IN DOWNTOWN PASADENA - Pasadena - Shop. Dine. … ALLIANCE BEAUTIFUL & HIGHLY IMPROVED RESTAURANT IN...

Alliance

ALLIANCE

BEAUTIFUL & HIGHLYIMPROVED RESTAURANT IN DOWNTOWN PASADENA

336 S. Lake AvenuePasadena, CA 91101

COLDWELL BANKER COMMERCIAL ALLIANCE | 701 North Brand Blvd. Suite 800 Glendale, CA 91203 | www.cbcalliance.com

Bill Ukropina [email protected] BRE Lic# 00820557

COMMERCIAL

For Sale or Lease

Prime Restaurant Space in Downtown Pasadena

Edmund Sung [email protected]/Cantonese Speaker

© 2015 Coldwell Banker Real Estate Corporation. Coldwell Banker Commercial is a registered trademark licensed to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned And Operated Except Office Owned And Operated By NRT Incorporated. The information above is from sources we believe to be reliable. We have not verified its accuracy and make no guarantee about it. You and your tax and legal advisors should conduct your own investigation of the property and transaction.


BUILDING DESCRIPTION: • Rare state of the art highly improved restaurant • Parking available in front of building on South Lake

Avenue and in large parking area directly behind on Shoppers Lane

• Abundant surrounding retail amenities • Center of prominent South Lake Avenue District in

Downtown Pasadena • Over 1 million square feet of office space and many

large corporations within 3 short blocks • Near high-end Oak Knoll and San Marino residential

areas, five-star Langham Hotel and Caltech University • Existing Type 47 Liquor License that can be transferred

(sold) to Buyer* • Existing FF&E available for purchase

*Type 47 liquor license and FF&E not a part of sale, must be purchased separately

BUILDING INFORMATION:Sale Price: $5,200,000Floor Area: ±6,000 SF (includes Mezzanine)APN: 5735-032-009, 5735-032-015Zoning CD - 5Year Built: Fully renovated in 2012Lot Size: ±13,322 SF (2 parcels)Parking: Very large parking area in rear of building (±8,819 SF)

Demographics:2015 ESTIMATES 1.0 MILE 3.0 MILES 5.0 MILES

2020 Est. Projection Population 32,879 212,535 568,237

2015 Estimate Population 31,754 206,455 552,745

2015 Est. Average HHI $87,634 $101,935 $91,373* Source: CoStar

Traffic Counts:Collection Street Cross St. Traffic Vol. Count Year

S. Lake Ave. E. Del Mar Blvd. 28,918 2014

S. Lake Ave. Cordova St. 34,417 2014

Sale Price: $5,200,000Lease Rate: $25,000/mo. NNN

Prime Restaurant Space in Downtown Pasadena

* Source: CoStar


FOR MORE INFORMATIONCALL 626.509.1000

Alliance© 2015 Coldwell Banker Real Estate Corporation. Coldwell Banker Commercial is a registered trademark licensed to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned And Operated Except Office Owned And Operated By NRT Incorporated. The information above is from sources we believe to be reliable. We have not verified its accuracy and make no guarantee about it. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

SUBJECT PROPERTY336 s. lake avenue

Surrounding Amenities:


Pasadena Area Overview:Pasadena is located 10 miles (16 kilometers) northeast of downtown Los Angeles. The city is bordered by the San Gabriel Mountains to the north and 8 cities: La Canada Flintridge, South Pasadena, Arcadia, Sierra Madre, San Marino, Glendale, Los Angeles and unincorporated Altadena.

Major employers in the city include the California Institute of Technology/Jet Propulsion Laboratory, Huntington Memorial Hospital, Bank of America, Kaiser Permanente, Pasadena City College, Guidance Software, One West Bank, Western Asset Management, East West Bank, OpenX, and Parsons Corporation. The City of Pasadena has over 7 million square feet of office space.

