OFFERING MEMORANDUM SINGLE-TENANT NNN LEASED INVESTMENT. 1003, 1009, 1011 Gravenstein Highway, Sebastopol, CA

Transcription

1 SINGLE-TENANT NNN LEASED INVESTMENT 1003, 1009, 1011 Gravenstein Highway, Sebastopol, CA OFFERING MEMORANDUM Dave Peterson, Partner Peter Briceño, Agent 1355 North Dutton Avenue, Santa Rosa, CA (707) Fax: (707) Lic #s: , Keegan & Coppin REAL ESTATE KEEGAN & COPPIN COMPANY, INC. Commercial Real Estate Services

2 MULTI-TENANT, INDUSTRIAL LEASED INVESTMENT 1003, 1009, 1011 Gravenstein Highway, Sebastopol, CA SECTION 1 INVESTMENT OVERVIEW Investment Highlights Offering Summary Property Summary Tenant Summary SECTION 2 AREA OVERVIEW City of Sebastopol Profile Location & Demographics Economic Development/Recreation Aerial Map /Vicinity Map SECTION 3 PROPERTY OVERVIEW Site & Floor Plans Campus Photos Dave Peterson, Partner Peter Briceño, Agent 1355 North Dutton Avenue, Santa Rosa, CA (707) Fax: (707) Lic #s: , DPeterson@keegancoppin.com PBriceno@keegancoppin.com Keegan & Coppin REAL ESTATE KEEGAN & COPPIN COMPANY, INC. Commercial Real Estate Services

3 MULTI-TENANT LEASED MEDICAL INVESTMENT INVESTMENT OVERVIEW 1 offering snapshot PROPERTY TYPE Professional Campus SQUARE FOOTAGE 88,234± sf Gross NET OPERATING INCOME $85,850/Month CAPITALIZATION RATE 6.48% on Bldg., 5.8% Overall OFFERING PRICE $17,750,000 PARCEL NUMBERS , 028, & 026 SITE AREA 13.42± Acres (255,698± sf) (3 Contiguous Parcels) Investment Highlights NNN Single-Tenant Sale/Leaseback O Reilly Media Headquarters Highly Stable Investment Three Buildings: 88,234± rsf Gross 100% Leased to 1 Tenant 6.1± Acres of Additional Land for Building Expansion Generous On-Site Parking Priced Below Replacement Cost Sale Price: $17,750,000

4 MULTI-TENANT INVESTMENT OVERVIEW LEASED MEDICAL INVESTMENT 2 offering summary PROPERTY TYPE SQUARE FOOTAGE NET OPERATING INCOME CAPITALIZATION RATE 6.48% Professional Campus 88,234± sf Gross OFFERING PRICE $17,750,000 $85,580/Mo, $1,030,200/Yr PARCEL NUMBERS , 028, & 026 SITE AREA 13.42± Acres (255,698± sf) (3 Contiguous Parcels) 2016 BASE RENT $88,850 per Month NNN LEASE EXPIRATION DATE SINGLE TENANT YEAR BUILT 2001 CONSTRUCTION TYPE RESTROOMS ZONING Flexible - Prefer 5 Years O Reilly Media Three-Story Wood Frame Eight (8) ADA Restrooms Office/Industrial Building Valuation: Master Lease from O Reilly Media 88,234sf x $.973psf = $85,850 x 12 months = $1,030, % capitalization Rate = $15,889,988 Land Valuation: 6.1 acres (265,716sf) x $7.00psf = $1,860,012 Sale Price: $17,750,000

5 MULTI-TENANT PROPERTY OVERVIEW LEASED MEDICAL INVESTMENT 3 Property Summary The O Reilly Media Campus consist of approximately 88,234 square feet of office and industrial buildings (90,026 square foot gross building area) located at 1003 Gravenstein Highway North in Sebastopol, CA. The property was developed in 2001 and has been owner occupied by O Reilly Media, Inc., an integrated media company. The improvements are comprised of two, three-story office buildings totaling 83,274 square feet, and a third, single story 4,960 square foot warehouse building (with a loft not included in square footage). The improved portion of the offering sits on 7.32 acres including the three buildings, parking and rear outdoor area. The offering also consists of two adjacent vacant parcels immediately east of the improved site a 3.01 acre site and a 3.09 acre site for a total of 6.10 acres (the legal addresses for these parcels are 1009 and 1011 Gravenstein Highway). The vacant parcels are zoned O/LM or Office/Light Industrial. The three parcels in this offering are the only parcels with this unique and versatile zoning within the City of Sebastopol. Given its large size and Western Sonoma County location, is an extremely unique property. The current usability and future development opportunity of this property makes in the most dynamic real estate opportunity currently available in Sonoma County.

6 MULTI-TENANT TENANT OVERVIEWLEASED MEDICAL INVESTMENT 4 Tenant Summary O Reilly Media is an internationally recognized, multi-faceted media company that has played a seminal role in the Internet revolution. Through its books, events, online training courses, webcasts, and evangelism, O Reilly has educated a generation of technologists and entrepreneurs and shaped the dialogue about the future direction of the industry. The company has played an enormous role in the evolution and adoption of the World Wide Web, open source software, big data, and the Maker movement. Since 1978, O Reilly has been a chronicler and catalyst of technology development, homing in on the trends that really matter and spurring their adoption by exploring and disseminating cutting-edge information. An active participant in the technology community, the company has a long history of advocacy, meme-making, and evangelism. Company founder and CEO Tim O Reilly has been called the Oracle of Silicon Valley by Inc. Magazine and The Trend Spotter by WIRED. O Reilly Media publishes definitive books and offers training videos for developers, administrators, managers, and users. The Company also conducts conferences and organizes events in the areas of big data, design, web operation and performance, open source software, and software architecture across the U.S., Europe, and Asia. O Reilly Media is headquartered in Sebastopol, California, with additional offices in Boston, MA; Farnham, UK; Oakville, ON, Canada; Tokyo, Japan; and Beijing, China. The Company has over 400 employees and an experienced management team.

