Local Collaborative | Beach-centric Co-working Office Space

Site Context

Local Collaborative (“Local”) is craft co-working business venture that aims to provide high quality, synergistic office space in Los Angeles’ beach communities.  Local’s flagship location is ideally situated steps from the ocean in Hermosa Beach.

Beach City Capital is offering the opportunity to invest in this Project with a five-year Debt Note that has a three-year minimum and can be convertible to Equity after two-year company valuation.

Current market analysis indicates a strong demand for co-working spaces in the South Bay of Los Angeles, and a current lack of supply. This Local Collaborative co-working office in Hermosa Beach is 100% pre-leased for the next 3 years, but if you are interested in joining the waiting list, please reach out via email to invest@beachcitycapital.com.

Project Overview

Local Collaborative is excited to present the flagship location and the first of three co-working spaces to be released in 2021. Starting in Hermosa Beach and moving into Redondo and Manhattan Beach, these collaborative office spaces will harness the essence of the South Bay beach community. The first flagship location in Hermosa Beach is on schedule to be open for business in October 2021. All locations will be one block from the beach focusing heavily on design, art and technology, with modern furniture and innovative architecture to appeal to all business professionals.

Design

We have been working with world famous Gensler Architects and various consultants to refine space planning and the design of this Class A office build out. The project will create a total of 106 workstations for members to use 8 private offices, 1 conference room, 50 hot desks, and other amenities.

Existing Property Highlights:

  • Office space one block from the beach
  • 26 ft high ceilings, skylight, and built out private offices
  • Prime, downtown Hermosa Beach location
  • Walking distance to an abundance of retail amenities
  • One-of-a-kind historic building
  • Parking available in the structure next door
  • Lightwell and beautiful ornamental details

Co-working Market

The co-working sector has emerged as the primary growth driver within the U.S. office market. Expansion from this sector claimed more than a quarter of the total U.S. office absorption over the past 24 months. No segment of the market has demonstrated more overall growth than the co-working industry.

Co-working offers numerous benefits to business professionals, and research shows that people are more effective due to the energy and mindset adjustment that is generated by co-working. Other benefits include improving networks, reducing costs and adding flexibility to businesses, as well as access to Internet, printing, copying, mail services, office clean up, faxing, and amenities such as snacks and coffee.

Due to competitive and costly office space in Los Angeles, there is an increasing demand for flexible office spaces that include desks, meeting rooms, private offices and conference rooms.  The major companies offering co-working space in Los Angeles include WeWork, Cross Campus, NextSpace, Breather, Bizhaus, Unita, Spaces and El Camp.

The trend isn’t limited to the United States. Big corporate users pay lucrative monthly fees for large corporate spaces on flexible terms, often in multiple global locations. As coworking has moved well beyond mainstream status to become a global business practice, evidence has been mounting that providers must move beyond serving solo workers and freelancers in order to compete in the long run. For the immediate future, observers said the true picture points to steady demand growth as companies, preparing for downturns, seek out the flexibility that comes from not committing to big, long-term leases when times are uncertain.

Investment Deal Points

The Investment

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