1048 S Los Angeles Street Is Located Less Than Three Miles from the Ferrante, a Massive 1,500-Unit Construction Project, Scheduled for Completion in 2021

Home , 777 Tower, Downtown Los Angeles, Los Angeles Street, South Los Angeles

OFFERING MEMORANDUM

A Signalized Corner Mixed-Use Retail and Office Property Ideally located in the heart of Downtown Los Angeles in the Iconic Fashion District brandonmichaelsgroup.com

INVESTMENT ADVISORS

Brandon Michaels Senior Managing Director of Investments Senior Director, National Retail Group Tel: 818.212-2794 [email protected] CA License: 01434685

Matthew Luchs First Vice President Investments COO of The Brandon Michaels Group Tel: 818.212.2727 [email protected] CA License: 01948233

Ben Brownstein Senior Investment Associate National Retail Group National Industrial Properties Group Tel: 818.212.2812 [email protected] CA License: 02012808 Contents 04 Executive Summary 10 Property Overview 16 Area Overview 28 FINANCIAL ANALYSIS Executive Summary

4 1048 S. Los Angeles St The Offering A Signalized Corner Mixed-Use Retail and Office Property Ideally located in the heart of Downtown Los Angeles in the Iconic Fashion District The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively represent for sale 1048 South Los Angeles Street, a two-story multi-tenant mixed-use retail and office property ideally located on the Northeast signalized corner of Los Angeles Street and East 11th Street. The property is comprised of 15 rental units, with eight retail units on the ground floor, and seven office units on the second story. 1048 South Los Angeles Street is to undergo a $170 million renovation. currently 86% occupied. Three units are The property is located in the heart of vacant, one of which is on the ground the iconic fashion district of Downtown floor, and two of which are on the Los Angeles, which is home to over second story. All of the occupied units 2,000 independently owned wholesale are on month-to-month leases, with and retail businesses and spans 100 one exception which is set to expire blocks in Downtown Los Angeles. The in September of 2021. This creates an subject property is ideally located excellent opportunity for an owner- less than one mile from the STAPLES user to occupy a portion or all of the Center, Los Angeles Convention property for their own use, or for an Center, and LA Live. investor to stabilize the property. 1048 South Los Angeles Street will 1048 South Los Angeles Street is benefit from the DTLA 2040 Plan, located less than one mile from which will encourage development Santee Alley, which features the throughout the community. The DTLA largest selection of fabrics throughout 2040 Plan which will increase jobs, Southern California, and is located less housing, transportation, open space, than one mile from the Los Angeles and amenities, adding 125,000 new Flower Market, the largest flower residents, 70,000 new housing units, market in the United States, which is set and 55,000 new jobs. Executive Summary 5 investment highlights

EXCELLENT DOWNTOWN LOS ANGELES FASHION DISTRICT LOCATION • Ideally located within the Los Angeles Fashion District which features over 4,000 independently owned retailers and wholesalers

• Less than one mile from the STAPLES Center, LA Live, and the Los Angeles Convention Center

• Located less than half of a mile from “Santee Alley”

• Located within close proximity to a number of new developments and substantial renovation projects

PRIME FASHION DISTRICT SIGNALIZED CORNER LOCATION • NE signalized corner of Los Angeles Street and 11th Street

• 86% current occupancy

• The combination of 14% current vacancy and month to month leases allows an owner-user to occupy a portion or all of the existing building

• Vacancies and short-term leases create an excellent opportunity for a value-add investor to stabilize the property 6 1048 S. Los Angeles St investment highlights

SIGNIFICANT DEVELOPMENT IN THE IMMEDIATE AREA WITHIN THE BOUNDARIES OF THE DTLA 2040 PLAN • Less than one half mile from “The Intersection” at Los Angeles and 9th Streets, which is home to a number of contemporary showrooms which bring in nearly 1.5 million visitors to the area each year

• Located within close proximity to a number of new developments, including the proposed $170 million redevelopment of the Southern California Flower Market, and proposed $170 million dollar renovation of the California Market Center

• DTLA 2040 Plan will rejuvenate the community as the strongest market of Southern California once again

• The DTLA 2040 Plan which will increase jobs, housing, transportation, open space, and amenities, adding 125,000 new residents, 70,000 new housing units, and 55,000 new jobs

• Located in the “Transit Core” of the Community Plan will allow for long-term upside due to a significant emphasis on community growth

STRONG UNDERLYING DEMOGRAPHICS AND DENSE IMMEDIATE POPULATION • Over 49,900 people are located within one mile of the property, 546,600 within three miles of the property, and 1,273,200 within five miles of the property.

