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316 - 324 S . G affey S t .
S A N P E D R O , CA 90731
Retail and Office
Spots Available
On San Pedro’s
Great Streets
550 Deep Valley Drive, Ste 359, Rolling Hills Estates 90274
For Sale or Lease
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182LAmove.com
CONTENTS
OVERVIEW 3
EXTERIOR PHOTOS 4
MAPS 5
AERIAL VIEWS 7
COMMUNITY OVERVIEW 9
GAFFEY “GREAT STREETS“ 10
DEVELOPMENT OPPORTUNITY 11
OUR TEAM 12
DISCLAIMER & 13
CONFIDENTIALITY AGREEMENT
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
2
OVERVIEW
Keller Williams Palos Verdes Realty, is pleased to announce the offering of 316-324
Gaffey St, for sale or lease. This is a commercial property on the main street in San
Pedro near much of the retail renewal and also a designated “Great Street” by the city of
Los Angeles.
Considered a “Walker’s Paradise” with a Walkscore of 93, this site is located in the heart
of San Pedro’s billion dollar city transformation. Additionally, it is just blocks away from the
highly anticipated San Pedro Public Market, a 30 acre water- front destination featuring a
15,000 square foot dining hall, shopping, recreation and entertainment venues. Major
employers in the vicinity include the Port of Los Angeles, Altsea and a large number of
Aerospace, Oil and Motor manufacturing companies.
316 S Gaffey St
• 850 square feet
• Rents for $2/SF
• Vacant
318 S Gaffey St
• 800 square feet
• Rents for $2/SF
• Vacant
320 S Gaffey St
• 800 square feet
• Rents for $2/SF
• Vacant
324 S Gaffey St
• 850 square feet
• Currently Rented for $1,713.61 per month
OFFERING SUMMARY
Purchase Price: $1,100,000
Lease Price: $2/SF
• Lots: +/-4,225 SF
• Building +/- 3,200.
• Zoning: C2-1VL-PIO
• TOC Tier 2
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
3
EXTERIOR PHOTOS
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
850 Square Feet 800 Square Feet 800 Square Feet
Can Combine
4
REGIONAL MAP
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
5
AREA MAP
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
6
AERIAL FACING NORTH EAST
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
Vincent Thomas Bridge
Battleship USS IOWA
Del Taco Completed 2018
7
AERIAL FACING SOUTH EAST
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
Pacific Ocean
Main Channel
8
SAN PEDRO, CA // Located on the southern end of the Palos Verdes Peninsula, San Pedro is one of the most historic and pic- turesque
regions in Los Angeles. It is situated at the end of the Harbor Freeway (110) and affords immediate access to the entire Southern
Freeway System. San Pedro offers a unique blend of small-town charm, superb cultural attractions,
eclectic shopping, and a world class cruise center. The city boasts more than three dozen restaurants in Downtown San Pedro & the LA
Waterfront alone. The San Pedro Historic Waterfront Business Improvement District provides the San Pedro Downtown Trolley, a free
rubber tired trolley that starts at the Ports O’Call Village and runs along the waterfront and Downtown San Pedro. Recognized as the
busiest passenger port of call of the United States West Coast, San Pedro is home to the Port of Los Angeles World Cruise Center, with
cruise ships departing from ports around the world.
COMMUNITY OVERVIEW
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
9
Gaffey Corridor
Gaffey Street is the entrance to San Pedro and is its main artery,
passing neighborhood restaurants and businesses as it makes its way
through San Pedro to the southern tip of Los Angeles. Great Streets
seeks to take advantage of existing improvements and planned
investment to transform Gaffey from an entrance into a gateway,
welcoming both residents and visitors to all that San Pedro offers.
Great Streets will work in partnership with the Los Angeles
Neighborhood Initiative and the community to finalize specific goals
and improvements to make Gaffey into a destination in its own right.
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
10
OVERVIEW
The intent of the supplemental
development regulations in Chapter III of
the CPIO is to create entryways into San
Pedro, as well as pedestrian-oriented
commercial districts that serve the daily
needs of residents, employees, and visitors.
These supplemental development
regulations create an active, pedestrian-
oriented street through building orientation,
publicly accessible open space, façade
articulation, and ground floor transparency
to commercial and community uses.
Projects within the Central Commercial
Subareas A shall comply with the applicable
supplemental development regulations in
Chapter III of the CPIO.
See Pages 19-27 of CPIO
Central Commercial A Subarea
Central Commercial A Subarea
Commercial Uses are
required on the Ground
Floor for a minimum of 75
percent of the length of any
new Primary Frontage.
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT OPPORTUNITY
11
OUR TEAM
LEE WILLIAMS
Senior Associate
Direct :(310) 400-6389
LeeWilliams@kw.com
Lee Williams brings over two decades of solid mortgage banking, investing and real
estate expertise to The Williams Group at Keller Williams Realty. Throughout his
award-winning real estate career, Lee has gained an indispensable understanding of
issues facing the housing market, the mortgage finance industry, including helping
folks buy their first home, investment properties and their last home.
Lee is active in the community and volunteers his time to local charities, including groups
focused on youth development and supporting folks fighting cancer. Lee is also on the NW San
Pedro Neighborhood Council for the City of Los Angeles.
