4401 wilshire blvd los angeles, ca · hon-michi church. vd wilshire united . methodist church...

JOEL FRANKSenior Vice PresidentLic. 0967530 +1 310 550 [email protected]

BLAKE FOLAssociateLic. 02013968 +1 310 550 [email protected]

OWNER-USER OR INVESTMENT OPPORTUNITY

SALES OFFERING MEMORANDUM

4401 WILSHIRE BLVD LOS ANGELES, CA

41,730 SF OFFICE BUILDING INCLUDING PENTHOUSE OFFICE/RESIDENCE

WEST HOLLYWOOD

WILSHIRE BLVD

• HIGHLY IMPROVED FOR ENTERTAINMENT USE

• PENTHOUSE OFFICE/RESIDENCE WITH ROOF DECK

• DIRECTLY ADJACENT TO MARCIANO MUSEUM AND EBELL THEATER

HOLLYWOOD

FREMONT PLACE ESTATES

WILSHIRE EBELL THEATER

MARCIANO MUSEUM

LARCHMONT VILLAGE

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FREMONT PL

4401 WILSHIRE

HOLLYWOOD

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4401 WILSHIRE

FREMONT PL

HANCOCK PARK

FREMONT PLACE ESTATES WILSHIRE

EBELL THEATER

WILSHIRE UNITED METHODIST CHURCH

MARCIANO MUSEUM

HON-MICHI CHURCH

WILSHIRE BLVD


FREMONT PLACE ESTATES


MARCIANO MUSEUM

HANCOCK PARK RESIDENTIAL DISTRICT

LARCHMONT VILLAGE

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PLYMOUTH BLVD

4401 WILSHIRE

TABLE OF CONTENTS

Executive Summary 5

Investment Highlights 7

Building Specifications 25

Building Specifications 26Site Plan 27Plat map Building Plans 29

Financial Summary 39

Replacement Cost Analysis 42Rent Roll 41Income & Expense Pro FormaOperating Expense History & Analysis

Location Analysis 39

Park Mile/Hancock Park 41Market Overview 42DemographicsMetro Purple Line 43

Market Analysis 45

Creative Office Building Lease Comps 46Creative Office Building Sale Comps 47



Affiliated Business Disclosure

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).

Confidentiality Agreement

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.

Disclaimer

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.

© 2017 CBRE, Inc. All Rights Reserved.

EXECUTIVE SUMMARY

WILSHIRE BLVD

FLOOR 4

FLOOR 3

FLOOR 2

ROOF DECK

PENTHOUSE “APARTMENT”

LOWER PARKING INGRESS

UPPER PARKING INGRESS& EGRESS

LOWER PARKING EGRESS

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| 8 |LOS ANGELES • CALIFORNIA

4401 WILSHIRE BLVD

ExEcutivE Summary

CBRE, as exclusive advisor, is pleased to present the opportunity to acquire the 100%

fee simple interest in 4401 Wilshire Boulevard in Los Angeles, CA (the “Property”).

4401 Wilshire is a 5 story, 41,730 sq. ft.. office building with subterranean

and surface parking. 4401 Wilshire is highly customized to accommodate film

production and post-production use; easily adaptable to “creative” open plan

architecture. 4401 Wilshire is located in the “Park Mile” district of Wilshire

Blvd, which is centrally located in the high-end residential neighborhoods of

Hancock Park and Fremont Place, with immediate access to the entertainment

hub of Hollywood, West Hollywood and Culver City. 4401 Wilshire has a

residential/office design for 4,086 SF; plus a wonderful roof deck.

The Property presents owner-users and investors with a rare opportunity to acquire an

ideally located, high quality office building with unique office/residence penthouse that

is centrally located and highly improved.

EXECUTIVE SUMMARY

OFFERING PRICE: $26,500,000

BUILDING SIZE 41,730 RSF

STORIES 5

FLOOR PLATE 12,548

YEAR BUILT 1963

RENOVATED 2000 & 2010

PARKING94 marked stalls (2.2/1000) *+/- 3.5/1000 w/ attendant

SITE AREA 23,000

APN 5055-021-005

ZONING LA-CR (PKM)

(Map: )

• Fully Secured System• Immaculate Condition • Modern HVAC• Renovated Elevators • Full Height Glass• Move-in Ready• Customize to Suit