Pasadena has an ideal climate for business. Virtually no other city of its size is home to more internationally known businesses than Pasadena. One of the key reasons is the highly educated workforce resulting from the presence of many renowned educational and research institutions located in Pasadena. The majority of Pasadena’s labor force of 100,000 is employed in professional, managerial, sales and clerical positions. Approximately 40% are employed in manufacturing, light industrial companies and service industries.

Pasadena is headquarters to Parsons Corporation, Western Asset Management, Tetra Tech, OneWest Bank, and the J. G. Boswell Company, among others. By far the two largest employers are the California Institute of Technology (Caltech) and the Jet Propulsion Laboratory. Many emerging technology-related businesses trace their roots to these institutions, and newly created office space and research facilities are attracting many more technology related companies.

Accessibility throughout Pasadena and to all of Greater Los Angeles, Southern California as well as the world beyond is another of the many benefits of locating in Pasadena. Gold Line Light Rail system, connecting Pasadena with Los Angeles, provides easy access from six stations located throughout Pasadena to downtown Los Angeles Union Station with connections to virtually any location in Greater Los Angeles. Given Pasadena has secured itself as one of the most desirable business locations in the greater Los Angeles area, investor demand will continue to rise ultimately pushing property values and rental rates to pre-recession levels.

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Rent vs. VacancyGreater Pasadena Commercial Market

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Vacancy by CityPasadena and Surrounding Markets

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Prime Restaurant Space on South Lake Avenue

Bill Ukropina [email protected] BRE Lic# 00820557

Edmund Sung [email protected]/Cantonese Speaker

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Trattoria Neapolis Key Information and Summary Description The Project Prior to conversion into Trattoria Neapolis, 336 South Lake had been a well-known Jewelry Store in Pasadena called B.D. Howe, and after that a real estate office for Dickson Podley Properties. The current owners purchased the property in 2010 after a 3 ½ year search for the best location for a new upscale restaurant. An extensive total renovation of the building was undertaken. Most of the roof was removed, the walls were taken down to the studs, and the floor was taken down to the dirt. The design and architectural process took nearly a year. Obtaining all the necessary governmental approvals took one and a half years. Major electrical service, structural and other upgrades were made. The new restaurant opened in July of 2012 and has been called one of the most beautiful restaurants in the area. Power An important and expensive part of the project was a major upgrade to the building’s power. This process took over a year to get approved and involved city agencies ranging from the Department of Water and Power, Public Works, the South Lake Parking Place Commission and many others. It required trenching the entire width of the parking lot to reach the main power line underneath Mentor Street and the installation of a new electrical vault beneath the parking lot. This vault is located in the portion of the parking lot that is also owned by the current building owner. Structure Another significant cost was an upgrade of the structure to current building codes standards including earthquake standards. The balcony area, for example, had to be demolished and then re-built to bring it up to current standards. Most of the roof had to be re-designed and re-built. Frames of massive I-beams anchored by large reinforced concrete pads were installed in multiple places along the building’s length. This work was designed by a separate structural engineer coordinated by the main architect. Additional Property Acquisition Part of the project included a long, complicated acquisition of interests in a portion of the parking lot directly behind the building. This portion of the parking lot was co-owned by three different property owners when the current owners purchased the building. Eventually the acquisition was complete so that ownership of this portion of the parking lot can be acquired along with the building itself. Parking The very large parking lot directly behind the building is a major asset. Parking is free for 90 minutes during the day, and free for an unlimited amount of time in the evening. The lack of restaurants on this block--as opposed to the block to the north which is primarily restaurants--means that parking is generally much more available on this block. Customers of the restaurant frequently sited the availability of convenient, free parking as a major asset.


South Lake Area South Lake was Pasadena’s original major commercial hub. South Lake has by far the largest concentration of office buildings in the Pasadena area. There is a concentration ofhigh-density residential units in the immediate area, with high end single family homes nearby including the very upscale Oak Knoll neighborhood. The current mayor, local real estate professionals and others familiar with the area have commented that the retail on South Lake is moving from general retail to more of a focus on restaurants.

