±1.51 ACRE MULTIFAMILY MIXED-USE DEVELOPMENT SITE …...THE ENCLAVE AT WARNER CENTER. 195 UNITS....
Transcript of ±1.51 ACRE MULTIFAMILY MIXED-USE DEVELOPMENT SITE …...THE ENCLAVE AT WARNER CENTER. 195 UNITS....
Laurie Lustig-BowerExecutive Vice President+1 310 550 [email protected]. 00979360
Kamran PaydarVice President+1 310 550 2529 [email protected]. 01242590
VICTORY BLVD
VICTORY BLVD
VARIEL AVE
VARIEL AVE
CANOGA AVECANOGA AVE
KITTRID
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KITTRID
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±1.51 ACRE MULTIFAMILY MIXED-USE DEVELOPMENT SITEUP TO 4.5:1 FAR
LOCATED IN WARNER CENTER SPECIFIC PLANEXISTING IN-PLACE INCOME21161
V I C TO R Y B LV DCANOGA PARK, CA
21161VICTORY BLVD
Zoo CultureRoyal OrchidFlooky’sThe Pampered Pet Hotel & SpaU-HaulFerguson Bath, Kitchen & Lighting Gallery
www.21161Victory.comOffers Due: Thursday, April 16, 2020 by 5:00 PM
Friday, May 15, 2020 by 5:00 PM(Extended due to COVID-19)
© 2019 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBREneither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. TheInformation is protected by copyright and shall be fully enforced.
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PACIFIC OCEAN
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LOS FELIZLOS FELIZ
DOWNTOWNDOWNTOWNLOS ANGELESLOS ANGELES
CHINATOWNCHINATOWN
HOLLYWOODHOLLYWOOD
ECHO ECHO PARKPARK
KOREATOWNKOREATOWNMID-WILSHIREMID-WILSHIRE
BEVERLY HILLSBEVERLY HILLS
SANTASANTAMONICAMONICA
VENICEVENICE
INGLEWOODINGLEWOOD
CULVER CITYCULVER CITY
CENTURY CITYCENTURY CITY
UNIVERSITY OF UNIVERSITY OF CALIFORNIA,CALIFORNIA,
LOS ANGELESLOS ANGELES
UNIVERSITY OF UNIVERSITY OF SOUTHERN CALIFORNIASOUTHERN CALIFORNIA
LAXLAX
KENNETH HAHN STATE KENNETH HAHN STATE RECREATION AREARECREATION AREA
CRENSHAWCRENSHAWMAR VISTAMAR VISTA
PLAYA DEL REYPLAYA DEL REY
VERNONVERNON
HUNTINGTONHUNTINGTONPARKPARK
SOUTH GATESOUTH GATE
SOUTHSOUTHLOS ANGELESLOS ANGELES
HIGHLAND HIGHLAND PARKPARK
WESTWESTHOLLYWOODHOLLYWOOD
MARINA MARINA DEL REYDEL REY
PICO UNIONPICO UNION
LEIMERT PARKLEIMERT PARK
GRIFFITH GRIFFITH OBSERVATORYOBSERVATORY
BEL AIRBEL AIRTOPANGA TOPANGA STATE PARKSTATE PARK
WOODLANDWOODLANDHILLSHILLS
RESEDARESEDA
ENCINOENCINO
CANOGA PARKCANOGA PARK
VAN NUYSVAN NUYS
SHERMAN OAKSSHERMAN OAKS
NORTH NORTH HOLLYWOODHOLLYWOOD
BURBANKBURBANK
GLENDALEGLENDALE
UNIVERSAL CITYUNIVERSAL CITY
PACIFICPACIFICPALISADESPALISADES
BRENTWOODBRENTWOOD
BOB HOPEBOB HOPEAIRPORTTAIRPORTT21161
V I C TO R Y B LV D
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VICTORY BLVD
VICTORY BLVD
Executive SummaryPAGE 8
Property OverviewPAGE 15
Area HighlightsPAGE 22
ComparablesPAGE 33
TABLE OF CONTENTS
CONTACTS
Laurie Lustig-BowerExecutive Vice President+1 310 550 [email protected]. 00979360
Kamran PaydarVice President+1 310 550 2529 [email protected]. 01242590
www.21161Victory.com
Offers Due: Thursday, April 16, 2020 by 5:00 PM
Friday, May 15, 2020 by 5:00 PM
(Extended due to COVID-19)
West View
21161VICTORY BLVD
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VELA ON OXFAIRFIELD RESIDENTIAL379 UNITSDELIVERED DEC. 2018
6041 VARIEL AVE.BCEGI263 UNITSUNDER CONSTRUCTION
THE Q VARIELCALIFORNIA HOME BUIDERS245 UNITSUNDER CONSTRUCTION
6233 VARIEL AVE.SOUTH BAY PARTNERS336 UNITS (SENIORS HOUSING)PROPOSED
6109 DE SOTO AVE.CALIFORNIA HOME BUIDERS368 UNITSPROPOSED
EVOLUTION WARNER CENTEREVOLUTION STRATEGIC PARTNERS277 UNITS UNDER CONSTRUCTION
6636 VARIEL AVE.THE HANOVER COMPANY395 UNITS UNDER CONSTRUCTION
MIRACITYVIEW174 UNITS UNDER CONSTRUCTION
Zoo CultureRoyal OrchidFlooky’sThe Pampered Pet Hotel & SpaU-HaulFerguson Bath, Kitchen & Lighting Gallery
Glowzone LASky High SportsU-HaulIron Battalion CrossFitTakano Weightlifting
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APPROXIMATELY 1.9 MILES T0 101 FWY
TO MALIBU & PACIFIC OCEANTO MALIBU & PACIFIC OCEANSouth View
21161VICTORY BLVD
VICTORY BLVDVICTORY BLVD
VARIEL A
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APPROXIMATELY 1.5 MILES FROM SITE
DE SOTO A
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THE Q VARIELCALIFORNIA HOME BUIDERS245 UNITSUNDER CONSTRUCTION
6041 VARIEL AVE.BCEGI263 UNITSUNDER CONSTRUCTION
VELA ON OXFAIRFIELD RESIDENTIAL379 UNITSDELIVERED DEC. 2018
6233 VARIEL AVE.SOUTH BAY PARTNERS336 UNITS (SENIORS HOUSING)PROPOSED
AMLI WARNER CENTER522 UNITS
Zoo CultureRoyal OrchidFlooky’sThe Pampered Pet Hotel & SpaU-HaulFerguson Bath, Kitchen & Lighting Gallery
5 | www.21161Victory.com
East View
VICTORY BLVD
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VARIEL AVEVARIEL AVE
LOS ANGELES RIVER
LOS ANGELES RIVER
MORE THAN 60 DISCIPLINES,111 DEGREE PROGRAMS
TAUGHT TO 22,000 STUDENTS
DE SOTO AVEDE SOTO AVE
EVOLUTION WARNER CENTEREVOLUTION STRATEGIC PARTNERS277 UNITS UNDER CONSTRUCTION
6636 VARIEL AVE.THE HANOVER COMPANY395 UNITS UNDER CONSTRUCTION
DE SOTO STATIONMETRO ORANGE LINE
(0.4 MILES)
CANOGA STATIONMETRO ORANGE LINE
(0.2 MILES)
AMLI WARNER CENTER522 UNITS
REVEAL438 UNITS
THE ENCLAVE AT WARNER CENTER195 UNITS
OCEANO AT WARNER CENTER244 UNITS
21161VICTORY BLVD
Zoo CultureRoyal OrchidFlooky’sThe Pampered Pet Hotel & SpaU-HaulFerguson Bath, Kitchen & Lighting Gallery
6 | www.21161Victory.com
North View
VICTORY BLVDVICTORY BLVD
VARIEL AVE
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CANOGA AVE
CANOGA AVE
CANOGA STATIONMETRO ORANGE LINE
(0.2 MILES)
VANOWEN STVANOWEN ST
EVOLUTION WARNER CENTEREVOLUTION STRATEGIC PARTNERS277 UNITS UNDER CONSTRUCTION
6636 VARIEL AVE.THE HANOVER COMPANY395 UNITS UNDER CONSTRUCTION
AMLI WARNER CENTER522 UNITS
REVEAL438 UNITS
THE ENCLAVE AT WARNER CENTER195 UNITS
MIRACITYVIEW174 UNITS UNDER CONSTRUCTION
YAYA VANOWENYAYA GROUP101 UNITSUNDER CONSTRUCTION
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21161V I C TO R Y B LV D
CANOGA PARK, CA
VICTORY BLVDVICTORY BLVD
EXECUTIVE SUMMARYEXECUTIVE SUMMARY
CBRE, Inc., as exclusive agent, is pleased to present for sale ±1.51 acre development site with the potential to build a multifamily mixed-use project of up to 4.5:1 floor area ratio (FAR) in the desirable Warner Center/Woodland Hills submarket of Los Angeles, California.
Located at 21161 Victory Boulevard, the Property boasts an excellent Warner Center location that is proximate to three malls:
• The Village at Westfield Topanga (mixed-use, open-air shopping and dining with ±100 stores);
• Westfield Topanga (regional indoor mall);
• Westfield Promenade (34-acre property envisioned for redevelopment to include expansive community open space, residential units, shops, cafes, hospitality and an entertainment/sports center.)
Additionally, the Property’s neighborhood enjoys restaurants such as Fleming’s Steakhouse and Roy’s Asian Fusion as well as its desirous location within the San Fernando Valley’s urban core with over six million square feet of office space.
Along with its outstanding location, the future development envisioned for this site will benefit from Woodland Hills’ strong multifamily fundamentals, favorable income and education demographics, and adjacency to the Metro Orange Line.
21161 Victory Boulevard is offered to the market on an unpriced basis.
Offers due Thursday, April 16, 2020 by 5:00 PM.
Friday, May 15, 2020 by 5:00 PM
(Extended due to COVID-19)
THE OPPORTUNITY
VICTORY BLVDVICTORY BLVD
The Property offers the added benefit of existing in-place income. With ±36,834 square feet of neighborhood-serving restaurant/retail and small office space, the Property generates approximately $600,000 of income annually.
Front of Existing StructureFront of Existing Structure
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Opportunity Highlights
Strong Visibility with ±392 Feet of Frontage Along Victory Blvd
Prime Victory Blvd. Location High-Identity Site at Heavily Trafficked Victory Blvd.
• One of the Highest Traffic Intersections in the San Fernando Valley
Exposure up to 36,710 Vehicles Per Day
VICTORY BLVD
VICTORY BLVD
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Opportunity Highlights (continued)
• Outstanding Demographics (Warner Center):
• 2024 Projected Average Household Income: $111,943
• Percent of Households with $100,000+ Income: 32.4%
• Population Over age 25 with Associate’s, Bachelor’s, Master’s, Professional or Doctoral Degrees: 58.5%
• Outstanding location in the desirable Warner Center/Woodland Hills submarket: Proximate to the newly built open-air retail center The Village at Westfield Topanga, Westfield Topanga regional mall and Westfield Promenade shopping center with nearly 350 top brands, restaurants and entertainment options.
