james j. hill center
TRANSCRIPT
JAMES J. HILL CENTER80 West Fourth St, Saint Paul MN 55102
p h oto c re d i t : V i s i tS tPa u l .co m 2
contents
3678101113
Affiliated Business Disclosure & Disclaimer
Property Highlights
Property Information
Stacking Plan
Site Plan
Floor Plans
Property Photos
17181920212326
Aerial Map
Location Map
Skyway Map
Area Demographics
Financial Projections
Area Amenities
St. Paul Overview
affiliated business disclosure &disclaimer
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AFFILIATED BUSINESS DISCLOSURECBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgment of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).
DISCLAIMERThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability 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, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.
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property highlights
• Unique once in a lifetime opportunity to own a world class historic library.
• Owner seeking interested parties• Never before on market• On the National Historic Register• Historic Structures Report available• Historical tax credit potential • PVN Consulting has provided historic consulting services to owner• Negotiable pricing• Arts District location on Rice Park• Near skyway system• Neighboring St. Paul Public Library (not part of offering)
The Historic James J. Hill Center was founded in 1921as a private, non-profit reference library. The
facilities are ideal for meetings, weddings, corporate events, and various gatherings up to 300 people.
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property information
stacking plan
BASEMENT
1ST FLOOR
2ND FLOOR
3RD FLOOR
Property Description: James J. Hill Center 80 W 4th Street, St. Paul MN 55102
Square Footage: 43,776 SF gross building (per Ramsey County) 3 levels plus lower level22,000 USF per Miller Dunwiddie Architecture
Parcel Size: 0.472 Acres (20,568 SF)Year Built: 1921 (est.) Built
Many Improvements since. Good repair records.HVAC: Boiler. No District Energy. Current contemplation to switch over at a cost of $500,000Parcel Number: 06-28-22-24-0012Tax Expense: Property Tax Exempt, except streetscape $3,023/yr 2018Zoning: B4Sprinkled: No.Ceiling Height: Varies. Large center atrium.Construction: Masonry/Steel frame structureBathrooms: Updates 2013Environmental: No phase I. Not all asbestos remediated.Surrounding Uses: Multi-family residential/school/office/parking ramp/library/concert hall/park/muse-
um/Xcel Energy CenterDeferred Maintenance: Yes, see HSR (Historic Structures Report by PVN/HGA 2018)Roof: 1991 roof restored. 2015 roof repairs.Dock Door: None. South delivery service entrance off KelloggLighting / Electric: No back up generator.
No redundant electrical.Parking: Minimal control (Est. 4 stalls) on site next to service entranceElevator: Yes (New 2017)Title Report: AvailableOther: ADA entrance is south entrance, not main north entrance
2011 windows replaced
CENTER ATRIUM
Meeting Space/Storage Space/Mechanical South Grade Entrance/Windowed Spaces
SF
SF
SF
SF
site plan16 10
floor plans
11 12
floor plans
floor plans
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floor plans
floor plans
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floor plans
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exterior photos
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interior photos
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aerial map
location map
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1 MILE 3 MILE 5 MILES2018 Population - Current Year Estimate 17,901 166,415 369,3562023 Population - Five Year Projection 19,418 173,441 383,8582010 Population - Census 15,048 155,081 346,4892000 Population - Census 13,228 160,211 348,0352010-2018 Annual Population Growth Rate 2.13% 0.88% 0.78%2018-2023 Annual Population Growth Rate 1.64% 0.83% 0.77%
2018 Households - Current Year Estimate 10,101 63,691 144,2352023 Households - Five Year Projection 11,006 66,379 149,7412010 Households - Census 8,422 59,759 136,5992000 Households - Census 7,087 60,439 137,7082010-2018 Annual Household Growth Rate 2.23% 0.78% 0.66%2018-2023 Annual Household Growth Rate 1.73% 0.83% 0.75%2018 Average Household Size 1.86 2.55 2.48
