BIOTECHNOLOGY CENTER NEW 11-YEAR NNN LEASE SORRENTO · san diego, ca. investment opportunity. new...

Pacific Ocean

OFFERED AT $2,027,000 | 6% CAPOFFERED AT: $3,500,000 | 4.00% CAP

Pacific Ocean

BETTER BUZZ COFFEE

SAN DIEGO, CA

INVESTMENT OPPORTUNITY

NEW 11-YEAR NNN LEASE

UNIVERSITY OF CALIFORNIASAN DIEGO

SORRENTO VALLEY

MIRAMAR RD46,000 CPD

PRODUCTION AVE

CARROLL CANYON RD (9,400 CPD)

CARROLL RD

BIOTECHNOLOGY CENTER

MIRAMAR CENTER

MIRAMAR VILLAGESHOPPING CENTER

COMMERCE AVE

CAMINO SANTA FE

MALAHATSPIRITS

CITY OF SAN DIEGOENVIRONMENTAL SVCS

TORREY PINESGOLF COURSE

246,500 CPD

179,200 CPD

422,000 CPD

Representative Photo

EXECUTIVE SUMMARY PROPERTY INFORMATION AREA OVERVIEWTENANT OVERVIEW

BETTER BUZZ COFFEE | San Diego, CA | 2

TABLE OF CONTENTS

3 Executive Summary

4 Investment Highlights

5 Lease Summary & Rent Overview

6 Location Maps

7 Site Plan

8 Representative Building Photos - Pacific Beach

9 Aerials

14 About Better Buzz

15 San Diego Overview

16 Demographics

Confidentiality Agreement & Disclosures

Color Scheme

Fonts

GOTHAM/ BLACKGOTHAM/ MEDIUMGOTHAM/ LIGHT

CMYK C:0 / M:100 / Y:65 / K:47

RGB R:145 / G:0 / B:40

CMYK C:0 / M:0 / Y:0 / K65

RGB R:119 / G:120 / B:123

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

EXCLUSIVELY LISTED BY

Representative Photo - Pacific Beach Location



PROPERTY OVERVIEW

Address: 6912 Miramar Rd, San Diego, CA 92121Building Size/GLA: Approx. 1,390 Sq. Ft. w/ Drive ThruLand Size: 0.40 Acre

APN: 343-050-76-00

Ownership: Fee Simple (Land, Building)Year Built: 1980/Renovated 2015/2019-2020Parking: 26 Spaces

INVESTMENT HIGHLIGHTSOffering Price: $3,500,000Net Operating Income: $140,000Cap Rate: 4.00%Lease Type: NNNRent Increases: 10% Every 5 Years

Lee & Associates is pleased to exclusively offer for sale, the fee simple interest (land & building) in a Better Buzz Coffee property located in Miramar, CA (San Diego) (the “Property”). Currently under renovations, the Property consists of a 1,399-square-foot retail building with drive-thru situated on a 0.40-acre parcel. The building is leased by Better Buzz Coffee (www.betterbuzzcoffee.com), one of San Diego’s most popular and prolific coffee companies. Anchored by its production roastery in Vista (North San Diego County) which delivers fresh coffee throughout the week to its 11 satellite locations within San Diego County (Mission Beach, Pacific Beach, Point Loma, Fashion Valley, Pacific Beach West, La Jolla, Encinitas, Miramar, San Marcos and its stunning multi-level corporate office and cafe in Hillcrest). The company has shown unprecedented growth the past 36 months and is planning to open at least two additional locations by the end of 2019. The company’s success in San Diego County is hard to argue as they are showing a strong $1,950,000 average store level sales for 2018. Currently undergoing a complete renovation, this location will feature a drive-thru lane and 26 parking spaces. Better Buzz Coffee is executing a new 11-year NNN lease that will feature (2) 5-year renewal options. Additionally, the lease calls for 10% rent increases every 5 years in both the Primary term and the Option periods, providing for outstanding income growth.The subject property is ideally located along Miramar Rd, which is a main commuter corridor to/from Interstate 805, La Jolla, Miramar Air Station, and Interstate 15. This location offers an outstanding customer draw to the area and excellent visibility & signage to 46,000+ cars per day. The Miramar submarket consists of approximately 14 million square feet of distribution, warehouse, office, and Miramar Road frontage retail related space. Miramar is one of San Diego County’s most recognized real estate markets due in part to its central location, size, and traditional industrial characteristics. This market historically maintains one of the highest occupancy rates in the county, with recent occupancy rates at approximately 91%.The Better Buzz is located near the entrance to the Marine Corps Air Station Miramar, which is home to the 3rd Marine Aircraft Wing, the aviation element of the 1st Marine Expeditionary Force. The air station is the former location of Pacific Fleet fighter and Airborne Early Warning and Control aircraft (F-4 Phantom II, F-14 Tomcat, E-2 Hawkeye) and is best known as the former location of the United States Navy Fighter Weapons School (NFWS), its TOPGUN training program and the movie of the same name. The property is located within a strong retail trade area with neighboring tenants including Denny’s, McDonald’s, Jiffy Lube, Mattress Firm, Chevron, Dixieline Lumber, Ashley HomeStore, and more. There are nearly 258,000 people within a 5-mile radius of the subject property with an average household income of $126,000.San Diego is the eighth-largest city in the U.S. and the second largest in California. The city is the seat of San Diego County and is the economic center of the region. San Diego’s main economic engines are military and defense-related activities, tourism, international trade, and manufacturing. Additionally, 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.

