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TARZANA CORNER 6026-6036 Reseda Blvd, Tarzana CA Rare Los TARZANA CORNER 6026-6036 Reseda Blvd, Tarzana CA Rare Los Angeles Transit-Oriented Development Project C2-Zoned Hard Corner Across From The Orange Line – Perfect Mixed-Use Opportunity SITE METRO Orange Line Parking Oxnard St Reseda Station Orange Line For Further Information Brian Hennessey Jeffrey Gould, CCIM, LEED AP DRONE VIDEO Senior Vice President Principal CLICK HERE Avison Young Lineage Asset Advisors 818.858.1830 818.737.1088 [email protected] [email protected] CA License No. 00481388 CA License No.01437048 Christopher Baer Armand Aghadjanians Reseda Blvd Principal Associate Avison Young Avison Young 818.858.1820 818.858.1822 [email protected] [email protected] CA License No. 00875482 CA License No. 01995659 Reseda Station Orange Line METRO Orange Line Parking Oxnard St SITE THE OFFERING Reseda Blvd TARZANA CORNER OFFERING MEMORANDUM DEMOGRAPHICS WARNER CENTER VENTURA BLVD. DEMOGRAPHICS 1 Mi 3 Mi COLUMBIA Population 39,615 205,370 COLLEGE HOLLYWOOD Households 15,543 71,237 Average Age 39.60 39.40 Median HH Income $58,294 $66,041 Daytime Employees 15,546 74,456 Pop. Growth '17-'22 3.5% 3.5% HH Growth '17-'22 3.3% 3.3% Reseda Station 4.25 Re-Development Project Orange Line +45k Daily Traffic Count +25k Daily Rider Count OFFERING MEMORANDUM 4 Amenities Map Reseda Station Food Retail/Lifestyle 1 Kentucky Fried Chicken 2 Anytime Fitness Orange Line 4 Subway 3 Citibank 32 6 IHOP 5 Chevron 7 Pete's Coffee 10 Sprint 8 Domino's 12 Wells Fargo 31 9 McDonald's 13 Chase 11 California Pizza Kitchen 17 AT&T Wirless 14 Whole Foods 18 Walgreens 15 Starbucks 19 7-Eleven 16 Chipotle 21 Mobil 20 Subway 22 Public Storage 23 The Coffee Bean & Tea Leaf 28 CVS 24 Winchell's Donuts 30 Bank of America 25 Taco Bell 31 ARCO 26 Starbucks 34 Hospital 27 Vons 29 Round Table 32 Wingstop 33 Gelson’s Market 2 3 4 8 9 7 34 1 6 5 10 20 21 12 19 22 11 13 33 14 15 16 17 24 23 27 18 28 26 25 29 30 OFFERING MEMORANDUM 5 EXECUTIVE SUMMARY The Opportunity Avison Young and Lineage Asset Advisors as owner’s center on the property with four retail tenants that offer More information on the TNP can be found within this exclusive agents are pleased to present Tarzana Corner a developer an existing income stream while they work brochure. for sale which is a rare infill transit-oriented development towards their entitlements. site located across from the Orange Line MTA Rapid The property is in close proximity to other major Bus Transit station - the third busiest transit station in The property also benefits from its location within the amenities along the Orange Line transit corridor the Valley. The property is situated on a hard signalized Transit Neighborhood Plan (TNP) area along the Orange including a new 4.25 acre creative office redevelopment corner and located in the highly dense market of Line. Within the Transit Neighborhood Plan the property on Oxnard Street. It is also just a few stops away from the Tarzana (City of Los Angeles). This incredible property is designated in the “Reseda Commercial Mixed-Use” Van Nuys station which just received approval to add a offers a developer an opportunity to redevelop a transit- area which is meant to encourage higher density light rail station moving north and south along Van Nuys oriented, C2 zoned property on +/- 23,286 square feet of mixed-use projects. The Transit Neighborhood Plan is Blvd corridor – a major win for the Valley. The property is land with two contiguous parcels. The property boasts a being implemented by the City of Los Angeles Planning also close to retail and business amenities along Ventura Walk Score of 75 which is only anticipated to get better Department to encourage building design and a mix of Blvd, has easy access to the 101 freeway, and near the with the neighborhood’s increasing focus on transit higher density uses that foster transit use for properties Providence Tarzana Medical Campus which is currently oriented redevelopment. that are in close proximity to the highest volume public undergoing a major $500M+ renovation. transit stations in LA. The TNP was established to the Located at 6026-6036 Reseda Blvd, Tarzana Corner vision for communities around the Reseda station and currently includes an 11,842 square foot retail strip is anticipated to be finalized in the next couple of years. Asking Price: $5,750,000 6026-6036 Reseda Blvd ADDRESS: Tarzana, CA SITE SUBMARKET: San Fernando Valley ASSESSOR PARCEL NUMBERS: 2157-001-153 & 2157-001-154 ZONING: C2-1VL LAND +/- 23,286 BUILDING SIZE +/- 11,842 OFFERING MEMORANDUM 6 EXECUTIVE SUMMARY Potential Site Opportunities • Mixed-Use Multifamily & Retail • Infill Development Projects • Transit Oriented Developments Reseda Blvd • Creative Office / Entertainment / Medical Office SITE