red rock center - marcus & millichap...market overview norton een ecred ro orce e eee to e ree t...

Offering Memorandum

Red Rock CenterSan Marcos, CA

exclusively listedMark ThielVice President Investments4660 LA JOLLA VILLAGE DR, STE 900, SAN DIEGO, CA 92122Tel: (858) [email protected] CA License: 01469342

Adam AttiaAssociate4660 LA JOLLA VILLAGE DR, STE 900, SAN DIEGO, CA 92122Tel: (858) [email protected] License: 01520832

Exclusively listed by: Investment Sales:

OFFICES THROUGHOUT THE U.S. & CANADAwww.marcusmillichap.com

EAST-FACING AERIAL

red rock center

EXECUTIVE SUMMARYOffering Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . .2Investment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . .3Summary of Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

PROPERTY DESCRIPTIONProperty Details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8Location Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9Local Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10Neighborhood Map . . . . . . . . . . . . . . . . . . . . . . . . . . .11Site Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12Tenant and Lease Summaries . . . . . . . . . . . . . . . . . . 13-16

MARKET OVERVIEWDemographic Summary . . . . . . . . . . . . . . . . . . . . . . . .19Market Overview . . . . . . . . . . . . . . . . . . . . . . . . . . 20-23

Table of Contents

NORTHWEST-FACING AERIAL

summaryE X E C U T I V E S U M M A R Y

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EXECUTIVE SUMMARY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap

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Red Rock Center2055-2085 Montiel Road, San Marcos, CA 92069

Offering SummaryPrice $19,100,000

Current Occupancy 92%

Gross Leasable Area (GLA) 74,008 SF

Price/SF $ 258.08

Year Built 1990

Lot Size 6.31 Acres

Loan Amount $12,415,000

Loan-to-Sale Ratio 65.00%

Interest Rate 4.50%

Term 10 Years

Amortization 30 Years

Tenant Roster Cont.TENANT GLA (SF) LEASE EXP LEASE TYPE

FAN DIEGO 2,260 10/1/19 NNN

SOKA GOKKAI 5,420 6/15/18 NNN

VETERINARYHOSPITAL 10,581 6/30/19 NNN

DANCE FX 4,820 7/31/19 NNN

BICYCLE WAREHOUSE 2,410 3/31/21 NNN

UEI COLLEGE 24,656 3/31/20 NNN

TENANT GLA (SF) LEASE EXP LEASE TYPE

TURNER’S OUTDOORSMAN 5,479 2/28/21 NNN

SOLA SALON 4,898 7/31/24 NNN

HOBBY TOWN 2,578 2/28/21 NNN

SAN DIEGOGRILL PROS 2,575 3/31/18 NNN

AVAILABLE 5,756 n/a n/a

SPORT & SPINE PT 2,575 1/31/19 NNN

Tenant Roster

Offering Highlights

Current Cap Rate 7.40%

Current Net Operating Income $1,414,036

10 Year Unleveraged IRR: 7.18%

10 Year Leveraged IRR: 11.17%

Vital Data

Demographics1-MILE 3-MILES 5-MILES

2010 Population 8,366 116,853 221,402

2015 Population 8,963 121,943 234,849

2019 Population 9,062 126,174 242,176

2014 Median HH Income $57,226 $49,372 $54,770

2014 Per Capita Income $25,024 $22,570 $25,330

2014 Average HH Income $71,182 $68,771 $78,384

New Acquisition Financing

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EXECUTIVE SUMMARYred rock centerred rock centerEXECUTIVE SUMMARY

Marcus & Millichap is pleased to present this rare opportunity to purchase Red Rock Center, a fee-simple 74,008-square foot community shopping center located in San Diego County’s city of San Marcos . The offering features a unique mix of eleven retailers . This strategic location boasts more than 700 feet of frontage along California State Route 78 which runs east to west and serves as the main artery connecting the cities of Oceanside, Vista, San Marcos and Escondido .

The center and its two 25-foot tall monument signs are easily visible from east- and westbound traffic (150,000 vehicles per day) on California Route 78 and one off-ramp away from the 15 freeway heading north and south . Access to the property is convenient using the recently expanded four-lane Nordahl Road bridge (30,000 vehicles per day) . The center enjoys synergy with immediate national retailers including: Costco, Walmart, Kohl’s, McDonald’s, Taco Bell, KFC, Pizza Hut, Smash Burger and Starbucks just to name a few .

