Giant RV | Single Tenant | $12,500,000 11111 …11111 Florence Ave | Downey, CA 3 EXECUTIVE SUMMARY...

11111 Florence Ave | Downey, CA

111111 FLORENCE AVE

DOWNEY, CA 90241Giant RV | Single Tenant | $12,500,000

Phil SeymourDRE #00630158

[email protected]

www.TheSeymourGroup.net


2DISCLAIMER

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due dili-gence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or rel-evance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental lim-itations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal ques-tions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appro-priate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW Commercial in compliance with all applicable fair housing anvd equal opportunity laws. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or with-drawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.


3EXECUTIVE SUMMARY

LEASE SYNOPSIS

SUMMARY

Improvement ($110.96/SF) 112,650 SF

Lot Size 9.72 Acres / 423,055 SF

Lot $/SF $29.55/SF

Zoning SP90-1

Use Recreation Vehicle Sales

APN 8019-033-025

Parking 580

Year Built 1970 (renovated 2017)

Structure Concrete Tilt Up

Office 3,800 SF

Balance Showroom & Service / Warehouse & Inventory

• Triple Net Lease / Under Market / 5.4% CAP Rate (Landlord responsible for roof and structure)

• Term: 15 Years with One 5-Year Option at market rate with yearly increase

• Start Date: May 17, 2017

• Expiration: May 17, 2032

• Rent: $56,250/month or $675,000/annually Rent increase annually, starting May 17, 2020 *2% Floor & 7.5% Ceiling (C.P.I. LA, Long Beach)

• Giant RV (single tenant)• Four locations

(Downey, Colton, Montclair, and Murrieta)• Over 40 acres of inventory• One of Top 50 RV Dealers in the Nation• Sales and full range of parts and service• Over 33 years in business• Privately held• Spent approximately $1,000,000

in tenant improvements

• Thirteen new HVAC units• Sprinkler system• 3 phase electrical• Carpet and tile flooring• Two sets of restrooms• Showroom has 3 roll-ups and shop has 8 bay doors

Sale subject to court confirmation.Call agent for details.

Phil SeymourDRE #00630158

[email protected]


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5EXTERIOR PHOTOS


6


7INTERIOR PHOTOS


8INTERIOR PHOTOS


9


10INTERIOR PHOTOS


11AERIAL PHOTOS

Subject Property


12AERIAL PHOTOS

Subject Property


14

Peer Properties Summary11111 Florence Ave

17 $1.98 - 0%No. Peers NNN Market Rent/SF Availability Rate Vacancy Rate

PEER LOCATIONS

5/1/2020Copyrighted report licensed to KW Commercial - 1612

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PEER LOCATIONS


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PEER LOCATIONS


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PEER LOCATIONS


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PEER LOCATIONS


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PEER LOCATIONS


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RENT COMPARABLES

RENTCOMPARABLESSUMMARY

Number of Comparables


15

85,000 SF / Vacancy Rate 0%

Owner: Northwood Investors LLCRent/SF - $2.00 - $2.50 (Est.)

8810 Apollo Way3


Owner: Walmart, Inc.Rent/SF - $2.00 - $2.50 (Est.)

9001 Apollo St2

12545 Imperial Hwy50,000 SF / Vacancy Rate 0%

Owner: HPCRent/SF - $2.60 - $3.10 (Est.)

LA Fitness1

13310 Telegraph Rd140,546 SF / Vacancy Rate 0%


Walmart6


Owner: Margaret Wang Revocable D…Rent/SF - $1.90 - $2.30 (Est.)

Walmart Supercenter5

14501 Lakewood Blvd109,703 SF / Vacancy Rate 0%


Wal-Mart4

5871 Firestone Blvd107,184 SF / Vacancy Rate 0%


Sam's Club9


Owner: Norwalk La Mirada Unified S…Rent/SF - $1.90 - $2.30 (Est.)

12324 Hoxie Ave8


Owner: Northgate Real Estate, LLCRent/SF - $1.90 - $2.30 (Est.)

11660 Firestone Blvd7

Peer Property Photos11111 Florence Ave


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8810 Apollo Way3



9001 Apollo St2



LA Fitness1



Walmart6






Wal-Mart4



Sam's Club9



12324 Hoxie Ave8






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9100 Whittier Blvd57,078 SF / Vacancy Rate 0%

Owner: Kirk S & Laurie EvansRent/SF - $1.80 - $2.20 (Est.)

Whittier Blvd Shopping Ctr12

8600 Washington Blvd137,094 SF / Vacancy Rate 0%

Owner: Lowe’s Companies, Inc.Rent/SF - $1.80 - $2.20 (Est.)

Lowe's11


Owner: Lawrence W. AndrewsRent/SF - $1.90 - $2.30 (Est.)



Owner: Costco Wholesale CorporationRent/SF - $1.40 - $1.70 (Est.)

6333 Telegraph Rd15

14873 Carmenita Rd172,515 SF / Vacancy Rate 0%


Lowe's14


Owner: Jill E SapersteinRent/SF - $1.80 - $2.20 (Est.)

Whittier Gateway13


Owner: Murata, MarcRent/SF - $1.00 - $1.30 (Est.)

Subject Property

11111 Florence Ave

12624 Rosecrans Ave50,276 SF / Vacancy Rate 0%

Owner: Sunbelt Rentals, Inc.Rent/SF - $1.10 - $1.40 (Est.)

Sunbelt Rentals17

7001-7015 Telegraph Rd65,300 SF / Vacancy Rate 0%

Owner: Sbicca Lido PipeRent/SF - $1.40 - $1.70 (Est.)

THE HOME DEPOT16



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Lowe's11






6333 Telegraph Rd15



Lowe's14



Whittier Gateway13



Subject Property

11111 Florence Ave



Sunbelt Rentals17



THE HOME DEPOT16



Page 17






Lowe's11






6333 Telegraph Rd15



Lowe's14



Whittier Gateway13



Subject Property

11111 Florence Ave



Sunbelt Rentals17



THE HOME DEPOT16



Page 17



8810 Apollo Way3



9001 Apollo St2



LA Fitness1



Walmart6






Wal-Mart4



Sam's Club9



12324 Hoxie Ave8






Page 16

RENT COMPARABLES

112,650 SF$0.50

David Weinberger818.970.0915

[email protected] DRE #01349349

Phil Seymour310.612.9800

[email protected] #00630158

www.TheSeymourGroup.net

DRE #01428774

11111 FLORENCE AVEDOWNEY, CA 90241

Giant RV | Single Tenant | $12,500,000 11111 …11111 Florence Ave | Downey, CA 3 EXECUTIVE SUMMARY...

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Transcript of Giant RV | Single Tenant | $12,500,000 11111 …11111 Florence Ave | Downey, CA 3 EXECUTIVE SUMMARY...