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E X C L U S I V E A D V I S O R | N K F O F F E R I N G M E M O R A N D U M

RYAN HARDING EXECUTIVE MANAGING DIRECTOR T 213.596.2044 ryharding@ngkf.com CA RE License #01737669

JENNIFER FRISK MANAGING DIRECTOR T 213.596.2261 j f r isk@ngkf.com CA RE License # 01880015

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Newmark of Southern California, Inc., a California corporation doing business as Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 10351 – 10353 Washington Boulevard, 10451 Washington Boulevard, Culver City, California, 90232 (the ”Property”) by Seller Name or ‘Ownership’ (the “Seller”).

The Property is being offered for sale in an “as-is, where-is” condition, and the Seller and the Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include confidential information and are being furnished solely for the purpose of review by prospective purchasers (“Purchasers”) of the interest described herein for which it shall be fully and solely responsible. Neither the enclosed materials, nor any information contained herein, are to be used for any other purpose, or made available to any other person without the express written consent of the Seller. Each recipient, as a prerequisite to receiving the enclosed information, should be registered with the Agent as a “Registered Potential Investor” or as a “Buyer’s Agent” for an identified “Registered Potential Investor”. The use of this Offering Memorandum, and the information provided herein, is subject to the terms, provisions and limitations of the Confidentiality Agreement furnished by the Agent prior to delivery of this Offering Memorandum.

The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by the Agent or the Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners, and directors, as to its accuracy or completeness. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Seller nor the Agent shall have any liability whatsoever for any other written or oral communication or information transmitted, or made available, or any action taken, or decision made by the recipient with respect to the Property.

The Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from the market for sale at any time and for any reason without notice, to reject any and all expressions of interest or offers regarding the Property, and/or to terminate discussions with any entity at any time, with or without notice. This Offering Memorandum is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. The Agent is not authorized to make any representations or agreements on behalf of the Seller. The Seller shall have no legal commitment or obligation to any recipient reviewing the enclosed materials, performing additional investigation, and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions required under the contract for title to pass from the Seller to the buyer have been satisfied or waived.

By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents will be held and treated in the strictest of confidence; and (b) the recipient shall not contact employees, contractors, sub-contractors or lien-holders of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or the Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of the Seller or the Agent or as otherwise provided in the Confidentiality Agreement executed and delivered by the recipient(s) to Agent.

The Seller will be responsible for any commission due to the Agent in connection with a sale of the Property. However, any broker engaged by Purchaser (“Buyer’s Broker”) shall seek its commission only from the Purchaser. Under no circumstances will the Agent or the Seller be liable for same and recipient will indemnify and hold the Agent and the Seller harmless from any claims by any brokers having dealt with recipient other than the Agent. Any Buyer’s Broker must provide a registration signed by the recipient acknowledging said Buyer’s Broker’s authority to act on the recipient’s behalf.

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T A B L E O F C O N T E N T S

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EXECUTIVESUMMARY P 0 1 PROPERTY

OVERVIEW P 0 5PROPERTY HIGHLIGHTSPROPERTY DETAILSFLOOR PLANSLOCATION MAP

LOS ANGELESOFFICE MARKETOVERVIEW

P 1 5 CULVER CITYOVERVIEW P 2 1CULVER CITY DEMOGRAPHICSLOCAL TENANTSAMENITIES MAP

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E X E C U T I V E S U M M A R YAs the exclusive agent for the owner, Newmark Knight Frank is pleased to offer a truly one-of-a-kind opportunity

to acquire 10351 Washington Boulevard, a jewel box building located adjacent to the heart of Downtown Culver

City and directly across the street from the historic Sony Studios. The building was highly improved and is currently

owned by a well-known music executive. His immaculate taste and attention to detail comes to life throughout. 10351

Washington is being sold in conjunction with 10451 Washington, a .18-acre land site that currently serves as an

improved parking lot for the building, which offers owner users or investors a value-add development opportunity in

the heart of Culver City. The building is perfect for entertainment, technology, media, management, advertising and

cutting edge companies. 10351 & 10451 Washington Boulevard (the property) is listed at $7,995,000.

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PROPERTY HIGHLIGHTS10351-13535 Washington Boulevard consists of approximately 8,672 square feet of office space on approximately 0.21 acres of land. The building was constructed in 1923, renovated in 1993 and significantly improved to it’s existing condition in 2012 by famed architect, Paul McClean of McClean Design.

