prime hard signalized corner retail minutes from lax

LOS ANGELES, CA 900456200 W. MANCHESTER AVENUE

FOR SALE | PRIME HARD SIGNALIZED CORNER RETAIL MINUTES FROM LAX

LOS ANGELES, CA 90045

6200 W. MANCHESTER AVENUE

26200 W MANCHESTER AVE | OFFERING MEMORANDUM

T.C. MACKER, [email protected] # 01232033

WESTMAC COMMERCIAL BROKERAGE COMPANY1515 S. Sepulveda Blvd., Los Angeles, CA 90025www.westmac.comCompany DRE # 01096973

BILL UKROPINASenior Executive Vice [email protected] # 00820557

COLDWELL BANKER COMMERCIAL NRT388 S. Lake Ave., Pasadena, CA 91101www.cbcnrt.comCompany DRE # 00616212

©2020 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission.

FOR SALE | PRIME HARD SIGNALIZED CORNER RETAIL MINUTES FROM LAX


Coldwell Banker Commercial NRT and WESTMAC Commercial Brokerage Company are pleased to present the rare opportunity to acquire 6200 W. Manchester Ave., Los Angeles, California in the affluent community of Westchester, minutes from Los Angeles International Airport.

6200 W. Manchester Avenue is a ± 4,254 square foot retail building situated on ± 6,129 square feet of land at the signalized intersection of Manchester Avenue and Truxton. It is comprised of two (2) retail units. One (1) vacant space previously occupied by a liquor store, and one (1) fitness tenant occupying ± 2,167 square feet until August 31, 2023. There is a month-to-month billboard on top of the roof that is currently leased at $1,000 per month. There is ample free public parking located in a reciprocal parking lot adjacent the subject property.

Built in 1948, 6200 W. Manchester Avenue is located in the Westchester Triangle Commercial Historic District, a small historic district containing largely one-story buildings with prominent storefronts in the Commercial Vernacular style. The building features display windows, stone brick cladding, and projecting blade signage. The hard corner location and prominent signage offers tenants and users great visibility along a highly traveled thoroughfare.

6200 W. Manchester Avenue is located in the South Bay region of Los Angeles county, a short drive from LAX, Playa Vista, El Segundo, Manhattan Beach, and the future LA Rams/Chargers stadium. Nearby large employers include Northrup Grumman, The Aerospace Corporation, Lockheed Martin, Boeing, Teledyne, Space X, Tesla, Raytheon, and many more. Easy access to the 405/110/105 freeways, and ample amenities surround the property.

In addition, an influx of technology companies that make up Silicon Beach, Westchester is home to Loyola Marymount University, and a highly affluent demographic, which makes 6200 W. Manchester an excellent owner-user opportunity.

EXECUTIVE SUMMARY


ADDRESS 6200 W. Manchester Avenue, Los Angeles, CA 90045

APN 4123-003-014

BUILDING SIZE +/- 4,254 square feet (per tax record)

LAND SIZE +/- 6,129 square feet

TYPE Retail

BUILT 1948

ZONING LAC2

STORIES One (1)

NO. OF UNITS Two (2)

OCCUPANCY 51%

FRONTAGE Approx. 80’ along Manchester Avenue

PARKING Free parking located in the adjacent Reciprocal Parking Lot (see pg. 9 for map)

ASKING PRICE $3,388,000 ($796/SF)

PROPERTY SUMMARY

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PARCEL MAP

N

TENANT SQ FT RENT MONTHLY RENT ANNUAL CAM% LEASE EXPIRES INCREASES

Fitness 2,167 $4,775 $57,300 51.6% 8/31/2023 3% annual

Billboard 0 $1,000 $12,000 - MTM -

Former Liquor Store (vacant) 2,087 $0 $0 - - -

Totals 4,254 $69,300

NOTES REGARDING FITNESS TENANT: Tenant is not responsible for real estate taxes. Tenant has one (1) three (3) year option to renew at Fair Market Rent. Tenant has the Right of First Refusal and has ten (10) days to purchase at the listed price.

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LEASE & OTHER DUE DILIGENCE DOCUMENTS AVAILABLE UPON REQUEST

RENT ROLL SUMMARY


• OWNER USER OPPORTUNITY The building is currently 49% vacant, presenting owners users with opportunity to occupy space along an amenity rich Los Angeles commerce corridor.

