A MIXED-USE DEVELOPMENT OPPORTUNITY AT THE EPICENTER OF NELA GLASSELL COMMONS

SCOTT ROMICK Managing Director 818.933.0305 [email protected] BRE Lic # 01323527

CORY STEHR Principal 818.933.0304 [email protected] BRE Lic # 01851029

CORP ID #01191898 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/, CA 90065 TABLE OF CONTENTS GLASSELL COMMONS EXECUTIVE SUMMARY...... 5

PROPERTY DESCRIPTION...... 7

INSPIRATION...... 15

LOCATION OVERVIEW...... 23

MARKET OVERVIEW ...... 35

2 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 DISCLAIMER

INFORMATIONAL BROCHURE legal status of the Property, (vi) the Property’s or its operations’ compliance The material contained herein is confidential and is presented strictly as with applicable codes, laws, regulations, statutes, ordinances, covenants, information for the exclusive use of the prospective purchaser. Acceptance conditions and restrictions of any governmental, quasi-governmental entity of this brochure by the prospective purchaser constitutes an agreement not or any other person or entity, (vi) the quality of any labor and materials, (viii) to divulge, share or distribute the information to any other party, except legal the compliance of Property with any environmental protection, pollution or counsel and financial advisors, without the specific written authorization of land use laws, rules regulations, orders or requirements including but not the Seller or Lee & Associates. limited to those pertaining to the handling, generating, storing or disposing of any hazardous materials, and (ix) except as expressly provided otherwise The materials herein have been obtained from sources believed to be in an executed contract of sale, the condition of title and the nature, status reliable. Nevertheless, the Seller nor Lee & Associates make no warranties and extent of any right-of-way, lease, right of redemption, possession, lien, or representations, expressed or implied, concerning the accuracy or encumbrance, license, reservation, covenant, condition restriction and completeness of this information. This document is submitted subject any other matter affecting the title. Although Seller’s predecessors may to errors, omissions, changes in price; rental, market or otherwise and have performed work, or contracted for work performed by third parties withdrawal without notice. in connection with the Property, the Seller, and its agents shall not be No broker or agent, other than Lee & Associates Seller’s exclusive responsible to Buyer or any successor on account of any errors or omissions representative, is authorized to present this investment opportunity. or construction defects of such predecessors and/or third parties. Interested buyers should be aware that the owner (the “Seller”) of the property The Seller reserves the right to withdraw the property being marketed at any known as 3716-3719 Eagle Rock Boulevard and 3729 Verdugo Road, time without notice, to reject all offers, and to accept any offer without regard Glassell Park/Los Angeles, CA 90065 (“Property”) is selling the property to the relative price and terms of any other offer. Any offer to buy must be: (i) in “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR presented in the form of a non-binding letter of intent, (ii) incorporated in a WARRANTIES OF ANY KIND OR NATURE, EXCEPT WARRANTY OF TITLE. Prior formal written contract of purchase and sale to be prepared by or on behalf to and/or after contracting to purchase as appropriate, Buyer will be given of the Seller and executed by both parties; and (iii) approved by Seller, and a reasonable opportunity to inspect and investigate the Property and all such other parties who may have an interest in the Property. Neither the improvements thereon, either independently or through agents of Buyer’s prospective Buyer nor Seller shall be bound until execution of the contract choosing. of purchase and sale, which contract shall supersede prior discussions and Buyer shall not be entitled to, and should not, rely on the Seller, or its constitute the sole agreement of the parties. agents as the (i) the quality, nature, adequacy and physical condition of the The Seller shall not be responsible for the payment of any commission, Property including, but not limited to the structural element, foundation, roof, finder’s fee or other form of compensation to Buyer’s broker unless agreed appurtenances, access, landscaping, parking facilities and the electrical, to in a separate commission agreement between all parties. HVAC, plumbing, sewage, and utility systems, facilities and appliances. (ii) SELLER AND ITS AGENTS MAKE NO REPRESENTATIONS OR WARRANTIES the quality, nature adequacy and physical condition of soils and geology and AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. the existence of ground water, (iii) the existence, quality, nature adequacy GLASSELL COMMONS and physical condition of utilities serving the Property, (iv) the development potential of the Property, its habitability, merchantability, or fitness, suitability or adequacy of the Property for any particular purpose, (v) the zoning or the 3 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. EXECUTIVE SUMMARY