• Local retailers include: Apple Store, Nordstrom, Neiman Marcus, Target, Macy’s, REI, Costco, Williams Sonoma, Crate & Barrel.
• Restaurants include: Joey Woodland Hills, Roy’s Asian Fusion, Fleming’s Steakhouse, California Pizza Kitchen, Cheesecake Factory, Il Fornaio Cucina Italiana, EMC Seafood & Raw Bar, El Torito, Island’s Restaurant, P.F. Chang’s.
• Walking distance to Warner Center office buildings with over six million square feet office space. Approximately 40,000 employees work within the Warner Center area. Major employers include HealthNet Inc., Zenith Insurance, Kaiser Permanente Hospital, Pratt & Whitney, Pierce College.
• Free Red Trolley service connection between Westfield properties via local streets with plans to add additional Warner Center pickup locations.
• Immediate access to major San Fernando thoroughfares including De Soto Avenue, Canoga Avenue, Victory Boulevard, Burbank Boulevard, and Topanga Canyon Boulevard.
• Transportation linkages via Highway 101 and the 118 Freeway.
• Walking distance to Metro Orange Line Warner Center Transit Hub: Two transit stops are located within walking distance of the Property, linking Warner Center and North Hollywood, with further Metro Red Line service to Downtown Los Angeles.
• Located within the Warner Center 2035 Specific Plan: An important regional hub for the entire San Fernando Valley.
• Future Transportation Hub Plan for the intersection of Variel Avenue and Oxnard Street.
SAN FERNANDO VALLEYSAN FERNANDO VALLEY
VICTORY BLVD
VICTORY BLVD
CANOGA AVECANOGA AVE
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Price:
The Property is being marketed unpriced.
Offers due:Thursday, April 16, 2020 by 5:00 PM Friday, May 15, 2020 by 5:00 PM(Extended due to COVID-19)
For more information, please visit:
www.21161Victory.com
• 93% APARTMENT OCCUPANCY RATE
• 235,146 PROJECTED POPULATION WITHIN 3 MILES BY 2024
• STRONG ABSORPTION OF NEW MULTIFAMILY RESIDENTIAL UNITS
Strong Submarket Multifamily Fundamentals
21161 VICTORY BLVD IS AN OUTSTANDING DEVELOPMENT OPPORTUNITY IN A THRIVING LOS ANGELES REGIONAL HUB THAT BRINGS TOGETHER MULTIFAMILY RESIDENTIAL, OFFICE EMPLOYMENT, DESTINATION RETAIL, HOSPITALITY, HIGHER EDUCATION, AND PUBLIC TRANSIT USES.
21161VICTORY BLVD
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Zoo CultureRoyal OrchidFlooky’sThe Pampered Pet Hotel & SpaU-HaulFerguson Bath, Kitchen & Lighting Gallery
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21161 VICTORY BLVD IS LOCATED IN A 21161 VICTORY BLVD IS LOCATED IN A BOOMING RESIDENTIAL AREA.BOOMING RESIDENTIAL AREA.
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EXISTING UNDER CONSTRUCTION PROPOSED
1 VELA ON OX 379 UNITS - DELIVERED DEC 2018
5 TRIANA APTS 362 UNITS
9 6041 VARIEL AVE 263 UNITS - BCEGI
11 6109 DE SOTO AVE358 UNITS - CALIFORNIA HOME BUILDERS
2 BELLA VISTA APTS 579 UNITS
6 THE POINTE APTS136 UNITS
10 THE Q VARIEL 245 UNITS - CALIFORNIA HOME BUILDERS
12 6233 N. VARIEL AVE (SENIORS HOUSING)336 UNITS - SOUTH BAY PARTNERS
3 THE MOTIF APTS 395 UNITS
7 SOFI WARNER CENTER 224 UNITS
EVOLUTION WARNER CENTER 277 UNITS - Evolution Strategic Partners
4 THE MONTECITO APTS 85 UNITS
8 OCEANO 244 UNITS
6636 VARIEL AVE 395 UNITS - The Hanover Company
NEIGHBORING RESIDENTIAL PROPERTIES
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DeveloperNo. of Units
Year Built
Leas
e U
p Vela on Ox21221 W Oxnard St
Fairfield Residential 379 2019
Un
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Co
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ion
Mira21425 Vanowen St CityView 174 Est.
2020
6636 Variel Avenue6636 Variel Ave
The Hanover Company 395 Est.
2021
The Q Variel6200 Variel Ave
California Home Builders 245 Est.
2020
The Q West6263 Topanga Canyon Blvd
California Home Builders 347 Est.
2020
Evolution Warner Center6606 Variel Ave
Evolution Strategic Partners 277 Est.
2020
6041 Variel Avenue6041 Variel Ave
BCEGI International 263 Est.
2020
The Clarendon22121 Clarendon St AMCAL Housing 335 Est.
2020
Yaya Vanowen21121 Vanowen St
Yaya Vanowen, LLC 101 -
Oth
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Amazon Grocer6245 Topanga Canyon Blvd
PCG Woodland Hills LLC
33,574 SF Retail
Nov. 2019
Home2 Suites by Hilton5957 Variel Avenue
FPG Development Group
174 Guest Rooms
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Source: Axiometrics; CBRE Research
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
Woodland Hills Development Pipeline
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© 2019 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBREneither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. TheInformation is protected by copyright and shall be fully enforced.
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21161V I C TO R Y B LV D
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VICTORY BLVDVICTORY BLVD
property overviewproperty overview
Investment Summary
Address
21161 Victory Blvd., Canoga Park, CA 91303
Submarket
Woodland Hills
Assessor Parcel Number
2148-031-015
Land Area
±1.51 Acres (±65,579 Square Feet)
Current Zoning
(WC)UPTOWN-SN-RIOhttps://planning.lacity.org/odocument/3eadcb84-d31e-4666-9811-ad55f4f67d93
Existing Improvements
One Building totaling ±36,840 square feet
Ownership
Fee Simple
Entitled
No
Council District
CD 3 - Bob Blumenfield
21161 Victory BlvdCanoga Park, CA 91303
21161VICTORY BLVD
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21161 Victory Boulevard - Rent Roll as of March 2020
Weiler’s Deli was established in 1967 and
occupies ±3,640 square feet at 21161 Victory
Blvd. The owner of Weiler’s is interested
in discussing the potential for Weiler’s to
occupy space in the new mixed-use project.
Unit Sq. Ft.Market Rent Rent Lease From Lease To Remarks
VVP-201 1,356 $2,237 $2,095 11/01/2018 10/31/2020 No Option to Renew
VVP-203 1,243 $2,051
VVP-205 776 $1,280 $1,025 11/01/1995 M-M
VVP-206 726 $1,198 $1,089 11/01/2014 02/28/2022 Option to extend One (1) Addl 3-YR Period
VVP-207 1,243 $2,051
VVP-209 1,320 $2,178 $2,034 03/01/2019 02/28/2022 Option to extend One (1) Addl 3-YR Period
VVP-211 475 $784 $550 05/01/2014 M-M
VVP-212 397 $655 $400 04/01/2010 M-M
VVP-213 897 $1,480 $1,300 10/16/2013 M-M
VVP-214 1,915 $3,160 $2,702 9/1/2012 10/31/2022
VVP-214A 449 $741 $600 01/01/2016 M-M
VVP-215 787 $1,299 $1,180 03/01/2019 02/28/2022 Option to extend One (1) Addl 3-YR Period
VVP-216 1,172 $1,934
VVP-217 1,243 $2,051
VVP-217 B 699 $1,153
VVP-217-A 675 $1,114 $850 09/01/2016
VVP-218 250 $413 09/01/1998
VVP-219 584 $964 $1,050 05/01/1998 M-M
VVP-220 450 $743
VVP-221 495 $817 $700 06/01/2013 M-M
VVP-222 904 $1,492
VVP-225 670 $1,106
VVP-21101 670 $1,675 $1,000 06/01/1999 M-M
VVP-21103 750 $1,875
VVP-21111 910 $2,275 $2,002 06/01/2019 05/31/2021 Option to extend One (1) Addl 2-YR Period
VVP-21115 1,040 $2,600 $2,251 09/01/2015 08/31/2021 Option to extend One (1) Addl 5-YR Period
VVP-21119 1,200 $3,000
VVP-21123 1,200 $3,000 $3,400 09/01/2008 08/31/2025
VVP-21127 1,200 $3,000 $2,450 08/01/1993 M-M
VVP-21131 1,200 $3,000 $2,701 12/01/2015 11/30/2020 Option to extend One (1) Addl 5-YR Period
VVP-21135 1,078 $2,695 $2,300 05/01/2007 M-M
VVP-21137 400 $1,000 11/15/2001
VVP-21139 2,420 $6,050 $2,732 10/01/2012 09/30/2022 Lease Option is exercised and will end 9/30/22
VVP-21147 1,200 $3,000 $2,366 01/01/2011 M-M
VVP-21151 1,200 $3,000 $2,000 02/01/2020 01/31/2023 With re-development cancellation of lease clause
VVP-21161 3,640 $9,100 $10,122 01/01/1995 12/31/2023 Option to extend Two (2) Addl 5-YR Period
36 Units 36,834 $76,168 $48,899 17 | www.21161Victory.com
Warner Center 2035 Specific Plan
Within Woodland Hills, the Warner Center 2035 Plan (WC 2035 Plan) is a development blueprint for Warner Center that emphasizes mixed-use and transit-oriented development, walkability, and sustainability.
The WC 2035 Plan considers development fundamental to supporting regional transportation investments such as the Metro Orange Line and, as a result, creating a vibrant Transit Oriented District (TOD) based upon sustainability, community connectedness, accessible public transit, and promotion of innovative businesses, job diversity, and a safe and friendly pedestrian environment.
Key elements of the Plan include:
• A growth strategy that encourages and incentivizes infill development and redevelopment of existing properties.
• Creating of a place where people can live, work and play and where day-to-day needs can be met locally by walking, bicycling or other “small slow vehicles”, and local transit.
• Creating a network of publicly accessible open spaces to encourage public gathering and pedestrian activity.
TOPANGA CANYON BLVD
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VANOWEN STVANOWEN ST
WARNER CENTER 2035 PLAN
21161VICTORY BLVD
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Uptown District - Development Standards
Uses All typical residential, retail, and office uses permitted by right
FAR 4.5:1
Density Unlimited, provided that all dwelling units are a minimum of 300 SF
Height Unlimited, but any building over 75 feet may be subject to additional conditions per Mitigation Monitoring Program
Setbacks Front setback of 12 feet required (15ft max. setback)
Parking Residential Uses
Min. 1 parking stall per unit, max. 2 stalls per unit
Projects with over 100 units are exempt from providing guest stalls
Commercial Uses
Min. 2 stalls per 1,000 SF, max.4 stalls per 1,000 SF
Mixed-Use projects are subject to parking regulations in proportion to division of residential and non-residential uses; shared parking may be permitted
Uptown District
The Property is located within the Uptown District of Warner Center which is generally bounded by Vanowen Street to the north, the Orange Line Busway to the intersection of Variel Avenue and Victory Boulevard to the east, Victory Boulevard to the south and Topanga Canyon Boulevard to the west.
