Asking Price Contact for pricing
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NOI Net Operating Income N/A
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Attributes

Year Built 2017
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Asset Description

JLL, as exclusive advisor, is pleased to offer qualified investors the opportunity to

acquire the fee simple interest in 1601 Vine Street (the “Property” or “1601 Vine”),

an 8-story, 115,589 SF, Trophy Class A, LEED Gold Certified, office building in the

heart of the entertainment capital of the world, Hollywood, California.


Delivered in 2017, the newly constructed Property is well located and proximate to

an unmatched concentration of studio infrastructure, media companies, housing

and walkable amenities. WeWork has leased the majority of the Property through

September 2030 and attracts Enterprise users and business people from all

aspects of the tech and media ecosystem. The ground floor retail space is leased

to City National Bank, bringing the Property to 100% occupancy.

Investment Highlights

2017 Delivered Trophy Office Building featuring 14' slab-to-slab

ceiling, 5 levels of subterranean parking, limestone lobby with

terrazzo flooring, floor-to-ceiling windows and a discount to today's

replacement cost.

Unmatched Location on the corner of Vine Street and Selma

Avenue, on the Hollywood Walk of Fame. The Property boasts

a walk score of 98 and is surrounded by some of the best retail

amenities and nightlife that Los Angeles has to offer.


Stabilized Tenancy with ±8 Years of WALT. 1601 Vine is 100%

leased to leading coworking tenant, WeWork, and investment grade

credit, City National Bank.


Significant Parking Revenue Upside with office and afterhours

utilization. Both office tenants and area tourists utilize the Property’s

garage during and after working hours. Current utilization is trending

positively and has 26% upside to reach pre-pandemic levels.


Building Signage Upside with ±64,000 average daily traffic count

passing through Vine St. and Selma Ave. Adjacent properties have

benefited from additional signage revenue streams in one of Los

Angeles’ two signage districts.


Robust Demand from Media and Entertainment Industry with

iconic tech and media companies such as Netflix, Viacom, Fender,

Sunset Bronson, Sunset Gower Studios, and Paramount continue to

invest in the area.


Increasing Content Creation Budgets from top streaming

companies will continue to fuel office demand. One job on the

studio lot equates to eight office jobs off the lot.


Strong Hollywood Market Fundamentals with 7 consecutive years of

positive net absorption prior to Covid and unmatched performance in

newly delivered office product.


Barriers to Entry: 85% of the Class A product in Hollywood is controlled

by long-term institutional holders, leaving very few opportunities to

own iconic assets in one of nation’s top media markets.

Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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