28
Los Angeles, CA 90024 Westwood Boulevard FOR SALE OR LEASE 1611-1615
Los Angeles, CA 90024Westwood Boulevard
FOR SALE OR LEASE
1611-1615
WESTMAC Commercial Brokerage Company1515 S. Sepulveda BoulevardLos Angeles, CA 90025Phone 310.778.7700Company DRE# 01096973www.westmac.com
CONTACT LISTING BROKERS:
21615 Westwood Boulevard | OFFERING MEMORANDUM
T.C. Macker, CCIMPresidentD. [email protected]# 01232033
Jennifer MoscosoAssociateD. [email protected]# 02044716
3
EXECUTIVE SUMMARY
BUILDING SIZE ± 5,828 square feet (per tax record)
SALE PRICE $5,495,000 ($942/SF)
LEASE TYPE NNN
LEASE RATE $22,500 per month (entire building)
WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire or lease 1611-1615 Westwood Boulevard (“1615 Westwood Boulevard”), a beautifuly designed ± 5,828 square foot (per tax record) two-story, modern creative office building featuring atrium-style skylight and large glass paned windows overlooking Westwood Boulevard. It is situated on ± 3,600 square feet of land along the pedestrian-friendly streets of Westwood, a highly coveted commercial and residential neighborhood in the northern central portion of the Westside region of Los Angeles, California.
1615 Westwood Boulevard is located south of major Wilshire Boulevard and two blocks north of Santa Monica Boulevard. The building was built in 1948 and remodeled in 2006. The ground floor currently features six (6) pocket offices, two (2) larger office spaces, reception area and small meeting room. It was previously leased to a legal recruiting center and is currently vacant. The second floor is composed of a lobby, common area, meeting room and various suites that can be used by a single user or divided into a multitude of single suites. There is currently one active lease that will be vacating at the end of May 2021. There are three (3) parking spaces behind the building and plenty of metered street parking along Westwood Boulevard.
The property’s location in the heart of Westwood offers close proximity to one of the country’s most influential and successful universities, UCLA. It is also walking distance to Westwood Village, a popular shopping, dining and nightlife locale for students, tourists, and locals. It is also close to the 405 Freeway and the former Westside Pavilion, which will be the future site of Google offices in 2022.
1615 Westwood Boulevard provides the opportunity for an owner-user or investor to acquire the ideal COVID friendly office location or headquarters.
Modern two story creative office building renovated in 2006. Excellent retail block on Westwood Boulevard between Bristol Farm Market and Ross Department store north of Santa Monica Boulevard. Direct access to San Diego (405) freeway and Santa Monica (10) freeway. Pedestrian friendly streets with heavy foot traffic.
PROPERTY SUMMARY
41615 Westwood Boulevard | OFFERING MEMORANDUM
ADDRESS 1611-1615 Westwood Blvd., Los Angeles, CA 90024
APN 4324-026-023
BLDG SIZE ± 5,828 square feet (per tax record)
LAND SIZE ± 3,600 square feet
BUILT 1948; remodeled in 2006
ZONING C4-1VL-POD; TOC Tier 3
TYPE/USE Commercial - Office; Retail
NO. OF STORIES Two (2)
OCCUPANCY Second floor partially leased until 5/2021
PARKING Three (3) spaces behind building; plenty of metered street parking along Westwood Boulevard
5
SALE PRICE $5,495,000
PRICE PSF $942 per square foot
LEASE TYPE Triple Net
LEASE RATE $22,500 per month for entire building
The building is available for sale or for lease. Contact listing agents to schedule a tour. Due Diligence available upon request.
OFFERING SUMMARYLEASE SUMMARY
Photos of the second floor
SUITE Suites 202 & 203
RENT $2,200/Month
ORIGINAL TERM May 16, 2017
EXPIRATION May 31, 2021
OPTIONS No
61615 Westwood Boulevard | OFFERING MEMORANDUM
Photos of the second floor7
Notes: Floor plans for information purposes only. Layout and scale may vary.
FLOOR PLAN
81615 Westwood Boulevard | OFFERING MEMORANDUM
FIRST FLOOR (1611-1613 WESTWOOD BOULEVARD)The first floor is made up of approximately 3,000 SF and can be used as a single space or be divided into two. The ceiling height is approximately 12 feet (buyer to verify). The first floor was previously leased to a legal recruiting center who occupied the entire space. The current build out includes a number of small private offices, two restrooms, and two larger offices in back. A rear door opens to a stairwell connecting each floor to the back parking lot.
1615 WESTWOOD BLVD. CREATIVE OFFICE SPACE
II II II □□□
SUITE 203 II SUITE 202 SUITE 201
� � II II
r1::� □□□fl
-� (l.. :i_n ' -s� I
COMMON AREA: 1.045 SF = ' � \JU [D SUITE 20-1 SUITE 205 -1
I,-, I I L__J
AA □ [_ � � I I LOBBY! □ 88
11 I I � � \J �ii� L> 11]r, � re
SUITE 206 Ui � \j./\_ /\A
n 17 n n
I I �o □_I
-u-
-
l -=
/llf\�; =-
C, SUITE 200
RENT ABLE: 000 SF - -US,\BLE: 975 SF
I I f-f--
- -
��
17 L_J
:,=
r--
-1fl"
0
' l[g
Notes: Floor plans for information purposes only. Layout and scale may vary.