GLASSELL COMMONS EXECUTIVE SUMMARY

Executive Summary Offering Highlights Lee & Associates is pleased to exclusively market the rare opportunity • Potential for creative retail/office/co-working space with community-styled eateries to acquire a value-add, mixed-use project within one of the most dynamic and rapidly gentrifying submarkets in Los Angeles. Located • Surface parking lots which can accommodate valet parking at the signalized intersection of Verdugo Road & Eagle Rock Boulevard, • Unique triangular site plan that optimizes visibility the subject property is highly identifiable with frontage on both streets • A true value-add opportunity in a ‘blank canvas’ setting and immediate visibility from the Verdugo exit at the 2 Freeway. • Surrounded by a growing residential community underserved with The properties will be delivered mostly vacant allowing an investor retail and restaurant amenities. the flexibility to make design changes consistent with the changing demographics of the area and the capability to offer built-to-suit • Direct view from the on/off ramp for the Glendale (2) Freeway spaces for targeted tenant profiles. Property Description With a burgeoning base of foodies and creative types, NELA, is the The offering contains three (3) commercial structures totaling ±17,835 epicenter of many innovative culinary establishments, trendy apparel square feet sitting atop +/- 21,118 square feet of land. The buildings and home retailers, indie musicians and artists. offer a unique blend of design elements such as: bow & truss industrial, Media Center Drive, just a few minutes away, houses a number of large charming brick store front façade, Art Deco rear, and cinderblock post-production and related media companies, generating a need for automotive property. Current ownership has been careful in preserving co-working and small office space for the independent contractors who the original characteristics and charm which can be further enhanced work with these types of companies. during the repositioning process. GLASSELL COMMONS

5 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. PROPERTY DESCRIPTION

GLASSELL COMMONS PROPERTY DESCRIPTION

Welcome to the Glassell Commons and aWelcome to the Glassell Commons and anew exciting opportunity to be part of the new exciting opportunity to be part of the Welcome to the Glassell Commons and a new exciting opportunity to be part of the Welcomeemerging market of NELA (Northeast Los Angeles) & Glassell Parkemerging market of NELA (Northeast Los Angeles) & Glassell Park to the Glassell Commons and a new exciting opportunity which has high to be which has high part of the emerging market of emerging market of NELA (Northeast Los Angeles) & Glassell Park which has high NELAdemand, but few development prospects such as this. (Northeast Los Angeles) & Glassell Park, which has high demand but few development prospects demand, but few development prospects such as this. demand, but few development prospects such as this. such as this. Pic place holder Pic place holder 3716‐3719 Eagle Rock Boulevard and 3729 Verdugo Road is at the gateway to Pic place holder 3716‐3719 Eagle Rock Boulevard and 3729 Verdugo Road at is the at gateway the gateway to to 3716-3719Glassell Park with direct access 3716‐3719 Eagle Eagle Rock Rock Boulevard Boulevardand identity from the Glendale Freeway (2). and and 3729 3729 Verdugo Verdugo Road Road is at is the gateway to Glassell Park with direct Glassell Park with direct access Glassell Park with direct access and identity from the Glendale Freeway (2). and identity from the Glendale Freeway (2). access and identity from the Glendale (2) Freeway. A burgeoning neighborhood with an influx of new residents with several hundred A burgeoning neighborhood with an influx of new residents with A burgeoning neighborhood with an influx of new residents with several hundred several hundred Aapartments, condominiums and small lot homes built or being built in the area. A burgeoning neighborhood with an influx of new residents, there are several hundred apartments, apartments, condominiums and small lot homes built or being built in the area. A apartments, condominiums and small lot homes built or being built in the area. A condominiumsneighborhood in need of retail an and small lot homesd service businesses and ameni built or being built in the area.ties. Commercial development has not keptneighborhood in need of retail an neighborhood in need of retail anpace, and Glassell Park is a neighborhoodd service businesses and amenid service businesses and ameni in need of retail andties. serviceties. businesses and amenities. Like other communities that have changed and grown over the past 5+ years, Glassell AsLike other communities that have changed and grown over the pas developmentLike other communities that have changed and grown over the pas inevitably continues to expand into Glassell Park, t 5+ years, Glassell it willt 5+ years, Glassell not only result in even more Park and the surrounding area has seen a grassroots growth in retail amenities. demographicPark Park and and the shifts the surrounding surrounding in the community, area area has it has seen will seen also a grassroots drive a grassroots increases growth growth in in real retail estate in retail amenities. values amenities. and lease rates for propertyHowever, as mentioned there haven’t been enough locations…….untHowever, as mentioned there haven’t been enough locations…….untHowever, as mentioned there haven’t been enough locations…….unt owners. il now. il now.