Sara Gasperov
Transaction Coordinator
Tatjana Chahine
Marketing Director
Lori Roodhuyzen
Market Center Admin
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
12
DISCLAIMER & CONFIDENTIALITY AGREEMENT
Keller Williams Palos Verdes Realty (KWPV) is independently owned and operated. KWPV and the owner (“Owner”) of the property referenced herein (“Property”)
present this Confidential Offering Memorandum (“Memorandum”) to assist the recipient(s) (“You” or “Your”) in evaluating the Property and it is intended solely for
Your limited use in determining whether you desire to acquire the Property. This Memorandum contains brief, selected information pertaining to the Property and
should not be considered all-inclusive or permanent. The information in this Memorandum has been obtained from sources believed to be reliable, but KWPV have
not verified it and Owner, KWPV do not make any guaranty, warranty or representation, express or implied, as to the accuracy or completeness of this Memorandum
or the information contained herein.
You should independently verify each item of information in this Memorandum and have the same reviewed by your tax or investment advisor and/or legal counsel.
This Memorandum and any communications You may have with KWPV and/or Owner and their respective officers, brokers, agents or employees regarding this
Memorandum or the Property does not in any way constitute any legal, investment or tax advice to You. All assumptions, projections, estimates and/or opinions in
this Memorandum are provided as examples only and all information is subject to change, error, omissions and/or withdrawal without notice. Any references in the
Memorandum to area, height, acreage, building or premises size or square footage are approximations only and should be independently verified by You. Any refer-
ences in the Memorandum to any lease or tenant information, including without limitation the premises, rental rates, rent escalations, common area expenses, per-
centage rents and lease maturities should be independently verified by You. You should conduct your own investigations and due diligence of the Property, including
without limitation environmental and physical condition inspections and reach your own conclusions regarding the suitability of the Property for investment.
KWPV and Owner assume no responsibility for the accuracy or completeness of any information in this Memorandum. KWPV and Owner expressly disclaim any im-
plied or expressed warranties of merchantability, fitness for a particular purpose or non-infringement of intellectual property relating to this Memorandum. In no event
shall KWPV or Owner be liable for any damages resulting from the reliance on or use of any information in this Memorandum, including but not limited to direct,
special, indirect, consequential or incidental damages.
By accepting receipt of this Memorandum, You agree to the following: (a)This Memorandum is of a highly confidential nature, will be held in the strictest confidence
and shall be returned to KWPV upon request; (b) You shall not contact any property manager, contractor, employee or tenant of the Property regarding the Property
or this Memorandum, without prior approval of KWPV or Owner; and (c) You understand and agree that KWPV represents Owner and not You and (iv) this Memo-
randum and this information contained therein shall not be used by You in any way that is detrimental to Owner, KWPV. Neither KWPV nor Owner shall have any
obligation to pay any commission, finder’s fee, or any other compensation to any broker or other person. You may provide information to persons retained by You to
evaluate the Property only after first obtaining a signed confidentiality agreement from such persons and providing a copy of such agreement to KWPV.
The Owner expressly reserves the right, at its sole and absolute discretion, to reject any or all expressions of interest or offers to Purchase or Lease the Property, and/
or to terminate discussion with You or any other person or entity at any time with or without notice which may arise as a result of review of the Memorandum.
The Owner shall have no legal commitment or obligation to You or any person or entity reviewing this Memorandum or making an offer to purchase, lease, or finance
the Property unless and until written agreement(s) for the purchase or finance of the Property that are satisfactory to Owner in its sole and absolute discretion have
been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
13
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
SAN PEDRO
CPIO
Central Commercial A Subarea
Buyer to conduct their own due diligence with a recommendation to use licensed and
knowledgeable professionals. This summary is incomplete and non-binding.
ALLOWABLE USES:
• Automotive Storage
• Automotive Usage
• Drive-Thru Establishment
• Commercial and Retail
REQUIRED USES:
• Commercial Uses are required on
the Ground Floor for a minimum of
75 percent of the length of any
new Primary Frontage.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Projects in the Central Commercial Subareas are subject to the
following development standards:
Building Height. In addition to any regulations set forth by the
underlying zone and the LAMC, Projects shall comply with the
following building height regulations:
(a) The Ground Floor shall have a minimum height of 14
feet, measured from the finished floor to the underside of
the structural floor or roof above.
(b) The maximum height shall be 45 feet.
Where a parcel is either abutting or across an alley from either a
residentially zoned lot or a lot within a Historic Preservation
Overlay Zone, the building height shall be stepped-back within a
45 degree angle as measured 15 feet above grade at the property
line of the lot in residential zone or Historic Preservation Overlay
Zone. Projects on a slope shall be calculated at the lowest grade.
Building Density & Intensity. In addition to any regulations set forth by the underlying zone and the LAMC,
Projects shall comply with the following building density and intensity regulations:
• The maximum FAR shall be 1.5:1.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Building Design. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall
comply with the following building design regulations:
1. For new construction, the exterior wall of any building or parking structure shall be located not more than
five feet from the Primary Lot Line, except that exterior walls may be more than five feet from the Primary
Lot Line when the setback area is used for open space consistent with Subsection E, and/or landscaping.
2. For Automotive Uses, Automobile Storage, and Drive-thru Establishments, a minimum 10-foot-high
masonry wall shall be maintained at any property line adjacent to an R Zone, except when the property is
located across a street.
3. For new construction, at least 60 percent of the Primary Frontage at the Ground Floor shall consist of
doors and windows. Windows and doors shall allow views into building interiors and/or to merchandise
displays. A minimum of 70 percent of window bases shall be set at a maximum of three feet as measured
from finished grade.
4. Glass as part of the external façade of buildings shall be no more reflective than necessary to comply with
Green Code or other state or local UV requirements.
5. The exterior façade of buildings five stories or less shall incorporate no more than three complementary
building materials, including but not limited to glass, tile, masonry, smooth stucco, or stone.
