6432 SANTA MONICa blvd - LoopNet
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6432 SANTA MONICa blvd
Exclusively Listed By: Brandon Michaels Matthew Luchs Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group COO of The Brandon Michaels Group Tel: 818.212.2794 Tel: 818.212.2727 brandon.michaels@marcusmillichap.com matthew.luchs@marcusmillichap.com CA License: 01434685 CA License: 01948233 www. BrandonMichaelsGroup .com www. BrandonMichaelsGroup .com 2 2
04
Executive
12
Property
16
Area
24
Financial &
Summary Overview Overview Comparables
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HOLLYWOOD
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64
SANTA M
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GRIFFITH OBSERVATORY
Ca
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Bl
vd
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432
MONICa blvd
Santa Monica Blvd
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EXECUTIVE SUMMARY 6
THE OFFERING
A value-add two-story mixed-use Retail and Creative Office Building
ideally located on the SW signalized corner of Santa Monica
Boulevard and Cole Avenue in the heart of Hollywood, CA
The Brandon Michaels Group of Marcus & Millichap has been
selected to exclusively market 6432 Santa Monica Boulevard, a
32,500 square foot mixed-use retail and office property ideally
located on the southwest signalized corner of Santa Monica
Boulevard and Cole Avenue in the heart of Hollywood, CA.
6432 Santa Monica Boulevard is ideally positioned in the heart of the unique opportunity to acquire a fully stabilized asset at a low cost-
Hollywood, CA sub-market, ideally suited for creative workspace, per-foot with tremendous future upside through increasing rents over
studio and production space, and retail. The property is situated on time as leases roll. There is a total of approximately 17,500 square feet
a 22,691 square-foot lot zoned LAMR1 with gated parking offering of ground floor retail space and 15,000 square feet of second story
30 striped surface parking spaces, a parking ratio of 1.08 per 1,000 office space. Current rents average $1.11 per square foot, with ground
square feet. This 1951 construction building has been well maintained, floor retail rents averaging $1.14 per SF, and second story office rents
including plenty of natural light from large windows along three sides averaging $1.08 per square foot.
and skylights throughout, high ceilings, and beautiful hardwood floors.
The property is ideally located in a walker’ s paradise, with a walk score 6432 Santa Monica Boulevard is situated within the Hollywood Media
of 95, and benefits from excellent visibility and frontage along both District as well as a State Enterprise Zone, and surrounded by a variety
Santa Monica Boulevard and Cole Avenue. of production companies and studios including Paramount Studios,
Red Studios, MILK, Television Center, Line 204 Studios, BLT Studios,
This multi-tenant complex is currently 100% occupied by a variety of and many more. Hollywood is experiencing explosive growth, with
businesses catering to it’s central Hollywood location, including large multiple large-scale developments underway or in-planning for
rentable studio space, creative management, casting, production multifamily, retail, office and hospitality projects. There are over 5,332
equipment rentals, photography studios, and more. Lease terms are residential units currently in development in the immediate sub-
staggered, with approximately 70% of the gross leasable area expiring market.