-- OFFERING SUMMARY --

• Offering Summary • Investment Highlights



Lease Summary & Rent Schedule




-- INVESTMENT HIGHLIGHTS --

BETTER BUZZ COFFEE • 11 LOCATIONS WITHIN SAN DIEGO COUNTY • STRONG BALANCE SHEET & STRONG AVERAGE STORE SALES ($1.95M IN 2018) • UNPRECEDENTED GROWTHThe building is leased by Better Buzz Coffee (www.betterbuzzcoffee.com), one of San Diego’s most popular and prolific coffee companies. Anchored by its production roastery in Vista (North San Diego County) which delivers fresh coffee throughout the week to its 11 satellite locations within San Diego County (Mission Beach, Pacific Beach, Point Loma, Fashion Valley, Pacific Beach West, La Jolla, Encinitas, Miramar, San Marcos and its stunning multi-level corporate office and cafe in Hillcrest). The company has shown unprecedented growth the past 36 months and is planning to open at least two additional locations by the end of 2019. The company’s success in San Diego County is hard to argue as they are showing a strong $1,950,000 average store level sales for 2018.

COMPLETELY NEW RENOVATIONS • NEW 11 YEAR NNN LEASE • 10% RENT INCREASES EVERY 5 YEARSCurrently undergoing a complete renovation, this location will feature a drive-thru lane and 26 parking spaces. Better Buzz Coffee is executing a new 11-year NNN lease that will feature (2) 5-year renewal options. Additionally, the lease calls for 10% rent increases every 5 years in both the Primary term and the Option periods, providing for outstanding income growth.

DESIRABLE MIRAMAR SUBMARKET: 14 MILLION SF OF INDUSTRIAL, OFFICE & RETAIL SPACE • 91% OCCUPANCY RATE IN TRADE AREA • STRONG COMMUTER TRAFFIC ALONG MIRAMAR ROAD (46,000 CPD)The subject property is ideally located along Miramar Rd, which is a main commuter corridor to/from Interstate 805, La Jolla, Miramar Air Station, and Interstate 15. This location offers an outstanding customer draw to the area and excellent visibility & signage to 46,000+ cars per day. The Miramar submarket consists of approximately 14 million square feet of distribution, warehouse, office, and Miramar Road frontage retail related space. Miramar is one of San Diego County’s most recognized real estate markets due in part to its central location, size, and traditional industrial characteristics. This market historically maintains one of the highest occupancy rates in the county, with recent occupancy rates at approximately 91%.

LOCATED NEAR ENTRANCE TO MARINE CORPS AIR STATION MIRAMAR • HOME TO 12,000+ PERSONNELThe Better Buzz is located near the entrance to the Marine Corps Air Station Miramar, which is home to the 3rd Marine Aircraft Wing, the aviation element of the 1st Marine Expeditionary Force. The base is home to more than 12,200 Marines, Sailors and civilians, making it a major employer and shaper of the neighborhodd’s culture and overall character. Over 56% of employed workers living in Miramar are employed by MCAS Miramar. Most of the residential real estate is renter occupied.

