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2052 Century Park E, Los Angeles, CA

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2052 Century Park E

Los Angeles, CA 90067 - Century City Submarket

Property Type:Specialty Sub Type:Utility Sub-Station Status:Existing Year Built:1965
Stories:1 Typical Floor:22,325 SF Building Size:58,655 SF
For Sale Price:$57,000,000 Price/SF:$971.78
Cap Rate:-

Sale Notes:
Newmark Grubb Knight Frank is pleased to present this rare opportunity to acquire 2052 Century Park East, (hereafter the “Property”, “Project”,) a 58,655 square foot district energy facility located in the Century City area of Los Angeles, California. The Property is located on the east side of Century Park East, a major arterial within the Century City Business District. It is also immediately adjacent to Beverly Hills and within close proximity to Westwood, Hollywood and Santa Monica.

The Property is currently 100% occupied by Veolia Energy Los Angeles, a wholly owned subsidiary of Veolia (S&P ‘BBB/A-2’ and Moody’s ‘Baa1’), a leader in energy efficient solutions, water, wastewater, resource recovery and environmental management. Veolia, one of the main utility providers for Century City, occupies the majority of the Property and is bound by a long-term ground lease. Additionally, the Property includes approximately 7 miles of valuable subterranean multi-use infrastructure, currently used to deliver chilled water to various commercial properties in the Century City/Beverly Hills area. With 25 years of lease term remaining, this investment offers a secure, inflation protected income stream along with future property appreciation and development upside in a prime, proven location.

Newmark Grubb Knight Frank
Sean Fulp
(310) 407-6596

Newmark Grubb Knight Frank
Geoffrey M Kasselman
(773) 957-1426

Newmark Grubb Knight Frank
David Colen
(212) 372-2327

Alex Foshay

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