±3 ACRE CULVER CITY MIXED-USE DEVELOPMENT SITE FOR · d d d. h. santa monica pacific ocean malibu...

SEPULVEDA BLVD

JEFFERSON BLVD

SA

WTE

LLE

BLV

D

BALLONA CREEK BIKE PATH

SANTA MONICA

PACIFIC OCEAN MALIBU

MARINA DEL REY

±3 ACRE

CULVER CITY

MIXED-USE

DEVELOPMENT

SITE FOR:

±200 RESI UNITS,

COMMERCIAL,

& RETAIL

BIDS DUE:

WEDNESDAY, APRIL 11, 2018

BY 5:00PM

www.JeffersonTriangle.com

BRENTWOOD

CULVER CITYJEFFERSON TRIANGLE

1

2

SEPULVEDA BLVD

JEFFERSON BLVD

WEST LOS ANGELES COLLEGE

JEFFERSON TRIANGLE

Three Phase I reports were prepared by AEI Consultants in February of 2018. They each recommended no further investigation for the three addresses (5350 & 5380 Sepulveda Blvd. and 11111 Jefferson Blvd.).

To review the full Phase I documents please visit the Data Room tab at www.JeffersonTriangle.com. 2

http://www.jeffersontriangle.com/

JEFFERSON BLVD

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LVD

SEPULVEDA BLVD

DOWNTOWN LOS ANGELES

KENNETH HAHN STATE RECREATION AREA

BLANCO PARK

WEST LOS ANGELES COLLEGE

NORTHEAST

SEPULVEDA BLVD

JEFFERSON TRIANGLE

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SEPULV

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JEFFERSON BLVD

SAWTELLE BLVD


BRENTWOOD WESTWOODCENTURY CITY

CULVER CITY’S TOP RATED SCHOOLS ARE LESS THAN 1 MILE FROM THE

JEFFERSON TRIANGLE: FARRAGUT ELEMENTARY SCHOOL,

CULVER CITY MIDDLE SCHOOL, CULVER CITY HIGH SCHOOL

DOWNTOWN CULVER CITY

NORTH

SEPULVEDA BLVD

JEFFERSON TRIANGLE

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BLANCO PARK

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SOUTHWEST

THE PROMENADE AT HOWARD HUGHES• CINEMARK MOVIES 18• DAVE & BUSTER’S• BUFFALO WILD WINGS• STARBUCKS• BEN & JERRY’S• ISLAND BURGERS• KABUKI JAPANESE RESTAURANT• PEPPERDINE UNIVERSITY WEST LOS ANGELES CAMPUS — THE GRADUATE SCHOOL OF EDUCATION AND PSYCHOLOGY

SEPULVEDA B

LVD

WESTFIELD CULVER CITY• ADIDAS• BJ’S RESTAURANT• FIVE GUYS• GOLD’S GYM• H&M• JC PENNEY• M.A.C. COSMETICS• OLD NAVY

• SEPHORA• STARBUCKS • TARGET• MACY’S• NORDSTROM RACK • BEST BUY

JEFFERSON BLVD

PLAYA VISTA

JEFFERSON TRIANGLE

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It has been brought to our attention that a brokerage firm has been disseminating misinformation. CBRE and LAPMG welcome direct contact from any prospective buyers regarding all questions, and are pleased to represent buyers directly.

6

LAURIE LUSTIG-BOWERLic. 00979360+1 310 550 2556 laurie. [email protected]

TABLE OF CONTENTS

01 EXECUTIVE SUMMARY

02 AREAOVERVIEW

03 MARKETOVERVIEW

KADIE PRESLEY WILSONLic. 01476551+1 310 550 2575 [email protected]

DAVID CROWN Lic. 01157354+1 323 255 9400 [email protected]

KYLE CROWNLic. 01936385+1 323 255 9400 [email protected]

Pacific Ocean

Santa

BENNETT ROBINSONLic. 00984312+1 818 907 4608 [email protected]

EXECUTIVESUMMARY

7

01

7

CBRE, Inc. and Los Angeles Property Management Group (LAPMG) are pleased to present an opportunity to purchase a prime ±3 acre mixed-use development opportunity in an excellent Culver City location. Jefferson Triangle, which is made up of 3 parcels (11111 Jefferson Blvd., 5350 & 5380 Sepulveda Blvd.) is walking distance to numerous shops and amenities along retail laden Jefferson Boulevard. Across the street from the site is the Studio Village Shopping Center which is home to retailers such as Pavilions, Pier 1 Imports, TJ Maxx, Rite Aid, Carters and PetSmart. Jefferson Triangle is a short one block walk to Target, Ross, Bed Bath & Beyond; it is less than five blocks to Ralphs Grocery, and less than one mile to Trader Joe’s, Sprouts Farmers Market and BevMo!. The property is also approximately one mile to the Westfield Culver City mall, which contains retailers such as Macy’s, Nordstrom Rack, and Best Buy. Just over two miles down Jefferson Boulevard is Playa Vista’s new lively centerpiece known as “Runway”, a contemporary mixed-use community with a state-of-the-art cinema, unique restaurants and bars, beauty and fitness venues, retail shops, as well as everyday conveniences such as grocery and drug stores, banks and coffee cafes.

The site affords a developer the opportunity to construct over 200 residential units and retail space utilizing both the Culver City Community Benefits density bonus program, as well as SB 1818. Under these calculations 8.2% of the units would be set aside as affordable. Jefferson Triangle is currently improved with three structures consisting of a ±27,000 square foot United States Post Office (NNN lease due to expire in September of 2019), a ±6,150 square foot Coco’s Restaurant (NNN lease due to expire in October of 2019) and a ±3,100 square foot Valvoline (NNN lease can be terminated effective January of 2024). The current annual gross income is $1,024,089. The Seller commissioned Phase I reports for each of the three parcels. Each report recommended that no further investigations were necessary.

