1806-1836€¦ · and roofing. property condition ... san leandro berkeley richmond san rafael...

1TOTAL NET RENTABLE AREA: ±16,250 SF PLUS SURFACED PARKING PURCHASE PRICE: $3,000,000PERCENT LEASED: 100%

5.1%

7.4%

IN-PLACE CAP RATE

PROJECTED CAP RATE

BRIAN T. SLOCUMVice President, CCIMLic. 01471483T +1 925 296 7756C +1 925 984 [email protected]/brian.slocum

1806-1836ARNOLD INDUSTRIAL PLACE

CONCORD, CA

1806-1836 ARNOLD INDUSTRIAL PLACE2

EXECUTIVE SUMMARY

THE OFFERING

CBRE is pleased to present the 1806-1836 Arnold Industrial Place, as a new Freeway Visible multi-tenant Industrial Leased Investment, or Owner-User opportunity in Concord California.

With six (6) separate tenants (Seven (7) Suites) and currently 100% leased, the property offering is an excellent opportunity to own and Industrial building in the North Concord submarket. The investment is being offered at a 7.4% capitalization rate based on the asking price, and projected Rent, or roughly $184 PSF based on building area of 16,250 square feet. The site totals ±0.98 acres which provides for added surface parking and storage potential.


EXECUTIVE SUMMARY

LOCATION

• 1806-1836 Arnold Industrial Place in Concord is located off the prominent Solano Way exit in Concord, also near the Port Chicago Highway exit, on the south side of the freeway close to the Lowe’s shopping complex, Kinder’s BBQ, as well as numerous other Industrial/Flex business uses.

• Freeway Visible from Highway 4 which is across the street, the property provides high exposure to traffic in the region, thus enhancing the profile of any business located in the building/property.

OCCUPANCY

• The property consists of one (1) building and is 100% leased, and has rear outdoor parking/storage for added income and functionality.

• Tenant uses include custom cabinets, vehicle specialists, and roofing.

PROPERTY CONDITION

• Well maintained building project with functional exterior. Asphalt areas in good condition for vehicle parking and storage.

• Freeway visible exposure

PARKING

• Extensive parking consisting of 38-40 stalls on the east side of the property.


•ADDRESS: 1806-1836 Arnold Industrial Place, Concord CA 94520

•APN: 110-120-041-6

•BUILDING SIZE: One (1) building (built in 2 phases) totaling ±16,250 SF

•PROPERTY SIZE: ±0.98 Acres

•SUITES: Seven, plus bonus rear parking/yard

• YEAR BUILT: 1979

•OCCUPANCY: 100%, plus additional income for parking/yard

•PARKING: 38-40 stalls

• CONSTRUCTION: Metal building exterior

•ZONING: IMX (Industrial Mixed Use), to be verified with the City of Concord

PROPERTY OVERVIEW

LOCAL AREA MAP

1806-1836ARNOLD INDUSTRIAL PL ACE

CONCORD

PACHECO

NORTH CONCORD

BAY POINT

MARTINEZ

BENICIA

PITTSBURG

CONCORD NAVAL WEAPONS STATION -

FUTURE DEVELOPMENT


PROPERTY OVERVIEW

1806-1836ARNOLD INDUSTRIAL PL ACE

BAY AREA REGIONAL MAP

CONCORD

WALNUT CREEK

OAKLAND

SAN FRANCISCO

DALY CITY

SAN LEANDRO

BERKELEY

RICHMOND

SAN RAFAEL

PETALUMA

ANTIOCH

FAIRFIELD

RIO VISTA

BRENTWOOD

TRACY

LIVERMORE


PROPERTY OVERVIEW

SITE OVERVIEW

YARD PARKING

SUIT

E 7

SUIT

E 6

SUIT

E 5

SUIT

E 4

SUIT

E 3

SUIT

E 2

SUIT

E 1

SUITES1-62,500 SF each

SUITE 7 1,250 SFYard: ±8,000 SF.


