337-339 - loopnet...the residential area surrounding the robertson boulevard shopping district in...

Beverly Hills Owner-User OppOrtUnity | Office & retail BUilding

fOr sale

Beverly Hills, ca 90211

337-339s. rOBertsOn Blvd.

Executive Summary pg. 4

Property Profile pg. 8

Property Highlights pg. 12

Financial Summary pg. 14

Floor Plans pg. 16

Location Map pg. 18

Area Summary pg. 20

Sale Comparables pg. 24

2 3

Table of ConTenTs

CONFIDENTIALITY STATEMENTThis offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company, AJ Morgan and Company, or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. 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 the buyer’s choosing.

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 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 writings and shall constitute the sole agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

4 5

exeCuTive summary1WESTMAC Commercial Brokerage Company and AJ Morgan & Company are pleased to present the opportunity to purchase 337-339 S. Robertson Boulevard in Beverly Hills.

337-339 S. Robertson Boulevard is a ±4,916-square foot (per tax record) freestanding commercial building on ±4,652-square feet of land. Located mid-block, between Olympic Boulevard and Gregory Way on the west side of S Robertson Boulevard, 337-339 S. Robertson Boulevard is an exceptional two-story creative office and retail building along a busy thoroughfare populated with retailers and offices.

Built in 1951, the building is uniquely designed, featuring lush greenery, brilliant brick and steel exterior, with exposed brick interior, wood floors, and floor to ceiling windows providing tenants with an abundance of natural lighting. Approximately 3-4 parking spaces are located in rear.

The first floor is currently leased to two retail tenants, while the second floor currently functions as creative office space. Second floor becomes available in March 2019, leaving approximately 2,400-square feet of creative office space vacant for an owner-user.

The offering’s distinctive architectural design, and excellent S. Robertson location make 337-339 S. Robertson Boulevard a prime owner-user opportunity in one of the strongest and most constrained retail market’s in the country.

8 9

Address 337-339 S. Robertson Boulevard,Beverly Hills, CA 90211

APN 4333-010-007

Building Size± 4,916-square feet (per tax record); ± 4,166 USF (per leases);± 4,493 RBA / ± 4,141 USF (per BOMA)

Land Size ± 4,652-square feet (per tax record)

Built 1951

Stories Two (2)

Elevator None

Zoning BHC3YY

Current Use Retail/Offices

Tenancy Multiple*Second floor becomes vacant March 2019

Parking Approximately 3-4 spaces in rear

Ownership Fee Simple

Asking Price $3,250,000

ProPerTy Profile2

10 11

PARCEL MAP

PROPERTY HIGHLIGHTS

12 13

Owner-User OpportunitySouth Robertson Boulevard is located in one of the nation’s most coveted retail and office markets. The building offers excellent visibility along this busy thoroughfare making this a great opportunity for an owner-user. Second floor becomes available in March 2019, leaving approximately 2,400-square feet of office or creative space vacant for an owner-user.

Highly Desirable LocaleThe property is located in the coveted City of Beverly Hills. This is an exceptional location with high visibility on busy amenity rich Robertson Boulevard servicing the high-end demographic that surrounds the area.

Unique Design FeaturesThe building possess unique design elements that makes it one-of-a-kind, including lush greenery, beautiful brick and steel exterior, exposed brick interior, hard wood floors, and large wall to ceiling windows for ample natural light.

Excellent DemographicsSituated in densely populated, in-fill markets with more than 325,000 residents having average household incomes above $136,000 within 3-miles.

Internet Resistant Retail TenancyDiverse retail tenant mix serving the daily needs of the surrounding communities and daytime work populations, with no competition from online retailers (current 1st floor retailers inlucde Eyelash Extensions & Pilates studio).