INVESTMENT HIGHLIGHTS


4401 WILSHIRE BLVD

Investment HIgHlIgHts

INVESTMENT HIGHLIGHTS• Pride of Ownership - Operated during past sixteen (16) years by Associated

Television Incorporated

• Immaculate - Property is in immaculate condition with all building systems having been replaced or retrofitted (roof, HVAC, elevators, electrical)

• Beautiful Neighborhood - Property is in best part of Hancock Park residential district and directly next to new Marciano Museum and Wilshire Ebell Theater

• Owner-User - The building can be delivered vacant for an owner-use; presently has cash flow from short term leases on 2nd floor of 5,225 SF ($14,000 per month)

• Centrally Located - 4401 Wilshire is directly adjacent to Hancock Park and central to Hollywood, Downtown Los Angeles, and the “Westside”

• Exceptional Penthouse - The residentially improved 5th floor is comprised of 4,086 RSF plus fantastic roofdeck. This special floor, currently used as executive offices, is well suited for a private apartment for use by the principal investor (work/live)

• Free and Clear - The Property being sold free and clear of debt and with “clean” title delivered

• Barriers to Entry - This 5 story project is an irreplaceable asset after down-zoning of much of greater Los Angeles and limited opportunity to assemble development sites on Wilshire

• Exceptional Financing Opportunities - SBA program might yield as high as 90% LTV financing at highly competitive interest rates (see options in finance summary)

5 STORIES 41,730 RSF

94 PARKING STALLSRESIDENTIAL PENTHOUSE OPTION

IMMACULATE CONDITION

FINANCIAL SUMMARYCENTURY CITY

SANTA MONICA BAY

BEVERLY HILLS


MIRACLE MILE

PARK LA BREA

MARCIANO MUSEUM

WIL

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LVD

LUCERNE BLVD

HANCOCK PARK RESIDENTIAL DISTRICT

CULVER CITY

4401 WILSHIRE

WIL

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LUCERNE BLVD

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SANTA MONICA BAYCENTURY CITY


FInancIal summary • replacement cost analysIs

4401 WILSHIRE BLVD

4401 WILSHIRE REPLACEMENT COST ANALYSIS Description Consideration

Land Purchase

land area 23,400 sf“market” value/sF (1)1 $350 Total Land Purchase $8,190,000

Construction - Building

Building area 41,730

number of Floors 5 shell cost $225.00/sF $9,389,250 contingency 5% $469,462.50 tenant Improvements $65.00/sF $2,712,450 Housing linkage Fees $6.00/sF $250,380 architecture & engineering $250,000 permits, Fees & traffic $200,000construction - parking total square Feet 34,780 total parking costs $70/sF $2,434,600Total Hard Costs $23,896,143

Soft Costs (assumes 30 month lease-up) legal & accounting $200,000

construction loan Interest rate 6%2 $2,150,653 loan Fees 1% $238,961Developer Fee (4%) $955,845leasing commissions3 $876,330Total Soft Costs $3,959,465

TOTAL REPLACEMENT COSTS $28,317,932

FOOTNOTES:

1. Land sales comparables are approximately $300/sf-$400/sf along Wilshire Boulevard2. It is assumed that it will take 30 months to construct and lease-up the project to stabilization. Interest paid on 1/2 of the

total hard costs. Loan amount = Total Hard Costs.3. Using blended rate of $3.50/sf/mo. X 10 yrs x 41,730 sf x 5%

($679/SF)



4401 WILSHIRE BLVD

tenant suIteusaBle sQ. Ft.

rentaBle sQ. Ft.

rentaBle Ft. per lease

lease perIoD rent

parKIng/spaces

total Due start enD

associated television International 06/30/1999 - 11/07/2012 $55,097.00 $55,097.00 06/30/1999 10/31/2022

newZulu 240 1560 2000 2000 1/1/2015-12/31/2016 $7,450.00 $-/0 $7,450.00 01/01/2015 12/31/2016

cs&a Inc. 250 1320 1637 1637 3/1/2016-02/28/2021 $3,190.00 $-/3 $3,190.00 03/01/2016 02/28/2021Juno Healthcare registry, Inc. 230 1040 1290 1290 months 37-72 (4/1/13 - 3/31/16) $2,773.50 $285.00 /3 $3,058.50 04/01/2013 03/31/2016

vacant 200 ~ 5500 5500 $- $-/0 $-

sprint unlimited management co. roof $150.00 $-/0 $150.00 12/07/2004 12/31/2024

Brown Hot events parking only ~ ~ ~ ~ $160.00/2 $160.00 month to monthyes Design group, Inc. 210/220 1600 1935 1935 month to month $3,676.50 $285.00/3 $3,961.50 month to month

