BRANDON MICHAELS GROUP SOUTHERN CALIFORNIA'S PREMIER SALES TEAM WARNER CENTER TOWERS (1.9 Million SF Office Towers)
VENTURA FWY
($1.5 billion capital infusion - 1,400 residential units, 2 hotels, 864,000 SF Class A office & retail, Entertainment and Sports Center) UPTOWN AT WARNER CENTER $4 billion mixed-use development
OWENSMOUTH AVE SHERMAN WAY
Situated in a QUALIFIED OPPORTUNITY ZONE
15,750 SF Retail/Office Ideally Located Within a Prime Canoga 7227 OWENSMOUTH AVE . CANOGA PARK, CA 91303 Mixed-use Building Qualified Opportunity Zone Park Location INVESTMENT ADVISORS BRANDON MICHAELS Senior Managing Director of Investments Senior Director, National Retail Group Tel: (818) 212-2794 Fax: (818) 212-2710 [email protected] License: CA #01434685 www.BrandonMichaelsGroup.com STEVEN SCHECHTER First Vice President Investments Director, National Retail Group Tel: (818) 212-2793 Fax: (818) 212-2710 [email protected] License: CA #01089464 www.BrandonMichaelsGroup.com
CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party re- ceiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified infor- mation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for aw thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminat- ing substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the finan- cial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we be- lieve to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Mar- cus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The pres- ence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus TABLE OF CONTENTS & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the pur- pose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DE- TAILS. SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as 1 2 3 4 intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised PROPERTY OVERVIEW FINANCIAL ANALYSIS COMPARABLES ANALYSIS AREA OVERVIEW to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.) 2 2 3 PROPERTY OVERVIEW WINNETKA
CANOGA PARK WARNER CENTER TOWERS (1.9 Million SF Office Towers) OWENSMOUTH AVE SHERMAN WAY UPTOWN AT WARNER CENTER $4 billion mixed-use development TRILLIUM TOWERS
VANOWEN ST
O R AN GE LIN E BU ($1.5 billion capital infusion - 1,400 SWAY residential units, 2 hotels, 864,000 SF VICTORY BLVD Class A office & retail, Entertainment and Sports Center)
WARNER CENTER TOWERS 1.9 million SF of Class A office towers
ERWIN ST DE SOTO AVE
VARIEL AVE
W OXNARD ST
CANOGA AVE WARNER CENTER
TOPANGA CANYON BLVD BURBANK BLVD
VENTURA FWY 7227 OWENSMOUTH AVE 6 VENTURA BLVD 7 WARNER CENTER TOWERS 1.9 million SF of Class A office towers ($1.5 billion capital infusion - 1,400 residential units, 2 hotels, 864,000 SF Class A office & retail, Entertainment and Sports Center) WARNER CENTER 6636 VARIEL AVE UPTOWN AT WARNER CENTER A new seven-story residential project with 271 apartments above a parking $4 billion mixed-use development structure.
A 15,380 square foot mixed-use retail and office building currently 94% vacant ideally located within close proximity to the
Warner Center, one of Southern California’s fastest growing submarkets with over 80,000 new jobs and 37 million square CANOGA AVE VANOWEN ST feet of residential and business buildings projected by 2037
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively represent for sale 7227 Owensmouth Avenue, a 15,380 square foot mixed-use retail and office building situated on 14,930 square feet of land situated on Owensmouth Avenue just north of Sherman Way, within close GAULT ST proximity to the high growth sub-market of Warner Center, CA. The subject property features 3,750 square feet of ground floor retail space, and 12,000 square feet of office space. In addition to having 34 on-site parking spaces, 7227 Owensmouth is located directly across from a city public parking lot.
7227 Owensmouth Avenue is ideally located less than half a mile from the Warner Center, which has garnered significant attention for the numerous development projects occurring within the district. The Warner Center Specific Plan creates development capacity for over 26,000 residential units. 7227 Owensmouth is currently 94% vacant, creating a unique opportunity for an owner-user Buyer to occupy a portion or all of the property or allowing a value-add investor to re- position a well located mixed-use building ideally located in one of the fastest growing sub-markets nationally. SHERMAN WAY
7227 Ownesmouth Avenue is ideally located within close proximity to Warner Center, one of the fastst growing submarkets nationally. This centralized West San Fernando Valley location offers direct access to the Interstate 101 Ventura Freeway and is located less than three miles from Kaiser Permanente Woodland Hills. Warner Center boasts high-end demographics, dense immediate population, high barriers to entry and strong market fundamentals. Known as the central business district of the San Fernando Valley, Warner Center is one of Los Angeles’ largest urban developments, offering a sweeping complex of office parks, high-rise office towers, apartments, and shopping centers including Westfield Topanga and the Village at Westfield Topanga.
