Pasadena, California - Charles Dunn Company

CONFIDENTIAL OFFERING MEMORANDUM
Arroyo & California
Mixed-Use Development Site
Pasadena, California
CONTENTS
Executive Summary
Introduction
Investment Highlights
1
Property Information
Property Description
Site Plan
Plat Map
Zoning Information
Location Overview
Pasadena Overview
Area Overview
History of Pasadena
Demographics
Financial Overview
Rent Roll
Charles Dunn Co., Inc.
2
Executive Summary
Introduction
The Charles Dunn Company, Inc. is pleased to offer for sale, exclusively, the
2.02 acre mixed-use development site located at the northwest corner of Arroyo
I n vestm ent Hi g h l i g hts
Mixed-Use Trophy Development Site
Dense, ultra-upscale urban infill location
Parkway and California Blvd., in Pasadena, California. The project is located
on one of Pasadena’s major thoroughfares, Arroyo Parkway, which ultimately
becomes the 110 Freeway. This affluent area of Pasadena boasts one of Los
Angeles’ strongest demographics. The subject project is also located
directly south of the largest Whole Foods Market west of the
Rockies. This 2-story, 77,046 square foot Whole Foods opened
Approximately 521 feet of frontage along heavily trafficked Arroyo Parkway
Runs adjacent to Pasadena’s new Metro Gold Line
Directly next door to the brand new 77,046 square foot flagship Whole
Foods Market
Outstanding area demographics
in November 2007 and is the next evolution
of Whole Foods Market, the world’s leading
Directly across the street from two of Pasadena’s premier restaurants, The
Chophouse and The Parkway Grill
natural and organic foods supermarket and
the nation’s first certified organic grocer.
2.02 acre site; qualifies for application of City of Pasadena’s “Planned
Development” (see zoning information)
Just west of the prestigious residential community of San Marino
Just south of historic “Old Town Pasadena”
Walking distance to Huntington Memorial Hospital
Arroyo Parkway is currently undergoing a streetscape enhancement project
Favorable phase I report dated 9/26/07
Charles Dunn Co., Inc.
3
Bellev
ue Dr
4
ine
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Cali
forn
ay
ia B
oy
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ark
P
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Arr
oule
vard
Property Information
ive
Prope rty Desc r iption
Z oning I n f o r m ation
Addresses:
491-503, 541 & 577 S. Arroyo Parkway
Pasadena, CA 91105
Lot Size:2.02 acres/approximately 88,013 ± SF
Price:
Best Offer
Land Size:
Approximately 88,013 ± SF
Zoning:
CD-6 (Central District – Mixed Use)
Mixed-Use:Allowed as part of the Arroyo Corridor
Transitions Precinct
A.P.N.’s:
5722-008-002, 012, 016, 017
Current Height Limitations: 65' max with a 50' average
Lot Dimensions:
521 feet along Arroyo Parkway
169 feet along California Blvd
Planned Development:Eligible for application based on lot size
(2.02 acres)
Zoning:
CD-6 (Mixed-Use)
Current FAR:
1.50
Current Improvements:2 restaurants, 3 industrial buildings, 1 retail
building, and 1 office building
WHAT IS A PLANNED DE V E L O P M E N T ?
The Planned Development (PD) District, is a unique tool to implement the objectives and policies of the General Plan. The PD District provides a unique
approach for developing large parcels of land with a minimum site area of 2 acres. The PD District is intended to ensure orderly planning and quality urban
design that will be in harmony with the existing or potential development of the surrounding neighborhood. The Planned Development District is a specially
tailored zoning district which designates the zoning regulations for the accompanying project, sets specific development standards, and ensures that zoning
and the General Plan are consistent.
Source: City of Pasadena, Planning Division
Charles Dunn Co., Inc.
