La Palma Professional Building

Transcription

1 La Palma Professional Building RARE PRIDE OF OWNERSHIP PROPERTY - 9,074 SF PRESENTED BY: JOHN MARTIN, CalBRE john@lee-associates.com

2 DISCLAIMER This Executive Summary was prepared by Lee & Associates - Newport Beach (the Broker ) solely for prospective purchasers of 3455 East La Palma Avenue, Anaheim, CA (the Property ). Neither we (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) nor the Owner of the Property (the Owner ) make any representation or warranty, expressed or implied, as to the completeness or the accuracy of the material contained herein. The information contained herein was prepared to provide a summary of unverified information to prospective purchasers and to establish only a preliminary level of interest in the Property. The information contained herein is not a substitute for a thorough due diligence investigation; you and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy with respect to the size and square footage of the Property and improvements, the presence or absence of contaminating substances, PCB s or asbestos on the Property, etc. All potential buyers must take appropriate measures to verify all of the information set forth herein. It is the sole responsibility of the prospective Buyer to confirm the size of the units, building and property. The building is being offered on an As Is basis - Broker and Owner shall not make any representations as to the conditions of the building. The Executive Summary is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity at any time, or to remove the property from the market with or without notice. The Owner shall have no legal commitment or any obligation to any entity reviewing the Executive Summary or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. The Executive Summary is confidential. By accepting the Executive Summary, you agree (i) that you will hold and treat the Executive Summary and its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Executive Summary, (iii) that you will not disclose the Executive Offering or any of its contents to any other entity without the prior written authorization of the Owner or the Broker, and (iv) that you will not use the Executive Summary in any fashion or manner that may be deemed detrimental to the Owner or the Broker. DO NOT DISTURB TENANTS

3 Property Summary Statistics Parcel Map Floor Plans City of Anaheim Amenities Aerial TABLE OF CONTENTS Income & Expense Statements Rent Roll

4 La Palma Professional Building consists of approximately 9,074 rentable square feet in a two story office over one level underground parking, multi-tenant office building prominently located on East La Palma Avenue between North Tustin Avenue and North Kraemer Boulevard in the city of Anaheim. The building is uniquely positioned for the owner/user. Currently at 100% leased, the remaining tenants are on short term or month-to-month leases, giving the flexibility for owner/users seeking 950 sq. ft. 2,600 sq. ft. Location Excellent visibility on the northeast corner of East La Palma Avenue and North Fountain Way Exceptional freeway access via the 91, 57 and 55 freeways. These freeways provide superb access to clients and employees based in Los Angeles, Orange, Riverside and San Bernardino Counties Close proximity to various retail amenities, banking institutions, medical offices, etc. Kaiser Permanente is immediately across the street Proximity to entry level and executive housing Anaheim Canyon Metrolink Station across the street Excellent labor demographics Mature business environment PROPERTY SUMMARY Kaiser Permanente, Pacific Sunwear, B/E Aerospace, Styles for Less, Parker Hannifin, Straub Distribution and Targus Corporation Investment Highlights Pride of Ownership owner/user/investment opportunity Strong market dynamics/diverse business base Great 1031 exchange property North Orange County vacancy 10.9% North Orange County average asking rent $1.57 FSG Investment Summary Square Feet Number of Buildings 1 Number of Suites 12 Offering Terms ±9,074 SF 3455 East La Palma Avenue is being offered for sale at $2,087, ($230/SF). Buyers should base their offers on an as-is/where-is basis for the fee simple interest in the property and the land thereunder. Limited land availability / future competition Major corporate tenants and employers in the area include:

5 Address Net Rentable Area Year Built 1977 Construction Type Stories Site Area 3455 East La Palma Avenue Anaheim, CA ±9,074 RSF Steel reinforced, wood frame and stucco structure (Substantially renovated 2006 & 2016) Two-story office over one level underground parking ±13,068 SF (0.30 acres) STATISTICS Site Coverage 57% Street Frontage ±90 feet on East La Palma Avenue Assessor Parcel # Parking Zoning Sprinklers Elevator Utilities 25 total spaces (15 free covered spaces, seven spaces at front of building and three at back of building) Industrial, a variety of light industrial and commercial uses, including office uses, are permitted None None Electricity: Anaheim Utility Gas: The Gas Company Telephone: AT&T Water/Sewer: Anaheim Utility

