CREATIVE OWNER/USER

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3450 Cahuenga Boulevard, Los Angeles CA 90068 CREATIVE OWNER/USER

Transcript of CREATIVE OWNER/USER

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3450 Cahuenga Boulevard, Los Angeles CA 90068

CREATIVEOWNER/USER

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The material contained herein is confidential and is presented strictly as information for the exclusive use of the prospective purchaser. Acceptance of this offering by the prospective purchaser constitutes an agreement not to divulge, share or distribute the information to any other party, except legal counsel and financial advisors, without the specific written authorization of the Seller or Lee & Associates.

The materials herein have been obtained from sources believed to be reliable. Nevertheless, the Seller nor Lee & Associates make no warranties or representations, expressed or implied, concerning the accuracy or completeness of this information. This document is submitted subject to errors, omissions, changes in price; rental, market or otherwise and withdrawal without notice.

No broker or agent, other than Lee & Associates Seller’s exclusive representative, is authorized to present this investment opportunity.

Interested buyers should be aware that the owner (the “Seller”) of the property known as 3450 Cahuenga Boulevard, Los Angeles CA 90068 (“Property”) is selling the property in “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE, EXCEPT WARRANTY OF TITLE. Prior to and/or after contracting to purchase as appropriate, Buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of Buyer’s choosing.

Buyer shall not be entitled to, and should not, rely on the Seller, or its agents as the (i) the quality, nature, adequacy and physical condition of the Property including, but not limited to the structural element, foundation, roof, appurtenances, access, landscaping, parking facilities and the electrical, HVAC, plumbing, sewage, and utility systems, facilities and appliances. (ii) the quality, nature adequacy and physical condition of soils and geology and the existence of ground water, (iii) the existence, quality, nature adequacy and physical condition of utilities serving the Property, (iv) the development potential of the Property, its habitability, merchantability, or fitness, suitability or adequacy of the Property for any particular purpose, (v) the zoning or the legal status of the Property, (vi)

the Property’s or its operations’ compliance with applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental, quasi-governmental entity or any other person or entity, (vi) the quality of any labor and materials, (viii) the compliance of Property with any environmental protection, pollution or land use laws, rules regulations, orders or requirements including but not limited to those pertaining to the handling, generating, storing or disposing of any hazardous materials, and (ix) except as expressly provided otherwise in an executed contract of sale, the condition of title and the nature, status and extent of any right-of-way, lease, right of redemption, possession, lien, encumbrance, license, reservation, covenant, condition restriction and any other matter affecting the title. Although Seller’s predecessors may have performed work, or contracted for work performed by third parties in connection with the Property, the Seller, and its agents shall not be responsible to Buyer or any successor on account of any errors or omissions or construction defects of such predecessors and/or third parties.

The Seller reserves the right to withdraw the property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent, (ii) incorporated in a formal written contract of purchase and sale to be prepared by or on behalf of the Seller and executed by both parties; and (iii) approved by Seller, and such other parties who may have an interest in the Property. Neither the prospective Buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and constitute the sole agreement of the parties.

The Seller shall not be responsible for the payment of any commission, finder’s fee or other form of compensation to Buyer’s broker other than as set forth in Seller’s commission agreement with Lee & Associates-LA North/Ventura, Inc.

SELLER AND ITS AGENTS MAKE NO REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION.

DISCLAIMER

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THE OPPORTUNITY

Lee & Associates®-LA North/Ventura, Inc.Corporate ID #01191898A Member of the Lee & Associates Group of Companies15250 Ventura Boulevard, Suite 100Sherman Oaks, CA 91403818.986.9800 Main | 818.933.0405 Fax

FOR MORE INFORMATIONPLEASE CONTACT:

SCOTT ROMICKPrincipal/Managing [email protected] # 01323527

DARREN [email protected] # 01425638

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EXECUTIVE SUMMARY

Lee & Associates, as exclusive commercial brokerage, is pleased to announce that we have been retained to represent the owner in the sale of a specific number of unique owner-user opportunities in one of the most unique real estate assets in this market – THIRTY FOUR FIFTY WEST. The campus consists of individual private separate entry commercial condominiums with the special added benefit of being designated “Live/Work”.

