Do you want to lease an office in Culver City? Here’s the rental rate info that you need.

2017 Culver City Office Market Rent Analysis

Culver City is a diverse community with a variety of neighborhoods, each with distinctive commercial and residential real estate. The office market reflects this diversity with Class A Office Towers in the Culver Pointe or Corporate Pointe area (formerly known as Fox Hills and still called Fox Hills by most locals); Downtown Culver City has some larger and medium sized office buildings but also has many creative offices; the Hayden Tract is the center of creative offices where many industrial properties have been converted to the much-sought-after exposed brick, polished concrete floor, and open floor plan designs; West and East Culver City are mostly a mix of smaller and medium size buildings, some are redesigned gems and others are retro-mid century office properties.culver city neighborhoods - commercial real estate

According to the comparables with prices in 2017 for office in Culver City that are reported by Costar, the average asking rent per square foot per month is $3.53 ($3.00 psf median). The median asking rent discount is 2.5%, but that sounds a bit low to me so it may be an issue of available data. The average deal size is 4,816 square feet (1,886 sf median) with an average lease term of 3.4 years. TI Allowance info is not available but the average free rent period is 2 months.

The top five deals in terms of square footage (rental rate is being reported) are as follows:

  1. 8740 Washington Blvd (Class C), 46,966 SF at $.64 MG(effective)
  2. 10100 Venice Blvd (Class B), 46,816 SF at $3.95 MG (asking)
  3. 10000 W. Washington Blvd (Culver One, Class A), 46,189 SF at $5.75 FSG (asking) 
  4. 3960-3962 Landmark St (Class C), 18,678 SF at $2.95 NNN (asking)
  5. 100 Corporate Pointe (Class B), 14,750 SF at $3.05 FSG (asking) to MGM
office rent graph

Asking Rental Rate Per SF/Mo

The top five deals in terms of price per square foot are as follows:

  1. 10000 W. Washington Blvd (Culver One, Class A), $5.75 FSG (asking) for 46,189 SF 
  2. 4641 Leahy St (Class C), $4.25 NNN (asking) for 8,269 SF
  3. 5895 Blackwelder St (Class B), $4.25 NNN for 7,016
  4. 3831 Hughes Ave (Class B Medical), $4.10 FSG for 3,235 SF
  5. 3535 Hayden Ave (Class B), $4.05 MG for 1,368 SF

Contact Us for More Info About Office Rents for Landlords or Tenants

 

Posted in Commercial Property Leasing, Culver City, Landlord Rep, Market Reports, Tenant Rep Tagged with: , , , , , ,

Charming Culver City One-of-a-Kind Office

Large private office with parking space across the street from Culver Studios. The spacious second floor unit features with built-in desks, shelves, and cabinets, hardwood floors (450 sf) and a relaxing balcony (150 sf).

Your own Spanish-style casita. The unit has a wall AC/heater and a nicely decorated bathroom. Great opportunity to have your own office in an attractive and trendy Culver City neighborhood.

Office suitable for therapist, accountant, architect, consultant, writer, technical advisor, planner, academic tutors, artists, and other occupations suitable for residential zoning.

A short walk to Downtown Culver City, Culver City Metro Expo Station, Culver City Stairs, and Hayden Tract. Located near the corner of Ince Blvd and Lucerne Ave, approximately 5 short blocks from Washington Blvd. 

Please do not disturb homeowner – Contact Vars Real Estate at 424-258-5680 to view this property.

Available for $1500 per month for a 1 year lease.

Posted in Commercial Property Leasing, Commercial Real Estate, Culver City, Landlord Rep, Real Estate Brokerage Tagged with: , , , , ,

High ROI Investment Property for Sale

5700-5710 Hoover St, Los Angeles

Two Building Portfolio

5700-5710 Hoover Street

Los Angeles, CA 90037

INQUIRE ABOUT SELLER FINANCING

5710 Hoover Kitchen
 
Price: $2,700,000.00
Type: Special Purpose
Year Built: 1939
Bedrooms: 17
Bathrooms: 16
Sq. Ft.: 10,617
Sq. Ft. of Land: 11,282
Capitalization Rate: 9.00%
Gross Rent Multiplier: 10.94
Price / Sq. Ft.: $254
 
Features 
• Leased until 2026 to Open Arms Temporary Living
• Great Cash Flow with an average cap rate of 9%
• 87 resident capacity plus staff
• Approximately 17 bedrooms,16 bathrooms,kitchen,
laundry room, kitchen & several multi-purpose rooms
• Stable income stream in the City of Los Angeles
 