FLOOR PLAN
9
SECOND FLOOR (1615 WESTWOOD BOULEVARD)The second floor is approximately 3,000 SF and comprised of a number of private offices, lobby, kitchenette, two restrooms and a meeting room. The second floor is clear span making it easy for a buyer or tenant to redesign to suit to their needs. The ceiling height is approximately 10 feet (buyer to verify). There is one lease in place for suites 202 & 203 that expires on May 31st, 2021.
PROPERTY HIGHLIGHTS
Photo of the first floor
101615 Westwood Boulevard | OFFERING MEMORANDUM
EXCEPTIONAL ANTI-COVID OPPORTUNITY
1615 Westwood Boulevard is a low-rise creative office building perfectly suited for an investor seeking to lease-up all or partial space, or for an innovative owner user or tenant looking for a self-isolated environment or headquarters highly desired to protect employees and customers amongst COVID-19.
HIGHLY VISIBLE RETAIL CORRIDOR
The building is situated along highly visible Westwood Boulevard, a pedestrian friendly retail corridor and features great frontage (50 ft) on between major arteries Wilshire Boulevard and Santa Monica Boulevard. The major intersection at Wilshire Boulevard and Westwood Boulevard, north of the subject property, is traveled by an estimated 128,478 VPD. The major intersection at Santa Monica Boulevard and Westwood Boulevard, south of the subject property, is traveled by an estimated 61,468 VPD.
MODERN SLEEK ARCHITECTURE & DESIGN
The building is an aesthetic gem. Constructed in 1948, the building underwent significant remodel in 2006, which transformed it into a sleek, modern creative space suitable for the architecture who designed it. Building features include hardwood and polished concrete flooring, modern, sleek finishes, large floor to ceiling glass windows and walls, and large pyrimidine shaped atrium skylight, all which pour in natural lighting. The second floor is clear span and can be easily redesigned to include an interior stairwell, elevator, or a more open floor plan.
Photos of the second floor11
EXCEPTIONAL ANTI-COVID OPPORTUNITY
HIGHLY VISIBLE RETAIL CORRIDOR
MODERN SLEEK ARCHITECTURE & DESIGN
121615 Westwood Boulevard | OFFERING MEMORANDUM
CLOSE PROXIMITY TO TRANSPORTATION, UCLA, FUTURE GOOGLE OFFICES & AMPLE AMENITIES1615 Westwood Boulevard provides immediate access to several primary transportation arteries including the 405-Freeway, Santa Monica Boulevard, and Wilshire Boulevard. The property is also situated amongst pedestrian friendly streets and a large concentration of restaurants, bars, cafés, and entertainment venues. The property is less than 1-mile south of the University of California, Los Angeles (UCLA), the 5th largest City employer, with over 110,000 students enrolled in 2019. Westwood Village is popular with the barge of UCLA students living nearby and includes major retailers and eateries. Additionally, 1615 Westwood Boulevard is 1.5 miles away from the future site of Google offices. Google has signed a 14-year lease for almost 600K SF of office space, which will be known as One Westside ( formerly Westside Pavilion) when it is complete in 2022.
HIGHLY-EDUCATED, AFFLUENT DEMOGRAPHICSSixty-six percent of Westwood residents aged 25 and older had earned a four-year degree by 2000, a high figure for both the city and the county. The percentages of residents of that age with a master’s degree or higher was the third-highest in the county. Westwood is surrounded by some of Los Angele’s posh residential districts such as Holmby Hills, Brentwood, Bel Air, and Beverly Hills.
TRANSIT-ORIENTED LOCATIONThe Metro’s Purple Line station will be added near Wilshire and Westwood Boulevards as part of Section 3 of the Purple Line Extension Transit Project. Section 3 will add 2.56 miles of new rail to Metro’s Rail system and connect downtown Los Angeles to the Westside. Given its location on a highly utilized East/West thoroughfare, the station will create seamless links to travel destinations along and near Westwood and Wilshire Boulevards, such as UCLA, Westwood Village and The Hammer Museum. The expansion of the Metro’s Purple Line designates the subject property as a TOC Tier 3 zoned parcel. Completion of the purple line station is slated for 2026.
RENDERING UCLA/WESTWOOD PURPLE LINE STATION
RENDERING OF ONE WESTSIDE (FUTURE SITE OF GOOGLE OFFICES
REAR BUILDING WITH PARKING
13
N
WESTWOOD BOULEVARD
N
141615 Westwood Boulevard | OFFERING MEMORANDUM
WESTW
OO
D BOULEVARD
N
15
FIRST FLOOR
161615 Westwood Boulevard | OFFERING MEMORANDUM
17
SECOND FLOOR
181615 Westwood Boulevard | OFFERING MEMORANDUM
19
201615 Westwood Boulevard | OFFERING MEMORANDUM
WESTWOOD, CA
1615 Westwood Boulevard is located in Westwood, an affluent Los Angeles neighborhood brimming with Hollywood history, culture, and home to one of the top universities in the nation, UCLA. The Westwood neighborhood began development in 1919, when a new campus of the University of California opened in 1926. Westwood Village opened three (3) years later, in 1929.