OWENSMOUTH AVE
OFFICE/RETAIL 15,380 SF 14,930 SF 94% OPPORTUNITY ZONE MIXED-USE BUILDING TOTAL BUILDING SF TOTAL BUILDING SF CURRENT VACANCY ZONING - LAC2
8 9 TRILLIUM TOWERS
Warner Center Towers Westfield Promenade 2035 Westfield Topanga & The Village
The Warner Center is one of Los Angeles’ largest urban developments, offering a sweeping complex of office parks, high- AVE rise office towers, apartments, and shopping centers and is experiencing a tremendous infusion of capital with thousands of OWENSMOUTH UPTOWN AT WARNER CENTER residential units currently in planning or development $4 billion mixed-use development
($1.5 billion capital infusion - 1,400 SHERMAN WAY residential units, 2 hotels, 864,000 SF Class A office & retail, Entertainment The multi-billion-dollar submarket is home to substantial development, including the $1.5 billion renovation the Westfield Promenade and the $3.5 billion and Sports Center) TOPANGA CANYON BLVD Uptown at Warner Center. The Westfield Promenade will include retail, Class A office, two hotels, 14,000 residential units, and an entertainment and sports center. Uptown at Warner Center is a one-of-a-kind development consisting of 47 acres creating a state of the art “live/work/play” environment. The walkable
WARNER CENTER TOWERS community will feature a combination or retail and residential uses including retail, office, hotel, research & development, assisted living and community center 1.9 million SF of Class A office towers and a 5-acre open park. AVE OWENSMOUTH Significant growth is projected in the immediate area, with 37 million square feet of business and residential buildings, 14 million square feet of non-residential VICTORY BLVD VANOWEN ST building area, 200,000 residential units, and 80,000 new jobs projected by 2037. Thousands of new residential units are coming online, joined by millions square feet of existing and proposed retail and class A office, as well as creative office space.
CANOGA AVE This dense immediate sub-market benefits from over 400,000 people within five miles of the subject property. There is significant growth projected over the ERWIN ST upcoming five years with a significant amount of residential development slated for the immediate area. There are over 140,000 households within five miles of the subject property, and over 15,000 households within one mile. The average household income ranges between $78,000 - $104,000 within one to five miles.
DE SOTO AVE
W OXNARD ST MADRID WESTFIELD - UPTOWN AT WARNER CENTER PIERCE THEATRE TOPANGA & THE VILLAGE WARNER CENTER TOWERS COLLEGE 450 FEET 1.2 MILES 1.2 MILES 2.0 MILES 2.1 MILES
10 11 EXCELLENT CANOGA PARK LOCATION MULTI-BILLION DOLLAR SUB-MARKET COMPLETE WITH RETAIL ATTRAC- TIONS AND PREMIERE OFFICE HUB • Ideally Located less than a mile from the Warner Center • Located one mile from Westfield Topanga & The Village, a 2.1 million • Close proximity to the newly built, open-air retail center “The Village” at Westfield square foot shopping center Topanga and Westfield Topanga, encompassing over 2.7 million square feet of retail • Just North of Sherman Way, a main east west thoroughfare through space with over 250 top brands, restaurants and entertainment options the San Fernando Valley 7227 OWENSMOUTH AVE . CANOGA PARK, CA 91303 • Close proximity to the Westfield Promenade, a $1.5 billion renovation that includes • Located near the Madrid Theatre - the West Valley's premier retail, Class A office, two hotels, 14,000 residential units, and an entertainment and performance venue WHY BUY sports center • Within close proximity to Uptown at Warner Center is receiving a $3 billion capital MIXED-USE RETAIL AND OFFICE BUILDING WITH EXCELLENT FLEXIBILITY 7227 infusion to complete a mixed-use development • Local retailers include: Apple, Nordstrom, Neiman Marcus, Target, Macy’s,. REI, • Currently 94% vacant OWENSMOUTH Costco, Best Buy