 1.4 Recognize that the preservation of the character of the district as a whole takes precedence over the treatment of individual structures or sites. Goal 2 Preserve The Historic Streetscape Objective 2.1 Encourage and maintain traditional front yards. Objective 2.2 Promote retention of historic landscape features Goal 3 Preserve The Historic Appearance Of Residential Structures Objective 3.1 Encourage retention of signifi cant architectural features Goal
    [Show full text]
  • West Los Angeles Rents Continue to Rise
    Research & Forecast Report WEST LOS ANGELES | OFFICE Accelerating success. Q2 2019 >> West Los Angeles Rents Continue to Rise Key Takeaways Market Indicators | Relative to Prior Period > The average asking monthly rent for West Los Angeles Q2 2019 Forecast sustained its second straight quarter of $0.10 increases, Vacancy moving to $4.92 per square foot (PSF) full service gross Net Absorption (FSG). Construction > Demand recorded 315,900 square feet, the ninth straight Rental Rate quarter of positive absorption. > No new projects delivered from the under-construction pipeline. A total of 18 buildings remain in the pipeline. Summary Statistics | West Los Angeles, Q2 2019 > Investment activity maintained momentum with four Class A Class B All Classes properties trading, highlighted by Onni Group’s long-awaited Vacancy Rate 13.4% 9.4% 12.4% acquisition of Wilshire Courtyard. Change from Q1 ‘19 -40 +80 -60 > Leasing activity recorded 1,348,500 square feet, marking (Basis Points) six consecutive quarters of velocity exceeding 1.1 million Net Absorption* +208.5 +92.4 +315.9 square feet. Century City, Culver City and Beverly Hills drove Construction Completions* 0.0 0.0 0.0 velocity for the quarter. Under Construction* 1,273.5 694.6 1,968.1 *SF, Thousands West Los Angeles Office Market Asking Rents | West Los Angeles, Q2 2019 Vacancy in the West L.A. market dropped by 60 basis points from the previous quarter, driven by absorption gains in Class A Class B All Classes Santa Monica and Brentwood. High leasing activity from legal, Average Asking Rent $4.93 $4.27 $4.92 Change from Q1 ‘19 entertainment and consumer product tenants in Century City, +$0.07 +$0.06 +$0.10 Culver City and Beverly Hills will help maintain demand levels ($) through the rest of 2019 and into 2020.
    [Show full text]
  • 11-Unit Apartment Community Located in Beverlywood
    2009 PREUSS ROAD 11-UNIT APARTMENT COMMUNITY LOCATED IN BEVERLYWOOD 1 CONFIDENTIALITY & DISCLAIMER All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to com- pleteness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate indepen- dent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions.
    [Show full text]
  • Sunday 10:00AM Gratitude Meeting , Westside Hope Center, 11313 W Washington Blvd, Los Angeles, CA, 90066
    Sunday 7:00PM Lil' Meeting in the Hood, Reed Park, Meets in- 8:30PM Five and Dime, Joslyn Park Auditorium, Meets in- 10:00AM Gratitude Meeting, Westside Hope Center, person and on Zoom ID: 8450904561 (no person, 633 Kensington Road, Santa Monica, CA, Meets in-person and on Zoom Id: 7948175359, passcode), 1133 7th Street, Santa Monica, CA, 90405 (O,SP,WC) 11313 West Washington Boulevard, Los Angeles, 90401 (O,D,SP,WC,NS,HY) Saturday CA, 90066 (O,D,WC,NS,HY) 7:30PM Malibu's Most Wanted, Our Lady Malibu, Meets 9:00AM Keep Coming Back (Steps 1 2 3), Meets 12:30PM Just for Today, Meets virtually on Zoom Id: in-person, 3625 Winter Canyon Road, Malibu, virtually on Zoom Id: 3562098677 Passcode: 274198755 (O,VM) 90265 (O,CL,D,SP,WC) saturday, Culver City, CA, 90230 1:00PM Serenity Above the Sea, Serra Retreat, Meets Wednesday (O,D,SP,St,WC,NS,VM) Password: saturday in-person, 3401 Serra Road, Malibu, California, 12:30PM Back From the Dead, Meets virtually on Zoom 9:00AM Serenity in the Sand, Santa Monica Beach, 90265 (O,D) Id: 274198755, Los Angeles, CA, 90066 South of Ocean Park Blvd., look for the WHITE 7:00PM Burning Desire, Westside Hope Center, Meets in- (O,D,WC,VM) FLAG, Between Lifeguard Towers 26 & 27, Santa person and on Zoom ID: 95228147621, 11313 6:00PM In Times of Illness, Meets virtually on Zoom Id: Monica, CA, 90405 (JT,ME,OUT) West Washington Boulevard, Los Angeles, CA, 89075266477, Culver City, CA, 90230 (O,IL,VM) 12:30PM Just for Today, Meets on Zoom ID: 274198755, 90066 (O,CL,D,SP,NS,HY) 8:00PM Grow or Go, Meets virtually on
