Hollywood Media District

Highlights:

• Prime Hollywood Media District location near major studios and entertainment in a high-barrier market.
• Over 1M SF of new development driving gentrification, boosting property values and long-term area growth.
• Flexible zoning allows for office, retail, and industrial use with a campus-style layout ideal for multi-use or income-generating potential.
• Rare signalized hard corner location with valuable on-site parking in a highly constrained media district.
• Rare in-place pole signage offers high visibility and added value in a district where new approvals are hard to obtain.
• Densely populated area with 1M residents within 5 miles and a strong $125K AHHI, ideal for attracting a skilled local workforce.

Description:

OWNER/USER OR INVESTOR OPPORTUNITY
SHORT TERM LEASES IN PLACE WITH NO OPTIONS FOR ADDED INCOME - INQUIRE WITH LISTING AGENT
Faris Lee Investments is pleased to bring to market an opportunity to acquire an
owner/user or investment property in the heart of the Hollywood Media District at
950 N. Cahuenga Blvd., Los Angeles, CA. The property is flanked by many prominent
studios such as Paramount Pictures and Quixote. While the area has been ground
zero for the creative and production side of the movie industry for decades, of late,
it is experiencing a high level of gentrification. More than 1 million square feet of new
development or repurposing is currently under construction or planned within the
Hollywood Media District (see page 8 herein). The property is within walking distance
to the Hollywood/Cahuenga corridor restaurants as well as having easy access to
major thoroughfares including Santa Monica Blvd., Sunset Blvd., Hollywood (101)
Freeway, the Hollywood and Vine station, and the Metro.
Given the flexible zoning of the property, the owner/user will be able to operate
various uses such as retail, office, and light industrial. The building includes such
amenities as high ceilings throughout, dock-high truck well loading, and 4 ground
level roll up doors. The flexible zoning and 3 separate buildings in this one location
will create needed synergy for businesses looking to operate multiple divisions under
one roof. Aside from the Hollywood Media District location, the ability to acquire a
hard corner parcel at a signalized intersection is an extremely rare opportunity.
The immediate area is densely populated (over 1 million residents within a 5-mile
radius) with average annual household income in excess of $125,000 providing an
ample and educated labor base for any employer. The property is in a central location
to the surrounding cities of West Hollywood, Beverly Hills, and Hancock Park.

Los Angeles often referred to by its initials L.A., is the largest city in the U.S. state of California and 2nd largest in the country with a population of 3,849,297. Los Angeles is the seat of Los Angeles County, which is the most populous county in the US. It is known for its Mediterranean climate, ethnic and cultural diversity, Hollywood film industry, and sprawling metropolitan area. The city of Los Angeles lies in a basin in Southern California, adjacent to the Pacific Ocean extending through the Santa Monica Mountains and into the San Fernando Valley.
Los Angeles is one of the most dynamic economies in the world, with a fast-growing and immense high-tech industry, world leading creative economy, tremendous strength in aerospace and advanced transportation, the nation’s largest manufacturing base, the nation’s largest international trade industry, and a rapidly increasing amount of venture capital investment in startups. Los Angeles incorporates some of the busiest airports and ports in the world. Los Angeles International Airport (LAX) is the fourth busiest airport in the world and second busiest in the United States, based on number of passengers. LAX ranks 10th in the world and fourth in the U.S. in air cargo tonnage processed, with more than 2.4 million tons of freight and mail processed in 2018 valued at more than $86.9 billion. In 2014, LAX generated 620,000 jobs in Southern California with labor income of $37.3 billion and economic output of more than $126.6 billion. This activity added $6.2 billion to local and state revenues. The port of Los Angeles is the busiest port in the United States with the port of Long Beach being the 2nd-busiest. Together these ports move around $500 billion in cargo each year and support nearly 1 million jobs in the surrounding five-county Southern California region. These ports account for 74% of the West Coast’s market share.