The exterior and front façade were finished using white Carrera marble, which is carried through the interior of the building and onto the second floor exterior patio bar and oversized fire pit. The extensive use of marble is continued throughout the building’s interior with Equator, which covers the library fireplace, conference room, and offices. The interior floors combine a unique mix of limestone and custom walnut.

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The interior offices are all finished with hard-lid ceilings, over-standard lighting, and above-standard, weighted glass offices.

The true highlights of the building include a 250-gallon salt water fish tank and a custom, temperature-controlled-500-bottle-wine cellar with room to entertain within the cellar.

The building is wired throughout with a Crestron A/V system, a MACE security system, and an OMD alarm and generator system.

Not to be forgotten, the finished garage can park four cars and has an electric vehicle charging station. The garage also has built-in storage, a state of the art generator and ample staging area for events.

10451 Washington Boulevard consists of approximately 0.18-acres of land, improved as a secured, gated and landscaped parking lot. The lot currently provides parking for approximately 25 cars, which is a parking ratio of 2.88 per 1,000. Additional parking can be accommodated in the lot with the installation of a valet assist program. The existing land also offers the potential for a long-term development and value-add opportunity.

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ADDRESS10351-10353 Washington Boulevard 10451 Washington Boulevard Culver City, California, 90232

COUNTY Los Angeles

BUILDING SIZE 8,672 ± SF

PARKING 4 covered spaces onsite and 25 surface spaces in parking lot

LAND AREA 0.21 acres (Building) and 0.18 acres (Parking)

BUILT 1923 (Original), 2012 (Complete Renovation)

ZONING C2-1 (Buyer to verify)

WALK SCORE 93

PROPERTY DETAILS

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PROPERTY FEATURESARCHITECT Paul McClean, McClean Design

CONSTRUCTION Concrete, brick and stucco with approximately 20’ ceilings

A/V Crestron

MARBLE White Carrera, Equator, Lime Stone

FLOORING Walnut and Teak

SECURITY Mace, OMD Alarm and Generator System

• 10+ private offices; large glass conference room

• 250-gallon salt water fish tank

• 500 bottle temperature-controlled wine cellar

• Finished garage with electric vehicle charging station and extensive built-in storage

• One executive restroom with shower; four executive-style restrooms

• Kitchen with Miele stove

• Second floor fully improved approximately 1,000 SF landscaped deck with fire pit seating and bar

• Server room with separate HVAC

• Culver City address, Los Angeles zoning

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1ST FLOOR PLAN

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2ND FLOOR PLAN

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LOS ANGELES MARKET OVERVIEWAs of 1Q2017, the Los Angeles Office market was defined by continued new construction deliveries across all product types. This drove vacancy marginally up from year end 2015 as over 900,000 square feet in new speculative construction delivered, 35.0% of which was leased upon completion. Creative submarkets throughout Los Angeles have continued to thrive with the expansion of technology and high growth companies: Netflix in Hollywood, Grindr in West Hollywood, AwesomenessTV in Santa Monica, Deutsch in Playa Vista, and Ares in Culver City. The overall Los Angeles rental rate increased 3.5% to end the quarter, over 1Q2016, driven largely in part by new construction.

Current Quarter

Prior Quarter

Year Ago Period

12 Month Forecast

Total Inventory (SF) 194M 193M 192M é

Vacancy Rate (%) 14.0% 13.9% 14.5% é

Quarterly Net Absorption (SF) 363,795 295,397 533,186 çâ

Average Asking Rent ($/SF) $3.15 $3.10 $3.05 é

Under Construction (SF) 1.7M 2.4M 1.8M çâ

Deliveries (SF) 922,258 0 1.8M é

M A R K E T S U M M A R Y

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Net AbsorptionSquare Feet, Millions

5%

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Asking Rent and Vacancy

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CULVER CITY MARKET OVERVIEWCulver City may be one-tenth the size of Downtown Los Angeles, but its ground-up construction figures places it second in the region with more than 300,000 square feet underway. With large block space options, Culver City has been attracting technology, media and other creative tenants from Santa Monica, Marina del Rey/Venice, and Playa Vista. These fundamentals, paired with commuter rail connectivity to Santa Monica and Downtown Los Angeles, are appealing to both tenants and investors.