TheThe below chart shows the increase in rent in similar areas starting from before they The below chart shows the increase in rent in similar areas starting from before they The below chart shows the increase in rent in similar areas starting from before they below chart shows the increase in rent in similar areas starting from before they were revitalized. were revitalized. were revitalized. were revitalized.

$5.50$5.50 $5.50 $5.00$5.00 $5.00 $4.50$4.50 $4.50 $4.00$4.00 $3.50$4.00 $3.50 $3.00$3.50 $3.00 $2.50$3.00 $2.50 $2.00$2.50 $2.00 $1.50$2.00 $1.50 $1.50 2nd Qtr 2013 2nd Qtr 2014 2nd Qtr 2016 2nd Qtr 2018 2nd Qtr 2013 2nd Qtr 2014 2nd Qtr 2016 2nd Qtr 2018 2nd Qtr 2013 2nd Qtr 2014 2nd Qtr 2016 2nd Qtr 2018 Atwater Village (Glendale Blvd) Eagle Rock Highland Park (York Blvd & Fig) Silver Lake Atwater Village (Glendale Blvd) Eagle Rock Highland Park (York Blvd & Fig) Silver Lake Atwater Village (Glendale Blvd) Eagle Rock Highland Park (York Blvd & Fig) Silver Lake

RETAIL Asking Rent PSF 2nd Qtr 2013 2nd Qtr 2014 2nd Qtr 2016 2nd Qtr 2018 nd nd nd nd RETAILAtwaterRETAIL Asking Village Asking Rent(Glendale Rent PSF PSF Blvd) 2 Qtr 2nd $1.95 Qtr2013 2013 2 Qtr 2nd $2.34 2014Qtr 2014 2 Qtr 2nd$2.29 2016Qtr 2016 2 Qtr 2$3.25nd 2018 Qtr 2018 AtwaterEagle RockVillage (Glendale Blvd) $1.95$2.12 $2.34 $2.64 $2.29$2.82 $3.25$3.13 Atwater Village (Glendale Blvd) $1.95 $2.34 $2.29 $3.25 Highland Park (York Blvd & Fig) $1.70 $2.01 $2.51 $2.88 GLASSELL COMMONS EagleEagle Rock Rock $2.12$2.12 $2.64 $2.64 $2.82$2.82 $3.13$3.13 Silver Lake $2.50 $3.73 $3.80 $5.06 HighlandHighland Park Park (York (York Blvd Blvd & Fig) & Fig) $1.70 $1.70 $2.01 $2.01 $2.51$2.51 $2.88$2.88 SilverSilver Lake Lake $2.50$2.50 $3.73 $3.73 $3.80$3.80 $5.06$5.06 7

Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. PROPERTY DESCRIPTION GLASSELL COMMONS

Emerging Market Dynamics Investors and Developers Active in the Market

Emerging market dynamics in Northeast Los Angeles and throughout • Engine Real Estate, Los Angeles, CA: Engine Real Estate, an many parts of L.A. reveal unwavering investor interest in this market. investment firm that specializes in the Northeast Los Angeles Buyers are many and varied, including global investment firms, private area, acquired and repositioned The Fig Collection @ Highland equity companies and industrial conglomerates. Park and has listed the property for sale. Engine purchased the 43,000 SF, mixed-use property three years ago as a value-add Despite the skyrocketing real estate prices, Los Angeles continues to investment and has increased rents to market levels. be viewed as under-valued when compared with San Francisco and New York City. Its coastal location and significant barriers to entry • Warmington Residential, Costa Mesa, CA: Warmington has are driving much of the investor confidence, as is the city’s growing built over 40,000 homes in core markets throughout California demographic profile fueled by the media and tech industries and and in Nevada. The company recently completed NELA Union record low vacancy rates for nearly all product sectors. and The E.R.B., for sale communities on Eagle Rock Boulevard.