PROPERTY OVERVIEW

PARCEL MAP


AREA OVERVIEW

THE SAN FRANCISCO BAY AREA

The San Francisco Bay Area, located in Northern California, is home to more than 7 million people. The area consists of nine counties, all of which touch the San Francisco Bay, 101 cities, and comprises 7,000 square miles. The Bay Area has a land area of 4.4 million acres (excluding bay waters and large lakes), and in 2010, approximately 17.8 percent of the region’s total acreage was developed for urban use. While San Francisco is the most urbanized county with 80 percent of its land area developed, Napa is the most rural county with approximately 5 percent of its land area developed. Like many large urban centers, the Bay Area will continue to grow in the foreseeable future.

With some 44% of its adult residents obtaining at least a bachelor’s degree, compared to 28% nationwide, the Bay Area has a much higher concentration of knowledge-based occupations – especially professional and executive positions – than the nation as a whole, and its percentage of computer, math, and engineering jobs is twice the national average. Core skills include building and managing global businesses, innovating in products, services and business models, and creating new industries. Furthermore, compared to the US economy, the Bay Area is becoming more concentrated in knowledge-intensive industries. For instance, the share of local employment in computer and electronic product manufacturing increasingly exceeds the US average, while the share in traditional manufacturing is falling behind. Employment share in professional and business services and in information technology is also much larger in the Bay Area than in the US as a whole.

With big name companies such Google, Facebook, Sales Force, Twitter, and Apple headquartered throughout the region, the Bay Area has become the largest business center on the West Coast. The Bay Area has twenty-nine companies in the U.S. Fortune 500, twenty-eight of the firms in the Fortune Global 500, and has three of the top ten global companies ranked by market capitalization. The region is also home to many of the nation’s fastest-growing private companies, and thirty companies on Inc. magazine’s “Inc. 500: America’s fastest-growing private companies” list are based in the Bay Area.


CONTRA COSTA COUNTY

One of the original 27 counties established in California in 1850, Contra Costa County is comprised of 19 cities and is home to more than one million residents, making it the ninth most populous county in the state. Stretching approximately 40 miles from west to east and approximately 20 miles from north to south, Contra Costa County covers 805 square miles and is adjacent to Alameda, San Joaquin, Sacramento, and Solano counties. Contra Costa County contains three distinct areas: West County, Central County, and East County, which is composed of the Pittsburg-Antioch area, as well as Brentwood and Oakley.

AREA OVERVIEW

DOWNTOWN CONCORD


FINANCIAL OVERVIEW

• Asking Price: $3,000,000

• Price PSF: $184

• Projected NOI: $264,150.00 (assumed rent at $1.25 PSF/mo IG), plus Yard/Parking rent (assumed rent at $0.21 PSF/mo IG)

• Cap Rate at Projected NOI: 7.4%

• Cap Rate at In-place NOI: 5.1%

Additional Actual Rent and Expense Information will be provided upon requestFINANCIAL MODEL

IN-PLACE PROJECTEDGROSS INCOME $195,450.00 $264,150.00 LESS ANNUAL EXPENSES:PROPERTY TAX: $36,000.00 $36,000.00 PROPERTY INSURANCE: $3,500.00 $3,500.00COMMON AREA MAINTENANCE (CAM):

Water $1,020.00 $1,020.00 Other - Misc. $1,430.00 $1,430.00

TOTAL NNN EXPENSES: $41,950.00 $41,950.00

TOTAL NET OPERATING INCOME (NOI) $153,500.00 $222,200.00CAP RATE 5.1% 7.4%

INCOME DETAILS/PRICING

*Financial Models based on landord provided data, and is true and correct to the best of Broker's knowledge*Buyer and prospective Buyers are encouraged to investigate all underlying information for Buyer's confirmation and accuracy.*Rent Roll Data and Leases can be provided upon execution of an NDA by Prospective Buyer


