SILICON BEACH CREATIVE OFFICE FOR SALE · 2019. 2. 11. · The Strand Offices at Playa del Rey is a...
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THE STRAND O FF ICES AT PLA YA DEL REY THE STRAND OFFICES | 311 – 315 Culver Blvd., Playa del Rey, CA 90293, United States SILICON BEACH CREATIVE OFFICE FOR SALE OFFERING MEMORANDUM
Transcript of SILICON BEACH CREATIVE OFFICE FOR SALE · 2019. 2. 11. · The Strand Offices at Playa del Rey is a...
THE STRANDOFFICES
AT PLAYA DEL REY
AT PLA YA DEL REY
THE STRANDOFFICES
AT PLAYA DEL REY
Orange: Warm Red UGrey: 425 U
THE STRAND OFFICES | 311 – 315 Culver Blvd., Playa del Rey, CA 90293, United States
SILICON BEACH CREATIVE OFFICE
FOR SALEOFFERING MEMORANDUM
The Strand Offices at Playa del Rey is a newly constructed, boutique office compound, extremely well located in Silicon Beach, and mere minutes from LAX, Playa Vista, Culver City, Santa Monica, the Westside, and the South Bay. This gated development offers a rare opportunity for modern design and construction, sustainability, access and a coastal business lifestyle.
The walkable community of Playa del Rey offers an array of restaurants, gastropubs, bars, grocery, fitness and service retail, in addition to easy access to the bike path along the beach.
This creative office compound presents an exceptional investment or owner-user opportunity. The property features ample on-site parking behind mahogany remote-controlled gates, high ceilings, operable windows, Fleetwood-style sliding glass walls to decks on each floor, and sustainable features throughout. You will not find a finer office investment of smilar size, anywhere.
Asking price: $12,950,000
OFFERING SUMMARYNewly Constructed, Class A Creative Office Compound 3 Blocks from the Ocean in Silicon Beach
PHOTO GALLERY
CREATIVE OFFICE INVESTMENT HIGHLIGHTS$12,950,000 – 4.17% Cap Rate – New Construction – Class A
• 10,000 Square Feet on .23 acres
• Exceptional location close to freeways, beach, Playa Vista, Culver City, Santa Monica and Manhattan Beach.
• Expansive Views of Ballona Wetlands and Marina del Rey, waterway
• Private, secured building access and on-site parking (30 tandem spaces) accessed through responsibly-forested Mahogany remote-controlled gates
• 4 EV Charging Stations + Lockable Bike Parking
• Dual Glazed Operable Windows with Solar Glazing Throughout
• 10’8” and 11’6” Ceiling Heights on Second and Third Floors, respectively
• Outdoor Decks Accessed via Fleetwood-style Glass Walls
• 2 Elevators (1 per building)
• Energy Efficient LED Lighting Installed Throughout, Including Parking Area
• Formaldehyde-Free and Dye-Free Insulation Used Throughout; LEED-Certified Steel Foundation PIles
• Fiber-Optics and COAX Installed to Property
• Buildings Pre-Wired with Cat6 Cabling and Associated Network Parts
• 600 AMP, 3 Phase Electrical System
• Infrastructure in Place for 50-Panel Solar System on Each Building
• 2 ADA-Compliant Restrooms on Each Floor (both buildings) + Kitchenettes with Fisher-Paykel SS Drawer Dishwashers and SS Refrigerators (311)
• 9-Camera Security System in place with DVR; pre-wired for 16 camera security system for each building.
Venice
Downtown Los Angeles
Playa Vista
Culver CityVenice Blvd.
Jefferson Blvd.
Culver
Blvd
.
405
90
1
1
Santa MonicaSanta Monica
Marina del ReyMarina del Rey
Los AngelesInternational
Airport
405
1010 10
110
105 105
101
Vista Del Mar To M
anhattan Beach
405
Nearby Tenants
AREA OVERVIEW
PROPERTY DATA
Product Type: Office
Construction: Steel/Wood/Concrete
Building Area: 10,000 SF*
Price: $12,950,000
Stories: 3
Price PSF: $1,295
Zoning: C4
Leased: 100% Currently
Lease Type: NNN
Lease Term: Call for Info / Rent Roll
Current Annual Net Income: $540,000
APN: 4116-009-055 / 4116-009-056
Ownership: Fee Simple
Parking: 30 Surface
Land Area: Approx. 100’x100’; 10,000 SF; .23 AC
*Buyer to verify
THE STRANDOFFICES
AT PLAYA DEL REY
AT PLA YA DEL REY
THE STRANDOFFICES
AT PLAYA DEL REY
Orange: Warm Red UGrey: 425 U
Drone photo by Masek Imaging
Property Address: 1729 Abbot Kinney
Submarket: Venice
Sale Price: $3,485,034
$/SF: $1,350
SF: 2,580
Built: 1949
Sale Date: 7/16/18
MARKET COMPARABLESSold Commercial Properties
Property Address: 900 Pacific Avenue
Submarket: Venice
Sale Price: $6,450,064
$/SF: $1,872
SF: 3,445
Built: 1922
Sale Date: 6/13/18
Property Address: 12901 W. Jefferson Blvd.
Submarket: Playa Vista
Sale Price: $45,000,450
$/SF: $1,378
SF: 32,638
Built: 1969
Sale Date: 1/19/2017
MARKET COMPARABLESSold Commercial Properties
Property Address: 910 Abbot Kinney Blvd.
Submarket: Venice
Sale Price: $25,000,000
$/SF: $2,647
SF: 9,442
Built: 1948/Renovated 2010, 2015
Sale Date: August, 2018
Property Address: 123 Washington Blvd.
Submarket: Marina del Rey
Sale Price: $8,400,084
$/SF: $2,189
SF: 3,836
Built: 1928
Sale Date: 8/5/2016
Property Address: 535 Victoria Ave.
Submarket: Venice
Sale Price: $8,600,000
$/SF: $2,559
SF: 3,360
Built: 1954
Sale Date: 1/4/17
MARKET COMPARABLESSold Commercial Properties
Property Address: 901 Abbot Kinney Blvd.
Submarket: Venice
Sale Price: $23,000,000
$/SF: $1,611
SF: 14,275
Built: 1912
Sale Date: 1/1/15
Property Address: 2124 Zeno Place
Submarket: Venice
Sale Price: $8,600,000
$/SF: $2,243
SF: 3,835
Built: 1954
Sale Date: 1/4/17
MARKET COMPARABLESSold Commercial Properties
MARKET COMPARABLESSold Commercial Properties
Property Address: 4363 Lincoln Blvd.
Submarket: Marina Del Rey
Sale Price: $8,318,344
$/SF: $1,664
SF: 5,000
Built: 1951
Sale Date: 11/7/17
CONTACT
THE STRANDOFFICES
AT PLAYA DEL REY
AT PLA YA DEL REY
THE STRANDOFFICES
AT PLAYA DEL REY
Orange: Warm Red UGrey: 425 U
311-315 Culver Blvd., Playa del Rey, CA 90293 www.TheStrandOffices.com
CONTACT INFO:Kim Macy / Cove Spring Partners LP Phone: Phone: 310-577-5871 x 222Email: [email protected]
Interior and exterior photos by Hunter Kerhart
Disclaimer: This document has been prepared by Cove Spring Partners LP for marketing and general information purposes only. Any interested party must undertake their own due diligence as to the accuracy and completeness of all information. Cove Spring Partners LP disclaims any liability arising from or relating to inaccurate or incomplete information.
