1730 PACIFIC COAST HIGHWAY, LOMITA, CA 90717

Transcription

1 SINGLE TENANT 20 YEAR NET LEASED PROPERTY FOR SALE 1730 PACIFIC COAST HIGHWAY, LOMITA, CA EXCLUSIVELY MARKETED BY MICHAEL GRANNIS Lic Phone: ex 2 mike.grannis@highlandpartnerscorp.com BRENT CUNNINGHAM Lic Phone: ex 1 brent.cunningham@highlandpartnerscorp.com 2200 Pacific Coast Highway, Suite 316 Hermosa Beach, CA 90254

2 TABLE OF CONTENTS SITE OVERVIEW 2 RENT ROLL 3 RENDERINGS 4 TENANT SUMMARY 5 RETAIL MAP 6 SOUTH BAY MARKET OVERVIEW 8 REGIONAL MAP 9 DEMOGRAPHICS 10 EXCLUSIVELY MARKETED BY MICHAEL GRANNIS Lic Phone: ex 2 mike.grannis@highlandpartnerscorp.com BRENT CUNNINGHAM Lic Phone: ex 1 brent.cunningham@highlandpartnerscorp.com 2017 Highland Partners Corp. The information being provided by Highland Partners Corp. and/or its sources is deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. Any information, measurements, facts and actual drawings shown are approximate, subject to change, or withdrawal without notice and should be independently verified by you and may not be relied upon as a precise representation by this office. No warranties or representations are made as to the condition of the property or any hazards contained therein nor any to be implied. HIGHLAND PARTNERS CORP Pacific Coast Highway, Suite 316 Hermosa Beach, CA 90254

3 SITE OVERVIEW Highland Partners Corp., as exclusive listing broker, is pleased to offer for sale a NNN leased asset located at 1730 Pacific Coast Highway, Lomita, CA. The property is 15,560 square feet of land with a ±850 square foot single tenant building currently leased to Starbucks Corporation. Brand New Freestanding Starbucks Drive Thru High Traffic Location in a Dense Trade Area Located along major retail corridor at Pacific Coast Highway & Western Ave Population within 3 miles is over 200,000 people Average Annual Household income of over $90,000 per year within 3 miles High Traffic Counts of over 61,000 Cars Per Day on Pacific Coast Highway at Western Avenue High daytime population of 76,519 employees within a three mile radius The subject property is located along Pacific Coast Highway which is the main retail corridor in the trade area. The property has a new 20-year lease with Starbucks Corporation with a projected annual rent of *$117,000 per year. Property Highlights Price $3,340,000 (3.5% CAP) Address 1730 Pacific Coast Highway Lomita, CA Total Building Area ±850 SF Total Land Area ±15,560 SF Tenant Starbucks Corporation Term 20 years *Annual Rent $117, Rental Increase 10% in year 11 and every five years thereafter Option Term Three, five- year extensions Lease Type NNN *Billboard income: $21,000/year (see rent roll) PAGE 2

4 RENT ROLL TENANT SIZE RENT PSF ANNUAL RENT LEASE START EXPIRATION OPTION NEXT INCREASE Starbucks 850 SF $9.41 $96, *April-2017 March-2037 Three-5 year April-2027 Regency Outdoor Advertising (Billboard) n/a n/a $21, Jun-2016 May-2031 Two-5 year June-2026 TOTAL 850 SF $117, *Exact Rent Start Date To Be Determined. Seller to credit any shortfall at Close of Escrow. PAGE 3

5 11'-6" RENDERINGS 4'-0" 11'-6" PACIFIC COAST HIGHWAY City of Lomita City of Los Angeles 4'-0" West Elevation BILLBOARD 11'-6" East Elevation ±850 SF North Elevation EAST ELEVATION 4 11'-6" South Elevation 2'-10" 4'-0" 2'-10" 2'-10" NORTH ELEVATION 1 1 NORTH ELEVATION 2'-10" WEST ELEVATION 3 4'-0" 6'-0" 1 NORTH ELEVATION 3 WEST ELEVATION SOUTH ELEVATION 2 6'-0" 2 SOUTH ELEVATION 4 EAST ELEVATION 258th Place 1 NORTH ELEVATION WEST ELEVATION SOUTH ELEVATION3 2 PAGE 4

6 TENANT SUMMARY Starbucks Corporation (NASDAQ: SBUX) World s Largest Coffeehouse Company Employs over 300,000 People S&P Rating: A- Starbucks Corporation is an international coffee and coffeehouse chain based in Seattle, Washington. Starbucks sells drip brewed coffee, espresso-based drinks, snacks and bakery items. As of March 23, 2016 there were 23,158 stores in 70 countries including 14,974 in the Americas, 5,743 in China/Asia Pacific, and 2,441 in Europe, Middle East and Africa. In fiscal year 2015, the company reported net revenues of almost $19.2 billion and net earnings of $2.76 billion. PAGE 5