Restaurants on South Lake The South Lake restaurant mix includes local, regional and national restaurants—fullservice and fast casual. Long time restaurants include two restaurants from the Smith Brothers, the most successful, long time local restaurateurs, and a restaurant from theDrago group, one of LA’s premier restaurant groups. Local independent restaurants such as Abricott have also found success. There are also a large number of fast casual restaurants including the successful Lemonade and Veggie Grill chains. Recently the development of restaurants on the street has accelerated following the arrival of two major upscale national restaurants to South Lake. Del Frisco’s Grille is part of the Del Frisco Group that includes Del Frisco’s Double Eagle and Sullivans. They are located tothe north of the building on South Lake and opened this past November with big success. Paul Martin’s American Grill is part of the Fleming Restaurant Group that was acquired by Blooming Brands—one of the world’s largest casual dining companies with over 1,500 restaurants in 48 states and 21 countries. They are slated to open this November just south of the building. The fact that these two sophisticated restaurant companies analyzed the Pasadena area and choose South Lake as the place to be is a large vote ofconfidence for the area as a prime restaurant location. Recently the much lovedSugarfish sushi restaurant, with locations from Beverly Hills to Calabasas, has also started construction on a South Lake restaurant.

Overview of Interior Design Elements The great majority of the lighting fixtures were custom made for the restaurant by Steven Handleman Studios of Santa Barbara. The decorative wall tile is by Tabarka Studio and sourced through Mission Tile. Tabarka handcrafts tiles in a detailed artisan process inwhich each tile is made and painted by hand. Mosaic floor tile add the old world feeling of the restaurant. The two mosaic floor logo tiles were custom created by tile artisans inNew York and fitted into the custom wood floor. The wrought iron work in the restaurant is all custom as is the millwork throughout. The antiqued, old world lookof the wood flooring is by du Chateau, one of the premium providers of commercialflooring. All the antiqued mirrors were custom created for the restaurant in a process thatrequired at least a dozen iterations to get just the right look. Where the walls are not tiled, there is hand troweled plaster with real plaster moldings cast by artisan plaster makers for the restaurant.

Interior Sound and Acoustics Acoustical engineers consulted on the project to assess the best way to create a proper acoustical environment. The challenge was that most acoustical materials have a very


modern look not in keeping with the old world design. The antique design tin ceiling tiles in the front two areas is actually perforated by thousands of tiny holes to allow sound to penetrate the tiles. Behind the tiles are layers of acoustical dampening material to control ambient sound. In areas of the restaurant without this special acoustic tin ceiling tile, there is plaster—but a very special kind of plaster. Though it looks like ordinary plaster, this is high tech acoustical dampening plaster that further controls sound. Finally, in the Wine Room upstairs, the vintage winemaking photos along the wall actually hide acoustical dampening material behind them. Sound System The sound system was custom engineered for the restaurant by the Sound Specialists who do work for major restaurant companies such as Hillstone/Houstons. The restaurant is divided into zones that can be controlled in the manager’s office. There is also a sound controller at the host stand so that as the restaurant fills in the early part of the a service and then slows empties at the end, the sound levels can be easily and conveniently adjusted to maintain a perfect ratio of music to ambient sound. Recorded sound may be played throughout the restaurant from a source in the manager’s office. Provided sources include an iPod dock as well as a DMX/Pandora commercial system. Other sound sources can be added to the main amplifier system. Additional special sound features of the Wine Room will be described in the section on that room. Interior Lighting and Environmental Systems The interior lighting is orchestrated by a state of the art computer controlled Marlin brand lighting system. The main controls for the Marlin system are in the manager’s office with satellite control panels upstairs in the wine room and near the host stand area, with a smaller panel near the east entrance of the restaurant. This system allows each set of lights in the restaurant to be programmed at its own level for a particular dining “scene,” and of course many different scenes can be created. These scenes can then be programmed to fade in and out at prescribed times. Programming can also be overridden to best suit the day-to-day operation of the restaurant. HVAC and heating controls are conveniently but discretely located together on the wall near the elevator. The restaurant is divided into multiple zones by area, which can then be programmed to different target temperatures at different times throughout the 24 hour day to maximize customer comfort as well as energy efficiency. Water Softening, Filtration and Heating System, Central CO2 System The restaurant has been piped and fitted for a significant water softening and filtration system in coordination with Eversoft. Filtration tanks and softening equipment can be rented to connect to the system. There are also tankless water heaters on the roof controlled by a controller in the manager’s office. There is also a central CO2 tank system which can be filled by a CO2 truck from a connection outside without entering the restaurant. This system distributes CO2 to the soda and beer systems throughout the restaurant. Security Systems The restaurant is equipped with a security alarm system with motion, glass breakage and