6. Heavily textured stucco is prohibited.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Building Disposition. In addition to any regulations set forth by the underlying zone
and the LAMC, Projects involving new construction shall comply with the following
building disposition regulations:
1. Buildings and parking structures shall occupy 100 percent of the length of the Primary Lot Line, except to
provide required driveways and open space consistent with Subsection E. Additionally, one walkway, not
to exceed ten feet in width, shall be permitted for every 200 linear feet of frontage.
2. Commercial Uses located on the Ground Floor shall have an entrance directly accessible from an Arcade,
a street, or open space consistent with Subsection E, without the need to cross a parking lot or driveway.
3. Each residential unit on the Ground Floor shall be directly accessible from the street, without the need to
cross a parking lot or driveway.
4. Individual entrances to each unit shall be set back a minimum of three feet from the sidewalk.
5. Individual entrances to each unit shall be a maximum of three feet above or below sidewalk grade.
6. 6. Projects with rear lot lines abutting a public right-of-way or a parking lot shall incorporate clearly
defined pedestrian entrances at the rear of the building.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Publicly Accessible Open Space.
In addition to any regulations set forth by the underlying zone and the LAMC, Projects involving new
construction shall comply with the following publicly accessible open space regulations:
1. Projects on properties that front 200 feet or more of a single street shall include open space that is all of
the following:
a. A minimum of 5,000 square feet;
b. Located on the ground level with direct pedestrian connection to the adjacent street;
c. Unenclosed by any wall, fence, gate, or other obstruction;
d. Lined with Ground Floor tenant spaces usable for retail uses, including one or more restaurants,
along at least 20 percent of the building frontage that abuts the open space;
e. At least 40 percent landscaped with usable lawn or similar usable groundcover or artificial grass, or
with plant materials that are low maintenance, and native or drought tolerant; and
f. Improved with Pedestrian Amenities.
2. Projects on properties that front less than 200 feet of a single street shall provide open space at a rate of
one square foot per 100 square feet of nonresidential floor area up to 5,000 square feet. The open space
shall incorporate publicly accessible open space that is visible and accessible from the sidewalk and that
includes Pedestrian Amenities and/or landscaped areas.
3. Projects required to provide open space under LAMC Section 12.21.G, may reduce the required open
space by up to 50 percent if the Project includes open space that meets at least five requirements listed in
Subparagraph E.1.
4. Any open space required or regulated pursuant to this Subsection E shall be accessible to the public
during business hours.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Parking and Vehicular Access. In addition to any regulations set forth by the underlying zone and the LAMC,
Projects shall comply with the following parking and vehicular access regulations:
1. Required Parking.
(a) For Projects on 6th Street or 7th Street, no additional parking shall be required for any change of
use in an existing building provided any on-site parking is maintained and the use is not prohibited
by this CPIO.
2. Parking Location and Access.
a) For new construction, vehicle parking areas are prohibited between the Primary Frontage and the
Primary Lot Line. Surface parking shall be located at the rear or side of buildings on the site.
b) For new construction, at-grade or above-grade parking structures shall prohibit parking, storage,
mechanical equipment, or similar uses, improvements and equipment, on the Ground Floor abutting
a street. Such parking structures shall be visually compatible with other structures associated with the
Project, in terms of material, color, and other design elements.
c) For new construction, side streets and alleys shall provide the primary point of vehicular access for
service and parking facilities, unless determined infeasible by the Director of Planning, in
consultation with the Los Angeles Department of Transportation.
d) There shall be no more than one driveway per 200 feet of linear frontage for a single development.
Each driveway shall not exceed 30 feet in width, unless determined infeasible by the Director of
Planning, in consultation with the Los Angeles Department of Transportation.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Landscaping. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall
comply with the following landscaping regulations:
1. Along any property lines that abut residential uses, Projects shall provide a landscaped buffer area, a
minimum depth of two feet, that is planted with trees or vegetation (such as bamboo) that grow to a
minimum of ten feet.
2. Where a surface parking lot abuts the public right-of-way, Projects shall provide a landscaped buffer, a
minimum depth of two feet, that is located between the parking areas and the property line. The
landscaped buffer area should contain 24-inch box trees planted at ratio of one tree for every ten linear
feet. Required trees shall measure a minimum of two inches in trunk diameter and ten feet in height at the
time of planting.
3. All areas of a site not occupied by buildings, driveways, or open space consistent with Subsection E, shall
be landscaped. Eighty percent of landscaped areas shall consist of plant materials that are low
maintenance, and native or drought tolerant.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Signage. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply
with the following signage regulations:
1. The following types of signs are prohibited: billboards; pole signs; banners; illuminated architectural
canopy signs; inflatable devices; digital, flashing, animated, blinking, or scrolling signs or signs that move;
canister wall or canister blade signs; and signs with pliable vinyl letters.
2. Each Premises shall be permitted one wall sign. An additional wall sign is permitted if the Premises abuts
another street, alley, or public parking area. Each additional wall sign shall be located on the additional
frontage.
3. The total sign area of wall signs shall not exceed 1.5 square feet per each foot of building frontage, up to a
maximum size of 100 square feet total. Wall signs facing alleys or parking areas shall not exceed five
square feet.
4. In lieu of a wall sign, each Premises shall be permitted one awning sign, to be located over a building or a
business entrance. An additional awning sign is permitted in lieu of a permitted wall sign if the Premises
abuts another street, alley, or public parking area. Sign letters shall be located on valences only, and letter
height should not exceed ten inches.