• There are over 24,800 households within one mile of the property, 175,200 within three miles of the property, and 394,300 within five miles of the property.

• Average household income is over $87,700 within one mile of the property, $57,500 within three miles of the property, and $63,000 within five miles of the property.

Executive Summary 7 < 3 Miles

Ferrante Apartments 1,150 Residential Units

Tower

< 1 Mile

S. Main St

S. Los Angeles St 8 1048 S. Los Angeles St < 1 Miles

$170 Million Renovation

Tower

$170 Million Renovation

Santee St

W. Olympic Blvd

E. 11th St

S. Los Angeles St Property Overview 9 property summary

Address 1048 S. Los Angeles St Los Angeles, CA 90015 Price $5,500,000

Property Type Mixed Use; Retail and Office

Building Size 15,229 Lot Size 7,814

Price per SF (Bldg) $361

Price per SF (Lot) $704

Rent Per SF $1.59 Per Month Ground Floor: 8,443 SF Second Story: 5,902 SF Year Built / Renovated 1922 / 2009

Occupancy 86%

APN 5145-020-005

Zoning M2-2D

Specific Plan DTLA 2040 Plan

Type of Ownership Fee Simple

10 1048 S. Los Angeles St Property Overview 11 Property Overview

12 1048 S. Los Angeles St property description

LOCATION 1048 S. Los Angeles St Los Angeles, CA 90015

SITE The property is located on the Northeast signalized intersection of Los Angeles Street and East 11th Street

BUILDING SIZE 15,229 SF

LOT SIZE 7,814 SF

UNITS 8 Retail Units, Ground Floor 7 Office Units, Second Floor

PARKING None

APN # 5145-020-005

ZONING M2-2D; Light Manufacturing

FRONTAGE 140’ on East 11th Street 55’ on S. Los Angeles Street

TRAFFIC COUNT Over 15,000 Vehicles Per Day Property Overview 13 Property/Area PHOTOS

14 1048 S. Los Angeles St Property Overview 15 15

6 8 14 5 13 7 11 12

4 3 2 1

10 STAPLES CENTER L.A. LIVE

S MAIN ST

E 12TH ST

S LOS ANGELES ST

E PICO BLVD

16 1048 S. Los Angeles St 18 19 17 21 1 1 WREN Apartments 16 20 22 OLiVE DTLA Apartments

22 33 GL Apartments

44 E On Grand Apartments

55 Circa LA Apartments 23 66 1101-1199 S Flower St - Ocean Wide Plaza

7 7 1212 S Flower St - Hope + Flower

88 USC Stevens Center for Innovation

99 1149 S. Hill Street - South Park Center

E 11TH ST 1010 Axis Apartments

1111 717 Olympic

1212 APEX Apartments

1313 TCW Tower E 12TH ST 1414 777 Tower

1515 InterContinental Los Angeles

S LOS ANGELES ST 1616 City National Bank

1717 Aon

1818 U.S. Bank Tower

1919 Bank of America Plaza

2020 Deloitte

2121 Two California Plaza

2222 Millennium Biltmore Hotel Los Angeles

E PICO BLVD 2323 California Market Center SANTEE ST Property Overview 17 Property Floor Plans