There continues to be significant development and redevelopment within the Culver City market. Currently, LBA Realty is renovating One Culver, which was vacated in 2016 when Sony Pictures consolidated within their owned portfolio. The project will include retail, anchored by Equinox, and creative office. Frederick Smith, the preeminent developer in Culver City, has begun construction on his newest creative office development, The (W)rapper. Located adjacent to the Expo Line, the 170,000 sf highly creative office and retail project is expected to deliver in 2018, featuring a roof deck, and expansive views of Los Angeles. Additionally, IDS has almost completed the C3 project in the Culver Pointe area. This 280,000 square foot creative office park will have unparalleled amenities for the area and has already signed almost 100,000 sf of tenants during pre-leasing.

THE (W)RAPPER

2323

C3

ONE CULVER

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CULVER CITYCentrally located between the beach and downtown Los Angeles, Culver City offers a vibrant business environment, and an exceptional quality of life in a safe, modern and progressive community with exceptional transit, shopping, dining and entertainment options. Culver City’s unique combination of small-town charm and urban amenities, make it a great place to live, work, and play. In recent years, the area has witnessed an influx of businesses including some of the city’s best art galleries, graphic design houses, architectural and advertising firms, entertainment companies and technology and media offices.

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DEMOGRAPHICSCulver City is home to more than 39,528 residents, and its population is expected to grow by 2.5% by 2021. While homeownership is relatively low, it is an affluent and well-educated area of Los Angeles. The average household income of $106,477 in Culver City exceeds Los Angeles County’s average by 24.2%, and California’s average by 17.2%. At the same time, high demand for such a desirable area consistently drives home values higher than other parts of Los Angeles. At $660,080, the average Culver City home value is 32.7% higher than the rest of the Los Angeles market, and 48.4% more than California’s average.

Well-educated residents create a strong talent pool for local businesses, some of the most cutting-edge in the world. More than one in every two residents over the age of 25 holds a bachelor’s degree or higher in Culver City, compared with less than one in three in Los Angeles County and the State of California.

ECONOMY & EMPLOYMENTCulver City has emerged as a prime Westside location, attracting development and tenants across industry segments. The city, for instance, is second to only Downtown Los Angeles with office space under construction. Culver City is home to the Hayden Tract area, which is a former industrial neighborhood that has been renovated to next-generation creative offices and is attracting media and technology tenants historically interested in Silicon Beach.

Culver City as a whole is seeing increased interest due to lower rents and larger available blocks when compared to other Westside markets. Notable office occupiers in the market include Apple, Beats Electronics, Sony Pictures, the NFL Network and other high profile, creative tenants. Downtown Culver City has seen increased growth with new restaurants, boutique shops and corporate tenants taking occupancy.

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RYAN HARDING EXECUTIVE MANAGING DIRECTOR T 213.596.2044 ryharding@ngkf.com CA RE License #01737669

JENNIFER FRISK MANAGING DIRECTOR T 213.596.2261 j f r isk@ngkf.com CA RE License # 01880015

CRAIG KNIZEK MANAGING DIRECTOR THE AGENCY cknizek@theagencyre.com CA RE License #

TRANSPORTATIONBusinesses are attracted to the area’s central location, Metro access, and proximity to major freeways (I-405, I-105, I-10, 90) and LAX. Additionally, tenants can save up to 45% in gross receipts tax by locating in Culver City versus the City of Los Angeles.

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Antioch University Los Angeles

Apple

Arclight

Beats By Dr. Dre

Big Frame

The Culver Hotel

Helms Bakery

Herman Miller

Maker Studios, Inc.

NFL Network

Popsugar

Spin Masters Studios, Inc.

Sony Pictures Studios, Inc.

Sugar Publishing Inc

thrillist Media Group

Westfield Culver City

Wongdoody

XPRIZE Foundation

ARES Management, LLC

Nike

Scopely

Equinox

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CULVER CITY ARTS DISTRICT

RYAN HARDING EXECUTIVE MANAGING DIRECTOR

T 213.596.2044 ryharding@ngkf.com

CA RE License #01737669

JENNIFER FRISK MANAGING DIRECTOR

T 213.596.2261 j f r isk@ngkf.com

CA RE License # 01880015

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