uniT TenanT sPaCe size base renTToTal

reCurringlease sTarT lease exP. oPTion

seCuriTy DePosiT

1ST FL

101.2 Pilates Studio 1,066 SF $3,114.27 $3,114.27 6/01/2010 5/31/2020 1 - 36 mos. $2,550.00

103 Beautyful Lashes 700 SF $2,307.00 $2,307.00 11/01/2016 10/31/2021 1 - 60 mos. $2,175.00

2ND FL

*201.2 Lone Outpost 2,400 SF $7,116.00 $7,116.00 2/01/2008 3/01/2019 $3,500.00

TOTALS 4,166 SF $12,537.27 $12,537.27 $8,225.00

*Second floor tenant vacating March 2019

ToTal uniTs

oCCuPanCygross PoTenTial

renTblDg area

ToTal seCuriTy DePosiT helD

renT

3 100% $12,537.27 4,916 SF $8,225.00 $12,537.27

Rent Roll Summary

RENT ROLL & LEASE INFO

14 15

finanCial summary4

#of TenanTs

ToTal usf ToTal rsf

2 1,667.25 1,923.56

16 17

floor Plans5BOMA MEASUREMENTSDec-2018

1st FLOOR

levelbounDary

arearenTable

exClusionsfloor renTable

areaoCCuPanT

areafloor usable area

blDg serviCe area

floor serviCe area

floor alloCaTion raTio

floor alloCaTion

blDg ameniTy & serviCe area

blDg alloCaTion area

realloCaTeD renTable area

loaD faCTor a

Floor 1 1,974.13 19.70 1,954.43 1,667.25 1,667.25 53.98 233.20 1.13987 1,900.45 53.98 1.01216 1,923.56 1.15373

Floor 2 2,696.33 157.99 2,538.34 2,474.00 2,474.00 64.33 1.02600 2,538.34 1.01216 2,569.20 1.03848

TOTAL 4,670.46 177.69 4,492.76 4,141.26 4,141.26 53.98 297.538 4,438.79 53.98 4,492.76 1.08488

#of TenanTs

ToTal usf ToTal rsf

1 2,474.00 2,569.20

2nd FLOOR

S. ROBERTSON BOULEVARD

18 19

The Los Angeles Country Club

2BEVERLY HILLS TRIANGLE

Rodeo Drive

Olympic Blvd

s. rOBertsOn Blvd.337-339

Gregory Way

S Swall Drive

S Clark Drive

RODEO DRIVE RETAILERS (partial list)

loCaTion maP6

N>

WILSHIRE BOULEVARDCharleville Blvd

S Hamel Drive

S Amaz Drive

S Williams Drive

ROBERTSON BOULEVARD

7area summary

Robertson Boulevard is a major north-south thoroughfare on the Westside of Los Angeles running through one of its neighborhoods, Pico-Robertson and between two of its neighborhoods, Beverlywood and Crestview. Its northern end is slightly to the north of Santa Monica Boulevard and its southern end is at Washington Boulevard. Robertson Boulevard is accessible via exit #6 on the Santa Monica Freeway (Interstate 10).

The northern part of the street in West Hollywood and Beverly Hills is a trendy tree-lined shopping district. In West Hollywood, the neighborhood surrounding Robertson Boulevard consists mostly of high-density apartment buildings and condominiums. The residential area surrounding the Robertson Boulevard shopping district in Beverly Hills is more family-oriented and is made up mostly of single-family residences.

Robertson Boulevard has recently become a haven for celebrities and paparazzi. This is partially due to a large influx of unique boutiques and designer clothing & jewelry stores such as Agnes B, Curve, Lisa Kline, Kitson Boutique, Williams Sonoma, Armani Exchange, Michael Kors, Ralph Lauren, Ted Baker, M·A·C, Chanel, Gypsy05, Intermix, Tory Burch, Max Azria, Beach Bunny Swimwear, and Erica Courtney (right next door to The Ivy) which is a mecca for many celebrity shoppers.

20 21

Neighboring Retailers (short list - immediate local)

Beverly Hills is a premier global destination for unrivaled shopping, extraordinary restaurants, amazing art and cultural attractions. Due to endless appearances on TV and the silver screen, Beverly Hills may very well have the most famous zip code in the United States - 90210.

The City of Beverly Hills is 5.7-square miles in the western region of Los Angeles County and is surrounded by the cities of Los Angeles, Santa Monica, West Hollywood, and Culver City. Part of The Golden Triangle it is adjacent to neighborhoods Bel Air and Holmby Hills, which are regarded as some of the most affluent neighborhoods in all of Los Angeles.