This District will provide “Creative Sector” jobs with a balance of housing to create a complete neighborhood. “Creative Sector” jobs will include those in the research/development and professional technical fields. The Uptown District will accommodate a substantial number of new jobs, along with new housing, all within close proximity of the Canoga Metro Orange Line station. Redevelopment of properties in the District will create new private streets to allow more manageable and walkable blocks. The regulations set forth for this District provide incentives for a community shopping center that includes a supermarket and drugstore in the Uptown District.
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NORTHVILLAGE
VANOWEN STVANOWEN ST
VICTORY BLVDVICTORY BLVD
ERWIN STERWIN ST
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BURBANK BLVDBURBANK BLVD
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TOPANGA CANYON BLVDTOPANGA CANYON BLVD
DE SOTO AVEDE SOTO AVE
Canoga StationCanoga Station
De Soto StationDe Soto Station
WARNER CENTER WARNER CENTER SHUTTLESHUTTLE
WESTFIELD
WESTFIELD
TROLLEY TROLLEY
Westfield Westfield TopangaTopanga
The Village The Village at Topangaat Topanga
Westfield Westfield PromenadePromenade
Kaiser PermanenteKaiser PermanenteWoodland HillsWoodland Hills
CostcoCostco
METRO ORANGE LINE
METRO ORANGE LINE
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19 | www.21161Victory.com
Warner Center 2035 Specific Plan Entitlement Process
The Warner Center Specific Plan process and associated Environmental Review combine to streamline the entitlements process for planned developments. The following items should be taken into consideration for any proposed project within the Specific Plan area:
• Entitlements Process – in lieu of the city’s typical Site Plan Review process for a project resulting the construction of 50 net new dwelling units or 50,000 net new gross square feet, projects within the Warner Center Specific Plan area are subject to Project Permit Compliance, an expedited discretionary approval process administered by the Department of City Planning
• Environmental Review – As part of the Warner Center Specific Plan approval process, the City certified a Master EIR contemplating large-scale development within the area. As a result, most projects within the Plan area can be approved under a Negative Declaration (ND) or Mitigated Negative Declaration (MND).
• Incentivized Uses – The plan provides development bonuses for a number of uses that the city wishes to target in the area. The project can utilize one bonus per incentivized use provided. The incentives & bonuses include:
Incentivized Uses Bonuses
Fully subterranean parking Additional 0.5:1 FAR
Local-serving retail Mobility fee reduction
Community-serving uses Can be aggregated if multiple uses are provided
Additional publicly accessible open space
LEED Gold or equivalent project
• Urban Design Guidelines – Projects within Warner Center are subject to Design Review approval to ensure compliance with the Urban Design Guidelines contained within the specific plan.
• A developer proposing a project conforming to the Warner Center Specific Plan can process approvals through the “Project Permit Compliance” process which the City estimates will take 4-6 months for approvals. No separate CEQA approvals are required.
Download a copy of the Warner Center 2035 Plan: https://planning.lacity.org/complan/specplan/pdf/WarnerC.pdf
A DEVELOPER PROPOSING
A PROJECT CONFORMING
TO THE WARNER CENTER
SPECIFIC PLAN CAN PROCESS
APPROVALS THROUGH THE
“PROJECT PERMIT
COMPLIANCE” PROCESS
WHICH THE CITY ESTIMATES
WILL TAKE 4-6 MONTHS
FOR APPROVALS.
20 | www.21161Victory.com
Los Angeles River
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VANOWEN STVANOWEN ST
VICTORY BLVDVICTORY BLVD
ERWIN STERWIN ST
OXNARD STOXNARD ST
BURBANK BLVDBURBANK BLVDCANOGA AVECANOGA AVE
OWENSMOUTH AVE
OWENSMOUTH AVE
DE SOTO AVEDE SOTO AVE
VARIEL AVEVARIEL AVE
TOPANGA CANYON BLVDTOPANGA CANYON BLVD
DE SOTO AVEDE SOTO AVE
Canoga StationCanoga Station
De Soto StationDe Soto Station
METRO ORANGE LINEMETRO ORANGE LINE
WARNER CENTER WARNER CENTER SHUTTLESHUTTLE
WESTFIELD TROLLEY
WESTFIELD TROLLEY
Westfield Westfield TopangaTopanga
The Village The Village at Topangaat Topanga
Westfield Westfield PromenadePromenade
Kaiser PermanenteKaiser PermanenteWoodland HillsWoodland Hills
Pierce CollegePierce College
Daily Traffic Counts Victory Blvd/ Variel Ave 32,330
Variel Ave/Victory Blvd 10,360
Victory Blvd/Independence Ave
36,070
Victory Blvd/De Soto 36,710
101 Fwy/Canoga Ave 229,000
METRO Orange LineDe Soto Station to North Hollywood Station 40 mins
North Hollywood Station to Wilshire Vermont 20 mins
Wilshire Vermont to 7th Street DTLA Metro 4 mins
WINNETKA AVE
WINNETKA AVE
SHOUP AVESHOUP AVE
Warner Center ShuttleThe Warner Center Shuttle began service in 2018, offering improved access within Warner Center. The line consists of 10 stops, beginning at Canoga Station and includes stops at Westfield Topanga, The Village, Warner Center Corporate Park, Kaiser Permanente. The shuttle operates 7 days a week, every 10 minutes during most times of the day.
21161VICTORY BLVD
21 | www.21161Victory.com
21161V I C TO R Y B LV D
CANOGA PARK, CA
VICTORY BLVDVICTORY BLVD
area highlightsarea highlights
Warner Center Restaurants, Shops & AmenitiesShopping
1 Target
2 Macy's
3 Nordstrom
4 Crate & Barrel
5 REI
6 Verizon
7 Costco Wholesale
8 Nordstrom Rack
9 Best Buy
10 Fry's Electronics
Fitness
31 Cardio Barre
32 Equinox
33 24 Hour Fitness
34 LA Fitness
Lodging
35 Hilton
36 Marriott
Attractions
37 AMC Promenade 16
38 Warner Center Park
39 Glowzone LA
Restaurants
11 Gyu-Kaku Japanese BBQ
12 Islands Restaurant
13 California Pizza Kitchen
14 Il Fornaio Cucina Italiana
15 EMC Seafood & Raw Bar
16 Wokano
17 Sushi Katsu-ya
18 Fleming's Steakhouse
19 Ruth's Chris Steakhouse
20 Maggiano's Little Italy
21 Corner Bakery Café
22 Morton's The Steakhouse
23 PF Chang's
24 BJ's Restaurant
25 El Torito
26 Tomoya Sushi & Izakaya
27 TGI Fridays
28 Daphne's
29 Roy’s Asian Fusion
30 Joey Woodland Hills
Los Angeles River
101
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TOPANGA CANYON BLVDTOPANGA CANYON BLVD
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Canoga StationCanoga Station(1 Mile)(1 Mile)
De Soto StationDe Soto Station(0.8 Miles)(0.8 Miles)
METRO ORANGE LINE
METRO ORANGE LINE
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WARNER CENTER WARNER CENTER SHUTTLESHUTTLE
WESTFIELD WESTFIELD TROLLEYTROLLEY
Kaiser PermanenteKaiser PermanenteWoodland HillsWoodland Hills
2930
39
21161VICTORY BLVD
23 | www.21161Victory.com
The Village at Westfield Topanga
The Village at Westfield Topanga is a $350 million open-air development consisting of 535,000 square feet of retail and 285,000 square feet of office space. Opened in September 2015, The Village brings the best of shopping, restaurants – including al fresco patio dining - and entertainment programming to Warner Center along with a full-service gym and Burke Williams spa.
Retailers at The Village include Costco, Crate and Barrel, Eddie Bauer and REI. Restaurants include EMC Seafood & Raw Bar, Larsen’s Steakhouse, Sushi Katsu-ya, and Il Fornaio Cucina Italiana.
The Village design includes park-like landscaping, pedestrian walkways, water features, outdoor lounges and play areas. A weekly farmer’s market, museum component, year-round arts and culture events, entertainment and music performance programs will bring interconnection that will further enrich the community.
YEAR-ROUND ARTS & CULTURE EVENTS, ENTERTAINMENT, & DINING OPTIONS WITHIN LESS THAN A MILE OF 21161 VICTORY BLVD.
24 | www.21161Victory.com
Westfield Topanga Regional Shopping Center
Located just less than a mile from 21161 Victory Boulevard is Westfield Topanga, one of Southern California’s top regional retail destinations. Westfield Topanga is home to more than 260 top brands, signature dining and entertainment experiences in 1,637,000 SF of retail floor space. The mall showcases the finest in luxury retail including Cartier, Jimmy Choo, Salvatore Ferragamo, Louis Vuitton, Burberry, Gucci and Tiffany & Co.
Westfield Topanga’s impressive tenant roster also includes Abercrombie & Fitch, Adidas, Anthropologie, Apple Store, H&M, Lacoste, Lego, Lenscrafters, L’OCCITANE En Provence, Lululemon, Macy’s, Nordstorm, Sephora, Target, Tesla, Urban Outfitters, Victoria’s Secret, Williams Sonoma and Zara.
The former Sears department store will be transformed into new retail and restaurant options. The long-vacant space - spanning approximately 160,000 square feet - is contractedd for a renovation which will create a triple-height entryway, making the complex more accessible and transparent from both Topanga Canyon and Victory Boulevards. Also, the plans call for improved pedestrian access to The Village at Westfield Topanga - which is located directly south across Victory Boulevard.
Among the new uses planned for the former Sears is a food hall, which would include sit-down restaurants, lounges, and bars. This would be accompanied by plazas and other landscaped spaces.
Completion of the approximately $250-million project is anticipated in 2021.
Westfield Topanga - Rendering of RenovationWestfield Topanga - Rendering of Renovation
“CLEARLY, WESTFIELD IS WILLING TO INVEST IN ITS BRICK-AND-MORTAR PROPERTIES IN A RETAIL CLIMATE THAT HAS SEEN BOOMING GROWTH FOR DIGITAL SHOPPING.”
“$70 MILLION RENOVATION COMING TO WESTFIELD TOPANGA MALL”, LOS ANGELES DAILY NEWS, SEPTEMBER 18, 2018
Westfield Topanga - Rendering of RenovationWestfield Topanga - Rendering of Renovation
25 | www.21161Victory.com
Westfield Promenade Redevelopment
Located approximately 0.7 miles from 21161 Victory Blvd. at Oxnard Street, Westfield Promenade is a shopping mall currently anchored by AMC Theater, Ruth’s Chris Steakhouse, Maggiano’s Little Italy, Corner Bakery Cafe and United States Postal Service.
