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JLL has been exclusively retained to present 7083 Hollywood Boulevard.

Investment highlights:

  • 97 percent leased, 82,000-square-foot, six-story office building in L.A.’s premier ‘live, work, play’ submarket
  • A+ location along the famed Hollywood Boulevard, just off La Brea Avenue with views of the Hollywood Hills
  • Amenity-rich environment just blocks from the Hollywood & Highland Entertainment Center, the famed Dolby Theatre, the Chinese Theatre, the hip and historic Roosevelt Hotel and the Hollywood and Highland redline metro stop
  • In the middle of the Hollywood tech, media and entertainment explosion that has improved Hollywood’s demographic make-up to become one of the best in the L.A. basin
  • Nearly 50 percent office rent growth in Hollywood over the last five years, current class A rents in Hollywood are averaging $4.45 per square foot, some of the highest rents in the L.A. market
  • 35 percent of the Hollywood’s population is made up by the Millennial class, compared to just percent across the L.A. basin
  • Hollywood multifamily rents increased nearly 15 percent in 2016, driven by the influx of high-income knowledge workers
  • Approximately $6 billion of development and redevelopment projects have been completed, are under construction or are planned/proposed in Hollywood since 2015, mostly consisting of new, luxury multifamily, hotels and mixed-use projects
  • The property’s rents are currently 20 percent below market
  • With over 50 percent of tenancy rolling in the first three years, providing an investor the opportunity to mark rents to market in the near-term
  • Opportunity to add value through a light capital refresh to the exterior and common areas of the building
  • Building systems and back-of-the-house items have received over $1 million of upgrades since 2010
  • Lobby renovation completed in 2014 and upgraded corridors and restrooms completed on all but one floor
  • 2.4:1,000 parking ratio with excellent ingress/egress in the connecting parking structure
  • The building’s garage generates strong in-place parking revenue, yet new management has the opportunity to boost parking revenue through enhanced weekend and evening programming/marketing

Jon Lange
SVP, So Cal-Capital Markets

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