6 PARCEL MAP

7 FLOOR PLANS FIRST FLOOR (VACANT) 5,037 SF SECOND FLOOR (VACANT) 4,037 SF

8 Anaheim is a city in Orange County, California, part of the Los Angeles metropolitan area. As of the 2010 United States Census, the city had a population of 336,265, making it the most populous city in Orange County and the 10th-most populous city in California. Anaheim is the second-largest city in Orange County in terms of land area (after Irvine) and is known for its theme parks, the Anaheim Convention Center, and its two major sports teams: the Anaheim Ducks ice hockey club and the Angels baseball team. Anaheim s city limits extend from Cypress in the west to the Riverside County line in the east and encompass a diverse collection of neighborhoods and communities. Anaheim Hills is a master-planned community located in the city s eastern stretches that is home to many of the city s affluent. Downtown Anaheim has three mixed-use historic districts, the largest of which is the Anaheim Colony. The Anaheim Resort, a commercial district, includes Disneyland, Disney California Adventure, and numerous hotels and retail complexes. The Platinum Triangle, a neo-urban redevelopment district surrounding Angel Stadium, is planned to be populated with mixed-use streets and high-rises. Anaheim Canyon is an industrial district north of California State Route 91 and east of California State Route 57. Anaheim is approximately 25 miles (40 km) south east of Downtown Los Angeles. The city roughly follows the east-to-west route of the 91 Freeway from the Orange-Riverside county border to Buena Park. To the north, Anaheim is bounded by (from east to west) Yorba Linda, Placentia, Fullerton, and Buena Park. The city shares its western border with Buena Park and Cypress. Anaheim is bordered on the south by (from west to east) Stanton, Garden Grove, and Orange. Various unincorporated areas of Orange County also abut the city, including Anaheim Island. According CITY OF ANAHEIM to the United States Census Bureau, the city has a total area of 50.8 square miles (132 km2) square miles (129 km2) of it is land and 1.0 square mile (2.6 km2) of it (1.92%) is water. Attractions Anaheim GardenWalk Anaheim Convention Center Angel Stadium of Anaheim Disneyland Resort Disneyland Park Disney California Adventure Park Downtown Disney ESPN Zone The Grove of Anaheim Honda Center Anaheim Ice American Sports Centers, home of the U.S. men s national volleyball team Flightdeck Flight Simulation Center Anaheim Hills Golf Course Dad Miller Golf Course Oak Canyon Nature Center MUZEO, Art Museum located in Downtown Anaheim Anaheim/OC Walk of Stars

9 AMENTIES AERIAL

10 AMOUNT GROSS INCOME 2017 (ESTIMATE) $ 164, OPERATING EXPENSES (2017 ESTIMATE) Property Taxes $ 12, Insurance $ 6, Utilities $ 16, Gas $ Maintenance $ 2, Landscape Services $ 1, Janitorial Services $ 2, Total Expenses $ 39, HISTORICAL INCOME & EXPENSE STATEMENT Net Operating Income $ 125, Cap Rate 5.9%

11 FIRST FLOOR RENT ROLL SUITE TENANT NAME USF MONTHLY RENT RENT PSF LEASE COMMENCEMENT LEASE EXPIRES OPTIONS/TERMS 100 John Mach / State Farm Insurance 1,279 $1,800 $ /1/ /1/ Year Option 101 Owner Occupied 1,650 $2,475 $1.50 None 102 Owner Occupied 950 $1,425 $1.50 None 103 SP Inc 916 $2,400 $2.62 2/15/2017 2/15/2020 None FIRST FLOOR 4,795 SF SECONDFLOOR SUITE TENANT NAME USF MONTHLY RENT RENT PSF LEASE COMMENCEMENT LEASE EXPIRES OPTIONS/TERMS 201/202 SE Inc 521 $1,000 $1.92 9/1/2017 9/1/2018 None 203 RR Inc. 324 $975 $ /1/ /31/2018 None 204 RR Inc. 600 $1,300 $2.16 6/1/2017 7/1/2017 None 205/206 House of Events and Imperial Trade Links 1,552 $1,550 $ /1/ /31/2018 None 207 RR Inc. 265 $300 $1.13 1/18/2017 1/18/2018 None 208 Care Inc. 308 $500 $1.62 SECOND FLOOR 3,570 SF USF TOTAL 8,365 SF $13,725 $1.79 Average LEASED 94% VACANT RSF 7,844 SF 521 SF 9,074 SF