LOCATED IN STRONG RETAIL TRADE AREA • NATIONAL TENANTS JIFFY LUBE, DIXIELINE LUMBER, ASHLEY HOMESTORE, MATTRESS FIRM • STRONG RETAIL SYNERGYThe property is located in a strong retail trade area with neighboring tenants including Denny’s, McDonald’s, Jiffy Lube, Mattress Firm, Chevron, Dixieline Lumber, Ashley HomeStore, and more. There are nearly 258,000 people within a 5-mile radius of the subject property with an average household income of $126,000.

MIRAMAR: ONE OF SAN DIEGO COUNTY’S MOST RECOGNIZED REAL ESTATE MARKETS • CITY OF SAN DIEGO-8TH

LARGEST CITY IN THE U.S. & 2ND LARGEST CITY IN CALIFORNIASan Diego is the eighth-largest city in the U.S. and the second largest in California. The city is the seat of San Diego County and is the economic center of the region. San Diego’s main economic engines are military and defense-related activities, tourism, international trade, and manufacturing. Additionally, 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.

• Investment Highlights •

GROSSMONT COLLEGE

SANTEE


COMMERCE AVEPRODUCTION AVE

CAMINO SANTA FE


MIRAMAR CENTER

MIRAMAR CROSSINGS

MARINE CORPS AIR STATION MIRAMAR

• Employs Over 56% of Miramar Residents• Home to 12,200 Marines, Sailors, & Civilians

Offering Summary Lease Summary & Rent Schedule



-- LEASE SUMMARY --

LEASE INFORMATION

TENANT: Better Buzz Coffee Companydba Better Buzz Coffee Roasters

BUILDING SIZE/GLA: Approx. 1,390 Sq. Ft. and Drive Thru

LOT SIZE: 0.40 Acre

APNs: 343-050-76-00

LEASE COMMENCEMENT: May 6, 2020

LEASE EXPIRATION: May 5, 2031

BASE TERM: 11 Years

OPTIONS TO RENEW: (3) 5-Year Options to Renew

RENT INCREASES: 10% Increases Every 5 Years

LEASE TYPE: NNN

LANDLORD RESPONSIBILITIES: Roof & Structure

ANNUAL RENT: $140,000

-- RENT SCHEDULE --

RENT SCHEDULE - PRIMARY TERM

TERM START DATE END DATE NOI/YR NOI/MO INCREASE

Years 1 - 5 5/6/2020 5/5/2025 $140,000.00 $11,666.67 10%

Years 6 - 10 5/6/2025 5/5/2030 $154,000.00 $12,833.34 10%

Year 11 5/6/2030 5/5/2031 $169,400.00 $14,116.67 10%

OPTION PERIODS - (3) 5-YEAR OPTIONS TO RENEW

Option 1 5/6/2031 5/5/2035 $169,400.00 $14,116.67 --

5/6/2035 5/5/2036 $186,340.00 $15,528.34 10%

Option 2 5/6/2036 5/5/2040 $186,340.00 $15,528.34 --

5/6/2040 5/5/2041 $204,974.00 $17,081.17 10%

Option 3 5/6/2041 5/5/2045 $204,974.00 $17,081.17 --

5/6/2045 5/5/2046 $225,471.40 $18,789.28 10%

Offering Summary Investment Highlights • Lease Summary & Rent Schedule •




-- LOCATION MAPS --

• Location Maps •

MiramarMemorial

Golf Course


National City

La Jolla

San Diego

El Cajon

Solana Beach

Poway

Encinitas

Santee

Del Mar

Miramar Rd (46,000 CPD)

Miramar Rd (46,000 CPD)

Mira M

esa Blvd

Camino Santa Fe

MiramarNational Cemetery

SORRENTOVALLEY

SuperiorReadyMix

Westfield UTC Mall

North City WaterReclamation Plant

• Feeding San Diego• BioLegend• Covan Worldwide• Instrumentation Lab• Hologic, Inc.• Sotera Wireless• Helix Electrical• Green Flash Brewing