5
California Boulevard
Pitcher Alley
Bellevue Drive
Property Information
Metro Gold Line
M
M
Plat Map
11
100
10 POR
9 POR
99.50
0.50
FM 16454
LACTC
901
9150±SF
12
SIDEWALK EASE
100
85
15
11 POR
11 POR
H
900
PG
7
17
32830±SF
LACTC
MR 32-81
MR 3-315
34
16550±SF
100
16
35
POR
140.75
99
TRACT
BK
5720
99
14
116
127
83
14
VARIES
3
30
MR
28350±SF
170±SF SW
28180±SF
33
169
32
2
1
SAN PASQUAL
31
109
30
169
29
California Boulevard
100
101
PROPERTY
109
GT STAMM
23
.5
6
20
100
THE
94
65
60
OF
46.23
35
100
5
28
POR
169
Bellevue Drive
27
6.40 100
80
99.50
SUBDIVISION
15
100
WEBSTER & STRATTON’S
R=
PG
9
Arroyo Parkway
7.50 8.02
100
PG
16
6.40 100
80
Pitcher Alley
Bellevue Drive
Site Plan
30
6
Bellevue Drive
Arroyo Parkway
73
Arroyo Parkway
d
ulevar
nia Bo
Califor
Metro Gold Line
Raymond Ave
Aerial –­ Looking East
Charles Dunn Co., Inc.
7
8
Location Overview
Pa sad ena Over view
Pasadena is located at the base of the picturesque San Gabriel Mountains,
Pasadena is a stimulating place to both live and work. Business opportunities are
just 10 miles from downtown Los Angeles. With the San Gabriel Mountains
plentiful. Major corporations, as well as thriving small businesses, make Pasadena
to the north, Pasadena is bordered by several affluent cities to the east, west
their home. Some of the top employers in Pasadena include NASA Jet Propulsion
and south such as; San Marino, La Canada Flintridge, South Pasadena, Sierra
Laboratory, Kaiser Permanente, Ameron International, Earthlink
Madre and Glendale.
Network and Fannie Mae.
Pasadena is in its fourth decade of active redevelopment.
The Pasadena Community Development Commission
(PCDC) was established with a mission “To enhance
the economic stability of the City through
economic
development
and
affordable
Pasadena is well known for its extraordinary turn-of-the-century architecture,
housing programs”. The PCDC focuses
ranging from exquisite public buildings to grand private estates. With its enviable
on
location and a population of 140,000, Pasadena offers residents and visitors
and/or revitalization of commercial
a friendly and safe enclave. The city’s mild Mediterranean climate also makes
and neighborhood projects within
for ideal living and working conditions; year-round temperatures average 76
Pasadena. The PCDC is responsible
degrees Fahrenheit. In addition, Pasadena is easily accessible to all Los Angeles
for
area airports, freeways, and other Southern California attractions. The 13.7-mile
Redevelopment Project Areas.
Gold Line light rail system, transports passengers from 6 stations throughout
Pasadena to downtown Los Angeles and all points in between.