Why are values at an all-time high? • LA Urban Home, Marina del Rey, CA: LA Urban Homes has been constructing luxury developments for over six decades and • Demand from out-of-state and International investors that view has built over 6,000 residential units. The company is currently Los Angeles as a bargain in comparison to San Francisco, New developing RiverPark, a community of 95 contemporary homes York, and Chicago. near Taylor Yard State Park.

• Lack of new retail development and supply. Many properties • Encore Capital Management, Los Angeles, CA: Encore, with are being removed from supply and being redeveloped as assets under management totaling $2 billion, is developing multifamily projects. over 20,000 rentals, for sale homes and residential lots valued • Record low vacancy in all product types at $4 billion. The company is set to begin construction of 38 townhomes on Eagle Rock Boulevard. • Low Interest rates and volatility in the equity markets creates a flight to safety in “hard” assets. • Pan Am Equities, New York: A developer and property manager, Pan Am Equities is proposing the development of a • Many industries such as film, television, and tech that offer 419-unit rental community along the . high-paying jobs are expanding throughout LA County.

8 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 PROPERTY DESCRIPTION

Property Overview

Sale Price: $5,800,000 Frontage: ±200 feet on Eagle Rock Blvd ±231 feet on Verdugo Rd Address: 3716-3719 Eagle Rock Boulevard 3729 Verdugo Road Number of Floors: 3716-3719 Eagle Roc Blvd - 2 Story Glassell Park/Los Angeles, CA 90065 3729 Verdugo Rd - 1 Story APN’s: 5457-029-027 Year Built: 1956 5457-029-025 1959 Product Type: Two (2) Commercial Buildings Floor-Area-Ratio (FAR): 1.5:1 One (1) Commercial Building Access: Pedestrian & vehicle access from both Building SF: Eagle Rock Blvd ±15,250 Eagle Rock Blvd and Verdugo Rd Verdugo Rd ±2,585 Freeway Access: Directly across from the on/off ramp for the Parcel Size: ±21,118 SF Total Glendale Freeway (2) northbound & .7 miles Eagle Rock Blvd ±13,024 SF from southbound Verdugo Rd ±8,094 SF Block Location/Shape: The lot is irregular in shape. The property Zoning: LAC2 / (Q) C2-1VL-CDO is bounded by a 15 foot alley to the ZI-2129 East Los Angeles State Enterprise Zone southwest, Verdugo Road to the southeast Parking Spaces: 13 Spaces and Eagle Rock Boulevard to the northwest

GLASSELL COMMONS

9 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. PROPERTY DESCRIPTION Exterior Photos GLASSELL COMMONS

ƒƒ ±431 Foot Wrap-Around Frontage ƒƒ Multiple Locations for Tenant Identity

10 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 PROPERTY DESCRIPTION Interior Photos

ƒƒ Bow Truss Ceilings ƒƒ Windows on All Sides

ƒƒ Natural Light ƒƒ Blank Canvas GLASSELL COMMONS 11 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. PROPERTY DESCRIPTION Parcel Map GLASSELL COMMONS

12 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 PROPERTY DESCRIPTION Alta Survey Map GLASSELL COMMONS

13 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. DEVELOPMENT INSPIRATION

GLASSELL COMMONS DEVELOPMENT INSPIRATION

Dining. Retail. It’s all changing. Food halls. Shops that sell an experience. Merch with a message: charity, consciousness, creativity. Many of these ideas already exist in NELA in grass roots forms. Toros Pottery offers lessons. Cena Sin Pistolas is a performance space that hosts vegan dinners. These are emerging trends in metropolitan areas across the country and the Subject Property presents an ideal medium for these messages.

INSCAPE MEDITATION STUDIO NYC CANAL STREET MARKET NYC Call it a mental fitness studio. The Food Hall of Retail. Monetized meditation classes and its own gift shop. Merchants exhibit their wares in their own distinct space. GLASSELL COMMONS

15 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. DEVELOPMENT INSPIRATION GLASSELL COMMONS

BOTTLING DEPARTMENT AT STORY NYC THE PEARL, SAN ANTONIO A retail concept with the point of view of a magazine and From Ramen to Rotisserie, food halls combine personal choice changing exhibits like a gallery that sells things like a store. with community dining.

