Subject Property - LoopNet · Los Angeles Investment Trends 550 Stanford Ave CENTRAL LOS ANGELES INVESTMENT TRENDS Sales volume over the last 12 months is above the submarket’s

Subject Property

550 Stanford AveLos Angeles, CA 90013 - Central Los Angeles Ind

LOCATION

Distance to Airport: 17.8 mi

Distance to Seaport: 19.2 mi

Population 500 Mile Radius: 49,308,412



Distance to Rail Terminal: 1.6 mi

-

PROPERTY

Type: Warehouse Tenancy: -

Park: - Construction: -

RBA: 2,280 SF Column Spacing: -

Year Built/Renov: 1991 Truck Wells: -

Ceiling Height: - Rail Served: -

Docks: - Sprinklers: -

Drive Ins: - Power: -

Truck Court: - Cranes: -

Land Acres: 0.08 AC Levelators: -

Office: - Taxes: $1.40 (2017)

Parking: -

Features: -

12 MO. LEASING ACTIVITY SF

Subject Property:

Peers Total:

-

8,221

Peers Count: 17

Peers Avg: 483

Peer Submarkets Total: 7,444,659

Peer Submarkets Avg: 1,110

ASKING RENT PER SF

Current:

Last Quarter:

-

-

Year Ago: -

Peers: $1.56

Peer Submarkets: $1.11

VACANCY

Current:

Last Quarter:

0%

0%

Year Ago: 0%

Peers: 73.4%

Peer Submarkets: 3.5%

AVAILABLE SPACES

Currently No Available Spaces

1/22/2019Copyrighted report licensed to LAR Realty, Inc - 408886.

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Subject Property

RECORDED OWNER

Green Ethel H

LOS ANGELES, CA 90075

PO BOX 75367


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550 Stanford Ave

PREPARED BY

Luis Ruiz

Broker

Sale Comps

2,280 SF Industrial Warehouse

Los Angeles Investment Trends550 Stanford Ave

Sale Comparables

15Avg. Cap Rate

-Avg. Price/SF

$392Avg. Vacancy At Sale

27.3%SALE COMPARABLE LOCATIONS

SALE COMPARABLES SUMMARY STATISTICS

Sales Attributes Low Average Median High

Sale Price $775,000 $1,366,533 $1,300,000 $2,150,000

Price Per SF $197 $392 $428 $637

Cap Rate - - - -

Time Since Sale in Months 3.7 13.1 12.9 22.5

Property Attributes Low Average Median High

Building SF 1,296 3,490 3,722 4,560

Ceiling Height 9' 15'10" 14' 24'

Docks 0 0 0 4

Vacancy Rate At Sale 0% 27.3% 0% 100%

Year Built 1920 1959 1960 1995

Star Rating 1.1


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Property Name - Address Rating Yr Built Bldg SF Vacancy Price Price/SF

Property

Sale Date

Sale

Cap Rate

-1 1364 E 15th St1995 4,230 0% $1,628,000 $38510/1/2018 -

-2 651 Anderson St1926 1,416 100% $775,000 $5479/27/2018 -

-3 727 Gladys Ave1965 1,296 0% $825,000 $6378/13/2018 -

-4 541 Stanford Ave1953 3,526 0% $810,000 $2306/8/2018 -

-5 1301 N Broadway1960 3,854 0% $2,150,000 $5585/29/2018 -

-6 827 Kohler St1956 3,386 0% $1,045,000 $3094/26/2018 -

-7 3328 E 14th St1964 4,120 94.7% $810,000 $1973/23/2018 -

-8 724 E 10th St1986 4,000 0% $1,600,000 $40012/26/2017 -

-9 721 10th Pl1986 3,722 0% $1,600,000 $4308/16/2017 -

-10 1443 W Jefferson Blvd1948 2,920 0% $1,250,000 $4286/29/2017 -

-11 1515 E 20th St1956 4,560 100% $1,300,000 $2856/22/2017 -

-12 1847 Arapahoe St1925 3,105 0% $1,055,000 $3406/20/2017 -

-13 962 E 11th St1966 3,600 0% $1,650,000 $4585/30/2017 -

-14 805 E 14th Pl1984 4,210 0% $2,000,000 $4755/3/2017 -

-15 1314 W 12th St1920 4,400 100% $2,000,000 $4553/8/2017 -


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CENTRAL LOS ANGELES INVESTMENT TRENDS

Sales volume over the last 12 months is above thesubmarket’s historic average, but decelerating. Themarket price topped $300/SF in December 2018, about$70 more than the metro average, and cap rates slightlyfurther compress in 2018.

