peregrine center€¦ · peregrine center. 2. non-endorsements confidentiality & disclaimer...

P E R E G R I N E C E N T E R3345 SOUTH WADSWORTH BLVD.

LAKEWOOD, CO 80227

Offering Memorandum

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N O N - E N D O R S E M E N T SC O N F I D E N T I A L I T Y & D I S C L A I M E R N O T I C E NON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap. All rights reserved.

ACTIVITY ID: ZAA0050222

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ADAM S. ZARDAssociate

Denver Office Direct: 303.328.2052Fax: 303.328.2010

[email protected]: CO FA100069500

BRIAN C. SMITH, CCIM, SIORFirst Vice President Investments


[email protected]: CO EA001311361

EXCLUSIVELY LISTED BY

CHADD NELSONAssociate



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P E R E G R I N E C E N T E R3345 SOUTH WADSWORTH BLVD. // LAKEWOOD, CO 80227

Table of Contents

01 EXECUTIVE SUMMARY // 07 Offering Summary • Summary of Terms • InvestmentOverview & Highlights • Property Photos

03 MARKET OVERVIEW // 23City Overview & Highlights • Demographics

02 PROPERTY SUMMARY // 13Property Details • Property Expenses • Local MapAerial Images • Parcel Map • Floor Plans • Interior Photos

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E X E C U T I V ES U M M A R Y

Peregrine Center

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S U M M A R Y O F T E R M S

INTEREST OFFERED

Marcus & Millichap is marketing for sale to qualified investors an opportunity to acquire 100 percent fee simple Interest in the subject property. Seller shall assign to purchaser all leases encumbering the property at Closing.

OFFERING PROCESS

The property is being offered on an open bid basis. Prospective purchasers will be notified if a call for offers or best and final date is set; however, Seller intends to review offers as they are submitted and will respond promptly to all offers. Please contact the listing brokers to discuss submitting a Letter of Intent to purchase.

FINANCING

The property is being offered free and clear of any existing debt and prospective purchasers shall be afforded the opportunity to obtain a new financing for acquisition. Prospective purchasers are encouraged to submit proof of funds, expected loan terms, and a preliminary approval from lender with a Letter of Intent. Marcus & Millichap Capital Corporation has also sourced potential lenders for this acquisition and the listing brokers can provide terms upon request.

PROPERTY TOURS

Prospective purchasers are encouraged to visit the subject property prior to submitting a Letter of Intent; however, all property tours must be arranged with the listing broker or landlord only. Under no circumstances should any prospective purchaser or related entity contact the tenant, on-site management, or employees. Recipients of this offering memorandum acknowledge that such contact may damage the tenant’s operations which may impair the financial results. The landlord/seller reserves the right to seek legal redress for any damage that may occur from such interference with their relationship with tenant.

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3345 South Wadsworth Blvd. // Lakewood, CO 80227

NEW LIST PRICE

$1,495,000VITAL DATA

Price $1,495,000

Rentable Square Feet 12,539 SF

Price/SF $119.23

Year Built/Renovated 1984/2019

Lot Size 1.14 Acres

P E R E G R I N E C E N T E R

O F F E R I N G S U M M A R Y

SQUARE FEET

12,539 SF

PRIOR LIST PRICE

$1,950,000

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Marcus & Millichap is pleased to present the Peregrine Center, a vacant, beautifully remodeled, 12,539 gross square

foot, Class C Office Building located in Lakewood, Colorado. The property, located at 3345 Wadsworth Boulevard, lies

just off of the northwest corner of US-285 and South Wadsworth Boulevard. It is approximately 11 miles southwest from

downtown Denver and less than 40 miles from Denver International Airport. Situated on a 1.14 acre lot, the former bank

building was built in 1984, remodeled in 2019 and includes ample parking and a bank vault. This property provides the

opportunity for a single owner/user to occupy the entire space, or division to accomdate multiple tenants. 3345 South

Wadsworth Boulevard offers an owner/user or investor a truly unparalleled opportunity to own a beautifully remodeled,

former bank building, located in a great location in Lakewood, Colorado.

I N V E S T M E N T O V E R V I E W

Great Location at US-285 and S. Wadsworth Blvd.

12,539 Gross SF on a 1.14-Acre Lot

50 Parking Spaces with 3.99/1,000 SF Ratio

Former Drive Thru Banking Lanes to Potentially Use as Covered Parking

Beautifully Remodeled in 2019

Includes Bank Vault

I N V E S T M E N T H I G H L I G H T S

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50 PARKING SPACES WITH OPTION FOR MORE

LOCATED AT US-285 & S. WADSWORTH BLVD.