other sensors throughout the restaurant. The system is monitored by San Marino security. Various options are available upon the tripping of an alarm, from manager notification to police dispatch. The restaurant is equipped with fire sprinklers and a fire alarm system. An extensive Talon brand system of 28 cameras with throughout the restaurant provide very good visibility and record on a large hard drive. All controls for the system are in the manager’s office. The system has a number of unique and powerful features including an integration with the Aloha POS system. This means, for example, that register transactions are recorded on the video along with images themselves and can be searched by the video system based upon items ordered, items comped, which staff is clocked in at the time, etc. The owner’s office includes a big screen TV that also has a direct, rotating feed of cameras from the security system. The East door, through which deliveries occur, has a dedicated camera with a flat screen monitor on the main cookline in the kitchen and a doorbell at the East entrance. This allows staff who are prepping in the morning when deliveries occur, to see who is at the back door before letting them in, and then to do so via a remote buzzer system so they don’t have to leave the cookline. The owner’s office and the manager’s office are both provided with commercial safes. Both offices also have heavy duty steel doors with individual locks as does the Dry Storage Room where wine and liquor are kept. Separately keyed cages in the Dry Storage Room allow wine and liquor to be kept secure when other dry storage items are accessed. Point of Sale System The restaurant is wired for a high-grade commercial point of sale system. A seven terminal Aloha brand system is currently installed. Elevator and Staircases This two-story building has an elevator as well as front and rear staircases. The front staircase is intended for customer access to the upstairs and in practice is used by virtually all customers, while the rear staircase is intended for staff. The elevator tends to be used only by patrons who have difficulty walking. It’s also conveniently located to facilitate the delivery of kegs to the keg cooler, wine and liquor to the wine and liquor cages, and racks of dough to the retarder/proofer unit. Overview of Dining Areas The restaurant has five distinctive dining areas, each with it’s own personality. All tables are custom made in either wood or wood inset with imported Italian Calacatta d’ Oro marble. The Garden Room features European café chairs and all other chairs are custom made in dark wood and neutrals. South Lake Entrance This entrance has a large canopy that provides both signage for the restaurant and a visually appealing front entrance. Two sets of wrought iron tables and chairs with umbrellas further draw in the eye to the restaurant as well as providing a bit of outdoor seating. All the iron work on the front façade is custom. The big screen TV in the glass case on the North wall of the exterior entrance plays a video on a loop to entice pedestrians into the restaurant. The glass case on the South wall is illuminated and set up