Increased online purchases of foods and groceries hasled to increased demand for cold storage facilities in thesubmarket, due to its proximity to residents in downtownand west LA. The largest sale of 2018 occurred whenLBA Realty purchased a cold storage facility neardowntown for $57.8 million ($215/SF) in March 2018 at a5.8% cap rate. The 267,000 SF asset was fully leased bymultiple tenants and had recently been renovated by theseller. The renovation included a new refrigerationsystem, new roofing, lighting, and 13,000 SF of office

space.

The booming Arts District is responsible for some of thelargest sales in the last two years. In June 2017,Healthcare of Ontario Pension Plan became a partner ofROW DTLA, which valued the conversion at over $700million. Additionally, in 2016 Harridge DevelopmentGroup acquired the LA Times printing plant at 2000 E.Eighth St. for $120 million. The 658,000 SF property wassold by Chicago-based Tribune Media at a 3.5% caprate and is fully leased to the LA Times through 2023.Locally based Harridge Development said it planned toredevelop the facility, specifically due to its location in theemerging Arts District. These sales further portray thevalue of conversions away from industrial propertieswithin the submarket, which may reduce the inventory.

SALES VOLUME & MARKET SALE PRICE PER SF


Page 6


LOS ANGELES INVESTMENT TRENDS

Transaction activity remains extremely busy in the LAindustrial market. Sales volume in 2018 surpassed $5billion—about 7% of the nation’s volume. Outsized rentgrowth in LA's industrial market has led to increasedliquidity, driving rapid cap rate compression and pricegains. Investors in the market have been motivated by amultitude of reasons exemplified in some of the largestrecent transactions.

Expansion is one motivating factor for recent sales. Forexample, Kite Pharma purchased a 160,000 SF flexbuilding in Santa Monica for $130 million ($815/SF) fromAgensys in April 2018. Gilead Sciences, the parentcompany of Kite Pharma, has been expandingthroughout the world, and Kite Pharma will occupy theentire three-story building, which is located near itsSanta Monica headquarters. The price paid for thisfacility is a record high for the market for a building thissize, and continued expansion of the biotech industry inLA could bode well for other flex properties.

Another motivating factor is the ability to secure a tenant.For example, Morgan Stanley purchased a new 500,000SF distribution center in Torrance for $102 million($200/SF), sold and developed by Bridge DevelopmentPartners. Morgan Stanley valued the asset's primelocation near the ports. While the property was vacant atthe time of sale, Morgan Stanley was able to secureNordstrom as a tenant soon after closing.

One unique sale involves a 94,000 SF warehouse in El

Segundo. NantHealth purchased the warehouse for $50million ($531/SF). NantHealth is affiliated with the LATimes, who recently moved its operations to theneighboring building. While redevelopment efforts havenot been disclosed, the high price for this building signalsthat it will likely no longer be used as a warehouse.

A more common motivation involves steady cash flow.Rexford Industrial, for example, purchased a 700,000 SFdistribution building in Commerce for $121 million($174/SF), sold and occupied by Supervalu. Supervalu, ahigh-quality and credit tenant, has the building leasedfor the next 20 years on a triple-net basis.

Acquiring aging industrial assets in LA to redevelop formultifamily or creative office use has also been a popularinvestor strategy this cycle. The Healthcare of OntarioPension Plan implemented that strategy when itpurchased a six-property portfolio Downtown for $328.1million in June 2017. Of the properties involved, two aremature industrial buildings that are being repurposed intoa mixed-use development known as ROW DTLA. Uponcompletion, ROW will feature more than 1.4 million SF ofcreative office and retail space.Similarly, in 2016 theHarridge Development Group acquired the LA TimesOlympic printing plant in Central LA for $120 million (at a3.5% cap rate). The facility is leased to the Timesthrough 2023 and is in Downtown’s burgeoning ArtsDistrict. More of these sales, but in smaller scale, areprevalent in the Westside Submarket.


Page 7


SALES VOLUME & MARKET SALE PRICE PER SF


Page 8

Sale Comps Details550 Stanford Ave

1 1364 E 15th StDistance to Subject Property: 1.1 Miles

PROPERTY

Type: Warehouse

Year Built/Re… 1995

RBA: 4,230 SF

Ceiling Height: 24'

Docks: None

Power: 400a/240v 3p 4w

Vacancy At S… 0%

Rail Served: None

Parking: 8 free Surface Spaces a…

SALE

Sale Type: Owner/User

Sale Date: 10/1/2018

Sale Price: $1,628,000

Price/SF: $385

CONTACTS

Buyer: Gary Primm

Seller: Paul & Kayci W Yun

Buyer Broker: Brookhollow Ventures,…

Listing Broker: Fox Industrial Realty - F…

-

TRANSACTION NOTES

The 4,230-square-foot industrial building sold for $1,628,000 or about $384.87 per square foot. We confirmed the sale price with the seller's brok…

