Multi-Tenant Office/Industrial Building for Lease or Sale

Transcription

1 LEASE RATE: PSF GROSS SALE PRICE: 2,500,000 Rhonda Deringer, Partner 1355 N Dutton Ave., Santa Rosa, CA (707) Fax: (707) Lic #: RDeringer@KeeganCoppin.com

2 BUILDING SQUARE FEET 12,261± sf Building Two-Story - 3 Suites SITE SIZE.81± Acre/35,283± sf - Separate Parcel APN ZONING MP (Industrial Park) - Sonoma County Zoning PARKING 41 Spaces On-Site SPECIAL FEATURES Remodeled in 2016 Electrical Service: 2000 A 208/120v 3-Phase The building is a two-story concrete tilt-up structure with expansive glass line, built in Includes a special soundproofed room for compressor and other machinery. Floor drains are connected to a separate collection system. There is a circulating hot water system and the building is piped for the distribution of nitrogen and deionized water. Has a roll-up door and one restorable roll-up for industrial use.

3 Interior Improvements - Remodeled in 2016 Remodeled office spaces Exposed High Ceiling (14± feet) - Paint - Flooring - Lighting - Kitchenette - Restrooms - Glass Walls Conference Rooms - Separate IT rooms, Gigabit Internet with all new Wifi and Cat6 Cabling Remodeled warehouse space Exposed High Ceilings (25± feet) Paint Epoxy Floor Coating Mezzanine Storage (10 X34 ) Conditioned Warehouse Suites available Range: 2,713± - 6,487± SF Suite C - 1st Floor Office/Warehouse Space 2,713+/- SF + mezzanine storage 1,380+/- SF Warehouse space with 20 ceiling height, roll-up door, mezzanine storage (350+/- SF). 1,333+/- SF Office space with 2 private offices, 2 restrooms, 2 large open office areas, 2 entrances/lobbies, kitchenette. Suite A - 2nd Floor Office Space 3,774+/- SF 4 private offices w/windows, 2 large conference rooms, 2 restrooms, IT closet, kitchenette, 2 large open office areas, 2 entrances/lobbies. High ceilings with exposed ducting, exposed concrete walls, drop pendant light fixtures, window line on 2 sides. The Suites may be combined - Totaling 6,487+/- SF Suite B - 1st Floor Office/R&D Space - 5,774+/- SF (Leased since 1998) 4 private offices w/windows, conference room, large research and development room, assembly room, 2 test rooms, 2 restrooms, closet/ storage. Leased to Infrared Materials, Inc. Infrared Materials Incorporated is a manufacturer of high performance Lead Sulfide (PbS) and Lead Selenide (PbSe) IR detectors and array components, sensitive in the IR spectral range of microns. PbS and PbSe detectors are commonly used as the critical sensing element in commercial process control systems, industrial gas monitors, spectroscopy, imaging, and medical CO2 gas analyzers, fire & spark detection systems, combustion control systems, moisture analyzers, and flash detection systems. The detectors are produced using state of the art processes resulting in industry-leading peak performance, enhanced stability and sensitivity in ambient and colder temperature conditions. Infrared Materials, Inc. has full production capability from Chemical Bath Deposition (CBD) in our chip foundry to hermetically sealing the detectors in standard and custom TO-5, TO-8, and Lead-less Chip Carrier (LCC) packages. Infrared Materials has extensive experience in building drop-in replacement assemblies in single and multi-channel configurations to match the form, fit, and functional requirements of oneoff prototype projects and production level programs. The detectors are produced in Santa Rosa, California and distributed through representatives worldwide. LEASE RATE AT PSF, PLUS A CAM CHARGE SALES PRICE: 2,500,000

4 PROPERTY HIGHLIGHTS 12,261± sf Building on Two Floors - 3 Suites Great Glass Line for Offices Roll-Up Door for Industrial Use Fully Conditioned Building Floor Drains Piped for Nitrogen and Deionized Water Heavy Electrical Service - 2,000 Amps - 3 Phase Zoned County MP (Industrial Park District) Blocks from the Smart Train terminal Favorable, convenient, easy Highway 101 access Blocks from Charles M. Schulz Sonoma County Airport

5 FLOOR PLANS 1ST FLOOR 1ST FLOOR 1st Floor Shared Lobby Suite B - Leased Suite C - Available 2ND FLOOR Suite A - Available 2ND FLOOR

