BURBANK OWNER/USER PURCHASE OPPORTUNITY...Burbank is the fifteenth most populous city in Los Angeles County. As of the 2010 census the population was 103,340. As of the 2010 census

BURBANK OWNER/USER PURCHASE OPPORTUNITY

Industr ial / Flex for Sale±16,480 SF

Confident ia l Offer ing Memorandum

Presented By:

Adam Comora, Senior Vice President818.742.1610 • [email protected] BRE Lic #01312271

Table of Contents

Exclusive Advisor

315 S. Flower St. Burbank, CA

I Executive Overview

II Property Information

Property Highlights

Building Photos

Property Aerials

Site Plan

III Area Information

Burbank Overview

San Fernando Valley East

Burbank Retail Map

Demographics

IV Agent Profile

Adam ComoraSenior Vice President818.742.1610 [email protected] BRE Lic #01312271

I Executive Summary

Executive Summary

NAI Capital, Inc., is proud to present a prime owner-user/investment opportunity to purchase a unique and rare industrial/flex building totaling approximately 16,480 +/- square feet. The Property is situated on an approximately 27,568 square feet of land zoned BUM2, located in prime Downtown Burbank, California.

Approximately 50% of the building is currently built out as office space. However, these offices can easily be converted back to warehouse or manufacturing space as well as creative office space. Approximately 90% of the building has full HVAC. There are 2 dock high loading doors in the rear and a ground level loading door in the front of the building. The building has a fenced rear yard and parking area, with parking for approximately 16 vehicles. Clear height ranges from 12-15 feet with a bow truss roof. The building has a 1,600 amp – 208/120V, 3 phase power service.

With no inventory of quality single or multi-tenant industrial/flex properties in the immediate area and with flexible M2 zoning, this Property presents a unique opportunity to acquire a high quality property in one of the most desirable locations in Burbank.

315 S. FLOWER ST. 4

Investment Summary

Price $5,600,000

Building Size 16,480 SF

Price/SF $340

Lot Size 27,568

Property Type/Zoning Industrial/M2

Property Sub-type Flex Space

Additional Sub-Types Manufacturing, Warehouse

Property Use Type Vacant/Owner-User

Occupancy 0%

No. of Stories 1

Year Built 1956

II Property Information

Property Highlights

315 S. FLOWER ST. 6

Industrial / FlexBurbank, CA

• Excellent Owner/User Opportunity

• Concrete Tiltup Construction – Bow Truss Roof

• 1600 Amp - 208/120V - 3 pahse power service

• Two dock-high loading doors, 1 ground level

• Ideal Location in prime Downtown Burbank

• New IKEA just opened less than 1 mile away

• Parking for 16 plus cars

• Clear height ranges from 12 – 15 feet

• Minutes from the Burbank Airport, City Hall, Studios and numerous other amenities.

• 90% of the building has full HVAC

The property is located on the corner of W Verdugo Ave. and S. Flower Street. Close proximity to numerous freeways, the Burbank Airport and numerous amenities.

Exterior Building Photos Industrial / FlexBurbank, CA

315 S. FLOWER ST. 7

Interior Building Photos Industrial / FlexBurbank, CA

315 S. FLOWER ST. 8

Property Aerial

S Flower St

W Verdugo Ave

SITE


315 S. FLOWER ST. 9

Property Aerial & Traffic Counts

SITE

3K CPD 30K CPD

213K CPD

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III Area Information

Burbank Overview

B U R B A N K is a part of the Tri-Cities market, which includes the cities of Burbank, Glendale and Pasadena. Although Burbank and Glendale are considered part of the San Fernando Valley, and Pasadena is considered part of the San Gabriel Valley, these cities are regarded as part of a distinct sub region. These three neighboring cities are often grouped together because they tend to have more in common with each other than with other cities in the San Fernando Valley or San Gabriel Valley.

