5520 Ruffin Road - LoopNet · This offering provides an exciting opportunity for an Owner User....

5520 Ruffin Road

RR

Josh [email protected] #01761228

Doug Ceresia, SIOR, CCIM [email protected] # 01314250

Matt [email protected] # 01826378

EXCLUSIVE ADVISORS5090 Shoreham PlaceSuite 106San Diego, CA 92122619 630 4554dmjpartners.com2

TABLE OF CONTENTS

E X EC U T I V E S U M M A RY

P R O P E RT Y D E S C R I P T I O N

M A R K E T OV E RV I E W

F I N A N C I A L A N A LYS I S

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5520 Ruffin Road

RR

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.

5090 Shoreham PlaceSuite 106San Diego, CA 92122619 630 4554dmjpartners.com

Executive Summary

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Executive Summary

DMJ Partners has been retained on an exclusive basis by the Owner to market for sale the two story office building located at 5520 Ruffin Road, San Diego CA to

qualified principals.

5520 Ruffin Road features easy access to I-15, Highway’s 52 & 163 and Clairemont Mesa Boulevard. It is near restaurants, retail and hotels and

the new Kaiser Memorial Hospital. The building has 49 parking spaces and is partially owner occupied. The subject property was built in 1975 and is a

16,434 SF, multi-tenant office building on a 0.85 acre site. It consists of two floors with the Owner’s suite on the first floor. The common areas are well maintained

and the exterior of the building is well landscaped.

This offering provides an exciting opportunity for an Owner User.

5520 Ruffin Road

RR

PROPERTY DESCRIPTION

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Address 5520 Ruffin RoadSan Diego, CA 92123

Submarket Kearny Mesa

Purchase Price $3,990,000

Project Size 16,434 RSF

Building Class B

Number of Buildings 1

APN # 369-191-23

Stories 2

Year Built 1975

Parking 49 Surface Parking Spaces Available

Construction Type Wood Frame with Stucco Cover

Foundation The foundation consists of reinforced concrete slab with basement

Roof White cool roof installed approximately 10 years ago

Elevators N/A

HVAC Roof Mounted Packaged Units

Electrical Suites are Separately Metered

Utilities Water/Sewer, City of San Diego; Electricity/Gas, San Diego Gas & Electric

Landscaping The project features concrete curbs and walkups through the exterior and side parking areas

Internet Fiber (Cox and AT&T)

Power 1,000 AMPS of 110v; 300 AMPS of 208v

Monthly Incomefrom Tenants

$3,082.00

Pacific Ocean

Address 5520 Ruffin Road, San Diego, CA 92123

Location This two-story property is located east of Highway 163, and West of Interstate 15 in the Kearny Mesa submarket. 3 Miles West 1 Mile North 4 Miles West .7 Miles East

Access The Property is accessible by one entrance off of Ruffin Road

Zoning IL-2-1

Lot Size .85 Acres

APN 369-191-23

SITE DESCRIPTION

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5520 Ruffin Road

Claire

mont M

esa Blvd

.Ruffin Road

NEW Kaiser Permanente 2017 Completion

National UniversityCounty of San Diego

Operations Center

Northrop Grumman

Toby Wells YMCA

Montgomery Field

Jack In The Box Superior Courthouse

Bridgepoint EducationSharp Healthcare

Raytheon Intergrated Defense

Cubic Corporation

Solar Turbines SDGE

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Ruffin Road

NEW Kaiser Permanente Medical Center

FIRST FLOOR

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SECOND FLOOR

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MARKET OVERVIEW

San Diego County

San Diego County with more than 3.3 million residents is the fifth largest county in America.

Bordered by the Pacific Ocean to the west, the Anza-Borrego Desert and the Laguna Mountains to the east,

Marine Corps Base Camp Pendleton to the North and Mexico to the south, the diverse neighborhoods of San Diego are spread out

over 4,200 square miles. With its year-round warm climate, 60 miles of coastline and appealing work, live, play lifestyle, the city is highly

desirable.

Referred to as America’s finest City, the City of San Diego boasts a citywide population of nearly 1.3 million residents and more than 3 million residents county-wide. It encompasses 18 incorporated cities and numerous other charming neighborhoods and communities, including downtown’s historic Gaslamp Quarter, Little Italy, Coronado, La Jolla, Del Mar, Carlsbad, Escondido, La Mesa, Hillcrest, Barrio Logan and Chula Vista just to name a few.

The city is the heart of San Diego County and is the economic center of the region as well as the San Diego–Tijuana metropolitan area. San Diego’s main economic engines are military and defense-related activities, tourism, international trade, manufacturing and the especially rapidly growing high tech industry.

San Diego hosts several major producers of wireless cellular technology. Qualcomm was founded and is headquartered in San Diego and is one of the largest private-sector employers in San Diego. The presence of the University of California, San Diego (UCSD), with the affiliated UCSD Medical Center, has helped make the area a center of research in biotechnology.