Culver City is in high demand. It is experiencing a transformation on an immense scale. Over the past five years Culver City has virtually exploded with thousands of new square feet of cafes, chic restaurants, retail shops, creative office space and new housing. Due in large part to the excellent school system as well as the Expo Line extension to Santa Monica, Culver City is attracting new residents and visitors. It boasts an incredibly desirable demographic base of an affluent, young, active and highly educated populace. Jefferson Triangle’s close proximity to Silicon Beach’s 500+ tech startup companies and the easy access it enjoys not only to the Pacific Ocean, but also to the greater Los Angeles basin via the 405 freeway, make it an ideal location for a mixed-use development of this scale.

Jefferson Triangle is offered to the market on an unpriced basis. Offers are due Wednesday, April 11, 2018 by 5:00PM.

EXECUTIVE SUMMARYThe Property is offered on an UNPRICED basis.

B I D S D U E : W E D N E S D AY , A P R I L 1 1 , 2 0 1 8 B Y 5 : 0 0 P M

±3 ACRE CULVER CITY MIXED-USE

DEVELOPMENT SITE

JEFFERSON TRIANGLE

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OPPORTUNITY HIGHLIGHTSRare ±3 acre Culver City development opportunity.

Desirable dense urban infill location.

Located in close proximity to the Silicon Beach tech & entertainment employment center.

Easy access to prime Los Angeles shopping, dining, and entertainment areas including: Downtown Culver City, The Helms Bakery District, Culver City Arts District, Marina del Rey, Play Vista and Century City.

14 minute drive to the Pacific Ocean.

Retail exposure: Excellent street frontage on highly trafficked, signalized intersections. Sepulveda Blvd. & Sawtelle Blvd. Average Daily Trips — 48,030 (2004)

Sepulveda Blvd. & Jefferson Blvd. Annual Average Daily Traffic Count — 52,000 (1998)

The high ranking Culver City Unified School District attracts young families to Culver City.

11111 Jefferson’s Walk Score™ is 87. Most errands can be accomplished on foot.

Three Phase I reports were prepared by AEI Consultants in February of 2018. They each recommended no further investigation for the three addresses

(5350 & 5380 Sepulveda Blvd. and 11111 Jefferson Blvd.). 9

Address 11111 Jefferson Boulevard, Culver City, CA 90230

5350 Sepulveda Boulevard, Culver City, CA 902305380 Sepulveda Boulevard, Culver City, CA 90230

Estimated Lot Area 132,786 SF

3.05 Acres

Assessor Parcel Number 4215-001-016

4215-001-0104215-001-013

Zoning:The site is zoned Commercial General (CG), which allows for the

development of mixed-use multi-family by-right. The adjacent parcel (highlighted in yellow) is owned by the Exceptional Children’s

Foundation. Per conversations with the Culver City Planning Division, the subject property will likely qualify for “Adjacent to

Non-Residential Zone” development standards².

Links:¹Culver City Zoning Map

²Culver City Housing Element

plat map

W W W. JeffersonTriangle.C O M

PROPERTY DETAILS

SEPULVEDA BLVD.

NOT PART OF SITE

JEFFERSON TRIANGLE

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https://www.culvercity.org/home/showdocument?id=142

http://www.culvercity.org/home/showdocument?id=790

Height Limit: Commercial General (CG): 56 feet Additional height available with SB 1818.

Density Limit: Commercial General (CG): 35 units/acreCommunity Benefits³: 50 units/acreSB 1818: Up to 35% more units

Per Culver City Planning Division, a developer can use both Community Benefits and SB 1818 together.

Per CG zoning, no more than 25% of units can be less than 700 SF in size.

Multi-Family Parking Requirements:Studio and 1 bedroom units, up to 900 SF: 1 space per unit

2-3 bedroom units: 2 spaces per unit

Retail Parking Requirements:Varies per use, see Culver City Housing Element²

link below.

Links:¹Culver City Zoning Map

²Culver City Housing Element³Culver City Community Benefits

ZONING & ENTITLEMENT

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https://www.culvercity.org/home/showdocument?id=142



TENANT ADDRESS APN BLDG SFLEASE START

LEASE END

MOST RECENT

RENEWAL

RENEWAL EXPIRATION

RENEWAL OPTION?

LESSOR TERMINATION

RIGHTS

MONTHLY RENT

DATE OF NEXT RENT INCREASE

NEXT RENT INCREASE AMOUNT

NNN

USPS 11111 Jefferson 4215-001-016 27,043 5/3/1960 9/6/2019 9/7/2016 9/6/2019 None N/A $60,515 N/A N/A Yes

Coco's 5350 Sepulveda 4215-001-010 6,151 9/14/1967 10/15/1987 10/1/2017 10/13/2019 None N/A $18,925 N/A N/A Yes

Valvoline 5380 Sepulveda 4215-001-013 3,138 3/1/1999 3/1/2014 3/2/2014 3/1/2019 Yes* Yes** $5,900 3/2/2020$708.08

(12%)Yes

Total $85,340

LEASE ABSTRACT

* Excerpt from Original Lease, Section 3: Lessor hereby grants the Lessee an option (the “Option”) to extend the Lease Term upon the same terms and conditions as those contained in this Lease... by giving written notice to Lessor at least nine (9) months but no more than twelve (12) months before the end of the Lease Term.

* Excerpt from First Amendment to Lease, Section 2: Lessee shall have three (3) five (5) year options and one (1) four (4) year option to extend the term of the lease, for a total term, including the initial term and all extensions, if exercise, of thirty four (34) years.

** Notwithstanding the foregoing, if Lessee has exercised the first two (2) five (5) year options to extend and has given notice of its intention to exercise the third five (5) year option to extend, Lessor shall have the right to terminate the Lease within two hundred ten (210) days of the date Lessee notifies lessor of the exercise of the third five (5) year option. Lessor’s right to terminate the Lease shall be conditioned upon the following: (a) Lessee exercises the third five (5) year option; (b) Lessor notifies Lessee, in writing, at any time within the two hundred ten (210) day window of Lessor’s right to terminate, of Lessor’s intention to terminate; and (c) Lessor has elected to re-develop the Premises (and said re-development may be in conjunction with other property or properties owned by Lessor within one thousand (1,000 feet of the Premises) as evidenced by a filed conditional use permit application, building permit application or similar application with the applicable governmental agency (referred to herein as “Application”). The Application may be submitted by Lessor, Lessor’s assigns, agents, attorneys, prospective tenants of Lessor (or their representatives), future tenants of Lessor (or their representatives) or any one else who has obtained authorization from Lessor to file the Application. Lease can be terminated effective January of 2024.