5. Each Premises on the Ground Floor shall be permitted one Pedestrian Sign, limited to a maximum of six
square feet in size. Except that each Premises that is located above the first floor may have a Pedestrian
Sign on the ground level if there is direct exterior pedestrian access to the second floor business space.
6. Where multiple businesses exist, there shall be no more than one projecting sign for every 25 linear feet of
Primary Frontage.
7. Window signs shall not exceed ten percent of the total window area. In no case shall a window sign
exceed four square feet.
8. One monument sign shall be permitted per residential development, and shall be not more than ten
square feet in size and the top of the sign shall not be more than eight feet above sidewalk grade.
9. Signs facing alleys or residentially zoned areas shall not be internally illuminated.
Central Commercial A Subarea
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com
DEVELOPMENT STANDARDS
Appurtenances. In addition to any regulations set forth by the underlying zone and the
LAMC, Projects shall comply with the following appurtenance regulations:
1. Projects shall provide ancillary lighting along pedestrian and vehicular access ways.
2. Projects are prohibited from using any of the following fencing materials: chain link, barbed wire,
razor wire, corrugated metal, and other similar fencing materials.
3. Appurtenant structures, improvements and equipment, including but not limited to, utility
equipment, exterior mechanical equipment (including HVAC equipment, satellite dishes and cellular
antennas), storage areas, and dumpsters, shall not be visible from public rights-of-way and shall be
placed and improved as follows:
a. At the rear of the site and be enclosed or screened with landscaping;
b. On the roof and be screened with materials that are architecturally integrated into the building;
c. If feasible, underground.
4. Utility lines shall be placed underground for all new construction subject to site plan review pursuant
to LAMC Section 16.05, to the satisfaction of the Los Angeles Department of Water and Power.
5. Utility boxes or facilities, including electrical transformers, shall be installed below grade, if feasible,
to the satisfaction of the Los Angeles Department of Water and Power.
6. No mechanical equipment (such as, air conditioners) shall be permitted in window or door
openings.
Public Improvements. In addition to any regulations set forth by the underlying zone and the LAMC, Projects
shall comply with the following public improvement regulations:
1. For Projects with new construction subject to any discretionary review, street trees shall be planted in
the adjacent public right-of-way, where feasible, at a ratio of at least one tree for every 25 feet of lot
length, to the satisfaction of the Bureau of Street Services.
2. Per LAMC Section 62.08, the San Pedro CPIO shall be treated as a specific plan subject to its
provisions.
DISCLAIMER & CONFIDENTIALITY AGREEMENT
Keller Williams Palos Verdes Realty (KWPV) is independently owned and operated. KWPV and the owner (“Owner”) of the property referenced herein (“Property”)
present this Confidential Offering Memorandum (“Memorandum”) to assist the recipient(s) (“You” or “Your”) in evaluating the Property and it is intended solely for
Your limited use in determining whether you desire to acquire the Property. This Memorandum contains brief, selected information pertaining to the Property and
should not be considered all-inclusive or permanent. The information in this Memorandum has been obtained from sources believed to be reliable, but KWPV have
not verified it and Owner, KWPV do not make any guaranty, warranty or representation, express or implied, as to the accuracy or completeness of this Memorandum
or the information contained herein.
You should independently verify each item of information in this Memorandum and have the same reviewed by your tax or investment advisor and/or legal counsel.
This Memorandum and any communications You may have with KWPV and/or Owner and their respective officers, brokers, agents or employees regarding this
Memorandum or the Property does not in any way constitute any legal, investment or tax advice to You. All assumptions, projections, estimates and/or opinions in
this Memorandum are provided as examples only and all information is subject to change, error, omissions and/or withdrawal without notice. Any references in the
Memorandum to area, height, acreage, building or premises size or square footage are approximations only and should be independently verified by You. Any refer-
ences in the Memorandum to any lease or tenant information, including without limitation the premises, rental rates, rent escalations, common area expenses, per-
centage rents and lease maturities should be independently verified by You. You should conduct your own investigations and due diligence of the Property, including
without limitation environmental and physical condition inspections and reach your own conclusions regarding the suitability of the Property for investment.
KWPV and Owner assume no responsibility for the accuracy or completeness of any information in this Memorandum. KWPV and Owner expressly disclaim any im-
plied or expressed warranties of merchantability, fitness for a particular purpose or non-infringement of intellectual property relating to this Memorandum. In no event
shall KWPV or Owner be liable for any damages resulting from the reliance on or use of any information in this Memorandum, including but not limited to direct,
special, indirect, consequential or incidental damages.
By accepting receipt of this Memorandum, You agree to the following: (a)This Memorandum is of a highly confidential nature, will be held in the strictest confidence
and shall be returned to KWPV upon request; (b) You shall not contact any property manager, contractor, employee or tenant of the Property regarding the Property
or this Memorandum, without prior approval of KWPV or Owner; and (c) You understand and agree that KWPV represents Owner and not You and (iv) this Memo-
randum and this information contained therein shall not be used by You in any way that is detrimental to Owner, KWPV. Neither KWPV nor Owner shall have any
obligation to pay any commission, finder’s fee, or any other compensation to any broker or other person. You may provide information to persons retained by You to
evaluate the Property only after first obtaining a signed confidentiality agreement from such persons and providing a copy of such agreement to KWPV.
The Owner expressly reserves the right, at its sole and absolute discretion, to reject any or all expressions of interest or offers to Purchase or Lease the Property, and/
or to terminate discussion with You or any other person or entity at any time with or without notice which may arise as a result of review of the Memorandum.