to display menus and notices. There are built in data and power ports to allow the set up of a satellite hostess or server station as well. There is a built in hose bib at the front as well, discretely hidden by a metal door. Taken together, the elements of the South Lake façade provide a “red carpet” entrance experience for diners. Garden Room Dining Area With nearly twenty-foot ceilings, this dramatic westernmost dining room creates the feeling of an alfresco dining experience while being fully enclosed. The floor is an actual cobblestone as one would see outdoors in Europe. Inset into the cobblestone is a “carpet” of imported English garden tile in shades of laurel and ivy. The walls feature dramatic arches of Tabarka tile alternating with antiqued mirror. Custom wood planters hold artificial plants, but are also set up with drainage to accommodate real plants. Most windows on the western side of the room are operable to allow fresh air and enhance the outdoor feeling of the room. Also enhancing this feeling is the large skylight in the ceiling that floods the room with natural sunlight. Hidden custom electric shades controllable from the host stand allow for control of outdoor lighting. In the evening the large number of chandeliers, pendant lights and wall sconces create a magical glow in the room. The massive, custom made central table can seat up to 12 as a banquet table or can serve as a buffet table for less formal gatherings. There is an electrical outlet underneath the stretcher of this table. The room has a dedicated POS terminal and a satellite server station. In a standard configuration the room seats 16 on each side plus 10 to 12 on the central table, though up to 50 can be accommodated for banquets. Host Stand Area The host stand area contains data lines for phone and Open Table systems as well as control panels for the electric shades in the Garden Room, for sound levels in different areas of the music system and for the lighting system. The custom made host stand contains a number of storage features. Bar/Lounge Area This area benefits from near 20 foot tall ceilings. The massive back bar was custom made for the restaurant. It features liquor display and storage on the lower levels and wine display and storage on the upper levels. Crowning the back bar is a custom made marble clock. The bar top is custom made from imported Calacutta d’Oro Italian marble. Bar stools are all custom. The bar features two large wells and a fourteen tap draft beer system. A high end La Marzocco espresso machine with grinders and other espresso equipment anchors one end of the bar, and a vintage Italian prosciutto slicer anchors the other end. The lounge area features deep booths that are customer favorites. They allow for a degree of privacy while still allowing guests to feel the energy of the bar area. “Cucina” Dining Areas The dining areas near the open kitchen afford customers an opportunity to experience the activity of the kitchen. The booths near the wood burning oven offer more privacy, while the banquette allows for a more convivial atmosphere. Across from the banquet, a large window into the pastry area allows guests to see their desserts being plated. The very private booth at the far end of the Cucina area is perfect for groups who want an intimate


experience. Open Kitchen The front Open Kitchen is the heart of the restaurant. It features a massive wood burning oven made in Naples by Stefano Ferrara, perhaps the greatest hand craftsman of wood burning ovens in Italy. The oven is covered by a custom mosaic of tiles that is one of the most striking features of the restaurant. The kitchen also features a custom made wood burning grill, a pasta cooker, fryer, two ranges, a piano top, three ovens and other top quality equipment. A separate pastry and dough area features an imported Italian double diving arm mixer as well as easy access via the nearby elevator to the dough retarder-proofer upstairs. Rear Kitchen The rear kitchen area features a large dishwashing area, the restaurant’s main ice maker, a large walk-in refrigerator as well as a good amount of rear prep space and storage space. East Entrance The parking lot entrance to the restaurant features its own canopy which leads to an interior hallway with a floor of mosaic tile and with custom wood work on the lower portion of the walls with plaster, tile and antiqued mirror above. This creates a beautiful and dramatic entrance for guests using the large parking lot directly behind the building. The semi-circular counter at the end of this hallway is set up with data and phone cables to function as a second host stand, with shelves and refrigerated display case to function as a small retail area, and its direct access to the dishwashing area behind it also make it perfect for a polishing station. Service Area/Trash Room Just outside the East entrance of the building is the service area/trash room. This room houses the dumpster for the restaurant, an electrical panel, and storage space for items like a linen bin, a grease container, and so on. The room is accessible by the single door near the restaurant’s east entrance and also by double metal doors facing the parking lot. Balcony Dining Area The upstairs balcony has the feeling of an intimate space, while allowing diners a commanding view of the activity of the bar area below. A large mural of a seaside Italian town fills most of the west wall of the balcony. This area can be configured as a semi-private space for banquets that can seat approximately 20 guests in a single long table. Wine Room Dining Area Promoting the sale of great wine was in important design goal. Dividing the balcony area from the Wine Room is a large temperature controlled Vinotemp wine storage unit that holds over 1,000 bottles of wine, and that showcases the importance of wine to the restaurant. There is also a smaller, custom made Vinotemp unit at the entrance of the Wine Room that serves as a kind of showcase for high value wines. Finally, the west wall of the Wine Room is actually a wall of wine in the form of a custom made wood and glass wine storage unit. The brick barrel vaulted ceiling and east wall of the Wine Room