18 1048 S. Los Angeles St Property Overview 19 AREA Overview

20 1048 S. Los Angeles St Los Angeles, California

The Los Angeles Fashion District, which 1048 South Los Angeles Street is located Street to the North, as defined by the features over 4,000 independently in the heart of Downtown Los Angeles Downtown Los Angeles Neighborhood in the iconic Fashion District. The Council. owned and operated retail and wholesale fashion district is home to over 4,000 businesses, is located within the independently owned and operated retail Along with the current developments in boundaries of the DTLA 2040 Plan which and wholesale businesses, the largest the area, the entire Downtown Community will increase jobs, housing, transportation, flower market in the United States, and will benefit from the DTLA 2040 Plan. open space, and amenities, adding 125,000 the largest selection of textiles and The future vision for the community will new residents, 70,000 new housing units, notions in the United States. The district increase jobs, housing, transportation, open space and amenities. The goal by and 55,000 new jobs boasts 56 galleries and art studios, 8 co- working & shared creative spaces, and 2040 is to add approximately 125,000 over 175 design studios. new residents, 70,000 new housing units, and 55,000 new jobs. This growth plan The Los Angeles Fashion District is will help reinforce Downtown as the bordered by Main street to the West, primary jobs center of Southern California Washington Boulevard to the South, the and allow retail, office, and industrial to Los Angeles River to the East, and 7th continue to grow and thrive.

Area Overview 21 The Los Angeles Fashion District spans 100 blocks, with more than 2,000 stores and warehouses selling fashions and accessories at 30% to 70% off retail prices.

SPANNING 100 BLOCKS IN THE HEART OF DOWNTOWN The LA Fashion District is one of the top approximately 70% of the Fashion District destinations for wholesale buyers, retail and is available to the trade-only buyers. It is shoppers, fashion students, designers and an essential destination for buyers, retailers, Los Angeles stylists. The Fashion District is wholesalers and designers to create a comprised of 100 blocks of independently- synergistic area for the fashion scene. owned businesses and showrooms which The neighborhood is rapidly increasing includes the Fabric District, Flower District as a residential area and a home to the and Santee Alley. growing number of commercial tenants. The district contains contemporary The adaptive reuse conversions of historic showrooms and other retail shopping which buildings are continuing to pop up with are available to the public. There are over over 700 housing units in the District, which 1,000 stores that sell goods at a wholesale will bring a new element to the well-known discounted price to its consumers. apparel area. The wholesale business comprises of

22 1048 S. Los Angeles St Downtown Los Angeles

Area Overview 23 LOCATION OVERVIEW

1048 S Los Angeles Street is located less than three miles from the Ferrante, a massive 1,500-unit construction project, scheduled for completion in 2021. The project is rising from the site of a former data center, and is set to be seven stories and contain 30,000 square feet of retail space. The developer, G.H Palmer Associates, is inundating the project with amenities such as a karaoke room, large gym, library, indoor tennis court, and an indoor basketball court.

The Los Angeles Fashion District is home to a number of THE SANTEE ALLEY substantial new developments. 1157 S Los Angeles Street is located less than one mile from a proposed $170 million redevelopment of the Southern California Flower Market. The southern building would be demolished to make room for a 15-story building with 323 residential units, 64,000 square feet of office space, 64,000 square feet of wholesale space, and approximately 10,000 square feet of event space. Less than one half mile from the subject property, the district’s California Market Center is set to undergo a $170 million renovation, with the goal to attract big-name tenants who have otherwise been flocking to Culver City and Playa Vista. Less than one half mile from the subject property, at 11th and Main Streets, the Los Angeles City Council has approved an eight-story building which would bring 379 apartment units, and 26,000 square feet of retail and office space on the ground floor. THE ORIGINAL LOS ANGELES FLOWER MARKET The property benefits from excellent demographics within the immediate DEMOGRAPHIC WITHIN A 1, 3, 5 MILE OF PROPERTY sub-market, with over 49,900 people located within one mile of the property, 546,600 within three miles of the property, and 1,273,200 within five miles of 1-MILE 3-MILE 5-MILE the property. There are over 24,800 households within one mile of the property, Population 49,900 546,600 1,273,200 175,200 within three miles of the property, and 394,300 within five miles of the property. Average household income is over $87,700 within one mile of the Total Households 24,800 175,200 394,300 property, $57,500 within three miles of the property, and $63,000 within five miles Avg HH Income $87,700 $57,500 $63,000 of the property.

