rare dtla ground floor opportunity available for lease … · rare dtla ground floor opportunity....

RARE DTLA GROUNDFLOOR OPPORTUNITY

Available For Lease Up To 10,368 SF DIVISBLE

WITH UP TO 2,320 SF OF PATIO

JOHN ANTHONY Senior Managing DirectorLic. #[email protected]

CHRIS STECK Managing DirectorLic. #[email protected]

CHRIS GIORDANODirectorLic. #01928706 [email protected]

CONTACT

CHARLES DUNN COMPANY800 West Sixth Street, Suite 800, Los Angeles, CA 90017

Lic. #01201641 | 213.481-1800charlesdunn.com

THE OPPORTUNITY

The Downtown Los Angeles renaissance has created an electric momentum that has transformed the urban landscape into one of the most iconic and modern areas within Los Angeles.

As the buildings continue to rise and the cranes continue to occupy the rapidly developing lots, Downtown Los Angeles has become the center of groundbreaking redevelopments and one of the most desirable places to bring high-end retail and restaurants.

606 South Olive Street offers a tenant an entry into this new landscape and a space on the ground floor of the New Downtown.

Adjacent to the historic and soon-to-be revitalized Pershing Square, 606 South Olive Street is a 25-Floor, fully occupied office building situated on the southeast corner of Sixth Street and South Olive Street. The building offers 24-hour security and a remodeled subterranean garage. Additional parking can be accessed from the Pershing Square Parking structure, creating a combined parking capacity of 2,024.

As an ideal fit for retail or dining purposes, this ±10,368 RSF divisible space offers an open floor plan and is perfectly suitable for a single or multitenant use. The property may also be divisible to allow a bank branch or café facing Olive Street. There is also the potential for up to approximately 2,320 SF of patio space facing both 6th Street and Olive Street.

606 SOUTH OLIVE, LOS ANGELES, CA. 90017 | 2 | CHARLES DUNN COMPANY

Available Space Term

5 - 10+ Years

Rate SF

Negotiable

Availability

Immediate

Open floor plan perfect for single or multitenant

Adjacent to the soon-to-be revitalized Pershing Square

Central Downtown Los Angeles Location

Near the Financial and Jewelry District, and one block away from the Metro Red Line

Will directly benefit from Downtown’s populationof over half a million daytime workers

Exclusive building-top signage opportunity

Tremendous Ceiling Heights of 22’7’’ Slab-to-Slab

Approximately 10,368 SF Divisible

Expanding Market Overview

Pershing SquareRedevelopment Rendering

Architectural Rendering Floor Plan

Amenities:1: Bank of America2: Starbucks3: Tender Greens4: Subway5: 7Eleven6: Arda’s Cafe7: Pershing Square8: 6th Street Market9: LA Theatre10: Seven Bar Lounge

Parking:1: Athena Parking2: SP Plus Corporation3: Central Parking System4: ABM Parking Services5: Paragon Parking

Developments:1: Park Fifth2: Alexan South Broadway3: Broadway @ 4th4: 8th & Grand5: Beacon on Hill

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Amenities & Demographcis


606 S. Olive StreetLos Angeles, CA 90014

TABLE OFCONTENTS


ARCHITECTURAL

RENDERING

FLOOR PLAN

850 ± USF

725± RSF

9,594 ± RSF


CURRENT FIRST FLOOR PLAN

S. OLIVE STREET

W. 6TH STREET

FLOOR PLANPROPOSED SINGLE TENANT FIRST FLOOR PLAN

830 ± USF

10,319 ± RSF

1,490 ± USF


S. OLIVE STREET

W. 6TH STREET

FLOOR PLANPROPOSED TWO-TENANT FIRST FLOOR PLAN

1,490 ± USF

830 ± USF

5,259 ± RSF

5,060 ± RSF

Demising wall may be moved to accommodate the tenant’s requirement.


S. OLIVE STREET

W. 6TH STREET


PERSHING SQUAREREDEVELOPMENT RENDERING

THE RENEWAL OF PERSHING SQUARE

Due to the revitalization of several of its neighborhoods, Downtown Los Angeles thrives with a vibrancy never seen in its history. Areas like the Old Bank District and the Historic Core were once filled with vacant buildings; now they’re teeming with brand-new apartment buildings, high-end retail shops and restaurants. As a result, businesses are relocating downtown. Population has increased 150% since 2000, and continues to grow at a rapid pace. New downtown destinations like the BLOC, Grand Central Market and FIGat7th draw tourists and locals alike, both day and night. Pershing Square Park is the heart of Downtown LA. It’s also one of the few remaining areas to not receive a facelift. That’s about to change. Earlier this year, an international design-team led by the Paris-based Agence Ter were selected to redesign the five-acre park using what they call a “radical flatness” to open up the space, connecting one part of the city to another, offering visitors both entertainment with concert events and relaxation with its great lawn and reflecting pool. Think of it as Central Park on the West Coast.