within the next three years. This opportunity offers an investor a
7
INVESTMENT VALUE-ADD SIGNALIZED CORNER MIXED-
USE RETAIL & CREATIVE OFFICE BUILDING
HIGHLIGHTS
IN THE HEART OF HOLLYWOOD, CA
• Current rents are significantly below market, creating
an unrivaled value-add opportunity in the heart of
Hollywood, CA
• Current Rents average $1.11 per square foot
• Ground floor retail rents average $1.14 per square foot
• Second story creative office rents average $1.08 per
square foot
• 100% Current Occupancy
• 70% of the current leases are expiring within the next
three years
PRIME HOLLYWOOD, CA LOCATION
• Prime Hollywood, CA Signalized Corner Location
• SW signalized corner of Santa Monica Boulevard and Cole Avenue
• Just minutes from Paramount Pictures, Sunset Gower Studios, and
a host of other Studios
• Centralized Hollywood, CA location with direct freeway access
• Excellent visibility and frontage
• Just minutes to world-renowned Sunset Boulevard and the
Hollywood Walk of Fame
8
HOLLYWOOD, CA IS A WORLD-
RENOWNED SOUTHERN CALIFORNIA
SUB-MARKET EXPERIENCING
TREMENDOUS GROWTH
• Hollywood is a larger-than-life symbol of the
entertainment business
• Millions of tourists visit Hollywood, CA annually,
drawn to its iconic landmarks, world-renowned
nightlife and eclectic mix of dining and
shopping options
• Significant residential, office, retail and hotel
development is occurring in the immediate area
• Over 5,332 residential units currently under
development
• Hollywood is home to some of the world’s
most prominent entertainment and production
companies such as Netflix, Viacom, Live Nation,
CNN, and many others
DENSE IMMEDIATE SUB-MARKET
WITH STRONG UNDERLYING
DEMOGRAPHICS
• Over 43,000 people within one mile of the
subject property and close to one million
people located within five miles
• Strong average household income of $82,127
within one mile and $93,000 within three miles
• Over 26,000 households within one mile and
over 416,000 households within five miles
• Vibrant residential market, with a median single
family home value of almost $1 million in the
immediate area
9
HOLLYWOOD
e
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Wilc
Sa
nta
Mo
nic
aB
lvd
6432
SANTA MONICa blvd
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Av
C ole
10Price $14,000,000
Building Size 32,500
Price/SF (Building) $431
Lot Size 22,692
PROPERTY Price/SF (Land) $617
2.74%
SUMMARY
Current CAP Rate
Pro Forma CAP Rate 6.62%
Current Occupancy 100%
A value-add two-story mixed-use Retail and Creative Office Parking 30 Spaces
Building ideally located on the SW signalized corner of
Santa Monica Boulevard and Cole Avenue in the heart of Walk Score Walker’s Paradise (95)
Hollywood, CA
Year Built 1951
Opportunity Zone Yes
Zoning MR1
APN Number 5533-014-001
11PROPERTY OVERVIEW 12
LOCATION
6432 Santa Monica Boulevard
Los Angeles, CA 90038
SITE
The property is located at the SW intersection
PROPERTY
of Santa Monica Boulevard and Cole Avenue.
BUILDING SIZE
DETAILS
32,500 SF
LOT SIZE
22,692 SF
PARKING
30 Parking Spaces; A Parking Ratio of 0.92
Parking Spaces per 1,000 SF
ZONING
MR1
TRAFFIC COUNTS
Santa Monica Blvd: 36,000 Vehicles Per Day
13interior photos 14
CENTURY CITY
CARTHAY CIRCLE WEST
MIRACLE MILE HOLLYWOOD
6432
SANTA MONICa blvd
Blvd
n ica
Mo
Co nta
lve Sa
Av
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15AREA OVERVIEW 16
HOLLYWOOD, CA Hollywood, CA is a larger-than-life symbol of the
entertainment business that beckons tourists with
its iconic landmarks, world-renowned nightlife, and
historic dining and shopping options, currently
experiencing explosive growth and tremendous
development with over 5,332 residential units
currently under construction
Hollywood, CA is a larger-than-life symbol of the entertainment units currently under development, as well as a host of production
business, Hollywood beckons tourists with landmarks like TCL Chinese studios, class A office buildings, retail, and high-end hotels. The
Theatre and star-studded Walk of Fame. Highlights include Paramount sub-market benefits from a dense immediate population, with over
Pictures, historic music venues like the Hollywood Bowl, and Dolby 45,000 people within one mile of the subject property, and close to a
Theatre, home of the Oscars. Scenesters can choose from improv million people within five miles. Average household income is north of
comedy clubs, retro-cool bars and velvet-roped nightclubs. $82,000 within one mile and climbs to over $92,000 within three miles.
The median single family home value is $943,000 within one mile and
Hollywood is experiencing explosive growth and is home to some of $1,028,949 within three miles.
the world’s most prominent entertainment and production companies
such as Netflix, Viacom, Live Nation, CNN, and many others. 6432 Santa
Monica Boulevard is situated minutes from Paramount Pictures, RED
Studios, Television Center, Sunset Las Palmas Studios, Raleigh Studios,
and many other industry hubs.