the
the
identification,
activities
of
development
seven
9
Location Overview
126
Canyon
Country
Santa
Clarita
Stevenson
Ranch
138
2
Newhall
Wrightwood
5
Sylmar
Porter
Ranch
San
Fernando
Granada
Hills
Chatsworth
Canoga
Park
Woodland
Hills
Calabasas
10
Topanga
North Hills
Encino
Tujunga
Mt. Baldy
170
La Canada
Flintridge
210
Sun Valley
405
Resada
Hidden Hills
Sundland
Pacoima
Northridge
West Hills
210
Van Nuys
Sherman
Oaks
2
North Burbank
Hollywood
Altadena
Glendale
134
Griffith
Park
5
101
Alhambra
Beverly
Hills
Malibu
10
Santa
Monica
El Monte
Montebello
110
Huntington
Park
Inglewood
South Gate
Manhattan
Beach
Redondo
Beach
Compton
Gardenia
710
Torrance
Rancho
Palos Verdes
110
Long Beach
Los Angeles
Harbor
71
15
Chino Hills
State Park
Norco
Yorba Linda
Cypress
Corona
94
Placentia
Los
Alamitos
22
Anaheim
Villa Park
Stanton
Westminster
Garden
Grove
Sunset
Beach
241
Orange
261
Silverado
Santa Ana
Fountain
Valley
405
Regional Map
Chino Hills
Brea
Seal Beach
Long Beach
Harbor
Chino
Buena Park
Lakewood
10
60
60
La Habra
La Miranda
Fullerton
Carson
405
Diamond
Bar
5
Bellflower
91
Ontario
Pomona
57
Norwalk
105
Rancho
Cucamonga
Upland
10
Rowland
Heights
Whittier
Santa Fe
Springs
Downey
Lynwood
Hawthorne
Pico Rivera
Bell
210
Covina
La Puente
Hacienda
Heights
605
Glendora
San Dimas
West
Covina
405
El Segundo
Baldwin
Park
60
Culver City
Marina
Del Rey
Azusa
Monterey
Park
Los Angeles
Pacific
Palisades
Monrovia
Arcadia
Pasadena
Temple City
West
Hollywood
Topanga
State Park
Mt. Wilson
55
Irvine
Limestone
Canyon
Regional Park
5
133
Area Over view
The subject property is a rare mixed-use development site, located on the
The historic streets and alleyways, rustic brick façades, and architectural accents
northwest corner of Arroyo Parkway and California Boulevard, with approximately
of Pasadena’s original business district are alive again with over 200 specialty
521 feet of frontage along Arroyo Parkway, a major gateway into the City of
boutiques, upscale retailers, art galleries, antique shops, open-air bistros,
Pasadena. The 2.02 acre site, provides a developer with a unique opportunity
theaters, and more.
to build a trophy mixed-use project on a prime intersection, in prestigious
The Playhouse District
Pasadena, California.
The Playhouse District is located between the Lake Avenue business corridor and
The property is strategically located within walking distance to some of
Old Town Pasadena. As one of Southern California’s strongest centers for art and
Pasadena’s premier destinations, including:
literature, the area boasts museums, theaters, restaurants, art galleries and the
California School of Culinary Arts.
77,046 SF Flagship Whole Foods Market
Directly next-door
Arroyo Chop House Restaurant
Directly across the street
The Parkway Grill Restaurant
Directly across the street
Future growth in the district includes various new residential developments
The Del Mar Metro Station
Within 2 blocks
currently being constructed and others being proposed, solidifying the Playhouse
Pasadena’s Central Park (61-Acre Park)
Within 2 blocks
Houston’s Restaurant
Within 2 blocks
New Balance Store
Within 2 blocks
Huntington Hospital
Within 2 blocks
District vision of “Culture, Commerce and Community.”
South Lake Avenue
South Lake Avenue is a unique 10 block corridor with retailers, residential, and
The subject property is immediately adjacent to and influenced by the Central
office buildings. More than 600 businesses are nestled along this tree lined
Business District of the City of Pasadena. Pasadena’s Central Business District
boulevard in the city’s financial district.
includes Old Town Pasadena, the Playhouse District and South Lake Avenue.
In the 1950’s, South Lake Avenue gained fame as one of Southern California’s
Old Town Pasadena
most exclusive shopping areas. Throughout its fifty-plus years of growth and
Old Pasadena is nationally recognized for its vibrant main street revitalization.
expansion, South Lake Avenue has continued to maintain its status as a vital
Old Pasadena is a 22 block area that offers memorable architecture and reflects
thriving community in the City of Pasadena.
the traditions of early California, blending in a cultivated collection of shopping,
delectable dining, and endless entertainment.
Charles Dunn Co., Inc.
