27734 base line street highland, ca...• convenient, well accessed location – the offering...
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O F F E R I N G M E M O R A N D U M
27734 BASE LINE STREETHIGHLAND, CA
CAPITAL MARKETS : : NAT IONAL RETAIL PARTNERS - WEST
*Not actual property, used for representative purposes only.
OFFERING PRICE $2,847,000
NOI (YEAR 1) $121,000
CAP RATE (YEAR 1) 4.25%
CURRENT OCCUPANCY 100%
TOTAL BUILDING AREA ±2,543 SF
TOTAL LAND AREA ±31,121 SF (±0.71 acres)
PARKING SPACES ±21 (±8 spaces per 1,000 SF)
WEBSITE www.nrpwest.com/highlandjib
INVESTMENT SUMMARY
INVESTMENT HIGHLIGHTSSTABLE CASH FLOW
• Absolute NNN Lease – 100% NNN ground lease to Jack in the Box, one of America’s favorite fast-casual restaurants
» Jack in the Box (Nasdaq: JACK) has a market capitalization of $3 billion, a revenue of $2 billion, and operates 2,977 locations across 21 states and Guam
• Long-Term Lease – Jack in the Box is on a brand-new, long-term 20-year ground lease with 10% increases every 5 years, with four 5-year options to renew
• Income Growth – Due to embedded increases, the Net Operating Income is expected to grow more than $25,000 (21%) over the anticipated 10-year hold period
LOW MANAGEMENT HASSLE
• STNL Asset – Single-tenant, long term absolute NNN ground lease asset provides for essentially zero landlord obligations or oversight
• NNN Expense Pass Through – Tenant pays 100% of all repairs and maintenance making Jack in the Box an excellent investment for out-of-town or passive investors
• Long-Term Lease – Brand-new, long-term ground lease expiring in 2038 (not including options), virtually eliminating leasing responsibility and associated capital costs
• Brand New Construction – Prototype building for Jack in the Box including a drive-through, to be completed in 2018 with no deferred maintenance or near-term capital requirements that can drain cash flow
J A C K I N T H E B O X : : 2 7 7 3 4 B A S E L I N E S T R E E T , H I G H L A N D , C A1 © 2018 CBRE, Inc. All Rights Reserved.
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San Bernardino
Pacific High School
San Gorgonio High School
San BernardinoInternational Airport
HIGH IDENTITY, HIGH TRAFFIC LOCATION
• Freeway Adjacent Location – Jack in the Box benefits from its freeway-adjacent location along the I-210 Freeway (±80,000 cars per day)
• Convenient, Well Accessed Location – The offering benefits from its tremendous location at the on-ramp of the I-210 at Base Line Road
• Hard Corner, Signalized Location – Jack in the Box is located at the signalized “hard corner” of the I-210 and Base Lane, providing exceptional visibility and signage presentation
» Jack in the Box features prominent 60 foot pylon signage, optimizing its freeway-frontage location
• Residential Location – Proximity to commercial and residential density—this location serves the higher-income level communities in Highland
SOLID INLAND EMPIRE DEMOGRAPHICS
• More than 14,522 people in a 1-mile radius with an Average Household Income exceeding $79,815
• More than 75,675 people in a 3-mile radius with an Average Household Income exceeding $76,410
• More than 188,999 people in a 5-mile radius with an Average Household Income exceeding $66,841
IDEAL 1031 EXCHANGE REPLACEMENT OR ADDITION TO A PORTFOLIO
• Trophy Asset – Brand-new Jack in the Box with no deferred maintenance or near-term cap ex
• No Existing Financing – Jack in the Box will be delivered free and clear of existing debt, allowing an investor to pay cash or obtain new financing at low Treasury rates
• Coupon Clipper – Single-tenant, NNN ground lease asset, perfect of a passive investor looking to “clip coupons”
LOCAL MAP
1-MILE3-MILE5-MILE
N
C A P I T A L M A R K E T S : : N A T I O N A L R E T A I L P A R T N E R S - W E S T 2
BASE LINE ST (±20,500 CPD)
