HIGHEST ASSESSED PROPERTIES.

Ranked by total assessed value

EXECUTIVE SUMMARY

RISING real estate values have impacted the 25 highest assessed properties in L.A. County, whose total value exceeds $13.5 billion, up from $12.8 billion in 1998. There are eight oil-company sites in the top 25 and four hospitals, along with office buildings, entertainment facilities, studios, universities and museums.

The predominance of oil refineries and other industrial complexes among the county's highest assessed properties is explained by the value of fixtures and equipment located at these plants. The office towers on the list are there mainly because of high land values where they're built, combined with the value of the structures themselves.

Assessed property values are based on the land, improvements (building or structures), and the equipment and fixtures and natural resources on the property, like oil, precious art or expensive medical equipment.

The County Assessor's Office uses the totals to determine the amount of property tax each owner must pay. However, several of the county's most valuable properties, including the highest-valued Getty Center, are nonprofit entities and therefore exempt from property taxes.

THE PACESETTERS

J. PAUL GETTY CENTER

PR1ME real estate in the hills of Brentwood, a spare-no-expense architectural design by Richard Meier, and millions of dollars worth of art combine to make the J. Paul Getty Center the highest assessed property in Los Angeles County for the second year running.

Completed in 1997, the Getty Center has a total assessed value of almost $2 billion for 1999-2000. In addition to housing the Getty Museum, the site is also home to research and conservation facilities and the Getty Grant Program. The museum itself offers a wide range of public programs, including lectures, classes, films and performances, and houses the Getty collection of European paintings, drawings, sculpture, illuminated manuscripts, decorative arts, and European and American photographs.

Oil tycoon J. Paul Getty established a trust in 1953 to support an art museum as well as art research and conservation programs. Upon his death in 1976, most of Getty's personal wealth went to the trust At that time, trustees began to search for a piece of land that could host not only the museum, but also all of the trust's other rapidly growing programs. In 1983, a site was chosen atop the Sepulveda Pass with a panoramic view of the city. Meier was appointed architect in 1984, and Dinwiddie Construction Co. began preparing the land in September 1987. By the time the structure on the 110-acre campus was completed, total construction costs reached well over $1 billion.

