West Los Angeles
Located in one of the most prestigious markets in world, West Los Angeles is a flourishing commercial center offering nearly forty two million square feet of office space within minutes of LAX, numerous national retailers and upscale restaurants. The area surrounding the Property is one of the most densely populated areas in California. More people reside within a 10-mile radius of Sepulveda Center than the entire City of Houston. Being home to a diverse tenant base with a strong presence in the professional and technical services, office support, production and sales industries, West Los Angeles has proven to encompass the strongest sub-markets in all of the Los Angeles basin. Experiencing positive net absorption for the past several years, West L.A. reports one of the lowest vacancy rates in Southern California at 6.1%.
Centrally located between the beach and downtown Los Angeles, Culver City is a safe, modern and progressive community with great shopping, dining, and entertainment, a vibrant business environment, and an exceptional quality of life. Culver City’s unique combination of small-town charm and big-city amenities, make it a great place to live and work. With roots in the early days of the motion picture industry, it has now become a powerful multimedia hub, and a mecca for the fashion and architecture industries. The City boasts dynamic start-ups and world-class companies and is host to a vibrant artistic community offering live theatre, music and dance, as well as a burgeoning array of restaurants, art galleries and retail stores.
CULVER CITY: A BRIEF BACKGROUND The City of Culver City is a charter city incorporated in 1917, with a population of approximately 40,000 within five square miles and surrounded by nearly 370,000 households within a five mile radius. Centrally located between the beach and downtown Los Angeles, Culver City is six miles north of Los Angeles International Airport and strategically located near the intersection of the Santa Monica (I-10), San Diego (I-405) Freeways, and the eastern terminus of the Marina Freeway (SR-90).
Culver City is a modern and progressive community with great shopping, dining, and entertainment, a vibrant business environment, and an exceptional quality of life. Culver City's unique combination of small-town charm and big-city amenities make it a great place to live and work. With roots in the early days of the motion picture industry, the City has now become a powerful and expanding multi-media hub, as well as a mecca for the fashion and architecture industries.
As The Los Angeles Times, The New York Times, and The Boston Globe have discovered, Culver City is a destination filled with outdoor cafes, unique shops and galleries opening onto pedestrian-friendly boulevards. Handsome landmark buildings, cutting-edge media facilities and creative workshops exist throughout. The City boasts dynamic start-ups and world-class companies and is host to a vibrant artistic community offering live theatre, music and dance, as well as an array of restaurants, art galleries and retail stores.
Headquartered within two miles from the Project is Sony Pictures Entertainment (SPE), producer and distributor of major motion pictures and television programming including The Legend of Zorro, Spiderman, and Crouching Tiger Hidden Dragon. With Sony’s recent purchase of MGM and consolidation of its Los Angeles offices, the company’s employment increased to over 7,000 employees in 2006. Other prestigious entertainment and media tenants in the area include Home Box Office (HBO), Fox Studios, and Creative Artists Agency (CAA) located in the recently completed 2000 Avenue of the Stars.
Quality of Life
West Los Angeles’ proximity to upscale neighborhoods, cultural venues, excellent schools, retail centers, and 35 miles of coastline continues to charm visitors and retain residents. The Getty Museum, UCLA, Loyola Marymount, Rodeo Drive, Third Street Promenade, Beverly Center, Venice Beach, and Santa Monica Pier are all located within three miles of West Los Angeles. The submarket also boasts one of the most appealing climates worldwide with nearly 345 sunny days a year, moderate year round rainfall and temperatures, and cool ocean breezes.
Three major freeways serve West Los Angeles: the San Diego Freeway (Interstate 405), running north and south from the San Fernando Valley to Orange County, the Santa Monica Freeway (Interstate 10), connecting the Westside to Downtown Los Angeles, and the Marina Freeway (Interstate 90), serving as the main artery to the new commercial and residential community of Playa Vista. Santa Monica Boulevard, running through West Hollywood and Beverly Hills and ending in Santa Monica, is the final stretch of the fabled “Route 66.” Located just south is the Los Angeles International Airport (LAX) that offers over 90 passenger and cargo airlines and serves over 60 million passengers per year. Santa Monica Municipal Airport also serves the region as a full-service private airfield.