BOULDER AVE (±11,300 CPD)HIGHLAND
33 MILES TO BIG BEAR LAKE, CA
WALMART SUPERCENTER
HIGHLAND VILLAGE PLAZA
HIGHLAND AVENUE PLAZA
SR-330 FREEWAY
STARBUCKS COFFEE
SR-210 FREEWAY (±80,000 CPD)
N
LAKE ARROWHEAD BIG BEAR LAKE
POPULATION
+12K
ANNUAL VISITORS
2.4MPOPULATION
+11K
ANNUAL VISITORS
6M
J A C K I N T H E B O X : : 2 7 7 3 4 B A S E L I N E S T R E E T , H I G H L A N D , C A3
DEMOGRAPHICS HIGHLAND CITY SAN BERNARDINO COUNTY
2017 Est. Population 54,999 2,153,382
2022 Proj. Population 56,577 2,234,728
2017 Est. Households 15,858 640,223
2017 Avg. Household Income
$81,777 $78,051
Source: CBRE Location Analytics & Mapping, 2018
HIGHLAND, CA SAN BERNARDINO COUNTY• Highland is primarily a residential community with a population of
approximately 55,000 residents. The city is home to East Highlands Ranch, a master-planned community featuring premium housing and private recreation facilities. Currently there are six different residential developers building as well.
• Flanked by the snowcapped peaks of the San Bernardino and San Gabriel Mountains, Highland is close to an array of skiing and other mountain recreational opportunities. The community is home to an extensive system of trails that links to the popular Santa Ana River Trail, which will soon connect the San Bernardino Mountains to the Orange County Coast.
• The greater Highland/Inland Empire is home to several prestigious medical institutions. These facilities include the world-renowned Loma Linda University Medical Center (1,045 beds), Arrowhead Regional Medical (456 beds), Eisenhower Medical Center (463 beds), and Kaiser Foundation Hospitals (131).
• Highland is promximate to colleges and universities such as: University of Redlands (3,237 students), Loma Linda University (4,451 students), University of California at Riverside (23,278 students), and California State University, San Bernardino (20,461 students). The area’s community colleges include, San Bernardino Valley (12,720 students) and Crafton (5,937 students).
• The largest region of Southern California, the Inland Empire, comprised of both Riverside and San Bernardino Counties, is one of the most significant economies in the United States. It has been rated at the top of the class in growth for population, job creation, construction, and office space absorption over the last decade.
• Well poised for extreme growth, San Bernardino County has the fifth largest population in California with a total population exceeding 2,100,000 people. San Bernardino County’s population is expected to reach about 2.2 million by 2022. The county has added over half a million people in the past five years bringing its current population to 4.4 million.
• San Bernardino offers a strategic west coast location, with vast amounts of available land for future growth, a highly-skilled and educated work force, a sophisticated transportation infrastructure, and access to 27 colleges and universities, including seven research institutions. The area features a changing economic landscape with emerging technological productivity, and employing an excess of 1 million people.
• The fastest growing sectors in the region are projected to be healthcare and warehouse transportation. San Bernardino County is a major hub for logistics activity due to large ecommerce entities taking up millions of square feet of industrial warehouse space in and around Ontario International Airport.
• Each year, millions visit the Inland Empire to take advantage of the glorious desert winter, attend the Riverside County Fair (300,000 attendees), the Balloon and Wine Festival (4,000 attendees), the Palm Springs International Film Festival (135,000 attendees), the Paribas Open (439,000 people) at the Indian Wells Tennis Center, and both the Coachella (125,000 people per day) and Stagecoach (75,000 people per day) mega-concerts.