The proposed $1.5 billion mixed-use project, called Westfield Promenade 2035, aims to create a “downtown district” for the San Fernando Valley. Plans include 244,000 square feet of retail space, residential units, 629,000 square feet of office space, a 572-key hotel, along with a 320,000 square foot, 15,000-seat sports and entertainment center. Plans also call for numerous landscaped plazas and internal streets throughout the property.
Construction would occur in four phases with the first phase to be completed in 2021 and the last phase to be completed in 2033. A full buildout of the Promenade 2035 project would add approximately 3,700 residents and 3,000 jobs to Warner Center. Westfield Promenade - ExistingWestfield Promenade - Existing
Westfield Promenade 2035 - Rendering of Promenade SquareWestfield Promenade 2035 - Rendering of Promenade Square Westfield Promenade 2035 - Rendering of Entire ProjectWestfield Promenade 2035 - Rendering of Entire Project
26 | www.21161Victory.com
Westfield Topanga Luxury
BOSSBurberryCartierDavid YurmanGucciJimmy ChooLouis VuittonMontblancNeiman MarcusOmegaSaint LaurentSalvatore FerragamoStuart WeitzmanTelsa MotorsTiffany & CoTumi
Area Restaurants
EMC Seafood & Raw BarFleming’s SteakhouseGyu-Kaku Japanese BBQIl FornaioIslands RestaurantLarsen’s SteakhouseLucille’s Smokehouse BAR-B-QUEMaggiano’s Little ItalyMorton’s The SteakhouseRuth’s Chris SteakhouseSushi Katsu-yaThe Cheesecake FactoryWokcanoXOC Tequila Grill
The Village
AthletaBitter Room PotteryBriellaBurke Williams Day SpaCAVA Mezze GrilleCrate & BarrelCostcoDrybarEddie BauerFableticsHanna AnderssonJimmy’s Famous American TavernJ. JillJOEY KitchenM. FredericPaper SourcePressed JuiceryPlanet BeautyREISkin LaundrySloan’sSunglass HutSur La TableSweetfinTender GreensZ Gallerie
Westfield Topanga
Abercrombie & Fitch Adidas Alex and AniAnthropologieApple StoreBanana RepublicBCBGMAXAZRIACalifornia Pizza KitchenDr. MartensForever 21Free PeopleGiggles N’ HugsGNCH&MHavaianasKiehl’sL’OCCITANE en ProvenceLegoLiLi’s Beverly HillsLululemonLUSH Handmade CosmeticsMadewellNespressoNordstromPandoraPelotonSephoraTargetUrban OutfittersWilliam Sonoma Zara
27 | www.21161Victory.com
VICT
ORY B
LVD
VICT
ORY B
LVD
OWENSMOUTH AVEOWENSMOUTH AVE
CANOGA AVECANOGA AVE
VARIEL AVEVARIEL AVE
21161 VICTORY BLVD IS AN OUTSTANDING DEVELOPMENT OPPORTUNITY 21161 VICTORY BLVD IS AN OUTSTANDING DEVELOPMENT OPPORTUNITY IN A THRIVING LOS ANGELES REGIONAL HUB THAT BRINGS TOGETHER IN A THRIVING LOS ANGELES REGIONAL HUB THAT BRINGS TOGETHER MULTIFAMILY RESIDENTIAL, OFFICE EMPLOYMENT, DESTINATION RETAIL, MULTIFAMILY RESIDENTIAL, OFFICE EMPLOYMENT, DESTINATION RETAIL, HOSPITALITY, HIGHER EDUCATION, AND PUBLIC TRANSIT USES.HOSPITALITY, HIGHER EDUCATION, AND PUBLIC TRANSIT USES.
21161VICTORY BLVD
Zoo CultureRoyal OrchidFlooky’sThe Pampered Pet Hotel & SpaU-HaulFerguson Bath, Kitchen & Lighting Gallery
Zenith Insurance
United Online Inc.
Unico American Corp
Rach Local Inc.
Pierce College
Girl Scouts of Greater Los Angeles
Avnet Inc.
Intuit Inc.
Redbox
Merrill Lynch
Activision Publishing
ATK Defense Electronics Systems
Viking River Cruises
Medesthetica Medical Group
California Lutheran University
Oplink Communications
Music Reports Inc.
Medtek Net Inc.
Anthem Blue Cross
ReachLocal LLC
Warner Center Major Employers
Warner Center is considered the “Downtown” of the San Fernando and Conejo Valley office markets with over 6.9 million square feet of office space.
The primary office buildings for Warner Center are Farmers Plaza; LNR Warner Center; Warner Center Office Towers; Trillium Complex; Warner Corporate Center; Warner Park Center; Warner Gateway; Warner Premier; 6200 Canoga; Wellpoint Office Tower.
Warner Center employers engage in a diverse range of sectors including real estate, transportation, insurance, accounting, banking, manufacturing and government. Local employers include:
29 | www.21161Victory.com
• Kaiser Permanente Woodland Hills Medical Center is a 280-bed hospital located approximately 1.5 mile from 21161 Victory Blvd. It is the highest ranked hospital in the San Fernando Valley with strength in specialties such as cancer, diabetes, endocrinology, gynecology, orthopedics and urology. In 2019, it was named as a Newsweek 2019 World’s Best Hospital in a survey of more than 2,700 hospitals across the United States.
• Kaiser Permenente Woodland Hills is currently in the process of expanding its campus. Currently under construction is a new emergency department and operating rooms. The expansion project is expected to be completed in October 2020.
Kaiser Permanente Woodland Hills Medical Center
DE SOTO AVE
DE SOTO AVE
VARI
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AVE
VICTORY BLVDVICTORY BLVD
Kaiser Permanente Woodland Hills Medical Center - Photos
APPROXIMATELY 1.9 MILE T0 101 FWY
APPROXIMATELY 1.5 MILES FROM SITE
21161VICTORY BLVD
30 | www.21161Victory.com
Transportation Linkages
21161 Victory Blvd. is located within the primary trade corridor of the West San Fernando Valley.
The Property is served by eight nearby transit routes, shuttles and ride-shares. The METRO Orange Line provides access from Warner Center north to Chatsworth and east to Pierce College, Reseda, Van Nuys, Laurel Canyon and North Hollywood. The METRO Orange and Red Lines connect at North Hollywood Station. The METRO Red Line subway provides service from North Hollywood to Universal City, Hollywood and Downtown Los Angeles, with connection to Koreatown at Wilshire/Vermont Station.
Topanga Canyon Boulevard connects to the 101 Freeway and the 118 Freeway, providing further access to the Greater Los Angeles Metro.
Los
Ange
les
Rive
r
Los Angeles River
PACIFIC OCEAN
Wilshire
/La Brea
Wilshire
/Fairfax
Wilshire
/La Cienega
Wilshire
/Rodeo
Century City/C
onstellatio
n
Westwood/U
CLA
Westwood/U
CLA
Westwood/VA Hospita
l
Martin Luther King Jr
Leimert Park
Hyde Park
Fairview Heights
Downtown Inglewood
Westchester/Veterans
Aviation/Century
Little Tokyo/Arts Dist
PURPLE LINE EXTENSION
REGIONAL CONNECTOR
TRANSIT PROJECT
CRENSHAW/LAXTRANSIT PROJECT
LAX
GOLD LINE FOOTHILL EXTENSION
Little To
kyo/
Arts
District
Grand Av Arts/
Bunker H
ill
Little To
kyo/
Arts
District
HistoricBroadwayBroadway
Glendora
San Dimas
La Verne
Pomona
Claremont
Universal C
ity/Studio City
Hollywood/V
ine
Hollywood/H
ighland
Universal C
ity/Studio City
Civic Ctr/
Civic Ctr/
Civic Ctr/
Civic Ctr/
GrandGrandGrandGrand
ParkParkParkPark
Westlake/M
acArthur P
ark
Warner Ctr
Roscoe
Pico/Alis
o
Mariach
i Plaza
Long Beach Bl
Artesia
Del Amo
Civic Ctr/
GrandPark
Allen
LakeSierra
Madre Villa
Arcadia
Monrovia
Duarte/City
of Hope
Irwindale
Azusa Downtown
APU/Citrus Colle
ge
Lincoln/Cypress
Heritage Sq
Southwest Museum
Highland Park
Fillmore
Del Mar
Memorial Park
South Pasadena
Westlake/M
acArthur P
ark
Wilshire
/Vermont
Pershing
Chinatown
Union Station
Chinatown
Square
7th St/Metro CtrPico
LATTC/OrthoInstitute
Jefferson/U
SC
LAX FlyAwayAmtrak & MetrolinkLAX FlyAway
LAX FlyAwayLAX FlyAway
LAX FlyAway
LAX FlyAway
LAX FlyAway
LAX FlyAway
LAX Shuttle G
Amtrak & MetrolinkMetro
link
Sherman Way
Warner Ctr
Roscoe
Nordhoff
Chatsworth
Hollywood/W
estern
Vermont/S
anta MonicaHolly
wood/Western
Hollywood/V
ine
Hollywood/H
ighlandNorth
Hollywood
Balboa
Balboa
Woodley
Sepulveda
Sepulveda
Van Nuys
Van Nuys
Woodman
Valley Colle
ge
Laurel Canyo
n
Canoga
Canoga
De Soto
De Soto
Pierce Colle
ge
Pierce Colle
ge
Tampa
Tampa
Reseda
Reseda
Vermont/B
everly
Vermont/S
anta Monica
Vermont/S
unset
Vermont/S
unset
Amtrak & Metrolink
Soto
Indiana
Maravilla
East LA Civic C
tr
Atlantic
El Monte
Cal State LA
LAC+USC Medica
l Ctr
Pico/Alis
o
Mariach
i Plaza
Wilshire
/
Normandie
Wilshire
/Western
ExpoPark
/USC
Expo/Vermont
Expo/Western
Expo/Crenshaw
Farmdale
Expo/La Brea
La Cienega/Jefferson
Culver C
ity
Palms
Westwood/R
ancho Park
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
17th St/S
MC
Downtown Santa Monica
Mariposa
El Segundo
Douglas
Redondo Beach
37th St/USC
Rosecrans
Harbor
Carson
Pacific CoastHwy
GatewayTransit Ctr
Long Beach Bl
AvalonVerm
ont/
AthensCrenshaw
Hawthorne/Lennox
Aviation/L
AX
Lakewood Bl
Norwalk
Norwalk
Slauson
Manchester
Harbor F
wy
5th St
1st St
PacificAv
DowntownLong Beach
PacificAv
Washington
Vernon
Slauson
Florence
Firestone
Compton
Artesia
Del Amo
Wardlow
Willow St
Pacific Coast Hwy
Anaheim St
103rd St/
Willowbrook/Rosa Parks
Watts Towers 103rd St/
Willowbrook/Rosa Parks
DowntownLong Beach
Grand/LATTC
San Pedro St
Watts Towers
Union Station
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SOUTH LA
CENTRAL LA
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SANTAMONICA
SOUTH LA
CENTRAL LA
WESTSIDE
metro.netMetro Rail & Busway
North Hollywood to Union Station
Metro Rail
Wilshire/Western to Union StationPurple Line
Blue Line
Expo Line
Orange Line
Amtrak
LAX FlyAway
Metrolink
Metro Busway
Regional Rail
Green Line
Gold Line
Downtown LA to Long Beach
Downtown LA to Santa Monica
Redondo Beach to Norwalk
East Los Angeles to Azusa
Silver Line Chatsworth to North Hollywood
San Pedro to El Monte
amtrak.com
metrolinktrains.com
lawa.org/flyaway
LAX Shuttle (free)lawa.org
Street Service in Downtown LAand San Pedro
MAY 2016 Subject to Change
Airport Shuttle
Rail Station
StationTransfer
Busway
Station
UNDERCONSTRUCTION
Busway StreetService
Red Line
18-0
976M
M ©
2017
LAC
MTA
DEC 2017 Subject to Change
Warner Center
Canoga
De Soto
North H
ollyw
ood
2 1 1 6 1 V I C TO R Y B LV D.