11
Location Overview
Arroyo Parkway Streetscape Enhancement Project
The intent of this project is to enhance a major gateway into the City of Pasadena,
Arroyo Parkway. The enhancement program provides street improvements
along Arroyo Parkway between Colorado Boulevard and Glenarm Street. These
The Gold Line uses 26 state-of-the-art rail cars. Each rail car costs $2.36 million,
improvements include: rubberized asphalt payment, modifications of the median
and each train car seats 76 passengers. During rush hours, the scheduled capacity
island to add/lengthen left-turn pockets and to widen through-traffic lanes,
for each car is a total of 144 passengers including standees.
sidewalk and median landscaping, pedestrian lighting, crosswalk treatments,
12
street furniture (benches and trash receptacles), and miscellaneous sidewalk,
Art Center College of Design
curb, and gutter reconstruction. This project is currently underway.
Art Center College of Design is located in Pasadena, with classes held at its
Source: City of Pasadena, Capital Improvement Program
Metro Gold Line
The subject development site is within walking distance (2 blocks) of the Del
Mar Metro Gold Line Station which is incorporated into the Archstone Del
Mar apartment complex. The Gold Line runs directly to the west of the subject
development site.
The new light rail line spans 13.7 miles linking Union Station in downtown Los
Angeles and Sierra Madre Villa in East Pasadena via Chinatown, Highland Park,
South Pasadena, and Pasadena.
The opening of the Gold Line expands the Metro Rail to 73.1-miles. The Gold
Line joins two existing light rail lines (Metro Blue and Green Lines) and a subway
(Metro Red Line) that crisscross portions of Los Angeles County from Long Beach
to Los Angeles, Redondo Beach, Norwalk, Hollywood, Universal City, North
Hollywood, as well as Pasadena.
Hillside Campus and new South Campus in downtown Pasadena. Art Center
College of Design has been a leader in art and design education for nearly 75
years. The College offers undergraduate and graduate degrees in a wide range
of disciplines, as well as Public Programs offering design education to all ages
and levels of experience.
Huntington Hospital
Founded in 1892, Huntington Hospital is a 525-bed non-profit, community
hospital. Only six years younger than Pasadena itself, Huntington Hospital has
grown with the community it serves.
Also a teaching facility affiliated with the University of Southern California
School of Medicine, and with several accredited nursing schools and colleges,
Huntington Hospital continues to ensure an excellent combination of academic
medicine and individualized, patient-focused care.
Lin
Rose Bowl
E Orange Grove Blvd
ve
nA
col
E Orange Grove Blvd
Brookside
Park
Foothill Fwy
Foothill Fwy
210
W Del Mar Blvd
Ave
arino
Avenue 6
4
ue 6
4
San M
NA
ven
S Hill Ave
Oak Knoll
110
Lacy Park
Rd
Monterey Rd
Dr
inia
Mission St
Monte
ton
ting
Hun
Virg
SOUTH
PASADENA
E California Blvd
Orlando Rd
rey Rd
Mission St
Arroyo Seco
Golf Course
S Lake Ave
66
S Fair Oaks Ave
Route
Fremont Ave
110
ic
Histor
S Los Robles Ave
E Glenarm St
Blvd
Arroyo Dr
sc
Pa
e
Av
S Arroyo Pky
S Orange Grove
Blvd
t
oa S
guer
N Fi
Yor Garvanza
kB
lvd
n
Sa
l
ua
California
Institute of
Technology
E California Blvd
Singer
Park Huntington
Memorial
Hospital
S Arroyo
d
aR
om
E Del Mar Blvd
Park
W California Blvd
L
La
Pasadena
City College
S Allen Ave
134
E Colorado Blvd
Paseo
Colorado
OLD TOWN
PASADENA Central
210
N Allen Ave
W Colorado Blvd
N Hill Ave
Annandale
Golf Club
Fuller
Theological
Seminary
E Colorado Blvd
Memorial
Park
Ven
N Lake Ave
134
wy
F
tura
210
Sierra Madre Blvd
159
San Gabriel
Cemetery
Area Map
Charles Dunn Co., Inc.