Rank Property                                  Assessed Value [1]
     * name                                        (millions)
     * address                                     * 1999-00
                                                   * 1998-99
 1   J. Paul Getty Center                           $1,953.3
     1200 Getty Center Drive                        $1,175.6
     Los Angeles 90049
 2   Arco Refinery                                  1,068.5
     1801 E. Sepulveda Blvd.                          997
     Carson 90745
 3   Chevron Refinery                               1,041.6
     324 W. El Segundo Blvd.                        1,208.3
     El Segundo 90245
 4   Mobil Refinery                                 1,030.2
     3700 W. 190th St.                              1,080.7
     Torrance 90509
 5   J. Paul Getty Villa                             801.9
     17900 Pacific Coast Highway                     328.6
     Malibu 90265
 6   Anheuser Busch Brewery                          719.7
     15800 Roscoe Drive                              763.5
     Van Nuys 91406
 7   Ultramar Refinery                               684.1
     2402 E. Anaheim St.                             535.7
     Wilmington 90744
 8   University of Southern California               488.1
     3441 University Ave.                            508.6
     Los Angeles 90089
 9   Universal Studios [3]                           487.2
     3900 Lankeershim Blvd.                          541.2
     Universal City 91608
10   Universal Studios Hollywood/City Walk [3]        463
     100 Universal City Plaza                        462.5
     Universal City 91608
11   Cedar Sinai Medical Center                      454.2
     8720 Alden Drive                                458.8
     Los Angeles 90048
12   Arco Refinery [4]                               451.6
     1801 E. Sepulveda Blvd.                         208.3
     Carson 90745
13   Texaco Refinery                                 433.1
     2100 Pacific Coast Highway                      418.9
     Wilmington 90744
14   Tosco Refinery                                  427.4
     1660 W. Anaheim St.                             458.8
     Los Angeles 90710
15   California Institute of Technology              330.8
     1201 E. California Blvd.                        331.3
     Pasadena 91106
Rank             Priamry Use                    Profile
                                             * year built
                                          * exempt status [2]
 1        museum/research institute              1997
                                                  yes
 2            oil refinery plant                 1937
                                                  no
 3            oil refinery plant                 1911
                                                  no
 4            oil refinery plant                 1929
                                                  no
 5                  museum                       1973
                                                  yes
 6                 brewery                       1954
                                                  no
 7              refinery plant                   1981
                                                  no
 8                university                     1880
                                                  yes
 9      production facilities, offices           1930s
                                                  no
10   commerical and entertainment complex        1965
                                                  no
11                 hospital                      1977
                                                  yes
12            oil storage tanks                  1937
                                                  no
13            oil refinery plant                 1928
                                                  no
14            oil refinery plant                 1919
                                                  no
15                university                     1910
                                                  yes
Rank Owner
     * name
     * phone
 1   J. Paul Getty Trust
     [phone]
 2   Atlantic Richfield Co.
     [phone]
 3   Chevron USA
     [phone]
 4   Mobil Oil Corp.
     [phone]
 5   J. Paul Getty Trust
     [phone]
 6   Anheuser Busch Inc.
     [phone]
 7   Ultramar Inc.
     [phone]
 8   University of Southern California
     [phone]
 9   Universal Studios Inc.
     [phone]
10   Universal Studios Inc.
     [phone]
11   Cedars Sinal Medical Center
     [phone]
12   Atlantic Richfield Co.
     [phone]
13   Texaco Inc.
     [phone]
14   Tosco Corp.
     [phone]
15   California Institute of Technology
     [phone]
16 Hughes Electronics Complex            $316.5
   1520 E. El Segundo Blvd.              $300.5
   El Segundo 90245
17 McDonnell Douglas Complex             290.6
   3855 N. Lakewood Blvd.                 318
   Long Beach 90846
18 Arco Plaza                             287
   525 S. Flower St.                      287
   Los Angeles
19 Chevron Refinery Storage Facility [5] 277.1
   324 W. El Segundo Blvd.               252.6
   El Segundo 90245
20 SunAmerica Center                     273.9
   1999 Avenue of the Stars              250.6
   Century City 90067
21 Kaiser Foundation Hospital            268.3
   5601 De Soto Ave.                      259
   Woodland Hills
22 Fox Plaza                             257.7
   2121 Avenue of the Stars              263.6
   Centuryd City 90064
23 Kaiser Foundation Hospital            254.2
   1011 Baldwin Park Blvd.               226.2
   Baldwin Park 91706
24 Warner Bros. Studios                  251.9
   4000 Warner Blvd.                     242.3
   Burbank 91522
25 Long Beach Memorial Medical Center    235.4
   2801 Atlantic Ave.                    238.7
   Long Beach 90806
16               industrial               1980 Hughes Electronics Corp.
                                           no  [phone]
17 commercial and military aircraft plant 1940 The Boeing Corp.
                                           no  [phone]
18            office building             1971 Shuwa Investment Corp.
                                           no  [phone]
19           oil storage tanks            1911 Chevron USA
                                           no  [phone]
20            office building             1990 JMB Realty Corp.
                                           no  [phone]
21                hospital                1986 Kaiser Foundation Hospitals
                                          yes  [phone]
22            office building             1987 Marvin Davis Cos.
                                           no  [phone]
23                hospital                1991 Kaiser Foundation Hospitals
                                          yes  [phone]
24     production facilities, offices     1928 Time Warner Inc.
                                           no  [phone]
25                hospital                1960 Memorial Health Services
                                          yes  [phone]

(1.)Total assessed value including land, improvements, equipment and fixtures.

(2.)Exempt status refers to whether or not the property owner is exempt from paying property taxes.

(3.)The Universal Studios theme park covers parts of both of these Universal properties.

(4.)Property represented is adjacent to main Arco refinery but assessed as a separate land parcel.

(5.)Property represented is adjacent to main Chevron refinery but assessed as a separate land parcel.

Note: Data for this list was provided by Hdl Coren & Cone in Diamond Bar, [phone]. Further information was provided by representatives of the properties themselves. Properties are ranked by total assessed value for 1999-2000. This list was completed during the week of December 20, 1999.

To the best of our knowledge, this information is accurate as of press time. While every effort is made to ensure the accuracy and thoroughness of the list, omissions and typographical errors sometimes occur. Please send corrections or additions on company letterhead to the Research Department, Los Angeles Business Journal, 5700 Wilshire Blvd., Suite 170, Los Angeles 90036. (c)1999 Los Angeles Business Journal. This list may not be reprinted in whole or in part without prior written permission from the editor. Reprints are available from Publisher's Custom Reprints, [phone].