DANA POINT MONTESSORI · dana point montessori. 33501 del obispo st. / dana point, ca 92629....
Transcript of DANA POINT MONTESSORI · dana point montessori. 33501 del obispo st. / dana point, ca 92629....
DANA POINT MONTESSORI3 3 5 0 1 D E L O B I S P O S T . / D A N A P O I N T , C A 9 2 6 2 9
OFFERING MEMORANDUM
DANA POINT MONTESSORI3 3 5 0 1 D E L O B I S P O S T . / D A N A P O I N T , C A 9 2 6 2 9
OFFERING MEMORANDUM DISCLAIMER
This Confidential Offering Memorandum (“Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement (the “Confidentiality Agreement”) signed by you and constitutes part of the Confidential Information (as defined in the Confidentiality Agreement). It is being given to you for the sole purpose of evaluating the possible investment in 123 Address Lane, City, State (the “Project”), and is not to be used for any other purpose or made available to any other party without the prior written consent of Alexander Development Group (“Managing Member”), or its exclusive broker, Cushman & Wakefield. This Memorandum was prepared by Cushman & Wakefield based primarily on information supplied by Managing Member. It contains select information about the Project and the real estate market but does not contain all the information necessary to evaluate the Project. The financial projections contained herein (or in any other Confidential Information) are for general reference only. They are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a legal analysis of such documents. While the information contained in this Memorandum and any other Confidential Information is believed to be reliable, neither Cushman & Wakefield nor Managing Member guarantees its accuracy or completeness. Because of the foregoing and since the investment in the Project is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely to facilitate the prospective purchaser’s investigation, must make its independent investigations, projections and conclusions regarding the investment in the Project without reliance on this Memorandum or any other
Confidential Information. Although additional Confidential Information, which may include engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers and environmental experts. Neither Cushman & Wakefield nor Managing Member guarantees the accuracy or completeness of the information contained in this Memorandum or any other Confidential Information provided by Cushman & Wakefield and Managing Member. Managing Member expressly reserves the right, at its sole discretion, to reject any offer to invest in the Project or to terminate any negotiations with any party at any time with or without written notice. Managing Member shall have no legal commitment or obligations to any prospective investor unless and until a written sale agreement has been fully executed, delivered and approved by Managing Member and any conditions to Managing Member’s obligations thereunder have been satisfied or waived. Managing Member has retained Cushman & Wakefield as its exclusive broker and will be responsible for any commission due to Cushman & Wakefield in connection with a transaction relating to the Project pursuant to a separate agreement. Cushman & Wakefield is not authorized to make any representation or agreement on behalf of Managing Member. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with an investment in the Project if such claims arise from acts of such prospective investor or its broker. This Memorandum is the property of Managing Member and all parties approved by Managing Member and may be used only by parties approved by Managing Member. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement.
CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI2
Executive Summary . . . .04
Property Summary . . . . .07
Market Overview . . . . . . .12
Financial Analysis . . . . . . .15
01020304
TABLE OF CONTENTS
For more information, please contact:
JOSEPH LISINGCapital Markets - Retail+1 949 372 [email protected]. CA 01248258
CUSHMAN & WAKEFIELD-IRVINE18111 Von Karman Ave., Suite 1000Irvine, CA 92612
cushmanwakefield.com
3
EXECUTIVE SUMMARYRARE SOUTH ORANGE COUNTY INVESTMENT OPPORTUNITY IN AN AFFLUENT AREA
f Newly Renovated Montessori, Brand New 25 Year NNN Ground Lease
f The Subject Property is Adjacent to an Albertsons Anchored Center with Savon Drugs, US Bank, SuperCuts, Circle K, Subway and Many More
f Just Minutes from the Capistrano Valley Plaza Shopping Center Whose Tenants Include Costco, Smart & Final Extra!, PetsMart, Staples, Big 5 Sporting Goods and Many More
f Average Household Income is Well Above the National Average ($113,476 Within Five-Miles)
EXCEPTIONAL RETAIL LOCATION IN A RESORT TOWN
f Less than 2 Miles Away from Doheny State Beach Which Brings in Over 1.4 Million Visitors a Year
f Dana Point is Along the Main Route for California Travelers to/from San Diego & Mexico and is a Popular Stop on Interstate 5 (267,000+ VPD)
f Dana Hills High School is Located Just Blocks from the Subject Property (2,715+ Students)
f Subject Property is Located 1 Mile from the Dana Point Harbor is the $200 Million Revitalization Which Includes Two New Hotels (260+ Rooms) and a Parking Structure with Over 4,800 Spaces
f Dana Point is a Major Tourist Destination with Dozens of High-end Resorts, Such as the St. Regis, The Ritz Carlton, and Marriott Located Less than Two Miles Away is the Ohana Music Festival and the Doheny Blues Festival Which Bring in Thousands of Visitors Per Year
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CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI4
$113,476 AVERAGE HOUSEHOLD INCOME
EXECUTIVE SUMMARY 5
CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI6
PROPERTY SUMMARYPROPERTY HIGHLIGHTS
Type Single Tenant
Building Sq. Ft. 3,346 Sq. Ft.