The Owner shall have no legal commitment or obligation to You or any person or entity reviewing this Memorandum or making an offer to purchase, lease, or finance
the Property unless and until written agreement(s) for the purchase or finance of the Property that are satisfactory to Owner in its sole and absolute discretion have
been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
Lee Williams
Senior Associate
310.400.6389
LeeWilliams@kw.com
CA DRE #01726182
LAmove.com

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316 s gaffey st

  • 1. 316 - 324 S . G affey S t . S A N P E D R O , CA 90731 Retail and Office Spots Available On San Pedro’s Great Streets 550 Deep Valley Drive, Ste 359, Rolling Hills Estates 90274 For Sale or Lease Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182LAmove.com
  • 2. CONTENTS OVERVIEW 3 EXTERIOR PHOTOS 4 MAPS 5 AERIAL VIEWS 7 COMMUNITY OVERVIEW 9 GAFFEY “GREAT STREETS“ 10 DEVELOPMENT OPPORTUNITY 11 OUR TEAM 12 DISCLAIMER & 13 CONFIDENTIALITY AGREEMENT Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 2
  • 3. OVERVIEW Keller Williams Palos Verdes Realty, is pleased to announce the offering of 316-324 Gaffey St, for sale or lease. This is a commercial property on the main street in San Pedro near much of the retail renewal and also a designated “Great Street” by the city of Los Angeles. Considered a “Walker’s Paradise” with a Walkscore of 93, this site is located in the heart of San Pedro’s billion dollar city transformation. Additionally, it is just blocks away from the highly anticipated San Pedro Public Market, a 30 acre water- front destination featuring a 15,000 square foot dining hall, shopping, recreation and entertainment venues. Major employers in the vicinity include the Port of Los Angeles, Altsea and a large number of Aerospace, Oil and Motor manufacturing companies. 316 S Gaffey St • 850 square feet • Rents for $2/SF • Vacant 318 S Gaffey St • 800 square feet • Rents for $2/SF • Vacant 320 S Gaffey St • 800 square feet • Rents for $2/SF • Vacant 324 S Gaffey St • 850 square feet • Currently Rented for $1,713.61 per month OFFERING SUMMARY Purchase Price: $1,100,000 Lease Price: $2/SF • Lots: +/-4,225 SF • Building +/- 3,200. • Zoning: C2-1VL-PIO • TOC Tier 2 Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 3
  • 4. EXTERIOR PHOTOS Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 850 Square Feet 800 Square Feet 800 Square Feet Can Combine 4
  • 5. REGIONAL MAP Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 5
  • 6. AREA MAP Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 6
  • 7. AERIAL FACING NORTH EAST Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com Vincent Thomas Bridge Battleship USS IOWA Del Taco Completed 2018 7
  • 8. AERIAL FACING SOUTH EAST Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com Pacific Ocean Main Channel 8
  • 9. SAN PEDRO, CA // Located on the southern end of the Palos Verdes Peninsula, San Pedro is one of the most historic and pic- turesque regions in Los Angeles. It is situated at the end of the Harbor Freeway (110) and affords immediate access to the entire Southern Freeway System. San Pedro offers a unique blend of small-town charm, superb cultural attractions, eclectic shopping, and a world class cruise center. The city boasts more than three dozen restaurants in Downtown San Pedro & the LA Waterfront alone. The San Pedro Historic Waterfront Business Improvement District provides the San Pedro Downtown Trolley, a free rubber tired trolley that starts at the Ports O’Call Village and runs along the waterfront and Downtown San Pedro. Recognized as the busiest passenger port of call of the United States West Coast, San Pedro is home to the Port of Los Angeles World Cruise Center, with cruise ships departing from ports around the world. COMMUNITY OVERVIEW Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 9
  • 10. Gaffey Corridor Gaffey Street is the entrance to San Pedro and is its main artery, passing neighborhood restaurants and businesses as it makes its way through San Pedro to the southern tip of Los Angeles. Great Streets seeks to take advantage of existing improvements and planned investment to transform Gaffey from an entrance into a gateway, welcoming both residents and visitors to all that San Pedro offers. Great Streets will work in partnership with the Los Angeles Neighborhood Initiative and the community to finalize specific goals and improvements to make Gaffey into a destination in its own right. Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 10
  • 11. OVERVIEW The intent of the supplemental development regulations in Chapter III of the CPIO is to create entryways into San Pedro, as well as pedestrian-oriented commercial districts that serve the daily needs of residents, employees, and visitors. These supplemental development regulations create an active, pedestrian- oriented street through building orientation, publicly accessible open space, façade articulation, and ground floor transparency to commercial and community uses. Projects within the Central Commercial Subareas A shall comply with the applicable supplemental development regulations in Chapter III of the CPIO. See Pages 19-27 of CPIO Central Commercial A Subarea Central Commercial A Subarea Commercial Uses are required on the Ground Floor for a minimum of 75 percent of the length of any new Primary Frontage. Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT OPPORTUNITY 11
  • 12. OUR TEAM LEE WILLIAMS Senior Associate Direct :(310) 400-6389 LeeWilliams@kw.com Lee Williams brings over two decades of solid mortgage banking, investing and real estate expertise to The Williams Group at Keller Williams Realty. Throughout his award-winning real estate career, Lee has gained an indispensable understanding of issues facing the housing market, the mortgage finance industry, including helping folks buy their first home, investment properties and their last home. Lee is active in the community and volunteers his time to local charities, including groups focused on youth development and supporting folks fighting cancer. Lee is also on the NW San Pedro Neighborhood Council for the City of Los Angeles. Sara Gasperov Transaction Coordinator Tatjana Chahine Marketing Director Lori Roodhuyzen Market Center Admin Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 12