Los
Ange
les
Rive
r
Los Angeles River
PACIFIC OCEAN
Wilshire
/La Brea
Wilshire
/Fairfax
Wilshire
/La Cienega
Wilshire
/Rodeo
Century City/C
onstellatio
n
Westwood/U
CLA
Westwood/U
CLA
Westwood/VA Hospita
l
Martin Luther King Jr
Leimert Park
Hyde Park
Fairview Heights
Downtown Inglewood
Westchester/Veterans
Aviation/Century
Little Tokyo/Arts Dist
PURPLE LINE EXTENSION
REGIONAL CONNECTOR
TRANSIT PROJECT
CRENSHAW/LAXTRANSIT PROJECT
LAX
GOLD LINE FOOTHILL EXTENSION
Little To
kyo/
Arts
District
Grand Av Arts/
Bunker H
ill
Little To
kyo/
Arts
District
HistoricBroadwayBroadway
Glendora
San Dimas
La Verne
Pomona
Claremont
Universal C
ity/Studio City
Hollywood/V
ine
Hollywood/H
ighland
Universal C
ity/Studio City
Civic Ctr/
Civic Ctr/
Civic Ctr/
Civic Ctr/
GrandGrandGrandGrand
ParkParkParkPark
Westlake/M
acArthur P
ark
Warner Ctr
Roscoe
Pico/Alis
o
Mariach
i Plaza
Long Beach Bl
Artesia
Del Amo
Civic Ctr/
GrandPark
Allen
LakeSierra
Madre Villa
Arcadia
Monrovia
Duarte/City
of Hope
Irwindale
Azusa Downtown
APU/Citrus Colle
ge
Lincoln/Cypress
Heritage Sq
Southwest Museum
Highland Park
Fillmore
Del Mar
Memorial Park
South Pasadena
Westlake/M
acArthur P
ark
Wilshire
/Vermont
Pershing
Chinatown
Union Station
Chinatown
Square
7th St/Metro CtrPico
LATTC/OrthoInstitute
Jefferson/U
SC
LAX FlyAwayAmtrak & MetrolinkLAX FlyAway
LAX FlyAwayLAX FlyAway
LAX FlyAway
LAX FlyAway
LAX FlyAway
LAX FlyAway
LAX Shuttle G
Amtrak & MetrolinkMetro
link
Sherman Way
Warner Ctr
Roscoe
Nordhoff
Chatsworth
Hollywood/W
estern
Vermont/S
anta MonicaHolly
wood/Western
Hollywood/V
ine
Hollywood/H
ighlandNorth
Hollywood
Balboa
Balboa
Woodley
Sepulveda
Sepulveda
Van Nuys
Van Nuys
Woodman
Valley Colle
ge
Laurel Canyo
n
Canoga
Canoga
De Soto
De Soto
Pierce Colle
ge
Pierce Colle
ge
Tampa
Tampa
Reseda
Reseda
Vermont/B
everly
Vermont/S
anta Monica
Vermont/S
unset
Vermont/S
unset
Amtrak & Metrolink
Soto
Indiana
Maravilla
East LA Civic C
tr
Atlantic
El Monte
Cal State LA
LAC+USC Medica
l Ctr
Pico/Alis
o
Mariach
i Plaza
Wilshire
/
Normandie
Wilshire
/Western
ExpoPark
/USC
Expo/Vermont
Expo/Western
Expo/Crenshaw
Farmdale
Expo/La Brea
La Cienega/Jefferson
Culver C
ity
Palms
Westwood/R
ancho Park
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
17th St/S
MC
Downtown Santa Monica
Mariposa
El Segundo
Douglas
Redondo Beach
37th St/USC
Rosecrans
Harbor
Carson
Pacific CoastHwy
GatewayTransit Ctr
Long Beach Bl
AvalonVerm
ont/
AthensCrenshaw
Hawthorne/Lennox
Aviation/L
AX
Lakewood Bl
Norwalk
Norwalk
Slauson
Manchester
Harbor F
wy
5th St
1st St
PacificAv
DowntownLong Beach
PacificAv
Washington
Vernon
Slauson
Florence
Firestone
Compton
Artesia
Del Amo
Wardlow
Willow St
Pacific Coast Hwy
Anaheim St
103rd St/
Willowbrook/Rosa Parks
Watts Towers 103rd St/
Willowbrook/Rosa Parks
DowntownLong Beach
Grand/LATTC
San Pedro St
Watts Towers
Union Station
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SOUTH LA
CENTRAL LA
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SANTAMONICA
SOUTH LA
CENTRAL LA
WESTSIDE
metro.netMetro Rail & Busway
North Hollywood to Union Station
Metro Rail
Wilshire/Western to Union StationPurple Line
Blue Line
Expo Line
Orange Line
Amtrak
LAX FlyAway
Metrolink
Metro Busway
Regional Rail
Green Line
Gold Line
Downtown LA to Long Beach
Downtown LA to Santa Monica
Redondo Beach to Norwalk
East Los Angeles to Azusa
Silver Line Chatsworth to North Hollywood
San Pedro to El Monte
amtrak.com
metrolinktrains.com
lawa.org/flyaway
LAX Shuttle (free)lawa.org
Street Service in Downtown LAand San Pedro
MAY 2016 Subject to Change
Airport Shuttle
Rail Station
StationTransfer
Busway
Station
UNDERCONSTRUCTION
Busway StreetService
Red Line
18-0
976M
M ©
2017
LAC
MTA
DEC 2017 Subject to Change
Los
Ange
les
Rive
r
Los Angeles River
PACIFIC OCEAN
Wilshire
/La Brea
Wilshire
/Fairfax
Wilshire
/La Cienega
Wilshire
/Rodeo
Century City/C
onstellatio
n
Westwood/U
CLA
Westwood/U
CLA
Westwood/VA Hospita
l
Martin Luther King Jr
Leimert Park
Hyde Park
Fairview Heights
Downtown Inglewood
Westchester/Veterans
Aviation/Century
Little Tokyo/Arts Dist
PURPLE LINE EXTENSION
REGIONAL CONNECTOR
TRANSIT PROJECT
CRENSHAW/LAXTRANSIT PROJECT
LAX
GOLD LINE FOOTHILL EXTENSION
Little To
kyo/
Arts
District
Grand Av Arts/
Bunker H
ill
Little To
kyo/
Arts
District
HistoricBroadwayBroadway
Glendora
San Dimas
La Verne
Pomona
Claremont
Universal C
ity/Studio City
Hollywood/V
ine
Hollywood/H
ighland
Universal C
ity/Studio City
Civic Ctr/
Civic Ctr/
Civic Ctr/
Civic Ctr/
GrandGrandGrandGrand
ParkParkParkPark
Westlake/M
acArthur P
ark
Warner Ctr
Roscoe
Pico/Alis
o
Mariach
i Plaza
Long Beach Bl
Artesia
Del Amo
Civic Ctr/
GrandPark
Allen
LakeSierra
Madre Villa
Arcadia
Monrovia
Duarte/City
of Hope
Irwindale
Azusa Downtown
APU/Citrus Colle
ge
Lincoln/Cypress
Heritage Sq
Southwest Museum
Highland Park
Fillmore
Del Mar
Memorial Park
South Pasadena
Westlake/M
acArthur P
ark
Wilshire
/Vermont
Pershing
Chinatown
Union Station
Chinatown
Square
7th St/Metro CtrPico
LATTC/OrthoInstitute
Jefferson/U
SC
LAX FlyAwayAmtrak & MetrolinkLAX FlyAway
LAX FlyAwayLAX FlyAway
LAX FlyAway
LAX FlyAway
LAX FlyAway
LAX FlyAway
LAX Shuttle G
Amtrak & MetrolinkMetro
link
Sherman Way
Warner Ctr
Roscoe
Nordhoff
Chatsworth
Hollywood/W
estern
Vermont/S
anta MonicaHolly
wood/Western
Hollywood/V
ine
Hollywood/H
ighlandNorth
Hollywood
Balboa
Balboa
Woodley
Sepulveda
Sepulveda
Van Nuys
Van Nuys
Woodman
Valley Colle
ge
Laurel Canyo
n
Canoga
Canoga
De Soto
De Soto
Pierce Colle
ge
Pierce Colle
ge
Tampa
Tampa
Reseda
Reseda
Vermont/B
everly
Vermont/S
anta Monica
Vermont/S
unset
Vermont/S
unset
Amtrak & Metrolink
Soto
Indiana
Maravilla
East LA Civic C
tr
Atlantic
El Monte
Cal State LA
LAC+USC Medica
l Ctr
Pico/Alis
o
Mariach
i Plaza
Wilshire
/
Normandie
Wilshire
/Western
ExpoPark
/USC
Expo/Vermont
Expo/Western
Expo/Crenshaw
Farmdale
Expo/La Brea
La Cienega/Jefferson
Culver C
ity
Palms
Westwood/R
ancho Park
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
17th St/S
MC
Downtown Santa Monica
Mariposa
El Segundo
Douglas
Redondo Beach
37th St/USC
Rosecrans
Harbor
Carson
Pacific CoastHwy
GatewayTransit Ctr
Long Beach Bl
AvalonVerm
ont/
AthensCrenshaw
Hawthorne/Lennox
Aviation/L
AX
Lakewood Bl
Norwalk
Norwalk
Slauson
Manchester
Harbor F
wy
5th St
1st St
PacificAv
DowntownLong Beach
PacificAv
Washington
Vernon
Slauson
Florence
Firestone
Compton
Artesia
Del Amo
Wardlow
Willow St
Pacific Coast Hwy
Anaheim St
103rd St/
Willowbrook/Rosa Parks
Watts Towers 103rd St/
Willowbrook/Rosa Parks
DowntownLong Beach
Grand/LATTC
San Pedro St
Watts Towers
Union Station
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SOUTH LA
CENTRAL LA
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SANTAMONICA
SOUTH LA
CENTRAL LA
WESTSIDE
metro.netMetro Rail & Busway
North Hollywood to Union Station
Metro Rail
Wilshire/Western to Union StationPurple Line
Blue Line
Expo Line
Orange Line
Amtrak
LAX FlyAway
Metrolink
Metro Busway
Regional Rail
Green Line
Gold Line
Downtown LA to Long Beach
Downtown LA to Santa Monica
Redondo Beach to Norwalk
East Los Angeles to Azusa
Silver Line Chatsworth to North Hollywood
San Pedro to El Monte
amtrak.com
metrolinktrains.com
lawa.org/flyaway
LAX Shuttle (free)lawa.org
Street Service in Downtown LAand San Pedro
MAY 2016 Subject to Change
Airport Shuttle
Rail Station
StationTransfer
Busway
Station
UNDERCONSTRUCTION
Busway StreetService
Red Line
18-0
976M
M ©
2017
LAC
MTA
DEC 2017 Subject to Change 31 | www.21161Victory.com
4.1% 4.1%
12.9%
1.4%
19.0%
7.8%
33.9%
16.8%
9.0% 7.30%
18.6%
2.2%
21.0%
7.8%
21.4%
12.8%
Less than9th Grade
9-12th Grade -No Diploma
High School Diploma GED or AlternativeCredential
Some College -No Degree
Associate'sDegree
Bachelor'sDegree
Graduate orProfessional Degree
Warner Center California
Demographics
Educational Attainment - Warner Center vs. California
Within 3 Mile of 21161 Victory Blvd.