HIGHLAND
$330,000SB COUNTY
$285,000ANNUAL VISITORS (2016)
4.2 MILLION
LA/Ontario Intl. Airport (ONT)Source: Zillow.com - 5/18
For more information please visit: http://www.ci.highland.ca.us & http://www.sbcounty.gov/
C A P I T A L M A R K E T S : : N A T I O N A L R E T A I L P A R T N E R S - W E S T 4
LOCATION
27734 Base Line Street Highland, CA 92346
SITE
The Jack in the Box will be located at the NW corner of Base Line Street and
Seine Avenue in the city of Highland, CA.
LAND AREA
The listing consists of 2 parcels (APN details in
chart to the right) totaling approximately ±0.71 acres or ±31,121 SF of land area.
APN ADDRESS ACRES LOT
1200-461-82-0000 27734 Base Line St ±0.71 ±31,121
PBUILDING AREA
The subject location will consist of 1 retail building
totaling approximately ±2,543 SF of net rentable
area.
FRONTAGE & ACCESS
The site benefits from approximately ±112 linear
feet of frontage along Base Line Street and
approximately ±278 linear feet of frontage along Seine
Avenue.
After construction, the property will offer 1 entrance
off Messina Street and 1 entrance off Seine Avenue.
PARKING
Jack in the Box will provide ±21 parking stalls, which equates to ±8 spaces per
1,000 SF parking ratio.
TRAFFIC COUNTS
210 Freeway ...±80,000 CPDBase Line St ...±20,500 CPDBoulder Ave.....±11,300 CPD
BUILT
The Jack in the Box is scheduled to be completed
in 2018.
ZONING
Per the City of Highland, the subject site is currently
zoned as GG – General Commercial.
PROPERTY DESCRIPTION
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PARCEL MAP
J A C K I N T H E B O X : : 2 7 7 3 4 B A S E L I N E S T R E E T , H I G H L A N D , C A5
REGIONAL MAPSITE PLAN
SEIN
E A
VEN
UE
MESSINA STREET
BASELINE STREET
173
33018
38
38
38
3838
60 60
79
210
210259
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138
210210
21066
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15Chino
Ontario
Upland
Jurupa Valley
Fontana
Rialto
Redlands
Yorba Linda
Corona
Sleepy Hollow
San Dimas
Montclair
Kaiser
Highland
Colton
Arlington
Eastvale
RanchoCucamonga
Riverside
SanBernardino
GreenValley LakeSkyforest
RunningSprings
Seven Oaks
Rimforest
Twin PeaksCrestlineKeenbrook
Lytle Creek
ScotlandMt Baldy
Mt SanAntonio
LakeArrowhead
Butler Peak
Big Bear Lake
MinnelusaFawnskin
Pomona
Glen Avon
Moreno Valley
Upland GameHunting Area
Chino HillsState Park
Chino Hills
Box SpringsMountain Park
La Verne Claremont
Alta Loma
Mira Loma
Rubidoux
San AntonioHeights Muscoy
Del Rosa
Bloomington
Valley College
Loma Linda
Cherry Valley
Hinda
MoonlightRim
Home Gardens
El Casco
Highgrove
Declezville
Mission Grove
March AirReserve Base
BeaumontBanning
Woodcrest
La Sierra
Norco
Mentone
Angelus Oaks
Forest Falls
MountainHome Village
Oak Glen
Yucaipa
Calimesa
Pinezanita
NealeysCorner
N N
3-MILE
5-MILE
10-MILE
(NAP)
C A P I T A L M A R K E T S : : N A T I O N A L R E T A I L P A R T N E R S - W E S T 6
BASE
LIN
E ST
(±20
,500
CPD
)
SR-210 FREEWAY (±76,000 CPD) N
J A C K I N T H E B O X : : 2 7 7 3 4 B A S E L I N E S T R E E T , H I G H L A N D , C A7
TENANT PROFILE GROUND LEASE ABSTRACT
JACK IN THE BOX LESSEE: OC FOOD EXPRESS, INC.
www.jackinthebox.com
Jack in the Box Inc. operates and franchises Jack in the Box quick-service restaurants and Qdoba Mexican Eats fast-casual restaurants primarily in the United States. It currently operates and has franchised approximately 2,251 Jack in the Box restaurants in 21 states and Guam; and approximately 726 Qdoba Mexican Eats restaurants in 47 states, the District of Columbia, and Canada.