    [Show full text]
  • S Los Angeles As Your Personal Movie
    California’s Los Angeles as Your Personal Movie By Lee Foster Planning my trip to Los Angeles put me in the director’s chair, requiring decisions mu ch like those that face any filmmaker. I wanted action, adventure, and most important, a happy ending that would leave me looking forward to making a sequel during a future visit. I discovered a vast “talent pool” of tempting attractions and mu seums here, ranging from blockbuster theme parks to one-of-a-kind art exhibits, all eager to play a role in my travel production. With only a few days “on location”, I had to make careful casting choices and script a schedule that would meet my time constraints and keep me entertained. A handful of “superstar” attractions performed well, but I was just as pleased with my selection of a “supporting cast” of lesser known, but no less talented, co-stars. I even added a few “cameo appearances” from interesting eateries that featured comic book superheroes and a sushi bar where the chefs dance to disco mu sic. My plot begins with the “superstars”: *The J. Paul Getty Museum/ Getty Center . The Getty Museum has had a profound effect on Los Angeles tourism, elevating the destination to a new level of art pilgrimage and strengthening also the many other art tourism aspects of Los Angeles that are worthy of attention. The billion-dollar Getty Center can be celebrated for several reasons. Its special art objects, such as medieval illuminated manuscripts, are generally the best in their genre. The architectural design by Richard Meier is stunning, presenting a sweeping view of the West Los Angeles valleys from a hilltop perch in Brentwood .
    [Show full text]
  • West Los Angeles
    WEST LOS ANGELES Community Plan TABLE OF CONTENTS ACTIVITY LOG COMMUNITY MAPS COMMUNITY PLAN I. Introduction II. Function of the Community Plan III. Land Use Policies and Programs IV. Coordination Opportunities for Public Agencies V. Urban Design Appendix A www.lacity.org/PLN (General Plans) A Part of the General Plan - City of Los Angeles WEST LOS ANGELES ACTIVITY LOG ADOPTION DATE PLAN CPC FILE NO. COUNCIL FILE NO. July 27, 1999 West Los Angeles Community Plan Update 97-0048 CPU 98-2024 Jan. 17, 1997 West Los Angeles Transportation Improvement 96-0220 SP 96-0156 Mitigation Program Specific Plan Nov. 4, 1992 Sepulveda Corridor Specific Plan 91-0488 SP 91-2205; 92-0885 Nov. 17, 1981 Century City North Specific Plan 28436 ZC/HD 80-1250 S1 Nov. 17, 1981 Century City South Specific Plan 24960 74-4757 ADOPTION DATE AMENDMENT CPC FILE NO. COUNCIL FILE Dec. 10, 1997 Westwood/Pico Neighborhood Overlay District 92-0039 SUD 92-1785 92-0041 HD 92-0042 ZC Sept. 7, 2016 Mobility Plan 2035 Update CPC-2013-910-GPA-SPCA-MSC 15-0719 WEST LOS ANGELES Community Plan Chapter I INTRODUCTION COMMUNITY BACKGROUND PLAN AREA The West Los Angeles Community Plan area is located in the western portion of the City of Los Angeles. It is generally bounded by Centinela Avenue on the west, Wilshire Boulevard and Santa Monica Boulevard on the north, National Boulevard, Pico Boulevard, and Exposition Boulevard on the south, and Durango Avenue, Robertson Boulevard, and Canfield Avenue on the east. It is surrounded by the communities of Westwood, Brentwood-Pacific Palisades, Palms - Mar Vista - Del Rey, West Adams-Baldwin Hills-Leimert, and Wilshire; and by the Cities of Culver City, Santa Monica, and Beverly Hills, and the County of Los Angeles.
