RUNWAY

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for

sale Runway (the “Property”), a trophy mixed-use investment opportunity located

in the heart of the Playa Vista master planned community. Runway is comprised

of 420 luxury residences amongst ±246k SF of marquee retail, dining and medical

office space, anchored by the most visited Whole Foods in West LA, creating the

ideal live-work-play environment.

Completed in 2014-2015 and situated just 1-mile from the magnificent Pacific

Ocean, Runway is a transformative development to the vast master planned

community of Playa Vista, creating a town-center and economic hub, a key

catalyst in the community’s impressive ±348% population growth over the past

two and a half decades. Designed as SoCal’s premiere lifestyle destination, Runway

benefits from an ideal mix of nationally recognized tenants including Whole Foods,

Cinemark, CVS Pharmacy and Starbucks, complemented by a curated offering of

local and regional brands. Situated above the bustling ground-floor commercial

is a ±33k SF state-of-the-art Cedars-Sinai medical office, resulting in a diverse and

durable mix of income sources.

Runway has become a top destination for Los Angeles’ most affluent technology

and STEM households, evidenced by the Community’s impressive $451k average

annual household income (13% RTI Ratio). Tenant employers include Meta,

Google, Microsoft, SpaceX, and Apple, with greater Playa Vista home to 2.9M SF

of premiere office space occupied by an array of Los Angeles’ top employers.

The residential community is divided nearly evenly into northern and southern

portions, with each half serviced by a dedicated resident lounge, large saltwater

pool & spa, fitness center, and plethora of outdoor BBQ and dining nooks. As a

result, Runway is in the 96th percentile in Southern CA in terms of market rent per

SF for mid-rise product, with achieved rents up ±19% ($807/u) since 2021.

Runway continues the legacy of innovation and excellence established by

Howard Hughes, who’s famed aerospace empire once inhabited Playa Vista. Few

opportunities ever arise to acquire a fee simple interest in an asset as pivotal and

important to the success of a high performing coastal technology community.