2 651 Anderson StDistance to Subject Property: 1.1 Miles

PROPERTY

Type: Warehouse


RBA: 1,416 SF

Docks: None

Vacancy At S… 100%

Cranes: None


SALE



Time On Mar… 37 Days

Sale Price: $775,000

Price/SF: $547

CONTACTS

Buyer: 300 S. Anderson LLC

Seller: Cade O Nelson

Buyer Broker: produCRE - Karina Wuk…

Listing Broker: Kevin Windham - Kevin…

SALE TERMS

Financing: 1st Mortgage Bal/P…

TRANSACTION NOTES

This 1,416 SF industrial property came on the market 8/21/18, was in escrow for 30 days and sold on 9/27/18 with an initial asking price of 775,0…


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3 727 Gladys AveDistance to Subject Property: 0.3 Miles

PROPERTY

Type: Warehouse


RBA: 1,296 SF

Docks: None

Power: 700a 3p

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE





Price/SF: $637

CONTACTS

Buyer: Tom V Daele

Seller: Steven & Ellen Linder

Buyer Broker: Charles Dunn Company…

Listing Broker: Charles Dunn Company…

SALE TERMS

Financing: 1st Mortgage: JP Mo…

TRANSACTION NOTES

Comp information was confirmed by the broker that worked both sides of the deal. Unable to confirm dba for buyer.

4 541 Stanford AveDistance to Subject Property: 0.0 Miles

PROPERTY

Type: Warehouse


RBA: 3,526 SF

Ceiling Height: 16'


Vacancy At S… 0%

Parking: 5 free Covered Spaces…

SALE


Sale Date: 6/8/2018



Price/SF: $230

CONTACTS

Buyer: Ok H Choi

Seller: Russell & Panadda Wong

Buyer Broker: BRC Advisors - Brent K…

Listing Broker: Allstar Brokers Networ…

SALE TERMS

Sale Conditio… Building in Shell Co…

Financing: 1st Mortgage: US M…

TRANSACTION NOTES

3,526sf industrial building located in Los Angeles, CA. The property was occupied at the time sale. Per broker, the existing tenant plans to move…


Page 10




5 1301 N BroadwayDistance to Subject Property: 2.0 Miles

PROPERTY

Type: Warehouse


RBA: 3,854 SF

Ceiling Height: 12'

Docks: None

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE





Price/SF: $558

CONTACTS

Buyer: Ben Adam & Laurie Rut…

Seller: Esther Chin

Listing Broker: Century 21 Realty Mast…

SALE TERMS

Financing: 1st Mortgage: Midfir…

TRANSACTION NOTES

The sale was confirmed by the listing broker. Per broker, the new owner will occupy the building.

6 827 Kohler StDistance to Subject Property: 0.5 Miles

PROPERTY

Type: Warehouse


RBA: 3,386 SF

Docks: None

Vacancy At S… 0%

Rail Served: None

Parking: 2 Surface Spaces are a…

SALE




Price/SF: $309

CONTACTS

Buyer: Joseph Saghian

Seller: Hector O & Mabel Perez

SALE TERMS

Financing: 1st Mortgage: Midfir…

TRANSACTION NOTES

Attempts were made to contact the parties involved, but calls were not returned for questioning. Transaction information based on recorded cou…


Page 11





PROPERTY

Type: Warehouse


RBA: 4,120 SF

Docks: None

Power: 800a/4v 3p Heavy

Vacancy At S… 94.7%

Cranes: None

Rail Served: None

SALE

Sale Type: Investment



Price/SF: $197

CONTACTS

Buyer: Meridian Property Servi…

Seller: BAFFS (G.P.)

Buyer Broker: KW Commercial - Bruc…

Listing Broker: Dorin Realty Company,…

SALE TERMS

Sale Conditio… High Vacancy Prope…

Financing: 1st Mortgage Bal/P…

TRANSACTION NOTES

The brokers and Buyer confirmed that this property closed for $810,000 and that the property was in escrow for 90 days. There were no conditio…


PROPERTY

Type: Manufacturing


RBA: 4,000 SF

Ceiling Height: 14'

Docks: None

Power: 200a/120v 1p

Vacancy At S… 0%


SALE


Sale Date: 12/26/2017


Price/SF: $400

CONTACTS

Buyer: DTLA RENT CORP

Seller: Chew Trust, Gary A Lee…

Listing Broker: Quantum Associates - I…

SALE TERMS

Sale Conditio… Purchase By Tenant

Financing: 1st Mortgage: Habib…

TRANSACTION NOTES

724 E 10th Street is a 4,000 SF industrial building located in Los Angeles, CA. The subject property was purchased by an owner user on 12/26…


Page 12




9 721 10th PlDistance to Subject Property: 0.6 Miles

PROPERTY

Type: Warehouse


RBA: 3,722 SF

Docks: None

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE




Price/SF: $430

CONTACTS

Buyer: 721 East 10th LLC

Seller: Gary A Lee, Kirby B Le…

SALE TERMS

Sale Conditio… Purchase By Tenant

Financing: 1st Mortgage: Habib…

TRANSACTION NOTES

Despite attempts to get in touch with the principals in the deal, no sales data was able to be verified. All sales information is per public record.