Dining. Retail. It’s all changing. Food halls. Shops that sell an experience. Merch with a message: charity, consciousness, creativity... 16 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 DEVELOPMENT INSPIRATION

GLOSSIER LOS ANGELES B8ta Seattle Beauty blog turned brick and mortar, Designed for discovering, trying and buying Glossier even has a selfie canyon. the latest tech products.

Dining. Retail. It’s all changing. Food halls. Shops that sell an experience. GLASSELL COMMONS Merch with a message: charity, consciousness, creativity... 17 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. DEVELOPMENT INSPIRATION GLASSELL COMMONS

LINCOLN SOUTH FOOD HALL PACKAGE FREE STORE, NYC BELLEVUE, WA Products sourced with a zero waste mission. It’s all about choices.

Dining. Retail. It’s all changing. Food halls. Shops that sell an experience. Merch with a message: charity, consciousness, creativity... 18 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 DEVELOPMENT INSPIRATION

COURTYARD INSPIRATION

COURTYARD GLASSELL COMMONS

19 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. DEVELOPMENT INSPIRATION GLASSELL COMMONS

“A” - EVENT SPACE “AA”

1400 s.f.

Roll-up door inspiration

“AA” Inspiration

20 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 DEVELOPMENT INSPIRATION

“D” “B” - UPPER

2800 s.f. total

2800 s.f.

UPPER

“C” - UPPER

4000 s.f. including main floor art deco D Inspiration entry from Verdugo Road

UPPER

UPPER GLASSELL COMMONS

21 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. LOCATION OVERVIEW

GLASSELL COMMONS LOCATION OVERVIEW Northeast Los Angeles NELA

Once upon a time the Westside was the ‘it’ place to be in Los Angeles, The movement began with Silver Lake and Echo Park and soon spread but sky-high housing prices, traffic and L.A.’s own brand of manifest to Atwater Village, Eagle Rock and Highland Park. destiny-- the search for the next new thing -- has fueled an eastward NELA is now rife with art galleries, night life and restaurants: migration to a region of about a half-dozen communities in . • Keystone Art Space featuring over 50 artists studios and exhibition space. NELA, as it’s known to locals, includes Atwater Village, Highland Park, Eagle Rock, Cypress Park, Frogtown and Glassell Park, situated in the • NELAart: The Northeast Los Angeles Arts Organization, Inc is a crook formed above the intersection of the Golden State (5) Freeway to collection of numerous independent art galleries, mostly located in the west and the Harbor (110) Freeway to the east. Highland Park. Hosts a Second Saturday Gallery night. “Hipsters are moving across Los Angeles from West to East, and along • Café NELA: Live musical performances including Punk, Hard Rock, with it brings a new wave of residents, new local businesses, and Jazz, Blues, Heavy Metal and Ethnic music in Cypress Park, a tremendously increasing home values,” local residential real estate block from the Glassell Park border. agent Tyler Harman recently blogged. “Despite what most people say, • Pat & Lorraine’s, The Oinkster, Colorado Wine Co., Eagle Rock GLASSELL COMMONS it’s much more than just ‘gentrification’: it’s a brand-new way of looking Italian Bakery and many more. at the entire city of Los Angeles.” 23 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. LOCATION OVERVIEW Northeast Los Angeles NELA GLASSELL COMMONS