$72,337.00 $730.00 $73,067.00

office rental Income1 $1,502,280

parking2 $178,200 net Income $1,680,480

yield/cap rate 6%stabilized value $28,008,000

less:tenant & capital Improvements3 $1,669,200

Current Value $26,500,000 (Price / SF) ($635)

2013* 2014* 2015#

cleaning & maintenance $27,955 $29,894 $31,090

repairs $40,496 $33,676 $35,023 utilities $147,405 $144,849 $150,643

Insurance $36,862 $39,053 $40,615 legal & professional $3,907 $1,650 $1,716

taxes $66,155 $19,157 $68,828 management & staffing $91,119 $83,790 $87,142

Total $413,899 $352,069 $415,057

Income & Expense Pro Forma (Owner-User Scenario) Operating Expense History

FOOTNOTES:

1. Office rental income based on a blended market rate of $3.00/SF, NNN x 41,370 rentable square feet of space

2. Parking income based on $150/stall x 99 stalls3. Tenant improvements are based on an average of $40/RSF for the 41,730

FOOTNOTES:

* From Tax Return filings on a cash basis

# Projected w/4% on 2014 open & 2% basis from 2013 basis

Rent Roll



4401 WILSHIRE BLVD

SBA Loan QuotesLease vs Own Analysis

PROPERTY DESCRIPTION

BUILDING SPECIFICATIONS 14

PLAT MAP

SITE PLAN 15

BUILDING PLANS 17


property DescrIptIon • BuIlDIng specIFIcatIons

4401 WILSHIRE BLVD

Ownership Fee Simple

Lot Size 0.537 acres

Building Size 41,730 SF

Stories 5

Year Built 1963, renovated 2000-2002

Zoning LA-CR (PKM)

APN 5505-021-005

Parking 94 marked stalls on two levels. Subterranean level accessible via Wilshire Blvd and Lucerne Blvd, above grade level accessible via Lucerne Blvd. Both levels are secured and have direct building access

Frontage 180 feet on Wilshire Blvd and 130 feet on Lucerne Blvd

Construction Reinforced concrete curtain wall and concrete block construction with a poured reinforced concrete foundation and floor slabs

Exterior Walls Glass curtain walls in north, south, east and west facades. Partial blank end wall is concrete block. Full height glass in most perimeter areas provides expansive views

Roof Cover Composition roofing (2002)

Windows Single-glazed non-opening windows in aluminum frames

Pedestrian Doors Lobby has double tempered glass doors from the street side and a single glass door from the rear parking levels

HVAC Replaced in 2001, combines heating and cooling equipment on the roof. Is is a forced air system that serves each floor individually. There are two 40-ton units and one 50-ton unit for the 3 main floors. The 50-ton unit also serves the first floor lobby. The penthouse has two 5-ton units.

Elevators Two elevators serve the building. The equipment and cabs were overhauled and refurbished in 2001. The electronics were fully modernized in 2009

Wall Covering Circulation areas and office spaces have marble, ceramic tile, wood or carpet floor covering. Production studios feature wood or industrial grade carpet.

Walls Interior walls are finished in painted sheetrock or vinyl wall covering

Ceilings Ceilings in the elevator lobbies are painted dry wall

Lighting Recessed fluorescent light fixtures serve most of the interior spaces. Incandescent fixtures augment these as needed

Restrooms The building has restrooms for men and women on each floor

Security “State-of-the-Art” security system including surveillance cameras, digital recording system, and key card access to elevators

4401 WILSHIRE BUILDING SPECIFICATIONSBuilding Measurement Detail

Floor Usable (SF) Add On Rentable (SF)2 9,915 22.83% 12,548

3 10,469 19.86% 12,5484 9,618 30.22% 12,548

PH 3,607 13.28% 4,086Total 33,609 24.15% 41,730


property DescrIptIon • 4401 WIlsHIre sIte plan

4401 WILSHIRE BLVD

4401 WILSHIRE SITE PLAN

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property DescrIptIon • BuIlDIng plans

4401 WILSHIRE BLVD

Lower Level Parking First Floor Parking

4401 WILSHIRE BUILDING PLANS



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4401 WILSHIRE BUILDING PLANSSecond Floor

Third Floor



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Upper Roof Plan

4401 WILSHIRE BUILDING PLANSFourth Floor



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Penthouse Plan

4401 WILSHIRE BUILDING PLANS

executive office

executive office

storagelobby

admin office

admin office

Kitchen

restroom

reception

Files

ROOFDECK

LOCATION ANALYSIS


MARCIANO MUSEUM


PARK MILE

WILSHIRE BLVD

KOREA TOWN

DOWNTOWN L.A..