• Trex Enterprise• Merge (IBM)• Space Micro• Dexcom• TriLink BioTech• Shea Homes• Eco Chateau• ACEA Biosciences


14 Miles

12 Mile

s

15 Miles

15 Miles

10 Miles

Site Plan AerialsProperty Photos



-- SITE PLAN --

DRIVE THRU

DRI

VE T

HRU

MIRAMAR RD

REAR ENTRANCE

FRONT ENTRANCE

Location Maps AerialsProperty Photos• Site Plan •



-- NEARBY PACIFIC BEACH LOCATION --

Representative Photo (Pacific Beach Location) Representative Photo (Pacific Beach Location)

Representative Photo (Pacific Beach Location)

Site Plan AerialsLocation Maps • Property Photos •



-- OVERHEAD VIEW --

DRIVE THRUCOMM

ERCE AVE

• Aerials •


ACCESSACCESS

MIRAMAR CENTER


Site PlanLocation Maps Property Photos



-- LOOKING NORTHWEST --


COMMERCE AVE

CAMINO SANTA FE

CAMINO SANTA FE

MIRAMAR CENTER



PRODUCTION AVE


• Aerials •Site PlanLocation Maps Property Photos



-- LOOKING NORTHEAST --


COMMERCE AVE

PRODUCTION AVE

MIRAMAR CENTER







-- LOOKING SOUTHEAST --

COMMERCE AVE

PRODUCTION AVE


MIRAMAR CENTER








-- LOOKING SOUTHWEST --


COMM

ERCE AVEPRODUCTION AVE


MIRAMAR CENTER








Better Buzz Coffee is one of San Diego’s most prolific coffee companies. Anchored by its production roastery in Vista, which delivers fresh coffee throughout the week to its satellite locations, Better Buzz operates branches in Mission Beach, Point Loma, Fashion Valley, Encinitas, and San Marcos in addition to its stunning multi-level corporate office and cafe in Hillcrest.

Better Buzz is known for its popular specialty beverages, ranging from Mexican mochas and mint-infused iced coffee to a golden latte made with tumeric, warm spices, and honey, but it also offers a “purist bar” that brews up classic coffee drinks and pour overs. The cafe will also plans to roll out more single origin coffee options.

Its all-day menu of breakfast snacks, toasts, sandwiches, and award-winning soft-serve ice cream includes a new grains and greens bowl made with organic produce and topped with vegan green goddess dressing.

Working with Capital Real Estate Ventures’ Justin Earley, the company is planning to continue its rapid expansion. Marketing and purchasing coordinator Daniel Greig told Eater that they are working on three more locations by end of 2019.

• About Better Buzz Coffee •

-- About Better Buzz Coffee --

Better Buzz Coffee Drops Coastal La Jolla Cafe~ Eater San Diego | Aug 30, 2019

Better Buzz Expanding Coffee Empire in Pacific Beach and La Jolla~ Eater San Diego | Mar 21, 2019

Better Buzz Preps Coffee Bars in La Jolla and Escondido~ Eater San Diego | Aug 5, 2019



-- SAN DIEGO OVERVIEW --

Demographics• San Diego Overview •

With breakthrough technology companies and research organizations, the largest military concentration in the world and a strong tourism industry, the San Diego region has one of the most diverse, dynamic economies in the country.

San Diego County is the second-most populous county in California and the fifth-most populous in the United States. Situated in Southern California, the San Diego area is known for its mediterranean climate,

ethnic diversity, sprawling metropolis, and as a major hub for the country’s military industry. The culture of San Diego is influenced heavily by American and Mexican cultures due to its position as a border town, its large Hispanic population, and its history as part of Spanish America and Mexico.

The county’s largest continuous high-income urban area is a triangle from a first point on the northern edge of Carlsbad, a second point southeast of Escondido, and a third point on the southern edge of La Jolla. Inland North San Diego County, of which Escondido is at the core, is emerging as a regional economic leader in the forefront of job development and new industries.