2019 AVERAGE HOUSEHOLD INCOME:
$103,201
2024 PROJECTED AVERAGE HOUSEHOLD INCOME:
$121,483
PERCENT OF HOUSEHOLDS WITH INCOME $100,000+:
38%
1 mile 3 mile 5 mile 2019 Population 31,426 228,540 436,674
Estimated 2024 Population 34,403 235,146 449,373
Estimated 2019 Number of Employees 38,053 99,401 211,319
Estimated 2024 Average HH Income $106,976 $121,483 $128,575
Demographics - 1 Mile, 3 Mile, and 5 Mile Radius
DEMOGRAPHIC COMPREHENSIVE
21161 VICTORY BLVD
NAME LATITUDE LONGITUDE
21161 VICTORY BLVD 34.188831 -118.5936345
©2020 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 forexample 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 propertyfor your needs. Source: Esri ProjectID:548720
WARNER CENTER
POPULATION OVER AGE 25 WITH ASSOCIATE’S, BACHELOR’S, MASTER’S, PROFESSIONAL OR DOCTORAL DEGREES: 58.5%
32 | www.21161Victory.com
21161V I C TO R Y B LV D
CANOGA PARK, CA
VICTORY BLVDVICTORY BLVD
comparablescomparables
Rent Comparables Map
Subject Property21161 Victory Boulevard
1 AMLI Warner Center21200 Kittridge Street
2 Avalon Warner Place 21050 Vanowen Street
3 Bella Vista at Warner Ridge 6150 North De Soto Avenue
4 Carillon 6301 De Soto Avenue
5 The Enclave at Warner Center6710 Variel Avenue
6 Eton Warner Center6701 Eton Avenue
7 The Montecito6203 Variel Avenue
8 Motif 21021 West Erwin Street
9 Oceano at Warner Center 355 De Soto Avenue
10 Pointe at Warner Center6150 Canoga Avenue
11 Reveal 21201 Kittridge Street
12 Sofi Warner Center 6300 Variel Avenue
13 Triana 6200 Canoga Avenue
14 Vela on OX 21221 Oxnard Street
© 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified byeither CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take suchsteps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.
Rent Survey
Layout ID:L01 MapId:7039009
34 | www.21161Victory.com
Rent Comparables
AMLI Warner Center
Address
21200 Kittridge Street
Woodland Hills, CA 91303
Year Built
2006
Units
522
Occupancy
95.8%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse, Playground
Swimming Pool
Spa
Rental Office
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
1
522 Units
21200 Kittridge Street
Woodland Hills, CA 91303
(818) 615-0300
Completed Date
August, 2006
Improvements Rating A
Location Rating A-
Occupancy 95.8%
Prior Names
Archstone Warner Center
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Playground, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 918 Spaces, Covered Parking Available, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Construction Type - CombinationApartment Interior Amenities - Internet Access, Partial Fireplaces Available In Select Units, Above Standard Ceiling Height, Microwave Ovens
AMLI Warner Center
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 110 21.07% 695 76,450 $1,887 $2.72
One Bedroom 193 36.97% 729 140,697 $2,240 $3.07
One Bedroom/Loft 14 2.68% 877 12,278 $2,490 $2.84
Two Bedroom/Two Bath 158 30.27% 1,103 174,274 $2,862 $2.59
Two Bedroom/Two Bath 28 5.36% 1,115 31,220 $2,606 $2.34
Three Bedroom/Two Bath 19 3.64% 1,375 26,125 $3,454 $2.51
Total/Average 522 100% 883 461,044 $2,424 $2.74
Page 1 of 18
Source: Occupancy data derived from USPS records
Source: Yardi
35 | www.21161Victory.com
Avalon Warner Place
Address
21050 Vanowen Street Canoga Park, CA 91303
Year Built
2008
Units
210
Occupancy
90.0%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
2
Source: Yardi
210 Units
21050 Vanowen Street
Canoga Park, CA 91303
(818) 313-8901
Completed Date
October, 2008
Improvements Rating A
Location Rating A-
Occupancy 90.0%
Prior Names
Avalon Canoga Park
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 368 Spaces, Covered Parking Available, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Outside Storage, Construction Type - FrameOther Factor - Major Street Exposure - Vanowen StreetApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Avalon Warner Place
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 19 9.05% 651 12,369 $1,945 $2.99
One Bedroom 12 5.71% 670 8,040 $1,970 $2.94
One Bedroom 44 20.95% 724 31,856 $1,990 $2.75
One Bedroom 35 16.67% 732 25,620 $2,050 $2.80
One Bedroom/Loft 15 7.14% 871 13,065 $2,125 $2.44
Two Bedroom/Two Bath 15 7.14% 1,028 15,420 $2,393 $2.33
Two Bedroom/Two Bath 35 16.67% 1,066 37,310 $2,540 $2.38
Two Bedroom/Two Bath 15 7.14% 1,127 16,905 $2,590 $2.30
Two Bedroom/Loft/Two Bath 5 2.38% 1,174 5,870 $2,625 $2.24
Three Bedroom/Two Bath 15 7.14% 1,326 19,890 $3,200 $2.41
Total/Average 210 100% 887 186,345 $2,269 $2.56
Page 2 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
36 | www.21161Victory.com
Bella Vista at Warner Ridge
Address
6150 North De Soto Avenue
Woodland Hills, CA 91367
Year Built
2001
Units
579
Occupancy
94.0%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
3
Source: Yardi
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 21 3.63% 642 13,482
One Bedroom 36 6.22% 749 26,964 $1,981 $2.64
One Bedroom 3 0.52% 864 2,592 $2,405 $2.78
One Bedroom 5 0.86% 918 4,590 $2,341 $2.55
One Bedroom 4 0.69% 642 2,568 $2,060 $3.21
One Bedroom 66 11.40% 771 50,886 $2,223 $2.88
One Bedroom 37 6.39% 680 25,160 $1,991 $2.93
One Bedroom 112 19.34% 767 85,904 $2,011 $2.62
One Bedroom 8 1.38% 913 7,304 $2,431 $2.66
Two Bedroom/Two Bath 42 7.25% 1,218 51,156 $2,737 $2.25
Two Bedroom/Two Bath 6 1.04% 1,250 7,500 $2,868 $2.29
Two Bedroom/Two Bath 66 11.40% 1,197 79,002 $2,744 $2.29
Two Bedroom/Two Bath 4 0.69% 1,218 4,872
Two Bedroom/Two Bath 2 0.35% 1,250 2,500 $3,096 $2.48
Two Bedroom/Two Bath 4 0.69% 1,416 5,664 $3,007 $2.12
Two Bedroom/Two Bath 6 1.04% 1,139 6,834 $2,822 $2.48
Three Bedroom/Two Bath 12 2.07% 1,442 17,304 $3,230 $2.24
Three Bedroom/Two Bath 44 7.60% 1,411 62,084 $3,319 $2.35
Three Bedroom/Two Bath 38 6.56% 1,225 46,550 $3,699 $3.02
Three Bedroom/Two Bath 63 10.88% 1,245 78,435 $3,507 $2.82
Total/Average 579 100% 1,004 581,351 $2,632 $2.59
Page 4 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
37 | www.21161Victory.com
Carillon
Address
6301 De Soto Avenue Woodland Hills, CA 91367
Year Built
2009
Units
264
Occupancy
95.5%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
4
Source: Yardi
264 Units
6301 De Soto Avenue
Woodland Hills, CA 91367
(818) 888-0273
Completed Date
April, 2009
Improvements Rating B+
Location Rating A-
Occupancy 95.5%
Prior Names
Warner Center ApartmentsCarillon Apartments
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 351 Spaces, Covered Parking Available, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Outside Storage, Construction Type - CombinationOther Factor - Major Street Exposure - De Soto AvenueApartment Interior Amenities - Internet Access, Optional Monitored Security, Above Standard Ceiling Height, Microwave Ovens
Carillon
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
Efficiency 32 12.12% 603 19,296 $1,725 $2.86
One Bedroom 59 22.35% 732 43,188 $2,126 $2.90
One Bedroom 39 14.77% 780 30,420 $1,966 $2.52
One Bedroom 28 10.61% 878 24,584 $2,167 $2.47
One Bedroom/Den 22 8.33% 968 21,296 $2,418 $2.50
Two Bedroom/Two Bath 54 20.45% 1,094 59,076 $2,415 $2.21
Two Bedroom/Two Bath 20 7.58% 1,191 23,820 $2,510 $2.11
Two Bedroom/Two Bath 10 3.79% 1,326 13,260 $2,521 $1.90
Total/Average 264 100% 890 234,940 $2,186 $2.46
Page 5 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
38 | www.21161Victory.com
The Enclave at Warner Center
Address
6710 Variel Avenue
Canoga Park, CA 91303
Year Built
2010
Units
195
Occupancy
96.4%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
Tennis Court
Playground
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
5
Source: Yardi
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
195 Units
6710 Variel Avenue
Canoga Park, CA 91303
(818) 226-9006
Completed Date
January, 2010
Improvements Rating A-
Location Rating A-
Occupancy 96.4%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Tennis Court, Playground, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 387 Spaces, Covered Parking Available, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Outside Storage, Construction Type - FrameApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Enclave at Warner Center, The
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
Studio 8 4.10% 609 4,872 $1,894 $3.11
One Bedroom 24 12.31% 632 15,168 $2,036 $3.22
One Bedroom 28 14.36% 721 20,188 $2,081 $2.89
One Bedroom 3 1.54% 724 2,172 $2,125 $2.94
One Bedroom 55 28.21% 739 40,645 $2,077 $2.81
Two Bedroom/Two Bath 29 14.87% 1,026 29,754 $2,375 $2.31
Two Bedroom/Two Bath 8 4.10% 1,084 8,672 $2,421 $2.23
Two Bedroom/Two Bath 19 9.74% 1,123 21,337 $2,445 $2.18
Two Bedroom/Two Bath 21 10.77% 1,150 24,150 $2,420 $2.10
Total/Average 195 100% 856 166,958 $2,197 $2.57
Page 6 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
39 | www.21161Victory.com
Eton Warner Center
Address
6701 Eton Avenue
Woodland Hills, CA 91303
Year Built
2013
Units
298
Occupancy
90.9%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELI-ANCE ON IT IS SOLELY AT YOUR OWN RISK.