A number of the most expansive development projects in Southern
California are slated for the immediate area, with over 5,332 residential
17HOLLYWOOD & HIGHLAND
1.3 Miles from the Subject Property
CLOSE PROXIMITY
to Popular Attractions
6432 Santa Monica Boulevard is situated minutes from Paramount
Pictures, RED Studios, Television Center, Sunset Las Palmas Studios,
Raleigh Studios, and many other industry hubs. A larger-than-life
symbol of the entertainment business, Hollywood beckons tourists
with landmarks like TCL Chinese Theatre and star-studded Walk of
Fame. Highlights include Paramount Pictures, historic music venues
like the Hollywood Bowl, and Dolby Theatre, home of the Oscars.
HOLLYWOOD BOWL
1.9 Miles from the Subject Property
HOLLYWOOD WALK OF FAMES
1.0 Miles from the Subject Property
MADAME TUSSAUDS HOLLYWOOD
1.5 Miles from the Subject Property
18HOLLYWOOD &
HIGHLAND
Hollywood & Highland is a shopping center and entertainment complex at
Hollywood Boulevard and Highland Avenue in the Hollywood district in Los
Angeles. The 387,000 SF center also includes TCL Chinese Theatre (formerly
Grauman's Chinese Theatre, and Mann's Chinese Theatre) and the Dolby
Theatre (formerly known as the Kodak Theatre), home to the Academy
Awards. The historic site was once the home of the famed Hollywood Hotel.
Located in the heart of Hollywood, along the Hollywood Walk of Fame, it is
among the most visited tourist destinations in Los Angeles.
The complex sits just across Hollywood Blvd. from the El Capitan Theatre and
offers views of the Hollywood Hills and Hollywood Sign to the north, Santa
Monica Mountains to the west and downtown Los Angeles to the east. The
centerpiece of the complex is a massive three-story courtyard inspired by
the Babylon scene from the D.W. Griffith film Intolerance. The developer of
the shopping center built parts of the archway and two pillars with elephant
sculptures on the capitals, just as seen in the film, to the same full scale. It
gives visitors an idea of how large the original set must have been.
19DEVELOPMENT PROJECTS CURRENTLY UNDER CONSTRUCTION
Development Pipeline Map
Subject Property
Under Construction
Recently Completed 35 4 23
14 13 12
33 24 6
25 17
27 5 36
19
1
9 8 12
13
10 7 30
6901 Santa Monica Boulevard 5570 Melrose Avenue 1410 North Highland Avenue 1136-1142 North La Cienega
The project calls for the construction The project consists of a five-story The project is rising from a property Boulevard
of a seven-story building that will building featuring 52 apartments at 1410 N. Highland Avenue, where The project, now under construction
feature 231 apartments - including above 5,500 square feet of ground- it replaced a auto repair shop. Plans just south of Fountain Avenue at 1136-
15 affordable units at the very low- floor commercial space. Parking for 76 call for the construction of a six-story 1142 N. La Cienega Boulevard, calls
income level - with 15,000 square vehicles is located in a subterranean edifice containing 49 apartments for the construction of a new five-story
feet of ground-floor retail space garage. above 800 square feet of ground-floor edifice containing 23 apartments
and a partially-subterranean parking commercial space and parking for 96 above two levels of subterranean
structure for 390 vehicles. vehicles. parking.