10 1443 W Jefferson BlvdDistance to Subject Property: 3.4 Miles

PROPERTY

Type: Warehouse


RBA: 2,920 SF

Ceiling Height: 23'

Docks: None

Power: 200a

Vacancy At S… 0%

Parking: 10 free Surface Spaces…

SALE



Time On Mar… 2 Yrs 5 Mos


Price/SF: $428

CONTACTS

Buyer: Renee Bertrand

Seller: Stephen S Yeh

Buyer Broker: Halton Pardee + Partner…

Listing Broker: AB Real Estate - Brian…

SALE TERMS

Sale Conditio… 1031 Exchange, Hig…

Financing: Unknown Bal/Pmt: $…

TRANSACTION NOTES

This is the sale of an old theatre that was converted to an auto body shop and is now a warehouse. It sold with the adjacent parking lot. Comp i…


Page 13





PROPERTY

Type: Warehouse


RBA: 4,560 SF

Ceiling Height: 13'

Docks: 4 ext

Power: 400a/240v 3p


Cranes: None

Rail Served: None


SALE





Price/SF: $285

CONTACTS

Buyer: Morris Moussavieh

Seller: Universal Fish & Handli…

Buyer Broker: Park Industrial, Inc. - D…

Listing Broker: Park Industrial, Inc. - D…

SALE TERMS

Sale Conditio… High Vacancy Prope…

TRANSACTION NOTES

The buyer and seller could not be reached for comment on this transaction. The broker reported longer than normal escrow period of 1 year, the…

12 1847 Arapahoe StDistance to Subject Property: 2.5 Miles

PROPERTY

Type: Warehouse


RBA: 3,105 SF

Docks: None

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE





Price/SF: $340

CONTACTS

Buyer: Brandt Wax

Seller: Harrie W. Nielsen

Listing Broker: Marcus & Millichap - Fl…

SALE TERMS

Sale Conditio… 1031 Exchange

TRANSACTION NOTES

1847 Arapahoe Street is a 3,105 SF industrial building located in Los Angeles, CA. The property was purchased as an investment on 6/20/2017…


Page 14





PROPERTY

Type: Showroom


RBA: 3,600 SF

Ceiling Height: 18'

Docks: None

Vacancy At S… 0%

Cranes: None

Rail Served: None

SALE



Time On Mar… 1 Yr 1 Mo


Price/SF: $458

CONTACTS

Buyer: Shapour Fotoohi

Seller: Rahmahtollah Benji

Listing Broker: Trust & Estate Realty -…

SALE TERMS

Financing: 1st Mortgage: Pacifi…

TRANSACTION NOTES

The listing broker confirmed the price. No sale conditions. No 1031 exchange.

14 805 E 14th PlDistance to Subject Property: 1.0 Miles

PROPERTY

Type: Warehouse


RBA: 4,210 SF

Ceiling Height: 14'

Docks: None


Vacancy At S… 0%


SALE


Sale Date: 5/3/2017


Price/SF: $475

CONTACTS

Buyer: Bora Kwon

Seller: Kiho Song

Listing Broker: Quantum Associates -…

SALE TERMS

Financing: 1st Mortgage: Uniti…

TRANSACTION NOTES

On May 3, 2017, the industrial property located at 805 E 14th Pl, Los Angeles, CA was sold. Uniti Bank financed a loan of $1,739,000. Attempts…


Page 15




15 1314 W 12th StDistance to Subject Property: 1.8 Miles

PROPERTY

Type: Warehouse


RBA: 4,400 SF

Ceiling Height: 9'

Docks: None

Power: 800a/120-240v 3p 4w He…


Parking: Surface Spaces @ $0.0…

SALE


Sale Date: 3/8/2017


Price/SF: $455

CONTACTS

Buyer: Peyk International Inc

Seller: Jimmy Austin

Buyer Broker: District Realty Group -…

SALE TERMS

Financing: 1st Mortgage: Catha…

TRANSACTION NOTES

Neither the buyer nor the seller could be reached for comment on this transaction at this time. All information gathered is from public records.