6
Source: Yardi
298 Units
6701 Eton Avenue
Woodland Hills, CA 91303
(818) 471-4060
Completed Date
September, 2013
Improvements Rating A
Location Rating A-
Occupancy 90.9%
Prior Names
Alta Warner
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 538 Spaces, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Outside Storage, Construction Type - Steel FrameApartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Eton Warner Center
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 55 18.46% 651 35,805 $1,930 $2.96
One Bedroom 52 17.45% 720 37,440 $2,130 $2.96
One Bedroom 5 1.68% 727 3,635 $2,065 $2.84
One Bedroom 24 8.05% 772 18,528 $2,195 $2.84
One Bedroom/Loft 8 2.68% 850 6,800 $2,470 $2.91
One Bedroom/Loft 6 2.01% 918 5,508 $2,545 $2.77
Two Bedroom/Two Bath 30 10.07% 1,022 30,660 $2,415 $2.36
Two Bedroom/Two Bath 13 4.36% 1,034 13,442 $2,465 $2.38
Two Bedroom/Two Bath 27 9.06% 1,045 28,215 $2,460 $2.35
Two Bedroom/Two Bath 30 10.07% 1,058 31,740 $2,450 $2.32
Two Bedroom/Two Bath 19 6.38% 1,176 22,344 $2,625 $2.23
Two Bedroom/Two Bath 5 1.68% 1,227 6,135 $3,005 $2.45
Two Bedroom/Two Bath 19 6.38% 1,238 23,522 $2,800 $2.26
Two Bedroom/Loft/Two Bath 2 0.67% 1,199 2,398 $3,220 $2.69
Two Bedroom/Loft/Two Bath 3 1.01% 1,363 4,089 $3,530 $2.59
Total/Average 298 100% 907 270,261 $2,331 $2.57
Page 7 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
40 | www.21161Victory.com
The Montecito
Address
6203 Variel Avenue
Woodland Hills, CA 91367
Year Built
2007
Units
85
Occupancy
80.0%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
7
Source: Yardi
85 Units
6203 Variel Avenue
Woodland Hills, CA 91367
(818) 316-1300
Completed Date
January, 2007
Improvements Rating A-
Location Rating A-
Occupancy 80.0%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 180 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Outside Storage, Construction Type - FrameApartment Interior Amenities - Internet Access, Included Monitored Security, Partial Fireplaces Available In Select Units , Above Standard Ceiling Height, Microwave Ovens
Montecito, The
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
Two Bedroom/Two and One Half Bath 10 11.76% 1,562 15,620 $3,411 $2.18
Two Bedroom/Two and One Half Bath 10 11.76% 1,579 15,790 $3,506 $2.22
Two Bedroom/Two and One Half Bath 3 3.53% 1,864 5,592 $3,859 $2.07
Two Bedroom/Two and One Half Bath 4 4.71% 1,875 7,500 $3,865 $2.06
Two Bedroom/Two and One Half Bath 6 7.06% 2,273 13,638 $4,465 $1.96
Two Bedroom/Den/Two Bath 10 11.76% 1,567 15,670 $3,506 $2.24
Two Bedroom/Den/Two and One Half Bath 8 9.41% 1,602 12,816 $3,300 $2.06
Two Bedroom/Den/Two and One Half Bath 2 2.35% 1,664 3,328 $4,098 $2.46
Two Bedroom/Den/Two and One Half Bath 10 11.76% 1,707 17,070 $3,962 $2.32
Two Bedroom/Den/Two and One Half Bath 10 11.76% 1,876 18,760 $4,135 $2.20
Three Bedroom/Townhouse/Two and One Half Bath 6 7.06% 1,884 11,304 $4,132 $2.19
Three Bedroom/Townhouse/Loft/Two and One Half Bath 6 7.06% 2,256 13,536 $4,455 $1.97
Total/Average 85 100% 1,772 150,624 $3,825 $2.16
Page 9 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
41 | www.21161Victory.com
Motif
Address
21021 West Erwin Street
Woodland Hills, CA 91367
Year Built
2015
Units
395
Occupancy
93.7%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
Playground
2 Swimming Pools
2 Spas
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
8
Source: Yardi
395 Units
21021 West Erwin Street
Woodland Hills, CA 91367
(818) 452-4017
Completed Date
July, 2015
Improvements Rating A-
Location Rating A-
Occupancy 93.7%
Prior Names
Millennium Woodland Hills, The
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, Playground, 2 Swimming Pools, 2 Spas, Rental Office - Stand AloneParking - Total Parking - 593 Spaces, Covered Parking Is Available ForAn Additional $0 Per Month, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Outside StorageYes, Construction Type - FrameOther Factor - Major Street Exposure - De Soto AvenueApartment Interior Amenities - Internet Access, Above Standard CeilingHeight, Microwave Ovens
Motif
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 8 2.03% 812 6,496 $2,110 $2.60
One Bedroom 115 29.11% 823 94,645 $2,130 $2.59
One Bedroom 45 11.39% 874 39,330 $2,200 $2.52
One Bedroom/Den 24 6.08% 958 22,992 $2,310 $2.41
Two Bedroom/Two Bath 107 27.09% 1,168 124,976 $2,645 $2.26
Two Bedroom/Two Bath 7 1.77% 1,202 8,414 $2,700 $2.25
Two Bedroom/Two Bath 26 6.58% 1,204 31,304 $2,725 $2.26
Two Bedroom/Two Bath 4 1.01% 1,303 5,212 $2,750 $2.11
Two Bedroom/Two Bath 13 3.29% 1,351 17,563 $2,800 $2.07
Three Bedroom/Two Bath 37 9.37% 1,484 54,908 $3,140 $2.12
Three Bedroom/Two Bath 9 2.28% 1,531 13,779 $4,150 $2.71
Total/Average 395 100% 1,062 419,619 $2,506 $2.36
Page 10 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
42 | www.21161Victory.com
Oceano at Warner Center
Address
6355 De Soto Avenue
Woodland Hills, CA 91367
Year Built
2013
Units
244
Occupancy
91.8%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
9
Source: Yardi
244 Units
6355 De Soto Avenue
Woodland Hills, CA 91367
(818) 887-6808
Completed Date
January, 2013
Improvements Rating A
Location Rating A-
Occupancy 91.8%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 449 Spaces, Covered Parking Available, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Outside Storage, Construction Type - FrameOther Factor - Major Street Exposure - De Soto AvenueApartment Interior Amenities - Internet Access, Optional Monitored Security, Partial Fireplaces Available In Select 696, 705, 882 and 1250 Square Foot Units, Above Standard Ceiling Height, Microwave Ovens
Oceano at Warner Center
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 8 3.28% 696 5,568 $1,980 $2.84
One Bedroom 16 6.56% 705 11,280 $2,036 $2.89
One Bedroom 2 0.82% 743 1,486 $2,100 $2.83
One Bedroom 68 27.87% 783 53,244 $2,175 $2.78
One Bedroom 2 0.82% 803 1,606 $2,200 $2.74
One Bedroom 8 3.28% 937 7,496 $2,345 $2.50
One Bedroom/Den/One Bath 16 6.56% 882 14,112 $2,183 $2.48
Two Bedroom/Two Bath 20 8.20% 1,027 20,540 $2,424 $2.36
Two Bedroom/Two Bath 14 5.74% 1,073 15,022 $2,323 $2.16
Two Bedroom/Two Bath 64 26.23% 1,075 68,800 $2,423 $2.25
Two Bedroom/Two Bath 22 9.02% 1,101 24,222 $2,406 $2.19
Two Bedroom/Two and One Half Bath 4 1.64% 1,250 5,000 $2,933 $2.35
Total/Average 244 100% 936 228,376 $2,292 $2.45
Page 11 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
43 | www.21161Victory.com
The Pointe at Warner Center
Address
6150 Canoga Avenue
Woodland Hills, CA 91367
Year Built
2004
Units
136
Occupancy
96.3%
Amenities
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
10
Source: Yardi
136 Units
6150 Canoga Avenue
Woodland Hills, CA 91367
(818) 610-1117
Completed Date
October, 2004
Improvements Rating A
Location Rating A-
Occupancy 96.3%
Common Area Amenities - Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 160 Spaces, Covered Parking Available, Parking Type - SubterraneanFunctional Characteristics - Private Balcony/Patio, Outside StorageApartment Interior Amenities - Internet Access, Included Monitored Security, Above Standard Ceiling Height, Microwave Ovens
Pointe at Warner Center, The
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 75 55.15% 755 56,625 $2,356 $3.12
Two Bedroom/Two Bath 15 11.03% 1,104 16,560 $2,447 $2.22
Two Bedroom/Two Bath 46 33.82% 1,129 51,934 $2,657 $2.35
Total/Average 136 100% 920 125,119 $2,468 $2.68
Page 12 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
44 | www.21161Victory.com
Reveal
Address
21201 Kittridge Street
Canoga Park, CA 91303
Year Built
2011
Units
438
Occupancy
95.7%
Amenities
Controlled Access
Fitness Center
Business Center,
Clubhouse
2 Swimming Pools
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
11
Source: Yardi
438 Units
21201 Kittridge Street
Canoga Park, CA 91303
(818) 888-3927
Completed Date
February, 2011
Improvements Rating A
Location Rating A-
Occupancy 95.7%
Prior Names
Millennium Warner Center, The
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 2 Swimming Pools, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 770 Spaces, Covered Parking Available, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/Patio, Construction Type - FrameOther Factor - Major Street Exposure - Kittridge StreetApartment Interior Amenities - Internet Access, Optional Monitored Security, Above Standard Ceiling Height, Microwave Ovens