HOME TO HISTORICAL LANDMARKS, THEATERS, MUSEUMS & MORE
Walker’s Paradise
WALK SCORE
9621
1615 Westwood Boulevard is located in Westwood, an affluent Los Angeles neighborhood brimming with Hollywood history, culture, and home to one of the top universities in the nation, UCLA. The Westwood neighborhood began development in 1919, when a new campus of the University of California opened in 1926. Westwood Village opened three (3) years later, in 1929. It is located in Westwood, an affluent Los Angeles neighborhood brimming with Hollywood history, culture, and home to one of the top universities in the nation, UCLA. The Westwood neighborhood began development in 1919, when a new campus of the University of California opened in 1926. Westwood Village opened three (3) years later, in 1929.
1615 Westwood Boulevard is walking distance from renowned Westwood Village. Originally developed by Janss Investment Company in the late 1920’s, Westwood Village has held it’s ground as a popular shopping district for close to a century. It’s popularity has largely stemmed from encompassing UCLA, acting as UCLA’s college town. Constantly full with UCLA students and tourists alike, Westwood Village features well known landmarks such as the Hammer Museum, and Fox Theater. It’s also home to Stan’s Donuts and Diddy Riese, local cult favorites for donuts and ice cream sandwiches respectively.
Other attractions include Westwood Village Memorial Park Cemetery and the Geffen Playhouse. Westwood Village is located adjacent to Holmby Hills and Bel Air, two of the wealthiest residential areas in Los Angeles.
AREA AMENITIES
1
2
3
3
5
6
1. Chevron2. Cost Plus World Market3. Beverly Hills Porsche (Dealership & Service)4. Sherwin Williams5. Sunnin Bakery6. Quin West Noodles7. Thai Fresh8. Sprouts9. Westwood Barber Shop10. Westwood Music11. Chase Bank12. FedEx13. Nuka Cafe14. Bristol Farms15. Starbucks16. T-Mobile17. Armando Shoes and Repair18. Flame Persian Cuisine19. Seven Eleven20. Pomodoro Trattoria21. La Table de Sophie22. Saffron & Rose Ice Cream23. Pro Boxing Supplies
221615 Westwood Boulevard | OFFERING MEMORANDUM
6
N
9
4
10
7
8
15
17 18
1921
2322
20
1213
1614
11
23
Westwood Boulevard
1611-1615
TOTAL POPULATION
1 Mile 50,465
3 Mile 278,516
5 Mile 634,420
TOTAL HOUSEHOLDS
1 Mile 24,550
3 Mile 124,204
5 Mile 290,511
AVERAGE H.H. INCOME
1 Mile $120,665
3 Mile $126,746
5 Mile $127,152
MEDIAN H.H. INCOME
1 Mile $89,286
3 Mile $94,189
5 Mile $94,469
TOTAL BUSINESSES
1 Mile 6,390
3 Mile 29,934
5 Mile 60,214
CONSUMER SPENDING
1 Mile $706,504,919
3 Mile $3,721,259,566
5 Mile $8,691,455,166
241615 Westwood Boulevard | OFFERING MEMORANDUM
N
WESTWOOD
MARINA DEL REYMARINA DEL REY25
SANTA MONICASANTA MONICA
BRENTWOODBRENTWOOD
BEVERLY HILLSBEVERLY HILLS
CENTURY CITYCENTURY CITY
CULVER CITYCULVER CITYMAR VISTAMAR VISTA
SAWTELLESAWTELLE
HOLLYWOODHOLLYWOOD
WEST WEST HOLLYWOODHOLLYWOOD
CENTRAL LACENTRAL LA
MIRACLE MILEMIRACLE MILE
SOUTH SOUTH CENTRAL LACENTRAL LA
CRENSHAWCRENSHAW
LADERA LADERA HEIGHTSHEIGHTS
WESTCHESTERWESTCHESTER
VENICEVENICE
PACIFIC PACIFIC PALISADESPALISADES Westwood
Boulevard
1611-1615
©2021 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission.
This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company or by the Seller.
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.
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.
Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
DISCLAIMER
T.C. Macker, CCIMPresidentD. [email protected]# 01232033
Jennifer MoscosoAssociateD. [email protected]# 02044716
FOR MORE SALE INFORMATION CONTACT LISTING BROKERS:
WESTMAC Commercial Brokerage Company1515 S. Sepulveda Blvd., Los Angeles, CA 90025Phone 310.778.7700Company DRE# 01096973www.westmac.com
Los Angeles, CA 90024Westwood Boulevard
1611-1615