  • 13. DISCLAIMER & CONFIDENTIALITY AGREEMENT Keller Williams Palos Verdes Realty (KWPV) is independently owned and operated. KWPV and the owner (“Owner”) of the property referenced herein (“Property”) present this Confidential Offering Memorandum (“Memorandum”) to assist the recipient(s) (“You” or “Your”) in evaluating the Property and it is intended solely for Your limited use in determining whether you desire to acquire the Property. This Memorandum contains brief, selected information pertaining to the Property and should not be considered all-inclusive or permanent. The information in this Memorandum has been obtained from sources believed to be reliable, but KWPV have not verified it and Owner, KWPV do not make any guaranty, warranty or representation, express or implied, as to the accuracy or completeness of this Memorandum or the information contained herein. You should independently verify each item of information in this Memorandum and have the same reviewed by your tax or investment advisor and/or legal counsel. This Memorandum and any communications You may have with KWPV and/or Owner and their respective officers, brokers, agents or employees regarding this Memorandum or the Property does not in any way constitute any legal, investment or tax advice to You. All assumptions, projections, estimates and/or opinions in this Memorandum are provided as examples only and all information is subject to change, error, omissions and/or withdrawal without notice. Any references in the Memorandum to area, height, acreage, building or premises size or square footage are approximations only and should be independently verified by You. Any refer- ences in the Memorandum to any lease or tenant information, including without limitation the premises, rental rates, rent escalations, common area expenses, per- centage rents and lease maturities should be independently verified by You. You should conduct your own investigations and due diligence of the Property, including without limitation environmental and physical condition inspections and reach your own conclusions regarding the suitability of the Property for investment. KWPV and Owner assume no responsibility for the accuracy or completeness of any information in this Memorandum. KWPV and Owner expressly disclaim any im- plied or expressed warranties of merchantability, fitness for a particular purpose or non-infringement of intellectual property relating to this Memorandum. In no event shall KWPV or Owner be liable for any damages resulting from the reliance on or use of any information in this Memorandum, including but not limited to direct, special, indirect, consequential or incidental damages. By accepting receipt of this Memorandum, You agree to the following: (a)This Memorandum is of a highly confidential nature, will be held in the strictest confidence and shall be returned to KWPV upon request; (b) You shall not contact any property manager, contractor, employee or tenant of the Property regarding the Property or this Memorandum, without prior approval of KWPV or Owner; and (c) You understand and agree that KWPV represents Owner and not You and (iv) this Memo- randum and this information contained therein shall not be used by You in any way that is detrimental to Owner, KWPV. Neither KWPV nor Owner shall have any obligation to pay any commission, finder’s fee, or any other compensation to any broker or other person. You may provide information to persons retained by You to evaluate the Property only after first obtaining a signed confidentiality agreement from such persons and providing a copy of such agreement to KWPV. The Owner expressly reserves the right, at its sole and absolute discretion, to reject any or all expressions of interest or offers to Purchase or Lease the Property, and/ or to terminate discussion with You or any other person or entity at any time with or without notice which may arise as a result of review of the Memorandum. The Owner shall have no legal commitment or obligation to You or any person or entity reviewing this Memorandum or making an offer to purchase, lease, or finance the Property unless and until written agreement(s) for the purchase or finance of the Property that are satisfactory to Owner in its sole and absolute discretion have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com 13
  • 14. Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com SAN PEDRO CPIO Central Commercial A Subarea Buyer to conduct their own due diligence with a recommendation to use licensed and knowledgeable professionals. This summary is incomplete and non-binding.
  • 15. ALLOWABLE USES: • Automotive Storage • Automotive Usage • Drive-Thru Establishment • Commercial and Retail REQUIRED USES: • Commercial Uses are required on the Ground Floor for a minimum of 75 percent of the length of any new Primary Frontage. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Projects in the Central Commercial Subareas are subject to the following development standards: Building Height. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following building height regulations: (a) The Ground Floor shall have a minimum height of 14 feet, measured from the finished floor to the underside of the structural floor or roof above. (b) The maximum height shall be 45 feet. Where a parcel is either abutting or across an alley from either a residentially zoned lot or a lot within a Historic Preservation Overlay Zone, the building height shall be stepped-back within a 45 degree angle as measured 15 feet above grade at the property line of the lot in residential zone or Historic Preservation Overlay Zone. Projects on a slope shall be calculated at the lowest grade. Building Density & Intensity. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following building density and intensity regulations: • The maximum FAR shall be 1.5:1.
  • 16. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Building Design. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following building design regulations: 1. For new construction, the exterior wall of any building or parking structure shall be located not more than five feet from the Primary Lot Line, except that exterior walls may be more than five feet from the Primary Lot Line when the setback area is used for open space consistent with Subsection E, and/or landscaping. 2. For Automotive Uses, Automobile Storage, and Drive-thru Establishments, a minimum 10-foot-high masonry wall shall be maintained at any property line adjacent to an R Zone, except when the property is located across a street. 3. For new construction, at least 60 percent of the Primary Frontage at the Ground Floor shall consist of doors and windows. Windows and doors shall allow views into building interiors and/or to merchandise displays. A minimum of 70 percent of window bases shall be set at a maximum of three feet as measured from finished grade. 4. Glass as part of the external façade of buildings shall be no more reflective than necessary to comply with Green Code or other state or local UV requirements. 5. The exterior façade of buildings five stories or less shall incorporate no more than three complementary building materials, including but not limited to glass, tile, masonry, smooth stucco, or stone. 6. Heavily textured stucco is prohibited.