4401 WILSHIRE


locatIon analysIs • BuIlDIng plans

4401 WILSHIRE BLVD

HOLLYWOOD

WILSHIRE BLVD

LARCHMONT VILLAGE

MARCIANO MUSEUM

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FREMONT PLACE ESTATES WILSHIRE EBELL

THEATER

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HOLLYWOOD HILLS RESIDENTIAL


WEST HOLLYWOOD

BEVERLY HILLS


4401 WILSHIRE BLVD

locatIon analysIs • BurBanK, calIFornIa

• Paramount Studios— Is the longest operating major studio in Hollywood. The studio is located on it’s original 65 acre lot on the corner of Melrose and Gower. The company is a subsidiary of Viacom and has produced countless box-office hits.

• Melrose Avenue Shopping District—Just north of the Property is the trendy Melrose shopping and dining district which spans from La Brea to the Beverly Center. This street is one of the most vibrant, organic dining, shopping, and entertainment districts in Los Angeles. The street features an eclectic mix of boutique and high-end design retailers.

• The Grove—The Grove is a 575,000-square foot revolutionary outdoor marketplace that opened in 2002. It welcomes a staggering 18 million visitors a year, out-pacing even Disneyland, and features numerous high-end dining establishments, a 14 screen cinema, and flagship stores by Nordstrom, Cate & Barrel, Topshop, Barnes & Noble, Apple, Anthropologie, Barneys, and American Girl Place. The project is owner and operated by Caruso Affiliated and is intermingled with the bustling and artisan Farmer’s Market.

• Beverly Center—This 871,000 square-foot, eight-story regional shopping center is located between San Vicente and La Cienega Blvd and anchored by Macy’s and Bloomingdales. The project also offers a Cineplex Odeon Theatre Complex as well as 160 specialty shops and over 20 restaurants and eateries.

• Museum Row—Located at the intersection of Wilshire and Fairfax and stretching to La Brea Blvd are four of Los Angeles’ most celebrated museums. The LA County Museum of Art (LACMA), the La Brea Tar Pits (Page Museum), Peterson Automotive Museum, and the Craft and Folk Art Museum are the major tourism and entertainment driver for this strip of Wilshire Blvd. LACMA is the anchor on the strip with it’s 22-acre campus housing over 150,000 modern and historic works.

• CBS Studios—Located on the corner of Fairfax Avenue and Beverly Boulevard adjacent to The Grove, CBS Studios is one of the most famous and historically significant television studios in the world. Today, the network tapes many of America’s favorite television programs, including soap operas such as “The Young & the Restless, occasional sitcoms, talk-shows including “The Talk” and “Entertainment Tonight”. as well as the classic “The Price is Right” and the new hit “Let’s Make a Deal”.

LOS ANGELES MID-CITY LANDMARKS


locatIon analysIs • parK mIle/HancocK parK - DIstrIct overvIeW

4401 WILSHIRE BLVD

PARK MILE/HANCOCK PARK - DISTRICT OVERVIEW• Hancock Park—Hancock Park is located directly to the west of Windsor Square

and consists of approximately 1,200 homes sitting on 2.2 acres. In the early 1900’s, the area was home to some 70 oil wells, until it’s owner, Major Henry Hancock, chose to subdivide the property into residential lots. The houses were designed by famous local architects and became homes to many of this cities most recognizable families.

• Windsor Square—Windsor square runs from Wilshire to Beverly Boulevards and from Arden Boulevard to Van Ness Avenue and was the vision of a 19th century developer to replace a tranquil English countryside in the heart of Los Angeles. Windsor Square consists of approximately 1,100 homes, and it is one of the oldest and most well preserved neighborhoods in Los Angeles.