    [Show full text]
  • Los Angeles County Announces 38 New Deaths Related to 2019 Novel Coronavirus (COVID-19) - 1,414 New Cases of Confirmed COVID-19 in Los Angeles County
    313 N. Figueroa Street, Room 806 • Los Angeles, CA 90012 • (213) 240-8144 • [email protected] Facebook.com/LAPublicHealth • Twitter.com/LAPublicHealth For Immediate Release: June 19, 2020 Los Angeles County Announces 38 New Deaths Related to 2019 Novel Coronavirus (COVID-19) - 1,414 New Cases of Confirmed COVID-19 in Los Angeles County LOS ANGELES – The Los Angeles County Department of Public Health (Public Health) has confirmed 38 new deaths and 1,414 new cases of 2019 Novel Coronavirus (COVID-19). Thirty-one people who died were over the age of 65 years old and seven people who died were between the ages of 41 and 65 years old. Thirty-two people had underlying health conditions including 26 people over the age of 65 years old and six people between the ages of 41 to 65 years old. To date, Public Health has identified 79,609 positive cases of COVID-19 across all areas of LA County, and a total of 3,063 deaths. Ninety-three percent of people who died had underlying health conditions. Of those who died, information about race and ethnicity is available for 2,844 people (99 percent of the cases reported by Public Health); 42% of deaths occurred among Latino/Latinx residents, 29% among White residents, 17% among Asian residents, 11% among African American residents, less than 1% among Native Hawaiian/Pacific Islander residents and 1% among residents identifying with other races. Upon further investigation, 32 cases and two deaths reported earlier were not LA County residents. There are 1,446 people who are currently hospitalized, 29% of these people are in the ICU and 21% are on ventilators.
    [Show full text]
  • W. Pico Boulevard
    BRANDON MICHAELS GROUP W. PICO BOULEVARD 8600 West Pico Boulevard . Los Angeles, CA 90035 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 BRANDON MICHAELS GROUP SOUTHERN CALIFORNIA'S PREMIER SALES TEAM W. PICO BLVD 16830 Ventura Blvd. Suite 100, Encino, CA 91436 www.marcusmillichap.com 2 PROPERTY OVERVIEW FINANCIALS COMPARABLES S. HOLT AVE AREA OVERVIEW 3 ADJACENT TO CENTURY CITY Century City is a 176-acre (71.2 ha) neighborhood and business district in Los Angeles’ Westside. Outside of Downtown Los Angeles, Century City is one of the metropolitan area’s most prominent employment centers, and its skyscrapers form a distinctive skyline on the Westside. Important to the economy are the Westfield Century City shopping center, business towers, and Fox Studios. WHY BUY ON AFFLUENT NEIGHBORHOOD WEST PICO Demographics: Median Age:36 Average Household Income within a 1-mile radius: $106,883 BLVD Population within a 5-mile radius: 974,970 SIGNIFICANT OPPORTUNITY Extremely rare opportunity to purchase in a transitioning rental market. Significant amount of movement and turnover in the immediate marketplace, creating an opportunity for new concepts to enter the market and position the submarket for the future. 4 BLVD PICO WEST PICO BOULEVARD Pico Boulevard is a major Los Angeles street that runs from the Pacific Ocean at WHY BUY ON Appian Way in Santa Monica to Central Avenue in Downtown Los Angeles, California, USA. Pico runs parallel south of Olympic Boulevard and is one of the southernmost major streets leading into Downtown Los Angeles, running WEST PICO north of Venice Boulevard and south of Olympic Boulevard.