OC Food Express, Inc - 24 Unit Jack in the Box entity, operators have additional locations, please inquiry with broker for additional details.
OWNERSHIP: NASDAQ: JACK
MARKET CAPITALIZATION: $2.7 billion
REVENUE: $1.5 billion
LOCATIONS: 2,977
EMPLOYEES 22,200
HEADQUARTERS: San Diego, CA
Tenant: OC Food Express, Inc. DBA Jack in the Box
Date Of Lease: 7/10/2017
Lease Term: 20 Years
Renewal Options: Four (4) - Five (5) year options
Rent/Yr: Years 1-5: $121,000 Years 6-10: $133,100 Years 11-15: $146,410 Years 16-20: $161,051
Option 1: $177,156.10 Option 2: $194,871.71 Option 3: $214,358.88 Option 4: $235,794.77
Permitted Use: Tenant must initially use and operate the Premises for purpose of a Jack-in-the-Box restaurant with drive-through lane featuring hamburgers and tacos. Thereafter the Premises may only be used for purposes of a restaurant for the sale of food and nonal-coholic beverages for consumption on and off the Premises, and for no other purpose, subject however to any use restrictions.
Right of First Offer:
Any sale or conveyance by Landlord to an unrelated third party of the fee interest in the Premises is subject to a right of first offer to Tenant. Tenant must give written notice of acceptance within seven (7) days. Upon consummation of the first sale of the Premises to a third party, Tenant’s ROFO shall terminate.
Insurance: Tenant shall carry and maintain at Tenant’s sole cost and expense:
Builder’s risk insurance – Required to cover the replacement of the intended improvements.
Property Insurance – For no less than 100% of the full replacement cost of the covered items.
Commercial general liability insurance – In an amount not less than $3,000,000 per occurrence.
Motor vehicle liability insurance – With combined limits of not less than $2,000,000 per occurrence.
Business Income/Interruption Insurance – With coverage amounts that will reimburse Tenant for all direct and indirect loss of income, and charges and costs incurred arising out of all named perils insured against by Tenant’s property insurance coverage.
Worker’s compensation insurance – With limits of liability not less than $1,000,000, each accident; $1,000,000, disease policy limit; and $1,000,000 disease each employee.
Real Estate Taxes:
Tenant agrees to pay 100% of all taxes and assessments on the land and improvements constituting the Premises. If a “change in ownership” occurs more than twice during any consecutive 5-year period during the Term, and if as a result the Premises are reassessed at their then current market value for real estate tax purposes by the appropriate governmental authority pursuant to Proposition 13, which reassessed current market value exceeds the previously assessed market value of the Premises, Tenant shall not be obligated to pay that portion of the increase, if any, in Impositions, taking into account the Reassessment, that is solely attributable to the Reassessment.
Utilities: Tenant agrees to pay all charges for water, gas, heat, electricity, power, telephone, sewer service, trash service, pest control, and all other services or utilities used in, upon, or about the Premises.
Repairs and Maintenance:
Tenant agrees at its sole cost and expense, to diligently maintain and repair in good order, to make all necessary replacements of the Premises and every part thereof, including, without limitation, the Building and all improvements, equipment, fixtures, furnish-ings, utilities and appurtenances, both interior and exterior, structural and non-structural, ordinary and extraordinary, located in, on, or under serving the Premises, and to whatever extent the necessity or desirability of repairs may occur.
Tenant Assignment and Subletting:
Except for “Permitted Transfers” Tenant may not either voluntarily or by operation of law, assign, mortgage, encumber or hypothecate this Lease or any interest therein, or permit the use of the Premises by any person or persons other than Tenant, its agents and employees, or sublet the Premises or any part thereof, without in each instance obtaining Landlord’s prior written consent which shall not be unreasonably withheld.