Designed and developed ahead of its time, THIRTY FOUR FIFTY WEST embodies everything that businesses and tenants look for in today’s office market…..a productive workplace environment with emphasis on light, space and contemporary design. With high-quality construction of only 10 years old that is unparalleled in this market of properties that average over 60 years old. THIRTY FOUR FIFTY WEST community is complete with lush tree-lined streets and outdoor amenity spaces for tenants use such as BBQ and lounge area with fireplace, ping pong table, dog walk, valet parking etc.

The campus lies at the crossroads between the East Valley Media and Entertainment area and Hollywood, central to all of the main Film and TV studios, new and old mediums. Occupiers walk to a variety of great amenities including restaurants, bars, gyms, an outdoor park and so much more. With immediate multiple freeway access points and roads to all major destinations in the surrounding areas, THIRTY FOUR FIFTY WEST is an ideal location for many types of businesses who want to be close to their clients.

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PROPERTY DESCRIPTION

CONNECTEDOUTDOOR SPACE

GAMEFACILITIES

PROXIMITY TOAMENITIES

CENTRALLOCATION

CREATIVECULTURE

The community includes:

� Individual units with separate private entrance

� Units range from 1,921 sf to over 6,000 sf

� Each unit is designed with top-tier finishes

• 12-foot ceilings at the ground level

• Expansive second floor work area with 18-foot exposed beam high ceilings

• Third floor allows for privacy as well as viewing of the main space

• Ground floor for studio space, work area, parking or a mix of all

• Walls are concrete filled concrete block which allows for excellent sound attenuation

• Operable windows

• All units have 2 usable private balconies.

• Most units have private yards

See the Opportunity List on page 18

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PROPERTY HIGHLIGHTS

� THIRTY FOUR FIFTY WEST is a unique development that enjoys a superb location in the heart of the entertainment and media corridor

� Each unit floor plan is distinctively unique featuring three story units with exposed concrete block walls, beams and wood floors blending the creative industrial loft feel with the bright and breezy vibe of Southern California.

� Tenants of THIRTY FOUR FIFTY WEST can walk to restaurants, coffee houses, theatres, music venues, gyms and parks within a safe and pedestrian friendly neighborhood.

� A sought after street, Tenants have immediate access within 5 minutes walking distance to over 15 food and drink establishments as wells as a popular LA Fitness facility and public park.

� The location also is just down the street from Universal Studios and the retail mix of the CityWalk and NBC/Comcast headquarters as well as a short drive to Warner Brothers, Disney, CBS and Burbank Studios on the Valley side and a multitude of media companies a couple miles away in Hollywood.

� Burbank, Universal City, North Hollywood, Studio City and Hollywood are well known for their large concentration of media and entertainment employers covering the full spectrum of animation, film, television, radio, music labels and media with more studio production square footage than any place in the world.

� Close to the Universal Studio lot, Metro station to catch the Red Line South to Hollywood and DTLA or north to North Hollywood. Bus #237 just outside the property. Freeway access one block from the northbound 101 freeway on/off ramp and .4 miles from the southbound on/off ramp.

Community Amenities

� Community private streets

� Private Lounge areas with BBQ and eating areas

� Game area

� Dog walk

� Valet visitor parking

� Secured entry gates

� Excellent views of the surrounding Hollywood Hills

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WHY THIRTY FOUR FIFTY WEST? WHY NOW?