    [Show full text]
  • Strong-Motion Data from the Malibu, California, Earthquake of January 19
    Geological Survey Open-File Report 89-186 STRONG-MOTION DATA FROM THE MALIBU, CALIFORNIA, EARTHQUAKE OF JANUARY 19, 1989 By D. A. Johnson and A. V. Acosta U. S. Geological Survey 15000 Aviation Blvd, MS 6113 Los Angeles, California 90261 May 1989 Geological Survey Open-File Report 89-186 STRONG-MOTION DATA FROM THE MALIBU, CALIFORNIA, EARTHQUAKE OF JANUARY 19, 1989 By D. A. Johnson and A. V. Acosta U. S. Geological Survey 15000 Aviation Blvd, MS 6113 Los Angeles, California 90261 May 1989 CONTENTS Page Introduction 1 Acknowledgement 2 ILLUSTRATIONS Figure 1. Strong-motion instrument station map 3 Figure 2. Accelerograms recorded at: Malibu Canyon, Monte Nido Fire Station 6 Topanga Fire Station 7 Los Angeles, Brentwood VA Hospital 8 Los Angeles, Wadsworth VA Hospital 9-11 Lawndale, 15000 Aviation Blvd 12 Sepulveda Canyon 13 Malibu, Kilpatrick School 14 Sepulveda Dam 15, 16 Sepulveda VA Hospital 17 Jensen Filter Plant 18-20 x TABLES Table 1. Strong-motion data 4 Table 2. Epicentral and hypocentral distances 21 11 STRONG-MOTION DATA FROM THE MALIBU, CALIFORNIA, EARTHQUAKE OF JANUARY 19, 1989 INTRODUCTION A magnitude (ML) 5.0 earthquake occurred under Santa Monica Bay near Malibu, California, at 0653 G.m.t. January 19, 1989. "Sev­ eral dozen" aftershocks were recorded within twelve hours by the California Institute of Technology (CIT); the largest was a M-3.7 event at 2202 G.m.t. The main shock epicenter was 17 kilometers west of Los Angeles International Airport and about 12 kilometers southeast of Malibu (fig. 1). Several thousand dollars in damages were reported, including damage to stores in Malibu and Santa Monica (Los Angeles Times, Jan.
    [Show full text]
  • Los Angeles City Guide: How to Prepare for a Successful Summer in Los Angeles, CA the Resources in This Guide Are for Informational Purposes Only
    Career Advancement Los Angeles City Guide: How to Prepare for a Successful Summer in Los Angeles, CA The resources in this guide are for informational purposes only. Career Advancement does not endorse or guarantee any of the services described in this document. Students should exercise their own discretion when planning for their summer internship. If you would like more information or have questions about this document, feel free to speak with a Career Advancement adviser. You can make an appointment on UChicago Handshake. 4. Politely ask your employer about housing resources. Your L.A. Housing Overview employer may have suggestions for where to live, or give Whether you are craving some relaxation at the beach, you the contact information of other interns who are spending time outdoors, or checking out the culture and searching for housing so that you can room together or get cuisine, L.A. has it all! advice from each other. L.A. has been a popular location for summer internships and Online Housing Resources provides a great opportunity to explore what it is like to live in There are a variety of online housing resources that provide a different city. The type of housing you’re looking for, your short-term housing vacancies, including: budget, and your connections in L.A. are all factors that should help determine where you begin your housing search. http://losangeles.craigslist.org/ The earlier you begin looking, the more options you will have https://www.airbnb.com/s/Los-Angeles--CA and the easier it will be to choose exactly where you want to http://losangeles.apartments.com/ live for the summer.
    [Show full text]
  • Beverlywood Homes Association V. City of Los Angeles
    Filed 11/30/18 Beverlywood Homes Assn. v. City of Los Angeles CA2/8 NOT TO BE PUBLISHED IN THE OFFICIAL REPORTS California Rules of Court, rule 8.1115(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 8.1115(b). This opinion has not been certified for publication or ordered published for purposes of rule 8.1115. IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA SECOND APPELLATE DISTRICT DIVISION EIGHT BEVERLYWOOD HOMES B280620 ASSOCIATION et al., (Los Angeles County Plaintiffs and Appellants, Super. Ct. No. BS154253) v. CITY OF LOS ANGELES, Defendant and Respondent. CENTURY CITY REALTY, LLC, Real Party in Interest and Respondent. APPEAL from a judgment of the Superior Court of Los Angeles County. John A. Torribio, Judge. Affirmed. Jeffer Mangels Butler & Mitchell, Benjamin M. Reznik, Matthew D. Hinks and Neill Brower for Plaintiffs and Appellants. Michael N. Feuer, City Attorney, Terry Kaufmann Macias, Senior Managing Assistant City Attorney, Jennifer Tobkin, Deputy City Attorney; Jenkins & Hogin and Best Best & Krieger, Christi Hogin and Trevor L. Rusin for Defendant and Respondent. Latham & Watkins, James L. Arnone and Benjamin J. Hanelin for Real Party in Interest and Respondent. _____________________ SUMMARY This is an appeal from a judgment denying a petition for writ of mandate. The petition alleged the City of Los Angeles (city) violated the specific plan governing development in North Century City, violated the Los Angeles Municipal Code (LAMC or municipal code), and failed to comply with the California Environmental Quality Act (CEQA),1 when it approved a development project that included the construction of a 37-story office tower at 1950 Avenue of the Stars (the project).
    [Show full text]