C A P I T A L M A R K E T S : : N A T I O N A L R E T A I L P A R T N E R S - W E S T 8
GLOBAL AVAILABLE SPACE LEASING SECOND GENERATION LEASING
Analysis Period Occupancy and Absorption Retention Ratio 80%
Commencement Date December 1, 2018 Projected Available at 12/1/18 0 SF
End Date November 30, 2028 Currently Available as of 6/1/18 0 SF Financial Terms
Term 10 Years Percentage Available at 6/1/18 0.00% 2018 Monthly Market Rent $4.00 PSF
Rent Adjustment 3.00% Annually
Area Measures EXPENSES Lease Term 10 Years
Building Square Feet (SF) 2,543 SF Operating Expense Source NNN [1] Expense Reimbursement Type NNN
Growth Rates Management Fee (% of EGR) None Tenanting Costs
Consumer Price Index (CPI) 3.00% Rent Abatements [2]
Other Income Growth Rate 3.00% Real Estate Taxes Reassessed Yes [1] New 3 Month(s)
Operating Expenses 3.00% Millage Rate 1.290800% Renewal 0 Month(s)
Real Estate Taxes 2.00% Special Assessments $163 Weighted Average 0.60 Month(s)
Market Rent Growth
FINANCING Tenant Improvements ($/SF)
CY 2019 - 3.00% New $35.00 PSF
CY 2020 - 3.00% Renewal $7.00 PSF
CY 2021 - 3.00% Weighted Average $12.60 PSF
CY 2022 - 3.00%
CY 2023 - 3.00% Commissions
CY 2024 - 3.00% New 6.00%
CY 2025 - 3.00% Renewal 1.20%
CY 2026 - 3.00% Weighted Average 2.16%
CY 2027 - 3.00%
CY 2028+ - 3.00% Downtime
New 6 Month(s)
General Vacancy Loss None Weighted Average 1 Month(s)
Capital Reserves (CY 2018 Value) None
ASSUMPTIONS
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
Bruce Francis + 1 602 735 1781 Lic. BK-0018505 [email protected]
Shaun Moothart +1 949 509 2111 Lic. 01773201 [email protected]
CBRE Debt & Equity Finance (DEF) is a division of CBRE Inc. In the US, DEF represents approxi-mately 300 lenders including: banks, life insurance companies, pension funds, CMBS lenders and a variety of other lending sources. DEF also acts as a correspondent for over 200 life insurance companies. The Quote above is an approximation of available terms.
For customized Debt Quotations, please contact:
Notes:All market rent rates are stated on calendar-year basis. [1] Tenant is NNN and pays all operating expenses.[2] Rent Abatement includes NNN charges as well as base rent.
J A C K I N T H E B O X : : 2 7 7 3 4 B A S E L I N E S T R E E T , H I G H L A N D , C A9
CASH FLOW
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
FISCAL YEAR 12/18-11/19 12/19-11/20 12/20-11/21 12/21-11/22 12/22-11/23 12/23-11/24 12/24-11/25 12/25-11/26 12/26-11/27 12/27-11/28 12/28-11/29
Physical Occupancy 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Overall Economic Occupancy [1] 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Total Operating Expenses PSF Per Year $15.64 $15.96 $16.29 $16.62 $16.97 $17.31 $17.67 $18.03 $18.40 $18.78 $16.92
[2]
FY 2019
REVENUES $/SF/MO
Scheduled Base Rent
Gross Potential Rent $3.97 $121,000 $121,000 $121,000 $121,000 $121,000 $133,100 $133,100 $133,100 $133,100 $133,100 $146,410
Absorption & Turnover Vacancy 0.00 0 0 0 0 0 0 0 0 0 0 0
Base Rent Abatements 0.00 0 0 0 0 0 0 0 0 0 0 0
Total Scheduled Base Rent 3.97 121,000 121,000 121,000 121,000 121,000 133,100 133,100 133,100 133,100 133,100 146,410
Expense Reimbursements NNN NNN NNN NNN NNN NNN NNN NNN NNN NNN NNN
TOTAL GROSS REVENUE 5.27 121,000 121,000 121,000 121,000 121,000 133,100 133,100 133,100 133,100 133,100 146,410
General Vacancy Loss 0.00 0 0 0 0 0 0 0 0 0 0 0
EFFECTIVE GROSS REVENUE 5.27 121,000 121,000 121,000 121,000 121,000 133,100 133,100 133,100 133,100 133,100 146,410
TOTAL OPERATING EXPENSES NNN NNN NNN NNN NNN NNN NNN NNN NNN NNN NNN
NET OPERATING INCOME 3.97 121,000 121,000 121,000 121,000 121,000 133,100 133,100 133,100 133,100 132,726 146,410
[1] This figure takes into account vacancy/credit loss, absorption vacancy, turnover vacancy, and base rent abatements.[2] Based on 2,543 square feet.