Oxnard St Oxnard Parcel Map METRO Orange Line Parking METRO Orange Prime +/- 0.5 Acre Re-Development/ TOD Corner OFFERING MEMORANDUM 7 EXECUTIVE SUMMARY Property Highlights • Rare infill transit-oriented development site in Los Angeles • Hard signalized corner directly across from Reseda Orange Line Station – the third busiest station in the Valley • +/- 23,286 sf of land on two contiguous parcels • Zoned C-2 1VL • Existing 11,842 sf retail strip center on site offering existing income during entitlement phase • Located within “Reseda Commercial Mixed-Use” area of the transit neighborhood plan – focus on mixed-use & higher density development projects • The transit neighborhood plan is contemplating an update to the community plan and re- zone of the projects within the tnp • Walk score of 75 • New 4.25 acres redevelopment project occurring on the same block • Recent approval of Van Nuys Blvd Light rail station inevitable future light rail conversion along Orange Line • Close proximity to major amenities on Ventura Blvd and easy access to 101 freeway • Close proximity to $500m+ re-development of providence Tarzana Medical Campus OFFERING MEMORANDUM 8 Regional Map 9 AREA OVERVIEW TARZANA CORNER OFFERING MEMORANDUM AREA OVERVIEW Tarzana The area now known as Tarzana was occupied in 1797 by Spanish settlers and missionaries who established the San Fernando Mission. Later absorbed by Mexico, the land was ceded to the United States in 1848 by the Treaty of Guadalupe Hidalgo following the Mexican-American War. Under US rule it evolved into a series of large cattle ranches owned by local elites. Investors took over in the 1870s, turning grazing into large-scale wheat farm operation. The area was purchased in 1909 by the Los Angeles Suburban Homes Company. LA Times founder and publisher General Harrison Gray Otis invested in the company and also personally acquired 550 acres in the center of modern-day Tarzana. METRO Orange Line Parking In February 1919, Edgar Rice Burroughs, author of the popular Tarzan novels, arrived SITE in California with his family, relocating from Oak Park, Illinois. He and his family had wintered in Southern California twice before, and he found the climate ideal. On Reseda Blvd March 1, Burroughs purchased Otis’s tract and established Tarzana Ranch. Burroughs subdivided and sold the land for residential development with neighboring small farms following suit. Tarzana, which measures 8.79 square miles, is bounded on the south by Topanga State Park, on the east by Encino, on the north by Reseda and on the west by Woodland Hills. Demographics $85,567 532,781 186,056 56% 44% Average HH Income Total Population Total Households Owner Occupied Housing Renter Occupied Housing (3-mile radius) (5-mile radius) (5-mile radius) (3-mile radius) (3-mile radius) OFFERING MEMORANDUM 22 Saturday, Sunday and Holiday Effective Jun 24 2018 Metro Orange Line Eastbound (Approximate Times) Westbound (Approximate Times) CHATSWORTH CANOGA TARZANA VAN NUYS NORTH NORTH VAN NUYS TARZANA CANOGA CHATSWORTH PARK HOLLYWOOD HOLLYWOOD PARK 1 2 3 4 5 5 4 3 2 1 North North Chatsworth Canoga Reseda Van Nuys Hollywood Hollywood Van Nuys Reseda Canoga Chatsworth Station Station Station Station Station Station Station Station Station Station 3:40A 3:51A 4:00A 4:14A 4:27A 4:50A 5:03A 5:17A 5:26A 5:37A 3:55 4:06 4:15 4:29 4:42 5:05 5:18 5:32 5:41 — 4:10 4:21 4:30 4:44 4:57 5:20 5:33 5:47 5:56 6:08 4:25 4:36 4:45 4:59 5:12 5:35 5:48 6:02 6:12 — 4:40 4:51 5:00 5:14 5:27 5:50 6:03 6:18 6:28 6:40 4:55 5:06 5:15 5:29 5:42 6:05 6:19 6:34 6:44 — 5:10 5:21 5:30 5:44 5:57 6:20 6:34 6:49 6:59 7:11 5:25 5:36 5:45 5:59 6:13 6:35 6:49 7:04 7:14 — 5:40 5:51 6:00 6:15 6:29 6:50 7:04 7:19 7:29 7:41 — 6:04 6:15 6:30 6:44 7:05 7:19 7:34 7:44 — 6:08 6:20 6:30 6:45 6:59 7:20 7:34 7:49 7:59 8:11 — 6:34 6:45 7:00 7:14 7:35 7:49 8:04 8:14 — 6:38 6:50 7:00 7:15 7:29 7:48 8:02 8:17 8:27 8:39 — 7:04 7:15 7:30 7:44 8:00 8:14 8:29 8:39 — 7:06 7:18 7:28 7:43 7:57 8:12 8:26 8:41 8:51 9:03 — 7:29 7:40 7:55 8:09 8:22 8:36 8:51 9:01 — 7:30 7:42 7:52 8:07 8:21 8:32 8:46 9:01 9:11 9:23 7:40 7:52 8:02 8:17 8:31 8:42 8:56 9:11 9:21 — — 8:01 8:12 8:27 8:41 8:52 9:06 9:21 9:31 9:43 8:00 8:12 8:22 8:37 8:51 9:02 9:16 9:31 9:41 — 8:10 8:22 8:32 8:47 9:01 9:12 9:26 9:41 9:51 10:03 — 8:31 8:42 8:57 9:11 9:22 9:36 9:51 10:01 — 8:30 8:42 8:52 9:07 9:21 9:32 9:46 10:01 10:11 10:23 8:40 8:52 9:02 9:17 9:31 9:42 9:56 10:11 10:21 — — 9:01 9:12 9:27 9:41 9:52 10:06 10:21 10:31 10:43 9:00 9:12 9:22 9:37 9:51 10:02 10:16 10:31 10:41 — — 9:21 9:32 9:47 10:01 10:12 10:26 10:41 10:51 11:03 9:20 9:32 9:42 9:57 10:11 10:22 10:36 10:51 11:01 — — 9:41 9:52 10:07 10:21 10:32 10:46 11:01 11:11 11:23 9:40 9:52 10:02 10:17 10:31 10:42 10:56 11:11 11:21 — — 10:01 10:12 10:27 10:41 10:52 11:06 11:21 11:31
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