Office Building for sale or Lease

Transcription

1 Offering Memorandum Office Building for sale or Lease 2260 Park Towne Circle, Sacramento, CA For further information, please contact: Ranga Pathak, Broker-Associate BRE Lic. No Tel: (916)

2 The Offering Executive Summary Executive Summary: RE/MAX Gold as exclusive agent is pleased to offer the opportunity to own a fee simple interest in the office building located at 2260 Park Towne Circle, in Sacramento County, Sacramento, CA. The property is currently leased to three tenants and is 88% occupied.it is a unique opportunity for an owner user to be able to occupy a portion of the building or an investor to acquire a mostly leased building. Dick James and Associates, a property management company established in 1994, which manages a portfolio of multifamily properties comprising approximately 8,500 units located in three states and 4 metropolitan areas, is headquartered in the building. Turning Point Community Programs is the other key tenant, that has been in business since 1976 and has a unique vision about offering caring, hope, respect and support to its clients on the path to recovery and mental health Park Towne Circle is a 18,354 s.f., two-story, elevator serviced building built in The property sits on 0.94 acres of land and has recently undergone significant recent improvements including a new roof. The property is centrally located in the Sacramento metropolitan area, with easy access to both the main Sacramento freeways, highways 80 and 50. It is in the vicinity of the Sacramento State University campus (CSUS), the regional Arden Fair Mall, the Country Club Mall, Del Paso Country Club and numerous other amenities and services. Winco recently moved into Country Club Mall and Cinema West 13, Rebounderz Indoor Trampouline & Flaming Grill Cafe are coming soon. Public transportation is available near the entrance to the property, making the building an attractive location for non profit and professional organizations. Investment Highlights: *Central Location in the Sacramento metropolitan area *Pricing well below replacement cost *Stable and Secure cash flow from credit tenants *Value add opportunity with potential to raise revenue as leases renew

3 The Offering Offering Summary Property Highlights 88% Leased, 2-story office building Owner User or Investor Opportunity Suites 102 (457 sf) & Suite 101 (1,714 sf) available now, are contiguous suites ideal for an Owner-User or Investor lease-up Priced below replacement cost Recent tenant improvements including new roof installed in 2017 Credit tenants on long term leases Value add opportunity as the leases expire Centrally located in Sacramento metropolitan area Minutes from California State University Sacramento Easy Access to freeways 80 and 50 Located just off a major artery with high traffic counts Public Transportation at the property entrance Across from Country Club Mall where Cinema West 13 will be opening in 01/2019 & Rebounderz Indoor Trampoline & Flaming Grill Cafe are coming in summer 2018 Near the Del Paso Country Club Easy access to the State Capitol, Sacramento Downtown & Midtown Building Signage Available

4 Market Overview Sacramento Profile Sacramento is the capital city of the U.S. state of California and the seat of government of Sacramento County. It is located at the confluence of the Sacramento River and the American River in the northern portion of California s expansive Central Valley. Sacramento is the sixth-largest city in California and the 35th largest city in the United States. Sacramento is the core cultural and economic center of the Sacramento metropolitan area which has an estimated population of 500,000 in Sacramento, and 2.50 million in the seven county region. The metropolitan area is the fourth largest in California after, as well as the 25th largest in the United States. Sacramento was cited by Time Magazine as America s most ethnically and racially integrated city in Sacramento is a transportation hub, served by an air cargo airport, an international airport, a deep-water shipping port, two major Interstate freeways, freight and passenger rail lines, and an extensive regional commuter bus and light-rail system. Sacramento itself is a cultural and recreational destination, with an orchestra, professional opera and ballet companies, numerous performing arts venues, a lively museum community including the oldest art museum west of the Mississippi River, professional sports, and endless opportunities for sporting and recreation activities. Sacramento is also rated: No. 1: California is one of the top 2 states in the US with Clean Economy Job Growth No. 1: In the world for Agriculture and Veterinary Sciences ( best-colleges/uc-davis) No. 4: U.S. Metro Clean Tech Index ( 2012summary.pdf), No. 5: U.S. cities with the fastest growth in tech jobs ( No. 6: Best Cities for Teleworking ( No. 9 City with best connectivity in U.S. ( Americas) No. 10: Best city for Women in the Workforce (

5 Market Overview Location Map

6 Market Overview Aerial View Anton Arcade Apartments Site Former Repositioning Opportunity Watt Avenue ADT 48,058 Coming soon! Coming soon! Coming soon!

7 Market Overview Sacramento Area Map

8 Property Information Building Information Rent Roll Expenses**

9 Property Information Building Information Suite 106 Suite 105 Suite 102 Available Office Office Suite Suite Available 507 s.f. Office Office Office Suite 100 First Floor Plan Suite 204 Suite 201 Suite 200 Second Floor Plan Fully Leased The information contained in this Offfering Memorandum has been obtained from sources deemed to be reliable. RE/MAX Gold has not verified and makes no guarantees, warranties or representations regarding the accuracy of the information. You need to conduct a careful, independent evaluation of the property to establish its suitability for your purposes.

10 Demographics Demographics The information contained in this Offfering Memorandum has been obtained from sources deemed to be reliable. RE/MAX Gold has not verified and makes no guarantees, warranties or representations regarding the accuracy of the information. You need to conduct a careful, independent evaluation of the property to establish its suitability for your purposes.