The little city is a world class destination which attracts tourists from around the world annually. The tourists visit the high-end stores, boutiques, and restaurants rubbing shoulders with some of Hollywood’s elite. Living up to its reputation, Beverly Hills has a fine selection of 5-star hotels. Among the most famous are: The Beverly Hills Hotel & Bungalows, The Beverly Hilton, Beverly Wilshire, L’Ermitage, The Peninsula, Sunset Marquis Hotels and Villas, the Montage Beverly Hills and the new Waldorf Astoria Beverly Hills.

The Beverly Hills Golden Triangle is one of the most luxurious areas of Beverly Hills, packed with high end luxury restaurants and retailers, and traveled to by visitors from all over the world. The neighborhood’s focal point is synonymous with Rodeo Drive - a three block stretch of road north of Wilshire Boulevard and south of Santa Monica Boulevard. The surrounding streets are concentrated with a bevy of designer labels including the likes of Giorgio Armani, Bulgari, Christian Dior, Dolce & Gabbana, Escada, Gucci, Harry Winston, Louis Vuitton, Prada, Hermes and Yves Saint-Laurent, and a favorite hot spot for celebrities and paparazzi.

There are 6 million visitors to Beverly Hills each year

There are 34,109 residents and a workday population of more than 200,000

VITAL SIGNS: BEVERLY HILLS

40% of families have an income greater than $150,000

Beverly HIlls has 16 hotels, 2,200 rooms, including 5 five-star hotels

11,000 businesses operate in Beverly

Hills: $1,7 billion annual retail & food

sales and $2 million of clothing sold every day

BEVERLY HILLS

22 23

The Golden Triangle

POPULATION 1-mile 3-mile 5-mile

Population (Current) 49,419 325,437 875,451

Population (5 Yr. Forecast) 51,086 336,387 904,548

INCOME

Med. Household Income $91,440 $94,139 $82,829

Avg. Household Income $132,447 $136,421 $118,797

Avg. Family Income $183,514 $178,039 $152,755

BUSINESS

Total Establishments 5,570 22,623 42,760

Total Employees 56,304 250,906 515,131

Total Consumer Expenditures $1,962,699,000 $10,435,211,000 $24,706,180,000

HOUSEHOLDS

Households (Current) 23,744 153,198 383,093

Families 10,565 65,518 176,845

Owner Occupied 6,237 46,616 107,469

Renter Occupied 17,507 106,582 275,624

Med. Value Owner Occupied $855,638 $714,129 $632,063

Median Rent $1,580 $1,468 $1,341

Demographics

24 25

1482-1484 S. Robertson Blvd.

Sale Date 3/22/2018 Bldg SF 3,746 SFSale Price $1,925,000 Land SF 3,728 SFPrice/SF $514 APN# 4303-001-020


Sale Date 10/13/2017 Bldg SF 3,727 SFSale Price $3,900,000 Land SF 5,331 SFPrice/SF $1,046 APN# 4333-009-002

1665 S. Robertson Blvd.



Sale Date 8/31/2017 Bldg SF 1,664 SFSale Price $1,9250,000 Land SF 3,598 SFPrice/SF $1,157 APN# 4333-015-032

sale ComParables8852 S. Robertson Blvd.



Sale Status In Escrow Bldg SF 2,623 SFAsking Price $3,495,000 Land SF 4,791 SFPrice/SF $1,332 APN# 4333-008-005




Sale Status On Market Bldg SF 16,889 SFSale Price $12,000,000 Land SF 9,147 SFPrice/SF $711 APN# 4333-015-025

AJ Morgan & Company8315 Beverly Blvd., Suite 100 Los Angeles, CA 90048Phone 323.658.9494www.ajmorganco.com

Hai Ben-DavidSenior AssociateD. [email protected]# 02003259

WESTMAC Commercial Brokerage Company1515 S. Sepulveda Blvd.,Los Angeles, CA 90025Phone 310.778.7700Company DRE# 01096973www.westmac.com

T.C. Macker, CCIMPresidentD. [email protected]# 01232033

Jennifer MoscosoAssociateD. [email protected]# 02044716

Charles Jacob PresidentD. [email protected]# 01060216

Area Map For more information:

337-339 - loopnet...the residential area surrounding the robertson boulevard shopping district in...

Documents