Reveal
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 32 7.31% 680 21,760 $1,950 $2.87
One Bedroom 100 22.83% 690 69,000 $1,975 $2.86
One Bedroom/Den 88 20.09% 866 76,208 $2,265 $2.62
Two Bedroom/Two Bath 72 16.44% 997 71,784 $2,387 $2.39
Two Bedroom/Two Bath 28 6.39% 1,076 30,128 $2,600 $2.42
Two Bedroom/Two Bath 20 4.57% 1,118 22,360 $2,474 $2.21
Two Bedroom/Two Bath 24 5.48% 1,126 27,024 $2,466 $2.19
Two Bedroom/Two Bath 34 7.76% 1,144 38,896 $2,590 $2.26
Three Bedroom/Two Bath 40 9.13% 1,447 57,880 $3,126 $2.16
Total/Average 438 100% 948 415,040 $2,342 $2.47
Page 13 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
45 | www.21161Victory.com
Sofi Warner Center
Address
6300 Variel Avenue
Woodland Hills, CA 91367
Year Built
2009
Units
224
Occupancy
95.1%
Amenities
Controlled Access
Fitness Center
Business
Center, Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand AloneYou are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
12
Source: Yardi
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 4 1.79% 719 2,876 $2,113 $2.94
One Bedroom 16 7.14% 743 11,888 $2,203 $2.97
One Bedroom 12 5.36% 749 8,988 $2,300 $3.07
One Bedroom 4 1.79% 756 3,024 $1,976 $2.61
One Bedroom 12 5.36% 810 9,720 $1,984 $2.45
One Bedroom 15 6.70% 826 12,390 $2,092 $2.53
One Bedroom 4 1.79% 842 3,368 $2,317 $2.75
One Bedroom/One and One Half Bath 1 0.45% 806 806 $2,145 $2.66
One Bedroom/One and One Half Bath 16 7.14% 818 13,088 $2,372 $2.90
One Bedroom/One and One Half Bath 3 1.34% 830 2,490 $2,290 $2.76
One Bedroom/One and One Half Bath 4 1.79% 857 3,428 $2,300 $2.68
One Bedroom/One and One Half Bath 6 2.68% 872 5,232 $2,089 $2.40
One Bedroom/One and One Half Bath 4 1.79% 881 3,524 $2,260 $2.57
One Bedroom/One and One Half Bath 16 7.14% 890 14,240 $1,955 $2.20
One Bedroom/One and One Half Bath 4 1.79% 896 3,584 $2,100 $2.34
One Bedroom/One and One Half Bath 4 1.79% 916 3,664 $2,355 $2.57
One Bedroom/One and One Half Bath 8 3.57% 994 7,952 $2,267 $2.28
One Bedroom/One and One Half Bath 14 6.25% 1,205 16,870 $2,732 $2.27
Two Bedroom/Two Bath 8 3.57% 1,077 8,616 $2,593 $2.41
Two Bedroom/Two Bath 1 0.45% 1,087 1,087 $2,538 $2.33
Two Bedroom/Two Bath 6 2.68% 1,100 6,600 $2,676 $2.43
Two Bedroom/Two Bath 11 4.91% 1,125 12,375 $2,515 $2.24
Two Bedroom/Two Bath 4 1.79% 1,135 4,540 $2,513 $2.21
Two Bedroom/Two Bath 7 3.13% 1,144 8,008 $2,746 $2.40
Two Bedroom/Two Bath 4 1.79% 1,150 4,600 $2,528 $2.20
Two Bedroom/Two Bath 8 3.57% 1,167 9,336 $2,559 $2.19
Two Bedroom/Two Bath 20 8.93% 1,207 24,140 $2,650 $2.20
Two Bedroom/Two Bath 8 3.57% 1,522 12,176 $3,073 $2.02
Total/Average 224 100% 976 218,610 $2,372 $2.43
Page 15 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
46 | www.21161Victory.com
Triana
Address
6200 Canoga Avenue
Woodland Hills, CA 91367
Year Built
2008
Units
362
Occupancy
96.4%
Amenities
Controlled Access
Fitness Center
Business
Center, Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
13
Source: Yardi
362 Units
6200 Canoga Avenue
Woodland Hills, CA 91367
(818) 704-7600
Completed Date
May, 2008
Improvements Rating A
Location Rating A-
Occupancy 96.4%
Prior Names
Plaza at Warner Center Site I
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 669 Spaces, Covered Parking Available, Parking Type - Above Ground and SubterraneanFunctional Characteristics - Private Balcony/Patio, Outside Storage, Construction Type - CombinationOther Factor - Major Street Exposure - Canoga AvenueApartment Interior Amenities - Internet Access, Optional Monitored Security, Above Standard Ceiling Height, Microwave Ovens
Triana
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
One Bedroom 36 9.94% 653 23,508 $2,080 $3.19
One Bedroom 56 15.47% 697 39,032 $2,120 $3.04
One Bedroom 4 1.10% 711 2,844 $2,315 $3.26
One Bedroom 41 11.33% 763 31,283 $2,285 $2.99
One Bedroom 4 1.10% 810 3,240 $2,220 $2.74
One Bedroom 4 1.10% 883 3,532 $2,388 $2.70
One Bedroom/Den 16 4.42% 1,025 16,400 $2,437 $2.38
One Bedroom/Townhouse/Two Bath 10 2.76% 1,090 10,900 $2,290 $2.10
Two Bedroom/Two Bath 57 15.75% 1,072 61,104 $3,070 $2.86
Two Bedroom/Two Bath 106 29.28% 1,135 120,310 $3,090 $2.72
Two Bedroom/Den/Two Bath 8 2.21% 1,590 12,720 $3,321 $2.09
Three Bedroom/Two Bath 20 5.52% 1,423 28,460 $3,570 $2.51
Total/Average 362 100% 976 353,333 $2,700 $2.77
Page 16 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
47 | www.21161Victory.com
Vela on OX
Address
21221 Oxnard Street
Woodland Hills, CA 91367
Year Built
2019
Units
379
Occupancy
49.9%
Amenities
Controlled Access
Fitness Center
Business Center
Clubhouse
1 Swimming Pool
1 Spa
Rental Office - Stand Alone
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
14
Source: Yardi
379 Units
21221 Oxnard Street
Woodland Hills, CA 91367
(818) 740-4654
Completed Date
July, 2019
Improvements Rating A-
Location Rating A-
Occupancy 49.9%
Common Area Amenities - Controlled Access, Fitness Center, Business Center, Clubhouse, 1 Swimming Pool, 1 Spa, Rental Office - Stand AloneParking - Total Parking - 680 Spaces, Covered Parking Is Available For An Additional $0 Per Month, Parking Type - Multi-Level StructureFunctional Characteristics - Private Balcony/PatioOther Factor - Major Street Exposure - Oxnard Street Apartment Interior Amenities - Internet Access, Above Standard Ceiling Height, Microwave Ovens
Vela on OX
Unit Type Unit Size (SqFt) Actual RentUnit Description Count % of Total Unit Total Total SqFt
Studio 23 6.07% 627 14,421 $2,379 $3.79
Live-Work 5 1.32% 1,479 7,395 $3,799 $2.57
Live-Work 21 5.54% 1,630 34,230 $4,012 $2.46
Live-Work 1 0.26% 2,356 2,356 $6,132 $2.60
One Bedroom 73 19.26% 702 51,246 $2,360 $3.36
One Bedroom 134 35.36% 746 99,964 $2,250 $3.02
One Bedroom 20 5.28% 825 16,500 $2,523 $3.06
Two Bedroom/Two Bath 39 10.29% 985 38,415 $3,107 $3.15
Two Bedroom/Two Bath 52 13.72% 1,038 53,976 $3,233 $3.11
Two Bedroom/Two Bath 7 1.85% 1,239 8,673 $3,458 $2.79
Two Bedroom/Two Bath 4 1.06% 1,254 5,016 $3,585 $2.86
Total/Average 379 100% 876 332,192 $2,681 $3.06
Page 17 of 18
Source: Occupancy data derived from USPS records
Rent Comparables
48 | www.21161Victory.com
Land Sales ComparablesCriteria: Sites located within two miles from Subject Property, Mixed-Use or Multifamily Intended Use, $150 PSF+, sold between Nov 2017 - Feb 2020Source: CoStar, sorted by price per square foot
2211116611 VVIICCTTOORRYY BBLLVVDDLLAANNDD SSAALLEESS
CCrriitteerriiaa:: SSiitteess llooccaatteedd wwiitthhiinn ttwwoo mmiilleess ffrroomm SSuubbjjeecctt PPrrooppeerrttyy,, MMiixxeedd--UUssee oorr MMuullttiiffaammiillyy IInntteennddeedd UUssee,, $$115500 PPSSFF++,, ssoolldd bbeettwweeeenn NNoovv 22001177 -- FFeebb 22002200SSoouurrccee:: CCooSSttaarr,, SSoorrtteedd bbyy PPrriiccee PPeerr SSqquuaarree FFoooott
AAddddrreessss CCiittyy ZZiipp PPrriiccee SSFF PPrriiccee//SSFF ZZoonniinngg SSaallee DDaattee*6636 Variel Ave Canoga Park 91303 $31,000,000 108,900 $285 LAWC 3/8/19*6801-6819 Canoga Ave Canoga Park 91303 $10,000,000 48,221 $207 RV(WC)-SN-RIO 11/22/1720116 Sherman Way Winnetka 91306-3207 $6,890,000 44,431 $155 C2-1VL-RIO -6904 Eton Ave Canoga Park 91303-2109 $1,700,000 11,326 $150 (T)(Q) R3-1-RIO, R2-1-RIO 12/3/19
AAvveerraaggee:: $$223333
* Sites are located in Warner Center districts that do not have a non-residential requirement for new developments.
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
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.
© 2020 CBRE, Inc. All Rights Reserved.
CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.
50 | www.21161Victory.com
Laurie Lustig-BowerExecutive Vice President+1 310 550 [email protected]. 00979360
Kamran PaydarVice President+1 310 550 2529 [email protected]. 01242590
VICTORY BLVD
VICTORY BLVD
VARIEL AVE
VARIEL AVE
CANOGA AVECANOGA AVE
KITTRID
GE ST
KITTRID
GE ST
±1.51 ACRE MULTIFAMILY MIXED-USE DEVELOPMENT SITEUP TO 4.5:1 FAR
LOCATED IN WARNER CENTER SPECIFIC PLANEXISTING IN-PLACE INCOME21161
V I C TO R Y B LV DCANOGA PARK, CA
21161VICTORY BLVD
Zoo CultureRoyal OrchidFlooky’sThe Pampered Pet Hotel & SpaU-HaulFerguson Bath, Kitchen & Lighting Gallery
www.21161Victory.comOffers Due: Thursday, April 16, 2020 by 5:00 PM
Friday, May 15, 2020 by 5:00 PM(Extended due to COVID-19)