Think of it as Central Park on the West CoastPershing Square Video



1 | BROOKS BUILDING The former J.E. Carr Building next to Clifton’s Cafeteria will be turned into a 30-unit residential development. An additional level will be added to the 7-story structure will include one- and two-bedroom apartments, a 2,500 SF ground-floor bar and an automated parking facility.

2 | 801 S. OLIVE STREET This new residential tower is slated to complete construction in late 2017. The new tower will have 363 units with studios, one- and two-bedroom apartments, eight penthouses, a rooftop pool and lounge area, a fitness center, a 5-story parking facility, and 10,000 SF of street-facing retail.

3 | METROPOLIS As the biggest development in Los Angeles, Metropolis will be built in phases and will reach completion in 2018. The project will include 1,500 condo units, a 18-story boutique hotel, and retail space.

4 | BEACON TOWER Although the permits are still in process, this high-rise project at the corner of Fourth and Hill Street will consist of a 33-story tower equipped with 428 studios to two-bedroom apartments, and 433 parking stalls. The project will also involve updating the Pershing Square metro station.

5 | 732 S. SPRING STREET A 24-story tower that will bring 303 units to the Historic Core. The project will contain a pool, a terrace, and over 7,200 SF of ground-floor commercial space. 732 S. Spring Street will reach completion at the end of 2018.

NEARBY DEVELOPMENTS1 2

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NEARBY DEVELOPMENTS

9 | 525 S. SPRING STREET This project includes a parking structure with ground-floor retail, a 12-story mid-rise structure, and finally a 40-story apartment high-rise designed by architecture firm Martinez + Cutri. The project’s 40-story height will be retained, but also incorporates plans to renovate the three adjacent Broadway theaters also owned by Hellen—the Roxie, Cameo and Arcade.

10 | 888 S. OLIVE STREET When completed, the new tower will have 283 units for rent (potentially more than 400 new residents added to the downtown population) and a whopping 11,000 SF of commercial retail space on the ground floor that could help activate the intersection substantially, while also helping to connect the southern part of the Historic Core to South Park and the Financial District.

11 | 820 S. OLIVE STREET At 637 feet in height, the tower will be among the tallest residential buildings in the state of California. A 5-level podium spanning across the property will provide the majority of the development’s 600-car garage. Aboveground parking levels will be obscured from view by residential units along both Hill and Olive Streets.

6 | PARK FIFTH The long-awaited project will be built in two phases and will bring 660 apartments within a 24-story building. The first phase will also bring 7,456 SF of ground parking and 22,000 SF of retail space. The project will also include an office building.

7 | CIRCA Circa will be comprised of 36-story twin towers and will bring 648 condominiums, 1,770 parking spots, and a 7-story retail podium occupying 48,000 SF of space. The development will also include a two-acre outdoor amenity deck and 15,000 SF of LED signage along Figueroa Blvd.

8 | 633 S. SPRING STREET The 325-foot tall building will consist of a jagged structure soaring high above Spring Street. A mid-rise section of the tower will stand flush with the sidewalk, matching the height profile of adjacent, historic structures.

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15 | PERSHING SQUARE The new design will bring the iconic town square back to the ground, lowering the top level of the parking structure, opening up the view and creating paths for pedestrians. The design also includes a reflecting pool,a “smart canopy” that will light up at night and provide shade during the day, water cycling, alternative energy systems, and landscaping that includes gardens, grasses and lawns.

16 | HILL TOWER LOFTS This exciting continuation of the Historic Core’s revitalization is set to break ground in the next year: The Hill Tower Lofts at 920 S. Hill Street will have 239 residential units in a 33-story tower with an additional 5,400 SF of retail.

12 | ALEXAN SOUTH BROADWAY This 26-story tower from developers Trammell Crow Residential will have 305 luxury apartments with 7,000 SF of ground floor retail space. The residential units will sit atop a 333-car parking podium; the building will also have 344 bike parking spaces.

13 | 649 S. OLIVE STREET The proposed NoMad Los Angeles building will include 241 guest rooms with custom-designed furnishings, original artwork as well as a classy bar. Hotel guests will have access to a rooftop pool and event deck with panoramic views of the city. The building’s ground level will feature multiple food and beverage venues in addition to an approximately 1,000 SF retail stall fronting Olive Street.