Burbank has over 12.6 million square feet of office space in its inventory, with two properties under construction totaling 31,824 square feet. Vacancies remain low for Los Angeles, with Burbank’s office vacancy rate totaling 7.9% compared to 8.9% for the Tri-Cities, and 11.2% for Los Angeles County overall. Rents have grown over the year, with average asking rents rising 5.9% from $3.21/SF to $3.40/SF, and are projected to continue growing into 2018.

Burbank’s industrial market totals just over 9.3 million square feet of industrial space, and vacancy rates remaining extremely low at 1.5%. Vacancy rates have dropped 10 basis points from 3Q 2016 and are among the lowest rates in the nation. Average asking rents have held steady over the year at $1.40/SF but are higher than the Los Angeles County average at $0.80/SF.

Burbank’s flex market totals just under 1.0 million square feet of space, and is considerably smaller than the other two product types. Vacancy remains low in the flex market, as vacancy rates have dropped 70 basis points over this time last year to 1.6%. Rents have grown 15.9% from $1.89/SF in 3Q 2016 to $2.19 in 3Q 2017.



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Burbank Overview

Burbank is the fifteenth most populous city in Los Angeles County. As of the 2010 census the population was 103,340. Burbank is bordered by Griffith Park to the south, Glendale to the southeast, North Hollywood and Studio City to the West, and the Verdugo Mountains to the northwest. It is the easternmost city in Los Angeles’ San Fernando Valley.

Burbank is often referred to as the “media capital of the world.” It is located northeast of Hollywood and is home to numerous entertainment companies, media outlets and production facilities. Some of the most significant companies housed in Burbank include The Walt Disney Company, Warner Bros. Entertainment, Nickelodeon Animation Studios, ABC, Cartoon Network and Insomniac Games.

Several transportation arterials connect Burbank with the surrounding Los Angeles region and beyond. Interstate 5 cuts through the middle of the city, heading south to San Diego and extending north through and Northern California to the Pacific Northwest. California State Route 134 lays at Burbank’s southern edge and connects U.S. 101 with I-210 and State Route 210 to the San Gabriel Valley. Hollywood Burbank Airport, previously known as Bob Hope Airport, serves the northern Greater Los Angeles area with passenger, cargo and military flights. The airport estimates it serves between four and five million passengers a year. Burbank offers several rail and bus options, including Burbank Bus that serves the city. Metrolink trains from the Ventura County and Antelope Valley lines stop in Downtown Burbank with an additional stop at Burbank Airport for the Ventura County line.

The population of Burbank was estimated to be 108,025 in 2017 according to ESRI estimates. Estimated average household income for the city is $96,218 and average household size is 2.48. There are approximately 18,000 owner occupied housing units and 25,000 renter occupied units. Burbank’s population is expected to grow at a rate of 0.6% per year, reaching approximately 111,360 residents by 2022.

Burbank Top Employers

Rank Employer Employees

1 Warner Bros. Entertainment 5,000

2 The Walt Disney Company 3,900

3 Providence St. Joseph’s Hospital 2,850

4 Bob Hope Airport 2,200

5 Burbank Unified School District 1,800

6 City of Burbank 1,600

7 Deluxe Shared Services 1,540

8 ABC Inc. 951

9 Nickelodeon Animation 602

10 Crane Co. Hydro-Aire Division 594

Source: City of Burbank, Comprehensive Annual Financial Report 2015-2016



San Fernando Valley East

The San Fernando Valley is an urban enclave of Los Angeles County home to approximately 1.8 million residents. It stretches roughly from the Santa Susana Mountains to the northwest, the Simi Hills to the west, the Santa Monica Mountains and Chalk Hills to the south, the Verdugo Mountains to the east, and the San Gabriel Mountains to the northeast. Approximately 80 percent of the San Fernando Valley falls within the boundaries of the City of Los Angeles. The eastern portion of the Valley comprises many neighborhoods including Arleta, Mission Hills, North Hollywood, Pacoima, Sun Valley, Sunland, Sylmar, Studio City and Tujunga; the independent cities of Burbank, Glendale and San Fernando; and unincorporated Universal City.