7 RETAIL MAP SUBJECT PROPERTY PAGE 6

8 RETAIL MAP SUBJECT PROPERTY Rolling Hills Country Club Expansion 114 New Golf Front Homes Rolling Hills Estates PAGE 7

9 SOUTH BAY MARKET OVERVIEW The property is in the City of Lomita which is located in the South Bay region of Los Angeles County. The City benefits from a population base of approximately 20,000 people in a small 1.9 square mile area. The city borders Torrance to the north and west, Harbor City to the East and the affluent Palos Verdes Peninsula to the south. Lomita is home to a number of national retailers and has a growing population base with a tremendous increase in property values over the last decade. Pacific Coast Highway is the main thoroughfare connecting the South Bay from the Beach Cities to the 110 Freeway. Western Ave is a major north/south thoroughfare that connects residents from neighboring Rolling Hills and Palos Verdes. The property boasts tremendous visibility from all traffic directions and shares the intersection with many national retailers including McDonald s, Jack in the Box and Carl s Jr. PAGE 8

10 Simi Valley San Fernando 23 5 REGIONAL 405 MAP 2 Agoura Hills Burbank 134 Glendale 210 Pasadena Glendora West Hollywood Beverly Hills LOS ANGELES Pomona 66 Ontario Fontana Culver City 110 Maywood Chino PACIFIC OCEAN Los Angeles International Airport Santa Monica Bay Palos Verdes Point Inglewood Lennox Hawthorne Gardena Compton 710 Paramount Torrance 213 Lomita 1730 Pacific Coast Highway Carson 1 Los Angeles Harbor Lynwood Long Beach San Pedro Bay Downey 19 Lakewood Seal Beach 91 Norwalk 5 Cypress Stanton Huntington Beach Fullerton Garden Grove 22 Fountain Valley 405 Anaheim Costa Mesa 57 Placentia 55 Orange John Wayne Airport Yorba Linda Tustin 261 Irvine 241 Chino Airport Corona Municipal Airport Norco Corona Riverside Municipal Airport Newport Beach 73 Laguna Hills PAGE 9

11 DEMOGRAPHICS 2016 Demographics 1-Mile 3-Mile 5Mile Population Estimated Population (2016) 35, , ,323 Projected Population (2021) 36, , ,404 Census Population (2010) 34, , ,003 Census Population (2000) 33, , ,003 Projected Annual Growth ( ) 1, % 6, % 14, % Historical Annual Growth ( ) 1, % 5, % 14, % Historical Annual Growth ( ) % 6, % 13, % Estimated Population Density (2016) Trade Area Size 11,222 psm 7,233 5,621 5,475 psm Trade Area Size 3.1 sq mi 28.3 sq mi 78.5 sq mi Households Estimated Households (2016) 12,765 67, ,246 Projected Households (2021) 13,351 70, ,120 Census Households (2010) 12,282 65, ,892 Census Households (2000) 12,124 63, ,083 Projected Annual Growth ( ) % 2, % 6, % Historical Annual Change ( ) % 4, % 10, % Age Median Age PAGE 10

12 DEMOGRAPHICS 1-Mile 3-Mile 5Mile Average Household Income Estimated Average Household Income (2016) $72,209 $90,411 $97,300 Projected Average Household Income (2021) $83,527 $106,335 $115,642 Census Average Household Income (2010) $67,265 $79,149 $84,615 Census Average Household Income (2000) $52,540 $64,852 $69,213 Projected Annual Change ( ) $11, % $15, % $18, % Historical Annual Change ( ) $19, % $25, % $28, % Daytime Demographics (2016) Total Businesses 1,317 8,320 20,380 Total Employees 8,758 76, ,801 Company Headquarter Businesses Company Headquarter Employees 4 6,667 22,896 Employee Population per Business 6.7 to to to 1 Residential Population per Business 26.8 to to to 1 Adj. Daytime Demographics Age 16 Years or Over 18, , ,600 Demographic Source: Applied Geographic Solutions 10/2016, TIGER Geography PAGE 11

13 CONFIDENTIALITY AGREEMENT PAGE 12 This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the Owner ), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and Highland Partners Corp. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or Highland Partners Corp, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or Highland Partners Corp. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Highland Partners Corp. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to Highland Partners Corp. EXCLUSIVELY MARKETED BY MICHAEL GRANNIS Lic Phone: ex 2 mike.grannis@highlandpartnerscorp.com BRENT CUNNINGHAM Lic Phone: ex 1 brent.cunningham@highlandpartnerscorp.com HIGHLAND PARTNERS CORP Pacific Coast Highway, Suite 316 Hermosa Beach, CA PACIFIC COAST HIGHWAY, LOMITA, CA 90717