Location
• On the south-east corner of Hoover and 57th St
• 1 Block West of Figueroa & 2 Blocks North of Slauson
• Easy Access to the 110 FWY
• Across the street from St John’s Well Child and Family
 
Call Jon Varsano at 424.258.5680 or Contact Us for more info
 
Posted in Commercial Property Sales, Commercial Real Estate, Crenshaw/Hyde Park, RE Investor Information, Real Estate Investments, Seller Rep Tagged with: , , , , ,

PRICE REDUCED ON RESIDENTIAL INCOME PROPERTY: 654 Aerick St, Inglewood, CA 90301

654 Aerick Street
Inglewood, CA 90301

Status: For Sale
Price: $749,000.00
Bedrooms: 4
Bathrooms: 3
Sq. Ft.: 1,778
Sq. Ft. of Land: 6,098

Beautiful 4 bedroom, 3 bath Inglewood home that has been completely remodeled. This bright and cheerful home has a large living room with vaulted ceilings and extended dining room with an open kitchen.  Kitchen is complete with island in middle, breakfast bar and plenty of storage for pots, pans, large kitchenware or mini appliances. Other amenities include new plumbing, tank-less water heater, private back yard and pre-wired in the bedrooms for internet, data, and cable, new appliances in kitchen, central air and heat, new double pane windows and sliding doors to enter backyard from master bedroom. Plans for a garage, extra unit, and parking lot are also available.
This property is also available for lease for $6,000 per month. 

Located in a quiet and desirable residential area (INRM Zoning).  It’s a safe and secure facility that provides a supporting and comfortable environment. Close to Fabulous Forum, Hollywood Park Casino and new upcoming NFL Rams Stadium. 

Posted in Commercial Property Sales, Commercial Real Estate, Inglewood, Owner/User, RE Investor Information, Real Estate Brokerage, Real Estate Investments Tagged with: , , , ,

Happy Holidays from Vars Real Estate

Happy Holidays Vars Real Estate

Happy Holidays from Vars Real Estate – Half Dome, Yosemite, January 1, 2017 (Jon Varsano)

Posted in Buyer Rep, Commercial Property Leasing, Commercial Property Loans, Commercial Property Sales, Commercial Real Estate, Crenshaw/Hyde Park, Culver City, Inglewood, Landlord Rep, Los Angeles Real Estate, Mar Vista, Marina del Rey/Playa del Rey, Market Reports, Mid City Los Angeles, Owner/User, Palms, Playa Vista, Property Management, RE Investor Information, Real Estate Brokerage, Real Estate Investments, San Fernando Valley, Seller Rep, Tenant Rep, Westchester Tagged with: , , , ,

Medical/Residential Home Available for Sale or Lease in Inglewood

654 Aerick Street, Inglewood, CA 90301 – 4 bedroom, 3 bathroom, 1778 square foot single level home in R-M (Residential Medical) zoned Inglewood. The INRM zone allows for hospitals, convalescent facilities, residential care facilities for the elderly and chronically ill, licensed residential hospices and home health agencies, orphanages, group homes or half-way houses, and nursery schools. The property has great potential to conversion to a 6 to 8 bed RCFE. The income potential is $6,000 to $8,000 per month depending on the intended use.

There are currently tenants on a month to month basis, but the property will be delivered vacant or occupied. A remodeled multi-purpose property like this rarely comes on the market. Please do not attempt to access the property. Drive by only and make an appointment to tour the facility.

This bright and cheerful home has a large living room with vaulted ceilings and extended dining room with an open kitchen. Kitchen is complete with island in middle, breakfast bar and plenty of storage for pots, pans, large kitchenware or mini appliances. Other amenities include new plumbing, tank-less water heater, private back yard and pre-wired in the bedrooms for internet, data, and cable, new appliances in kitchen, central air and heat, new double pane windows and sliding doors to enter backyard from master bedroom. Plans for a garage, extra unit, and parking lot are also available.

Located in a quiet and desirable residential area (INRM Zoning). It’s a safe and

secure facility that provides a supporting and comfortable environment. Close to Fabulous Forum, Hollywood Park Casino and new upcoming NFL Rams Stadium.

Offered for sale at $799,000 or for lease at $6,000 a month.