� One of the easiest properties to own

• Move in ready, low maintenance, lower ownership costs and management

� The Creative design style is in demand

• Majority of businesses/tenants want a creative, contemporary look and feel for their workplace

• Creative campus and office communities are one of the top trends for users

� Optionality for small businesses

• Will accommodate small users that can’t find a building properly sized for their own use

• Units of 1,921 and 2,361 sq. ft. with ability to combine units for over 6,000 sq. ft.

� Priced lower than comps

• The average purchase price is $532 per sq. ft. compared to $629 psf for similar sized single tenant properties sold in the past three years in the area….and with much less improvements required in comparison

• Time to buy - prices per sq. ft. have risen for the past 5 years and forecast to continue (Costar Reports)

� Commercial office market continues strong

• Studio/Universal Cities office ask rents have gone up ±4.1% YTD with forecast of 4.1% for the next 12 months (Costar Reports). Stop paying rent and not be in control. Time to invest in your future.

� Be a part of an energetic and safe community

• A fantastic mix of entertainment and creative businesses

� New Construction / Better Construction

• Built just 10 years ago vs average age of similar sized single tenant user assets in area of over 60 years old. Reduces upfront costs to renovate, update and repair the property

• High end quality improvements of finishes, walls, doors, windows etc.

� Faster and easier purchase, escrow and due diligence process

� No new construction planned in near future

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PROPERTY OVERVIEW

Zoning: LAC2-1VL Year Built: 2008

Unit Construction Specs

Windows: High end double-pane, both fixed and operable units.

Flooring: All living areas except bathroom are finished with clear coated strip hardwood floors. European porcelain tile and natural stone for bathroom floors and walls.

Walls: Mix of painted gypsum board or unfinished concrete block.

Doors: High end solid core contemporary metal clad doors

Roof Type: Flat, 60-ml mechanically-fastened, single-ply thermoset thermoplastic membrane

HVAC Systems: Rooftop packaged heat pump units (4T) used for ambient air Optional split system units used to cool garage spaces

Balconies: Aluminum-framed glass patio door with 2x composite Trex decking.

Fire Suppression: Wet-pipe sprinkler system, flush-mounted and concealed

Fire Alarm: Heat detectors and smoke/CO alarm horn/strobes, Hardwired-powered smoke/carbon monoxide detectors with battery back-up.

Foundation / Substructure: Concrete slab-on-grade with perimeter and interior footings under load bearing structures

Superstructure: Steel moment frames - Reinforced concrete filled concrete masonry unit (CMU) load bearing walls with metal deck on steel beams and joists

Façade: Reinforced concrete masonry units (CMU) with metal framed curtain wall with prefinished metal panels

Building Services

Electric: LA City Department of Water and Power. Unit subpanels 225 amps, single-phase, 3-wire distribution.

Water: LA City Department of Water and Power 50-gallon natural gas-fired hot water heaters

Gas: Southern California Gas Company with individual unit meters gas feeds kitchen and rooftop mounted mechanical systems

Sanitary Sewer: City of Los Angeles

Telecom Services: Spectrum Fiber; Spectrum Cable

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AERIAL VIEW

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PLOT MAP

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SITE PLAN

*Any unit can be made vacant and available for an Owner/User

LEASED INVESTMENTS*

OWNER/USER AVAILABLE

IN ESCROW

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UNIT A FLOOR PLANS | 2,361 SQ. FT.

GARAGE/GROUNDFLOOR C-PARKING

PARKINGC-PARKING

YARD

SECOND LEVEL

BALCONY

THIRD LEVELOUTDOOR DECK

FOURTH LEVEL

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UNIT B FLOOR PLANS | 1,921 SQ. FT.

GARAGE/GROUNDFLOOR

C-PARKING

PARKING

YARD

SECONDLEVEL

BALCONY

THIRD LEVEL

LOFT

BALCONY

FOURTH LEVEL

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UNIT BR FLOOR PLANS | 1,904 SQ. FT.

