Falcon commerce park. a multi-tenant industrial condo & four single tenant building investment offering

Transcription

1 a multi-tenant industrial condo & four single tenant building investment offering Falcon commerce park mesa, arizona Exclusively Offered by: Paul Boyle Executive Vice President Rick Danis Executive Vice President

2 Exclusively Offered by: Paul Boyle Senior Vice President Rick Danis Senior Vice President

3 falcon commerce park TABLE OF CONTENTS EXECUTIVE SUMMARY PROPERTY OVERVIEW Building Specifications Area Aerials Site Plans Floor Plate AREA OVERVIEW MARKET COMPARABLES

4 the offering Falcon Commerce Park represents a unique opportunity for an investor to acquire a fully built-out industrial portfolio consisting of a multi-tenant complex and four (4) freestanding, single tenant buildings which are located in the East Mesa submarket. The buildings are well constructed and have individual parcel numbers enabling an investor the option of engaging in a lease-up or individual building resale program. Falcon Commerce Park has two characteristics which include: three (3) multi tenant buildings totaling 74,446 SF located at 1610, 1660 and 1750 North Rosemont and four (4) freestanding buildings totaling 63,936 (combined) SF located at North Rosemont and North Banning. The entire Falcon Commerce Park offering totals 138,382 SF. All units are fully improved with office build-outs, have outside fenced storage yards and are ready for immediate occupancy. Falcon Commerce Park is located in the East Mesa submarket and is part of the Falcon Field Business District, which is home to several large employers including the Boeing Company, Tally Defense Systems, Lockheed Martin, MD Helicopters, and Alliant Techsystems. MULTI TENANT INDUSTRIAL CONDOS North Rosemont - ±74,446 Total SF $6,250,000 ($83.95 PSF) FOUR FREESTANDING SINGLE TENANT BUILDINGS Total size North Rosemont North Banning ±63,936 Total SF $5,500,000 ($86.02 PSF) ±138,442 SF Year Built Zoning Parking total offering Price M-1, City of Mesa ±4.2 per 1,000 square foot $11,750,000 ($84.91 PSF) Offerings can be purchased together or separately 4 Falcon Commerce Park

5 executive summary

6 Property Overview Building Specifications multi tenant industrial condos BUILDING TYPE Industrial Condo Development ADDRESS 1610, 1660, 1750 North Rosemont TOTAL BUILDING SIZE 74,446 Square Feet 1610 N. ROSEMONT (Bldg. 1) - 25,730 SF 1660 N. ROSEMONT (Bldg. 2) - 22,986 SF 1750 N. ROSEMONT (Bldg. 3) - 25,730 SF LAND AREA 7.10 Acres (309,608 Square Feet) PARCEL NUMBERS thru 077, 079 thru 091 YEAR BUILT 2009 COVERAGE 24.9% UNIT SIZES 2,744 to 3,855 Square Feet OFFICE AREA Approximately 17.3% per unit ZONING M-1, City of Mesa CONSTRUCTION Masonry block CLEAR HEIGHT 16 feet POWER 400 amps, 120/208 volt, 3 phase power per building PARKING 80 spaces (2.63 per 1,000 SF ratio) LOADING 12 x 14 grade level per unit / One common truckwell SPRINKLERS Yes COMMENTS Property has 23 units which all include concrete outside fenced storage yards NOTE Unit 111 in Building 2 totaling 2,744 SF (Parcel ) sold in February $135 psf. 6 Falcon Commerce Park

7 Building Specifications free-standing buildings PROPERTY TYPE ADDRESS TOTAL BUILDING SIZE 1641 N. ROSEMONT 15,298 SF (Lot 12) 1655 N. ROSEMONT 16,670 SF (Lot 11) 1636 N. BANNING 15,298 SF (Lot 13) 1656 N. BANNING 16,670 SF (Lot 14) Four (4) Freestanding Industrial Buildings North Rosemont & North Banning 63,936 Square Feet LAND AREA 4.32 Acres (188,179 Square Feet) PARCEL NUMBERS thru 065 YEAR BUILT 2008 COVERAGE 34% OFFICE AREA 6.8% air conditioned office buildout per building ZONING M-1, City of Mesa CONSTRUCTION Masonry block CLEAR HEIGHT 16 feet POWER 1,200 amps, 120/208 volt, 3 phase power per building PARKING 20 spaces per building LOADING Two 12 x 14 grade-level doors per building SPRINKLERS Yes COMMENTS Each building has fenced outside storage yards. Warehouse features include insulated ceilings, skylights, and evaporative cooling. property overview