Page 16


Sales Volume550 Stanford Ave

CENTRAL LOS ANGELES IND SUBMARKET SALES VOLUME IN SQUARE FEET

CENTRAL LA SUBMARKET CLUSTER SALES VOLUME IN SQUARE FEET

LOS ANGELES METRO SALES VOLUME IN SQUARE FEET


Page 17

Sales Pricing550 Stanford Ave

NATIONAL PRICE INDICES

REGIONAL INDUSTRIAL PRICE INDICES


Page 18

Sales Pricing550 Stanford Ave

PRICE PER SF INDEX

UNITED STATES INDUSTRIAL PRICE PER SF IN PAST YEAR LOS ANGELES INDUSTRIAL PRICE PER SF IN PAST YEAR

PRICE PER SF SUMMARY OF SALES IN PAST YEAR

Geography HighTop 25%AverageMedianBottom 25%LowTransactions

$10,813United States 18,991 $0.02 $21 $68 $74 $261

$5,665Los Angeles 875 $15 $112 $197 $181 $463

$1,123Central LA 114 $48 $124 $241 $149 $589

$1,123Central Los Angeles 94 $48 $138 $272 $147 $622

$637Selected Sale Comps 15 $197 $255 $428 $392 $554


Page 19

Cap Rates550 Stanford Ave

CAP RATE TRENDS

UNITED STATES LOGISTICS CAP RATES IN PAST YEAR LOS ANGELES LOGISTICS CAP RATES IN PAST YEAR

CAP RATE SUMMARY OF SALES IN PAST YEAR

Geography HighTop 25%AverageMedianBottom 25%LowTransactions

22.2%United States 2,108 1.3% 4.9% 7.0% 7.4% 10.2%

13.9%Los Angeles 104 3.0% 4.0% 5.0% 5.3% 7.2%

6.0%Central LA 3 4.6% N/A 5.8% 5.5% N/A

6.0%Central Los Angeles 2 5.8% N/A 5.9% 5.9% N/A

-Selected Sale Comps 0 - - - - -


Page 20

Buyers550 Stanford Ave

TOP LOS ANGELES INDUSTRIAL BUYERS PAST TWO YEARS

Purchased at least one asset in Central Los Angeles Ind submarket

Properties Bought

Company Name Bldgs VolumeSF

Properties Sold

SF BldgsVolume

Rexford Industrial 38 4,067,304 $712,229,435 5 207,531 $35,100,000

The Blackstone Group LP 51 7,436,195 $631,461,519 0 0 -

Prologis 21 1,884,388 $459,919,958 15 1,228,552 $361,117,457

Liberty Property Trust 4 840,040 $187,135,500 0 0 -

LBA Realty 10 1,262,016 $180,378,999 6 361,147 $33,600,386

Terreno Realty Corporation 20 886,574 $174,030,000 1 161,610 $25,300,000

Brookfield Asset Management, Inc. 9 1,086,808 $164,762,746 0 0 -

Duke Realty Corporation 4 953,843 $137,815,000 0 0 -

Morgan Stanley & Co. LLC 3 678,341 $131,692,648 0 0 -

Healthcare of Ontario Pension Plan 4 773,578 $119,253,974 0 0 -

SoftBank Group Corp 1 695,120 $105,623,068 1 695,120 $121,000,000

NantHealth, LLC 2 205,038 $92,887,000 0 0 -

Caleast Global Logistics, LLC 6 506,905 $92,118,946 0 0 -

Realterm US, Inc. 3 324,146 $83,660,000 0 0 -

The Niru Group 14 324,120 $80,668,883 0 0 -

AEW Capital Management 2 525,000 $80,284,197 1 60,923 $10,500,000

Elite Lighting Corp 2 447,480 $60,695,000 0 0 -

TIAA-CREF Investment Management, LLC 2 317,364 $54,150,000 1 210,710 $46,350,000

Hager Pacific Industrial Partners 10 311,336 $50,427,325 1 16,200 $9,082,000

Clarion Partners 2 144,902 $49,337,187 0 0 -

VEREIT Real Estate L.P. 1 762,850 $45,150,000 0 0 -

Victory Unlimited Construction 1 650,000 $43,300,000 0 0 -

Bridge Development Partners 2 501,496 $38,400,000 5 1,166,057 $209,630,000

NFN Investments 3 329,916 $38,200,000 0 0 -

Deutsche Bank AG 18 604,536 $36,850,001 2 525,000 $80,284,197

TYPES OF INDUSTRIAL LOS ANGELES BUYERS PAST TWO YEARS

Company Type Bldgs Billions Avg PricePrice/SF

Average Purchase

SF

Buying Volume

Private 1,080 21,569,128 $154 $3,093,979$3.3

REIT/Public 93 9,830,788 $179 $19,019,020$1.8

Institutional 108 8,148,319 $151 $11,463,009$1.2

User 220 6,868,395 $168 $5,275,217$1.2

Private Equity 66 8,227,652 $88 $11,082,445$0.7

$0 $0.9 $1.8 $2.7 $3.6


Page 21

Sellers550 Stanford Ave

TOP LOS ANGELES INDUSTRIAL SELLERS PAST TWO YEARS

Sold at least one asset in Central Los Angeles Ind submarket

Properties Sold

Company Name Bldgs VolumeSF

Properties Bought

SF BldgsVolume

Principal Financial Group, Inc. 75 11,197,785 $390,650,002 0 0 -

Prologis 15 1,228,552 $361,117,457 21 1,884,388 $459,919,958

Bridge Development Partners 5 1,166,057 $209,630,000 2 501,496 $38,400,000

CBRE Global Investors Ltd 5 1,095,837 $198,121,095 0 0 -

The Bascom Group 25 1,772,432 $187,278,884 0 0 -

USAA Real Estate Company 6 1,656,928 $175,628,206 0 0 -

Forever 21, Inc. 1 2,117,123 $165,660,000 0 0 -

Penwood Real Estate Investment Managem… 17 694,226 $144,028,883 1 70,050 $8,797,500

