Fwd: FW: Dev. Site on USC Fraternity Row, Los Angeles

[Nick Angelich]

Who wants to buy the Theta Parking lot?  RAUUUUULLLL

---------- Forwarded message ---------
From: Angelich, Nick <nang...@cwpla.com>
Date: Tue, Feb 2, 2021 at 1:38 PM
Subject: FW: Dev. Site on USC Fraternity Row, Los Angeles
To: Nicholas Angelich <nicholas...@gmail.com>

 

 

Nick Angelich

W: 213 629-9303

C: 310 463-2322

 

From: Laurie Lustig-Bower <Laurie.Lu...@cbre.com>
Sent: Tuesday, February 2, 2021 1:32 PM
To: Angelich, Nick <nang...@cwpla.com>
Subject: Dev. Site on USC Fraternity Row, Los Angeles

 

Click here to view with images. To ensure delivery to your inbox, please add Laurie.Lu...@cbre.com to your address book.     USC Fraternity Row Site For Sale ±0.29 Acre Development Site Walking Distance to the University of Southern California (USC) Transit Oriented Community (TOC) Tier 3 647 W. 28th St., Los Angeles, CA 90007 Seller will pay buyer's broker 2% commission       DOWNLOAD OFFERING MEMORANDUM AGREEMENT FOR DATA ROOM   CBRE, Inc., as exclusive agent is pleased to present for sale a ±12,831 square foot (±0.29 acre) infill multifamily development site with the potential to build approximately 46,000 square feet on Fraternity Row, adjacent to the University of Southern California (USC) in Los Angeles, California.  Located within walking distance of the USC campus at 647 W. 28th Street on “USC Fraternity Row”, the Property is a designated “Transit Oriented Community Tier 3” site.  The Property boasts a “Very Walkable” Walk Score of 88 out of 100 and a “Biker’s Paradise” Bike Score of 93 out of 100. USC Village shops, restaurants, and open space, and the Metro Expo Line are within short walking distance of the Property. The property is currently being used as a parking lot and is NOT encumbered by any leases. The USC multifamily submarket is severely undersupplied relative to current student enrollment and will continue to experience unmet need as student enrollment increases into the future.  The University of Southern California, currently enrolling 46,000 undergraduate, graduate, and professional students, is one the most prestigious universities in the United States. Along with its College of Letters, Arts, and Sciences the University features 22 professional schools and units, is allocated $891 million in annual sponsored research, and maintains a renowned athletics program.  USC has seen a 52% increase in first-year applications since 2011, is a top university destination for international student enrollment and is ranked #19 on the Wall Street Journal/Times Higher Education College Rankings 2021. USC has projected significant continued student enrollment growth through 2030. Between 75% and 80% of USC students live off-campus, and with enrollment comprised of more graduate and professional students than undergraduate students, the on-campus stock severely underserves the nearly 24,000 graduate students in particular with only 580 beds. The influx of students continues to fuel demand for off-campus housing near the school.  The Property is located within the USC Public Safety Patrol Area and is also within the USC Transportation Campus Cruiser service boundaries, one of the largest student-run safe ride home programs in the country. Offers Due: Friday, February 26, 2021 by 5:00 pm LOCATION HIGHLIGHTS     • Located within walking distance to University of Southern California (USC), a thriving, growing and international institution with a $5.7 billion endowment   • Located within the USC Public Safety Patrol Area. Rents for non-USC-owned off-campus housing inside the Public Safety-patrolled area have higher rents than apartments outside the zone    • Strong rental unit demand drivers    • USC experienced first-year application growth of 52% and first-year enrollment growth of 15% from Fall 2011 to Fall 2017    • Continued demand due to increasing university enrollment and shortage of student housing    • Only 30% of the student body are housed on campus leaving 33,000 students to find alternative living accommodations   • USC has projected significant continued student enrollment growth through 2030   • Located within the high barriers and high cost to entry Los Angeles and USC markets, which helps protect values    • Walking distance to USC Village shops and restaurants    • Located within the USC Transportation Campus Cruiser service boundaries, one of the largest student-run safe ride home programs in the country    • Convenient access to DASH transit shuttle, USC Tram and Metro Bus stops    • The Property boasts a “Very Walkable” Walk Score of 88 out of 100 and a “Biker’s Paradise” Bike Score of 93 out of 100    • The Metro Expo Line is within short walking distance of the Property   • USC has one of the most affluent student body populations in the country   DOWNLOAD  OFFERING MEMORANDUM   AGREEMENT FOR DATA ROOM WEBSITE   PLEASE CONTACT:   LAURIE LUSTIG-BOWER Executive Vice President +1 310 550 2556 laurie.lu...@cbre.com Lic. 00979360 KAMRAN PAYDAR First Vice President +1 310 550 2529 kamran...@cbre.com Lic. 01242590        www.28thUSC.com     Unsubscribe You may also unsubscribe by calling toll-free +1 877 CBRE 330 (+1 877 227 3330). Please consider the environment before printing this email. CBRE respects your privacy. A copy of our Privacy Policy is available online. For California Residents, our California Privacy Notice is available here. If you have questions or concerns about our compliance with this policy, please email PrivacyAdm...@cbre.com or write to Attn: Marketing Department, Privacy Administrator, CBRE, 200 Park Ave. 19-22 Floors, New York, NY 10166. Address: 1840 Century Park East Suite 900, Los Angeles CA 90067 THIS IS A MARKETING COMMUNICATION © 2021 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.     All of CBRE's COVID-19 related materials have been developed with information from the World Health Organization, the Centers for Disease Control & Prevention (and similar global organizations), public health experts, industrial hygienists, and global subject matter experts across CBRE and our strategic suppliers. Our materials may not be suitable for application to all facilities or situations. Ultimately, occupiers and landlords must make and implement their own reopening decisions for their individual stakeholders and facilities. CBRE's guidance is intended to help facilitate those discussions and expedite the implementation of those decisions once made by the client. We make no representations or warranties regarding the accuracy or completeness of these materials. CBRE cannot ensure safety and disclaims all liability arising from use of these materials.

 

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Nick Angelich

310 463-2322