Electronics, Crate & Barrel • Each floor is subdivided into multiple units/suites, allowing for • Local restaurants include: Roy’s Asian Fusion, Fleming’s Steakhouse, California Pizza flexibility in tenancy or owner occupancy AVE Kitchen, Cheesecake Factory, Chipotle, Il Fornaio, Pizza Rev, Guacho Grill, Coffee • The first floor is 3,750 square feet and is subdivided into four retail Bean & Tea Leaf, P.F. Changs and many more units • Approximately 40,000 employees work within Warner Center. • The second and third floors are each 6,000 square feet, and are • Major employers include HealthNet Inc., Zenith Insurance, Kaiser Permanente further subdivided into 4 office suites each SITUATED IN A QUALIFIED Hospital, Pratt & Whitney, and Pierce College OPPORTUNITY ZONE IDEAL OWNER-USER OR VALUE ADD OPPORTUNITY STRONG IMMEDIATE DEMOGRAPHICS AND POPULATION DENSITY The Property sits within an • Flexibility in leases would allow an owner-user buyer to occupy a IDEALLY LOCATED LESS THAN HALF A MILE Opportunity Zone, a tract FROM WARNER CENTER • Average household income of $78,000 - $104,000 nominated by governors into which portion of the property investors can now put capital to • Strong local economy with significant job growth over a multitude of diverse sectors • An owner-user could occupy part of the property and lease out the • Located less than one mile from the Warner Center work by financing new projects in • Over 80,000 new jobs, 37 million square feet of business and residential buildings, exchange for unique federal capital rest for additional income • Uptown at Warner Center is receiving a $3 billion capital infusion to complete a gains tax advantages. 14 million square feet of non-residential building area, 200,000 residential units • Property is 94% vacant, which allows for immediate upside upon mixed-use development projected in the immediate area leasing • Within two miles of the Westfield Promenade, which is set to undergo a $1.5 • Over 2 million residents and 850,000 jobs in the densely populated San Fernando billion renovation Valley • Thousands of new residential units coming online with a strong desire to attract • Over 40,000 people located within one mile of the subject property millennials • Over 151,500 households located within a 5 mile radius • Recent office conversions hope to attract top national companies to enhance • Average annual income of just under $80,000 within one mile of the subject property growth and opportunity 12 • Over $5,000,000,000 of total consumer spending within a 5 mile radius 13 THE OFFERING 7227 OWENSMOUTH AVE
Situated in a 7227 Owensmouth Avenue ADDRESS: QUALIFIED OPPORTUNITY ZONE Canoga Park, CA 91303
PRICE: $4,250,000
BUILDING SF: 15,380 SF
7227 OWENSMOUTH AVE . CANOGA PARK, CA 91303 LAND SF: 14,930 SF
PRICE/SF(BUILDING): $276
PRICE/SF(LAND): $285
CURRENT VACANCY: 94%
PRO FORMA CAP RATE: 5.93%
12,000 SF 3,380 SF NO. OF STORIES: 3 Office Building SF Retail Building SF PARKING: 38 spaces are available
ZONING: LAC2
OPPORTUNITY ZONE: Yes
YEAR BUILT: 2008
5.93% 94% APN NUMBER: 2111-020-035 Pro Forma CAP Rate Current Vacancy PROPERTY TYPE: Office/Retail (Mixed-use)
14 15 PROPERTY DETAILS 7227 OWENSMOUTH AVE
7227 Owensmouth Avenue ADDRESS: Canoga Park, CA 91303
SITE LOCATION: The subject property is located near the intersection of 38 LAC2 Owensmouth Avenue and Sherman Way. Parking Spaces Zoning
SQUARE FOOTAGES: The total building square footage is 15,380 SF. The total land square footage is 14,930 SF.
PARKING: 38 parking spaces are available. The parking ratio is 2.41 per 1,000 SF. 10,000+ Yes Traffic Counts Opportunity Zone TRAFFIC COUNTS: The traffic counts at the intersection of Owensmouth Avenue and Sherman Way are approximately 10,000 vehicles per day.
ZONING/APN NUMBER: The zoning is LAC2. The APN number is 2111-020-035.
OPPORTUNITY ZONE: The property is located within an Opportunity Zone.