  • 17. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Building Disposition. In addition to any regulations set forth by the underlying zone and the LAMC, Projects involving new construction shall comply with the following building disposition regulations: 1. Buildings and parking structures shall occupy 100 percent of the length of the Primary Lot Line, except to provide required driveways and open space consistent with Subsection E. Additionally, one walkway, not to exceed ten feet in width, shall be permitted for every 200 linear feet of frontage. 2. Commercial Uses located on the Ground Floor shall have an entrance directly accessible from an Arcade, a street, or open space consistent with Subsection E, without the need to cross a parking lot or driveway. 3. Each residential unit on the Ground Floor shall be directly accessible from the street, without the need to cross a parking lot or driveway. 4. Individual entrances to each unit shall be set back a minimum of three feet from the sidewalk. 5. Individual entrances to each unit shall be a maximum of three feet above or below sidewalk grade. 6. 6. Projects with rear lot lines abutting a public right-of-way or a parking lot shall incorporate clearly defined pedestrian entrances at the rear of the building.
  • 18. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Publicly Accessible Open Space. In addition to any regulations set forth by the underlying zone and the LAMC, Projects involving new construction shall comply with the following publicly accessible open space regulations: 1. Projects on properties that front 200 feet or more of a single street shall include open space that is all of the following: a. A minimum of 5,000 square feet; b. Located on the ground level with direct pedestrian connection to the adjacent street; c. Unenclosed by any wall, fence, gate, or other obstruction; d. Lined with Ground Floor tenant spaces usable for retail uses, including one or more restaurants, along at least 20 percent of the building frontage that abuts the open space; e. At least 40 percent landscaped with usable lawn or similar usable groundcover or artificial grass, or with plant materials that are low maintenance, and native or drought tolerant; and f. Improved with Pedestrian Amenities. 2. Projects on properties that front less than 200 feet of a single street shall provide open space at a rate of one square foot per 100 square feet of nonresidential floor area up to 5,000 square feet. The open space shall incorporate publicly accessible open space that is visible and accessible from the sidewalk and that includes Pedestrian Amenities and/or landscaped areas. 3. Projects required to provide open space under LAMC Section 12.21.G, may reduce the required open space by up to 50 percent if the Project includes open space that meets at least five requirements listed in Subparagraph E.1. 4. Any open space required or regulated pursuant to this Subsection E shall be accessible to the public during business hours.
  • 19. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Parking and Vehicular Access. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following parking and vehicular access regulations: 1. Required Parking. (a) For Projects on 6th Street or 7th Street, no additional parking shall be required for any change of use in an existing building provided any on-site parking is maintained and the use is not prohibited by this CPIO. 2. Parking Location and Access. a) For new construction, vehicle parking areas are prohibited between the Primary Frontage and the Primary Lot Line. Surface parking shall be located at the rear or side of buildings on the site. b) For new construction, at-grade or above-grade parking structures shall prohibit parking, storage, mechanical equipment, or similar uses, improvements and equipment, on the Ground Floor abutting a street. Such parking structures shall be visually compatible with other structures associated with the Project, in terms of material, color, and other design elements. c) For new construction, side streets and alleys shall provide the primary point of vehicular access for service and parking facilities, unless determined infeasible by the Director of Planning, in consultation with the Los Angeles Department of Transportation. d) There shall be no more than one driveway per 200 feet of linear frontage for a single development. Each driveway shall not exceed 30 feet in width, unless determined infeasible by the Director of Planning, in consultation with the Los Angeles Department of Transportation.
  • 20. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Landscaping. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following landscaping regulations: 1. Along any property lines that abut residential uses, Projects shall provide a landscaped buffer area, a minimum depth of two feet, that is planted with trees or vegetation (such as bamboo) that grow to a minimum of ten feet. 2. Where a surface parking lot abuts the public right-of-way, Projects shall provide a landscaped buffer, a minimum depth of two feet, that is located between the parking areas and the property line. The landscaped buffer area should contain 24-inch box trees planted at ratio of one tree for every ten linear feet. Required trees shall measure a minimum of two inches in trunk diameter and ten feet in height at the time of planting. 3. All areas of a site not occupied by buildings, driveways, or open space consistent with Subsection E, shall be landscaped. Eighty percent of landscaped areas shall consist of plant materials that are low maintenance, and native or drought tolerant.
  • 21. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Signage. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following signage regulations: 1. The following types of signs are prohibited: billboards; pole signs; banners; illuminated architectural canopy signs; inflatable devices; digital, flashing, animated, blinking, or scrolling signs or signs that move; canister wall or canister blade signs; and signs with pliable vinyl letters. 2. Each Premises shall be permitted one wall sign. An additional wall sign is permitted if the Premises abuts another street, alley, or public parking area. Each additional wall sign shall be located on the additional frontage. 3. The total sign area of wall signs shall not exceed 1.5 square feet per each foot of building frontage, up to a maximum size of 100 square feet total. Wall signs facing alleys or parking areas shall not exceed five square feet. 4. In lieu of a wall sign, each Premises shall be permitted one awning sign, to be located over a building or a business entrance. An additional awning sign is permitted in lieu of a permitted wall sign if the Premises abuts another street, alley, or public parking area. Sign letters shall be located on valences only, and letter height should not exceed ten inches. 5. Each Premises on the Ground Floor shall be permitted one Pedestrian Sign, limited to a maximum of six square feet in size. Except that each Premises that is located above the first floor may have a Pedestrian Sign on the ground level if there is direct exterior pedestrian access to the second floor business space. 6. Where multiple businesses exist, there shall be no more than one projecting sign for every 25 linear feet of Primary Frontage. 7. Window signs shall not exceed ten percent of the total window area. In no case shall a window sign exceed four square feet. 8. One monument sign shall be permitted per residential development, and shall be not more than ten square feet in size and the top of the sign shall not be more than eight feet above sidewalk grade. 9. Signs facing alleys or residentially zoned areas shall not be internally illuminated.