13
Location Overview
14
ue
llev
ve
Dri
Be
Arro
yo Pa
rkwa
o Go
lev
ar
ld Li
ne
Ca
lif
or
ni
aB
ou
Metr
d
y
Aerial –­ Looking East/Northeast
15
Me
Arro
tro
yo Pa
Gol
dL
rkwa
ine
y
Bellevue Drive
California Bou
levard
Aerial –­ Looking North
Charles Dunn Co., Inc.
Location Overview
Histo ry of Pasaden a
In 1886 Pasadena incorporated, largely as a measure to rid the city of its saloon.
The completion in 1940 of the Arroyo Seco Parkway, the first freeway in the
In the ensuing decade, amenities such as sewers, paved streets, and electric
west, provided a fast and direct route from Pasadena to Los Angeles. Pasadena
street lighting were installed. On January 1, 1890, the Valley Hunt Club initiated
became an attractive place to live for people working in industrial areas in Los
a mid-winter festival with a procession of flower-bedecked horses and carriages.
Angeles. In the postwar boom, newcomers flocked to Pasadena.
This became a yearly tradition and in 1898 the festival was formally sponsored
16
by the Tournament of Roses Association. An added tourist attraction was the
The 1970’s was a period of economic revitalization, primarily under direction
Echo Mountain Incline Railway which opened in 1893 and included a mountain
of the Pasadena Redevelopment Agency. Large corporations relocated their
chalet resort and the Alpine Tavern at Crystal Springs.
headquarters to Pasadena, the Conference Center was built, and the Plaza
Pasadena retail shopping mall was completed. Millions of square feet of
The cultural and educational side of the city was not neglected. The educational
office space were created, as well as many new condominium projects and
system expanded in both the public and private sector. Throop Polytechnic
commercial buildings.
Institute (first named Throop University) was founded in 1891 and later became
the California Institute of Technology. Pasadena had a Shakespeare Club, a Grand
As Pasadena looks toward the future it seeks to balance growth with community
Opera House and numerous civic and cultural organizations.
needs, historic character, a diverse economic base, and a safe, healthy, family
community. The Colorado Street Bridge, designed in 1913 as a “work of art” and
Through the end of the 1920’s, Pasadena continued to enjoy a reputation as
renovated in the early 90’s to conform with seismic safety standards, symbolizes
a tourist center and winter resort for the wealthy. The city had much to offer
the commitment of Pasadena to integrate its rich
culturally. The Pasadena Community Playhouse was incorporated in 1917 and
cultural heritage with the challenges of
moved to the new Pasadena Playhouse in 1925.
the new millennium.
Source: www.ci.pasadena.ca.us
The Rose Bowl
The Rose Bowl was constructed in 1922. It originally had
an average float requiring up to 100,000 blossoms. Approximately 1,000,000
people come to Pasadena to watch the Tournament of Roses each year.
a seating capacity of 57,000 and currently seats 100,184
people. Recognized throughout the world, Pasadena’s Rose
California Institute of Technology (Caltech)
Bowl is famous for championship events including five Super
The California Institute of Technology has been a staple in Pasadena since its
Bowl football games, the 1999 Women’s World Cup Soccer
founding in 1891. The mission of Caltech is to expand human knowledge and
Championship and the annual College Football Rose Bowl Game.
benefit society through research integrated with education. Caltech investigates
The Rose Bowl is now home for the UCLA Bruins Football team.
the most challenging, fundamental problems in science and technology in a
singularly collegial, interdisciplinary atmosphere, while educating outstanding
Tournament of Roses
students to become creative members of society.
The Tournament of Roses annual parade of flower-covered floats has been held
in Pasadena since January 1, 1890. It was patterned after a European festival of
Caltech faculty and alumni have received wide recognition for their achievements
roses and was meant to show off Pasadena’s natural beauty and sunny climate
in science and engineering.
while most of the nation lay buried beneath snow.
