|||| south bay industrial portfoliof.tlcollect.com/fr2/715/32548/south_bay_ind_portfolio...building...
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INCLUDES 6 HIGHLY FUNCTIONAL BUILDINGS IN TWO PROJECTS TOTALING 284,960 SFSTRATEGIC INFILL SOUTH BAY LOCATION WITH EXCELLENT ACCESS TO MAJOR FREEWAYS
COMPTON &TORRANCE, CA
SOUTH BAY INDUSTRIAL PORTFOLIO
A CBRE NATIONAL PARTNERS INDUSTRIAL INVESTMENT OPPORTUNITY
40591
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19306-19426 S. NORMANDIE
CENTRAL AVE.
LA BUSINESS CENTER
1 SOUTH BAY INDUSTRIAL PORTFOLIO
Executive Summary
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EXECUTIVE SUMMARY
The OfferingCBRE, Inc. is exclusively offering for sale the South Bay Industrial Portfolio consisting of six properties totaling 284,960 square feet located in Compton and Torrance, California. Combined the properties are 100% leased to 11 quality tenants with a diversified rollover schedule over the next 4 years. This Portfolio represents a rare opportunity to acquire infill industrial product in the South Bay, one of the most highly desired industrial markets in the country.
LA Business Center in Compton consists of five buildings totaling 250,008 SF. The buildings are 100% leased to 9 tenants including attractive tenants such as Puritan Bakery, EcoSmart, and JFC International to name a few. The park features well-maintained landscaping, fenced yards and ample parking.
19306-19426 S. Normandie in Torrance PO is a quality multi-tenant industrial building totaling 34,952 SF that is 100% leased to Toyota Motor Sales through October 2018 and Metropolitan Stevedore Company through November 2016.
Located in the South Bay submarket in Los Angeles County, the Portfolio offers investors an opportunity to acquire highly functional industrial real estate in an infill location approximately 12 miles from the Ports of Los Angeles and Long Beach. The fee simple interest of the property is being offered on an “as-is”, “where is” basis.
• Institutional quality, single and multi-tenant industrial properties • 100% leased industrial portfolio totaling 284,960 SF• Diversified tenant mix with varying lease expirations • Buildings are individually parceled allowing for user sales in the future which can
garner a higher price• Strategic infill South Bay location with Proximity to Ports of Los Angeles & Long Beach• Strong market dynamics with a 1.6% vacancy rate and 1.8 MSF of net absorption
in 2014• Below replacement cost
SOUTH BAY INDUSTRIAL PORTFOLIO HIGHLIGHTS
Property LA Business Center Normandie Total
Address 1330 W. Walnut Parkway 1360 W. Walnut Parkway
1505 & 1575 W. Walnut Parkway1700-1800 W. Walnut Parkway
1515 W. Walnut StreetCompton, CA
19306-19426 S. Normandie
Los Angeles County (Torrance PO)
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Square Footage 250,008 SF 34,952 SF 284,960 SF
Office % ±7% ± 24% -
Acres 12.86 Ac 1.88 Ac 14.74 Ac
# of Buildings 5 1 6
# of Tenants 9 2 11
Occupancy 100% 100% 100%
Min. Clear Height 20’ 20’ 20’
DH/GL Doors 60/5 0/4 60/9
Year Built 1979-1980 1975 1975-198019306-19426 S. NORMANDIE
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South Bay Industrial PortfolioTorrance & Compton, CA
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PROPERTY HIGHLIGHTSInstitutional Quality Buildings• 19306-19426 S. Normandie, Torrance PO
◦ Free standing building with potential for user sale exit◦ Attractive features including secured yard and ample parking◦ Part of a 250 acre master-planned Pacific Gateway Center park◦ Los Angeles County address with benefits of a prestigious Torrance Postal code
• Los Angeles Business Center, Compton◦ Great dock door ratio ◦ Five (5) free standing buildings with potential for user sale exit ◦ Part of a larger 400 acre master-planned business park known as the Los Angeles
Industrial Center◦ Flexible sized buildings offering expansion within the park ◦ Features skylights and cap sheet insulation◦ Attractive landscaping, fenced yards and ample parking
Below Replacement Cost◦ Increasing construction costs and land values coupled with a lack of available
land have created barriers to new development. This provides an opportunity to purchase the properties at a price below replacement cost.