2018 Average Household Income $71,212 $68,666 $77,7622023 Average Household Income $86,371 $80,667 $89,9552018 Median Household Income $44,745 $46,874 $53,2872023 Median Household Income $54,285 $53,220 $59,7012018 Per Capita Income $41,067 $26,717 $30,8502023 Per Capita Income $49,741 $31,265 $35,546
2018 Housing Units 11,071 69,998 155,1172018 Vacant Housing Units 970 8.8% 6,307 9.0% 10,881 7.0%2018 Occupied Housing Units 10,102 91.2% 63,690 91.0% 144,236 93.0%2018 Owner Occupied Housing Units 2,806 25.3% 31,017 44.3% 78,951 50.9%2018 Renter Occupied Housing Units 7,296 65.9% 32,673 46.7% 65,285 42.1%
2018 Population 25 and Over 13,8330 106,084 239,459HS and Associates Degrees 5,740 41.5% 54,150 51.0% 116,889 48.8%Bachelor’s Degree of Higher 6,973 50.4% 35,483 33.4% 94,293 39.4%
2018 Businesses 2,1690 5,825 11,2862018 Employees 74,231 136,212 216,699
skyway map
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area demographics
RiverParkLofts
MetroSquare
PioneerEndicott
Bldg
Ramsey
County Govt
Center East
180 E5th Bldg
380Jackson
Kellogg
Square
MetCouncil
Chamber of
Commerce
GoldenRule Bldg
CityWalk
MN Public
Radio
UBSPlaza
TownSquareTower
Town
Square
AthleticClub Bldg
345
Cedar St
Wells FargoPlace
State PublicHousingAgency
GalleryTowers
ParkSquareTheatre
LawsonCommons
City Hall
Annex
City Hall& CourtHouse
Landmark
Towers
St. PaulHotel
JamesJ. HillCenter
George LatimerCentralLibrary
Land
mar
kC
ente
r
OrdwayCenter
Roy WilkinsAuditorium
ECOLAB
St. Joseph'sHospital
StateCapitol
MinnesotaJudicialCenter
CentennialBuilding
Armory
MN Dept ofRevenue
State VeteransService Bldg
TheLowry
Degreeof
Honor
Central
Towers
GalleryBldg
Scientology
Center
Ramsey Co.Juvenile and
Family JusticeCenter
Ramsey Co.Public Health
Capitol
City
Ramp
FirstNational
Bank Bldg
SecurianCenter
401 Bldg
Warren BurgerFederal Courts
Bldg
375
Jacks
on
Mears ParkPlace Apt
SecurianCenter
400 Bldg
Concourse
GilbertBldg
Railroader
Printing
Building
Capitol
City
Ramp
W.
7th
Ente
rtain
men
t
Distric
t
VictoryParking
Ramp
375
Jackson
Robert St.Ramp
Minnesota
Bidg.
Farmers
Market
Union
Depot
Twin CitiesPBSUS Bank C
enter
Double Treeby
Hilton Hotels
InterContinental
Hotel
Walsh
Gaertner
Fitzgerald
Theater
McNally
Smith
College
of Music
History
Theatre
Minnesota
Children's
Museum
Palace
Theatre
ScienceMuseum
of MN
Saint Paul RiverCentreParking Ramp
Saint PaulRiverCentre
Xcel
Energy
Center
Travelers
Alliance
Bank Center
333on thePark
Park
Square Court
Elmer L Anderson
Human Services B
ldg
Jackson St. Ramp
Wold Trade
Center Ramp
JACKSON ST
Treasure Island
Center &
TRIA Rink
Kellogg Mall
Mears Park
Rice Park
CH
S Field
Cleveland Circle
Wacouta Com
mons
Raspberry Island Regional Park
Culture Park
Landmark Plaza
Pedro Park
Kellogg Blvd
Capital Centre Plaza
Depot Totlot
Hamm Memorial Plaza
Lower Landing Park
Mississippi River
ROBERT ST N
6TH ST E
INTERSTATE 94
4TH ST E
5TH ST E
7TH ST E
9TH ST E
2ND ST
CEDAR ST
12TH ST E
MINNESOTA ST
10TH ST E
SHEPARD RD5TH ST W
WACOUTA ST
JACKSON ST
WALL ST
11TH ST E
KELLOGG BLVD E
KELLOGG BLVD W
PINE ST
WABASHA ST N
INTE
RSTA
TE 3
5E
4TH ST W
6TH ST W
SB I35E TOSB
HWY52
MAR
KET ST
8TH ST E
10TH ST W
SAINT PETER ST
NB I35E TO EB I9
4
SB I35E TO W
B I94
12TH ST W
7TH ST W
EXCHANGE ST S
ONTARIO ST
14TH ST
WAS
HIN
GTO
N S
T
EXCHANGE ST W
WB I94 TO 12TH ST E
NBI3
5ETO
11TH
ST W
WB I94 TO
NBI35E
EAGLE ST
PRIVATE DR
7TH PL E
JOHN ST
DO
RO
THY
DAY
PL
EB I94 TO WALL ST
9TH ST W
TEMPERANCE ST
12TH ST W TO WB I94
OLD 6TH ST
12TH
ST
W T
O S
B I3
5E
ROBERT ST S
JACKSON ST TO EB I94
JA
CKSONST TO
SBI35
E
WARNER RD
SIBLEY ST
11TH ST W
7TH PL W
COLUMBUS AVE
CENTRAL PARK PL
SB I35E TO EB I94
SB I35E TO 10TH
ST E
REV. DR. MARTINLUTHER KING JR
BLVD
BROADWAY
ST WB
I94
TO6T
HST E
EAGLEPKW
Y
EXCHANGE ST E
BALSAM ST
SMITH AV
E N
OLIVE ST
BROADWAY ST TO NB I35E
5TH ST WTO
WB I94
SAINT JOSEPHS LN
5TH ST E
WABASHA ST N
5TH ST W
INTERSTATE 94
INTE
RSTA
TE35
E
WABASHA ST N