14 | 888 S. HOPE STREET 888 South Hope will have 526 apartment units for rent and the attached 6-story parking structure will have rooftop amenities of which haven’t been named yet, but we should expect to see a pool, clubroom, BBQ deck, cabanas, fire pit, etc. similar to other luxury high-rises in Downtown LA.

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NEARBY DEVELOPMENTS

Residential35,520 Units

Hotels8,163 Rooms

Retail24.6M SF

Office Space68+M SF

MetroExpo Line Extension

MOST RECENT LEASECOS | FashionShinola | Watch PurveyorShake Shack | EateryDunkin’ Donuts | Eatery

ExistingResidential10,980 Units

Hotels2,515 Rooms

Retail1.9M SF

Office Space2.8M SF

Metro1.9 Mile underground light rail extention

PROJECTS Ford Factory | OfficeBroadway Trade Center | Mixed Use4th and Traction | OfficeWilshire Grand Center | Mixed UseMetropolis | Mixed UseOceanwide Plaza | Mixed UseRow DTLA | OfficeThe Bloc | Retail

Under ConstructionResidential14,752 Units

Hotels3,976 Rooms

Retail1.1M SF

Office Space190K SF

PROJECTSJW Marriott Expansion | Hotel1020 South Figueroa | Mixed UseFig + Pico | Hotel

Proposed


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Source: Downtown LA Market Report

NEARBY DEVELOPMENTS


TRANSPORTATION DEVELOPMENTS

1 | FIGUEROA CORRIDOR BIKEWAY | MYFIGUEROA A $20 million, three-mile bikeway project that run from Seventh Street in Downtown to 41st Street in South LA. The project will also include bus platforms that extend the sidewalk for transit riders, and will improve landscaping and pedestrian signage.

2 | LOS ANGELES STREET CAR This $282 million project is projected to reach completion by 2020 and will be a 3.8-mile route connecting commuters from Civic Center to South Park. The Street Car is estimated to serve 3,851 to 5,733 riders per day.

3 | REGIONAL CONNECTOR A $1.55 billion rail project will connect the Little Tokyo/Arts District Gold Line station to the 7th/Metro Center Station. This 1.9-mile connector will improve the efficiency of cross-county travel and limit the amount of transfers needed. The underground tunnel will begin construction in 2017 and is slated to open by 2020.

4 | SIXTH STREET VIADUCT Known as the largest in Los Angeles’ history, this $449 million project will bring parks, open spaces, and community features next to and on the bridge. The new bridge will also include bicycle lanes and pedestrian viewing points and will connect the Arts District to Boyle Heights. The side facing the Arts District will feature a park named after Leonard Hill. The viaduct is scheduled to open in 2019.

5 | UNION STATION Slated to begin construction in 2017, The Union Station Master Plan will have two main components – a large indoor-outdoor passenger concourse which will connect commuters to an updated rail yard and the replacement of the Patsaouras Bus Facility with an elevated bus terminal. Other improvements will include a walkway to the rail lines and the conversion of the west parking lot into a public plaza.

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AMENITIES MAP

WHOLE FOODS

FIDM

THE BLOC

THE PEGASUS

801 S. OLIVE STREET

PARK FIFTH

ALEXAN

BEACON TOWER

732 S. SPRING STREET

BILTMORE

MOCA

THE BROAD

THE PARK

GRAND CENTRAL MARKET

PALACE THEATRE

TOPACTIVITIES

Dining Out 70%Sightseeing/Photo-taking 44%Hanging out with friends 42%People watching 38%Visiting Museum or Art Gallery 22%

POPULARVENUES

Staples CenterDodger StadiumExpo Park/USCThe Music CenterDTLA Art Walk

LIVE/WORKLIVE but not work here WORK but not live here

$99.9K$96.6K $99.6KMEDIAN INCOME

80%76% 73%BA OR HIGHER

3738 45MEDIAN AGE


DEMOGRAPHICS

JOHN ANTHONY Senior Managing DirectorLic. #[email protected]

CHRIS STECK Managing DirectorLic. #[email protected]

CHRIS GIORDANODirectorLic. #01928706 [email protected]

CONTACT

CHARLES DUNN COMPANY800 West Sixth Street, Suite 800, Los Angeles, CA 90017

Lic. #01201641 | 213.481.1800charlesdunn.com

rare dtla ground floor opportunity available for lease … · rare dtla ground floor opportunity....

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