• STRONG MARKET DEMOGRAPHICS Due to increasing demand from healthcare, biotech, e-commerce, & life science industries, and the close proximity to LAX and the Port of Los Angeles, homes have been in high demand and driving up prices. In addition, new developments like the stadium in Inglewood, the expansion of LAX and a resurgence of aerospace jobs coming back into the South Bay have helped fuel the boom.

• EXCELLENT VISIBILITY The building is on a hard corner at a signalized intersection. The building’s unique architecture includes excellent pylon signage and ample frontage which presents great visibility opportunity along highly-traveled Manchester Avenue. The estimated traffic volume is over 31K vehicles per day at the intersection of Manchester & Truxton, and over 52K vehicles per day at the intersection of Manchester and Sepulveda.

• AMENITY RICH AREA The property is located along major Manchester Avenue thoroughfare, one block east if major Sepulveda Boulevard. There are many dining and shopping options in the immediate area including the Runway Shopping Center. Surrounding retailers include: IHop, Staples, CVS, Trader Joe’s, Home Goods, TJ-Maxx, Panera Bread, Starbucks, Ralph’s, Ross Dress for Less, Kohl’s, Bed Bath and Beyond, and many others.

• BOOMING COMMERCE HUB Part of Silicon Beach, the area is home to several major Class A office campuses occupied by some of the world’s leading media and entertainment companies. Area employers include Snap, Inc., Google, Youtube, Sony, Electronic Arts, Pop Media, and many others.

• ACCESSIBILITY & TRANSIT ORIENTED The property is easily accessible to the 105 freeway, the 10 freeway, and the 405 freeway. The property is located just south from the Los Angeles International Airport (LAX).

PROPERTY HIGHLIGHTS

Fresh on the scene is Platform, which houses art, eateries, and merchants. Platform is one of Culver City’s newest and most beautiful buildings comprised of a collection of the world’s best chefs, creative companies and vendors.

RECIPROCAL PARKING LOT

11

SEPU

LVED

A BO

ULEV

ARD

MANCHESTER AVENUE

RECIPROCAL PARKING LOT

SUBJECT PROPERTYPARCEL ID: 4123-003-014


EXTERIOR | VACANT SPACE (FORMER LIQUOR STORE)

13

INTERIOR | VACANT SPACE


EXTERIOR | FITNESS TENANT (DBA “HORN STRENGTH CONDITIONING”)

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INTERIOR | FITNESS TENANT

Westchester is a neighborhood in Los Angeles and the Westside Region of Los Angeles County, California.

It is home to Los Angeles International Airport, Loyola Marymount University, Otis College of Art and Design, and Westchester Enriched Sciences Magnet Schools (formerly Westchester High School). The main part of Westchester is flanked by Playa Vista and Culver City on the north, Inglewood and Lennox on the east, Hawthorne on the southeast, Del Aire and El Segundo on the south and Playa del Rey on the west. It includes all of the Los Angeles International Airport.

Westchester began the 20th century as an agricultural area. The rapid development of the aerospace industry near Mines Field (as the Los Angeles Airport was then known), the move of then Loyola University to the area in 1928, and population growth in Los Angeles as a whole created a demand for housing in the area.

6200 W. Manchester Avenue is located in the Westchester Triangle Commercial Historic District. The Westchester Triangle Commercial Historic District is an excellent example of a postwar neighborhood shopping center planned as part of a larger postwar residential development, and illustrates the rapid growth of this part of Los Angeles in the immediate post-World War II period.

A total of 39,480 people lived in Westchester’s 10.81 square miles, according to the 2010 U.S. census, and that figure included the uninhabited acreage of the Los Angeles International Airport—resulting in a density of 3,652 people per square mile, among the lowest population densities in the city of Los Angeles but about average for the county.

