Manhattan Beach, California 90266...independent legal and financial advisors, and ... fully entitled...

OFFERING MEMORANDUM

THE MANHATTAN

1701 ARTESIA BOULEVARD

Manhattan Beach, California 90266

Capital Markets | Investment Proper ties

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of

companies with many subsidiaries and 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, including CBRE

Global Investors, Inc. or Trammell Crow

Company, may have or represent clients who

have competing interests in the same transaction.

For example, Affiliates or their clients may have or

express an interest in the property described in

this Memorandum (the “Property”), and may be

the successful bidder for the Property. Your receipt

of this Memorandum constitutes your

acknowledgement of that possibility and your

agreement that neither CBRE, Inc. nor any

Affiliate has an obligation to disclose to you such

Affiliates’ interest or involvement in the sale or

purchase of the Property. In all instances,

however, CBRE, Inc. and its Affiliates will act in

the best interest of their respective client(s), at

arms’ length, not in concert, or in a manner

detrimental to any third party. CBRE, Inc. and its

Affiliates will conduct their respective businesses

in a manner consistent with the law and all

fiduciary duties owed to their respective client(s).

Your receipt of this Memorandum constitutes your

acknowledgement that (i) it is a confidential

Memorandum solely for your limited use and

benefit in determining whether you desire to

express further interest in the acquisition of the

Property, (ii) you will hold it in the strictest

confidence, (iii) you will not disclose it or its

contents to any third party without the prior

written authorization of the owner of the Property

(“Owner”) or CBRE, Inc., and (iv) you will not use

any part of this Memorandum in any manner

detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no

further interest in purchasing the Property, kindly

return it to CBRE, Inc.

This Memorandum contains select information

pertaining to the Property and the Owner, and

does not purport to be all-inclusive or contain all

or part of the information which prospective

investors may require to evaluate a purchase of

the Property. The information contained in this

Memorandum has been obtained from sources

believed to be reliable, but has not been verified

for accuracy, completeness, or fitness for any

particular purpose. All information is presented

“as is” without representation or warranty of any

kind. Such information includes estimates based

on forward-looking assumptions relating to the

general economy, market conditions, competition

and other factors which are subject to uncertainty

and may not represent the current or future

performance of the Property. All references to

acreages, square footages, and other

measurements are approximations. This

Memorandum describes certain documents,

including leases and other materials, in summary

form. These summaries may not be complete nor

accurate descriptions of the full agreements

referenced. Additional information and an

opportunity to inspect the Property may be made

available to qualified prospective purchasers. You

are advised to independently verify the accuracy

and completeness of all summaries and

information contained herein, to consult with

independent legal and financial advisors, and

carefully investigate the economics of this

transaction and Property’s suitability for your

needs. ANY RELIANCE ON THE CONTENT OF

THIS MEMORANDUM IS SOLELY AT YOUR

OWN RISK.

The Owner expressly reserves 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 at any time with or

without notice to you. All offers, counteroffers,

and negotiations shall be non-binding and

neither CBRE, Inc. nor the Owner shall have any

legal commitment or obligation except as set

forth in a fully executed, definitive purchase and

sale agreement delivered by the Owner.

© 2018 CBRE, Inc. All Rights Reserved.

05 EXECUTIVE SUMMARY

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TABLE OF CONTENTS

PROPERTY DISCUSSION

AREA OVERVIEW

FINANCIAL OVERVIEW

LOCAL MARKET OVERVIEW

THE MANHATTAN

1701 Artesia, Blvd., Manhattan Beach

CONTACT US

JACK LEVIS

Senior Associate

+1 310 363 4919

[email protected]

Lic.01886278

MATT LEVIS

Senior Associate

+1 310 363 4787

[email protected]

Lic.01900634

DAVE SMITH

Senior Vice President

+1 310 363 4887

[email protected]

Lic.00991425

TIM VAUGHAN


+1 310 363 4888

[email protected]

Lic.00902652

EXECUTIVE SUMMARY

THE MANHATTAN

1701 Artesia Blvd., Manhattan Beach

5E X E C U T I V E S U M M A R Y

THE OFFERING

CBRE, Inc., as exclusive agent, is pleased to

present for sale The Manhattan, a premier, fully

entitled, development opportunity located at

1701 Artesia Boulevard in Manhattan Beach.

Boasting an irreplaceable Southern California

surf-and-sun location and surrounded by some

of the nation’s most appealing demographics

and residential communities, the property is

situated less than two miles from the beach

near the intersection of Artesia Boulevard and

Aviation Boulevard.

