Jeff Morgenstern Senior Managing Director925.467.0905 | [email protected] RE License# 01275910
Dan Watson Managing Director925.467.0903 | [email protected] RE License# 01438710
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Owner/User or Investor or Redevelopment PropertyOFFERING MEMORANDUM
2481 Deerwood Drive
2481 Deerwood DriveSan Ramon, CAPrice: $7,600,000 (±$150 PSF) Size: ±50,835 SF
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2 Jeff MorgensternDan Watson
Newmark Cornish and Carey is pleased to exclusively offer the opportunity to purchase 2481 Deerwood Drive, San Ramon, California (the “Property”), consisting of an approximate ±50,835 gross square foot, two story office building. The Property benefits from outstanding views and close proximity to numerous retail amenities and access to Interstate 680 freeway.
The Property, currently a disaster recovery center, offers a larger owner user the rare opportunity to buy a building of this size in the Tri-Valley marketplace. The Property has been owner occupied for many years, and can remain as a single tenant office building, demised and multi-tenanted to provide flexibility and income, or potentially redeveloped. Currently, residential multi-family is located on two sides of the Property, and office developments are located immediately down the street. Parking at the project is approximately 1.81/1,000 gross square feet.
Current zoning is OA (Administrative Office), but is surrounded by residential properties zoned RM (Medium Density Residential) and RMH (Medium-High Density Residential) allowing for 6 to potentially as high as 22 units per acre. Further information regarding zoning including residential, medical or other mixed uses can be found at www.ci.san-ramon.ca.us/zoning/zo.html.
DO NOT DISTURB TENANTTo discuss the offering or arrange a tour, contact exclusive agents.
Jeff Morgenstern Senior Managing Director 925.467.0905 [email protected]
Dan Watson Managing Director 925.467.0903 [email protected] OFFERING TERMS:
Price: $7,600,000 (±$150 per gross square foot)
Size: ±50,835 square feet
Parcel: ±4.43 acres
THE OFFERING
2481 Deerwood Drive
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Sungard AS currently operates a Disaster Recovery Center in the building. The building has heavy power and significant disaster recovery center infrastructure and equipment in place including a Halon Fire Suppression System, Diesel Generator, raised flooring and additional HVAC cooling systems.
OWNER/USER OPPORTUNITYThe building is currently occupied by a single tenant. Further, a buyer has the capability to easily multi-tenant the building and occupy a portion. Attractive financing options including both conventional and SBA loans are available.
RARE SIZE VACANCYThe building is one of only eight buildings in San Ramon between 20,000 and 100,000 RSF that could accommodate a full building user.
STRONG MARKET FUNDAMENTALS
Vacancy for office space in the city of San Ramon is 12.8%, which is the lowest it has been since 2000. Vacancy outside of Bishop Ranch is even lower, with a rate of 6.78%. Rents continue to rise and owners are pushing back in negotiations on all leasing concessions, making now a good time to eliminate future market risk through ownership.
CHANCE FOR REDEVELOPMENTThe Building is surrounded by medium-high and high density housing, making the site a potential candidate for future residential redevelopment.
OFFERING HIGHLIGHTS
2481 Deerwood Drive
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4 Jeff MorgensternDan Watson
Address: 2481 Deerwood Drive, San Ramon, CA
APN: 208-640-003-9
Size: ±50,835 square feet
Acres: ±4.43 gross acres
Built: 1986/1987
Floors: Two story
Parking: ±1.81/1000 (92 stalls)
Zoning: OA (Administrative Office)
Other: - Heavy power to the Building - Diesel Generator on site - Halon Fire Suppression System - Significant Disaster Recovery Infrastructure in place - Dock door
PROPERTY OVERVIEW
2481 Deerwood Drive
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5 Jeff MorgensternDan Watson
SITE PLAN
2481 Deerwood Drive
2481 DEERWOOD DRIVE2481 DEERWOOD DRIVE
CROW CANYON ROADCROW CANYON ROAD
DEERWOOD DRIVEDEERWOOD DRIVE
BOLLINGER CANYON ROAD
BOLLINGER CANYON ROAD
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FIRST FLOOR
PLANS ARE APPROXIMATE AND NOT TO SCALE
2481 Deerwood Drive
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7 Jeff MorgensternDan Watson
SECOND FLOOR
PLANS ARE APPROXIMATE AND NOT TO SCALE
2481 Deerwood Drive
Jeff MorgensternDan Watson
DEERWOOD DRIVEDEERWOOD DRIVE
DEER
WOOD
ROA
D
DEER
WOOD
ROA
D
FOSTORIA WAYFOSTORIA WAY
CROW CANYON ROAD
CROW CANYON ROAD
BOLLINGER CANYON ROAD
BOLLINGER CANYON ROAD
PORTER DRIVEPORTER DRIVE
SAN RAMON VALLEY BOULEVARD
SAN RAMON VALLEY BOULEVARD
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SITE AERIAL
SITE
2481 Deerwood Drive
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9 Jeff MorgensternDan Watson
2481 Deerwood Drive
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.16Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
Jeff Morgenstern Senior Managing Director 925.467.0905 [email protected] CA RE License# 01275910
Dan Watson Managing Director 925.467.0903 [email protected] CA RE License# 01438710
SITE
2481 Deerwood Drive