AREA SUMMARY


GARDENA

PORT OFLOS ANGELES

HAWTHORNEEL SEGUNDO

LAX

INGLEWOOD

CARSON

LOMITAWILMINGTON

PALOS VERDES ESTATE

ROLLING HILLS

RANCHO PALOS VERDES

SAN PEDRO

HARBOR CITY

ROLLING HILLSESTATES

WESTCHESTER

PLAYA DEL REY

REDONDO BEACH

HERMOSA BEACH

MANHATTAN BEACH

TORRANCE

E El Segundo Blvd

Highland A

ve

Herm

osa Ave

Vista D

el Mar

Rosecrans Ave

Ha

wth

orn

e B

lvd

Av

iatio

n B

lvd

Manhattan Beach Blvd

W Redondo Beach Blvd

Palos Verdes Dr S

S W

est

ern

Av

e

Ha

wth

orn

e B

lvd

Sepulveda Blvd

Pra

rie

Ave

Artesia Blvd

W 190th St

Torrance Blvd

Del Amo Blvd

Cre

nsh

aw

Blvd

Ve

rmo

nt A

ve

Cre

nsh

aw

Blvd

S W

este

rn A

ve

Lomita Blvd

Ripley Ave

Marine Ave

W Rosecrans Ave

W 120th St

405

405

110

405

105

110

107

213

110

1

47

710

710

91

113

47

1

N


The South Bay is a region of the Los Angeles metropolitan area, located in the southwest corner of Los Angeles County. The name stems from its geographic location stretching along the southern shore of Santa Monica Bay. The South Bay contains fifteen cities plus portions of the City of Los Angeles and unincorporated portions of the county. The area is bounded by the Pacific Ocean on the south and west and generally by the City of Los Angeles on the north and east.

THE SOUTH BAY

21

AREA HIGHLIGHTS

• The South Bay region is considered the epicenter of Southern California’s thriving Industrial, Shipping & Exporting & manufacturing industry.

• The area is home to several major Class A office campuses occupied by some of the world’s leading aerospace and research & manufacturing companies. Area employers include Space X, Tesla, Boeing, Northrop Grumman, US Air Force, Aerospace Corporation, Raytheon Space and Airborne Systems, and many others.

• Millennials are flocking to area for its work/live/play environment.

• Close to the 405 and 105 Freeways which gives travelers accessibility to Orange County and various parts of Los Angeles County.

• Area gives immediate access to Los Angeles International Airport (LAX).

1 . 9 m i1 . 9 m i

LAX MANHATTAN BEACH

HERMOSA BEACH PLAYA VISTA

DISTANCE FROM SUBJECT PROPERTY

6 m i6 m i

7 . 2 m i7 . 2 m i 3 . 1 m i3 . 1 m i

MAJOR INDUSTRIESImporting/ Exporting, Aerospace, Automotive & Oil Refining.

BOEING - EL SEGUNDO

PBF ENERGY - TORRANCE

HONDA - TORRANCE

PORT OF LOS ANGELES

SPACE X - HAWTHORNE

CHEVRON - EL SEGUNDO

TESLA - HAWTHORNE

LAX

POPULATION 1-MILE 3-MILE 5-MILE

2020 Estimated Population 17,579 217,858 629,845

2025 Projected Population 17,805 219,268 632,362

HOUSEHOLDS 1-MILE 3-MILE 5-MILE

2020 Estimated Households 6,904 82,969 246,808

2020 Avg. Household Income $133,299 $106,109 $102,895

2020 Med. Household Income $109,020 $74,835 $73,151

BUSINESS 1-MILE 3-MILE 5-MILE

Total Businesses 1,451 10,891 27,252

# of Employees 14,298 139,203 294,813


DEMOGRAPHICS

N

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LOCATION MAP

LAX

This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company, Coldwell Banker Commercial NRT, or by the Seller.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

DISCLAIMER

25

T.C. MACKER, [email protected] # 01232033

WESTMAC COMMERCIAL BROKERAGE COMPANY1515 S. Sepulveda Blvd., Los Angeles, CA 90025Company DRE # 01096973

BILL UKROPINASenior Executive Vice [email protected] # 00820557

COLDWELL BANKER COMMERCIAL NRT388 S. Lake Ave., Pasadena, CA 91101Company DRE # 00616212

FOR MORE INFORMATION CONTACT LISTING AGENTS.

LOS ANGELES, CA 900456200 W. MANCHESTER AVENUE

prime hard signalized corner retail minutes from lax

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