16 17 FINANCIAL ANALYSIS FINANCIAL ANALYSIS 7227 OWENSMOUTH AVE
RENT ROLL PRICING TENANT SF SF% LEASE EXP RENT RENT/SF PRO FORMA RENT PRO FORMA RENT/SF
Retail Vacant 845 5% $2,000.00 $2.37 7227 Owensmouth Avenue ADDRESS: Retail Farmers Insurance 845 5% 3/31/2021 $2,000.00 $2.37 $2,000.00 $2.37 Canoga Park, CA 91303
Retail School 845 5% 1/31/2021 $2,000.00 $2.37 $2,000.00 $2.37 PRICE: $4,250,000 Retail Vacant 845 5% $2,000.00 $2.37 BUILDING SF: 15,380 SF Office Vacant 6000 39% $12,000.00 $2.00 LAND SF: 14,930 SF Office Vacant 6,000 39% $12,000.00 $2.00 PRICE/SF(BUILDING): $276 Total 15,380 100% $4,000.00 $32,000.00 PRICE/SF(LAND): $285
OPERATING DATA PRO FORMA CAP RATE: 5.93% INCOME AND EXPENSE CURRENT PRO FORMA EXPENSE BREAKDOWN PER YEAR PER YEAR CURRENT VACANCY: 94% Scheduled Lease Income $48,000 $384,000 Taxes @1.25% $53,125 $3.45 NNN Charges $31,363 Insurance $6,921 $0.45 Utilities $29,222 $1.90 Effective Gross Income $48,000 $415,363 Trash $3,076 $0.20 Vacancy @5% $2,400 $20,768 Janitorial $12,304 $0.80 Expenses $142,711 $142,711 Repairs & Maintenance $29,222 $1.90 Net Operating Income -$97,111 $251,884 Security $3,845 $0.25 Reserves $3,076 $0.20 Management $1,920 $0.12 Total $142,711 $9.28 / $0.77
20 21 COMPARABLES ANALYSIS SALES COMPARABLES 7227 OWENSMOUTH AVE
BUILDING PRICE/ PRICE/ ADDRESS PRICE LAND SF ZONING SALES DATE SF SF(BLDG) SF(LAND) 7227 Owensmouth Ave 1 7621 Canoga Ave (Q)MR1, 1 $4,390,000 16,000 $274.38 7,405 $155.05 6/28/2019 1 7621 Canoga Ave Canoga Park, CA 91304 C2-1, P-1 4 2 21100 Erwin St 3 3 7028 Owensmouth Ave 21100 Erwin St 7 6 2 $12,750,000 41,058 $310.54 43,159 $295.42 LAWC 5/5/2020 Woodland Hills, CA 91367 4 7108-7110 Remmet Ave
5 7334 Topanga Canyon Blvd 2 7028 Owensmouth Ave C2-1VL & 3 $2,300,000 6,408 $358.93 7,405 $310.59 1/31/2019 6 22015-22027 Vanowen St Canoga Park, CA 91303 P-1VL 5 6 22736 Vanowen St
7108-7110 Remmet Ave 4 $1,090,000 1,900 $573.68 7,405 $147.19 LAC2 3/1/2019 Canoga Park, CA 91303 SALES COMPARABLES | PRICE/SF
7334 Topanga Canyon CR-1, Los 5 Blvd $8,200,000 34,884 $235.06 37,248 $220.15 4/17/2020 $333 Angeles AVG PRICE/SF Canoga Park, CA 91303
22015-22027 Vanowen St 6 $6,400,000 21,871 $292.62 43,434 $147.35 LAP 8/19/2020 Canoga Park, CA 91303
22736 Vanowen St 7 $4,300,000 15,025 $286.19 14,375 $299.13 CR-1P-1 3/18/2020 $225 West Hills, CA 91307 AVG PRICE/SF(LAND)
AVERAGE $5,632,857 19,592 $333.06 22,919 $224.98 - -
24 25 RENT COMPARABLES - OFFICE 7227 OWENSMOUTH AVE
RENT/SF/ RENT/SF/ ADDRESS RENTABLE SF SF LEASED LEASE TYPE LEASE START MONTH YEAR 7227 Owensmouth Ave
7361 Topanga Canyon Blvd 1 7361 Topanga Canyon Blvd 1 5,004 2,502 $1.25 $15.00 MG May 2020 Canoga Park, CA 91303 1 2 22148 Sherman Way 3 3 7301 Topanga Canyon Blvd 22148 Sherman Way 2 13,927 1,450 $1.50 $18.00 TE May 2020 5 Canoga Park, CA 91303 4 22048 Sherman Way 2 6 4 7245-7257 Topanga Canyon 5 Blvd 7301 Topanga Canyon Blvd 3 29,577 1,235 $1.80 $21.60 MG Apr 2020 6 22122-22126 Sherman Way Canoga Park, CA 91303
RENT COMPARABLES - OFFICE | RENT/SF/MON 22048 Sherman Way 4 34,580 634 $1.50 $18.00 - Jan 2020 Canoga Park, CA 91303 $1.75 AVG RENT/SF/MON 7245-7257 Topanga Canyon 5 Blvd 10,562 1,400 $0.64 $7.68 +ELEC Apr 2019 Canoga Park, CA 91303
22122-22126 Sherman Way 6 21,060 732 $1.75 $21.00 +CHAR Apr 2019 Canoga Park, CA 91303 $17.90 AVG RENT/SF/YR
AVERAGE 20,612 1,172 $1.49 $17.90 - -
26 27 RENT COMPARABLES - RETAIL 7227 OWENSMOUTH AVE
RENT/SF/ RENT/SF/ ADDRESS RENTABLE SF SF LEASED LEASE TYPE LEASE START MONTH YEAR 7227 Owensmouth Ave
22021-22027 Sherman Way 1 5,360 1,340 $1.75 $21.00 MG Aug 2020 1 22021-22027 Sherman Way Canoga Park, CA 91303 2 21300 Sherman Way 7 3 3 7234 Owensmouth Ave 21300 Sherman Way 2 8,525 575 $2.50 $30.00 - Mar 2020 1 Canoga Park, CA 91303 5 6 4 2 4 21708-21712 Sherman Way 5 22122-22126 Sherman Way 7234 Owensmouth Ave 3 3,360 1,100 $3.90 $46.80 NNN Jan 2020 6 21828 Sherman Way Canoga Park, CA 91303 7 7209-7219 Owensmouth Ave
21708-21712 Sherman Way 4 4,450 2,200 $1.55 $18.60 NNN Jul 2019 Canoga Park, CA 91303 RENT COMPARABLES - RETAIL | RENT/SF/MON
22122-22126 Sherman Way 5 21,060 1,411 $1.55 $18.60 NNN Jul 2019 $2.03 Canoga Park, CA 91303 AVG RENT/SF/MON
21828 Sherman Way 6 5,450 5,450 $1.38 $16.56 MG Jun 2019 Canoga Park, CA 91303