Today, the 5.5 mile (8.8 kilometers) Tournament of Roses parade has magnificent
floral floats, marching bands, equestrian units, and public officials. Floats must
be completely covered with flowers, greenery, or other natural material, with
Nobel Prize:
31 recipients, 32 prizes
Crafoord Prize:
5 recipients
National Medal of Science:
49 recipients
National Medal of Technology:
10 recipients
California Scientist of the Year:
15 recipients
Fellow, American Academy of Arts and Sciences:
86 faculty
Member, National Academy of Sciences:
76 faculty
Member, National Academy of Sciences,
Institute of Medicine:
3 faculty
Member, National Academy of Engineering:
29 faculty
Source: www.caltech.edu
Charles Dunn Co., Inc.
17
Location Overview
126
Canyon
Country
Santa
Clarita
Stevenson
Ranch
138
2
Newhall
Wrightwood
5
Sylmar
Porter
Ranch
San
Fernando
Granada
Hills
Chatsworth
18
Calabasas
Topanga
North Hills
Encino
Tujunga
170
La Canada
Flintridge
210
Sun Valley
405
Resada
Woodland
Hills
Sundland
Pacoima
Northridge
Canoga
Park
210
Van Nuys
Sherman
Oaks
2
North Burbank
Hollywood
Altadena
Glendale
134
Griffith
Park
1 miles
5
101
5 miles
Los Angeles
10
Montebello
110
605
405
Huntington
Park
Inglewood
El Segundo
South Gate
Manhattan
Beach
Gardenia
Compton
91
710
Neighborhood Boundaries – Los Angeles/Pasadena
Rancho
110
Long Beach
60
60
Chino
Chino Hills
71
15
La Miranda
Chino Hills
State Park
Brea
Norco
Yorba Linda
Fullerton
Corona
94
Placentia
Buena Park
Lakewood
405
Diamond
Bar
La Habra
5
Bellflower
10
Pomona
57
Norwalk
105
Rancho
Cucamonga
10
Rowland
Heights
Whittier
Santa Fe
Springs
Downey
Lynwood
Hawthorne
Pico Rivera
Bell
210
Covina
La Puente
Hacienda
Heights
Glendora
San Dimas
West
Covina
60
Culver City
Marina
Del Rey
Baldwin
Park
El Monte
Pacific
Palisades
Santa
Monica
Azusa
3 miles
Beverly
Hills
Malibu
Monrovia
Arcadia
Pasadena
Temple City
West
Hollywood
Topanga
State Park
Mt. Wilson
Cypress
Los
Alamitos
22
Villa Park
Stanton
Westminster
Garden
Grove
241
Orange
261
Silverado
Demographics
Average Family Household Income
2007 Estimated
Population
2007 Estimated Average
Household Income
1 Mile
24,761
$132,239
3 Miles
228,391
$98,837
5 Miles
601,487
$87,888
1 mile
3 miles
5 miles
27,020
24,761
21,732
21,880
9.12%
13.94%
-0.68%
243,597
228,391
210,287
203,911
6.66%
8.61%
3.13%
634,984
601,487
563,929
543,946
5.57%
6.66%
3.67%
1 mile
3 miles
5 miles
15,046
13,584
5,271
8,313
11,693
10,880
10.76%
16.17%
7.47%
92,435
86,547
51,947
34,600
79,849
76,933
6.80%
8.39%
3.79%
218,131
206,920
140,230
66,690
195,121
189,088
5.42%
6.05%
3.19%
Households
2012 Projection
2007 Total Estimate
2007 Family Households
2007 Non-Family Households
2000 Census
1990 Census
Growth 2007-2012
Growth 2000-2007
Growth 1990-2000
3 miles
5 miles
$132,239
$98,837
$87,888
2007 Estimated Family Households by Household Income Per Year
Population
2012 Projection
2007 Estimate
2000 Census
1990 Census
Growth 2007-2012
Growth 2000-2007
Growth 1990-2000
2007 Estimated Average
Household Income
1 mile
Family Households
Less than $15,000
$15,000-$24,999
$25,000-$34,999
$35,000-$49,999
$50,000-$74,999
$75,000-$99,999
$100,000-$149,999
$150,000-$249,999
$250,000-$499,999
$500,000 and more
1 mile
3 miles
5 miles
5,271
4.57%
4.04%
4.99%
8.65%
15.69%
14.70%
19.92%
16.56%
6.56%
4.31%
51,947
8.86%
8.61%
8.85%
12.77%
16.68%
12.58%
14.87%
10.09%
3.83%
2.86%
140,230
8.75%
9.19%
9.64%
13.56%
17.85%
12.93%
15.09%
8.43%
2.82%
1.75%
Source: Claritas, Inc.
