american medical response building 6101 pacific street ......brand new 10-year nnn lease...

100% Leased Office/Flex InvestmentBrand New 10-Year NNN Lease $5,531,000.00 | 5.15% Cap Rate

INVESTMENT OFFERING

6101 Pacific Street, Rocklin, CAAmerican Medical Response Building

Steve TyrrellSenior Vice President, Shareholder916.751.3605 [email protected] #00461000

Jon R. WalkerSenior Vice President, Shareholder916.751.3631 [email protected] #01204666

Trevor FairringtonInvestments916.751.3626 [email protected] #02007424

An Essential Public Service Operation

6101 Pacific Street, Rocklin, CA




2This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

Investment Overview

Features

BUILDING SIZE ±10,263 SF

LOT SIZE ±74,052 SF (1.70 AC)

TENANT American Medical Response, Inc.

LEASE TYPENNN (The Landlord is only responsible for foundation, roof and structural portion of exterior walls)

LOCATION

• Near the corner of Pacific St & Sunset Blvd

• Quick access to I-80 & Highway 65• 2.6 miles to Sutter Health• 3.5 miles to Kaiser Permanente • 3 miles to the Roseville Galleria

& The Fountains

SALE PRICE $5,531,000.00

NOI $284,834.00

CAP RATE 5.15%






Lease Summary

Square Feet: ±10,320 SF single story

Occupancy: 100%

Initial Term: July 5, 2007

Lease Start: April 1, 2019

Lease End: July 31, 2029

Rent: $23,633.00/month, $283,596.00/year (Starting 10/1/2019)

Lease Type: NNN (The Landlord is only responsible for foundation, roof and structural portion of exterior walls)

Options: Two (2) five (5) year renewal options at Fair Market Value Rental Rate

Termination Option: Tenant shall be granted a one-time option to terminate the Lease upon no less than six (6) months prior written notice to Landlord effective between the sixty-third (63) and sixty-ninth (69) month of the Term, but only if Tenant loses its contract for emergency medical transportation with Placer County. Within thirty (30) days of such notice, Tenant shall pay Landlord a termination fee equal to nine (9) months of base rent at the then current rate.






Property Overview

Floor Plan: 10,263 SF

Front of Building

Back of Building

N






Property Overview

Parcel Map: ±72,745 SF

N

APN 046-010-070-000

SITE






Property Overview

Aerial Map

N

Pacific St

Sunset Blvd

New Building Development under Construction

Red Sun Auto Repair

California Transmission

SITE






Financial Overview

STARTING OCTOBER 1, 2019

GROSS SCHEDULE RENT INCOME: $284,834.00

LESS VACANCY (100% LEASED): 0%

LESS OPERATING EXPENSE (PURE NNN): $0.00

NET OPERATING INCOME: $284,834.00

PURCHASE PRICE: $5,531,000.00

CAPITALIZATION RATE: 5.15%

This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

kiddermathews.com





8

Photos

Front Entrance

Classroom

Kitchen

Warehouse

Southwest View of Building

Restroom






About the Tenant

American Medical Response, Inc. is a medical transportation company in the United States that provides and manages community-based medical transportation services, including emergency, non-emergency and managed transportation, fixed-wing air ambulance and disaster response.

ABOUT

AMR was founded in 1992 when several regional ambulance providers consolidated into a single company.

Envision Healthcare, sold AMR to KKR in early 2018. KKR & Co. Inc. (formerly known as Kohlberg Kravis Roberts & Co.) is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. The firm has completed more than 280 private equity investments in portfolio companies with approximately $545 billion of total enterprise value as of June 30, 2017. As of September 30, 2017, Assets Under Management (“AUM”) and Fee Paying Assets Under Management (“FPAUM”) were $153 billion and $114 billion, respectively.

In March of 2018, AMR became part of Global Medical Response (a KKR portfolio company), the largest medical transportation company

in the world.

Galleria B

lvd

Paci

fic S

t

Lead Hill Blvd

Eureka Rd

N Sun

rise

Ave

SITE

Atlantic St

E Roseville Pkwy

Douglas Blvd N






Location Overview

Rio LindaNorth Highlands

Roseville

FolsomEl Dorado Hills

Folsom Lake

Rocklin

Rancho CordovaSacramento

SITE

20 miles from Downtown Sacramento

105 miles from San Francisco

100 Miles from Lake Tahoe

LOCATION HIGHLIGHTS

Fruitridge Rd

Po

wer Inn R

dH

ow

e Ave

Watt A

ve

Fair

Oak

s Blvd

Madison Ave

Sunrise A

ve

Citrus Heights

Douglas Blvd

Fair Oaks

Granite Bay

N

Downtown Sacramento






Market Overview

Roseville/Rocklin Office Market

Market Statistics vs. Previous Year

Roseville/Rocklin is one of Sacramento’s largest office submarkets and includes a wealth of high-end product. About 3.7 million SF, or nearly 30% of inventory, is 4 & 5 Star rated. As one of Sacramento’s most affluent suburban areas, many of the metro’s noteworthy tech employers are located here, in addition to other corpo-rate occupiers.

About 440,000 SF is under construction, which is in stark contrast to most of this cycle. The submarket received a barrage of new supply in the years leading up to the recession, but developers have largely been quiet this decade. This lack of supply, coupled with solid demand, led to many years of steady vacancy compression, in-cluding an all-time submarket low in 2017. However, the vacancy rate in recent quarters has increased, and rent growth has flagged.

Annual sales volume is typically strong because of the submarkets abundance of 4 & 5 Star product. After a record year in 2018, investment in 2019 is off to a healthy start due to the sale of a notable office park.

Data from CoStar

Daily Asking Rent Per SF

$1.60

$1.65

$1.70

$1.75

$1.80

$1.85

$1.90

$1.95

15 16 17 18 19

© 2019 CoStar Realty Information Inc. 05/14/2019

Vacancy & Market Rent Per SF

8.0%

8.5%

9.0%

9.5%

10.0%

10.5%

11.0%

11.5%

12.0%

Vaca

ncy

Rat

e

$2.02

$2.03

$2.04

$2.05

$2.06

$2.07

$2.08

$2.09

$2.10

Mar

ketR

ent/S

F

Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19


Net Absorption

-300K

-200K

-100K

0

100K

200K

300K

400K

Net

Abs

orpt

ion

inS

F

09 10 11 12 13 14 15 16 17 18 19


NET ABSORPTION

ASKING RATES

OCCUPANCY

OFFICE BUILDINGS - ROSEVILLE/ROCKLIN

# of buildings 733

Market size (SF) 13 M SF

Vacancy rate 10.7%

SF vacant 1.4 M SF

Availability rate 12.5%

SF available 1.7 M SF

SF under construction 436 K SF

SF delivered in the last 4 quarters 11.2 K SF

Daily Asking Rent Per SF

Vacancy Rates

Net Absorption

SITERoseville

Rocklin

Citrus Hegihts

Sacramento





12

Direct all inquiries to:

Steve TyrrellSenior Vice President, [email protected] LIC #00461000

Jon R. WalkerSenior Vice President, [email protected] #01204666

Trevor FairringtonInvestmentstrevor.fairrington@kidder.com916.751.3626LIC #02007424

kiddermathews.com

american medical response building 6101 pacific street ......brand new 10-year nnn lease...

Documents