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Prime Culver City Signalized Corner Value-Add Street Retail 12118-12130 W SOUTHERN CALIFORNIA'S PREMIER SALES TEAM 12118-12130 PRIME CULVER CITY SIGNALIZED CORNER VALUE-ADD STREET RETAIL 12118-12130 W. Washington Boulevard, Los Angeles, CA 90066 WITH SIGNIFICANT DEVELOPMENT POTENTIAL INVESTMENT ADVISORS BRANDON MICHAELS ANDREW LEFF Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group Director, National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2815 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #01865688 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com TEAM MEMBERS Website Sean Brandt www.brandonmichaelsgroup.com Vaughn Brown Ben Brownstein Instagram Nicole Cottrell @brandonmichaelsgroup Matthew Norona Steven Schechter Austin Sreden 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 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, unverified 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & 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 presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corpora- tion 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. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. SOUTHERN CALIFORNIA'S PREMIER SALES TEAM TABLE OF CONTENTS PROPERTY OVERVIEW 01 FINANCIAL ANALYSIS 02 COMPARABLES ANALYSIS 03 AREA OVERVIEW 04 01 PROPERTY OVERVIEW REDONDO BEACH MANHATTAN LOS ANGELES BEACH INTERNATIONAL AIRPORT PLAYA DEL REY LOYOLA MARYMOUNT UNIVERSITY WESTCHESTER MARINA DEL REY MIDDLE SCHOOL MARINA FWY DEL REY CULVER BLVD S CENTINELA AVE 12118-12130 CULVER BLVD 12118-12130 W. Washington Boulevard, Los Angeles, CA 90066 CYPRESS GROVE CULVER CITY MARKET HALL 30,000 square feet of Class A retail and restaurant space on 1.6 Acres of Land W WASHINGTON BLVD MARINA DEL REY VENICE LINCOLN BLVD VENICE HIGH SCHOOL W WASHINGTON BLVD WASHINGTON PL CULVER CITY WEST • CA 12118-12130 PRIME CULVER CITY SIGNALIZED CORNER VALUE-ADD STREET RETAIL WITH SIGNIFICANT DEVELOPMENT POTENTIAL 12118-12130 W. Washington Boulevard, Los Angeles, CA 90066 The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 12118-12130 Washington Boulevard, a unique opportunity to acquire a prime West Los Angeles signalized corner with significant development potential in Culver City. The subject property is located on the southeast signalized corner of Washington Boulevard and Grandview Boulevard, ideally situated at the gateway to Marina Del Rey and Venice. This centralized Culver City site is one of the best locations in West Los Angeles, just minutes from the 405 Freeway, Mar Vista, Playa Vista, Marina Del Rey, and Santa Monica. 12118-12130 Washington Boulevard currently consists of 7,929 square feet of commercial improvements situated on 14,973 square feet of land. The property is fully occupied, however all of the existing tenants are operating on short-term or month-to-month leases, creating immediate flexibility either for an owner-user to occupy a portion of the space or an investor to stabilize the asset at market rents. 12118-12130 Washington Boulevard benefits from nearly 180 feet of frontage along Washington Boulevard and 150 feet of frontage along Grandview Boulevard. The site is dual zoned, with ~13,461 square feet falling within Culver City subject to CCC3 zoning, and ~1,514 square feet falling with Los Angeles and subject to LAR1 zoning (along the rear of the property adjacent to the alley) totaling 14,975 square-feet. The site is ideal for redevelopment incorporating multi-family, mixed-use, retail, or creative office, which will complement many of new and upcoming projects in the immediate area. The immediate area is experiencing tremendous growth and ongoing redevelopment, making this one of the strongest rental markets throughout Los Angeles. Some notable developments nearby include Culver Public Market, a ~26,000 square-foot retail/restaurant development with an outdoor plaza and a four-story parking garage (2 blocks west of the Subject Property at Washington and Centinela), and Pennylane, a mixed-use development including 97 apartment units above ~15,000 square-feet of ground floor commercial (2 blocks east of the Subject Property at Washington and Inglewood). 12118-12130 Washington Boulevard is being offered on an unpriced basis. * PLEASE DO NOT DISTURB TENANTS. SUNKIST PARK MARINA FWY 12118-12130 CYPRESS GROVE 12118-12130 W. Washington Boulevard, Los Angeles, CA 90066 S CENTINELA AVE GRAND VIEW AVE W WASHINGTON BLVD GRAND VIEW AVE CULVER CITY MARKET HALL 30,000 square feet of Class A retail and restaurant space on 1.6 Acres of Land S CENTINELA AVE 9 CULVER CITY, CA IS AN AFFLUENT, HIGH-DEMAND LOS ANGELES 12118-12130 COUNTY SUB-MARKET THAT HAS UNDERGONE TREMENDOUS GROWTH AND HAS BECOME A PRIME DESTINATION TO LIVE, WORK, DINE, AND SHOP 12118-12130 W. Washington Boulevard, Los Angeles, CA 90066 12118-12130 Washington Boulevard is ideally situated on the on the southeast signalized corner of Washington Boulevard and Grandview Boulevard. The subject property is surrounded by a strong mix of regional and national retailers, including In-N-Out Burger, Jack in the Box, Costco, Vons, Rite Aid, Little Caesars Pizza, Wingstop, Yard House, and Dunkin Donuts. There are multiple schools within close proximity, including Wildwood School, Grand View Boulevard Elementary, Beethoven Street Elementary, Mark Twain Middle School, and Venice High School. 12118-12130 Washington Boulevard is well located within a dense demographic location, with an immediate population of over 46,493 people within a one-mile radius, over 289,996 people within three miles, and upwards of 657,876 people within a five-mile radius. This location is a walker’s paradise, with a walk score of 85. This affluent West Los Angeles location boasts an average household income is $85,927 within a three-mile radius. West Los Angeles is a densely populated, highly desirable location for residents and visitors alike, with its urban and costal lifestyle, outdoor spaces, and unique restaurants and shopping. 12118-12130 Washington Boulevard is ideally located in Culver City at the gateway to Marina Del Rey and Venice, within close proximity to Century City, Westwood, Brentwood, Santa Monica, Bel Air, and Beverly Hills. The site is within close proximity to the 405 San Diego Freeway and the 90 Marina Freeway, with easy access to downtown Los Angeles, the San Fernando Valley, and Los Angeles International Airport. Since the 1920s, Culver City has been a significant center for motion picture and later television production, best known as the home of Metro-Goldwyn-Mayer studios. It was also the headquarters for the Hughes Aircraft Company from 1932 to 1985. National Public Radio West and Sony Pictures Entertainment now have headquarters in the city. The NFL Network studio is also based in Culver City. * PLEASE DO NOT DISTURB TENANTS. MAR VISTA HOUSES MARINA DEL REY W WASHINGTON BLVD WASHINGTON PL CULVER GARDEN 12118-12130 12118-12130 W. Washington Boulevard, Los Angeles, CA 90066 GRAND VIEW BLVD W WASHINGTON BLVD 11 LIMDBLADE DR INVESTMENT HIGHLIGHTS IRREPLACEABLE WEST LOS ANGELES PRIME VALUE-ADD OWNER-USER / LOCATION DEVELOPMENT OPPORTUNITY • SE signalized corner of Washington Boulevard and • 14,975 square-feet of land Grandview Boulevard • Ideal for mixed-use development • Direct access to the 405
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