AFFILIATED BUSINESS DISCLOSURE

CBRE, Inc. operates within a global family of com-panieswithmany subsidiaries and related entities(each an “Affiliate”) engaging in a broad range ofcommercial real estate businesses including, but not limitedto,brokerageservices,propertyandfacilitiesmanagement, valuation, investment fundmanage-mentanddevelopment.AttimesdifferentAffiliates,including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction.Forexample,Affiliatesortheirclientsmayhaveorexpress an interest in the property described in this Memorandum(the“Property”),andmaybethesuc-cessful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgementof that possibility and your agreement that neither CBRE,Inc.noranyAffiliatehasanobligationtodis-closetoyousuchAffiliates’interestorinvolvementin the sale or purchase of the Property. In all instanc-es,however,CBRE,Inc.anditsAffiliateswillactinthebestinterestoftheirrespectiveclient(s),atarms’length, not in concert, or in a manner detrimental to anythirdparty.CBRE,Inc.anditsAffiliateswillcon-duct their respectivebusinesses in amanner con-sistentwiththelawandallfiduciarydutiesowedtotheirrespectiveclient(s).

CONFIDENTIALITY AGREEMENT

YourreceiptofthisMemorandumconstitutesyouracknowledgementthat(i)itisaconfidentialMemo-randumsolelyforyourlimiteduseandbenefitinde-termining whether you desire to express further in-

terestintheacquisitionoftheProperty,(ii)youwillhold it in thestrictestconfidence, (iii)youwillnotdisclose it or its contents to any third party without thepriorwrittenauthorizationoftheowneroftheProperty (“Owner”)orCBRE, Inc., and (iv)youwillnot use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing thisMemorandum,you have nofurther interest in purchasing the Property, kindly return it to CBRE, Inc.

DISCLAIMER

This Memorandum contains select informationpertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the informationwhich prospective in-vestors may require to evaluate a purchase of the Property.TheinformationcontainedinthisMem-orandum has been obtained from sources believed tobereliable,buthasnotbeenverifiedforaccura-cy,completeness,orfitnessforanyparticularpur-pose.All information is presented “as is”withoutrepresentationorwarrantyofanykind.Suchinfor-mationincludesestimatesbasedonforward-look-ingassumptions relating to thegeneraleconomy,market conditions, competition andother factorswhich are subject to uncertainty and may not rep-resent the current or future performance of the Property. All references to acreages, square foot-ages,andothermeasurementsareapproximations.This Memorandum describes certain documents, including leases and other materials, in summary

form. These summaries may not be complete nor accuratedescriptionsofthefullagreementsrefer-enced.Additional informationandanopportunityto inspect the Property may be made available to qualifiedprospectivepurchasers.Youare advisedto independently verify the accuracy and com-pleteness of all summaries and information con-tained herein, to consult with independent legal and financial advisors, and carefully investigatethe economics of this transaction and Property’ssuitability 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,torejectanyorallexpressionsofinter-est or offers to purchase theProperty, and/or toterminatediscussionsatanytimewithorwithoutnoticetoyou.Alloffers,counteroffers,andnegoti-ationsshallbenon-bindingandneitherCBRE,Inc.nor the Owner shall have any legal commitment or obligationexceptas set forth ina fullyexecuted,definitive purchase and sale agreement deliveredby the Owner.

CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related compa-nies in the United States and other countries. All other marks displayed on this document are the propertyoftheirrespectiveOwners.Photoshere-inarethepropertyoftheirrespectiveownersanduse of these imageswithout the expresswrittenconsent of the owner is prohibited.

© 2019 CBRE, Inc. All Rights Reserved.

© 2019 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

1806-1836ARNOLD INDUSTRIAL PLACE

CONCORD, CA

5.1%

7.4%

IN-PLACE CAP RATE

PROJECTED CAP RATE

BRIAN T. SLOCUMVice President, CCIMLic. 01471483T +1 925 296 7756C +1 925 984 [email protected]/brian.slocum

1806-1836€¦ · and roofing. property condition ... san leandro berkeley richmond san rafael...

Documents