By most accounts, communities like Eagle Rock and Highland Park have arrived, and those searching for the next big thing have set their sights on Glassell Park and its neighbors. This year, tripsavvy.com named Glassell Park the Number 2 ‘Up and Coming Neighborhood’ in Los Angeles. Others, like LA Loft Blog say it has already arrived, at least based upon home prices, which rocketed 25.3 percent in 2016 versus the prior year. The reality is that while Glassell Park has outpaced all of the rest of Los Angeles in terms of home price increases, a similar transformation has yet to occur on the commercial side, and the community has not yet seen the number and types of amenities now common in neighboring Eagle Rock and Highland Park. Demographics suggest an influx of new businesses is all but assured. The population of Glassell Park has nearly doubled from 24,816 in 2008 to an estimated 46,000 today. Median household income has increased to $59,076 from $50,098 over the same period, and 30 percent of the population has a college degree, up from 19.7 percent “Trivia Tuesday with Geeks Who Drink”. Eagle Rock Brewery is also in 2008. located here, and it’s interesting to note that, rather than their own food menus, both the tap room and Verdugo offer a variety of rotating food Glassell Park: An Emerging Marketplace trucks parked outside. What better barometer to indicate that there is Many of the area’s amenities were established before home prices an emerging market ready for restaurant offerings? began to skyrocket in Glassell Park. That’s why, besides the Fresh Perhaps the most idiosyncratic establishment in the neighborhood is & Easy Market, most of the markets are ethnic: El Ranchito, Fiesta Cena Sin Pistolas (Dinner, Not Guns), an art space on Fletcher Drive that Market, La Esquina Meat Market and others. There are just a few small hosts a weekly vegan dinner. shopping centers such as Verdugo Plaza and Coreano Mission Premier Plaza. And the majority of restaurants are of the fast food variety, with Neighbors in Glassell Park believe that the Los Angeles River restoration a few newer exceptions: Habitat Coffee House and Division 3, a casual project will expedite the transformation of the neighborhood. The city lunch spot with an outdoor patio, and Lemon Poppy Kitchen. has acquired a 41-acre riverside parcel next to Rio de Los Angeles State Park that borders Cypress Park and Glassell Park. Parcel G2 as its Nor has Glassell Park established the kind of lively nightlife found just known that is being called the “crown jewel” of river properties. a few miles away in Eagle Rock, Frogtown and Highland Park. The community’s Verdugo Bar is the exception, combining a large selection But for the most part, locals are content with the numerous parks and of craft beers with a DJ, an outdoor patio and game nights such as open spaces along with the Glassell Park Recreation Center, offering music, dance, tennis and soccer classes for children and adults. 24 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 LOCATION OVERVIEW Aerial View GLASSELL COMMONS

25 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. LOCATION OVERVIEW Aerial View GLASSELL COMMONS

26 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 LOCATION OVERVIEW Locator Map GLASSELL COMMONS

27 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. LOCATION OVERVIEW Driving Distance Map GLASSELL COMMONS

28 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 LOCATION OVERVIEW Neighboring Businesses

CVS SUBJECT 3716 Eagle Rock Blvd. Los Angeles, CA Rite Aid Arco Starbucks O’Reilly Auto Parts Target • CVS Urban Pet Forest Lawn Memorial Park Habitat Coffee YORK BLVD Chevron Live Arts Los Angeles XIX Studios LAPD Tacos La Estrella Papa John’s Corner Cuisine US Post Offi ce Subway • Matsuri Bowl Burger King Innovative Leisure Glassell Senior Citizen Center Waba Grill Eagle Rock Brewery Glassell Park Recreation Subway Kingsize Soundlabs Center Complex McDonald’s Verdugo Bar Yoshinoya Ribet Academy GLENDALE FWY (2) Gorditas Lupita Denny’s Gianneti Factory Saf Keep Storage

Los Feliz Charter School Lemon Poppy Kitchen for the Arts Super King Market Verdugo Mexican Restaurant Intelligentsia Coffee Point 360 Digital Film Labs ABC Rehearsal Studio

N SAN FERNANDO RD EAGLE ROCK BLVD N Radiant Images VT Pro Design Sony Pro Imaging Out of the Closet Division 3

Redfi n Thinkwell Group VR Playhouse Wagville

Patra’s Charbroiled LA California Tortilleria Burgers

MEDIA/ENTERTAINMENT RETAIL RESTAURANT/EATERY OTHER GLASSELL COMMONS

29 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. LOCATION OVERVIEW Amenities Aerial GLASSELL COMMONS

30 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 LOCATION OVERVIEW Transit Map

La Canada Flintridge North Altadena Burbank

Universal 3716 EAGLE ROCK BLVD. Sherman Studio City Pasadena Oaks City Glendale Eagle GLENDALE Rock Highland Park TRANSPORTATION San Marino Arcadia CENTER South Pasadena