7209-7219 Owensmouth Ave 7 4,634 1,400 $1.57 $18.84 MG May 2019 $24.34 Canoga Park, CA 91303 AVG RENT/SF/YR
AVERAGE 7,548 1,925 $2.03 $24.34 - -
28 29 AREA OVERVIEW DISTANCE TO NEARBY CITIES:
• Warncer Center: 2.5 Miles CANOGA PARK • Winnetka: 2.0 Miles • Woodland Hills: 3.7 Miles • Chatsworth: 3.6 Miles AN AFFLUENT NEIGHBORHOOD IN THE WEST SAN FERNANDO VALLEY • Reseda: 4.5 Miles Canoga Park is a neighborhood in the San Fernando Valley region of Los Angeles, California, United States. Before the Mexican–American War, the district was part of a rancho, and after the American victory it was converted into wheat farms and then subdivided, with part of it named Owensmouth as a town founded in 1912. It joined Los Angeles in 1917 and was renamed Canoga Park on March 1, 1931, thanks to the efforts of local civic leader Mary Logan Orcutt.
Canoga Park is bordered by Woodland Hills on the south, West Hills on the west, Chatsworth on the north, and Winnetka on the east.
Bell and Dayton Creeks flowing from the Simi Hills, and Arroyo Calabasas (Calabasas Creek) from the Santa Monica Mountains are several of the headwaters of the Los Angeles River that originate in the western San Fernando Valley that flow through Canoga Park. The Los Angeles River itself begins at the confluence of Calabasas Creek and Bell Creek behind Canoga Park High School. These and other small creeks supply stormwater and suburban runoff water to the Los Angeles River, and several are considered year round creeks. Although the creeks are now channeled and run within concrete walls, they do form a significant urban wildlife landscape and contribute to the population of indigenous wildlife left within the San Fernando Valley.
The 2000 U.S. census counted 53,227 residents in the 4.35-square-mile Canoga Park neighborhood—or 12,240 people per square mile, about an average population density for the city. In 2008, the city estimated that the population had increased to 60,578. In 2000, the median age for residents was 30, also about average for city and county neighborhoods.
32 33 WARNER CENTER
A MULTI-BILLION DOLLAR SUBMARKET
Warner Center is one of Los Angeles’ largest urban developments, offering a sweeping complex of office parks, high-rises, apartments, and shopping centers. It is home to approximately 20,000 residents and employs more than 50,000 people. Known as the central business district of the San Fernando Valley, the district combines a mix of office buildings, hotels, world class restaurants, shopping centers, and business parks.
The forner Rocketdyne site, named Uptown at Warner Center, located at Vanowen Street and Owensmouth Avenue is slated for a $4 billion, six million square foot development by United Technologies Corporation and Boston Global. The six million square feet project will include 3.95 million square feet of residential space and 1.1 million square feet of Class A office space. The project will also include 310,000 square feet of cultural and public space, 240,000 square feet of assisted living space, 200,000 square feet of high-end retail, and 155,000 square feet of hotel space. The Trillium is among the most prestigious office Built in stages between 2001 and 2005, LNR Warner Warner Center Towers is a 1,937,959 square foot campuses in Woodland Hills combining for 660,669 Center is comprised of four five-story buildings and office campus comprised of six prestigious office Warner Center is poised to undergo profound changes as commercial square feet of Class-A office space. The Trillium one three-story building containing approximately towers strategically located in the heart of Warner development expands over the next two decades. With the advent of the Center. It is one of Los Angeles' largest office features an attractive stone and tinted glass exterior, 808,274 square feet in total. Tenants include Health Warner Center 2035 Plan, Warner Center is quickly becoming one of the campuses and offers a park-like setting with accentuated by lavish interior finishes and on-site Net, UMG Recordings and Viking River Cruises. fastest growing sub-markets in the country. landscaped plazas, attractive fountains, high-end amenities. amenities, and breathtaking views.