The subject property features an oversized parcel of land (6 .31 Acres) and has 385 parking spaces . The center is comprised of three separate buildings divided into twelve suites ranging in size from 2,260 square feet to 24,656 square feet . The center was recently re-roofed with a 20-year guarantee, and the property has minimal deferred maintenance . Currently 92% occupied, Red Rock Center has enjoyed historically high occupancy .

San Marcos, located in the beautiful foothills of northern San Diego County is a community of more than 92,929 residents who enjoy a fantastic quality of life . Visitors and long-time residents alike enjoy its miles of trails in the local hills, unique dining and shopping opportunities in its retail centers, and its central location to both San Diego County’s and Orange County’s most famous attractions . Just a 35-mile drive south takes you to the heart of bustling downtown San Diego, while a short jaunt west takes you to the majestic shores of the beautiful Pacific Ocean .

Community developments like the Creekside Marketplace, Nordahl Center and Grand Plaza have all become popular shopping and dining destinations . Future development plans including the San Marcos Downtown Creek District, Palomar Station, and University Village will quickly put San Marcos on the map as a regional shopping, dining and entertainment destination .

■■ Fee Simple Community Shopping Center in North San Diego County

■■ Irreplaceable Location - Within Miles from Iconic Destinations such as CalState San Marcos, Kaiser Permanente, Palomar Pomerado Medical Center,Nordahl Sprinter Station, Nordahl Marketplace & Palomar Airport

■■ High Visibility and Accessibility - Over 700 feet of Freeway-Visible Frontageon California State Route 78 with two Highly Noticeable and Recognizable25-foot Monument Signs . Recently Expanded Nordahl-Road Bridge and accessramps make this Retail Corridor Accessible from east- and westbound Vehiclesin Excess of 149,000 per day

■■ Dominant Retail Corridor - Numerous National Retailers Including: Costco,Walmart, Kohl’s, Guitar Center, McDonald’s, Plus Numerous Regional andLocal Retailers

■■ Strong Demographics - 225,000 Residents with an Average Household Incomeof $72,000 and 9,500 Daytime Employees within a 5-Mile Radius

■■ Huge Growth Market - Planned Development Projects in the area includeThe Coronado Ranch, Alta Apartments, Prominence Apartments, Buenavida,Esperanza and University Village (Over 5,226 new homes)

Investment Overview Investment Highlights

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EXECUTIVE SUMMARYred rock centerred rock centerEXECUTIVE SUMMARY

Summary of Terms

Interest Offered

Fee simple interest in Red Rock Center, a 74,008-square foot shopping center located at 2055-2085 Montiel Road, San Marcos, CA 92069.

Terms of the SaleRed Rock Center is offered at $19,100,000 based on a capitalization rate of 7 .40% . The net operating income for the Property is based on the annualization of base rents from January 1, 2017 .

Historic operating documentation, third party reports and Argus model can be found in the on-line document data portal .

Property ToursProspective purchasers are encouraged to visit the subject property prior to submitting offers . However, all property tours must be arranged with the Marcus & Millichap listing agents . Please do not contact the tenants, or property management, without prior approval .

Proposed Financing

FINANCING

Proposed or Existing Proposed

Loan Amount $12,415,000

Loan-to-Purchase Price Ratio 65.00%

Interest Rate 4.50%

Term 10 Years

Amortization Period 30 Years

Annual Debt Service (P&I) $754,860

Maturity Dec - 26

Outstanding Loan Balance at Maturity $9,943,103

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PROPERTY DESCRIPTION red rock center



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Property Details

ADDRESS 2055 Montiel Road, San Marcos, CA 92069

LOCATIONThe Offering is Located alongside

Highway 78 and is just west of Interstate 15

LAND AREA The Parcel Includes 6.31 Acres

RENTABLESQUARE FEET

The Offering Consists of Approximately 74,008Rentable Square Feet

PARKING 385 Surface Parking Spaces in excess of (5.20:1000)