GARAGE/GROUNDFLOOR

C-PARKING

PARKING

YARD

SECOND LEVEL

BALCONY

THIRD LEVEL

BALCONY

FOURTH LEVEL

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PURCHASE OPTIONS

UNIT SIZE PRICE

411 1,921 SF $1,020,000

605 1,921 SF $1,015,000

609 2,361 SF $1,372,000

610 2,361 SF $1,372,000

907 1,904 SF $1,091,000

THIRTY FOUR FIFTY WEST is a fantastic opportunity for those companies that have been looking for small building to purchase for their own use.

*Other options may be available. Please call Broker for the master list and to discuss how we can accommodate your needs.

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OWNER-USER ANALYSIS

OWN vs. RENT ANALYSIS: Enclave 3450 Cahuenga (1,921 SF)Broker contacts: Lee & Associates - Scott Romick (818-933-0305, [email protected]) SBA/CDC/Bank Financing: Patty Griffin Globa (805-689-7974, [email protected]) Sasha Globa, California Statewide CDC (818-419-2360, [email protected])

Sample Property Size - SF: 1,921 SF 1,921 SF

per SF Amount per SF AmountLease Assumptions: Purchase Assumptions:

Rent per month $5,763 Building $528 $1,015,000Improvements $0 $0

Rent per SF MG $3.00 Total $528 $1,015,000

Start-up Costs: Start-up Costs:Prepaid rent and security deposit (2 mo.'s total) $11,526 Borrower cash down payment 10% $101,500Lessee TI costs, net of lessor TI allowance ** $0 $0 Estimated fees on 1st mortgage ** $2,537

Est. appraisal, enviromental, other fees ** $6,100Total startup costs $11,526 Total startup costs $110,137

Gross Monthly Costs: Gross Monthly Costs:Rent payment $3.00 $5,763 Mortgage payment * $2.52 $4,843Lease operating costs ** (including common area) $0.51 $970 Ownership operating costs ** $1.07 $2,052Gross monthly cash requirement $3.51 $6,733 Gross monthly cash requirement $3.59 $6,895

Lease Benefits: Ownership Benefits - excl. appreciation:Depreciation tax benefit at 21% tax rate $0 $0 Depreciation tax benefit at 21% tax rate $0.20 $377Approx. monthly principal paydown portion (equity) $0 $0 Approx. monthly principal paydown portion (equity) $1.07 $2,047Tax benefit on rent deduction at 21% tax rate $0.63 $1,210 Tax benefit on interest deduction at 21% tax rate $0.31 $587Tax benefit on operating costs at 21% tax rate $0.11 $204 Tax benefit on operating costs at 21% tax rate $0.22 $431

$0.00 $0 Lease income $0.00 $0$0 $0 Interest on startup cost difference (net of 21% tax) -$0.10 -$195

$0.74 $1,414 $1.69 $3,248

NET COST after lease benefits $2.77 $5,319 NET COST after ownership benefits excl. appreciation $1.90 $3,647

Est. appreciation benefit, per month $0.00 $0 Est. appreciation benefit, per month: $0.88 $1,692

NET COST after lease benefits $2.77 $5,319 NET COST after ownership benefits incl. appreciation $1.02 $1,955

Projected rent cost in Year 10:

Net rent cost (after tax benefits at 21% rate) $3.31 $6,350Assumed annual rent escalation 3.0%

GROWTH IN PROPERTY VALUE & OWNER EQUITY:

Assumed annual appreciation rate of 2.0%Borrower down payment (10%) $101,500

Property Value Loan Balance Owner Equity

Year 5 $1,120,642 $806,264 $314,378Year 10 $1,237,279 $659,134 $578,145Year 15 $1,366,056 $480,513 $885,544

* see financing assumptions in next section. Year 25 $1,665,215 $0 $1,665,215** see inputs section below for assumptions.