20PROPERTY NAME DEVELOPER UNITS STORIES START YEAR FINISH YEAR
1 1136-1142 North La Cienega Blvd 1136-1142 N La Cienega Blvd, West Hollywood, CA 90069 23 5 2021 2022
2 1201 Myra Avenue 1201 Myra Ave, Los Angeles, CA 90029 California Landmark Group 100 6 2020 2022
3 1276 N Western Avenue 1276 N Western Ave, Los Angeles, CA 90029 Wiseman Residential 75 6 2019 2021
4 1317-1325 N New Hampshire Ave 1317-1325 N New Hampshire Ave, Los Angeles, CA 90027 Skya Ventures 92 7 2021 2022
5 1410 N Highland Ave 1410 N Highland Ave, Los Angeles, CA 90028 ELK Development/Sixty West Funds 49 6 2021 2022
6 1901 Blake 1901 W Blake Ave, Los Angeles, CA 90039 Uncommon Developers 52 3 2020 2022
7 5570 Melrose Ave 5570 Melrose Ave, Los Angeles, CA 90038 Bolour Associates 52 5 2019 2021
8 6901 Santa Monica Blvd 6901 Santa Monica Blvd, Los Angeles, CA 90038 Onni Group 231 7 2019 2022
9 7617 Santa Monica Blvd 7617 Santa Monica Blvd, West Hollywood, CA 90046 LaTerra Development 71 4 2020 2022
10 7673 Melrose Ave 7673 Melrose Ave, Los Angeles, CA 90046 Private Developer 24 3 2019 2022
11 9001 Santa Monica Blvd 9001 Santa Monica Blvd, West Hollywood, CA 90069 GPI Companies 46 5 2020 2022
12 AVA Hollywood at La Pietra Place 6677 Santa Monica Blvd, Los Angeles, CA 90038 AvalonBay Communities 695 7 2016 2021
13 Alta Ink 5750 Hollywood Blvd, Los Angeles, CA 90028 Wood Partners 161 7 2018 2021
14 Archer Hollywood 1718 N Las Palmas Ave, Los Angeles, CA 90028 Jamison Properties 224 6 2018 2021
15 Asteras Kings 838 N Kings Rd, West Hollywood, CA 90069 Darmos Properties 25 4 2018 2021
16 Hanover Hollywood 6200 Sunset Blvd, Los Angeles, CA 90028 Hanover Company 270 7 2020 2022
17 Hollyhill 4531 Hollywood Blvd, Los Angeles, CA 90027 Chandler Pratt & Partners 202 5 2019 2022
18 Inspire Hollywood 1522-1538 S Cassil Pl, Los Angeles, CA 90028 Bond Companies 200 8 2020 2022
19 Jardine 6390 De Longpre Ave, Los Angeles, CA 90028 Kilroy Realty Corporation 193 20 2019 2021
20 La Vida Melrose 4864 Melrose Ave, Los Angeles, CA 90029 Private Developer 51 6 2019 2021
21 Los Feliz I 4900 Hollywood Blvd, Los Angeles, CA 90027 LaTerra Development 150 6 2019 2022
22 Los Feliz II 4850 Hollywood Blvd, Los Angeles, CA 90027 LaTerra Development 150 6 2020 2022
23 Magnolia 4914 Melrose Ave, Los Angeles, CA 90029 Six Peak Capital 42 7 2020 2022
24 Modera Argyle 1546 N Argyle Ave, Los Angeles, CA 90028 Mill Creek Residential 276 7 2021 2023
25 Modera Hollywood 6775 Selma Ave, Los Angeles, CA 90028 Mill Creek Residential 248 6 2017 2020
26 St Andrews Lofts 1365-1375 N St Andrews Pl, Los Angeles, CA 90028 Holland Partner Group 185 8 2021 2023
27 Sunset Rise 1446 N Detroit St, Los Angeles, CA 90046 Wiseman Residential 60 5 2017 2021
28 The 1860 1860 N Western Ave, Los Angeles, CA 90027 Dynamic Developments 87 5 2021 2022
29 The Allesandro Street 2957-2965 Allesandro St, Los Angeles, CA 90039 Private Developer 112 3 2020 2023
30 The Empire at Fairfax 1001 N Fairfax Ave, West Hollywood, CA 90046 Empire Property Group 34 5 2019 2022
31 The Fitz on Fairfax 1250 N Fairfax Ave, West Hollywood, CA 90069 Palisades 53 5 2018 2021
32 The Lark 3160 Riverside Dr, Los Angeles, CA 90027 Bolour Associates 65 5 2018 2021
33 The Rise Hollywood 1331 N Cahuenga Blvd, Los Angeles, CA 90028 Cal-Coast 369 7 2017 2021
34 The Sunset Hue 6630 Sunset Blvd, Los Angeles, CA 90028 35 6 2017 2021
35 The Sunset Lofts 7500 Sunset Blvd, Los Angeles, CA 90046 Faring 236 5 2020 2023
36 Vine in Los Angeles 901 N Vine St, Los Angeles, CA 90038 Vine Equity Capital LLC 76 5 2018 2021
37 Wallace on Sunset 6240 Sunset Blvd, Hollywood, CA 90028 Essex Property Trust Inc 200 7 2017 2021
38 ZEN Hollywood 1825 N Las Palmas Ave, Los Angeles, CA 90028 Jeff Greene 118 6 2016 2021
TOTAL 5,332 231
21HOLLYWOOD, CA DEMOGRAPHICS
MEDIAN AGE
36
HOLLYWOOD’S
54% 46%
TOTAL POPULATION
61,469 MALE FEMALE
EDUCATION
26% 22% 6% 35%
Some High School Some College Associate Degree Bachelor’s degree
22DEMOGRAPHICS BY RADIUS
1-MILE 3-MILE 5-MILE
2021 Population 55,693 452,228 1,017,015
2021 Households 26,996 204,581 416,335
$93,159 1,017,015 2021 Average Household
Size
2 2.1 2.4
Average HH income Population
within a 3-mile radius within a 5-mile radius Annual Growth 2021-2026 0.5% 0% 0%
2021 Median Age 37.8 39 38.1
2021 Owner Occupied
3,307 35,599 90,293
Households
2021 Renter Occupied
24,333 168,928 324,952
90,293 324,952 Households
2021 Average Household
Owner Occupied Housing Renter Occupied Housing $82,127 $92,976 $93,159
within a 5-mile radius within 5-mile radius Income
2021 Median Household
$58,086 $64,299 $63,300
Income
Businesses 4,340 28,558 64,589
416,335 64,589
Households Businesses
within a 5-mile radius within a 5-mile radius
23FINANCIALS & COMPARABLES 24
FINANCIAL ANALYSIS
RENT ROLL
TENANT SF SF% LEASE EXP INCREASES $ $/SF PF $ PF $/SF
6432-34/6448 3,000 9% 7/31/2026 2% Ann $4,089.15 $1.36 $7,500.00 $2.50
6436 1,000 3% 6/30/2023 2% Ann $1,450.00 $1.45 $2,500.00 $2.50
6438-6440 1,000 3% 10/31/2023 2% Ann $2,391.00 $2.39 $2,500.00 $2.50
6444-6446 2,000 6% 3/31/2026 2% Ann $2,400.00 $1.20 $5,000.00 $2.50
6450 1,200 4% 5/31/2024 2% Ann $1,722.00 $1.44 $3,000.00 $2.50
1051-A Cole 2,250 7% 6/30/2026 2% Ann $2,935.50 $1.30 $5,625.00 $2.50
1051-B Cole 7,050 22% 3/31/2024 10% Ann $5,000.00 $0.71 $17,625.00 $2.50
6442 #200-B 1,500 5% 4/30/2024 2% Ann $3,140.00 $2.09 $3,750.00 $2.50
6442 #202 5,000 15% 7/31/2023 2% Ann $5,025.00 $1.01 $12,500.00 $2.50
6442 #203 5,000 15% 4/14/2024 2% Ann $5,025.00 $1.01 $12,500.00 $2.50
6442 #200-A / #204 3,500 11% 12/31/2025 2% Ann $3,000.00 $0.86 $8,750.00 $2.50
Total 32,500 100% $36,177.65 $1.11 $81,250.00 $2.50
ANNUALIZED OPERATING DATA
INCOME AND EXPENSE CURRENT PRO FORMA EXPENSE BREAKDOWN PER YEAR PER SF
Scheduled Lease Income $434,132 $975,000 Taxes @1.25% $175,000 $5.38
NNN Charges $189,625 $240,000 Insurance $16,250 $0.50
Effective Gross Income $623,757 $1,215,000 Utilities $14,625 $0.45
Vacancy @4% $48,600 Repairs & Maintenance $19,500 $0.60
Expenses $240,000 $240,000 Trash $6,500 $0.20
Net Operating Income $383,757 $926,400
Reserves $8,125 $0.25
TOTAL $240,000 $7.38 / $0.62
25SALES COMPARABLES
ADDRESS PRICE BUILDING SIZE LOT SIZE BUILDING $/SF LAND $/SF SALE DATE
1128-1146 & 1155 N Las
1 Palmas $37,500,000 45,556 81,954 $823 $458 9/10/2021
Los Angeles, CA 90038
1123-1125 Lillian Way
2 $9,000,000 10,610 20,409 $848 $441 7/31/2020
Los Angeles, CA 90038
6361-6367 Selma Ave
3 $4,000,000 6,500 3,485 $615 $1,148 6/1/2021
Los Angeles, CA 90038
6900 Melrose Ave
4 $4,162,000 6,120 9,747 $680 $427 2/2/2021
Los Angeles, CA 90038
901 N Highland Ave
5 $6,725,000 6,700 11,761 $1,004 $572 11/17/2020
Los Angeles, CA 90038
6151 Santa Monica Blvd
6 $10,800,000 18,060 17,469 $598 $618 3/31/2020
Los Angeles, CA 90038
AVERAGE $12,031,167 15,591 24,138 $761 $611
266432 Santa Monica Blvd
1 1128-1146 & 1155 N Las
3 Palmas
2 1123-1125 Lillian Way
3 6361-6367 Selma Ave
1 2
6
4 6900 Melrose Ave
5 5 901 N Highland Ave
4 6 6151 Santa Monica Blvd
SALES COMPARABLES | PRICE/SF
15,591
AVG BUILDING SF
$761
AVG PRICE/SF
6432 SANTA MONICA BLVD IS
43%
BELOW COMPARABLES
27RENT COMPARABLES
ADDRESS UNIT SIZE BUILDING SIZE LOT SIZE ASKING RATE FLOOR LEASE TYPE
1120 Seward St
1 8,777 8,777 9,200 $3.50 1st NNN
Los Angeles, CA 90038
844 Seward St
2 4,350 10,990 13,764 $3.50 1st MG
Los Angeles, CA 90038
752-758 N Highland Ave
3 10,720 10,720 11,693 $3.50 1st NNN
Los Angeles, CA 90038
742 N Cahuenga Blvd
4 3,855 3,855 4,803 $3.50 1st MG
Los Angeles, CA 90038
6721 Romaine St
5 40,728 40,728 34,076 $3.75 1st/2nd NNN
Los Angeles, CA 90038
6535 Santa Monica Blvd
6 5,950 22,000 15,642 $2.65 2nd NNN
Los Angeles, CA 90038
6151 Santa Monica Blvd
7 18,060 18,060 17,469 $3.35 1st/2nd NNN
Los Angeles, CA 90038
732 N Highland Ave
8 8,400 8,400 11,532 $2.65 1st/2nd NNN
Los Angeles, CA 90038
6161 Santa Monica Blvd
9 5,402 31,400 23,096 $2.55 2nd NNN
Los Angeles, CA 90038
AVERAGE 11,805 17,214 15,697 $3.22
286432 Santa Monica Blvd
1 1120 Seward St
1 2 844 Seward St
6 9 7
3 752-758 N Highland Ave
5
4 742 N Cahuenga Blvd
2 5 6721 Romaine St
3 6 6535 Santa Monica Blvd
8 4
7 6151 Santa Monica Blvd
8 732 N Highland Ave
9 6161 Santa Monica Blvd
RENT COMPARABLES | RENT/SF/MON
17,214
AVG SF FOR LEASE
$3.22
AVG ASKING RENT
6432 SANTA MONICA BLVD IS
22%
BELOW COMPARABLES
29CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written
consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute
for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size
and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business
prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and
will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential
buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19
pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and
sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting
matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely
on their own projections, analyses, and decision-making.
NON-ENDORSEMENT NOTICE
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by,
said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.You can also read