Tourists are drawn to the region for everything from shopping to surfing as well as its mild climate. The area features many historical attractions, a thriving musical and theatrical scene, numerous notable special events, professional sports events, a varied cuisine, and a reputation as one of America’s premier centers of craft brewing, with over 100 craft/micro/nano breweries throughout the county that have been sweeping award ceremonies at national and international contests.

The San Diego visitor industry is the third largest industry in the county, and plays a huge role in the region’s economy, generating more than $704.6 million annually in state and local taxes and employing over 180,000 San Diegans - 13% of the jobs in the county. Approximately 34.3 million tourists visit San Diego every year, spending nearly $9.9 billion annually at San Diego businesses and produce $246 million in transient occupancy tax revenues.

The region is host to the third-largest cruise ship industry in California which generates an estimated $2 million an-nually from purchases of food, fuel, supplies, and maintenance services. Three cruise lines home-port in San Diego: Holland America, Celebrity Cruises, and Disney Cruise Line. Holland America uses San Diego as a home port during the winter season. Disney Cruise Line has seasonal Mexican cruises in the spring and fall, as well as a Panama Canal cruise at the end of the visit. Multiple other cruise lines use San Diego as a port of call. In 2019 the Port of San Diego expects to host 92 cruise calls and nearly 300,000 passengers.

San Diego has a strong military presence with 16 naval and military installations of the U.S. Navy, U.S. Marine Corps, and the U.S. Coast Guard. It is the headquarters of the U.S. Navy’s Eleventh Naval District and is the Navy’s principal location for West Coast and Pacific Ocean operations. Naval Base San Diego, California is principal home to the Pacific Fleet (although the headquarters is located in Pearl Harbor). NAS North Island is located on the north side of Coronado, and is home to Headquarters for Naval Air Forces and Naval Air Force Pacific, the bulk of the Pacific Fleet’s helicopter squadrons, and part of the West Coast aircraft carrier fleet. The Naval Special Warfare Center is the primary training center for SEALs, and is also located on Coronado. The area contains five major naval bases and the U.S. Marines base Camp Pendleton. Marine Corps Base Camp Pendleton is the major West Coast base of the United States Marine Corps and serves as its prime amphibious training base. It is located on the Southern California coast, bordered by Oceanside to the south, San Clemente to the north, and Fallbrook to the east.

Education in San Diego is as innovative as many of its industries. The region has established public charter schools that have influenced primary and secondary education across the country. In addition, with its more than 80 universities – including the largest engineering school in the state – and world-class research institutions, San Diego is well-positioned to compete globally in attracting some of the most talented engineers, scientists and technology professionals in the world. The quality of life in the region, combined with strong technology-based industries, means only the best and brightest work and live here. Add to that a robust service sector with professionals in finance, marketing, sales, facilities management and other administrative positions, San Diego is a thriving, diverse economy.



-- DEMOGRAPHICS --

• Approxiimately 3.264 million people live within a 30-mile radius of the property.

• Over 257,000 people live within a 5-mile radius of the subject property.

• The median age in Miramar is 32 which is below the median age in the state of 36.

• The average household income in Miramar is $90,010.

• The Miramar submarket consists of approximately 14 million SF of distribution, warehouse, office, and retail (along Miramar Rd). This market historically maintains one of the highest occupancy rates in San Diego County (91%).

• San Diego’s main economic engines are military and defense-related activities, tourism, international trade, and manufacturing.

• The median single family home value in Miramar is $316,000, which reflects a 4.1% increase over the previous year.

• Approximately 69.9% of residents in Miramar own their home, which is higher than the national average of 63.9%.

• There are over 24,400 households in a 3-mile radius of the subject property.