Hollywood Alhambra West Hollywood LOS ANGELES El Monte Central Beverly Hills LA UNION STATION South Monterey Park El Monte METRO CENTER DTLA Culver Montebello City Jefferson Vernon Commerce Ladera Heights Huntington Pico Maywood Rivera Park GLASSELL COMMONS Inglewood Bell 31 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. LOCATION OVERVIEW Development Underway GLASSELL COMMONS

4247 Eagle Rock Blvd 4515 Eagle Rock Blvd Perch Apartments, 52 Encore Capital is 3901 Eagle Rock Blvd rental units, will soon expected to begin 4211 Eagle Rock Blvd NELA Union, a be completed. construction shortly collection of 52 modern Yup. Glassell Park for 38 townhomes homes priced from now has a Target store. and other mixed use $475,000 to the high buildings. $600,000s sold out quickly.

4326 Eagle Rock Blvd Warmington’s The E.R.B. with 45 for sale 4037 Eagle Rock Blvd units in the $800,000 range, has just opened A sale is pending on 4260 N Eagle Rock Blvd for sale. this land parcel that would accommodate 2750 Casitas Ave Teague Terrace 17 small homes or recently opened with Pan Am Equities is a 25-unit apartment 56 affordable rental proposing a 419-unit, complex. units. mixed-use project called Bow Tie Yard Lofts along the Los Angeles River.

32 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 LOCATION OVERVIEW Developments Aerial

3815 W. AVENUE 43 4515 EAGLE ROCK BLVD. Proposed Development New Development 28 Apartments 38 Townhomes

3901 EAGLE ROCK BLVD. SUBJECT Nela Union 3716 Eagle Rock Blvd. 52 Townhomes Los Angeles, CA 4344 EAGLE ROCK BLVD. NEIA • 52 Units

4320 N. EAGLE ROCK BLVD. The ERB 45 Townhomes

2750 CASITAS AVENUE Bow Tied Yard 4037 EAGLE ROCK BLVD. Proposed Development Proposed Development 4260 N. EAGLE ROCK BLVD. 419 Apartments 25 Apartments Teague Terrace 56 Apartments

118 SOUTH AVENUE 50 FIG & FIFTY 29 Townhomes

4247 EAGLE ROCK BLVD. The Perch TAYLOR YARD G2 49 Apartments RIVER PARK $60 Million • 42 Acre LA River Revitalization Project GLASSELL COMMONS

33 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. MARKET OVERVIEW

GLASSELL COMMONS MARKET OVERVIEW A Work In Progress NELA A Work In Progress #2

ARTISTS IN RESIDENCE

Avenue 50 Studio Up & Coming Neighborhood in LA

Cactus Gallery tripsavvy.com

Keystone Art Space

Toros Pottery

Scout Regalia LOCATION 25.3%

ƒƒ 20 Minutes to Downtown LA ƒƒ 10 Minutes to ƒƒ Metro bus to Downtown, Eagle Rock, atwater Village, Highland Park and more

ƒƒ Metro Gold Line to Downtown, South Pasadena and more GLASSELL COMMONS Increase in home prices 35 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. MARKET OVERVIEW Demographics GLASSELL COMMONS NELA Demographics

POPULATION TRAFFIC COUNTS (per day/2016)

POPULATION NORTHBOUND (3-mile radius of subject property) 40,444 297,797 SOUTHBOUND DAYTIME POPULATION 22,727 105,491

HOUSEHOLD INCOME EDUCATION „„ $59,517 (1 mile) 58.3% „„ $54,806 (2 miles) of residents have „„ $57,223 (3 miles) some college or more

MEDIAN AGE POPULATION GROWTH (2010-2018) 38.6 2.64% 36 A Mixed-Use Development Opportunity at the Epicenter of NELA 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 MARKET OVERVIEW Some of the Project Area Neighbors