TRAFFIC COUNTS159,000 Vehicles Per Day on Highway 78

and 30,099 Vehicles Per Day on Nordahl Road

YEAR BUILT 1990

SUBJECT PROPERTY

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Lancaster

PalmdaleVictorville

Apple ValleyLake

Havasu City

Kelso

Chambless Desert Hills

Parker Strip

Parker

BlytheQuartzsite

Ehrenberg

Palo Verde

GlamisBrawley

Imperial

El CentroCalexico

La RumorosaTecate

Maneadero

Guadaloupe

Cuidad Morelos

San Luis RioColorado

EstacionCoahuila

El Golfo deSanta Clara

Reserca dela Biosfera

El Pinacate yGran

Anza-BorregoDesert State Park

Sheephole Valley

Wilderness

Joshua Tree National Park

Mojave National Preserve

AngelesNational Forest

Needles

Fort Mohave

Hesperia

San Bernardino

Riverside

Palm SpringsPalm Desert

La Quinta

Barstow

Indio

Temecula

Mexicali

Vista

Carlsbad

Ventura

Oxnard

Long Beach

Catalina IslandEssential

Fish Habitat

Anaheim

Irvine

San Diego

Los Angeles

Tijuana

Ensenada

Laguna Salada

Salton Sea

395

210

405

605

15

15

15

10

10

10

10

88

8

10

5

5

4040

40

2D 2

2

5

3

1

Lancaster

PalmdaleVictorville

Apple ValleyLake

Havasu City

Kelso

Chambless Desert Hills

Parker Strip

Parker

BlytheQuartzsite

Ehrenberg

Palo Verde

GlamisBrawley

Imperial

El CentroCalexico

La RumorosaTecate

Maneadero

Guadaloupe

Cuidad Morelos

San Luis RioColorado

EstacionCoahuila

El Golfo deSanta Clara

Reserca dela Biosfera

El Pinacate yGran


Sheephole Valley

Wilderness

Joshua Tree National Park

Mojave National Preserve

AngelesNational Forest

Needles

Fort Mohave

Hesperia

San Bernardino

Riverside

Palm SpringsPalm Desert

La Quinta

Barstow

Indio

Temecula

Mexicali

Vista

Carlsbad

Ventura

Oxnard

Long Beach

Catalina IslandEssential

Fish Habitat

Anaheim

Irvine

San Diego

Los Angeles

Tijuana

Ensenada

Laguna Salada

Salton Sea

395

210

405

605

15

15

15

10

10

10

10

88

8

10

5

5

4040

40

2D 2

2

5

3

1

Location Map (Southern California)

SUBJECT PROPERTY

201

371

125

805

805

79

79

76

94

78

78

52

2

2D

3

155

5

8

8

15

Temecula

San Clemente

Oceanside Vista

Carlsbad

Escondido

San Diego

Tijuana

Pala

Ramona

Julian

Santa Ysabel

Aguanga

Anza

Warner Springs Borrego

Springs

El CajonLa Mesa

Chula Vista

Rosarito Palm Valley

Tecate

Campo

Boulevard

Pine Valley

Mt Laguna


PalomarMountain

Alpine

Agua Hechicera

Colonia LuisEcheverria

Dana Point

SUBJECT PROPERTY

PROPERTY DESCRIPTION

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red rock center



Local Map (San Diego County)

Major Freeways:

Interstate 5

Interstate 805

Interstate 8

Interstate 15

201

371

125

805

805

79

79

76

94

78

78

52

2

2D

3

155

5

8

8

15

Temecula

San Clemente

Oceanside Vista

Carlsbad

Escondido

San Diego

Tijuana

Pala

Ramona

Julian

Santa Ysabel

Aguanga

Anza

Warner Springs Borrego

Springs

El CajonLa Mesa

Chula Vista

Rosarito Palm Valley

Tecate

Campo

Boulevard

Pine Valley

Mt Laguna


PalomarMountain

Alpine

Agua Hechicera

Colonia LuisEcheverria

Dana Point

7878

78

5

15

Ronald Packard Pkwy

Avocado Hw

y

Interstate 15 Express

W San Marcos Blvd

Lake San Marcos

San Elijo Rd

Rancho San

ta F

e Rd

S M

elro

se D

r

El Camino Rd

S Santa Fe Ave

College Blvd

W V

alle

y Pk

wy

Via Rancho Pkw y

Vista

Escondido

San Marcos

Del Dios

El�n Forest Recreational

Reserve

Neighborhood Map

SUBJECT PROPERTY

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Local Map (San Diego County)


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Site Plan

Suite Tenant Name Sq. Ft. Suite Tenant Name Sq. Ft.