Value-Add, User Sale Opportunity ◦ The buildings are individually parceled and may be sold separately or together
to a user in the future, which can garner a higher sales price.
TENANCY HIGHLIGHTS• 19306-19426 S. Normandie, Torrance PO
◦ The property is 100% leased to Toyota Motor Sales through October 2018 and Metropolitan Stevedore Company though November 2016.
◦ Toyota Motor Sales is the U.S. sales, distribution and marketing unit for Toyota, Lexus and Scion brands. Toyota Motor Sales reported a 6.2% increase in sales in 2014 compared to 2013.
◦ Metropolitan Stevedore Company doing business as Metro Ports, provides stevedoring and terminal services with multiple locations nationwide.
• Los Angeles Business Center, Compton◦ The buildings are 100% leased to 9 quality tenants including Puritan Bakery,
EcoSMart, and JFC International to name a few. ◦ Offers staggered lease expirations with 21% roll in year 1, 5% roll in year
2, 21% roll in year 3 and 23% roll in year 4. This provides stability coupled with the ability to enjoy the upside to rents as the market is expected to continue to enjoy healthy rent growth.
19306-19426 S. NORMANDIE LA BUSINESS CENTER
3 SOUTH BAY INDUSTRIAL PORTFOLIO
Executive Summary
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LOCATION HIGHLIGHTSStrategic Locations with Excellent Freeway AccessThe properties are located in the South Bay cities of Torrance and Compton, CA in the South Bay submarket of Los Angeles county, a quality in-fill industrial market. The properties offer immediate access to key freeways. • 19306-19426 S. Normandie, Torrance PO
◦ Excellent location with great I-405 freeway access as well as proximity to other major freeways including the 110 Harbor Freeway (2 miles), the SR-91 Freeway (2.5 miles) and only 10 minutes away from the I210 and I105 freeways.
◦ The site is also only 15 miles away from the Ports of LA/ Long Beach and 10 miles from LAX Airport.
◦ Adjacent to the 27 acre Harbor Gateway retail center providing tenants with ample retail services including Wal-mart, Office Depot and Dollar Tree as well as a gym and an Extended Stay hotel.
• Los Angeles Business Center, Compton◦ High desired and accessible location central to multiple freeways including the
SR-91 located a block away, I-110 which is approximately 2 miles to the east and is only , I-710 and I-405 freeways.
◦ These buildings are also very close to the Ports of Los Angeles and Long Beach as well as the Los Angeles International Airport.
MARKET HIGHLIGHTSStrong Market Dynamics
◦ The South Bay market is one of the strongest industrial markets in the nation and is well positioned for future rent growth given the low overall vacancy rate of 1.6% as of the fourth quarter of 2014.
◦ During the fourth quarter of 2014, there was 420,108 of net absorption bringing the year to date total to 1.8 MSF.
◦ The South Bay is characterized by an abundance of institutional owners/developers who continue to seek high quality industrial product as scarcity of land and high construction costs increase barriers to entry.
◦ Within the South Bay market, Torrance and Compton are some of the strongest submarkets with very low vacancies rates of 2.4% and 1.7% respectively.