Charles Dunn Co., Inc.
19
Location Overview
Huntington Hospital
20
nia
or
alif
d
var
e
oul
B
C
Metro
Arroy
Gold L
ine
o Par
Be
ll
ev
ue
Dr
ive
kway
Aerial –­ Looking West/Southwest
W Maple St
Old Pasadena
35
N Mentor Ave
E Colorado Blvd
36
37
38
39
S El Molino Ave
S Madison Ave
Cordova St
40 41
Shoppers Lane
E Del Mar Blvd
46
South
Lake
Avenue
Waverly Dr
W Bellevue Dr
Boston
Court
Theater
E Green St
S Oakland Ave
13
14
N Hudson Ave
N El Molino Ave
N Oakland Ave
16
S Euclid Ave
M
S Arroyo Pkwy
W Del Mar Blvd
Central
Park
30 31
E Union St
27
32 33
34
Exhibition
Conference
Building
Building
Pasadena
Civic Auditorium
15
6
7
E Union St
Pacific Pasadena
17
18 Asia Museum
Of Art
Museum
E Colorado Blvd
E Green St
Castle
Green
S Raymond Ave
S Pasadena Ave
710
5
S Fair Oaks Ave
3
S De Lacy Ave
S St John Ave
W Green St
2
4
28
29
E Union St
S marengo Ave
1
Playhouse
District
City
Hall
26
S Mentor Ave
W Colorado Blvd
21 22
25
S Lake Ave
12
20
23
24
S Hudson Ave
Mid-Town
Civic Center
W Union St
19
S Oak Knoll Ave
Holly St
N Madison Ave
Memorial
Park
11
S Los Robles Ave
9
10
Central
Library
E Walnut St
N Garfield Ave
N St John Ave
N Pasadena Ave
W Walnut St
8
M
N Los Robles Ave
N Raymond Ave
134
Corson St
AREA OVERVIEW
M
210
N Lake Ave
N Fair Oaks Ave
E Maple St
210
E Bellevue Dr
43
44
Palmetto Dr
45
42
Palmetto Dr
47
E California Blvd
W California Blvd
E Fillmore St
M
110
Fillmore St
Fillmore St
Belietontaine St
Huribut St
S Mentor Ave
S Lake Ave
Huntington
Memorial
Hospital
1. Pasadena Place
2. Friend Paper Company
3. Sares Regis
4. Messina
5. Palermo
6. Library Homes
7. Delacey Flats
8. Acapella
9. 157 N Raymond
10. 130 N Fair Oaks Mixed Use
11. Raymond Theatre
12. Boston Centennial Building
13. Del Mar Station
14. 215 South Marengo Condominiums
15. Arpeggio
16. Paseo Colorado
17. Montana I
18. Western Asset Plaza
19. Madison Walk
20. Heritage Walk
21. El Molino Walnut Mixed Use Proposal
22. Walnut Place
23. Hudson Locust Condos
24. Pasadena Hudson Apartments
25. Gateway Apartments
26. Alexan City Place
27. Lake/Walnut Condos
28. Walnut Hudson Project
29. Mill Creek North
30. Oak Knoll Condominiums
31. Fountain Court
32. Mill Creek South
33. Granada Court
34. Trio
35. Madison Group Condos
36. Archstone Playhouse
37. Prado
38. Hudson Condos 1
39. Hudson Condos 2
40. Pasadena Collection Apartments
41. Pasadena Collection Condos
42. Granite Park
43. Whole Foods
44. Arroyo Chop House
45. Parkway Grill
46. Houston’s
47. Caltech
38 Units over 8,200 SF retail
61 Condos over 8,836 SF retail
12 Acre Urban Village
42 Units over 12,700 SF office/retail
32 Units over 18,000 SF retail
17 Condos over 3,930 SF retail
34 Condos over 5,000 SF retail