LEASE SCENARIO BUY SCENARIO

Disclaimer: This sample analysis is based on a series of assumptions, including loan interest rates and annual appreciation rates, and is meant only to be illustrative in nature. The analysis is not a guarantee of any actual results of any loan or purchase transaction or ownership of any real property, all of which are subject to risks, uncertainties and assumptions that are difficult to predict and beyond our control. No warranties or representations, express or implied, are made as to the accuracy of the information contained herein, and same is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, withdrawal without notice, prior sale, lease or financing. We include projections, opinions, assumptions or estimates for example only, and they may not represent future performance of the property. You and your financial and legal advisors should conduct your own evaluation of the property and transaction economics.

Financial Options Contacts:

SASHA GLOBA President SBA Premier Certified Lender (800) 982-9192 [email protected]

PATTY GRIFFIN GLOBA Senior Loan Officer (805) 689-7974 [email protected]

JOSH WARNER Assistant Senior Vice President (818) 291-6227 [email protected]

CDC/SBA 504 Loan

Bank 1st Trust Deed

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OWNER-USER ANALYSIS

OWN vs. RENT ANALYSIS: Enclave 3450 Cahuenga (2,361 SF)Broker contacts: Lee & Associates - Scott Romick (818-933-0305, [email protected]) SBA/CDC/Bank Financing: Patty Griffin Globa (805-689-7974, [email protected]) Sasha Globa, California Statewide CDC (818-419-2360, [email protected])

Sample Property Size - SF: 2,361 SF 2,361 SF

per SF Amount per SF AmountLease Assumptions: Purchase Assumptions:

Rent per month $7,083 Building $551 $1,300,000Improvements $0 $0

Rent per SF MG $3.00 Total $551 $1,300,000

Start-up Costs: Start-up Costs:Prepaid rent and security deposit (2 mo.'s total) $14,166 Borrower cash down payment 10% $130,000Lessee TI costs, net of lessor TI allowance ** $0 $0 Estimated fees on 1st mortgage ** $3,250

Est. appraisal, enviromental, other fees ** $6,100Total startup costs $14,166 Total startup costs $139,350

Gross Monthly Costs: Gross Monthly Costs:Rent payment $3.00 $7,083 Mortgage payment * $2.63 $6,198Lease operating costs ** (including common area) $0.47 $1,102 Ownership operating costs ** $1.05 $2,480Gross monthly cash requirement $3.47 $8,185 Gross monthly cash requirement $3.68 $8,679

Lease Benefits: Ownership Benefits - excl. appreciation:Depreciation tax benefit at 21% tax rate $0 $0 Depreciation tax benefit at 21% tax rate $0.20 $483Approx. monthly principal paydown portion (equity) $0 $0 Approx. monthly principal paydown portion (equity) $1.11 $2,619Tax benefit on rent deduction at 21% tax rate $0.63 $1,487 Tax benefit on interest deduction at 21% tax rate $0.32 $752Tax benefit on operating costs at 21% tax rate $0.10 $231 Tax benefit on operating costs at 21% tax rate $0.22 $521

$0.00 $0 Lease income $0.00 $0$0 $0 Interest on startup cost difference (net of 21% tax) -$0.10 -$247

$0.73 $1,719 $1.75 $4,128

NET COST after lease benefits $2.74 $6,466 NET COST after ownership benefits excl. appreciation $1.93 $4,551

Est. appreciation benefit, per month $0.00 $0 Est. appreciation benefit, per month: $0.92 $2,167

NET COST after lease benefits $2.74 $6,466 NET COST after ownership benefits incl. appreciation $1.01 $2,384

Projected rent cost in Year 10:

Net rent cost (after tax benefits at 21% rate) $3.31 $7,805Assumed annual rent escalation 3.0%

GROWTH IN PROPERTY VALUE & OWNER EQUITY:

Assumed annual appreciation rate of 2.0%Borrower down payment (10%) $130,000

Property Value Loan Balance Owner Equity

Year 5 $1,435,305 $1,031,850 $403,455Year 10 $1,584,693 $843,560 $741,132Year 15 $1,749,629 $614,965 $1,134,664

* see financing assumptions in next section. Year 25 $2,132,788 $0 $2,132,788** see inputs section below for assumptions.