creates the feeling of a wine cellar. This is enhanced by the vintage wine making photos on the east wall. The Wine Room can be set up in a banquet configuration with long tables to seat approximately 30 guests. It’s also a favorite for presentations, since it features a big screen TV with computer connections to allow for presentations, slide shows, etc. Custom, customer sound tracks can also be played in the Wine Room via hookups for iPod, or on laptop. There are also connections for a microphone. Banquets As indicated, the restaurant is designed with three key areas, which function well for special events and banquets of different sizes: up to 20 guests in the balcony, up to 30 guests in the Wine Room and up to 50 guests in the Garden Room. A variety of wine dinners, beer dinners, company events, charity dinners, pharmaceutical presentations, and so on have taken place in these spaces. Customer Bathrooms Customer bathrooms are located on the second floor near the Wine Room. They feature an abundance of imported tile and other beautiful appointments and actually received their own write up in an article about the restaurant. The men’s restroom has a storage closet inside the stall area, and there is a janitor’s closet with a floor sink between the two customer bathrooms. Upstairs Back of House A larger server area is directly adjacent to the Wine Room, which serves the upstairs dining areas. The upstairs back of house also features a number of features important to the operation of the restaurant including: a large keg cooler which serves the 14 tap draft beer system, a roll in dough retarder/proofer, a separate employee bathroom, a locking dry storage room including separate locking wine and liquor cages, two offices, employee lockers, storage areas and a mechanical room that houses the phone system and the water filtration and softening systems. The manager’s office is set up as a main control center of the restaurant. It contains the server for the POS system, the camera systems and monitor, the sound system and control panels for the tankless water heaters, the custom lighting system and other systems. Contractor Cal-Asia Construction Contact: John Murawski 323-256-2943 calasiaconstruction.com Cal Asia is one of the premier restaurant builders in Southern California. They’ve completed over 400 projects and built many iconic LA restaurants such as Mozza, Gjelina, Animal, Bacao Mercat, Laurel Tavern, Wurstkuche, Connie & Ted’s, Plan Check, Superba, and Tatsu Ramen. They have a full staff of not only project managers, superintendants and administrative staff, but also finish carpenters, concrete specialists, framers and general laborers that together allow projects to be completed in a timely,


effective and cost efficient manner. Cal-Asia has as clients many of the major LA restaurant groups including Wolfgang Puck, the Patina Group and SBE. Interior Design & Kitchen Design Hatch Design Group Contact: Todd Hatch 714-979-8385 hatchdesign.com Celebrating 43 years in hospitality design, Hatch Design Group offers a unique fusion of interiors resulting in environments that are successful in both form and function. Restaurant clients include King’s Fish House, Water Grill, Lazy Dog Café and Umami Burger and many others. Their expertise ranges from fine dining restaurants and casual restaurants to hotels and casinos. They are approved with 74 national and international hotel brands including Hilton Worldwide, Marriott International, Wyndham Hotels and Resorts, and Host Hotels. They are unique in featuring a full service in-house kitchen design group so that the kitchen layout and equipment functions seamlessly with the overall restaurant design. Architecture Architect’s Design Consortium (ADC) Contact: Craig Oka, AIA, President 714-777-9734 adc-usa.com ADC is a full service architectural firm specializing in restaurant and hospitality work. The President, Craig D. Oka, AIA, is thoroughly experienced in all aspects of the profession, including programming, architectural design, design development, construction documents, bid administration, and construction administration. He is involved on a day-to-day basis, and personally oversees each project within the office. Clients include King’s Seafood Company, The Cheesecake Factory, Lazy Dog Café, Tin Roof Bistro, Grand Lux Café and Rock Sugar. (Note: all information above is believed to be generally accurate, but all parties are responsible for making their own independent investigation and determination of whatever information they believe to be relevant to their purchase or lease decision)

IN DOWNTOWN PASADENA - Pasadena - Shop. Dine. … ALLIANCE BEAUTIFUL & HIGHLY IMPROVED RESTAURANT IN...

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