In 2017, the population of the eastern portion of the San Fernando Valley was 752,083, according to Esri. This is an increase of 5.1% from the population counted in the 2010 census. Furthermore, Esri estimates that the population will grow approximately 0.67% per year over the next five years to reach 777,677 residents in 2022. The population is diverse, with 57.6% identifying as White, 2.7% as Black, 10.6% as Asian, 4.85 as multiracial and 23.6% as another race. Among all races, 52.2% identify as Hispanic. The current median household income is $57,168 and the average household income is $80,915. This is expected to reach $63,588 and $92,054 respectively in 2022.

The San Fernando Valley is a dynamic economic engine with a wide range of industries including

insurance, healthcare, biotechnology, education, and the most notable on the eastern end of the San Fernando Valley and Burbank is the heart of entertainment, television, and filmmaking. Universal Studios Hollywood, Universal Music, The Walt Disney Company, Warner Brothers, DreamWorks, NBC, Pratt & Whitney, Intuit, Farmers Insurance, Health Net, Anheuser Busch, Nickelodeon Animation Studios, and CBS Studios all call the Valley home. A highly educated workforce, well-developed infrastructure, hospitable climate, and business-friendly municipal governments have combined to facilitate the establishment of more than 50,000 small businesses as well.

Investment in transit and housing have been transforming the San Fernando Valley over the past several years. There are 37 multifamily apartment projects under construction in the San Fernando Valley totaling 3,910 units, of which 22 projects and 2,337 units are underway in the East Valley. Los Angeles County Metropolitan Transportation Authority has integrated portions of the San Fernando Valley with transit projects, including Metro’s Red Line, the Orange Line and Metrolink stations in Chatsworth, Van Nuys, Northridge, North Hollywood, Burbank, Glendale, San Fernando and Sun Valley. The East San Fernando Valley Transit Corridor is in the planning phase and would connect the Metro orange Line in Van Nuys to the Sylmar/San Fernando Metrolink Station. Construction on the project would begin in 2021 for a 2027-29 opening date.



Burbank Retail Map Industrial / FlexBurbank, CA


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Populat ion1 Mile 3 Mile 5 Mile