SIBLEY ST
BROADWAY ST
9TH ST E
6TH ST W
8TH ST E
10TH ST E
9TH ST E
SAINT PETER ST
SIBLEY ST
5TH ST W
10TH ST E
INTERSTATE 35E
INTERSTATE 35E
7TH PL E
MINNESOTA ST
JOHN STBROADWAY ST
!(41
!(45
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!(20
!(7
!(49
!(39
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!(2
!(26
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!(5
!(12
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!(51
!(16
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!(27
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!(40
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Skyway Map LegendSkyway Bridge
Reduced Hours Bridge/Path
Pedestrian Easement Path
Below Grade Tunnel
!( Skyway Bridge Numbers
Light Rail, Green Line
BuildingsParking Locations Updated: 1/19/2018
Scan the above QRcode to go to
Web/Mobile Versionof the Skyway Map
Welcome to Saint Paul’s Pedestrian SkywayWelcome to Saint Paul - Minnesota's capital city on the bluffs of the iconic Mississippi River. Downtown Saint Paul boasts a fully enclosed and temperature-controlled skyway system covering 47 city blocks andspanning five miles, making it one of the largest in the world. The system connects pedestrians to many of Saint Paul's best attractions, award-winning restaurants and entertainment venues. Use the skyway
system to explore downtown and look for access points to and from the street level.
We're glad you're here in Saint Paul!If you have any questions regarding Saint Paul’s Pedestrian Skyway System or wish to report a concern, contact the City of Saint Paul at 651-266-8989 or [email protected].
An interactive web version of the skyway map is available at https://www.stpaul.gov/skywaymap.
CALL 911 FOR EMERGENCIES.
LRT Vertical
Connection
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financial projections
REVENUE
Potential Event Rental $600,000/yr est. (52 weekends x 2 events x $5,000/event)
Potential Weekday Rental of Conference Room $20,000/yr est. ($400/day x 52/yr)
Potential Vacant Space Rental $110,000/yr est. (5,000 SF x $20/SF/yr)
EXPENSES
Property Taxes Not on tax rolls (special assessment $3,023/yr est.)A new owner may be taxed differently.
Property Insurance $12,000/yr est
Utilities $50,000/yr est
Maintenance Varies (See HSR)
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area amenities
W Kellogg Blvd7th
St W
St. Peter St Wabasha St N
Cedar St
4th St E
5th St E
6th St E
Smith
Ave N
Shepard Rd
N Chestnut St
7th St W
W 5th St
W 6th St
Missis
sippi R
iver
19 20
21
22
23
1
4 3
2
56
7
24
25
26
19
20
21
22
ENTERTAINMENT
23Xcel Energy Center
Roy Wilkins Auditorium
St. Paul RiverCentre
Ordway Center
Minnesota Science Museum
24
25
26
Palace Theatre
Minnesota Children’s Museum
TRIA Rink
8
910
1113
1214
1617
15
18
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
DINNING
Herbie’s On The Park
Sakura
Pazzaluna
The St. Paul Grill
Chipotle
Kincaid’s
Meritage
Mickey’s Diner
The Liffey Irish Pub
Eagle Street Grille
Seventh Street Truck Park
New Bohemia
Cossettas
Patrick McGovern’s Pub
Downtowner Woodfire Grill
Burger Moe’s
Tom Reid’s Hockey City Pub
Parlour St. Paul
27
28
29
30
HOTELS
The St. Paul Hotel
InterContinental Hotel
DoubleTree Hotel
Holiday Inn
27
28
29
30
N Walnut St
31 Hampton Inn
31
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st. paul overview
RECENT NEW DEVELOPMENTS:
Home to many colleges and universities, St. Paul has a highly educated workforce
Capital of MinnesotaGovernemtnet Center
Second largest city in Minnesota
15th largest metropolitan area in the United States
Recently renovated, Union Depot links intercity bus lines, charter bus lines, the commuter rail, the passenger rail to Chicago, taxis, and rental cars to St. Paul.
The 11 mile Green Line light rail system links downtown St. Paul to downtown Minnapolis, with future extension planned to Eden Prairie.
franksherwood952 924 4823
jerrydriessen
612 336 [email protected]
INTERESTED PARTIES MUST NOT: • Tour the property without attendance by CBRE or prior
approval by CBRE• Contact local employees regarding the property