C.R. Laurence Co., Inc. 7 758,289 $139,362,746 0 0 -

Noran Company GP 6 711,679 $139,362,746 0 0 -

Atlas Capital Group LLC 6 951,413 $130,478,206 2 27,500 $5,737,550

Square Mile Capital Management LLC 5 894,078 $130,478,206 0 0 -

SoftBank Group Corp 1 695,120 $121,000,000 1 695,120 $105,623,068

Supervalu Inc. 4 749,332 $119,458,068 0 0 -

CalPERS 1 400,169 $92,700,000 0 0 -

Sun Life Financial Inc. 1 400,169 $92,700,000 0 0 -

CT Realty Investors 6 474,216 $83,001,959 0 0 -

Deutsche Bank AG 2 525,000 $80,284,197 18 604,536 $36,850,001

MetLife, Inc. 2 244,128 $68,400,000 0 0 -

The Carlyle Group 7 409,681 $66,974,984 0 0 -

Dedeaux Properties, LLC 5 335,624 $65,511,224 0 0 -

Rockefeller Group 3 426,896 $61,156,545 0 0 -

Crow Holdings 5 392,776 $58,193,592 0 0 -

Massachusetts Mutual Life Insurance Comp… 1 266,960 $57,821,000 1 12,375 $3,393,985

Panattoni Development Company, Inc. 1 143,436 $53,900,000 0 0 -

TYPES OF INDUSTRIAL LOS ANGELES SELLERS PAST TWO YEARS

Company Type Bldgs Billions Avg PricePrice/SF

Average Sale

SF

Selling Volume

Private 1,235 27,782,826 $163 $3,669,021$4.5

User 241 13,534,893 $147 $8,296,496$2

Institutional 163 22,249,521 $89 $12,258,235$2

REIT/Public 22 1,626,571 $261 $19,358,748$0.4

Private Equity 37 2,792,656 $106 $8,011,837$0.3

$0 $1.2 $2.4 $3.6 $4.8


Page 22

550 Stanford Ave

PREPARED BY

Luis Ruiz

Broker

Lease Comps

2,280 SF Industrial Warehouse

Lease Comps Summary550 Stanford Ave

Deals

7Asking Rent Per SF

$1.38Starting Rent Per SF

$1.04Avg. Months On Market

4LEASE COMPARABLES

SUMMARY STATISTICS

Rent Deals Low Average Median High

Asking Rent Per SF

Starting Rent Per SF

Effective Rent Per SF

Asking Rent Discount

TI Allowance

Months Free Rent

6

2

2

2

-

1

$0.95

$0.89

$0.86

0.8%

-

1

$1.38

$1.04

$1.03

3.1%

-

1

$1.13

$1.04

$1.02

3.6%

-

1

6.3%

-

1

$2.50

$1.18

$1.18

Lease Attributes Deals Low Average Median High

Months on Market

Deal Size

Lease Deal in Years

Floor Number

7

7

5

7

1

1,500

12.0

1

4

3,380

33.6

1

2

4,000

36.0

1 1

12

4,221

60.0


Page 24

Lease Comps Summary550 Stanford Ave

Property Name - Address Rating SF Leased Floor Sign Date Rent Rent Type

Lease

Type

Rents

-1 4336 E Washington Blvd4,221 1st 11/1/2018 $2.50/nnn AskingNew

-2 547 E 31st St4,000 1st 5/24/2018 $1.13/mg AskingNew

-3 755 New High St1,500 1st 7/2/2017 $1.13/ig AskingNew

-4 1204 Paloma St2,300 1st 1/25/2017 - -New

-5 775 E 14th St4,040 1st 11/28/2016 $1.18/mg EffectiveNew

-6 3215 E Pico Blvd3,600 1st 8/2/2016 $0.86/ig EffectiveNew

-2 547 E 31st St4,000 1st 6/1/2016 $1.13/mg AskingNew


Page 25

http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=PPW&redirUrl=%2Fredir%2Fdefault.aspx%3Feid%3D10885986%26ProductMode%3DProperty%26SelectedTab%3Dlease%26external%3D1