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AREA OVERVIEW

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02

13

SEPULVEDA BLVD

JEFFERSON BLVD


MARINA DEL REY SANTA MONICA

SAWTELLE BLVD

WEST

JEFFERSON TRIANGLE

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CULVER CITYCulver City is in high demand. It has become a prime destination to work, dine, shop and revel in the beauty of this historic movie town and its dynamic art scene. Culver City has become a focal point for culture and nightlife hosting an array of events while providing the clean and efficient transportation to reach them.

Culver City boasts an incredibly desirable demographic base - affluent, young, active and highly educated. With its centrality and a growing amount of retail as well as its housing and transportation options, many are choosing to live, work, and play in Culver City.

Situated 1.7 miles from Jefferson Triangle, Sony Pictures Studios is one of the world’s most storied locations for motion picture production. Dating back nearly a century, the Culver City lot has been the site of countless entertainment classics, including Ben-Hur, Mutiny on the Bounty, Grand Hotel, The Wizard of Oz, and Singin’ in the Rain. Today, the studio continues to be a premier facility for film and television productions of all types, offering an impressive array of sound stages, state-of-the-art post-production facilities and world-class support services amid an inspiring, historical setting.

Culver City is experiencing a transformation on an immense scale. Once a

sleepy submarket within Greater Los Angeles, over the last ten years Culver

City has virtually exploded with thousands of new square feet of cafes, chic

restaurants, retail shops, office space and new housing. This is due in large part

to the excellent school system as well as the Expo Line, connecting Culver City

to Santa Monica. Culver City residents can conveniently travel to Downtown

Los Angeles, Santa Monica, Hollywood, Pasadena, Long Beach and beyond.

Culver City is attracting new residents and visitors from all over Los Angeles.

Culver City is in demand

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PLATFORM Just a 10 minute drive from the Jefferson Triangle is the new creative retail hub in Downtown Culver City known as Platform. Restaurants include Blue Bottle Coffee, Hayden Sweet Green, Loqui, Sao Acai, The Cannibal, and Van Leeuwen.

Retailers include Aesop, Bird Brooklyn, Freda Salvador, Linda Farrow, Magasin, Reformation, Poketo, Tom Dixon, and Velvet.

Boutique wellness experiences include Soulcycle and Tenoverten.

DOWNTOWN CULVER CITYDowntown Culver City is a charming collection of outdoor cafes, unique shops, art galleries, creative offices and vibrant nightlife opening onto tree-lined boulevards. It boasts a City Hall of stunning architecture, Center Theatre Group’s nationally renowned Kirk Douglas Theatre. Striking landmark buildings are home to an array of entrepreneurial businesses and creative enterprises, along with a wide selection of retail and restaurant services for local residents to enjoy. Downtown Culver City offers the perfect combination of small-town charm, with all the benefits of cosmopolitan big-city living.

Downtown Eateries Include: Akasha. Novecento, AR Cucina, Bacoshop, Roccos Tavern, Rush Street, Public School 310, Tender Greens, Meet in Paris, Wildcraft, Ford’s Filling Station, and Father’s Office.

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MARINA DEL REY Just a 10 minute drive away is the seaside neighborhood of Marina Del Rey. Marina Del Rey offers visitors some of the best LA beaches, walking trails, bayside dining, water activities and luxury accommodations such as the Ritz Carlton Hotel.

Marina Del Rey also features two premium shopping centers; The Waterside and Villa Marina Marketplace. The Waterside includes restaurants such as Sugar Fish by Sushi Nozawa, Kreation, Mendocino Farms, Mainland Poke, Starbucks, Rainbow Acres, Fresh Brothers, Chipotle and California Pizza Kitchen. Retailers include Ann Taylor Loft, L’occitane, DryBar, Havaianas, and Brighton. Villa Marina Marketplace features the Yard House, AMC Movie Theater, The Coffee Beans, DSW, Equinox, Gelson’s Market, Irori Sushi, Jamba Juice, Men’s Wearhouse, Pier 1 Imports, Ruth’s Christ Steak House to name a few.

PLAYA VISTAPlaya Vista is situated just over two miles west of the Jefferson Triangle along Jefferson Boulevard. It has become a destination in its own right with attractions such as the new Runway mixed-use commercial and social center that includes an approximate 200,000 square foot shopping center along with apartments and office space. Retailers at Runway include Whole Foods Market, Cinemark, Sol Cocina, Panini Café, Hal’s Bar & Grill, 800 Degrees as well as a new Cedars-Sinai Primary Care and Urgent Care facility.

Next door to Runway is the Campus, home to Playa Vista’s emerging tech hub. From titans like YouTube, Space LA, and IMAX, to creative powerhouses like 72andSunny and USC’s Institute of Creative Technologies, Playa Vista has become fertile ground for innovation and connection.

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DRIVE TIMES FROM 11111 JEFFERSON BLVD.

CULVER CITY, CA

D o w n t o w n C u l v e r C i t y2.2 MILES - 10 MINUTES

P l a y a V i s t a2.9 MILES - 12 MINUTES

B e v e r l y H i l l s2.3 MILES - 12 MINUTES

L A X4.7 MILES - 15 MINUTES

S a n t a M o n i c a7.2 MILES - 17 MINUTES

Ve n i c e B e a c h5.3 MILES - 18 MINUTES

H o l l y w o o d7.7 MILES - 39 MINUTES

D o w n t o w n L o s A n g e l e s11 MILES - 47 MINUTES

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Downtown

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2017DEMOGRAPHIC HIGHLIGHTS

within a 0.5 Mile Radius• 62% of the population, 25 years and older, had a Bachelor’s

Degree, Graduate Degree, or other Professional Degree.

• The Average Household Income was $128,321.

within a 1 Mile Radius• The 2017 population was 23,581 people.