8 area aerial 8 Falcon Commerce Park

9 area aerial property overview

10 Site Plan condo 1610 Rosemont Street Building Rosemont Street Building Rosemont Street Building *Unit 111 NOT A PART property tax chart *Floor plan not drawn to scale. Seller does not warrant the actual dimensions and square footage. Interested purchasers should independently verify these measurements. 10 Falcon Commerce Park Unit ,779 1,717 $ Unit ,744 1,293 $ U nit 111 2, ,293 $ 15 Unit ,560 1,560 $ Address Parcel 2009 Taxes 1610 N Rosemont # $3, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $3, N Rosemont # $2, Unit ,560 1,560 $ 15 U nit 105 2, ,293 $ 15 Unit ,744 1,293 $ 15 Unit ,855 1,717 $ 15 ADDRESS OFFICE SF TOTAL SF YARD SF $ CONDO BUILDING 2 (1660 N. ROSEMONT) Address Parcel 2009 Taxes 1660 N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $3, N Rosemont # $3, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $2, N Rosemont # $3,280.10

11 INDUSTRIAL CONDOMINIUMS LAYOUT OFFICE SF TOTAL SF YARD SF TYPE A 635 3,855 1,717 TYPE B 503 2,744 1,293 TYPE C 581 3,560 1,560 TYPE D 635 3,779 1,717 CONDO BUILDING N. ROSEMONT UNIT OFFICE SF TOTAL SF YARD SF ,855 1, ,744 1, ,744 1, ,560 1, ,560 1, ,744 1, ,744 1, ,779 1,717 CONDO BUILDING N. ROSEMONT UNIT OFFICE SF TOTAL SF YARD SF ,779 1, ,744 1, ,744 1, ,560 1, ,560 1, ,774 1, ,774 1, ,855 1,281 property overview CONDO BUILDING N. ROSEMONT UNIT OFFICE SF TOTAL SF YARD SF ,855 1, ,744 1, ,744 1, ,560 1, ,560 1, * (NOT A PART) 503 2,744 1, ,744 1, ,779 1,717 *Unit 111 NOT A PART

12 Site Plan property tax chart FREESTANDING BUILDINGS LAYOUT OFFICE SF TOTAL SF YARD SF 1641 N ROSEMONT 1,134 15,298 11, N ROSEMONT 1,134 16,670 13, N BANNING 1,134 15,298 11, N BANNING 1,134 16,670 13,415 Address Parcel 2009 Taxes 1641 N Rosemont $13, N Rosemont $13, N Banning $13, N Banning $13, LOT N. ROSEMONT 16,670 LOT N. BANNING 16,670 ROSEMONT STREET BANNING STREET LOT 12 LOT N. ROSEMONT 15, N. BANNING 15,298 INDIGO STREET *Floor plan not drawn to scale. Seller does not warrant the actual dimensions and square footage. Interested purchasers should independently verify these measurements. 12 Falcon Commerce Park

13 property overview

14 Floor Plates single tenant buildings *Floor plan not drawn to scale. Seller does not warrant the actual dimensions and square footage. Interested purchasers should independently verify these measurements. 14 Falcon Commerce Park

15 property overview

16 area overview Falcon Commerce Park is located in the East Mesa submarket which contains over 100 buildings, representing over four million square feet of industrial space. The recent completion of the Loop 202 has contributed to the growth experienced in the East Mesa submarket over the past cycle. The area is well-planned with a mix of upper middle income housing, amenities, and educational facilities which includes Bush Elementary School adjacent to the industrial condo development. The City of Mesa is the third largest city in Arizona and 46th largest city in the United States. The Chicago Cubs call Mesa their home for spring training and the newly completed Mesa Arts Center is home to fourteen visual and performing arts studios. Falcon Field Business District The Falcon Field Business District is an eleven square mile area that serves as an employment center for the City of Mesa. The district expands much beyond the Falcon Field Airport itself which includes over 1,000 acres of improved business and industrial parks. To support the business district, there are more than 225,000 people within a 15-minute commute, and more than one million people residing within 30 minutes. This business district is designed as a destination location for employment opportunities. The Boeing Company, Nammo Tally, ATK, The Timken Company, MD Helicopters, and Special Devices as well as many other companies currently have major operations there. Falcon Field Airport Rich in history with an eye to the future, Falcon Field Airport is home to more than 70 aviation-related businesses, including the Boeing Company and MD Helicopters. Falcon Field will handle more than 300,000 flights in 2008 and is the sixth busiest general aviation airport in the United States (a general aviation airport has no commercial airline services). In terms of economic impact, Falcon Field is the third largest airport in Arizona, and second largest in the Valley, according to a study released in 2004 by the Arizona Department of Transportation. Originally opened in 1941 as a base to train Royal Air Force pilots, Falcon Field was named after the British hunting bird. After World War II, Falcon Field, and its operation, was turned over to the City of Mesa. Falcon Field Airport employs over 1,250 people. Today the airport is home base for more than 900 aircraft and operates two runways for air charter services and private jets. The airport sits on over 600 acres and serves over 300,000 aircraft operations (take-offs and landings) yearly. Falcon Field is home to over seven flight training schools, including Regional Academy, which trains commercial airline pilots for American Airlines, and Air Helicopters, which trains helicopter pilots. Falcon Field hosts 94 onsite commercial businesses. The airport has leased, and made available, 144 of its 207 acres for additional aviation business growth. Falcon Field is financially stable without utilizing the City of Mesa general funds used. Instead, the airport uses approximately $1-1.5 million in federal and state grants to help fund capital improvements. 16 Falcon Commerce Park