2017 Estimated Population 40,127 160,183 508,437

2022 Projected Population 41,434 164,921 524,767

2010 Census Population 39,192 156,702 482,792

2000 Census Population 38,454 154,304 483,526

Projected Annual Growth 2017 to 2022 0.7% 0.6% 0.6%

Historical Annual Growth 2000 to 2017 0.3% 0.2% 0.3%

Race1 Mile 3 Mile 5 Mile

2017 Est. White 69.1% 70.5% 65.5%

2017 Est. Black 3.5% 3.0% 3.8%

2017 Est. Asian or Pacific Islander 12.9% 13.3% 12.8%

2017 Est. American Indian or Alaska Native 0.5% 0.4% 0.4%

2017 Est. Other Races 13.9% 12.8% 17.4%

Income1 Mile 3 Mile 5 Mile

2017 Est. HH Income $200,000 or More 5.1% 8.9% 9.0%

2017 Est. HH Income $150,000 to $199,999 5.7% 8.4% 6.8%

2017 Est. HH Income $100,000 to $149,999 14.1% 16.3% 14.4%

2017 Est. HH Income $75,000 to $99,999 12.5% 13.0% 12.0%

2017 Est. HH Income $50,000 to $74,999 16.0% 15.4% 16.2%

2017 Est. HH Income $35,000 to $49,999 11.9% 11.8% 12.6%

2017 Est. HH Income $25,000 to $34,999 9.4% 7.5% 8.5%

2017 Est. HH Income $15,000 to $24,999 12.4% 9.6% 10.2%

2017 Est. HH Income Under $15,000 13.0% 9.2% 10.2%

2017 Est. Average Household Income $70,228 $88,300 $86,065

2017 Est. Median Household Income $55,638 $73,613 $68,492

2017 Est. Per Capita Income $29,626 $35,180 $34,914

Households1 Mile 3 Mile 5 Mile

2017 Estimated Households 16,896 63,748 205,933

2022 Projected Households 17,624 66,323 214,684

2010 Census Households 16,351 61,783 192,918

2000 Census Households 15,847 61,451 191,212

Projected Annual Growth 2017 to 2022 0.9% 0.8% 0.8%

Historical Annual Growth 2000 to 2017 0.4% 0.2% 0.5%

Age1 Mile 3 Mile 5 Mile

2017 Est. Population Under 10 Years 9.8% 10.1% 10.1%

2017 Est. Population 10 to 19 Years 10.3% 10.3% 9.9%





2017 Est. Population 75 Years or Over 7.5% 7.3% 6.6%

2017 Est. Median Age 38.3 39.6 38.3

Labor Force1 Mile 3 Mile 5 Mile

2017 Est. Total Businesses 3,222 9,344 24,559

2017 Est. Total Employees 30,396 115,763 275,348

2017 Est. Labor Population Age 16 Years or Over 33,830 134,250 427,582

2017 Est. Civilian Employed 62.5% 62.8% 64.1%

2017 Est. Civilian Unemployed 3.1% 2.9% 3.1%

2017 Est. not in Labor Force 34.4% 34.3% 32.7%

Demographics Industrial / FlexBurbank, CA


IV Agent Profile

Agent Profile

Specialties: Industrial, Office

Scope of Service Experience

As Senior Vice President for NAI Capital, Inc., Adam has distinguished himself as a proven deal maker who applies extensive market knowledge, the latest technology has to offer, as well as a wealth of information and resources to further accommodate his clients throughout the transaction process. Adam assures his clients’ satisfaction by providing genuine customer service allowing him to advise clients’ and maintain relationships through listening, communicating and educating clients to the highest standards.

Background & Experience

Since 2001, Adam Comora has represented Buyers, Sellers, Tenants and Landlords in all aspects of the leasing and sales of commercial properties. Adam offers a rare blend of talents and expertise to his progressive and results-oriented service as a successful real estate agent specializing in Office and Industrial Real Estate in the San Fernando Valley and surrounding areas. Adam enhances his capabilities and value to clients by also specializing in Investment Properties. This includes wide experience in all areas of commercial real estate, including office, industrial, medical, retail and multifamily properties. Adam has closed hundreds of real estate leases and sales transactions in his career in all facets of commercial real estate.

Education

Adam brings an extensive educational and business background to his Commercial Real Estate business. He attended the University of Arizona where he majored in Communications. Later he spent one year with United Fabrics International in Los Angeles, leading the company in sales for the West Coast area prior to entering the commercial real estate industry in 2001. From 2001 through 2012, Adam served as Vice President for Delphi Business Properties in Van Nuys and was a dynamic producer each and every year. He is currently living in Sherman Oaks and has a diverse range of interests, including fine arts, classic cars, basketball, football, baseball, golf, tennis, snowboarding, traveling and other outdoor activities. Adam is also involved with numerous charities.

Transaction History

Some of Adam’s notable clients include Smart & Final, AIDS Project Los Angeles, Easton Sports, Jade Enterprises, Paris Industrial Parks, Hager Pacific Properties, Standard Management Company, 3D Investments, American Medical Response, Authentic Entertainment, Avianca Airlines and many more.

Adam ComoraSenior Vice PresidentDirect: 818.742.1610 Mobile: [email protected] BRE Licence #01312271

NAI Capital 16001 Ventura Blvd.Suite 200Encino, CA 91436



Exclusive Advisor

315 S. Flower St. Burbank, CA

Adam ComoraSenior Vice President818.742.1610 [email protected] BRE Lic #01312271

Documents

BURBANK OWNER/USER PURCHASE OPPORTUNITY...Burbank is the fifteenth most populous city in Los Angeles County. As of the 2010 census the population was 103,340. As of the 2010 census