 

Posted in Commercial Property Sales, Inglewood, Seller Rep Tagged with: , , , , , , ,

Vars Real Estate Subleases Office in 101 Tech Corridor

Vars Real Estate subleased office space at 5115 Douglas Fir Drive, Calabasas, CA 91302.  Jon Varsano represented both parties, ACI Commlunictions (the Subleasor) and the Sublessee, Comet Star Shop (http://stores.ebay.com/Comet-Star-Shop) which is an e-commerce business affiliated with E-Bay and Amazon.com.  The building is a garden style office which is beautifully landscaped and located near the Calabasas Commons and Lamborghini dealership.  Price and terms of the deal are undisclosed.  

Vars Real Estate has vast experience in the Southern California Real Estate Market and we employ numerous tactics to ensure the highest returns for our clients. We build wealth through market intelligence, savvy negotiation, and deliberate patience. We lease your vacancies at the highest market value in the fastest time possible through the use of the latest technologies and old fashioned hard work. Whether you are a Buyer, Seller, Tenant, or Landlord, we provide the highest quality commercial real estate services for you. Please visit our website below…

Vars Real Estate Website

Posted in Commercial Property Leasing, Commercial Real Estate, Landlord Rep, Real Estate Brokerage, San Fernando Valley, Tenant Rep Tagged with: , , , , ,

Charming Office Space at 5115 Douglas Fir Drive, Calabasas, CA

Single story garden style office building with 2 parking spaces and plenty of visitor and street parking. 927 square foot office with private entrance, central air and heat, security gate, ceiling speakers, data/phone cable line, and water cooler line. $1350.50 per month sublease and utilities are additional $270 per month. Second year rent increase of 4%.

Minutes from the 101 Freeway, close to Calabasas Commons (some restaurants include Marmalade Cafe, Le Pain Quotidien, Sugarfish, and King’s Fish House), Lovi’s Delicatessen and Lamborghini dealership.

Vars Real Estate has vast experience in the Southern California Real Estate Market including but not limited to Culver City and we employ numerous tactics to ensure the highest returns for our clients. We build wealth through market intelligence, savvy negotiation, and deliberate patience. We lease your vacancies at the highest market value in the fastest time possible through the use of the latest technologies and old fashioned hard work. Whether you are a Buyer, Seller, Tenant, or Landlord, we provide the highest quality commercial real estate services for you. Please visit our website below…

Vars Real Estate Website

Posted in Commercial Property Leasing, Commercial Real Estate, Landlord Rep, San Fernando Valley Tagged with: , , , , , , , , , ,

Kumon finds a new location in Venice with the help of Vars Real Estate

Kumon has just leased a new office space at 2419 Lincoln Blvd in Venice with the help of Vars Real Estate Associate, Andrea Bartalsky. Dagnachew Teshome is the owner of the franchise location and has eagerly opened his doors for business as of July 31st, 2017 at the very busy signalized intersection of Lincoln Blvd and Venice Blvd. The space was originally a plain vanilla shell, but with Dagnachew Teshome’s  vision of success, he has been able to transform the place into an inviting and inspiring space for kids!

Andrea Bartalsky of Vars Real Estate represented the tenant in negotiating the lease of the roughly 1,700SF of office space on behalf of Dagnachew Teshome.

Vars Real Estate has vast experience in the Southern California Real Estate Market and we employ numerous tactics to ensure the highest returns for our clients. We build wealth through market intelligence, savvy negotiation, and deliberate patience. We lease your vacancies at the highest market value in the fastest time possible through the use of the latest technologies and old fashioned hard work. Whether you are a Buyer, Seller, Tenant, or Landlord, we provide the highest quality commercial real estate services for you.

Vars Real Estate Website

 

Posted in Commercial Property Leasing, Commercial Real Estate, Los Angeles Real Estate, Tenant Rep Tagged with: , , , , , , , , , , , , , , ,

Vars Real Estate Hosts Grand Opening Celebration in Culver City

Vars Real Estate opened its doors to neighbors, buyers, sellers, landlords, and tenants of commercial real estate. After recently moving from only a few blocks away, it was a great way to welcome the commercial real estate brokerage to the surrounding neighborhood of Culver City. Friends, family, neighbors, and business associates in the Carlson Park, Veteran’s Park, and beyond enjoyed a free lunch and spoke about the always exciting real estate market. Jon Varsano of Vars Real Estate is excited to have a corner location on a signalized intersection with prominent signage since he knows that is highly valued for commercial properties. Vars Real Estate hopes that their new home will bring much success and offers an important service to the Culver City community and surrounding areas.

See photos of the event below.

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Posted in Commercial Real Estate, Culver City, Real Estate Brokerage Tagged with: , , ,

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