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THE OPPORTUNITY

This property can be purchased as a fully entitled development site or a completed mixed-use property.

Entitlement Overview:

• 13,409 square feet of land

• 13,066 rentable square feet

• Seven 2-bed / 2-bath condominiums

• Two 2-bed / 2-bath townhouse-style condominiums*

• 2,885 square foot medical / commercial office suite

• Residential parking: 2 stalls + 1 guest stall per residential unit ( 27 stalls )

• Medical commercial parking: 16 stalls

• On-site amenities include a ground-level pool on the northeast corner of the property

* Owners of the land will retain ownership of the two townhomes.

THE MANHATTAN


PROPERTY DESCRIPTION

FIRST FLOOR

1st

Story Condo A1 = 1,004 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

1st

Story Condo B1 = 1,058 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

1st

Story Condo C1 = 1,000 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

1St

Story Condo D1 = 1,003 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

Medical / Commercial Office = 2,885 Square Feet / 16 Parking Stalls

2 Story Townhome Condo 1 = 1,244 Square Feet / 2 Parking Stalls + 1 Guest Stall *

2 Story Townhome Condo 2 = 1,244 Square Feet/ 2 Parking Stalls + 1 Guest Stall *

SECOND FLOOR

2nd

Story Condo A2 = 1,220 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

2nd

Story Condo B2 = 1,220 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

2nd

Story Condo C2 = 1,205 Square Feet / 2 Parking Stalls Per Unit + 1 Guest Stall

* Owners of the land will retain ownership of the two townhomes.

THE MANHATTAN



Owner to retain unit below after construction is completed

THE MANHATTAN



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LOCATION DETAILS

• Rare opportunity for a fee simple, fully entitled development site for 9 residential units and 1 medical office space in the City

of Manhattan Beach

• Fully permitted and entering the construction phase

• Easy access to world class Manhattan, Hermosa and Redondo beaches

• Residential units have full access to high quality institutional level amenities

• Ideally situated within immediate proximity to the 405, 110 and 105 freeways and blocks from Pacific Coast Highway. Los

Angeles International Airport (LAX) is also a short drive away

• Manhattan Beach and Hermosa Beach retail nearby includes Target, Vons, CVS Pharmacy, Walgreens, Chase Bank, Wells

Fargo Bank, Starbucks and 24-Hour Fitness

• Local restaurants include Nick’s Manhattan Beach, Manhattan Beach Post, Uncle Bill’s Pancake House, North End Bar and

Grill, El Torito, Baja Sharkeez, The Rockefeller and many more

• Easy access to prime shopping, dining and entertainment venues along Manhattan Beach Boulevard in Manhattan Beach

and Pier Avenue in Hermosa Beach

• Local Class A retail includes Manhattan Village, The Point, Plaza El Segundo, and Plaza Hermosa

• Property is within Manhattan beach Unified School District and just blocks from highly regarded Mira Costa High School

THE MANHATTAN


SITE

THE MANHATTAN


CONTACT US

JACK LEVIS

Senior Associate

+1 310 363 4919

[email protected]

Lic.01886278

MATT LEVIS

Senior Associate

+1 310 363 4787

[email protected]

Lic.01900634

DAVE SMITH


+1 310 363 4887

[email protected]

Lic.00991425

Capital Markets | Investment Properties

TIM VAUGHAN


+1 310 363 4888

[email protected]

Lic.00902652

Manhattan Beach, California 90266...independent legal and financial advisors, and ... fully entitled...

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Transcript of Manhattan Beach, California 90266...independent legal and financial advisors, and ... fully entitled...