Stories One (1)
Year Built 1968
Parking 15 Surface Spaces
Land Acres ±0.31 Acres
Approx. Land Sq. Ft. ±13,503 Sq. Ft.
Zoning Commercial
Parcel 673-185-12
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PROPERTY SUMMARY 7
SITE MAP
jThunderbird Park
Opportunities for Learning
Dana Point Montessori PreschoolStonehill Dr
Del
Obi
spo
St
Pal
o A
lto S
t
Perch Dr
Via
Len
ita
Ast
oria
St
tS r uS gi B
Eastwind Dr
Calle Jardin
Seaside Dr
Bre
mer
ton
St
Mainsail Dr
Cor
al R
each
St
White Sands St
Rusty Anchor St
Mar
ina
Vis
ta D
r
Bowsprit Dr
Goldenspring Dr
Blue Sail Dr
Ocean Hill Dr
Windham Dr
Val
ley
Vie
w C
t
Bayport W
ay
Tuna Dr
Leeward Dr
Bre
ezy
Pl
Via Lagos
Saltwater Dr
Ato
ll D
r
Starboard Dr
Ree
f Bay
Pl
Mes
a V
ista
Dr
Peq
uito
Dr
Irons
ides
Dr
Bridgehampton D
r
Rocky Beach Ln
Breakwater Dr
Cap
e B
ay P
lSte
rn W
ave
Pl
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Bridgewater Ln
Breezewood St
Sur
f Sho
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Mainsail Way
Sun
ridge
Dr
Sco
ttys
Cov
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rP
aseo
Mol
inos
Nan
cy J
ane
Ct
Sea Bright Dr
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fsid
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San
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each
Pl
Admiral Way
Big
Sur
St
Bre
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Ast
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St
CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI8
PROPERTY SUMMARY 9
CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI10
REGIONAL MAP
j
Monarch Beach Golf Links
DANA POINT
SAN JUAN CAPISTRANO
CAPISTRANO BEACH
§̈¦5
§̈¦5
Nigu
el R
d
Del O
bisp
o St
Selva Rd
Stonehill Dr
Golden Lantern S
tCam
ino
Capist
rano
Pacific Coast Hwy
Camino del Avion Golde
n La
nter
n
Dohe
ny P
ark
Rd
Camin
o de
Est
rella
Del Prado AveVictoria Blvd
Via Canon
tS nretnaL nedloGUV1
Alipaz
St
Beach Rd
La Cresta Dr
Dana Dr
La Novia Ave
Via
de A
gua
Old
Ran
ch R
d
Valle
Rd
Calle Abril
Via Cali
forn
ia
Mar
bella
Camino las Ramblas
San Juan Creek R
d
Calle Mayo
Pal
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lto S
t
Via Verde
Niguel
Shore
s Dr
Dana Point Harbor Dr
Calle Portola
Calle
Rea
l
Calle Juno
Via
La J
olla
Via del Rey
Connemara Dr
Selva Rd
Calle Aspero
tS nret naL t el oi V
Via Positiva
Cerro Rebal
Santa Clara Ave
Acapulco Dr
Via C
apri
Pas
eo A
dela
nto
Sea Bright Dr
Camino del Avion
evA atsi V al uhC
Avenida Calita
Park Rd
Cam
ino Capistrano
Camino Mira Costa
Cal
le M
iram
ar
Shor
elin
e D
r
Beach Rd
Pacific Ocean
PROPERTY SUMMARY 11
03MARKET OVERVIEWDANA POINT, CALIFORNIA
Dana Point is a city located in Southern Orange County, California. The population was 33,351 at the 2010 census. It has one of the few harbors along the Orange County coast, and with ready access via State Route 1, it is a popular local destination for surfing. Dana Point is home to 35,110 residents and is characterized by nearly seven miles of prominent coastal bluffs and rolling hills along the Pacific Ocean.