MAJOR TENANTS MAJOR TENANTS MAJOR TENANTS • ADP, LLC • Kaiser Permanente • AIG • CGI Strategies • Wells Fargo Bank • Morgan Stanley • Zurich North America • Merrill Lynch • KPMG LLP • Blue Shield of California • Bank Of America Mortgage • Union Bank • Goldman, Magdalin & Krikes, LLP • Anthem Blue Cross • Banc of California • Black Compean & Hall LLP • Goldco • Regal Cinemas
34 35 WARNER CENTER
ius rad ile m MAJOR CAPITAL INFUSION 5 Westfield’s Promenade 2035 CANOGA Estimated $1.5 billion capital infusion 3 m ile PARK r ad Uptown at Warner Center iu s $3-4 billion capital infusion WEST s HILLS diu Brings entertainment, culture, sporting events to the heart of the San ra e RESEDA il WINNETKA 37 m Fernando Valley activating residents to live, work, shop, stay and play.
1 SIGNIFICANT GROWTH PROJECTIONS 3 MILLION SF 80,000 21,000 new households and 80,000 new jobs projected in Warner Center new jobs created with Warner of MILLIONbusiness and residential SFbuildings by 2035 combined with an additional 37 million square feet of business of high-end retail and entertainment including Westfield's Promenade, Westfield Topanga, and The Village Center 2035 added to Warner Center by 2035 WOODLAND TARZANA and residential buildings and 20,000 residential units HILLS ENCINO EXPEDITED APPROVAL PROCESS Developers conforming to Specific Plan Urban Design guidelines may CALABASAS process approvals which City of Los Angeles estimates of 4-6 months from complete project submission. OVER PREMIER BUSINESS HUB WARNER CENTER BOUNDARIES Upscale community containing well-educated and professional workforce, Warner Center is the central business district of the San Fernando Valley. 8,000 quality residences and growing Fortune 500 Companies Major office towers $91.5K 60% • Walt Disney Company • Warner Center Towers • Amgen Inc. • LNR Warner Center Estimated average median household of Woodland Hills' residents have a bachelor's • Health Net Inc. • Trillium Towers income in Woodland Hills degree or higher. • Avery Dennison Corp • Farmers Plaza
36 37 WINNETKA CANOGA PARK
TRILLIUM TOWERS (660,669 SF UPTOWNREVEAL AT Office Towers) WARNER CENTER(438 units) $4 billion high-rise METRO ORANGE development LINE BUSWAY
VANOWEN STREET
CANOGA AVENUE
FARMER'S PLAZA OFFICE TOWERS WARNER CENTER TOWERS (1.9 Million SF Office Towers)
($1.5 billion capital infusion - 1,400 residential units, 2 hotels, 864,000 SF Class A office & retail, Entertainment TOPANGA CANYON BOULEVARD and Sports Center)
OWENSMOUTH AVENUE ERWIN STREET WARNER CENTER • CA
38 39 3
NORTHROP GRUMMAN SITE 5 A 1.27 million-square-foot development plan that would bring 1 566 independent living units to Warner Center. 6636 VARIEL AVE WARNER CENTER 2035 A new seven-story residential project CARILLON APARTMENT HOMES CANOGA AVENUE with 271 apartments above a parking structure. A class A, 264-unit multifamily property in Woodland Hills, has sold 9 for $93 million or $352,272 per unit. 1 $93 MILLION 264 UNIT MULTIFAMILY COMPLEX UPTOWN AT WARNER CENTER $4 billion mixed-use development Location: 6301 De Soto Avenue 7
MG Properties Group - October 2018 21031 WARNER CENTER LN A planned 24-acre complex in Warner Center could bring about 1,000 apartments and condos, a 24-story hotel, and a trio of 15-story 2 389 UNIT MULTIFAMILY COMPLEX 4 office buildings Location: 21200 Oxnard Street WARNER TRIANA APARTMENT VANOWEN STREET Bolour and Associates - December 2018 A 362-unit residential complex in the TOPANGA CANYON BOULEVARD Warner Center. CENTER 8 3 1.27-MILLION SQ.FT. MIXED-USE (OFFICE & SINGLE UNITS) CALIFORNIA HOME BUILDERS SITE A combined 588 units of housing and 66,000 square feet of commercial Location: 21240 W Burbank Boulevard space. +RESTAURANT +HOTEL Northrop Grumman - December 2018 2035 2
4 $157 MILLION 263 UNIT MULTIFAMILY COMPLEX 21200 OXNARD ST +RESTAURANT A 52,581-square-foot, single-story Location: 6250 N. Canoga Avenue flex commercial building on 3 acres +SWIMMING POOL in Woodland Hills. +FITNESS CENTER LaSalle - July 2018
ERWIN STREET 5 $100 MILLION 394 UNIT MULTIFAMILY COMPLEX 7 $1 BILLION MIXED-USE (RESIDENTIAL, OFFICE, & RETAIL) OXNARD STREET
+ 228 HOTEL ROOMS Location: 6636 Variel Avenue Location: 21031 Warner Center Lane VICTORY BOULEVARD + 1.25 MILLION SQ.FT OFFICE, 6 Hanover Company - June 2018 RETAIL, AND RESTAURANT. Adler Realty Investments - April 2018 OWENSMOUTH AVENUE
($1.5 billion capital infusion - 1,400 6 $1.5 BILLION 1,400 HOUSING UNITS, TWO HOTEL residential units, 2 hotels, 864,000 SF 8 352 UNIT, 25,000 SQ.FT. OFFICE, & 13,000 SQ.FT. RETAIL Class A office & retail, Entertainment and Sports Center) +1 ACRE PUBLIC SQUARE Location: 6100 Topanga Cannyon Blvd Location: De Soto Avenue & Erwin Street + PARKS, COURTYARDS Developer Westfield California Home Builders - November 2017
