265 S. WESTERN AVENUE
OFFERING MEMORANDUM
LOS ANGELES, CA 90004
INVESTMENT HIGHLIGHTS
PROPERTY FEATURES
265 S. WESTERN AVENUE, LOS ANGELES
• Real Estate Developments/Redevelopment in Recent Years
• Desired Location for Local and Foreign Investors
• New Retailers Rapidly Establishing – Markets, Restaurants, Cafes, Bakeries, etc.
• Emergence of Financial Institutions
• Popular Area for Young Professionals, Families and Empty Nesters
• Abundant Choices of Various Retail Amenities
• Vibrant Nightlife
• Access to Public Transit – Metro, Buses, etc.
• Convenient Access to Major Freeways – FWYS 10, 110, 101, 5, 60
KOREATOWN HIGHLIGHTS
EXECUTIVE SUMMARY MAP OF KOREATOWN
The USPS Nat King Cole Station located at 265 S. Western Avenue is a rare large parcel of land for sale in the center of Koreatown, the most densely populated square mile in all of Los Angeles. The facility consists of a ±16,164 square foot building and a 2-story parking structure with 90 striped spaces in addition to a surface parking lot with 30 striped spaces. The layout allows a variety of different redevelopment options. Located between Downtown and the Miracle Mile district, Koreatown has established itself as a trendy destination in Los Angeles. Over the past two decades, Koreatown has flourished with an expansion of its territory, increase in number of residents, and a broader base of commerce and recreation. In recent years, it has been gaining popularity not only from the Korean community, but also from non-Korean professionals, families and “empty nesters” that are drawn to the convenient lifestyle and significant new development projects. The size and scope of investment in the area combined with the high quality of employment and additional amenities will continue to transform the area and drive real estate values over the coming years. 265 S. Western Avenue represents a truly unique opportunity to capitalize on the future transformation of a burgeoning neighborhood.
BUILDING HIGHLIGHTS
• Prime Koreatown Location – 3rd Street & Western Avenue
• Rare Large Parcel for Sale
• Abundant Parking - 120 Striped Spaces and Potential for More
• Ideal Location for Various Uses
• Approximately 230 Feet of Western Avenue Frontage
• Redevelopments in Vicinity
Building SF: 16,145
Lot Size: 64,907 (1.49 AC)
Year Built: 1987
Loading: Dock High
APN: 5517-001-900
Parking: Approx. 120
PROPERTY FEATURES
265 S. WESTERN AVENUE, LOS ANGELES
INVESTMENT HIGHLIGHTS
PROPERTY FEATURES
AERIAL PARCEL MAP
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265 S. WESTERN AVENUE, LOS ANGELES
265 S. WESTERN AVENUE, LOS ANGELES
SITE PLAN
PROPERTY FEATURES
NOT A PART
2-STORY PARKING LOT
SURFACE PARKING LOT
LOADING
Galleria Market Retail Redevelopment
COMPLETED
Summit on 6th 82 Unit Mixed-Use
COMPLETED
Wilshire Vermont Station * 449 Unit Mixed-Use
COMPLETED
The Vermont 464 Unit Mixed-Use 2014 PROJECTION
K2LA 303 Unit Apartment 2014 PROJECTION
Olympic & Normandie Mixed-Use Development
COMPLETED
Mercury 238 Unit Mixed-Use
COMPLETED
Solair * 186 Unit Mixed-Use
COMPLETED
Madang, The Courtyard Retail Redevelopment
COMPLETED
California Market Retail Redevelopment
TBD
City Center on 6th Retail Development
COMPLETED
RELEVANT KOREATOWN PROJECTS
* TOD (Transit Oriented Development)
265 S. WESTERN AVENUE, LOS ANGELES
PROPERTY FEATURES
POPULATION DESITY MAP
INTERSECTION NORTH / SOUTH EAST / WEST
Western & 3rd 26,500 34,000
TRAFFIC COUNTS (APPROXIMATE)
1 MILE RADIUS 2 MILE RADIUS 3 MILE RADIUS
2012 Est. Population 98,977 313,004 619,993
2012 Est. Households 39,672 117,862 243,216
2012 Est. Median Household Income $30,542 $29,818 $31,179
2012 Est. Average Household Income $44,975 $45,392 $48,445
AREA DEMOGRAPHICS
265 S. WESTERN AVENUE, LOS ANGELES
INVESTMENT HIGHLIGHTS
PROPERTY FEATURES
MAJOR RETAILERS & BANKS
265 S. WESTERN AVENUE, LOS ANGELES
EXCLUSIVE MARKETING ADVISORS
CBRE, Inc. | 355 S. Grand Ave. | Suite 1200 Los Angeles, CA 90071 | www.cbre.com
©2012 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.
Brandon Gill First Vice President Lic. 01262330 213.613.3754 [email protected]
Brandon Burns First Vice President Lic. 01194796 213.613.3753 [email protected]
Jae Yoo The Korea Desk Lic. 01503567 213.613.3760 [email protected]