102100 Fan Diego

Available

Veterinary Specialty Hospital

Dance FX

Bicycle WarehouseSOLA Salon

2,2605,756

10,581

4,820

2,4104,898

24,6565,479

2,578

2,575

5,4202,575

UEI CollegeTurner’s Outdoorsman

Hobby Town

San Diego Grill Pros

SOKA GokkaiSport & Spine Physical Therapy

104

105/6

107108/9

101104

101/2103

105

106

2055 Montiel Rd 2085 Montiel Rd

2115 Montiel Rd

100106 105 104 101

103 101/2 not a part not a part

not a part

102104

105/6

107

108/9

For over 25 years, UEI College and UEI has served as a great choice for career preparation and training, and their tradition for excellence in education continues to grow. “UEI College is committed to preparing students for rewarding careers in the healthcare, business, technology, automotive and criminal justice fields.” They dedicate their reputation for success to a single standard: the success of their students.

Lease Expiration: 3/31/20

Gross Leasable Area: 24,656

Option to Renew: 2-5 year

Pro Rata Share of Project: 33.32%

Headquartered: Sacramento, CA

No. of Locations 15

Website: www.UEI.edu

Turner’s Outdoorsman, Southern California’s leading hunting, shooting, and fishing specialty stores, began in 1971 as a single store in Long Beach. Throughout the years, they have grown to 18 stores, located throughout Southern California. They have been in Southern California for over 45 years and take pride in being the neighborhoodstore, completely dedicated to their customer.



Option Term: None

Pro Rata Share of Project: 7.40

Headquartered: Rancho Cucamonga, CA

No. of Locations 18

Website: www.Turners.com

The HobbyTown USA® story began in Lincoln, Ne-braska (where the national headquarters remains today). Today, with over 150 franchise stores open and under development, HobbyTown USA® is the world’s largest retail hobby & specialty toy store chain. As a nationally registered franchise, the company is widely regarded as the leader in the retail hobby and specialty toy industries. They are ranked annually in the Entrepreneur 500 and Success Magazine has listed HobbyTown USA® as one of their top 100 franchises.



Option to Renew: None


Headquartered: Lincoln, NE

No. of Locations 150

Website: www.hobbytown.com


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Tenant and Lease Summaries

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San Diego Grill Pros is a BBQ and outdoor specialty store offering top-of-the line built-in barbecue grills, customized outdoor kitchens, patio heaters, charcoal smokers and the best BBQ sauces and rubs.

They carry the best American made grills including Lynx, Fire Magic, and Alfresco.

“Fan Diego is Southern California’s largest and best ceiling fan source! We offer the most extensive se-lection of ceiling fans that you will find displayed, in stock, and available for special order anywhere. From the ultra comtemporary, to the classics of tra-ditional styling, Fan Diego offers all major brands under one roof to save our valued customers both time and money. Fan Diego offers wholesale prices direct to the public and to the various construction and design trades.”



Option to Renew: 1-5 Year


Headquartered: San Marcos, CA

No. of Locations 1

Website: www.SDGrillPros.comLease Expiration: 10/1/19


Option to Renew: None



No. of Locations 4

Website: www.FanDiego.com

“Dance FX offers the finest in dance instruction for all levels and ages. From Ballet, Tap, and Jazz, to Lyrical, Acro, and Hip-Hop. Our highly experienced instructors are here to instill in every dancer, strong core values such as discipline, confidence, self-expression and respect for self and others, while maintaining a fun, supportive, and family oriented atmosphere.”






No. of Locations 1

Website: www.dancefxstudio.com


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Veterinary Specialty Hospital is the leader in special-ty and emergency care in San Diego County. Open 365 days a year, 24 hours a day, they offer state-of-the-art technology and exceptional patient care.





Headquartered: Denver, CO

No. of Locations 100+

Website: www.SolaSalons.com

Sola Salon Studios® is an innovative salon model in which experienced hairdressers, estheticians, nail stylists, massage therapists and other like-minded salon professionals come together under one roof to take their careers to the next level. They have pro-vided more than 3,000 professionals with premium, individual salon spaces in which they own and oper-ate high-quality salons.






No. of Locations 2

Website: www.VSHSD.com

Spine and Sport is a private physical therapy com-pany managed by parent company Measurement Driven Rehabilitation Systems. “The founders envi-sioned a network of clinics dedicated to personal-ized, measurable, active based, patientcentered care for orthopaedic, sports and work-related injuries. The company recruited well-trained licensed therapistswho shared this vision and whose experience and knowledge would result in exceptional treatment outcomes. This combination proved effective, and the company quickly grew to include 14 clinics of-fering comprehensive programs, including hand and upper-extremity, aquatic therapy and functional ca-pacity evaluations.”

