kuhn drive...tracy charles clark, senior vice president / partner kimberly c. clark, esq., vice...

TRACY CHARLES CLARK, Senior Vice President / Partner KIMBERLY C. CLARK, ESQ., Vice President

KUHN DRIVE881 CHULA VISTA

INVESTMENT OPPORTUNITY | MULTI-TENANT OFFICE/FLEX BUILDING

Exclusively Offered By:

EXECUTIVE SUMMARYEXECUTIVE SUMMARY ............................................ 3

PROPERTY DESCRIPTIONPROPERTY SUMMARY............................................. 4

FLOOR PLANS .......................................................... 5

PARCEL MAP ............................................................ 6

FINANCIALSOPERATING EXPENSES ........................................... 7

LOCATION OVERVIEWLAND USE DISTRICTS .............................................. 8

LOCATION AERIAL .................................................... 9

SUBMARKET OVERVIEW ........................................10

LOCAL RETAILERS ..................................................11

DEMOGRAPHICS .....................................................12


TABLE OF CONTENTS

LEASED I NVESTM ENT O FFER I N GWe are pleased to announce a new acquisition opportunity for a best in class, multi-tenant office/flex building in the award winning, master-planned community of Eastlake in Chula Vista. 881 KUHN DRIVE is a 35,571 square foot project comprised of 15 individual units. The property rests on approximately 2 acres of land (approximately 87,120 square feet) in a strategic location, giving the property excellent visibility and exposure. The project is occupied by 7 tenants, with 106 parking spaces- sufficient parking to accommodate a wide variety of allowable uses. Most units are substantially improved with significant tenant improvements.

Building signage is available for tenants above each individual suite and suites can be accessed directly from the exterior. Suites range from 1,440 square feet to 3,133 square feet – a size range that is in great demand in this market. Each unit has skylights and grade level roll-up doors. 881 Kuhn Drive will make a great addition to any investment portfolio.

8 8 1 K U H N D R I V E | E X E C U T I V E S U M M A RY | 3

EXECUTIVE SUMMARY


ADDRESS: 881 Kuhn Drive, Chula Vista, CA 91914

SQUARE FEET: 35,571 SF

LAND: 87,120 SF (2 Acres)

APN: 595-231-08

TENANCY: Multi-Tenant 94.3% Leased

STORIES: Two (Partial)

PARKING: 106 Parking Spaces

CONSTRUCTION: Reinforced Concrete

CEILING HEIGHT: 24’

YEAR BUILT: 2004

SPRINKLERS: Yes

PROJ ECT H I G H LI G HTS » Located in Eastlake Master-Planned Community

» Easy access to Hwy-125

» High visibility location

» Numerous restaurants and retail amenities within close proximity

» Adjacent to Scobee Park, a 7 acre private park and recreation area which includes volleyball, basketball and tennis courts, soccer and softball fields and picnic areas

» Common area recreational facilities

» 24’ minimum clear height in warehouse

PROJ ECT FEATU R ES

PROPERTY SUMMARY

PU RCHASE PR I CE: $8,8 0 0,0 0 0


SUITE 100SUITE 100

SUITE 101SUITE 102SUITE 103SUITE 104SUITE 105

SUITE 106

SUITE 207 SUITE 200SUITE 201SUITE 202SUITE 204SUITE 206 SUITE 203SUITE 204

B U I LD I N G A

M EZZAN I N E

FLOOR PLANS

B U I LD I N G B


PARCEL MAP

APN: 595-231-0 8


OPERATING EXPENSES

NOTE: Any increase in real estate taxes by reason of sale will be passed through to the tenants or for Learning Academy to be exempt.

ANNUAL INCOMEScheduled Gross Income (At 94% Leased) $613,200

CAM Reimbursements $79,212

Less Real Estate Tax Credit To Learning Academy -$27,072

GROSS INCOME $665,340

ACTUAL 2019 OPERATING EXPENSES

Building Maintenance & Repairs $23,007

Handyman $ $1,828

Association Assessments $3,938

Phone/Internet $2,065

Gas and Electric $4,038

Trash $10,781

Water $15,705

Landscaping $7,187

Management Fees $25,465

Pest Control $1,240

Alarm Contract $1,010

Roof Maintenance Contract $1,085

Insurance $6,830

Real Estate Property Taxes $30,817*

TOTAL OPERATING EXPENSES $134,996

NET OPERATING INCOME $530,344Price $8,800,000

Cap Rate 6.03%

*Current taxes after reduction for Learning Academy exemption


KUHN DRIVE881

CHULA VISTA

B USI N ESS CENTER MAN U FACTU R I N G SERVI CE D ISTR I CT (B C-2) This district is intended as an area for light industrial and limited service commercial uses which can meet high performance and development standards.

ALLOWED USES » Offices, businesses, medical, professional, real estate and

research

» Retail commercial when in conjunction with a permitted or conditional use

» High-Technology Uses

» Bio-Technical Uses

» Bio-Medical Uses

» Laboratories, dental, electrical, optical, mechanical and medical

LAND USE DISTRICTS

KUHN DRIVE

KUHN DRIVE

FENTON STREET

FENTON STREET

EASTLAKE PARKWAY

EASTLAKE PARKWAY


LOCATION | EASTLAKE


881 Kuhn Drive is located within the Eastlake Business Center in east Chula Vista. It is an integral part of the Award winning Eastlake planned community. From 881 Kuhn Drive, there is ease of access to Highway 125, making it possible to be in Downtown San Diego within 15 minutes.

The Eastlake community has a growing business commercial district surrounded by many new residential communities. It has attracted many new businesses and many local residents have chosen to relocate their businesses to this area. Eastlake has been voted San Diego’s best new home community in the San Diego Union-Tribune since 1997.