BANK VAULT INCLUDED REMODELED IN 2019

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P R O P E R T YS U M M A R Y

Peregrine Center

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L O C A L M A P / / L A K E W O O D

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PEREGRINE CENTERW HAMPDEN AVE

W HAMPDEN AVE

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W CORNELL AVE

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US HIGHWAY 285

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P R O P E R T Y D E T A I L S & E X P E N S E S

PROPERTY DETAILS

Rentable Square Feet 11,640 SF Year Built/Renovated 1984/2019

Lot Size 1.14 Acres Type of Ownership Fee Simple

Number of Buildings 1 Occupancy Vacant

Number of Stories 2 Parking 50 Spaces

PROPERTY EXPENSES

Expenses Estimated Costs

Maintenance & Repairs $17,276

Taxes $24,593

Snow Removal $261

Trash Service $2,159

Gas & Electric $24,065

Water $1,647

Fire Ext. Protection $120

Fire Alarm $624

Property Insurance $6,562

TOTAL $77,307

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PEREGRINE CENTER

DENVER INT.AIRPORT

DENVERDENVER

AURORAAURORA

LAKEWOODLAKEWOOD

BROOMFIELDBROOMFIELD

WHEATRIDGEWHEATRIDGE

THORNTONTHORNTON

LITTLETONLITTLETON

CENTENNAILCENTENNAIL

I-25

I-70

I-76

285

I-225

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F L O O R P L A N

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M A R K E T O V E R V I E W

Peregrine Center

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D E N V E R / / C O L O R A D O

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D E N V E R O V E R V I E W EMPHASIS ON SKILLED JOBSDenver’s highly educated labor force attracts tech employers. Roughly 41 percent of residents age 25 and older hold at least a bachelor’s degree.

GROWING ALTERNATIVE-ENERGY SECTORThe National Renewable Energy Laboratory located in Golden helps lure energy-related businesses to the region.

MAJOR TRANSPORTATION CENTERDenver serves as the vital transportation gateway to the West, with a well-developed infrastructure. The region is accessed by three interstates and two freight rail lines.

METRO HIGHLIGHTS

Key drivers of the region’s economy include aerospace, bioscience, energy, financial services, healthcare, aviation, information technology and telecommunications.

Denver’s economy is expanding, with the annual change in gross metropolitan product (GMP) expected to reach 2.7 percent this year.

Many of Denver’s largest employers are in population-serving businesses such as retail and healthcare, and their expansion will track population and income growth.

There are 10 Fortune 500 companies located in the metro, including Newmont Mining, DISH Network, DaVita Healthcare, Molson-Coors Brewing and Liberty Media.

ECONOMY

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DEMOGRAPHICS

2018POPULATION:

2.9MGROWTH

2018-2023*:

6.0%

2018HOUSEHOLDS:

1.1MGROWTH

2018-2023*:

7.4%

2018MEDIAN AGE:

36.5U.S. MEDIAN:

38.0

2018 MEDIANHOUSEHOLD INCOME:

$72,200U.S. MEDIAN:

$58,800

* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

DENVER OVERVIEW

The Denver-Aurora-Lakewood metro is at the center of Colorado’s Front Range, nestled at the convergence of the Great Plains and the majestic Rocky Mountains. The market consists of 10 counties: Broomfield, Arapahoe, Denver, Adams, Douglas, Jefferson, Clear Creek, Elbert, Gilpin and Park counties. Denver, which is both a county and a city, is the largest of each, with approximately 713,000 residents. Denver also houses the state capitol. The eastern and northern reaches of the metro are expected to receive the majority of future development, as land in these areas is relatively flat and more affordable. Denver’s elevation of 5,280 feet above sea level provides it with the nickname “Mile-High City.”

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P O P U L AT I O NIn 2018, the population in your selected geography is 12,837. The population has changed by 1.57% since 2000. It is estimated that the population in your area will be 12,954.00 five years from now, which represents a change of 0.91% from the current year. The current population is 47.23% male and 52.77% female. The median age of the population in your area is 33.93, compare this to the US average which is 37.95. The population density in your area is 4,080.25 people per square mile.

D E M O G R A P H I C S

E M P L O Y M E N TIn 2018, there are 9,314 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 71.96% of employees are employed in white-collar occupations in this geography, and 29.17% are employed in blue-collar occupations. In 2018, unemployment in this area is 4.56%. In 2000, the average time traveled to work was 29.00 minutes.