40 41 WESTFIELD PROMENADE 2035
$1.5 BILLION CAPITAL INFUSION PROJECT SUMMARY Westfield's new mixed use complex set to replace the aging Promenade shopping mall in Woodland • 1,400 residential units Hills. Now, the Australian developer has released new details about the project, which will bring • 272-room hotel and 300-room hotel 1,400 units of housing and two hotels to Warner Center. • 150,000 square feet of creative office space • 470,000 SF of Class A office The redevelopment is part of a wave of projects spurred by the new Warner Center 2035 plan, which • 244,000 SF of retail was designed to reinvent the western Valley’s downtown as a more urban live-work community. • 15,000 seat Entertainment & Sports Center y More than seven acres of open space including: two acres of open space at ground level with approximately 500 trees and more than 100 of those trees along street frontage; along with approximately five acres of elevated open space featuring rooftop gardens and landscaping ECONOMIC BENEFITS atop nearly every building. Promenade 2035 represents an anticipated $1.5 billion y A lush and green Promenade Square will serve as the heart of the neighborhood, a gathering place to relax and will play host to a range of community activities. Pocket parks, public spaces long term investment in the valley as well as courtyards, called the Gardens, will also offer more intimate gathering spaces. DURING CONSTRUCTION: y Residential opportunities range from work/live studios to one, two and three bedroom apartments and luxury villas with appeal for artists, up-and-coming executives, young • Creates more than 12,500 full and part-time jobs families or empty nesters – all with easy access to a lifestyle designed to cater to every need. • Generates nearly $2 billion in total economic output. (Approximately 1,400 residential units) y Class A office space that brings work and home together in unique and diverse ways with shopping, dining and entertainment just steps away where cars are not needed and commutes AT FULL COMPLETION: are walking distance. (Approximately 470,000 square feet) • Creates more than 7,900 full and part-time jobs. y Smaller, more localized retail opportunities, services and dining experiences along with a • Generates an estimated $1.6 billion in economic community grocery/pharmacy will compliment The Village and Westfield Topanga offerings. output (Approximately 244,000 square feet) • Generates nearly $12 million in net new annual y A versatile Entertainment and Sports Center will accommodate 15,000 with flexible seating revenue to the City’s General Fund that could adapt for more intimate events and gatherings such as professional, youth and community sports as well as live music, performing arts and speaker series.
42 43 UPTOWN AT WARNER CENTER 7227 OWENSMOUTH AVE
$4.0 BILLION CAPITAL INFUSION
Uptown at Warner Center is a one-of-a-kind development opportunity consisting of nearly 47 acres located in the mature market of Warner Center in the San Fernando Valley, surrounded by the third largest shopping center in the United States (Westfield Topanga, The Village at Westfield Topanga, and Westfield Promenade 2035), numerous high profile office projects, and residential developments. The development will produce a state of the art “Live/Work/Play” environment that will be a walkable community featuring a combination of residential and commercial uses including retail, office, hotel, research & development, assisted living and community center space surrounding a 5 acre open park. It will be the San Fernando Valley’s most desirable, sustainable destination with expedient access to every convenience including numerous shopping, dining, and public transportation options. PROPOSED PROJECT SUMMARY
Class A Office 1,130,000 Residential 3,950,000 Assisted Living 240,000 Retail 200,000 Cultural/Public/Education 310,000 Hotel 155,000 Site Central Plants 50,000 TOTAL 6,035,000
Projected Hotel Room Total 210 Rooms Projected Residential Units Total 3,950 Units Projected Assisted Living Units Total 330 Units Parking Total 10,030 Spaces
TOTAL DEVELOPMENT SITE AREA 2,037,929 SF
44 45 SHOPPING & RETAIL
WESTFIELD TOPANGA Westfield Topanga and the brand new The Village at Westfield Topanga is one of Southern California’s largest shopping complexes. Westfield Topagna is the only center in the United States with a Neiman Marcus and flagship Nordstrom alongside Target, and is a power shopping paradise with a luxury lineup including Gucci, Tiffany & Co., Salvatore Ferragamo, Louis Vuitton, Cartier, Burberry, Jimmy Choo alongside Apple, Tesla, Tory Burch, Anthropologie, Free People, OMEGA, Splendid, Urban Outfitters and Lacoste.