143 Units over 1,000 SF retail
18 Units over 3,000 SF retail
35 Condos
Adaptive re-use of theater as residential mixed use project
30 Condos over 14,000 SF retail
347 Units over Gold Line Station with 11,000 SF retail
38 Condos
135 Units with 11 Very-Low Units over 2,100 SF retail
387 Units over 600,000 SF retail
38 Condos
270,000 SF office over retail
40 Condos
33 Condos
38 Units over 2,400 SF retail
15 Condos
22 Units
140 Units
213 Units
111 Condos of 8,300 SF retail
22 Units over 2,900 SF retail
36 Condos
53 Condos
98 Non-Assisted Living Senior Units
64 Apartment Units over public parking
29 Condos
304 Units over 18,000 SF retail
18 Condos
120 Units over 8,000 SF retail
103 Condos over office & retail
9 Condos with commercial office
9 Condos with commercial office
72 Units
14 Condos over office & retail
80 Condos
77,046 SF Supermarket
Restaurant
Restaurant
Restaurant
University
Oak K
noll Ave
Alpine St
The information listed above has been obtained from sources we believe to be reliable, however, we cannot guarantee its accuracy or completeness.
a Ave
Arington St
Ohio St
Can
on
Dr
Charles Dunn Co., Inc.
21
Financial Overview
22
Rent Roll
Picture #
Tenant & Address
Building Type
Building SF
Rent/Month
Lease Expiration
Lease Type
Options
1
Dona Rosa Bakery
577 S. Arroyo Parkway
Restaurant
4,200
$13,522
11/30/13
NNN
(2) 5 Year
2
Margarita Jones Mexican Rest.*
541 S. Arroyo Parkway
Restaurant
7,500
$1,450 + 2.5% of
Gross Sales over
Rental Amount**
6/30/12
NNN
None
3
Vacant
523 S. Arroyo Parkway
Retail
4,000
0
n/a
n/a
n/a
4
Vacant
501 S. Arroyo Parkway
Office
3,600
0
n/a
n/a
n/a
5
Huntington Business Interiors***
499 S. Arroyo Parkway
Industrial/Office
25,000
$4,000
Month to Month
Gross
n/a
6
Vacant
495 S. Arroyo Parkway
Industrial
7,500
0
n/a
n/a
n/a
7
Vacant
491 S. Arroyo Parkway
Industrial/Office
4,600
0
n/a
n/a
n/a
* Tenant is currently under a ground lease that expires June 30, 2012
** Gross Sales collected in 2006 was $23,327
***Tenant will be vacating on or before 5/15/08
The information listed above has been obtained from sources we believe to be reliable, however, we cannot guarantee its accuracy or completeness.
Charles Dunn Co., Inc.
23
Financial Overview
7
6
2
1
levard
Metro Gold Line
California Bou
24
499 S.
Arroyo Parkway
541 S.
Arroyo Parkway
523 S.
Arroyo Parkway
577 S.
Arroyo Parkway
Arroyo Parkway
3
495 S.
Arroyo Parkway
501 S.
Arroyo Parkway
5
4
491 S.
Arroyo Parkway
Presented Exclusively by
David J. Ickovics
Senior Managing Director
djickovics@charlesdunn.com
10100 Santa Monica Boulevard, Suite 400
Los Angeles, California 90067
(310) 312-1800 phone
(310) 312-1801 fax
www.charlesdunn.com