#thirsty #shops #restaurants #music

Glassell Park is still waiting for a lively Bauer Potter Company Dining in NELA? Expect the unexpected. Café Nela 1906 Cypress Ave. bar scene, but the surrounding area 3051 Rosslyn St. Vietnamese pho and American pie; From punk to psychedelic offers a variety of quirky spots, usually Founded in 1878; re-imagined in tacos made of duck; Polish pierogis including craft beers or signature 1929; shuttered in 1962; reborn and Romanian pastries. Definitely not a cocktail drinks. in 1998 neighborhood for chains, NELA offers a Block Party unique spin on casual dining. 5052 York Blvd Baum-Kuchen Beer garden and the great 3423 Verdugo Road CaCao Mexicatessen 5630 N Figueroa St. outdoors ETA Bauhaus meets wabi-sabi 1441, 1576 Colorado Bl Specialty cocktails and live music Tacos reinvented with Colorado Wine Co. duck confit 2305 Colorado Blvd Napaesque wine bar and D3 tasting room 3329 Division St. The Glass Studio Grab and go breakfast Eagle Rock Brewery 5668 York Blvd and lunch 3056 Roswell St. Gallery, store and classes Eagle Rock Italian Bakery Highland Park Bowl Family owned 1726 Colorado Blvd. microbrewery and tap room 5621 N Figueroa St. Cannoli’s made here. Eat, drink, bowl and groove Room 31 2136 Colorado Blvd Good Girl Dinette Craft cocktails anyone? Permanent Records 110 N Avenue 56 5116 York Blvd Vietnamese pho; American pie Curated vinyl and live Verdugo Bar Habitat Coffee 3408 Verdugo Rd performances 3708 N Eagle Rock Blvd The Hi Hat 5043 York Blvd Craft beer and dj’s Vegan, gluten free, paleo Rock ‘n Roll or organic Walt’s Bar The Plus Bus Kitchen Mouse 4680 Eagle Rock Blvd 2701 W Avenue 34 5904 N Figueroa St Beer, wine and pinball Buy, swap, sell for the Gourmet vegetarian curvaceous Lemon Poppy Kitchen 3324 Verdugo Road Lodge Room 104 N Avenue 56 Romanian breakfast and Live music and djs #entertainment lunch Pop-Hop Bookstore 5002 York Blvd Pat & Lorraine’s Highland Theatre Curated new and used books 4720 Eagle Rock Blvd 5604 N. Figueroa St. As seen in Reservoir Dogs with live record release, book launch and poetry reading events Polka Polish Restaurant 4112 Verdugo Rd Zebulon 2478 Fletcher Drive First opened in 1925, the Highland Theatre is now a Swrve Pierogis as seen in Diners, Hipster bands and djs Los Angeles Historic-Cultural Monument. Designed 3421 Verdugo Road Drive-ins & Dives by Louis Arthur Smith, the theatre has just three Designed for the urban bicycling Red Herring screens. While its amenities can’t compare with enthusiast 1661 Colorado Blvd newer movie theaters, it’s steeply discounted Comfort food with a view GLASSELL COMMONS pricing - for both matinees and evening shows-- of the sunset puts the theatre well ahead of competitors.

Neighbors Neighbors Neighbors Neighbors 37 Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. MARKET OVERVIEW Lifestyle GLASSELL COMMONS NELA The Lifestyle CaCao Mexicatessen...Mexican for foodies...Think duck carnitas and fig molé

Sonny’s Hideway Little Beast Kinship Yoga Leader of the Pack Just what Philip Marlowe Definitely date night Yoga, beats and more Vintage Vroom might have ordered

For additional information and to schedule a tour of the property, please contact:

Pat & Lorraine’s MindfulNest The Oinkster Cafe de Leche If this diner looks familiar, it’s probably Artisans for the home What else would you call Indie small batch roasters 38because you saw it in Reservoir Dogs a comfort food eatery? Take that Starbucks! A Mixed-Use Development Opportunity at the Epicenter of NELA Lee & Associates®-LA North/Ventura, Inc. • Corporate ID # 01191898 • A Member of the Lee & Associates Group of Companies 3716-3719 Eagle Rock Blvd / 3729 Verdugo Rd, Glassell Park/Los Angeles, CA 90065 15250 , Suite 100, Sherman Oaks, California 91403 For additional information and to schedule a tour of the property, please contact:

Scott Romick Cory Stehr Managing Director Principal 818.933.0305 818.933.0304 [email protected] [email protected] License # 01323527 License #01851029

Lee & Associates®-LA North/Ventura, Inc. • Corporate ID # 01191898 • A Member of the Lee & Associates Group of Companies 15250 Ventura Boulevard, Suite 100, Sherman Oaks, California 91403 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.