LEASE SCENARIO BUY SCENARIO

Disclaimer: This sample analysis is based on a series of assumptions, including loan interest rates and annual appreciation rates, and is meant only to be illustrative in nature. The analysis is not a guarantee of any actual results of any loan or purchase transaction or ownership of any real property, all of which are subject to risks, uncertainties and assumptions that are difficult to predict and beyond our control. No warranties or representations, express or implied, are made as to the accuracy of the information contained herein, and same is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, withdrawal without notice, prior sale, lease or financing. We include projections, opinions, assumptions or estimates for example only, and they may not represent future performance of the property. You and your financial and legal advisors should conduct your own evaluation of the property and transaction economics.

Financial Options Contacts:

SASHA GLOBA President SBA Premier Certified Lender (800) 982-9192 [email protected]

PATTY GRIFFIN GLOBA Senior Loan Officer (805) 689-7974 [email protected]

JOSH WARNER Assistant Senior Vice President (818) 291-6227 [email protected]

CDC/SBA 504 Loan

Bank 1st Trust Deed

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AMENITIES

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AREA DEMOGRAPHICS

POPULATIONStudio City: 48,533Burbank: 107,702Hollywood: 90,322

MEDIAN AGEStudio City: 38Burbank: 41.7Hollywood: 34.8

EDUCATION | 4-YEAR COLLEGE DEGREEStudio City: 49.4%Burbank: 29.0%Hollywood: 30.0%

MEDIAN HOUSEHOLD INCOMEStudio City: $108,632Burbank: $67,317Hollywood: $41,307

MEDIAN HOME PRICEStudio City: $1,900,000Burbank: $710,000 - $1,154,000Hollywood: $949,000

RENT VS. OWNStudio City: 55.9% vs. 44.1%Burbank: 56.4% vs. 43.6%Hollywood: 92.4% vs. 7.6%

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LOCATOR MAP

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DRIVING DISTANCE MAP

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TRANSIT MAP

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LOCAL AMENITIES

ENTERTAINMENT/MEDIA COMPANIES1. Extasy Recording Studio2. DG Entertainment3. Creature Effects4. Joke Productions Abominable Pictures Panasonic Extreme Reach EPS-Cineworks5. Added Value Marketing6. Moving Art Pictures7. Atlas Digital8. LA Studios9. Digital Film Tree10. KPFK 90.7 FM11. Media Storage Group

12. NBC Universal Building13. Universal Studios14. Universal City Walk

SOCIAL(DINING & GYM)1. Kalye Hits Tokyo Cube2. Veggie House3. Starbucks Breakroom Bar and Cafe Kaban Persian Restaurant Cold Pressed Juice Bar4. nrGIZE5. Mercado6. Joe’s Falafel

7. In ‘n Out Burger8. Miceli’s9. Poquito Mas Good Neighbor Vegetable10. Panda Express11. Spitz Studio City12. Carls Jr.13. The Baked Potato14. Fatburger Fernandas NY Pizza Subway15. Solo Spin16. LA Fitness17. Ricky’s Boxing Gym18. Universal City Walk: Ben and Jerry’s • Blaze Pizza

Bubba Gump Shrimp Co. Buca di Beppo • Cinnabon Dongpo Kitchen Hard Rock Cafe It’s Sugar • Jamba Juice Margaritaville Johnny Rockets Karl Strauss Brewing Co. KFC Express Pizza Hut Express Ludobird • Menchie’s Mini Monster Panda Express Pink’s Famous Hot Dogs Pizza Hut Express • Poke Bar Samba Brazilian Steakhouse Smashburger • Starbucks

Subway • Taco BellThe Crepe CafeTony Roma’s • Vivo Italian KitchenWasabi at CityWalk