19306-19426 S. NORMANDIE
LA BUSINESS CENTER
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South Bay Industrial PortfolioTorrance & Compton, CA
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W Alondra BlvdCompton/Woodley Airport
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S Main St
Aval
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Wilm
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Long
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Atlantic Ave
Long Beach Rd
W Alondra Blvd
W Albertoni St
Gardena Fwy
E Walnut StGardena Fwy E Artesia Blvd
W Manville St
E Victoria St E Victoria St
W Victoria StE Victoria St
W Greenleaf Blvd E Greenleaf Blvd
E Carson St E Carson St
E Del Amo Blvd E Del Amo Blvd
E 213th St
San Diego Fwy
Harbor Fwy
E University Dr
E 220th St
Wilm
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S Ra
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E Market St
E South St
Atlantic Ave
E San Antonio Dr
E Bixby Rd
Avalon Blvd
San Diego Fwy
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El Camino CollegeCompton Center
Los A
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StubHub Center
Carson
NorthLongBech
Virginia Country Club
The Links AtVictoria Glolf Course
Los AngelesInternational Airport
Ports of Los Angelesand Long Beach
LOCAL MAP - LA Business Center, Compton, CA
LA BUSINESS CENTER
5 SOUTH BAY INDUSTRIAL PORTFOLIO
Executive Summary
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LOCAL MAP - 19306-19426 S. Normandie, Torrance CA
405
110
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213
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Bow
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S Va
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San Diego Fwy
190th St 190th St
187th St
187th Pl
Van Ness Ave
Wilton Pl
Gramercy Pl
Harborgate Way
S Normandie Ave
Figu
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Anelo Ave
Pacific Gateway Dr Magnellan Dr
Vermont Ave
Hamilton Ave
W Francisco St
Figueroa St
Harb
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Toyota Way
W 187th St
187th Pl
W Knox St
Francisco St
Knox St
Francisco St
Haas Ave
Walmart
Sky Zone
Del Amo BlvdW Del Amo Blvd
W Milton St
Berendo Ave
Catalina St
S ew Hampshire Ave
W 209th St
Torrance Blvd
S Royal Blvd
Doble Ave
S New Hampshire Ave
W 212th St
W 204th St
W 205th St
Harpers Way
Main St
Tech Way
South Ave
Arlington Ave
Cravens
AvePortola Ave
Sartori Ave
Higgins Ct
Manhattan Pl
S Harvard B lvd
W 213th St
W 209th St
Brighton AveW 211th St
W 212th St
S Delton Ave
S Denker Ave
Border Ave
W 204th St
W 209th St
W Clarion Dr
S M
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W 212th St
Los AngelesInternational Airport
Ports of Los Angelesand Long Beach
19306-19426 S. NORMANDIE
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South Bay Industrial PortfolioTorrance & Compton, CA
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REGIONAL MAP
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PerrisReservoir
GalwayDowns
San Fernando
Van Nuys
ShermanOaks
HollywoodBeverly Hills
Bel Air
SantaMonica
South LosAngeles
Torrance
RanchoPalos Verdes
San Pedro
Port ofLos Angeles
Compton
LynwoodHawthorne
GardenaManhattanBeach
MontereyPark
El Monte
Montebello
Pico Rivera
Downey
Norwalk
Lakewood
Westminster
Cypress
Seal Beach
Orange
Corona
El Cerrito
La SierraNorco
EastvaleMira Loma University
Yorba Linda
AnaheimHills
ChinoChino Hills
Fullerton
Citrus
Covina
Pomona
ClaremontRancho
Cucamonga FontanaRialto San
BernardinoColton
LakeArrowhead
Redlands
Temecula
LakeElsinore
SanClemente
LagunaNiguel
Dana Point
LagunaBeach
NewportBeach
Lake Forest
FoothillRanch
MissionViejo
Murrieta
Santa Catalina
Burbank
Pasadena
Ontario
HuntingtonBeach
Irvine
Riverside
Anaheim
Santa Ana
Port ofLong Beach
MorenoValley
Perris
Walnut
Los AngelesOntario
InternationalAirport
BurbankAirport
John WayneAirport
LAXAirport
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INTERMODAL YARDS
BNSF
1. BNSF Commerce Eastern2. BNSF Sheila3. BNSF Hobart4. BNSF San Bernardino5. BNSF Watson / Wilmington6. BNSF La Mirada7. BNSF Pico Rivera
1. UP City of Industry2. UP Colton3. UP Dolores4. UP LATC5. UP Mira Loma6. UP Anaheim7. UP Montclair8. UP Yermo
UNION PACIFIC
LA BUSINESS CENTER
19306-19426 S. NORMANDIE
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7 SOUTH BAY INDUSTRIAL PORTFOLIO
Executive Summary
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AERIAL - LA Business Center, Compton, CA
91
W.WALNUT ST.
CENTRAL AVE.
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1505-1575 W. WALNUT PARKWAY
1700-1800 W. WALNUT PARKWAY1515 W. WALNUT STREET
1360 W. WALNUT PARKWAY
1330 W. WALNUT PARKWAY
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South Bay Industrial PortfolioTorrance & Compton, CA
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AERIAL - 19306-19426 S. Normandie, Torrance CA
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NORMANDIE AVE.