H O U S I N G R A C E & E T H N I C I T Y

I N C O M EH O U S E H O L D S

The median housing value in your area was $221,910 in 2018, compare this to the US average of $201,842. In 2000, there were 2,699 owner occupied housing units in your area and there were 2,876 renter occupied housing units in your area. The median rent at the time was $777.

The current year racial makeup of your selected area is as follows: 78.62% White, 2.39% Black, 0.18% Native American and 4.50% Asian/Pacific Islander. Compare these to US averages which are: 70.20% White, 12.89% Black, 0.19% Native American and 5.59% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 27.39% of the current year population in your selected area. Compare this to the US average of 18.01%.

In 2018, the median household income for your selected geography is $52,831, compare this to the US average which is currently $58,754. The median household income for your area has changed by 17.28% since 2000. It is estimated that the median household income in your area will be $59,529 five years from now, which represents a change of 12.68% from the current year. The current year per capita income in your area is $32,907, compare this to the US average, which is $32,356. The current year average household income in your area is $70,895, compare this to the US average which is $84,609.

There are currently 5,895 households in your selected geography. The number of households has changed by 5.74% since 2000. It is estimated that the number of households in your area will be 5,980 five years from now, which represents a change of 1.44% from the current year. The average household size in your area is 2.13 persons.

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POPULATION 1 MILE 3 MILES 5 MILES

2023 ProjectionTotal Population

12,954 118,813 330,601

2018 EstimateTotal Population

12,837 116,357 325,177

2010 CensusTotal Population

12,193 109,371 302,160

2000 CensusTotal Population

12,638 103,621 292,883

Daytime Populations2018 Estimate

9,512 88,415 273,589

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2023 ProjectionTotal Households

5,980 49,212 130,487

2018 EstimateTotal Households Average (Mean) Household Size

5,8952.13

47,5172.39

126,2342.53

2010 CensusTotal Households

5,637 44,586 117,386

2000 CensusTotal Households

5,575 42,110 111,422

HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES

2018 Estimate

$200,000 or More 3.38% 4.92% 4.77%

$150,000 - $199,999 2.66% 5.80% 5.89%

$100,000 - $149,999 11.31% 16.59% 16.18%

$75,000 - $99,999 14.10% 15.51% 15.60%

$50,000 - $74,999 21.46% 21.10% 19.72%

$35,000 - $49,999 18.06% 13.30% 12.89%

$25,000 - $34,999 12.70% 8.83% 8.70%

$15,000 - $24,999 8.30% 7.10% 8.07%

Under $15,000 11.72% 10.82% 11.42%

Average Household Income $70,895 $86,539 $84,768

Median Household Income $52,831 $65,758 $64,903

Per Capita Income $32,907 $35,660 $33,088

POPULATION PROFILE 1 MILE 3 MILES 5 MILES

Population By Age

2018 Estimate Total Population 12,837 116,357 325,177

Under 20 22.81% 22.63% 24.34%

20 - 34 Years 29.27% 23.14% 22.94%

35 - 39 Years 7.73% 7.00% 7.19%

40 - 49 Years 11.09% 12.05% 12.50%

50 - 64 Years 16.48% 19.07% 18.86%

Age 65+ 12.63% 16.09% 14.15%

Median Age 33.93 37.91 36.8

Population 25+ by Education Level

2018 Estimate Population Age 25+ 9,008 82,879 225,354

Elementary (0-8) 1.50% 2.56% 4.29%

Some High School (9-11) 6.15% 5.71% 7.67%

High School Graduate (12) 25.17% 25.21% 24.46%

Some College (13-15) 23.62% 22.68% 21.97%

Associate Degree Only 9.68% 7.28% 7.10%

Bachelors Degree Only 22.47% 23.89% 22.73%

Graduate Degree 10.99% 11.96% 10.71%

Time Travel to Work

Average Travel Time in Minutes 29 30 29

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CHADD NELSONAssociate



ADAM S. ZARDAssociate



BRIAN C. SMITH, CCIM, SIORFirst Vice President Investments


[email protected]: CO EA001311361

P E R E G R I N E C E N T E R3345 SOUTH WADSWORTH BLVD., LAKEWOOD, CO 80227

E X C L U S I V E L Y L I S T E D B Y

peregrine center€¦ · peregrine center. 2. non-endorsements confidentiality & disclaimer...

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