24 1048 S. Los Angeles St S. Los Angeles St

E. 11th St

Area Overview 25 LOCATION Downtown LA

DESIGNER Brooks + Scarpa

PROJECT COST $170 Million

RESIDENTIAL 323 Units

The proposed development, slated for a nearly four-acre property bounded by 7th Street, Wall OFFICE SPACE Street, and Maple Avenue, would replace a portion of the existing Flower Market. 64,363 SF

SOUTHERN CALIFORNIA FLOWER MART LOS ANGELES, CALIFORNIA WHOLESALE The current space is a bustling marketplace where vendors continue their sales operations, plus parking and office 63,785 SF sell flowers wholesale and retail, mainly in the early space above that. Amenities, including a public event morning hours and consists of two two-story buildings space, will be located on top of the renovated building’s on a nearly four-acre site. Having been at the current parking space. RETAIL SPACE location for almost 100 years, the Flower Market’s owners Dwelling units consist of traditional loft-style design with 4,385 SF have embarked on a redevelopment and addition to their open floor plans and flats; all units have views towards the physical plant which entails the adaptive reuse of one city to the north and south. The exterior of the structure building and the addition of new parking, commercial is skinned in a corrugated aluminum screen which will be EVENT SPACE space and 323 dwelling units in a 15-story concrete frame anodized bright colors, honoring the beauty of the flower 21,295 SF residential tower. itself and will create a beacon for this part of the city. The Next to the residential tower, the upgraded market building renovated concrete building will be covered in flower- would have space at street level for flower vendors to themed murals and be both performative and beautiful.

26 1048 S. Los Angeles St 7 Development Pipeline Map 9 1 Subject Property

Recently Completed

In Development

5 11 10 8

2 6 3 14 4 13 12

DEVELOPMENT PROJECTS CURRENTLY UNDER CONSTRUCTION PROPERTY NAME DEVELOPER UNITS STORIES START YEAR FINISH YEAR

1 1100 West Temple Street 1100 W Temple St, Los Angeles, CA 90012 LaTerra Development 54 8 2019 2021 2 1133 Hope 1133 S Hope St, Los Angeles, CA 90015 Z&L Properties 208 28 2017 2020 3 1317 South Hope Street 1317 S Hope St, Los Angeles, CA 90015 FMB Development 38 6 2017 2021 4 1400 Fig 1400 S Figueroa St, Los Angeles, CA 90015 DHG Family Trust 106 7 2016 2020 5 1501 West 8th Street 1501 W 8th St, Los Angeles, CA 90017 4Site Real Estate 60 5 2020 2022 6 520 Mateo Street 520 Mateo St, Los Angeles, CA 90013 Carmel Partners 475 35 2019 2022 7 708 New Depot Street 708 New Depot St, Los Angeles, CA 90012 33 6 2020 2021 8 7th at Hill 404 W 7th St, Los Angeles, CA 90014 Bonnis Properties 125 13 2018 2021 9 849 North Bunker Hill Avenue 849 N Bunker Hill Ave, Los Angeles, CA 90012 37 5 2018 2021 10 8th & Figueroa 732 S Figueroa St, Los Angeles, CA 90017 Mitsui Fudosan America 438 42 2020 2023 11 960 West 7th Street 960 W 7th St, Los Angeles, CA 90017 Brookfield Properties 784 56 2019 2022 12 AMP Lofts 695 S Santa Fe Ave, Los Angeles, CA 90021 Greystar 320 7 2017 2020 13 AVA Arts District 668 S Alameda St, Los Angeles, CA 90021 AvalonBay Communities 475 7 2020 2023 14 Camden Art District 1525 Industrial St, Los Angeles, CA 90021 Camden Property Trust 344 7 2020 2022 AVERAGE 250 17 - -

Area Overview 27 DOWNTOWN LOS ANGELES DEMOGRAPHICS

MEDIAN AGE DOWNTOWN LA’S TOTAL POPULATION 34 47% 53% 85,000 MALE FEMALE

EDUCATION

High24% School Some22% College Associates9% Degree Bachelor’s21% Degree

28 1048 S. Los Angeles St TOP EMPLOYMENT BY INDUSTRIES BUSINESSES DTLA is a node in the tech economy that extends beyond Silicon Beach. A venture capital firm counted 78 tech-oriented firms in DTLA in 2015. This included mobile apps, hardware, digital media and clean-tech Elementary & Secondary Individual & Family companies plus co-working spaces, start-up incubators, Schools Hospitals Services and other related businesses. 23.5% 12% 9.98%