6 Investment Write-Up: KEEGAN & COPPIN COMPANY, INC. Oncor International Commercial Real Estate Services Multi-Tenant Office/Industrial Investment Property Summary Financial Summary Property: 5460 Skylane Boulevard, Santa Rosa Price Description/Location: Price Per SF 12,261+/- SF Office/Warehouse Building-2 story- Remodeled in 2016-Concrete Tilt Construction. 5,774 SF Leased & 6,487 SF Available for Owner/User or For Lease (1 or 2 Suites). NOI (Annual) Cap Rate Size (sf): 12,261 Annual Debt Primary Type: Office & Industrial Service Site:.81 Acre Parcel Annual Cash Flow Zoning: MP Industrial Park Cash On Cash % 2,500, , % (119,725) 5, % Income and Expense Summary Debt Structure Annual Scheduled Gross Income: 158,204 Plus Tenant Reimbursements: 5,000 Lender TBD Less Vacancy & Credit Allowance: - Adjusted Gross Income: 163,204 Down Payment 750,000 Expenses: Existing Taxes (Projected) 28,000 Balance/Proforma Insurance 5,000 Loan 1,750,000 Utilities - Maintenance 5,000 Janitorial - Interest Rate 4.75% Common Area - Other Amortization 25 Total Annual Projected Annual Debt Operating Expenses 38,000 Service (119,724.65) Net Operating Income 125,204 LESSEE SUMMARY Vacancy %: 0% Tenant Area SF Rent PSF Monthly Rent Lease Term First Floor - Proforma 2, , Second Floor - Proforma 3, , Infrared Materials - 1st Fl 5, , /31/2018 Total Rentable SF: 12,261 Total Monthly Rent: 13, Annual Scheduled Rent: 158, Remarks: Projected income and expense analysis. Proforma Lease Rate for First/Second Floor Suites. Infrared Leases portion of First Floor. Tenants pay utilities & CAM Charge. The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to lease or sell and is subject to error, change, or withdrawal. An interested party should verify the status of the

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13 AREA AMENITIES DEMOGRAPHICS 1 MILE 3 MILES 5 MILES Population 3,355 32,490 97,796 Avg. HH Income 76,641 95,110 88,451

14 LOCATION 5460 Skylane Boulevard is ideally located in North Santa Rosa in the Airport Business Center. Just a few blocks to the Sonoma County Airport with air service provided by Alaska Airlines, Allegiant and American Airlines. It has easy access to Hwy 101 via Airport Blvd and to the West County via Slusser Road to River Road. The park has commanding views of surrounding hills and Mount St. Helena. Large redwoods and mature oak trees are nestled throughout the park. Over 50 acres of vineyards, dedicated as scenic easements, front along U.S. Highway 101. AIRPORT BUSINESS CENTER Located at Sonoma County s Charles M. Schulz Airport, this first class research and development building is strategically located to provide access to the world s major research and manufacturing facilities through airport services. The airport runways are currently being lengthened to accommodate mediumrange jets capable of reaching most western cities. The Airport Business Center park is located within the Sonoma County Airport Industrial Area Specific Plan area, which will ultimately accommodate 603 acres of industrial development (412 acres of industrial park and 191 acres of heavy industrial), 5 acres of retail commercial, and 140 acres of agricultural and open space. Airport Business Center is headquarters for several leading companies, which were attracted to its excellent facilities for corporate offices, research and development, manufacturing and distribution. ABC is about five miles north of downtown Santa Rosa with easy access to U.S. Highway 101. The Airport Business Center is the hub of medical/scientific activity in northern Sonoma County and includes such companies as Medtronics, TriVascular, Redwood Toxicology laboratory, Neilmed Pharmaceuticals, and Sonoma Orthopedic Products. Other tenants include: Kendall Jackson Winery Sonoma County Office of Education, American AgCredit North American Mortgage Korbel Champagne Cellars Wine Alliance Redwood Orthopedic Surgery Assoc. Back to Golf Performance & Fitness Tractor Supply Marcassin Winery Wine Country Express

