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6404 Wilshire Blvd
6404 Wilshire Blvd, Los Angeles, CA 90048
64,207 SF | Office
Office Property - Off Market
- Building Size:
- 64,207 SF
- Property Type:
- Property Sub-type:
- Office Building
- Property Use Type:
- Commission Split:
- Cap Rate:
- No. Stories:
- Building Class:
- Year Built:
- Lot Size:
- 0.45 AC
- Listing ID
- Last Updated
- over 1 year ago
IF YOU WOULD LIKE TO RECEIVE THE OFFERING MEMORANDUM, PLEASE FILL OUT THE CONFIDENTIALITY AGREEMENT IN THE ATTACHMENT SECTION OF THE WEBSITE.
CB Richard Ellis, as exclusive, is pleased to present the opportunity to acquire 6404 Wilshire Boulevard, a 64,207 square foot 12-story office project located in Los Angeles' Miracle Mile submarket. With average in place monthly rents of $2.10/PSF/FSG in a submarket with average asking monthly rates of $3.31 PSF/FSG, this 92% leased Class B building is among the Miracle Mile' s preferred low cost alternatives. The Property' s average tenant size is 1,200 RSF offering a diversified tenant mix while minimizing the investor' s tenant improvement and leasing costs. Additionally, the Property includes approximately 5,000 RSF of ground floor retail with superb Wilshire Boulevard frontage.
Occupying an outstanding central location along Wilshire Boulevard approximately one block away from the delineation line separating the Miracle Mile from Beverly Hills, the Property' s location provides rate conscious tenants with immediate access to Los Angeles' renowned Westside office inventory as well as proximity to Downtown Los Angeles. The Property includes unobstructed views to the north and south and is surrounded by some of Los Angeles' premier residential communities. 6404 Wilshire Boulevard is being offered for a purchase price of $13,500,000.
Superb Market Fundamentals: Through 3Q 2008, the Miracle Mile' s 5 million RSF submarket had an extremely healthy vacancy rate of 8.8% with average asking rents of $3.31/PSF/FSG. Due to its close proximity, The Miracle Mile is often considered part of Los Angeles' renowned 47 million RSF West Side market, which currently has a current aggregate vacancy rate of 7.7% and average monthly asking rates of $4.19/PSF/FSG.
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P