offering memorandum 265 s. western...

265 S. WESTERN AVENUE

OFFERING MEMORANDUM

LOS ANGELES, CA 90004

INVESTMENT HIGHLIGHTS

PROPERTY FEATURES

265 S. WESTERN AVENUE, LOS ANGELES

• Real Estate Developments/Redevelopment in Recent Years

• Desired Location for Local and Foreign Investors

• New Retailers Rapidly Establishing – Markets, Restaurants, Cafes, Bakeries, etc.

• Emergence of Financial Institutions

• Popular Area for Young Professionals, Families and Empty Nesters

• Abundant Choices of Various Retail Amenities

• Vibrant Nightlife

• Access to Public Transit – Metro, Buses, etc.

• Convenient Access to Major Freeways – FWYS 10, 110, 101, 5, 60

KOREATOWN HIGHLIGHTS

EXECUTIVE SUMMARY MAP OF KOREATOWN

The USPS Nat King Cole Station located at 265 S. Western Avenue is a rare large parcel of land for sale in the center of Koreatown, the most densely populated square mile in all of Los Angeles. The facility consists of a ±16,164 square foot building and a 2-story parking structure with 90 striped spaces in addition to a surface parking lot with 30 striped spaces. The layout allows a variety of different redevelopment options. Located between Downtown and the Miracle Mile district, Koreatown has established itself as a trendy destination in Los Angeles. Over the past two decades, Koreatown has flourished with an expansion of its territory, increase in number of residents, and a broader base of commerce and recreation. In recent years, it has been gaining popularity not only from the Korean community, but also from non-Korean professionals, families and “empty nesters” that are drawn to the convenient lifestyle and significant new development projects. The size and scope of investment in the area combined with the high quality of employment and additional amenities will continue to transform the area and drive real estate values over the coming years. 265 S. Western Avenue represents a truly unique opportunity to capitalize on the future transformation of a burgeoning neighborhood.

BUILDING HIGHLIGHTS

• Prime Koreatown Location – 3rd Street & Western Avenue

• Rare Large Parcel for Sale

• Abundant Parking - 120 Striped Spaces and Potential for More

• Ideal Location for Various Uses

• Approximately 230 Feet of Western Avenue Frontage

• Redevelopments in Vicinity

Building SF: 16,145

Lot Size: 64,907 (1.49 AC)

Year Built: 1987

Loading: Dock High

APN: 5517-001-900

Parking: Approx. 120

PROPERTY FEATURES



PROPERTY FEATURES

AERIAL PARCEL MAP

N



SITE PLAN

PROPERTY FEATURES

NOT A PART

2-STORY PARKING LOT

SURFACE PARKING LOT

LOADING

Galleria Market Retail Redevelopment

COMPLETED

Summit on 6th 82 Unit Mixed-Use

COMPLETED

Wilshire Vermont Station * 449 Unit Mixed-Use

COMPLETED

The Vermont 464 Unit Mixed-Use 2014 PROJECTION

K2LA 303 Unit Apartment 2014 PROJECTION

Olympic & Normandie Mixed-Use Development

COMPLETED

Mercury 238 Unit Mixed-Use

COMPLETED

Solair * 186 Unit Mixed-Use

COMPLETED

Madang, The Courtyard Retail Redevelopment

COMPLETED

California Market Retail Redevelopment

TBD

City Center on 6th Retail Development

COMPLETED

RELEVANT KOREATOWN PROJECTS

* TOD (Transit Oriented Development)


PROPERTY FEATURES

POPULATION DESITY MAP

INTERSECTION NORTH / SOUTH EAST / WEST

Western & 3rd 26,500 34,000

TRAFFIC COUNTS (APPROXIMATE)

1 MILE RADIUS 2 MILE RADIUS 3 MILE RADIUS

2012 Est. Population 98,977 313,004 619,993

2012 Est. Households 39,672 117,862 243,216

2012 Est. Median Household Income $30,542 $29,818 $31,179

2012 Est. Average Household Income $44,975 $45,392 $48,445

AREA DEMOGRAPHICS



PROPERTY FEATURES

MAJOR RETAILERS & BANKS


EXCLUSIVE MARKETING ADVISORS

CBRE, Inc. | 355 S. Grand Ave. | Suite 1200 Los Angeles, CA 90071 | www.cbre.com

©2012 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.

Brandon Gill First Vice President Lic. 01262330 213.613.3754 [email protected]

Brandon Burns First Vice President Lic. 01194796 213.613.3753 [email protected]

Jae Yoo The Korea Desk Lic. 01503567 213.613.3760 [email protected]

offering memorandum 265 s. western...

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