OTHER1. Hilton L.A./Universal City2. Sheraton Universal

METRO STATION1. Metro Station Universal City/Studio City

SUBJECT PROPERTY3450 Cahuenga Blvd.Los Angeles, CA

M

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AREA AMENITIES

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MARKET AREA & OVERVIEW

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MARKET AREA & OVERVIEW

Lodged squarely in the Cahuenga Pass, THIRTY FOUR FIFTY WEST is at the center of a triangle that connects Hollywood with Studio City and the Burbank Media District. The Cahuenga Pass has served as a connector for Hollywood for over a century – filmmaker Cecil B DeMille rented a wood cabin there in 1914 and rode daily to his studio on horseback with a revolver on his hip – and today, it continues that tradition, putting just about every entertainment and media-related business within a stone’s throw of the property.

Industry workers and residents can travel to any of these distinct Los Angeles submarkets in a mere five minutes, conceivably meeting with a screenwriter at Studio City’s CBS Studios, a production designer in Burbank and financial partners in Hollywood all before lunch.

Burbank, Media Capital of the World

Nearby in Burbank’s Media District are Walt Disney Company, Warner Brothers, Cartoon Network and Clear Channel Communications along with 700 media-related companies such as special effects, digital houses and production studios.

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The entertainment and media industries account for 30 percent of Burbank’s 150,000 workforce population, creating not only an industry cluster for anyone setting up shop at THIRTY FOUR FIFTY WEST, but also offering a market for anyone selling residential condos at the property.

Studio City, Where the Stars Seek Privacy

Though smaller, the Studio City submarket is similarly characterized by media and entertainment tenants and residents. It was here on a 20-acre campus that Mac Sennett set up a film studio in the 1920s. The campus later became CBS Studio Center, the centerpiece of the Studio City real estate development.

Today Studio City is still a community for the entertainment industry, albeit those that prefer a more private and low-key lifestyle. It’s not unusual to see the likes of Selma Blair, Selena Gomez, Vanessa Hudgens or Katherine McPhee darting in or out of Studio City’s main commercial street, Ventura Boulevard, to a local spa or workout class.

Studio City’s stretch of Ventura Boulevard is peppered with boutiques such as William B + Friends for women’s apparel, Architexture for home furnishings and lifestyle store mag.pi, along with chain stores including The Gap, Sephora and Urban Outfitters. There are pilates studios, yoga studios and barre studios and restaurants serving everything from sushi to organic farm fresh fare.

The Studio City Farmers Market, held each Sunday on a street just off Ventura Boulevard, was named “Most Kid Friendly Farmers Market” by Los Angeles magazine for its petting zoo, pony rides, inflatable slides and other attractions for kids.

These amenities, along with a luxury community of hillside homes with a median price of $1.6 million, have earned Studio City the No. 9 ranking (of 113) in Niche’s Best Neighborhoods to Live in L.A.

and No. 20 “Best Neighborhoods for Millennials.” StreetAdvisor.com ranks Studio City the No. 3 Best Neighborhood in L.A.”

Universal City and a Working Studio

Just down the road Universal City beckons tourists to one of the premier Los Angeles theme parks in the world. Less visible are the teams of industry professionals who spend their days at the working studios and sound stages that share the same campus.

Universal Studios Hollywood pretty much comprises all of Universal City, and its growth has been so explosive in recent years that Hilton Los Angeles/Universal City is planning a 15-story tower expansion and Sheraton Universal is planning to construct a 31-story,551-room addition.

Walk to Amenities

The immediate surrounding area of THIRTY FOUR FIFTY WEST offers a host of food and drink establishments, an LA Fitness facility and a public park, all within a safe, pedestrian friendly environment. At the same time, the property offers easy access to the Ventura/Hollywood (101) Freeway and the Universal City Metro Red Line stop.