15 SANTA ROSA AREA HIGHLIGHTS Santa Rosa has traditionally been the region s center of business since it s the largest city in the county as well as the largest city between San Francisco and Portland. Presently, Santa Rosa is considering annexing Roseland, which is a 620-acre unincorporated area surrounded by the City of Santa Rosa and four other nearby smaller county pockets. Historically, Santa Rosa has been a center for agriculture, industry, and shipping. Today, the city is a hub for all local industries, including wine making, healthcare, engineering, biotechnology, financial services, education and tourism. In recent years, it has been a center for innovation of tech start-ups and medical firms. At times, the local startups cannot find local space when they outgrow their downtown office space; typically they are targeting office space with walkable amenities like Stony Point Lake. The city has seen a trend by San Francisco entrepreneurs who buy homes in the area, open satellite offices locally and eventually grow here due to the quality of life and access to fiber optic lines providing the bandwidth needed for technology companies. Keysight Technologies is one of the largest employers in the city, and JDS Uniphase continues to operate in Santa Rosa, while Power2Practice, an integrative medical records and practice management company, is a new rising star and occupies space in the Santa Rosa Office Portfolio. The city acts as the main medical service area for all the cities in Sonoma County and has the only Level II Trauma Center, Santa Rosa Memorial Hospital, which serves the Coastal Valley region that includes Sonoma, Napa, Mendocino and Lake Counties. Santa Rosa is a business-friendly city, with onestop permitting, collaborative partnerships with local chambers of commerce, higher education, industry, and the global venture community. The city has also fast tracked the permitting for any new affordable housing developments and will collaboratively facilitate meetings with community partners to help developers with their projects. Recent examples include Crossroads Apartments which consists of 79 units and also Catalina Townhomes with 60 units. The Sonoma-Marin Area Rail Transit (SMART), a regional commuter rail line, will arrive in Santa Rosa in the fall of 2016, connecting Santa Rosa from the Sonoma County Airport, through Guerneville Road and Railroad Square all the way to downtown San Rafael in Marin County. Initially, there will be seven twocar trains, with capacity for 158 passengers each. Additional capacity can be added with a third car for each train. Although Sonoma County is known internationally as a major wine-producing area, it is also one of the top craft beer cities in the US. Santa Rosa and the surrounding towns feature over three dozen breweries and brew pubs. Santa Rosa was ranked in the top five nationally by Wine Enthusiast Magazine, ahead of all other West Coast cities, except Portland. Breweries and brew pubs are permitted without a use permit in BP (Business Park) zoned properties.

16 MARKET OVERVIEW Santa Rosa is the sixth largest city in the San Francisco Bay Area. The City serves as a business and service hub for California s North Bay Region and serves as the Sonoma County Seat. Sonoma County is located north of the San Francisco Bay. The county s real estate development and business infrastructure is primarily located along Highway 101, which serves as the main arterial connection to Napa, Sacramento, San Francisco. Sonoma County is 35 miles north of San Francisco, which serves as a main attraction to the area. EMPLOYMENT GROWTH HOUSING AFFORDABILITY The average residential sale price in Santa Rosa is 525,000 which makes it among the lowest of all the counties in its region. In addition, the median home price has appreciated 81% over the last five years. Approximately 20% of the residents can afford the median priced home. This is more than twice the rate of the San Francisco-San Mateo-Redwood City region affordability index of only 8.5% with a median home price of 1,180,000 and above the San Jose- Sunnyvale-Santa Clara region affordability index of 17.5% with a median home price 845,000. The housing affordability and high quality of life has made Santa Rosa one of the most attractive locations for employers within the greater San Francisco Bay Area going forward. The Santa Rosa MSA recently surpassed pre-recession employment levels of 195,800 jobs after adding 5,800 jobs in 2015, or 3.0% growth to 199,800 nonfarm jobs. The Santa Rosa jobless rate dropped to 4.2% in June 2016 from 5.3% at the beginning of The current unemployment rate is now 730 basis points below the peak 11.5% that was recorded in March California s unemployment rate is currently 5.9%. Approximately 5,600 additional jobs have been added to Santa Rosa s employment base over the past year to a current total of 202,600 jobs.

17 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. The property will only be shown in coordination with the Listing Agent. 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. 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 Keegan & Coppin Company, Inc. Rhonda Deringer, Partner BRE # (707) RDeringer@KeeganCoppin.com 1355 N. Dutton Ave Santa Rosa, CA 95401