• That number is expected to grow by 2.7% to 24,218 people in 2022.

within a 3 Mile Radius• 35% of Households had an income of $100,000 or more.

• 11% of Households had an income of $250,000 or more.

1919

3 Miles

0.5 Miles

1 Miles

Jefferson Triangle is Minutes to Silicon BeachSilicon Beach is home to over 500 tech startup companies. It is situated on Los Angeles’ westside in a coastal strip north of LAX and extending into Santa Monica. Major technology companies have opened offices in the region including Google, Yahoo!, YouTube, BuzzFeed, Facebook, Salesforce, AOL, Electronic Arts, EdgeCast Networks, and MySpace. Other Silicon Beach employers include:

TOP EMPLOYERS

M a r i n a D e l R e y• Telesign• Dollar Shave Club• CinemaNow• Jib Jab Bros. Studios

S a n t a M o n i c a• Google• Yahoo• Twitter• Oracle• Edmunds.com• Zip Recruiter• Salesforce• Hulu• Activision• Dogvacay

Ve n i c e• Google• Snapchat• Creators Media, Inc.• Brilliant Bicycle Co.• WaiveCar• Wevr

P l a y a V i s t a• Facebook• Youtube• Microsoft• Verizon/EdgeCast• Yahoo• TMZ• Sony Playstation• Electronic Arts• Belkin• IMAX• ICANN• The Honest Company

E l S e g u n d o• DirecTV/AT&T• Mattel• Raytheon• Boeing• Northrup Grumman• Kite Pharma• Keysight Technologies• Centerfield• Teledyne Controls• Redline

Culver City top employers include:

L o s A n g e l e s I n t e r n a t i o n a l A i r p o r t Los Angeles International Airport (LAX) is located approximately five miles from Jefferson Triangle. In 2016 LAX handled 80,921,527 passengers, making it the world’s fourth busiest airport by passenger traffic. Roughly 59,000 local jobs are directly attributable to LAX.

TOP EMPLOYERSTOP EMPLOYERSRANK EMPLOYER EMPLOYEES

1 Sony Pictures Entertainment 3,400

2Southern California Hospital at Culver City (formerly Brotman Medical Center)

1,167

3 City of Culver City 871

4 Culver City Unified School District 760

5 Goldrich & Kest Industries, LLC 717

6 Symantec 700

7 West Los Angeles College 600

8 Target 575

9 NFL Media 525

10 Apple, Inc. 460

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Marina Del Rey

Los Angeles International

Airport

Santa Monica

Venice

Playa Vista

Pacific Ocean

Culver City

El Segundo

The Ballona Creek and Bike PathBallona Creek connects Jefferson Triangle to Marina Del Rey. The Ballona Creek Bike Path starts at Syd Kronenthal Park in east Culver City and extends about 7 miles to the Coast Bike Path along the beach. Significant bike path improvements in recent years include native landscaping, artist-designed gates, benches, drinking fountains, murals and other projects by public agencies and local non-profit organizations. This continuing process is creating a pleasant recreational facility for riders, walkers, joggers and skaters, including families, and is also used by some to commute to work by bike.

Marina del Rey – Considered the coastal playground of Los Angeles, Marina del Rey is an unincorporated seaside community which is home to the world’s largest man-made small-craft harbor with eight basins having capacity for 5,300 boats. Visitors can enjoy the beaches, bike the various coastal bike paths, or take in one of the numerous water activities, such as kayaking, sport fishing or sailing.

UCLA Marina Aquatic Center – The Marina Aquatic Center (MAC) is UCLA’s premier water-front recreation facility in scenic Marina del Rey. It is home to kayaking, rowing, sailing, surfing, stand up paddleboarding and windsurfing classes, as well as the UCLA Men’s and Women’s Rowing Teams, UCLA Sailing Team, MAC Junior Rowing Team, and youth boating programs. Rentals are open to the public.

Fisherman’s Village – Constructed in the style of a New England fishing village, Fisherman’s Village is a waterfront mall comprised of five brightly painted wooden buildings. Visitors can dine on the waterfront, take in a concert, or hire a boat. The Village offers panoramic views of the harbor in which approximately 5,300 pleasure boats, yachts and commercial vessels are berthed in 21 individual marinas including yacht clubs.

Ballona Wetlands Ecological Reserve – Comprised of roughly 600 acres, the Ballona Wetlands are one of the last significant wetlands areas in the Los Angeles basin. Named for Port Ballona and Ballona Creek, which now runs through the area as a flood control channel, the Wetlands have been visited by about 300 bird species. While much of the reserve is currently closed to the public, there are opportunities to visit Ballona, including weekend tours and monthly volunteer restoration events.

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VENICE

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MARINA DEL REY

PACIFIC OCEAN

WESTCHESTER

21 mins3.7 miles

JEFFERSON TRIANGLE is located approximately 3 miles from three separate Metro stations on the EXPO Line: Palms, Culver City, and La Cienega/Jefferson Stations. The Expo Line allows passengers the ability to travel to the Pacific Ocean in less than 20 minutes, and to Downtown Los Angeles in less than 40 minutes.

The Metro Expo Line connects Los Angeles’ Westside by rail with Downtown Los Angeles, Hollywood, the South Bay, Long Beach, Pasadena and the San Fernando Valley. With 10 new stations serving Culver City, Santa Monica, USC (University of Southern California) and Downtown Los Angeles, the Metro Rail system will expand 80 stations over 87 miles of rail destinations across LA County.

Phase II of the Expo-line extends the rail system west of Culver City station to Santa Monica, ending at the Colorado and 4th Street Station. The expansion, which was completed in 2016 links Downtown Los Angeles to the Pacific Ocean. The Expo Line has approximately 27,260 daily riders (2015) with ridership expected to reach 640,000 by 2030.

