5025 Lankershim Blvd
North Hollywood, CA 91601
Retail Property For Sale

100%, NNN-LEASED URBAN INFILL OFFICE INVESTMENT WITH CREDIT TENANT AND SIGNIFICANT UPSIDE ? High-image, two-story office building situated in the NoHo Arts District, at the highly visible signalized corner-lot location of Lankershim Boulevard and Hesby Street, with excellent egress/ingress and frontage along one of North Hollywood’s most prominent commercial and cultural corridors. ? 100%-leased to Bank of America (NYSE: BAC, Moody’s: A3), one of the world’s largest financial institutions, with more than $80 billion in annual revenues and 47 million consumer relationships. ? The Property serves as Bank of America’s sole location in the NoHo Arts District since the 1990s. Bank of America’s high deposits of $248 million and consistently low and fixed occupancy costs at this location provide high certainty of future renewals and continued tenancy at this location into the foreseeable future. ? Bank of America’s NNN lease structure and 42% belowmarket rents provides ease of ownership and an exceptional opportunity to move in-place rents to a market level in a vacating scenario. ? Underlying land provides high intrinsic value due to zoning that supports high-density residential development. STRONG MARKET FUNDAMENTALS ? Premier Tri-Cities office market, home to the “Entertainment Capital of the World” and among Southern California’s top employment centers, with the third-lowest vacancy rates in the Greater Los Angeles Area in 2Q18. ? Severely limited low-rise office inventory in the Tri-Cities (Burbank/North Hollywood/Universal/Studio Cities) office market: there are 216 Class A, B & C buildings with sizes ranging between from 10,000 SF and 30,000 SF, totaling 3.5 million SF. For this market in 3Q18YTD, the vacancy rate is an extremely low 4.7%, with next to zero vacancy in the North Hollywood. ? Given Los Angeles’ extreme lack of housing supply and congested freeways, NoHo Arts District’s transit oriented live-work-play offerings, including its ±2,200 apartments in the pipeline since 2010, will provide the greatest value appreciation in the LA Basin. ATTRACTIVE 24-HOUR TRANSIT-ORIENTED LIVE-WORK-PLAY LOCATION ? Central NoHo Arts District location—home to contemporary theaters, art galleries, cafes, shops and the largest concentration of music recording venues west of the Mississippi—a walkable urban village with direct access to nearby SR-101/SR-170 freeways and the NoHo Metro Station that provide convenient access to the Greater Los Angeles Area. Burbank/Hollywood Airport is just a 10-minute drive to the north. ? Adjacency to Burbank Media District, with many of the largest employers in the entertainment and media industries, including The Walt Disney Studios, Universal Studios, Warner Brothers, Blizzard Arena, ABC Television, DC Comics and more.. ? Exciting NoHo Arts District revitalization and development, part of North Hollywood’s plans to turn the area into a regional center with more than $1 billion in transit-focused mixed-use development surrounding the area’s Metro stations.