  • 22. Central Commercial A Subarea Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com DEVELOPMENT STANDARDS Appurtenances. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following appurtenance regulations: 1. Projects shall provide ancillary lighting along pedestrian and vehicular access ways. 2. Projects are prohibited from using any of the following fencing materials: chain link, barbed wire, razor wire, corrugated metal, and other similar fencing materials. 3. Appurtenant structures, improvements and equipment, including but not limited to, utility equipment, exterior mechanical equipment (including HVAC equipment, satellite dishes and cellular antennas), storage areas, and dumpsters, shall not be visible from public rights-of-way and shall be placed and improved as follows: a. At the rear of the site and be enclosed or screened with landscaping; b. On the roof and be screened with materials that are architecturally integrated into the building; c. If feasible, underground. 4. Utility lines shall be placed underground for all new construction subject to site plan review pursuant to LAMC Section 16.05, to the satisfaction of the Los Angeles Department of Water and Power. 5. Utility boxes or facilities, including electrical transformers, shall be installed below grade, if feasible, to the satisfaction of the Los Angeles Department of Water and Power. 6. No mechanical equipment (such as, air conditioners) shall be permitted in window or door openings. Public Improvements. In addition to any regulations set forth by the underlying zone and the LAMC, Projects shall comply with the following public improvement regulations: 1. For Projects with new construction subject to any discretionary review, street trees shall be planted in the adjacent public right-of-way, where feasible, at a ratio of at least one tree for every 25 feet of lot length, to the satisfaction of the Bureau of Street Services. 2. Per LAMC Section 62.08, the San Pedro CPIO shall be treated as a specific plan subject to its provisions.
  • 23. DISCLAIMER & CONFIDENTIALITY AGREEMENT Keller Williams Palos Verdes Realty (KWPV) is independently owned and operated. KWPV and the owner (“Owner”) of the property referenced herein (“Property”) present this Confidential Offering Memorandum (“Memorandum”) to assist the recipient(s) (“You” or “Your”) in evaluating the Property and it is intended solely for Your limited use in determining whether you desire to acquire the Property. This Memorandum contains brief, selected information pertaining to the Property and should not be considered all-inclusive or permanent. The information in this Memorandum has been obtained from sources believed to be reliable, but KWPV have not verified it and Owner, KWPV do not make any guaranty, warranty or representation, express or implied, as to the accuracy or completeness of this Memorandum or the information contained herein. You should independently verify each item of information in this Memorandum and have the same reviewed by your tax or investment advisor and/or legal counsel. This Memorandum and any communications You may have with KWPV and/or Owner and their respective officers, brokers, agents or employees regarding this Memorandum or the Property does not in any way constitute any legal, investment or tax advice to You. All assumptions, projections, estimates and/or opinions in this Memorandum are provided as examples only and all information is subject to change, error, omissions and/or withdrawal without notice. Any references in the Memorandum to area, height, acreage, building or premises size or square footage are approximations only and should be independently verified by You. Any refer- ences in the Memorandum to any lease or tenant information, including without limitation the premises, rental rates, rent escalations, common area expenses, per- centage rents and lease maturities should be independently verified by You. You should conduct your own investigations and due diligence of the Property, including without limitation environmental and physical condition inspections and reach your own conclusions regarding the suitability of the Property for investment. KWPV and Owner assume no responsibility for the accuracy or completeness of any information in this Memorandum. KWPV and Owner expressly disclaim any im- plied or expressed warranties of merchantability, fitness for a particular purpose or non-infringement of intellectual property relating to this Memorandum. In no event shall KWPV or Owner be liable for any damages resulting from the reliance on or use of any information in this Memorandum, including but not limited to direct, special, indirect, consequential or incidental damages. By accepting receipt of this Memorandum, You agree to the following: (a)This Memorandum is of a highly confidential nature, will be held in the strictest confidence and shall be returned to KWPV upon request; (b) You shall not contact any property manager, contractor, employee or tenant of the Property regarding the Property or this Memorandum, without prior approval of KWPV or Owner; and (c) You understand and agree that KWPV represents Owner and not You and (iv) this Memo- randum and this information contained therein shall not be used by You in any way that is detrimental to Owner, KWPV. Neither KWPV nor Owner shall have any obligation to pay any commission, finder’s fee, or any other compensation to any broker or other person. You may provide information to persons retained by You to evaluate the Property only after first obtaining a signed confidentiality agreement from such persons and providing a copy of such agreement to KWPV. The Owner expressly reserves the right, at its sole and absolute discretion, to reject any or all expressions of interest or offers to Purchase or Lease the Property, and/ or to terminate discussion with You or any other person or entity at any time with or without notice which may arise as a result of review of the Memorandum. The Owner shall have no legal commitment or obligation to You or any person or entity reviewing this Memorandum or making an offer to purchase, lease, or finance the Property unless and until written agreement(s) for the purchase or finance of the Property that are satisfactory to Owner in its sole and absolute discretion have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. Lee Williams Senior Associate 310.400.6389 LeeWilliams@kw.com CA DRE #01726182 LAmove.com