Other Health Care Colleges & Universities Services 8.68% 5.7%

Area Overview 29 DEMOGRAPHICS BY RADIUS

$67,374 1,289,176 394,349 Average HH income Population Households within a 5-mile radius within a 5-mile radius within a 5-mile radius

83,435 311,461 58,794 Owner Occupied Housing Renter Occupied Housing Businesses within a 5-mile radius within 5-mile radius within a 5-mile radius

1-MILE 3-MILE 5-MILE 2020 Population 45,837 534,715 1,289,176 2020 Households 24,876 175,222 394,349 2020 Average Household Size 1.7 2.9 3.0 Annual Population Growth 2020-2025 6.45% 3.04% 2.33% 2020 Median Age 38.6 32.4 33.2 2020 Owner Occupied Households 3,180 21,984 83,435 2020 Renter Occupied Households 23,094 155,756 311,461 2020 Average Household Income $88,960 $60,872 $67,374 2020 Median Household Income $48,150 $39,534 $44,334 Businesses 13,790 33,781 58,794

30 1048 S. Los Angeles St CONFIDENTIALITY AND DISCLAIMER The information contained in the preceding marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving 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, unverifi ed information 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 a 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 contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial 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 believe 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.

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 presence 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 & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. © 2021 Marcus & Millichap. All rights reserved.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE LISTING AGENTS FOR MORE DETAILS.

Area Overview 31 FINANCIAL ANALYSIS RENT ROLL

TENANT SF MEZZ SF TOTAL SF SF % LEASE EXP RENT RENT/SF PF RENT PF RENT/SF Chan's Blankets 508 508 4% MTM $2,000.00 $3.94 $2,000.00 $3.94 Chan's Blankets 1,595 1,595 11% MTM $4,250.00 $2.66 $4,250.00 $2.66 Umbrellas 600 600 4% MTM $1,300.00 $2.17 $1,300.00 $2.17 Chan's Blankets 1,222 400 1,622 11% MTM $3,000.00 $2.45 $3,950.00 $3.23 Energy Reset 988 200 1,188 8% Sep-21 $2,500.00 $2.53 $3,200.00 $3.24 Panda Boy Ink 916 916 6% MTM $2,000.00 $2.18 $3,200.00 $3.49 VACANT 1,008 200 1,208 8% $0.00 $2,300.00 $2.28 Tom's Tailor 806 806 6% MTM $1,600.00 $1.99 $2,100.00 $2.61 Jen's Pirates Bootie 1,824 1,824 13% MTM $2,100.00 $1.15 $2,100.00 $1.15 Jen's Pirates Bootie 1,021 1,021 7% MTM $1,200.00 $1.18 $1,200.00 $1.18 Jona's 912 912 6% MTM $1,100.00 $1.21 $1,100.00 $1.21 VACANT 751 751 5% $0.00 $800.00 $1.07 Beatrice Prado 744 744 5% MTM $995.00 $1.34 $995.00 $1.34 Marina 490 490 3% MTM $800.00 $1.63 $800.00 $1.63 VACANT 160 160 1% $0.00 $325.00 $2.03 TOTAL 13,545 14,345 100% $22,845.00 $1.59 $29,620.00 $2.06

ANNUALIZED OPERATING DATA INCOME AND EXPENSE CURRENT PRO FORMA EXPENSE BREAKDOWN PER YEAR PER SF Scheduled Lease Income $274,140 $355,440 Taxes @1.25% $68,750 $4.51 NNN Charges $0 $0 Maintence & Repairs $6,000 $0.39 Effective Gross Income $274,140 $355,440 Trash Disposal $3,200 $0.21 Vacancy 5% 5% $17,772 Insurance $8,710 $0.57 Expenses* $103,326 $103,326 Management $10,966 $0.72 Net Operating Income $170,814 $234,342 Elevator Maintenance $2,700 $0.18 Water/CAM UTL $3,000 $0.20 TOTAL $103,326 $6.78 / $0.57