MARKET AREA & OVERVIEW

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NeighborsNeighbors Neighbors

#thirsty

The Hollywood Hills project area offers a sophisticated array of pubs and cocktail lounges for the upscale clientele that live and work in the area.

Mercado Hollywood3413 Cahuenga Blvd WMore than 70 tequila options. Need we say more?

The Gray Tavern10964 Ventura BlvdCocktails with fresh juices and custom ingredients

Laurel Tavern11938 Ventura BlvdCraft beer on tap

Black Market Liquor Bar11915 Ventura BlvdCraft cocktails + 5 Kinds of Bloody Marys

Mister O’s11838 Ventura BlvdWine Wednesdays and more

#restaurants

Casual and upscale, many of these eateries also offer special events like wine nights where bottles are served half off.

Ca del Sole4100 Cahuenga BlvdGarden patio and happy hour all night long

Smoke House4016,4420 Lakeside DrFor meat lovers and star gazers

Vege-ta-ble3711 Cahuenga Blvd WComfy plant-based organic

Sugarfish by Sushi Nozawa11288 Ventura Blvd“Trust Me” menu

Joe’s Falafel3535 Cahuenga Blvd WNo pretense Mediterranean

The Six Chow House12650 Ventura BlvdShare with six

Pace Restaurant2100 Laurel Canyon BlvdArtful organics

Miceli’s3655 Cahuenga BlvdBring on the singing waiters

Spitz3737 Cahuenga BlvdMediterranean street food

Good Neighbor3701 Cahuenga BlvdBring the family for break-fast & lunch

#entertainment

Universal StudiosCity Walk1000 Universal City Plaza

Three blocks of movies, food, shops, dancing, and if that’s not enough, indoor skydiving.

SOME PROJECT AREA NEIGHBORS

#shops

ArchiteXture12232 Ventura BlvdCustom furniture & one-of-a-kind accessories

Stacey Todd Boutique13025 Ventura BlvdIsabel Marant, Phillip Lim and more

Bookstar12136 Ventura BlvdYes Virginia there is a bookstore and it’s housed in an old movie theater

Calleen Cordero13019 Ventura BlvdHandmade

The Hollywood Hills project area offers a sophisticated array of pubs and cocktail lounges for the upscale clientele that live and work in the area.

#nightlife

The Baked Potato 3787 Cahuenga BlvdJazz fusion and yes, baked potatoes

Hotel Cafe 1623 1/2 N Cahuenga BlvdThis way to discover a singer-songwriter

Firefly11720 Ventura BlvdLounge or dine till the wee hours

Rain Bar & Lounge 12215 Ventura BlvdSalsa si!

From jazz to salsa, there is something for every taste. Many of these popular night spots also serve dinner.

#Hotels

Sheraton Universal333 Universal Hollywood Dr

Hilton Los Angeles/Universal City555 Universal Hollywood Dr

BLVD Hotel & Spa10730 Ventura Blvd

#sushi row

Ventura Boulevard in Studio City is ground zero for some of the best sushi restaurants in L.A. So much so that it’s been dubbed Sushi Row.

Asanebo11941 Ventura Blvd

The Sushi House11388 Ventura Blvd

Dai Chan11288 Ventura Blvd

Nomura14622 Ventura Blvd

Kazu Sushi11440 Ventura Blvd

Katsu-ya11680 Ventura Blvd

Iroha Sushi12953 Ventura Blvd

Daiwa Sushi12415 Ventura Blvd

Sugarfish1128 Ventura Blvd

Page 29: CREATIVE OWNER/USER

FOR MORE INFORMATIONPLEASE CONTACT:

SCOTT ROMICKPrincipal/Managing [email protected] # 01323527

DARREN [email protected] # 01425638

Lee & Associates®-LA North/Ventura, Inc.Corporate ID #01191898A Member of the Lee & Associates Group of Companies15250 Ventura Boulevard, Suite 100Sherman Oaks, CA 91403818.986.9800 Main | 818.933.0405 Fax

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.