METRO EXPO LINE

WESTSIDE

Los

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PACIFIC OCEAN

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PURPLE LINE EXTENSION

REGIONAL CONNECTOR

LAX LINE

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Little To

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Arts Dist

Universal C

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Hollywood/V

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Hollywood/H

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Long Beach Bl

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Allen

LakeSierra

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Arcadia

Monrovia

Duarte/C

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Irwindale

Azusa Downtown

APU/Citr

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Lincoln/Cypress

Heritage Sq

Southwest Museum

Highland Park

Fillmore

Del Mar

Memorial Park

South Pasadena

Westlake/M

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Wilshire

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Pershing

Chinatown

Union Station

Chinatown

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7th St/Metro CtrPico

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LAX FlyAwayAmtrak & MetrolinkLAX FlyAway

LAX Shuttle G

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Sherman Way

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Roscoe

Nordhoff

Chatsworth

Hollywood/W

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Vermont/S

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Hollywood/V

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Hollywood/H

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Hollywood

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Downtown Santa Monica

Mariposa

El Segundo

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Redondo Beach

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PacificAv

DowntownLong Beach

PacificAv

Washington

Vernon

Slauson

Florence

Firestone

Compton

Artesia

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Willow St

Pacific Coast Hwy

Anaheim St

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Willowbrook/Rosa Parks

Watts Towers 103rd St/

Willowbrook/Rosa Parks

DowntownLong Beach

Grand/LATTC

San Pedro St

Watts Towers

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

WESTSIDE

CENTRAL LA

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

CENTRAL LA

North Hollywood to Union Station

Metro Rail

Wilshire/Western to Union StationPurple Line

Blue Line

Expo Line

Orange Line

Amtrak

LAX FlyAway

Metrolink

Metro Busway

Regional Rail

Green Line

Gold Line

Downtown LA to Long Beach

Downtown LA to Santa Monica

Redondo Beach to Norwalk

East Los Angeles to Azusa

Silver Line Chatsworth to North Hollywood

San Pedro to El Monte

amtrak.com

metrolinktrains.com

lawa.org/flyaway

LAX Shuttle (free)lawa.org

Street Service in Downtown LAand San Pedro

MAY 2016 Subject to Change

Airport Shuttle

Rail Station

StationTransfer

Busway

Station

UNDERCONSTRUCTION

Busway StreetService

Red Line

metro.netMetro Rail & Busway

17-0

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MARKET OVERVIEW

03

2323

MULTIFAMILY RENT SURVEYSource: CBRE Inc.

© 2018 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBREneither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. TheInformation is protected by copyright and shall be fully enforced.

Layout ID:L04 MapId:5148845

PROJECT NAME

1 Villas at Playa Vista I - Montecito

2 Villas at Playa Vista II - Malibu

3 Villas at Playa Vista III - Sausalito

4 Access Culver City

5 Harlow Culver City

6 Victor on Venice

7 Altitude

8 M Lofts

24

MULTIFAMILY RENT COMPARABLES01

02

SELECT RENT COMPARABLES

VILLAS AT PLAYA VISTA I - MONTECITO12855 Runway RdPlaya Vista, CA 90094Year Built: 2016Units: 309Occupancy: 96%Phone: 949.430.4323Owner: The Irvine CompanyManager: The Irvine Company

Type Number of Units1 + 1 131

1 + 1 Den 432 + 2 66

2 + 2 Den 69

Amenities: Full-Size W/D In-Unit USB Outlets Clubhouse Internet Lounge/Business CenterQuartz Countertops On-Site Concierge Team BBQ Areas Dog Wash BayHardwood-Style Flooring/Custom Tile Pool/Spa Private Dining Room Electric Car ChargersViking Appliances Outdoor Kitchen/Dining Areas Wine Cellar Parcel LockersWine Refrigerators Outdoor Lounges w/ Fireplaces Fitness/Yoga Studios

$5,500 1,431 - 1,537 $3.58 - $3.84

$4,100 1,007 - 1,011 $4.06 - $4.07$5,100 - $5,500 1,344 - 1,364 $4.03 - $3.79

COMPARABLE 1

PHOTO

Effective Rent Unit Square Feet Rent per SF$3,700 - $4,100 938 - 1,053 $3.89 - $3.94

1 + 143%

1 + 1 Den14%

2 + 221%

2 + 2 Den22%


VILLAS AT PLAYA VISTA II - MALIBU12665 Village LnPlaya Vista, CA 90094Year Built: 2016Units: 491Occupancy: 96%Phone: 949.430.4324Owner: The Irvine CompanyManager: The Irvine Company


1 + 1 Den 502 + 2 188

2 + 2 Den 12

Amenities: Full-Size W/D In-Unit Custom Tile Backsplash Courtyard Lounge/BBQ Areas Parcel LockersQuartz Countertops Pools/Spas Fitness Studio/Yoga LoungeHardwood-Style Flooring Outdoor Kitchen/Dining Area Dog Wash BayStainless Steel Appliances Clubhouse Electric Car Chargers

$4,075 1,041 $3.91

COMPARABLE 2

PHOTO

Effective Rent Unit Square Feet Rent per SF$3,945 - $3,395 855 - 1,080 $3.65 - $3.97

$4,200 - $4,300 1,184 - 1,352 $3.18 - $3.55$4,400 - $4,600 1,352 $3.25

1 + 149%

1 + 1 Den10%

2 + 238%

2 + 2 Den3%

25


04


VILLAS AT PLAYA VISTA III - SAUSALITO12411 Fielding CirPlaya Vista, CA 90094Year Built: 2016Units: 703Occupancy: 94%Phone: 855.370.8860Owner: The Irvine CompanyManager: The Irvine Company


1 + 1 Den 42 + 2 317

Amenities: Full-Size W/D In-Unit Outdoor Kitchen/Dining Area Great Room Electric Car ChargersQuartz Countertops Outdoor Lounge/Fireplace/BBQ Areas Fitness Center w/ Yoga Room Parcel LockersHardwood-Style Flooring Outdoor Theater Internet LoungeStainless Steel Appliances Clubhouse Conference CenterPool/Spa Zen Garden Dog Wash Bay

$2,700 - $3,300 740 - 994 $3.32 - $3.65N/A 927 N/A

COMPARABLE 3

PHOTO

Effective Rent Unit Square Feet Rent per SF

$4,100 - $4,300 1,094 - 1,230 $3.50 - $3.75

1 + 154%

1 + 1 Den1%

2 + 2 45%


ACCESS CULVER CITY8770 Washington BlvdLos Angeles, CA 90232Year Built: 2016Units: 115Occupancy: 95%Phone: 844-788-1276Owner: GreystarManager: Greystar

Type Number of Units0 + 1 31 + 1 562 + 2 34

2 + 2 Loft 123 + 3 TH 10

Amenities: W/D In-Unit Private Patio/Balcony Available Pool/Spa Observation DeckHardwood-Style Floors/Tile Kitchen Backsplash Outdoor BBQ/Kitchen/Fireplace/TV Free Wifi In Common AreasQuartz Countertops Elevator Cabana On-Site RetailStainless Steel Appliances Fitness Center Zen Lounge Across Street From Expo Line Kitchen Island Available Clubroom w/ Kitchen, Gaming, TV Indoor/Outdoor Yoga Lounge

COMPARABLE 4

$4,985 - $5,370 1,289

607 $4.79 - $5.02$3,082 - $3,500 738 - 762 $4.18 - $4.59

$3.87 - $4.17$6,583 - $7,356 1,758 - 1,984 $3.71 - $3.74

$4,083 - $4,700 1,104 - 1,114 $3.70 - $4.22

PHOTO

Effective Rent Unit Square Feet Rent per SF$2,906 - $3,048

0 + 13%

1 + 149%

2 + 229%

2 + 2 Loft10%

3 + 3 TH9%

26


HARLOW CULVER CITY9901 Washington BlvdLos Angeles, CA 90232Year Built: 2016Units: 131Occupancy: 95%Phone: 310.504.3888Owner: SPI HoldingsManager: Lincoln Property Company

Type Number of Units*1 + 1 38

1 + 1 Loft 11 + 1.5 Loft 6

2 + 1 22 + 1.5 3

2 + 1 Loft 32 + 1.5 Loft 27

2 + 2 172 + 2.5 2

2 + 2.5 Loft 53 + 1.5 Loft 23 + 2.5 Loft 6

3 + 2 63 + 3 2

* Does not include the affordable units Amenities:

Full Size W/D In-Unit Patio/Deck Business Center Concierge Hardwood-Style Flooring/Carpet Resident Lounge Terrace w/ Fire PitStone Countertops Conference Room Fitness Center

$4,895 1,154 $4.24

$4,255 1,023 $4.16

771 - 848 $3.96 - $4.42890 - 1,228 $3.60 - $3.77914 - 1,161 $4.02 - $4.15

1,013 - 1,349 $3.58 - $3.60

961 - 1,694 $3.50 - $4.471,194 - 1,251 $3.94 - $4.04

1,315 $3.88


COMPARABLE 5

PHOTO

Effective Rent Unit Square Feet Rent per SF$2,710 - $3,212 659 - 695 $4.11 - $4.62

$3,095 - $3,725 809 - 883 $3.83 - $4.22$3,398 737 $4.61

$3,635 825 $4.41$3,750 833 $4.50

$3,050 - $3,745$3,355 - $4,425$3,790 - $4,662

$3,650 - $4,825

$4,300 - $5,929$4,700 - $5,050

$5,100

Other46%

1 + 132%

2 + 11%

2 + 214%

3 + 25%

3 + 32%

27


07


VICTOR ON VENICE10001 Venice BlvdLos Angeles, CA 90034Year Built: 2006Units: 115Occupancy: N/APhone: 310.815.1355Owner: Equity ResidentialManager: Equity Residential


Live/Work 2

Amenities: W/D In-Unit Patio/Balcony Theater RoomHardwood Floors Quartz Counters Pool/SpaStainless Appliances Fitness Center

N/A 1,079 - 1,180 N/A

$2,685 - $2,829 729 - 1,100 $2.57 - $3.68$3,495 - $3,539 1,190 - 1,313 $2.70 - $2.94

COMPARABLE 6

PHOTO

Effective Rent Unit Square Feet Rent per SFN/A 592 - 613 N/A

0 + 15%

1 + 162%

2 + 231%

Live/Work2%


ALTITUDE5900 Center DriveLos Angeles, CA 90045Year Built: 2016Units: 545Occupancy: 96%Phone: 844.788.1276Owner: Equity ResidentialManager: Equity Residential


Amenities: W/D In-Unit Glass Tile Backsplash Heated Salt Water Pool Package ServiceHard Surface Flooring Island Kitchen Hot Tub Free Wifi in Clubhouses and LoungesQuartz Countertops Acrylic Cabinets Courtyards with BBQ AreasStainless Steel Appliances Private Balcony Clubroom w/ Billiards and Computers

COMPARABLE 7

PHOTO

Effective Rent Unit Square Feet Rent per SF$2,523 - $2,646 448 - 686 $3.86 - $5.63$2,480 - $2,753 660 - 873 $3.15 - $3.76$3,186 - $3,713 1,080 - 1,223 $2.95 - $3.04

0 + 126%

1 + 151%

2 + 223%

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MULTIFAMILY RENT COMPARABLES08 SELECT RENT COMPARABLES

M LOFTS3425 Motor AveLos Angeles, CA 90034Year Built: 2014Units: 115Occupancy: 99%Phone: 310.280.3900Owner: Frost ChaddockManager: Frost Chaddock


Jr 1 + 1 401 + 1 67

Amenities: W/D In-Unit (Select Units) Quartz Counters Fitness Center Outdoor FireplaceLaundry Facilities Polished Concrete Floors Resident Lounge WiFiStainless Steel Appliances Patio/Balcony Dog Run Ground Floor Retail

$2,350 - $2,450 370 - 400 $6.13 - $6.35$2,650 - $2,800 580 - 620 $4.52 - $4.57

COMPARABLE 8

PHOTO

Effective Rent Unit Square Feet Rent per SF$2,195 - $2,250 380 $5.78 - $5.92

0 + 17%

Jr 1 + 135%1 + 1

58%

29

ADDRESS SF RENT/SF TYPETERM (IN MONTHS)

LESSEE

1 3844 - 3849 Overland Ave. 1,118 $7.50 NNN 60 Robeks

2 3824 Culver Blvd. 1,100 $6.25 NNN 60 Subway

3 4137 Sepulveda Blvd. 2,646 $5.48 NNN 120 Holy Cow

4 3851 Overland Ave. 4,309 $5.33 NNN 60 At&T Mobility

5 9901 / 3855 Washington Blvd. 2,395 $5.25 NNN 120 Le Pain Quotidien

6 4114 Sepulveda Blvd. 1,210 $5.25 NNN 60 Rita's Italian Ice

7 8770 Washington Blvd. 3,199 $5.15 FSG 120 Bank of the West

8 4130 Sepulveda Blvd. 1,865 $4.79 NNN 147 Ziggy's Barber Shop

9 3850 - 3863 Culver Blvd. 1,778 $4.37 NNN 36 LA Federal Credit Union

RETAIL RENT COMPARABLESDate Range: 2015 to 2017 Source: CBRE Inc.

30

SELECT SOLD MULTIFAMILY PROPERTIES

ADDRESS CITY ZIP UNITS SALE PRICE CAP RATE $/UNIT $/SF BLDG SF YR BLT SALE DATE

680 S. Berendo St. Los Angeles 90005 321 $117,000,000 4.80 $388,704 $598 195,545 2014 9/21/17

1001 S. Olive St. Los Angeles 90015 201 $110,000,000 N/A $547,264 $589 186,679 2017 4/24/17

8500 W. Sunset Blvd. Los Angeles 90069 190 $168,200,000 N/A $885,263 $576 292,240 2017 6/27/17

685 S. New Hampshire Ave.

Los Angeles 90005 177 $67,400,000 4.25 $380,791 $556 121,200 2016 10/6/17

1724 N. Highland Ave. Hollywood 90028 270 $132,500,000 3.70 $490,741 $556 238,441 2010 1/3/17

5416 N. Fair Ave.North

Hollywood91601 438 $206,479,724 N/A $471,414 $545 378,717 2007 9/19/17

211 N. Valley St. Burbank 91505 145 $59,000,000 3.60 $406,897 $534 110,566 1974 11/9/17

5520 Wilshire Blvd. Los Angeles 90036 175 $105,000,000 N/A $600,000 $525 200,000 2016 1/31/17

Search Criteria: LA County, 100 Units or More, Over $520 PSF Source: CoStar; Sorted by Price Per SF

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SELECT CONDOMINIUM SALES COMPARABLES

ADDRESS CITY ZIP BED BATH SF SALE PRICE SF/SF YR BLT SALE DATE

5837 Village Dr #5 Playa Vista 90094 2 2 1,816 $1,825,000 $1,005 2017 09/11/17

4176 Higuera St Culver City 90232 3 3 1,246 $1,216,000 $976 1983 11/27/17

4178 Higuera St Culver City 90232 3 3 1,272 $1,175,000 $924 1983 10/24/17

12725 Bluff Creek Dr #1 Playa Vista 90094 3 2 1,816 $1,660,000 $914 2017 09/11/17

9900 Culver Blvd #Phd Culver City 90232 2 2 1,680 $1,432,300 $853 2009 03/08/17

9900 Culver #Phe Culver City 90232 2 2 1,670 $1,410,000 $844 2009 07/19/17

3716 S Bentley Ave Los Angeles 90034 4 2 1,610 $1,350,000 $839 1947 01/05/17

12516 Osprey Ln #1 Playa Vista 90094 4 4 2,637 $2,149,000 $815 2014 10/31/17

4190 Duquesne Ave #1 Culver City 90232 1 1 808 $625,000 $774 1980 11/30/17

4040 Grand View #23 Los Angeles 90066 2 2 841 $626,000 $744 1961 06/21/17

11823 Avon Way #101 Los Angeles 90066 2 3 993 $720,000 $725 1991 10/13/17

4040 Grand View Blvd #56 Los Angeles 90066 2 2 841 $609,500 $725 1961 05/10/17

3920 Girard Ave Culver City 90232 2 2 1,085 $772,000 $712 1989 09/22/17

12776 W Aurora Pl #1 Playa Vista 90094 4 4 2,674 $1,898,000 $710 2016 02/10/17

11106 Culver #101 Culver City 90230 2 3 1,099 $780,000 $710 1981 01/24/18


3914 Girard Ave Culver City 90232 2 2 1,230 $865,000 $703 1989 07/19/17

4040 Grand View Blvd #83 Los Angeles 90066 2 2 841 $590,000 $702 1961 04/28/17

4361 Berryman Ave #20 Los Angeles 90066 1 1 483 $335,500 $695 1974 11/06/17

3722 Hughes Ave #7 Los Angeles 90034 2 3 994 $690,000 $694 1974 10/13/17

3836 Bentley Ave #4 Culver City 90232 2 2 1,251 $859,000 $687 1980 10/31/17



4040 Grand View Blvd #90 Mar Vista 90066 2 2 841 $565,000 $672 1961 10/02/17

12016 Washington Pl #103 Los Angeles 90066 2 3 1,124 $749,000 $666 1987 06/30/17


4150 Duquesne Ave #101 Culver City 90232 1 1 1,014 $675,000 $666 1980 04/07/17

3651 Jasmine Ave #106 Los Angeles 90034 2 2 890 $589,000 $662 1990 11/08/17

5951 Canterbury Dr #16 Culver City 90230 2 2 1,007 $665,000 $660 1966 12/04/17

3651 Jasmine Ave #109 Los Angeles 90034 1 1 715 $465,000 $650 1990 05/22/17

2-Mile Radius of Subject Property, Over $600 PSF, Sold January 1, 2017 to January 19, 2018 Source: The MLS; Sorted by Price Per SF