Lease Comps Details550 Stanford Ave

1 4336 E Washington BlvdCommerce, CA 90023 - Vernon Ind Submarket

RENTS

Asking Rent: $2.50/NNN

PROPERTY EXPENSES

Taxes: $1.50/SF (2017)

LEASE

SF Leased: 4,221 SF

Sign Date: Nov 2018

Space Use: Industrial

Lease Type: Direct

Floor: 1st Floor

LEASE TERM

Start Date: Jan 2019

Expiration Date: Dec 2023

Lease Term: 5 Years

TIME VACANT

Date Vacated: Aug 2018

Date Occupied: Jan 2019

Months Vacant: 5 Months

TIME ON MARKET

Date On Market: Aug 2018

Date Off Market: Nov 2018

Months on Market: 3 Months

LEASING REP

3 Hanger Supply

3355 El Segundo Blvd

Hawthorne, CA 90250-4841

Jasmine Yadegar (310) 679-8800

PROPERTY

Rentable Area: 4,221 SF

Stories: 1

Floor Size: 4,221 SF

Ceiling Height: 18'

Vacancy at Lease: 100%

Land Acres: 0.19

Property Type: Industrial

Status: Built 1950

Tenancy: -

Class: C

MARKET AT LEASE

Vacancy Rates 2018 Q4 YOY

0.9%

0.5%

100%Current Building 100%

Submarket 1-3 Star

Market Overall 2.5%

3.6%

Same Store Asking Rent/SF 2018 Q4 YOY

5.2%

5.4%

Current Building $2.50

Submarket 1-3 Star

Market Overall $1.05

$0.87

-

Submarket Leasing Activity 2018 Q4 YOY

1.7

1.3%12 Mo. Leased SF 3,822,506

Months On Market 3.2


Page 26



2 547 E 31st StLos Angeles, CA 90011 - Central Los Angeles Ind Submarket

TENANT

Tenant Name: Pink Ripple, Inc

RENTS

Asking Rent: $1.13/MG

PROPERTY EXPENSES

Taxes: $2.23/SF (2018)

LEASE

SF Leased: 4,000 SF

Sign Date: May 2018


Lease Type: Direct

Floor: 1st Floor

LEASE TERM

Start Date: Jun 2018

TIME VACANT

Date Vacated: Apr 2018

Date Occupied: Jun 2018


TIME ON MARKET

Date On Market: Mar 2018

Date Off Market: May 2018


LEASING REP

BRC Advisors

700 S Flower St

Los Angeles, CA 90017-4101

Lex Yoo (213) 943-1844

Peter Byun (213) 788-3575

Brent Koo (213) 943-1846

PROPERTY


Stories: 1


Vacancy at Lease: 0.0%

Land Acres: 0.12


Status: Built 1972

Tenancy: Multi

Class: C

Construction: Masonry

Parking: 4 free Surface Spac…

MARKET AT LEASE


0.3%

0.5%

0.0%Current Building 0.0%

Submarket 1-2 Star

Market Overall 2.7%

3.1%


7.7%

7.7%

0.0%Current Building $1.13

Submarket 1-2 Star


$1.28


0.4

12.0%12 Mo. Leased SF 3,356,979



Page 27



3 755 New High StLos Angeles, CA 90012 - Central Los Angeles Ind Submarket

RENTS

Asking Rent: $1.13/IG

PROPERTY EXPENSES

Taxes: $1.82/SF (2017)

LEASE

SF Leased: 1,500 SF

Sign Date: Jul 2017


Lease Type: Direct

Floor: 1st Floor

LEASE TERM

Start Date: Aug 2017

Lease Term: 2 Years

TIME VACANT

Date Vacated: May 2017

Date Occupied: Aug 2017


TIME ON MARKET

Date On Market: May 2017

Date Off Market: Jul 2017


LEASING REP

Louie Properties

5936 Temple City Blvd

Temple City, CA 91780

Ching Louie (626) 291-5555

PROPERTY


Stories: 1



Land Acres: 0.08


Status: Built 1956

Tenancy: Single

Class: C



MARKET AT LEASE


0.8%

0.3%


Submarket 1-2 Star

Market Overall 2.2%

3.0%


8.3%

8.8%


Submarket 1-2 Star


$1.21

-


1.1

12.6%12 Mo. Leased SF 3,195,727



Page 28



4 1204 Paloma StLos Angeles, CA 90021 - Central Los Angeles Ind Submarket

PROPERTY EXPENSES

Taxes: $4.98/SF (2018)

LEASE

SF Leased: 2,300 SF

Sign Date: Jan 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 101

LEASE TERM

Start Date: Feb 2017

Lease Term: 1 Year

TIME VACANT

Date Vacated: Sep 2016

Date Occupied: Feb 2017


TIME ON MARKET

Date On Market: Sep 2016

Date Off Market: Jan 2017


LEASING REP

Falcon California Investment Inc.