Dana Point Harbor provides slips and mooring for over 2,500 boats along with over 50 specialty shops and restaurants. The Harbor attracts thousands of visitors annually for shopping, sport fishing, walking, bicycling, parasailing and a host of recreational activities. The Dana Point Harbor is also considered the gateway to Doheny State Park, one of California’s most popular beach facilities.
DANA POINT REVITALIZATION PROJECT
Dana Point Harbor Partners, LLC is planning to construct two hotels, a 136-room affordable hotel and a 130-room boutique hotel. The develop-ment program proposes a total of 4,880 parking spaces for the hotel and the commercial core, including existing parking plus 2,503 new parking spaces. DPHP is requesting a subsidy of up to $20 million from the County’s harbor reserve to construct the commercial two- or three-level core parking struc-ture and the hotel podium parking structure.
DANA POINT REVITALIZATION PROJECT
CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI12
DEMOGRAPHICS
1 Mile 3 Mile 5 MileOrange County
Households
2020 Total Population 16,132 80,411 156,564 3,206,833
2025 Population 16,145 80,735 157,992 3,328,956
Pop Growth 2020-2025 0.08% 0.40% 0.91% 3.67%
Average Age 42.40 43.30 42.50 38.1
Households
2020 Total Households 6,447 31,113 58,370 1,078,321
HH Growth 2020-2025 0.09% 0.36% 0.79% 4.40%
Median Household Inc $89,772 $105,459 $113,476 $87,262
Avg Household Size 2.50 2.50 2.60 3
2020 Avg. HH Vehicles 2.00 2.00 2.00 2
Housing
Median Home Value $794,848 $905,295 $916,455 $765,497
Median Year Built 1976 1980 1982 1972
Dana Point, CA
MARKET OVERVIEW 13
CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI14
04FINANCIAL ANALYSIS
OFFERING SUMMARY
Property Name Dana Point Montessori
Property Address33501 Del Obispo St., Dana Point, CA 92629
Assessor’s Parcel Number 673-185-12
Current Occupancy 100%
Year Built 1968
Year Renovated 2020
Gross Leasable Area (GLA) ±3,346 Square Feet
Lot Size ±0.31 (±13,503 Square Feet)
PRICING
Price $2,300,000
Cap Rate 4.63%
NOI $106,656
Price Per Square Foot $687.38
LEASE SUMMARY
Tenant Dana Point Montessori
Lease Type NNN
Lease Guarantor Personal Guarantee
Roof & Structure Tenant Responsibility
Original Lease Term 25 Years
Lease Commencement 3/14/2020
Lease Expiration 2/28/2045
Current Annual Rent $106,656
Rental Increases 2% Every Two Years
Options to Renew Four 5-Year Options
Right of First Refusal Yes; 14 Days
FINANCIAL ANALYSIS 15
CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI16
FINANCIAL ANALYSIS 17
DANA POINT MONTESSORI3 3 5 0 1 D E L O B I S P O S T . / D A N A P O I N T , C A 9 2 6 2 9
For more information, please contact:
JOSEPH LISINGCapital Markets - Retail+1 949 372 [email protected]. CA 01248258
CUSHMAN & WAKEFIELD-IRVINE18111 Von Karman Ave., Suite 1000Irvine, CA 92612
cushmanwakefield.com
View Site Specific COVID-19 Prevention Plan
©2020 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE.