Overview

Description

Lee & Associates is pleased to present the opportunity to purchase this development opportunity at 10510 - 10536 Culver Blvd consisting of ±24,398 square feet of land. The site is an assemblage of two parcels positioned adjacent to Downtown Culver City and central to the area’s prolific investment activity.

The Property currently is built out as office and retail totaling ±11,734 square feet. The Commercial Neighborhood zoning allows for multiple uses including creative office, retail, mixed use, and live/work. This site affords a developer the rare opportunity to construct a new development in an area of Los Angeles currently experiencing a historic transformation.

Culver City is currently one of, if not the most, active submarkets in Los Angeles. Its central location allows employers to pull talent from virtually anywhere in the city, and the Metro Expo Line, which connects Culver City to Santa Monica and Downtown Los Angeles, increasingly drives companies to locate here. Most notably, Amazon made a strong entrance into the area, taking all of the Culver Studios along with an additional 75,000 SF at the Culver Steps project, HBO has leased 210,000 SF in Ivy Station at the transit-oriented corridor, and Apple has now purchased or leased nearly 700,000 SF in the area. Rental rates in the submarket have exceeded $6.00 per square foot in some instances.

Over the past five years the Culver City has exploded with new cafes, chic restaurants, retail shops, and new housing. Due in large part to the excellent school system as well as the Expo Line extension to Santa Monica, the City is attracting a desirable demographic base of an affluent, young, active and highly educated populace.

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