807-813 E 12th St, Suite 401

Los Angeles, CA 90021

Shawn Zackary (213) 387-2974 X207

PROPERTY


Stories: 2


Ceiling Height: 24'


Land Acres: 0.13


Status: Built 1997

Tenancy: Multi

Class: C



MARKET AT LEASE


0.1%

0.2%


Submarket 1-2 Star

Market Overall 2.3%

3.0%


8.1%

8.7%

Current Building -

Submarket 1-2 Star


$1.16

-


0.1

0.4%12 Mo. Leased SF 2,791,309



Page 29



5 775 E 14th StLos Angeles, CA 90021 - Central Los Angeles Ind Submarket

RENTS


Starting Rent: $1.18/MG

Effective Rent: $1.18/MG

Escalations: 5% Annual

CONCESSIONS AND BUILDOUT

Asking Discount: 0.84%

PROPERTY EXPENSES

Taxes: $4.43/SF (2011)

LEASE

SF Leased: 4,040 SF

Sign Date: Nov 2016


Lease Type: Direct

Floor: 1st Floor

LEASE TERM

Start Date: Dec 2016

Expiration Date: Dec 2019

Lease Term: 3 Years

TIME VACANT

Date Vacated: Nov 2016

Date Occupied: Dec 2016

Months Vacant: 1 Month

TIME ON MARKET

Date On Market: Nov 2016

Date Off Market: Nov 2016


LEASING REP

DAUM Commercial Real Estate Services

801 S Figueroa St, Suite 600


Sehyung Kim (213) 270-2270

PROPERTY


Stories: 1


Ceiling Height: 12'


Land Acres: 0.11


Status: Built 1964

Tenancy: Single

Class: C

Construction: Reinforced Concrete


MARKET AT LEASE


0.1%

0.1%


Submarket 1-3 Star

Market Overall 2.3%

3.3%


8.0%

8.4%


Submarket 1-3 Star


$1.14

-


0.8

12.4%12 Mo. Leased SF 2,973,023



Page 30



6 3215 E Pico BlvdLos Angeles, CA 90023 - Vernon Ind Submarket

RENTS

Asking Rent: $0.95/IG

Starting Rent: $0.89/IG

Effective Rent: $0.86/IG

Escalations: 3% Annual

CONCESSIONS AND BUILDOUT

Asking Discount: 6.32%

Mo. Free Rents: 1 Month

Buildout Status: Full Build-Out

PROPERTY EXPENSES

Taxes: $1.92/SF (2017)

LEASE

SF Leased: 3,600 SF

Sign Date: Aug 2016


Lease Type: Direct

Floor: 1st Floor

LEASE TERM

Start Date: Sep 2016

Expiration Date: Aug 2019

Lease Term: 3 Years

TIME VACANT

Date Vacated: Aug 2016

Date Occupied: Sep 2016

Months Vacant: 1 Month

TIME ON MARKET

Date On Market: Jun 2016

Date Off Market: Aug 2016


LEASING REP

Kidder Mathews

601 S Figueroa St, Suite 2700


William L. Joseph (323) 727-1144 X119

PROPERTY


Stories: 1


Ceiling Height: 12'


Land Acres: 0.10


Status: Built 1969

Tenancy: Single

Class: C



MARKET AT LEASE


0.2%

0.3%


Submarket 1-2 Star

Market Overall 2.4%

5.8%


8.6%

8.6%


Submarket 1-2 Star


$0.75


0.1

38.2%12 Mo. Leased SF 4,522,592



Page 31



2 547 E 31st StLos Angeles, CA 90011 - Central Los Angeles Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $2.23/SF (2018)

LEASE

SF Leased: 4,000 SF

Sign Date: Jun 2016


Lease Type: Direct

Floor: 1st Floor

Suite: 541

LEASE TERM

Start Date: Jul 2016

Lease Term: Month-To-Month

TIME VACANT

Date Vacated: Jun 2015

Date Occupied: Jul 2016


TIME ON MARKET

Date On Market: Jun 2015

Date Off Market: Jul 2016


LEASING REP

Colliers International

5100 S Eastern Ave, Suite 100

Commerce, CA 90040-2938

Brent Koo (213) 943-1846

PROPERTY


Stories: 1


Vacancy at Lease: 100%

Land Acres: 0.12


Status: Built 1972

Tenancy: Multi

Class: C



MARKET AT LEASE


0.8%

0.6%

0.0%Current Building 100%

Submarket 1-2 Star

Market Overall 2.4%

3.0%


8.5%

8.6%


Submarket 1-2 Star


$1.10


0.5

2.7%12 Mo. Leased SF 2,803,673



Page 32


Documents

Subject Property - LoopNet · Los Angeles Investment Trends 550 Stanford Ave CENTRAL LOS ANGELES INVESTMENT TRENDS Sales volume over the last 12 months is above the submarket’s