ECONOMY SNAPSHOT

HOUSING SNAPSHOT

POPULATION SNAPSHOT

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SUMMARY PROFILE2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 32.8788/-117.1669RS1

6912 Miramar Rd2 mi radius 3 mi radius 5 mi radius

San Diego, CA 92121

PO

PU

LATI

ON

2019 Estimated Population 0 T 11,104 67,719 257,496

2024 Projected Population 0 T 11,425 69,262 263,386

2010 Census Population 0 T 9,821 62,047 232,625


Projected Annual Growth 2019 to 2024 - 0.6% 0.5% 0.5%

Historical Annual Growth 2000 to 2019 - 1.8% 1.0% 1.3%

2019 Median Age 33.6 34.6 36.2

HO

US

EH

OLD

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2019 Estimated Households 0 T 4,074 24,424 94,163

2024 Projected Households 0 T 4,227 25,316 97,549

2010 Census Households 0 T 3,524 22,265 84,282




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ETH

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2019 Estimated White - 31.1% 45.8% 53.6%

2019 Estimated Black or African American - 3.7% 3.9% 3.6%

2019 Estimated Asian or Pacific Islander - 56.1% 39.6% 31.2%

2019 Estimated American Indian or Native Alaskan - 0.3% 0.4% 0.4%

2019 Estimated Other Races - 8.7% 10.3% 11.1%

2019 Estimated Hispanic - 10.4% 13.6% 15.7%

INC

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E 2019 Estimated Average Household Income $0 T $100,219 $112,809 $119,892

2019 Estimated Median Household Income $0 T $103,035 $100,545 $100,669

2019 Estimated Per Capita Income $0 T $37,117 $42,034 $44,430E

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)2019 Estimated Elementary (Grade Level 0 to 8) - 3.0% 2.6% 3.2%

2019 Estimated Some High School (Grade Level 9 to 11) - 2.7% 2.8% 2.8%

2019 Estimated High School Graduate - 9.4% 11.9% 12.2%

2019 Estimated Some College - 13.5% 17.8% 18.5%

2019 Estimated Associates Degree Only - 9.1% 8.1% 7.6%

2019 Estimated Bachelors Degree Only - 30.9% 30.1% 30.0%

2019 Estimated Graduate Degree - 31.4% 26.7% 25.7%

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S 2019 Estimated Total Businesses 0 T 4,241 9,057 22,751

2019 Estimated Total Employees 0 T 49,024 104,104 303,490

2019 Estimated Employee Population per Business - 11.6 11.5 13.3

2019 Estimated Residential Population per Business - 2.6 7.5 11.3

©2019, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 10/2019, TIGER Geography

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Lat/Lon: 32.8788/-117.1669RS1


San Diego, CA 92121

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2019 Median Age 33.6 34.6 36.2

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2019 Estimated White - 31.1% 45.8% 53.6%






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2019 Estimated Per Capita Income $0 T $37,117 $42,034 $44,430E

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)2019 Estimated Elementary (Grade Level 0 to 8) - 3.0% 2.6% 3.2%






2019 Estimated Graduate Degree - 31.4% 26.7% 25.7%

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S 2019 Estimated Total Businesses 0 T 4,241 9,057 22,751





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Lat/Lon: 32.8788/-117.1669RS1


San Diego, CA 92121

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2019 Median Age 33.6 34.6 36.2

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2019 Estimated White - 31.1% 45.8% 53.6%






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2019 Estimated Per Capita Income $0 T $37,117 $42,034 $44,430

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2019 Estimated Elementary (Grade Level 0 to 8) - 3.0% 2.6% 3.2%






2019 Estimated Graduate Degree - 31.4% 26.7% 25.7%B

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SS 2019 Estimated Total Businesses 0 T 4,241 9,057 22,751





• Demographics •San Diego Overview

Source: Point2homes.com, RegisUSA, DataUSA

Lee & Associates hereby advises all prospective purchasers of Net-Leased Invesment property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Lee & Associates has not and will not verify any of this information, nor has Lee & Associates conducted any investigation regarding these matters. Lee & Associates makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of an investment property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase.This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Lee & Associates expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of an investment property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any investment property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Lee & Associates and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this investment property.

EXCLUSIVELY LISTED BY

No warranty or representation is made as to the accuracy of the foregoing information. Terms of sale, lease, and availability are subject to change or withdrawal without notice.

BARR&BENNETTNETLEASEDINVESTMENTS

A Lee & Associates Team

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]


BIOTECHNOLOGY CENTER NEW 11-YEAR NNN LEASE SORRENTO · san diego, ca. investment opportunity. new...

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Transcript of BIOTECHNOLOGY CENTER NEW 11-YEAR NNN LEASE SORRENTO · san diego, ca. investment opportunity. new...