Lease Expiration: 1/319



No. of Locations 14

Website: http://www.spineandsport.com/

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Soka Gakkai International (SGI) is a lay Buddhist movement linking more than 12 million people around the world. SGI members integrate their Buddhist practice into their daily lives, following the Lotus Sutra based teachings of Nichiren, a 13th-century Japanese Buddhist priest. There are SGI members living in 192 countries and territories while there are 90 locally registered constituent SGI organizations.



Option to Renew: 1- 5 Year


Headquartered: Tokyo, Japan

No. of Locations 51

Website: www.SGI.org

“Bicycle Warehouse opened it’s doors for the first time on July 4th, 1992. Back then we were called Mountain Bike Warehouse because that’s all we sold. As they grew, so did our selection of bikes in all areas, thus they became Bicycle Warehouse. In the past 20-some years, our first store has become a familiar sight in San Diego. We’ve grown to six stores and an e-commerce department, but our passions are the same as they were back at our first store. We started this business for “the love of the ride.”



Option to Renew: 1- 5 Year


Headquartered: San Diego, CA

No. of Locations 6

Website: www.bicycleware-house.com


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

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MARKET OVERVIEW

19This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap


red rock center

Demographic Summary (Data pulled from Subject Property)

INCOME 1-MILE 3-MILES 5-MILES

$ 0 - $14,999 8.1% 11.3% 10.1%

$ 15,000 - $24,999 9.6% 12.3% 10.9%

$ 25,000 - $34,999 11.0% 12.3% 11.1%

$ 35,000 - $49,999 14.9% 14.7% 13.8%

$ 50,000 - $74,999 24.3% 18.6% 17.8%

$ 75,000 - $99,999 11.8% 11.6% 12.3%

$100,000 - $124,999 10.0% 7.9% 8.7%

$125,000 - $149,999 3.8% 4.3% 5.4%

$150,000 - $199,999 3.7% 4.0% 5.4%

$200,000 - $249,999 1.2% 1.3% 1.8%

$250,000 + 1.6% 1.8% 2.6%

2014 Median Household Income $57,226 $49,372 $54,770

2014 Per Capita Income $25,024 $22,570 $25,330

2014 Average Household Income $71,182 $68,771 $78,384

POPULATION 1-MILE 3-MILES 5-MILES

2000 Population 7,031 102,645 190,081

2010 Population 8,366 116,853 221,402

2015 Population 8,963 121,943 234,849

2019 Population 9,062 126,174 242,176

HOUSEHOLDS 1-MILE 3-MILES 5-MILES

2000 Households 2,345 33,892 62,413

2010 Households 2,856 37,526 70,464

2014 Households 2,995 39,446 73,980

2019 Households 3,211 41,072 77,824

2014 Average Household Size 2.85 3.01 3.06

2014 Daytime Population 7,774 47,576 76,510

2000 Owner Occupied Housing Units 59.83% 50.78% 55.81%

2000 Renter Occupied Housing Units 37.56% 46.38% 41.05%

2000 Vacant 2.60% 2.84% 3.13%



2014 Vacant 1.08% 2.03% 1.69%



2019 Vacant 1.18% 2.11% 1.67%

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MARKET OVERVIEW



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red rock center

Demographic data © 2010 by Experian/Applied Geographic Solutions.

San Marcos San Marcos is a city in the North County section of San Diego County, California. Outside the San Diego region, it is best known as the home of California State University, San Marcos.

Location The city is bordered by Escondido to the east, Encinitas to the southwest, Carlsbad to the west, and Vista to the northwest.

Population San Marcos is a progressive community of more than 89,000 residents who enjoy a fantastic quality of life.

Shopping & Commerce A dedication to parks and community services is another priority for the City of San Marcos. In addition to its rich recreational and cultural programs for children, teens, adults and seniors, the City has constructed 60 miles of trails, 29 new parks and 11 recreation centers over the past 25 years. Quality centers like Creekside Marketplace, Nordahl Center, Grand Plaza and Old California Restaurant Row have all become popular shopping and dining destinations, and plans for thoughtful future developments like the San Marcos Downtown Creek District, Palomar Station and University Village will quickly put San Marcos on the map as a regional shopping, dining and entertainment destination. Community theatre, music and fine arts organizations are also alive and well in San Marcos.

CultureThe mission of the City of San Marcos is to improve the quality of life of those who live, work or visit San Marcos by providing a safe family atmosphere that is rich and diverse in cultural and natural resources and promotes econom-ic and educational opportunities.