• Wilshire Country Club—Included in Hancock Park is the Famed Wilshire Country Club, which was founded in 1919 and is one of the foremost private golf and social clubs in Los Angeles. The club was designed by Norman Macbeth as a links golf course with a natural steam running throughout. Throughout the years, the club has hosted many great tournaments including the LA Open, the Senior PGA, and the LPGA.

• Fremont Place Estates—Fremont Place is a privately owned park originally developed by three gentlemen, Charles Ingram, David Barry and George Briggs who intended to build an exclusive district of homes on the fifty acres site. Like nearby Windsor Square, Fremont Place was promoted as a park-like refuge of sedate mansions. Currently there are 73 homes whose owners represent the diversity of Los Angeles. And, just as it was over 90 years ago, Fremont Place is home to movie stars, government officials, civic leaders and entrepreneurs, and regular folks too.

• Larchmont Village—Larchmont Village is a quaint and friendly shopping district in the center of one of the oldest and most historically significant neighborhoods in Los Angeles. Larchmont serves as a main street retail district to Hancock Park, Windsor Square, and nearby Paramount Studios. The Village maintains a small town feel with a variety of locally farmed and ethnic restaurants, sidewalk cafes, and upscale boutiques.


4401 WILSHIRE BLVD


DEMOGRAPHICSDemographic Brief 1 Mile 3 Miles 5 MilesPopulation2015 Population 42,898 600,178 1,180,3342020 Population 43,740 617,342 1,222,0962010 Population 42,443 586,992 1,144,6812000 Population 45,460 611,477 1,155,602

Percent Pop Change: 2010 to 2015 1.07% 2.25% 3.11%Percent Pop Change: 2015 to 2020 1.96% 2.86% 3.54%Age2015 Median Age 39.84 36.06 36.342015 Average Age 40.13 37.62 38.01Households2015 Households 17,128 236,019 473,2522020 Households 17,558 244,433 492,9222010 Households 16,810 228,466 455,0482000 Households 16,850 227,434 443,472Percent HH Change: 2010 to 2015 1.89% 3.31% 4.00%Percent HH Change: 2015 to 2020 2.51% 3.56% 4.16%Average Household Size 2.49 2.49 2.42Income2015 Median Household Income $43,612 $36,853 $39,2072015 Average Household Income $73,833 $56,140 $63,6022015 Per Capita Income $29,480 $22,077 $25,501Housing Units2015 Housing Units 18,452 255,197 513,204Occupied Units 17,128 236,019 473,252Vacant Housing Units 1,324 19,178 39,9532015 Owner-Occupied Housing Units 4,997 36,706 103,7272015 Renter-Occupied Housing Units 12,132 199,313 369,524Education2015 Population Age 25 and Over 31,383 427,834 841,714High School through Associates 12,420 39.58% 177,101 41.39% 341,260 40.54%Bachelor's Degree 9,271 29.54% 96,727 22.61% 194,730 23.13%Graduate Degree 3,588 11.43% 36,307 8.49% 87,669 10.42%Place of WorkTotal Businesses 2,561 31,478 82,661Daytime Employment (Total Employees) 21,834 249,685 679,446

©2015 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. 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. Source: Nielsen


4401 WILSHIRE BLVD


METRO PURPLE LINE EXPANSIONthe purple line extension project is a critically important rail project that will provide a high-

capacity, high-speed, dependable alternative for commuters to travel between downtown los

angeles and Westwood in just 25 minutes. the metro rail extension, which will be built in

three phases, will continue from the current station at Wilshire/Western extending westward for

about nine miles along Wilshire Boulevard with seven new stations at Wilshire/la Brea, Wilshire/

Fairfax, Wilshire/la cienega, Wilshire/rodeo, century city/constellation, Westwood/ucla, and

Westwood/va Hospital. the project will increase overall transit ridership on the entire metro rail

system with an estimated 49,000 passengers per day at new purple line stations west of the

existing Wilshire/Western station. By 2035, approximately 30,000 additional riders are projected

to use public transportation in los angeles county overall.