17 AREA overview

18 MARKET COMPARABLES Condo building Comparables Sale Comparables # Property Date SF Office Fenced Price (PSF) N Greenfield, #153 & 155, Mesa 7/10/09 5,790 Y N $579,000 ($100) N Rosemont St, Unit 111, Mesa 2/19/09 2,744 Y Y $370,440 ($135) N Norfolk, Unit 105, Mesa 4/10/09 1,911 Y Y $190,000 ($99.42) AVERAGES: 3,482 $ Sale Competition # Property Divisibility Office Fenced Price (PSF) (Total SF Available) N Greenfield Rd, Mesa 2,680 2,940 (34,930) N N $227,800 - $249,900 ($85) N Norfolk, Mesa 1,991 (1,991) Y Y $309,000 ($155.20) N Rosemont, Mesa 3,055 (3,055) Y N $319,000 ($104.42) AVERAGES: 2,667 (13,325) $ Falcon Commerce Park

19 MARKET COMPARABLES

20 Condo building Comparables Lease Competition # Property Divisibility (Total SF Available) Office Fenced Rate (NNN Equiv.) N Greenfield Rd, Mesa 2,680 2,940 (34,930) Y Y $ N Higley Rd, Mesa 5,300 (5,300) Y Y $ E Julep St, Mesa 3,870 4,385 (12,372) Y N $ E McDowell Rd, Mesa 2,555 3,691 (9,818) Y N $ N Ogden Rd, Mesa 2,891 2,892 (8,675) N N $ N Ogden Rd, Mesa 2,689 2,700 (10,788) N N $ N Ogden Rd, Mesa 3,106 (3,106) N N $ E Presidio St, Mesa 2,405 (2,405) Y N $ N Reseda, Mesa 2,000 (4,000) Y N $ N Reseda, Mesa 2,000 (2,000) Y N $ N Rosemont, Mesa 3,055 (3,055) Y N $0.68 AVERAGES: 8,768 $ Falcon Commerce Park

21 MARKET COMPARABLES

22 single tenant industrial Condo building Comparables Sale Comparables # Property Date SF Year Built Office Fenced Price (PSF) N Ogden Rd, Mesa 12/3/09 12, N Y $1,475,000 ($122.20) E Ivy St, Mesa 7/8/09 13, Y Y $1,070,000 ($82.31) AVERAGES: 12,535 $ Sale Competition # Property SF Year Built Office Fenced Price (PSF) E Ingram St, Mesa 8, Y Y $1,100,00 ($137.19) E Ingram St, Mesa 18, Y N $1,254,000 ($69.05) E Norcroft Rd, Mesa 17, Y Y $1,673,840 ($98) N Ogden Rd, Mesa 12, N Y $1,620,000 ($134.54) AVERAGES: 13,825 $ Falcon Commerce Park

23 MARKET COMPARABLES

24 single tenant industrial building Comparables Lease Competition # Property Available SF (Total SF) Year Built Office Fenced Rate (NNN Equiv.) N Higley St, Mesa 10,486 (10,486) 2006 Y Y $ E Ivy St, Mesa 5,517 (11,035) 2000 Y Y $ E Norcroft Rd, Mesa 17,080 (17,080) 2007 Y Y $ N Ogden Rd, Mesa 12,041 (12,041) 2008 Y Y $0.65 AVERAGES: 11,281 (12,661) $ Falcon Commerce Park

25 MARKET COMPARABLES

26 a multi-tenant industrial condo & four single tenant building investment offering Falcon commerce park mesa, arizona East Camelback Road, Suite 300 Phoenix, Arizona p f