SU B MAR KET AN D LO CATI O NLOCATION | EASTLAKE

Duncan Ran

ch Road Duncan Ranch Road

G

othan Street

Gotham Street

Chateau Court

Clubhouse Drive Clu bhouse Drive

Clubhouse Drive

R

ocki

ng H

orse

Driv

e

Lane Avenue Lane Avenue Lane Avenue

S

outh

Gree

nsvi

ew D

rive

N

orth

Gre

ensv

iew

Driv

e

North

Greensview Drive North Greensview Drive

M

iller

Driv

e

Mt M

iguel Road M

acKenzie Creek Road MacKenzie Creek Road

Harold Place

St Claire Drive Santa Paula D

rive

Eastlake Drive

Showroo m

Place

Yosemite Drive

Yose

mite

Driv

e

Stone Gate Street

North Compass Circle

Gre

enbr

iar D

ruDrive

La Costa Avenue Torrey Pines Road

Otay Lakes Road

Corral Canyon Road

Otay Lakes Road

Otay Lakes Road

Corral Canyon Road

Hunte Parkway

Hunte Pa

rkway

Hunte Parkway

Rutgers Road

Telegraph Canyo

n Road

Eastlake Parkway

East

lake

Par

kway

East

lake

Par

kway

East LakeHigh School

Chula VistaCommunity

Park

EastlakeMedical &

Professional Center

ScobeePark

AugustaPark

Salt CreekCommunity

Park

Eastlake

BonitaCanyon

Park

EastlakeLittle

LeagueEastlake GreensGolf Course

EASTLAKEGREENS

EASTLAKEBUSINESS

PARK

Ti�any Park

ROLLING HILLS RANCH

EASTLAKE

Eastlake Drive

Otay Lakes Road

Fenton StreetFenton Street

VILLAGE

CENTER

EASTLAKEWOODS

EASTLAKEWOODS WEST

SALT CREEK RANCH

Otay Lakes Road

La Media Road

EASTLAKEBUSINESS

CENTER

EASTLAKELAND SWAP

EASTLAKETRAILS

SAN MIGUELRANCH

BONITA LONGCANYON

Boswell Road

Vons Shopping

Center

BonitaHigh

School

East H Street

E

ast H Stre

et

Ea

st H

Stre

et

East H Street

Proctor Valley Road Proctor Valley Road

Proctor Valley Road

Old Janal Ranch

Road Old Janal Ran

ch Road

Northw

ood Drive Route 9


EastlakeCountry Club

125

E H ST

REET

E H ST

REET

PROCTOR VALLEY ROAD

PROCTOR VALLEY ROAD

LANE

AVE

NUE

LANE

AVE

NUE

HUNTE PARKWAY

HUNTE PARKWAY

OTAY LAKES ROAD

OTAY LAKES ROAD

OTAY LAKES ROAD

OTAY LAKES ROAD

BOSWELL ROADBOSWELL ROAD

EASTLAKE PARKWAY

EASTLAKE PARKWAY

KUHN DRIVE881

CHULA VISTA

FETNTON STREETFETNTON STREET


LOCAL RETAILERS

KUHN DRIVE881

CHULA VISTA


DEMOGRAPHICS

Based on a 5 mile radius

Av e ra g e H o u s e h o l d I n c o m e : $ 9 8 , 9 2 9 P o p u l at i o n : 1 9 8 , 4 1 9

Voit Real Estate Services (“Voit”) has been retained as exclusive advisor and broker to 881 Kuhn Drive,

LLC (“Seller”) regarding the sale of881 Kuhn Drive, Chula Vista, CA 91914 (“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 Seller or the Property, 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 Seller and Voit. 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. Neither the Seller nor

Voit, nor any of their respective directors, officers, affiliates or representatives make any representation

of 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. The Seller expressly reserves the right, at its sole discretion, to reject any or

all expressions of interest or offers to purchase the Property and/or terminate discussions with any

entity at any time with or without notice which may arise as a result of review of this Memorandum.

The Seller 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 Seller and any conditions to the

Seller’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 prior written authorization of the Seller or Voit. You also agree that you will not use this

Memorandum or any of its contents in any manner detrimental to the interest of the Seller or Voit. 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.

The Seller reserves the right to sell or withdraw the Property at any time without prior notice. It is the

Seller’s preference to close this transaction as soon as possible. All investors should base their offers

and pricing on the “as-is”, “where-is” condition of the Property. Qualified prospective investors will have

the opportunity to inspect the Property. Each prospective investor is to rely upon its own investigation,

evaluation, and judgment as to the condition of the Property. In order to expedite underwriting and upon

request, the prospective investors will be given access to due diligence information, and any information

provided by Seller to Voit.

DISCLAIMER

KUHN DRIVE

KUHN DRIVE

FENTON STREET

FENTON STREET

EASTLAKE PARKWAY

EASTLAKE PARKWAY

SCOBEE PARKSCOBEE PARK

KUHN DRIVE881

CHULA VISTA

TRACY CHARLES CLARKSenior Vice President / Partner | 858.458.3339 [Direct][email protected] | Lic. #00641800

KIMBERLY CLARK, ESQ.Vice President | 858.458.3343 [Direct][email protected] | Lic. #01439305

4180 La Jolla Village Drive, Suite 100, La Jolla, CA 92037 • 858.453.0505 • 858.408.3976 Fax • Lic #01991785 | www.voitco.com

Licensed as a Real Estate Broker and Salesperson by the DRE. The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its accuracy, we do not guarantee it. ©2020 Voit Real Estate Services, Inc. All Rights Reserved. Real People. Real Solutions.® is a registered trademark of Voit Real Estate Services.


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