4401 WILSHIRE

MARKET ANALYSIS

WILSHIRE BOULEVARD

HOLLYWOOD


marKet analysIs • oFFIce BuIlDIng sales comparaBles

4401 WILSHIRE BLVD

OFFICE BUILDING SALES COMPARABLES

Address Transaction Date Price Building

Size (SF)Land Size

(SF)$/SF

Building$/SF Land

Year Built Parking

1 9570 Pico Boulevard, Los Angeles 2015-10-30 $11,750,000 21,866 14,305 $537 $821 1960 2.5:1000

2 1641-1634 Ivar Avenue, Los Angeles 2014-08-01 $10,000,000 19,750 17,154 $506 $583 1936 1.27:1000

3 1800 N Highland Avenue, Los Angeles 2015-09-02 $44,400,000 86,800 20,395 $511 $2,177 1965 1.84:1000

4 955 Carillo Drive, Los Angeles 2015-10-26 $12,190,000 22,568 12,859 $540 $948 1990 4:1000

5 7966 Beverly Boulevard, Los Angeles 2014-10-30 $10,700,000 25,000 10,999 $428 $973 1961 2.5:1000

6 8075 W 3rd Street, Los Angeles 2015-06-09 $19,620,000 35,270 12,833 $556 $1,529 1981 2.84:1000

7 940 N Orange Drive, Los Angeles 2014-03-12 $13,500,000 29,572 41,199 $457 $328 1955 1.33:1000

8 3434 W 6th Street, Los Angeles 2014-04-04 $6,000,000 26,550 9.121 $226 $658 1958 2:1000

9 1635 N Cahuenga Boulevard, Los Angeles 2015-12-03 $16,400,000 34,647 15,760 $473 $1040 1983 2:1000

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9

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marKet analysIs • oFFIce BuIlDIng sales comparaBles

4401 WILSHIRE BLVD| 34 |LOS ANGELES • CALIFORNIA

marKet analysIs • OFFIce BuIlDIng lease cOmParaBles

4401 WILSHIRE BLVD

OFFICE BUILDING LEASE COMPARABLES

Address Tenant Transaction Date $/SF Square

Feet Term Free Rent TIA Annual Increases Parking

1 6430 Sunset Blvd, Los Angeles Oxford Road 2015-08-15 $4.00 FSG 15,295 63 mo’s 3 mo’s $65/SF 3% 2.5:1000

2 5700 Wilshire Blvd, Los Angeles The Third Floor 2015-08-14 $3.80 FSG 18,686 136 mo’s 10 mo’s $60/SF 3% 3:1000

3 5670 Wilshire Blvd, Los Angeles Verifi 2015-06-01 $3.70 FSG 30,000 66 mo’s 6 mo’s $35/SF 3% 3:1000

4 6555 Barton Ave, Los Angeles Broad Green Pictures 2015-03-15 $3.10 NNN 36,296 129 mo’s 9 mo’s $65/SF 3% 3.2:1000

5 6121 W Sunset Blvd, Los Angeles Viacom 2015-01-01 $4.47 FSG 180.000 144 mo’s 12 mo’s $60/SF 3% 2.66:1000

6 6121 W Sunset Blvd, Los Angeles NeueHouse 2014-07-01 $3.50 NNN 93,000 180 mo’s 6 mo’s $60/SF 3% 3:1000

7 8550 Higuera St, Culver City Beats By Dre 2014-01-01 $2.60 NNN 110,000 120 mo’s 10 mo’s $65/SF 3% 5.0/1000

8 5901 Blackwelder St, Culver City DigiTour 2015-06-01 $3.10 NNN 8,000 60 mo’s 1 mo BTS 3% 2:1000

9 9950 Jefferson Blvd, Culver City Mashable 2015-04-17 $3.25 NNN 10,927 62 mo’s 4 mo’s $15/SF 3% 3:1000

10 8500 Higuera St, Culver City Apple 2015-04-15 $3.30 MG 30,000 120 mo’s 5 mo’s $40/SF 3% 3:1000

11 8876 Venice Blvd, Los Angeles Trunk Club 2015-03-01 $2.55 NNN 38,500 36 mo’s 0 mo’s As-is 3% 3:1000

12 5808 Sunset Blvd, Los Angeles Netflix 2015-08-22 $3.65 NNN 200,000 120 mo’s 10 mo’s $80/SF 3% 4:1000

1 2 3 4

9

5 6

7 8 10 11 12

©2017 CBRE, Inc. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other condi-tions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. 4401 WIlsHIRE NEW CovER - oM.INdd

FOR MORE INFORMATION, PLEASE CONTACT

4401 WiLSHirE BOuLEvarD LOS aNGELES • caLiFOrNia

HOLLYWOOD

WILSHIRE BOULEVARD

4401 WILSHIRE



4401 wilshire blvd los angeles, ca · hon-michi church. vd wilshire united . methodist church...

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