27 OFFICE CONDOS FOR SALE/LEASE

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1 27 OFFICE CONDOS FOR SALE/LEASE Development by: Lambert Office Plaza 1800 E Lambert Rd, Brea, CA Peichin Lee (C) Melody Cheng (C) melodyc@alcapitalinc.com AL Capital, Inc Rowland St., #208 City of Industry, CA Tel: Fax: CalBRE #

2 Project: Vicinity Map Lambert Office Plaza 1800 E Lambert Rd, Brea, CA Page 2

3 Page 3 Aerial View SITE PLAN

4 Site Plan SITE PLAN 27 Office condo units for sale and for lease. EAST LAMBERT ROAD Year Built: Total lot size is about 1.49 acres. Building is 2 Stories high and totals approximately 33,119 square feet. Offices range in size from 512 square feet to 2,346 square feet (units can be easily combined if you need more space). Located about 600 feet west of the Orange Freeway (CA-57) on the south side of Lambert Rd. Brea Diamond Bar Fullerton Yorba Linda Population 41,394 57, ,457 65,237 Household Income $79,647 $117,031 $65,974 $112,259 All information provided herein is approximate and also subject to change without notice due to considerations related to design, use, construction or government requirements. Page 4

5 Floor Plan First Floor All information provided herein is approximate and also subject to change without notice due to considerations related to design, use, construction or government requirements. Page 5

6 Floor Plan Second Floor All information provided herein is approximate and also subject to change without notice due to considerations related to design, use, construction or government requirements. Page 6

7 Office Condo Price List Suite # BOMA Rentable Square Feet Purchase Price $333, $266, $294, $290, $251, $203, $283, $415, $588, $933, $511, $503, $695, $773,800 Suite # BOMA Rentable Square Feet Purchase Price $472, $492, $666, $367, $680, $452, $397, $541, $717, $398, $542, $563, $541,000 Price as shown is for AS IS condition. Property is zoned for commercial use only (no medical use is allowed) Broker Cooperation: 3% commission to selling brokers who represent the buyer/lessee in the completed transaction. Some items covered by monthly association fees include insurance (property, fire and liability), and CAM charge; fee is estimated to be approximately $0.25 per rentable square foot per month. Page 7

8 Purchase vs Lease Analysis* Unit Size 512 SF 1,285 SF 1,944 SF Purchase Price $203,700 $511,400 $773,700 Down Payment (15%) Mortgage (5% interest) Property Tax (1.17%) Association Fee ($0.25/SF) $30,555 $76,710 $116,055 $721/mo. $1,811/mo. $2,740/mo. $199/mo. $499/mo. $754/mo. $128/mo. $321/mo. $486/mo. Total Monthly Payments $1,048 $2,631 $3,981 Lease Rate at $2.25/SF $1,152 $2,891 $4,374 Build up your own equity through mortgage payments. Take advantage of low interest rates. Enjoy the property value appreciation. Pride of ownership, with great location & quality. Owner occupy or income property with good return on investment. No more tedious landlord relationship and surprise rent increases. Flexibility to sell or lease at any time. *based on current interest estimates, property tax rate includes special assessment fees and is approximate Page 8

9 Financing Procedure 1. There is no need to work with a loan broker for your commercial financing. You can work with any commercial bank directly by calling their real estate department. 2. You may make an inquiry with the bank during the due diligence period. However for new construction, you may start the formal financing process 4 months prior to completion of the building. The appraisal report is only good for about 6 months. 3. When you meet with the bank, please provide a copy of your Purchase Agreement, three years of tax returns, and your personal financial statement. 4. Request a Letter of Interest from the lenders. 5. Select the most favorable lender, sign and return the Letter of Interest, and attach a check for the appraisal fee and any other fees requested by the lender. 6. After your lender has received your executed Letter of Interest and appraisal fee, etc., they will formally process your loan application. a. For a conventional loan, Loan-to-Value ratio can be up to 75% and can take up to 45 days. b. For a Small Business Administration loan, Loan-to-Value ratio can be up to 90% and it can take an extra 30 days to have the loan approved. c. The time for approval may vary depending on the experience of your loan officer and whether you can timely provide the lender with the requested documents. 7. Order and sign the loan documents either at your bank s office or at the escrow company. Please keep in mind that the bank needs a minimum of 3 days to fund after signing. 8. Once you sign the loan documents, wire transfer the balance of your down payment to the escrow company. 9. Your lender will fund the loan after your balance is received by the escrow company. 10.Once the escrow company receives the full purchase amount, it will record the Grant Deed with the county recorder s office the 2 nd day. Congratulations, your escrow is closed! Page 9

10 Lenders Familiar with CGM Projects David Chan (626) Lisa Chiu (626) Brian Smith (562) Virginia Lee (626) Page 10

11 Intro to Condominium Conversion Process First and foremost, CGM Development would like to thank you for your interest in our office condominium projects. To provide you with a better understanding of the condo conversion process, we would like to share the general process of how an existing building is converted into individual office or medical condo units that are available for purchase: 1. Our team of licensed civil engineers/land surveyors analyze and measure the existing building, including the common areas and individual units. They then use these measurements to draw a Tentative Map and a Condominium Plan, which shows the property boundaries (building boundaries and the borderlines of the individual units and common areas). CGM and its attorneys will also create CC&Rs to govern the property and owner s association. 2. The Tentative Map is submitted to the City and any other applicable government agencies for their review. Once approved, the civil engineer will create the Final Map to be recorded in the public records of the County Recorder. In addition, the CC&Rs is reviewed by the City and the City attorney. 3. After the City s approval, CGM sends the Final Map, CC&Rs and Condominium Plan to a reputable title insurance company for review. The title insurance company, through its legal/title/real estate department, then assists in creating the new legal description for each condo unit. 4. After obtaining the above reviews and approvals, the Final Map, CC&Rs and Condominium Plan are recorded in the public records of the County Recorder and the condo units may be owned or sold by individual or business owners. Page 11

12 CGM Development Past Projects Grandview Medical Plaza Roswell Ave, Chino, CA Nogales Plaza 2707 East Valley Blvd, West Covina, CA Diamond Star Office Condo 2705 Diamond Bar Blvd, Diamond Bar, CA Metro Centre Office Condo 3333 S Diamond Bar Blvd, Diamond Bar, CA Brea Canyon Office Condo 680 Brea Canyon Road, Diamond Bar, CA DB Office Condo 660 N Diamond Bar Blvd, Diamond Bar, CA Montclair Office Building 4950 San Bernardino St, Montclair, CA University Office Park 2501 E Chapman Ave, Fullerton, CA Currently on market! Contact us for more information. Page 12