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19306-19426 S. NORMANDIE AVENUE
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PR
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South Bay Industrial PortfolioTorrance & Compton, CA
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GATE
KNOX
STRE
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136’
257’
NORMANDIE AVENUE
19306 S. NORMANDIE22,449 SF
19426 S. NORMANDIE12,503 SF
N
FENCE
FENCE
44’5”
OVERSIZED GRADE LEVEL DOOR
GRADE LEVEL DOOR
19306 - 19426 SOUTH NORMANDIE
34,952 SF
SITE PLAN - 19306-19426 S. Normandie, Torrance CA
10 SOUTH BAY INDUSTRIAL PORTFOLIO
Property Descriptions
PR
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DESC
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W. WALNUT STREETW. WALNUT STREET
CENT
RAL A
VENU
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NTRA
L AVE
NUE
1701 WW32,008 SF
1575 WW40,731 SF
1535 WW13,577 SF
1505 WW27,154 SF
NOT A PART1490 WWNOT A PART
1700 WW
NOT A PART1999 WW
NOT A PART1401 WW
1515 WW28,530 SF
1360 WW24,000 SF 1330 WW
20,000 SF
1755 WW16,004 SF
1700-1800 WW48,004
461’
208’465’
175’
120’108’
209’
180’
119’
240’
N 1700-1800 W. WALNUT PARKWAY
96,016 SF 1505-1575
W. WALNUT PARKWAY81,462 SF
1515 W. WALNUT STREET
28,530 SF
1360W. WALNUT PARKWAY
24,000 SF
DOUBLE DOCK HIGH DOORINTERIOR DOUBLE DOORDOCK HIGH DOOROVERSIZED GRADE LEVEL DOOR
1330W. WALNUT PARKWAY
20,000 SFWALNUT PARKWAY
WALNUT PARK DR.
SITE PLAN - LA Business Center, Compton, CA
Offering integrated real estate capital markets solutions from strategy to execution—delivered by a seamless national partnership
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© 2014 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
CAPITAL MARKETS EXPERTS
LOCAL MARKET EXPERTS
DEBT & STRUCTURED FINANCE
Andrew Briner, CCIMFirst Vice PresidentLic. 01821872+1 909 418 [email protected] Inland Empire Boulevard, Suite 100Ontario, CA 91764
Scott SchumacherFirst Vice PresidentLic. 01078450+1 310 363 [email protected] Rosecrans Avenue, Suite 100El Segundo, CA 90245
Darla LongoVice Chairman/Managing DirectorLic. 00639911+1 909 418 2105 [email protected] Inland Empire Blvd., Suite 100Ontario, CA 91764
Rebecca Perlmutter Finkel, CFAVice PresidentLic. 01838624+1 310 922 [email protected] California Street, 44th FloorSan Francisco, CA 94111
Barbara EmmonsVice ChairmanLic. 00969169+1 213 613 [email protected] South Hope St. 25th FloorLos Angeles, CA 90071
Michael KendallSenior Vice PresidentLic. 01895979+1 909 418 2034 [email protected] Inland Empire Blvd, Suite 100Ontario, CA 91764
Val AchtemeierExecutive Vice PresidentLic. 01868169+1 213 613 [email protected] South Hope St.Los Angeles, CA 90071
NORTHEASTMichael D. HinesRobert FaheyLizann McGowanBrian FiumaraJerome KranzelBrad Ruppel
SOUTHEASTChris RileyFrank FallonBrian BudnickJennifer Klingler
SOUTH CENTRALJack FrakerJosh McArtorJonathan BryanHeather McClain
WESTDarla LongoBarbara EmmonsRebecca PerlmutterMichael KendallAndrew BrinerGina Christen
DEBT & STRUCTUREDFINANCEVal AchtemeierBrett Green
NORTH CENTRALMike CaprileTed StaszakStephanie Park
DEBT & STRUCTUREDFINANCESteve RothSteve Kundert
John SchumacherExecutive Vice PresidentLic. 01868169 +1 310 363 [email protected] Rosecrans Avenue, Suite 100El Segundo, CA 90245
Bret QuinlanExecutive Vice PresidentLic. 01144338+1 310 363 [email protected] Rosecrans Avenue, Suite 100El Segundo, CA 90245