Recently, San Diego was designated by a Forbes columnist as the best city in the country to launch a small business or startup company.

San Diego is the fifth largest county in the United States and the second largest in California. By 2020, the County’s population is forecasted to be 3.54 million people.

According to the State of California Employment Development Department, as of September 2018 the San Diego County unemployment rate was 3.2%, which is the lowest level since May 2007. The County unemployment rate compares favorably with the state of California’s unemployment rate of 3.9% and 3.6% for the nation.

Population3.3 Million

Income$81,800

Unemployment3.2%

Transportation

According to most recent information collected for the San Diego County Housing and CommunityDevelopment Services data, the 2018 Area Median Income (AMI) for San Diego County is $81,800 The California Department of Transportation is forecasting real average salaries rising by an average of 1.4 percent per year from 2014 to 2019.

San Diego is served by a network of freeways and highways, the San Diego Trolley light rail system, the SDMTS bus system, and Coaster and Amtrak Pacific Surfliner commuter rail . There are two Amtrak stations in San Diego, in Old Town and the Santa Fe Depot downtown.

The city’s primary commercial airport is the San Diego International Airport, also known as Lindbergh Field. It is located along the San Diego Bay, 11.5 miles from the subject property in Kearny Mesa. In addition, the city itself operates two general-aviation airports, Montgomery Field and Brown Field.

KEARNY MESA MARKET

Kearny Mesa is a submarket in the central part of San Diego. Nearby communities include Serra Mesa, Clairemont and Tierrasanta. Kearny Mesa is named for the former Camp Kearny, a U.S. military base which operated in the area from 1917 to 1946 and eventually became Marine Corps Air Station Miramar.

The urbanization of Kearny Mesa began in 1937 with Gibbs Airfield, now the small airfield Montgomery Field. Beginning in 1955 with General Dynamics, numerous aerospace, electronic, and other industrial and office firms located in the area. There was also commercial development, particularly west of State Route 163. The majority of the Kearny Mesa area is commercial and industrial. Local businesses in that area include auto sales, restaurants, supermarkets (American and Asian), national chain stores, and small businesses.

The eastern side of State Route 163 includes newer development consisting of mostly office, retail and residential with numerous headquarter locations making this building a perfect opportunity for an owner user.

Kearny Mesa

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Submarket: Scripps Ranch Buyer: WD-40 Company

Sale Price: $10,676,500 Seller: 9715 Businesspark Avenue, LLC

Year Built: 1985 Building Size: 42,706

Sale Date: 9/13/2016 Land Area: 2.23 Acres

Price PSF: $250.00 % Leased: 100%

# of Stories: 3 Cap Rate: N/A

9715 Businesspark Avenue9715 Businesspark Avenue

Submarket: Scripps Ranch Buyer: Navy Federal Credit Union HQ

Sale Price: $6,472,500 Seller: Currie/Samuelson Development





9999 Willow Creek Road9999 Willow Creek Road

Submarket: Mission Valley Buyer: California Schs Voluntary Emps

Sale Price: $6,375,000 Seller: NBTK Holdings, LP


Sale Date: 9/30/2016 Land Area: .83 Acres

Price PSF: $238.76 % Leased: 32.8%


1843 Hotel Circle South1843 Hotel Circle South

Submarket: Sorrento Mesa Buyer: Baqueira, LLC

List Price: $2,250,000 Seller: Wateridge Industrial Partnership


Sale Date: 10/26/2016 Land Area: .50 Acres



Wateridge Pavilion10515 Vista Sorrento Parkway

Submarket: Sorrento Mesa Buyer: Shekar San Diego, LLC

Sale Price: $2,850,000 Seller: EJMC, Inc.





First Edition Office Park6205 Lusk Boulevard

COMPETITIVE SETS | OWNER USER SALE COMPARABLES

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FINANCIAL ANALYSIS

Suite Tenant RSF Rent per Month Expiration

100 Vacant 4,016 $0.00 N/A

109 LA City Blessing Church, Inc. 1,993 $3,082.00 month-to-month

111 Vacant 1,993 $0.00 N/A

201 Vacant 1,420 $0.00 N/A

203 Vacant 1,070 $0.00 N/A

205 Vacant 1,520 $0.00 N/A

206 LA City Blessing Church, Inc. 822 $0.00 month-to-month

208 Vacant 1,393 $0.00 N/A

209 Vacant 2,207 $0.00 N/A

TOTAL 16,434 $3,082.00

RENT ROLL

5520 Ruffin Road

RRExclusive Advisors

Matt Midura619.391.1891 | [email protected] # 01826378

Doug Ceresia, SIOR, CCIM619.391.1890 | [email protected] # 01314250

Josh Buchholz619.391.1889 | [email protected] #01761228

5520 Ruffin Road - LoopNet · This offering provides an exciting opportunity for an Owner User....

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