THE VILLAGE AT WESTFIELD TOPANGA The Village showcases trendy local fashion and lifestyle brands, sensational restaurants offering al fresco patio dining, a full-service gym, spa and yoga studio, along with Costco, Crate & Barrel, a weekly farmer’s market and more, all under a canopy of native trees and vegetation. With a combined square footage of over 2.5 million, Westfield offers the retail consumer a laundry list of high-end retailers and restaurant choices. It has transformed into a central gathering THE VILLAGE SHOWCASES TRENDY LOCAL place for shopping, dining, entertainment and leisure and provides local residents and visitors a destination experience unlike any other in the San Fernando Valley. FASHION AND LIFESTYLE BRANDS, SENSATIONAL
VENTURA BOULEVARD RESTAURANTS OFFERING AL FRESCO PATIO DINING, Ventura Boulevard is one of the primary east–west thoroughfares in the San Fernando Valley. A FULL-SERVICE GYM, SPA AND YOGA STUDIO, Running 18 miles, Ventura Boulevard is the world's longest avenue of contiguous businesses. It has always been a concentrated location for mom and pop shops and small businesses in the ALONG WITH COSTCO, CRATE & BARREL, A WEEKLY Valley; nowadays it has pockets of housing, mini-malls, and shops, along with a wide assortment of businesses, schools, and other establishments. Homes south of Ventura are considered to be FARMER’S MARKET AND MORE, ALL UNDER A among the most expensive in Los Angeles County, ranging from $2 million to $50 million and CANOPY OF NATIVE TREES AND VEGETATION. home to numerous celebrities, executives, athletes, and entertainers alike.
46 47 DEMOPGRAPHICS 7227 OWENSMOUTH AVE
1 MILE 3 MILES 5 MILES 42,755 2020 Population 40,311 226,516 439,320 2020 Households 12,811 78,489 151,536 Total Population of Canoga Park , CA. The median age is 35. 2020 Average Household Size 3.10 2.80 2.80 439,320 26,063 51% 49% 2020 Median Household Income $62,588 $75,681 $79,759 Population Businesses within 5-m radius within 5-m radius EDUCATION MALE FEMALE 2020 Average Household Income $78,447 $98,317 $104,734
2020 Owner Occupied Housing 8,497 38,900 67,506 Units 2020 Renter Occupied Housing 4,314 39,589 84,030 Units
<$25,000 2,214 11,975 23,032 $104,734 $79,759 Average HH income Median HH income Some High School Some College Associate Degree Graduate Degree $25,000 - $50,000 3,006 13,713 25,098 within 1-m radius within 1-m radius 25.13% 17.29% 5.04% 12.19% $50,000 - $75,000 2,166 13,276 23,953 $75,000 - $100,000 1,841 10,293 19,356
$100,000 - $125,000 1,351 8,789 16,863
$125,000 - $150,000 964 6,031 11,221 $150,000 - $200,000 805 7,199 14,331 67,506 84,030 Owner Occupied Households $200,000+ 464 7,213 17,682 Renter Occupied Households within 5-m radius within 5-m radius
48 49 BRANDON MICHAELS GROUP SOUTHERN CALIFORNIA'S PREMIER SALES TEAM WARNER CENTER TOWERS (1.9 Million SF Office Towers)
VENTURA FWY
($1.5 billion capital infusion - 1,400 residential units, 2 hotels, 864,000 SF Class A office & retail, Entertainment and Sports Center) UPTOWN AT WARNER CENTER $4 billion mixed-use development
OWENSMOUTH AVE SHERMAN WAY
Situated in a QUALIFIED OPPORTUNITY ZONE BRANDON MICHAELS STEVEN SCHECHTER Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group Director, National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2793 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #01089464 7227 OWENSMOUTH AVE . CANOGA PARK, CA 91303 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com