32 1048 S. Los Angeles St PRICING

Address 1048 S. Los Angeles St Los Angeles, CA 90015 Price $5,500,000 Building Size 15,229 Price per SF (Bldg) $361 Lot Size 7,814 Price per SF (Lot) $704 CAP Rate 3.11% Pro Forma CAP Rate 4.26% Monthly Rent $22,845 Annual Rent $274,140 Rent Per SF $1.59 Per Month Ground Floor: 8,443 SF Second Story: 5,902 SF NOI $170,814 Occupancy 86% Year Built / Renovated 1922 / 2009 APN 5145-020-005 Zoning M2-2D Specific Plan DTLA 2040 Plan Type of Ownership Fee Simple

Financial Analysis 33 rent comparables - EXECUTED LEASES

ADDRESS RENTABLE SF RENT/SF/MON RENT/SF/YR LEASE TYPE LEASE START

312 E 12th St 1 672 $5.80 $69.60 MG Apr-21 Los Angeles, CA 90015

1001 S Maple Ave 2 675 $5.33 $63.96 MG Aug-20 Los Angeles, CA 90015

1100 S San Pedro 3 1,500 $5.33 $63.96 MG Feb-20 Los Angeles, CA 90015

732 E 10th St 4 1,160 $4.35 $52.20 N Apr-20 Los Angeles, CA 90015

305 E 9th St 5 928 $4.09 $49.08 MG Mar-20 Los Angeles, CA 90015

908 Santee St 6 1,400 $3.75 $45.00 MG Mar-20 Los Angeles, CA 90015

1301 S Main St 7 420 $3.71 $44.52 MG Feb-20 Los Angeles, CA 90015

1301 S Main St 220 $3.29 $39.48 MG Oct-20 Los Angeles, CA 90015

800-817 Maple Ave 8 960 $3.65 $43.80 NNN Mar-20 Los Angeles, CA 90015

808 Wall St 9 1,000 $3.00 $36.00 MG Oct-20 Los Angeles, CA 90015

AVERAGE 894 $4.23 $50.76 - -

34 1048 S. Los Angeles St RENT COMPARABLES | RENT/SF/MON

8 5 6 9

7 1 4 3

COMPARABLES ANALYSIS 35 rent comparables - available for lease

ADDRESS AVAILABLE SF RENT/SF/MON RENT/SF/YR LEASE TYPE

214-228 E 11th St - El 1 Santee Building 1,400 $3.00 $36.00 MG Los Angeles, CA 90015

110 W 11th St - Harris 2 Building 6,341 $4.00 $48.00 MG Los Angeles, CA 90015

1031 S Broadway - The 3 Western Pacific 2,921 $2.45 $29.40 MG Los Angeles, CA 90015

1051 S Broadway 4 3,800 $4.00 $48.00 NNN Los Angeles, CA 90015

1053-1065 S Broadway 5 1,365 $3.40 $40.80 NNN Los Angeles, CA 90015

1111 S Broadway - The 6 Herald Examiner Bldg 3,221 $3.20 $38.40 MG Los Angeles, CA 90015

1155-1159 S Los Angeles St 7 850 $2.90 $34.80 MG Los Angeles, CA 90015

210 E Olympic Blvd 8 1,055 $4.03 $48.36 NNN Los Angeles, CA 90015

1035 Santee St 9 1,200 $2.50 $30.00 MG Los Angeles, CA 90015

AVERAGE 2,461 $3.28 $39.31 -

36 1048 S. Los Angeles St RENT COMPARABLES | RENT/SF/MON

3 4 5

6 2 8

9 1

COMPARABLES ANALYSIS 37 brandonmichaelsgroup.com

INVESTMENT ADVISORS

Brandon Michaels Senior Managing Director of Investments Senior Director, National Retail Group Tel: 818.212-2794 [email protected] CA License: 01434685

Matthew Luchs First Vice President Investments COO of The Brandon Michaels Group Tel: 818.212.2727 [email protected] CA License: 01948233

Ben Brownstein Senior Investment Associate National Retail Group National Industrial Properties Group Tel: 818.212.2812 [email protected] CA License: 02012808