C A P I T A L M A R K E T S : : N A T I O N A L R E T A I L P A R T N E R S - W E S T 10
RENT ROLL
You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.
SUITE TENANT NAMESQUARE
FEET% OF
PROPERTY
LEASE TERM RENTAL RATES
RECOVERY TYPEMARKET ASSUMPTION /
MARKET RENTBEGIN END BEGIN MONTHLY PSF ANNUALLY PSF
A Jack in the Box 2,543 100.00% Dec-2018 Nov-2038 Current $10,083 $3.97 $121,000 $47.58 NNN Market
ASSUMED Dec-2023 $11,092 $4.36 $133,101 $52.34 $4.00 NNN
Dec-2028 $12,200 $4.80 $146,401 $57.57
Dec-2033 $13,421 $5.28 $161,048 $63.33
Notes:
Analysis assumes tenant is in-place as of the analysis start date with seller to guarantee any downtime or leasing costs. Tenant has Right of First Offer. Tenant has Prop 13 Protection for any tax increase resulting
“from more than two sales in any consecutive five (5) year period. Tenant has four (4)- five (5) year options at 110% of prior rent.
TOTALS / AVERAGES 2,543 $10,083 $3.97 $121,000 $47.58
OCCUPIED SF 2,543 100.0%
AVAILABLE SF 0 0.0%
TOTAL SF 2,543 100.0%
J A C K I N T H E B O X : : 2 7 7 3 4 B A S E L I N E S T R E E T , H I G H L A N D , C A11
AFFILIATED BUSINESS DISCLOSURE
CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).
CONFIDENTIALITY AGREEMENT
Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.
DISCLAIMER
This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which
prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.
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/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.
Pricing in this Offering Memorandum may not be accurate at any given point in time as market conditions including capitalization rates and other value indicators change frequently. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property.
Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.
CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners.
NRP-WEST
INVESTMENT ADVISORS
JIMMY SLUSHER+1 949 725 8507Lic. [email protected]
MEGAN WOOD+1 949 725 8423Lic. [email protected]
LOCAL MARKET
DEBT & STRUCTURED FINANCE
BRIAN MCDONALD +1 909 418 2020 Lic. 01002150 [email protected]
VANESSA HADDAD +1 909 418 2143 Lic. [email protected]
SHAUN MOOTHART +1 949 509 2111 Lic. 01773201 [email protected]
SEAN HEITZLER+1 949 725 8468Lic. [email protected]
NRP-WEST TEAM
Philip D. Voorhees Team Leader
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John Read Jimmy Slusher Megan Wood James Tyrrell
Eric ShainTrent Steeves
Preston Fetrow Kirk Brummer
John EddySean Heitzler Matt Burson
CBRE-Newport Beach 3501 Jamboree Rd., Ste 100 Newport Beach, CA 92660 F + 1 949 725 8545