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ADDRESS CITY ZIP BED BATH SF SALE PRICE SF/SF YR BLT SALE DATE

6312 Summertime Ln Culver City 90230 2 2 916 $595,000 $650 1973 12/29/17


10212 Summertime Ln #212 Culver City 90230 1 1 730 $465,000 $637 1973 07/13/17

11930 Avon Way #206 Marina Del Rey 90066 2 2 939 $598,000 $637 1986 11/09/17

5646 Canterbury Dr Culver City 90230 2 3 1,178 $750,000 $637 1984 07/19/17

12016 Washington Pl #313 Los Angeles 90066 2 2 1,181 $750,000 $635 1987 01/17/17

4900 Overland Ave #358 Culver City 90230 2 2 920 $578,000 $628 1973 07/13/17


5215 Sepulveda #10B Culver City 90230 2 3 1,254 $785,000 $626 1964 10/25/17

3720 Hughes Ave #6 Los Angeles 90034 2 3 1,202 $751,000 $625 1981 06/15/17



5104 Maytime Ln Culver City 90230 2 2 1,222 $760,000 $622 1973 09/01/17

11930 Avon Way Way #107 Los Angeles 90066 2 2 965 $600,000 $622 1986 08/09/17

4361 Berryman Ave #19 Mar Vista 90066 1 1 555 $345,000 $622 1974 10/31/17

3645 Westwood #106 Los Angeles 90034 1 1 696 $430,000 $618 1978 12/06/17

4115 Duquesne Ave #1 Culver City 90232 1 1 1,005 $620,000 $617 1980 04/07/17

4900 Overland Ave #287 Culver City 90230 2 1 864 $533,000 $617 1973 06/28/17

4842 Hollow Corner Rd #405 Culver City 90230 3 2 1,055 $650,710 $617 1973 08/01/17

4611 Maytime Ln Culver City 90230 3 2 1,276 $785,000 $615 1975 10/03/17

3675 Keystone Ave #5 Los Angeles 90034 2 3 1,212 $745,000 $615 1983 08/16/17

4190 Duquesne Ave #1 Culver City 90232 1 1 808 $495,000 $613 1980 05/15/17

4073 Lincoln Ave #3 Culver City 90232 2 3 1,610 $985,000 $612 2007 01/03/17




5005 Stoney Creek Rd #440 Culver City 90230 2 2 885 $540,000 $610 1973 07/13/17

8209 Raintree Cir #209 Culver City 90230 1 1 739 $450,000 $609 1972 05/25/17

11106 Culver #104 Culver City 90230 2 3 1,326 $805,000 $607 1981 05/09/17

4190 Marcasel Ave #1 Los Angeles 90066 2 3 1,284 $775,000 $604 1987 07/31/17

4350 Berryman Ave #9 Los Angeles 90066 1 1 665 $400,000 $602 1976 09/01/17

5951 Canterbury Dr #2 Culver City 90230 2 2 1,001 $602,000 $601 1966 08/10/17


SELECT CONDOMINIUM SALES COMPARABLES CONT.

33

DEVELOPMENT PIPELINESearch Criteria: Mixed Used Construction Projects in Culver City, Mar Vista, Palms As of January 2018 Source: Axiometrics

PROJECT NAME ADDRESS ZIP CODE DEVELOPER UNITSPIPELINE

STAGECOMPLETION

DATE

1 Cobalt10601 Washington Blvd

Culver City, CA90232 Greystar 135

Under Construction

5/1/2018

2 38383838 Dunn Dr Culver City, CA

90232California

Landmark Group86

Under Construction

4/1/2018

3 Ivy Station8824 National Blvd

Culver City, CA90232

Lowe Enterprises Real Estate Group

200Under

Construction7/1/2019

46221 Bristol Parkway

6221 Bristol Pkwy Culver City, CA

90230HSH

Management Group LLC

762 Planning TBD

511924 Washington Blvd

11924 W Washington Blvd Los Angeles, CA

90066 CityView 97Under


6 The Roy3644-3658 S Overland Ave

Los Angeles, CA90034

Anejo Development

92Under


7 Cumulus3321 S La Cienega Blvd

Los Angeles, CA90016 Carmel Partners 1218 Planning TBD

34

AFFILIATED BUSINESS DISCLOSURECBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”)

engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and

facilities management, valuation, investment fund management and development. At times different Affiliates may represent

various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates,

including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described

in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property.

You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to

you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of

the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a

way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent

with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

CONFIDENTIALITY AGREEMENTThis is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the

acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the

state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective

investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are

based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner, CBRE, Inc., and LAPMG.

Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages,

and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified

prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport

to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents

of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner, CBRE, Inc., or LAPMG nor any of their respective

directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any

of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your

investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to

reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which

may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making

an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the

Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum

and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or

any of its contents to any other entity without the prior written authorization of the Owner. CBRE, Inc., or LAPMG. You also agree that you will not use this

Memorandum or any of its contents in any manner detrimental to the interest of the Owner, CBRE, Inc., or LAPMG. If after reviewing this Memorandum,

you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc. or LAPMG.

DISCLAIMER© 2018 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. and

LAPMG do not doubt its accuracy, CBRE, Inc. and LAPMG have not verified it and makes no guarantee, warranty or representation about

it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates

used are for example only and do not represent the current or future performance of the property. The value of this transaction to you

depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should

conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for

your needs. 35

It has been brought to our attention that a brokerage firm has been disseminating misinformation. CBRE and LAPMG welcome direct contact from any prospective buyers regarding all questions, and are pleased to represent buyers directly.

BIDS DUE: WEDNESDAY, APRIL 11, 2018 BY 5:00PM

www.JeffersonTriangle.com

SEPULVEDA BLVD

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SANTA MONICA

PACIFIC OCEAN MALIBU

MARINA DEL REY±3 ACRE CULVER CITY MIXED-USE DEVELOPMENT SITE FOR: ±200 RESIDENTIAL UNITS, COMMERCIAL, & RETAIL

LAURIE LUSTIG-BOWERLic. 00979360

+1 310 550 2556

[email protected]

KADIE PRESLEY WILSONLic. 01476551

+1 310 550 2575

[email protected]

DAVID CROWN Lic. 01157354

+1 323 255 9400 x224

[email protected]

KYLE CROWNLic. 01936385

+1 323 255 9400 x229

[email protected]

JEFFERSON TRIANGLE

BENNETT ROBINSONLic. 00984312

+1 818 907 4608

[email protected]

±3 ACRE CULVER CITY MIXED-USE DEVELOPMENT SITE FOR · d d d. h. santa monica pacific ocean malibu...

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