EducationThe City of San Marcos is proud to be the educational hub of San Diego North. Home to Cal State San Marcos, Palomar College, University of St. Augustine and more, San Marcos is developing the leaders of tomorrow with quality education today.

SAN MARCOS

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MARKET OVERVIEW



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red rock center

Westbound State Route 78 Widening and Nordahl Road Bridge Improvement Details Improvement Projects Near I-15 Interchange

The California Department of Transportation (Caltrans), working collaboratively

with the San Diego Association of Governments (SANDAG) and the cities of

Escondido and San Marcos, recently improved westbound State Route 78 (SR-

78) at Interstate 15 (I-15) and the Nordahl Road bridge to address severe traffic

congestion during the morning and afternoon commuting hours.

Improvements Constructed � Connector on-ramp from I-15 Westbound to SR 78 was widened

� And a fifth westbound lane on SR-78 between the end of the I-15 connector

� ramp and Nordahl Road was added.

� A lane on the westbound SR-78 off-ramp to Nordahl Road was added

Nordahl Road Bridge Replacement � A lane was added to the bridge to provide additional vehicle capacity for

turn pockets to the SR-78 on-ramps

� Increased height clearance under the bridge which now

� accommodates future SR-78 widening and HOV lanes.

San Marcos, CA

NORDAHL ROAD BRIDGE REPLACEMENT:A lane was added to provide additional ve-hicle capacity to SR-78 on-ramps, improve bridge height clearance and accommodate future SR-78 widening and HOV lanes

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22This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap


red rock center

New Palomar Medical Center, America’s Newest and Most Modern Hospital, Opens in San Diego County

Palomar Health, California’s largest public health district,

made history on Sunday, August 19, 2013 when it opened

the new 288-bed Palomar Medical Center in northern San

Diego County. It is the health system’s third hospital and one

of the most technologically-advanced health care facilities

in the nation. For years, the $956-million facility was the

largest hospital construction project in the United States.

The new Emergency Department and Trauma Center also

began receiving patients, which helped raise the number of

patients at the new hospital. At least 50 people had visited

the Emergency Department by 5:30 p.m., including the first

patient who arrived under her own power at 7 a.m. on open-

ing day.

Palomar Health had been prepared to transfer as many as 130 patients but was able to reduce the count by curtailing elective surgeries in the days leading

to the move. Patients who were ready to be discharged at the downtown hospital were not moved to the new hospital. The new Palomar Medical Center

opened as a licensed 288-bed acute care hospital, providing inpatient care, surgical and interventional services, and emergency and trauma services. It will

eventually be built out to a maximum of 650 beds. The opening of the new Palomar Medical Center marks a new era in health care in the region and the suc-

cessful delivery of a promise to the communities that the district serves in northern San Diego County. In 2004, voters overwhelmingly passed Proposition

BB, the $496-million bond that helped fund construction of the $956-million hospital. About 1,700 health-care providers and supporting staff will work at

the new 740,000-square-foot hospital, most of them transfers from the original Palomar Medical Center at 555 East Valley Parkway, which opened in 1950.

That hospital will remain open under the new name Palomar Health Downtown Campus, specializing in women’s, children’s, behavioral health, rehabilitation

and urgent care services. About 750 employees will initially staff the Palomar Health Downtown Campus.

San Marcos, CA - Recent Growth - $956 Million Dollar Hospital Opens

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23

red rock center

University District

The University District is a 194-acre planned de-

velopment near Cal State San Marcos, located

on both sides of Twin Oaks Valley Road between

SR-78 and East Barham Drive from Industrial

Street to the east and the proposed extension of

Discovery Street to Craven Road/Bent Avenue to

the west. The development will be mixed uses

of residential, student- and faculty-serving re-

tail, and dining establishments.

San Marcos, CA - Planned Growth

CONFIDENTIALITY AND 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.

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.

Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) 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 M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

NON-ENDORSEMENT NOTICE

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

exclusively listedMark ThielVice President Investments4660 LA JOLLA VILLAGE DR, STE 900, SAN DIEGO, CA 92122Tel: (858) [email protected] CA License: 01469342

Adam AttiaAssociate 4660 LA JOLLA VILLAGE DR,STE 900, SAN DIEGO, CA 92122Tel: (858) [email protected] CA License: 01520832

Exclusively listed by: Investment Sales:

OFFICES THROUGHOUT THE U.S. & CANADAwww.marcusmillichap.com

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