7 MULTI-TENANT AREA OVERVIEW LEASED MEDICAL INVESTMENT 5 AREA INFORMATION City of Sebastopol Profile The City of Sebastopol is a small semi-urban community located in California, on the western edge of the Santa Rosa plain. It is 50 miles north of San Francisco, 8 miles west of Santa Rosa, 10 miles from Bodega Bay, and about 15 miles from the Russian River. The City, incorporated in 1902, currently has a population of about 7,800 people and serves a trade area population in excess of 50,000 people. Business Location and Visibility Retail Office and Medical Office Industrial and Warehouse Regional highway access to the Sebastopol downtown comes from the Highway 101 corridor via designated scenic State Highways 12 and 116. More than 50,000 residents in West Sonoma County use Sebastopol as their center of commerce for shopping, entertainment, and business. Sebastopol s downtown is located at the main cross roads to Bodega Bay, the Sonoma Coast and the Russian River wine and recreation region. A mix of retail shops and professional offices line Sebastopol s downtown area. Clothing, furniture, restaurants and The Downtown Plaza invites visitors with live music, a farmer s market, and sculpture by local artists, fountain, hops and cafes. Mileage from Sebastopol Petaluma 12 miles San Francisco 57 miles Sacramento 100 miles San Rafael 40 miles Napa (city) 44 miles Sonoma (city) 25 miles Healdsburg 15 miles Bodega Bay 16 miles

8 MULTI-TENANT AREA OVERVIEW LEASED MEDICAL INVESTMENT 6 AREA INFORMATION Location and Demographics Home to approx 500,000 people, Sonoma County is a prime location for tourism as well as residence. Just thirty-five miles from the San Francisco Bay Area, there are nine incorporated cities in the county, in addition to seventeen unincorporated areas. The city of Santa Rosa is the most populous area, home to approximately one-third of the county s population and was recently named as one of the nation s most livable communities by Partners for Livable Communities. Economic Development Sonoma County s unemployment rate is one of the lowest in California and the county continues to show long-term job growth in the health care, hospitality and business service sectors. For the leisure and hospitality sector. Educational and health services, which includes trade schools, social workers and health care professionals, has seen employment growth improve on a year-over-year basis. And business and professional services jobs have increased from a year earlier. In addition, new housing continues to increase throughout the county, while job growth and taxable sales also continue to rise. Recreation Sonoma County is renowned for its outstanding wineries, breathtaking vistas of the Pacific Ocean, rolling hills, and friendly atmosphere. The landscape is perfect for spending a day at one of the many spas or wine tasting rooms, mountain biking the various trails and country roads, or kayaking down the majestic rivers. The area is also known for its exquisite cuisine, much of which is cultivated in the orchards, gardens, and fields of Sonoma County. Whether you are looking for a relaxing weekend getaway, or you feel like exploring the outdoors, Sonoma County has something for everyone. Located in the heartland of Wine Country, Sonoma County has more than 370 local wineries. There is a wide array of guided tours which explore the county s culture and history, and offer tastings of the finest wines in the country. When the sun sets, you can continue your relaxing stay at one of the finer resorts in the area. From day spas to beautiful golf courses, Sonoma County has become synonymous with the elegant and relaxing getaway.

9 MULTI-TENANT LEASED MEDICAL INVESTMENT AREA OVERVIEW 7

10 MULTI-TENANT LEASED MEDICAL INVESTMENT PROPERTY SITE PLAN 8

11 MULTI-TENANT LEASED MEDICAL INVESTMENT PROPERTY FLOOR PLANS 9 Building B-1 Building B-2 Building B-3 Building C-1 Building C-2 Building C-3

12 MULTI-TENANT LEASED MEDICAL INVESTMENT PROPERTY PHOTOS 8

13 MULTI-TENANT LEASED MEDICAL INVESTMENT PROPERTY PHOTOS 9

14 PROPERTY PHOTOS MULTI-TENANT LEASED MEDICAL INVESTMENT , 1009,Sonoma 1011 Gravenstein Avenue, Santa Highway, Rosa,Sebastopol, CA CA

15 MULTI-TENANT LEASED MEDICAL INVESTMENT DISCLAIMER 11 Disclaimer This property is being offered on an as-is basis. While the Broker believes the information in this brochure to be accurate, no warranty or representation is made as to its accuracy or completeness. Interested parties should conduct independent investigations and reach conclusions without reliance on materials contained in this brochure. This property owner requests that you do not disturb the Tenants, as the property will only be shown in coordination with the Listing Agent. This brochure is presented under the terms and conditions of the Confidentiality Agreement. As such, the material contained in this brochure is confidential and is provided solely for the purpose of considering the purchase of the property described herein. Offers should be presented to the agent for the property owner, Russ Mayer of Keegan & Coppin Company, Inc. Prospective buyers are encouraged to provide buyer s background, source of funds and any other information that would indicate their ability to complete the transaction smoothly. Contact Information: Dave Peterson Partner BRE # (707) ext. 153 DPeterson@KeeganCoppin.com Peter Briceño Agent BRE # (707) ext. 153 PBriceno@KeeganCoppin.com