leased investment opportunity - loopnet · 2019. 7. 19. · leased investment opportunity 14,679sf...

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LEASED INVESTMENT OPPORTUNITY 14,679sf FREE STANDING INDUSTRIAL BUILDING 255 CROUSE DRIVE , CORONA, CA 92879

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  • LEASED INVESTMENT OPPORTUNITY14,679sf FREE STANDING INDUSTRIAL BUILDING

    255 CROUSE DRIVE , CORONA, CA 92879

  • Confidentiality AgreementYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memoran-dum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or Johnston Pacific Real Estate, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or Johnston Pacific Real Estate, Inc.If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to Johnston Pacific Real Estate, Inc.

    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 Johnston Pacific Real Estate, 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.

    © 2019 Johnston Pacific Real Estate, Inc. All Rights Reserved.

  • Rob JohnstonOffice (949) [email protected]# 01121630

    Louis JohnstonOffice (949) [email protected]# 02054162

    FOR MORE INFORMATION OR QUESTIONS PLEASE CONTACT:

    TABLE OF CONTENTS 1. Property Overview

    2. Investment Summary

    3. Investment Valuation

    4. Tenant Information

    5. Location Description

  • PROPERTY OVERVIEW

    • 14,679 sf Industrial Building

    • 13,179 sf Warehouse

    • 1,500 sf OfficeSpace

    • 22’ Warehouse Clearance

    • One Ground Level Loading Door

    • Power:800Amps, 3 Phase 4 Wire, 277/480 Volt

    • Zoned M-1

    • Built in 2004

    • 2.3:1 Parking

    • Fully Fire Sprinklered

    • ThreeOffices

    • OneOpenOffice Area

    • OneReceptionArea

    • Three Restrooms

    • Free Standing Building

    • Immediate Freeway

    Access

  • INVESTMENT SUMMARY

    Tenant Living Ecology, Inc.

    Lease Form Industrial Single Tenant Triple Net Lease

    NOI$149,500.32 (5-18-19 through 5-7-20)

    Est. Operating Expenses• Property Tax Bill (7/1/18-6/30/19):

    $27,465.08• HOA (billed annually):

    $4,326.73• Insurance (billed annually):

    $5,033.15

    Remaining Lease TermApprox. 8 Years (expiring on May 7, 2027)

    Purchase Price$3,728,466

  • throughthroughthroughthroughthroughthroughthroughthrough

    5-8-195-8-205-8-215-8-225-8-235-8-245-8-255-8-26

    MonthsRent / Triple

    Net Basis$12,458.36$12,832.11$13,217.08$13,613.59$14,021.99$14,442.65$14,875.93$15,322.21

    Rent / SF. Net

    $0.849$0.874$0.900$0.927$0.955$0.984$1 .013$1.044

    MONTHLY RENT SCHEDULE:

    INVESTMENT VALUATION

    5-7-205-7-215-7-225-7-235-7-245-7-255-7-265-7-27

  • TENANT INFORMATION

    About Organic Food Bar, Inc

    The business, Organic Food Bar, Inc. and the real estate are owned by a private individual.

    Organic Food Bar is a tightly-knit family. Each person who works at their headquarters in Henderson, Nevada is a member of that family. Most of their staff has been with the company for many years, because they all deeply believe in the vision of Organic Food Bar.

    All Organic Food Bar products are made in a solar powered facility that is GMO, Organic, Gluten Free and Kosher certified, as well as nonGMO project verified.

    The bottom line at Organic Food Bar is that they focus on three simple things: their people, their products and their customers.

    Source & more information: www.organicfoodbar.com/about-us/

  • LOCATION DESCRIPTION

    The City of Corona

    The City of Corona is located approximately 45 miles southeast of Los Angeles in western Riverside County. The City limits encompass 39.2 square miles and the population is over 160,000.

    Corona’s industrial base has played an important role in the growth of the City and its employee base. Corona’s economy is strong and getting stronger! There are more than 42,000 jobs within the city of Corona and there is a workforce of more than 84,000. The retail and commercial areas are expanding and office development is booming. Corona has more than 34 million square feet of industrial space and more than 3 million square feet of office space existing, under construction, or planned. Economic Development is the business advocate always looking for ways to help the business community with incentives, communication, and team building.

    Source & more information: https://www.coronaca.gov/about-us

  • 255 Crouse Drive, Corona, CA 92879

    N M

    cKinley St

  • This information had been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it, make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and

    completeness. All information is subject to change without notice.

    Rob JohnstonOffice (949) 366-2020

    [email protected]# 01121630

    Louis JohnstonOffice (949) 366-2020

    [email protected]# 02054162