OeFle Buld Iese - LoopNetimages3.loopnet.com/d2/4OnGeKpG3NM2-f7KAXgz2FUo4... · Unit A2 1,500± sf:...

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Kevin Doran, Partner 1355 N Dutton Ave., Santa Rosa, CA 95401 (707) 528-1400 ● Fax: (707) 524-1410 Lic #: 01704987 [email protected] The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein. Office/Flex Building Investment 150-170 Professional Center Drive | Rohnert Park | CA Fully Leased - 5.75% CAP

Transcript of OeFle Buld Iese - LoopNetimages3.loopnet.com/d2/4OnGeKpG3NM2-f7KAXgz2FUo4... · Unit A2 1,500± sf:...

Kevin Doran, Partner 1355 N Dutton Ave., Santa Rosa, CA 95401

(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

Fully Leased - 5.75% CAP

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

EXECUTIVE SUMMARY Keegan & Coppin is pleased to present the opportunity to acquire a premiere industrial/office/flex project in Rohnert Park, Sonoma County. This 38,540± gross square foot multi-tenant industrial/office/flex investment opportunity is strategically located in the Central Rohnert Park corridor. The property is leased to multiple professional businesses. This property currently has thirteen (13) units totaling 38,540± rentable square feet. The building is comprised of office/warehouse space with suites ranging in sizes from 2,000± rsf - 7,000± rsf. The ceilings are 24 feet clear height, which allows total flexibility for tenants.The building was built in 1986 and is professionally maintained and in excellent condition. This 2.97± acre (129,373± sf) lot is zoned Industrial/Office overlay. Overall the building, parking lot and landscaping is very well kept and professionally managed.

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

KEY FACTSLocation: Rohnert Park, CA - Sonoma County

Building Square Feet: 38,540± sf - Single-Story Bldg.

Site Size: 1.5± Acres

Current Occupancy: 100% (Multi-Tenant - Thirteen units ranging from 2,000-6,500± sf)

Lease Expiration: Various

Asking Price: $5,395,000

Price per Sq. Ft.: $140

Cap Rate: 5.75%

Zoning: I-L/O - Industrial/Office Overlay

Fountain: Concrete

Exterior Walls: Concrete

Roofing: Mineral Cap Sheet

Fire/Life/Safety Specs: Fire Sprinklers with Monitoring System

Telephone/ISP Service Sonic, AT&T

HVAC System: 12 Units - Dual Packed HVAC Mounted on Roof

Year of Construction: 1986

Parcel Map: 143-021-061

Vicinity Map

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

PROPERTY INFORMATION ANNUAL OPERATING DATA Proforma

Type $525,499Number of Units

+$8,446

Total Square Footage

-$15,765

Price Annual Adjusted Income $518,180

Price/psf - Less Expenses $180,886

Location Annual NOI $337,295

Site - Less Annual Debt Service $269,914

Zoning

Description

6.25% 5.00%

LOAN ASSUMPTIONS ANNUAL EXPENSESDown Payment $1,348,900 Real Estate Taxes $67,445

Water/Sewer $11,396Loan Amount $4,046,700 PG&E $25,256

Building Expenses $76,789Interest Rate 4.50%

Amortization (Yrs) 25

Annual Debt Service $269,914 Total Expenses $180,886

Annual Cash Flow

CAP Rate

Premiere office flex project in Rohnert Park, Sonoma County. Strategically located in the central Rohnert Park corridor, Consists of office/warehouse space with suites ranging in sizes from 2000-6500 rsf. Overall the building, Parking lot, and landscaping is very well kept and professionally managed.

Cash on Cash %

IL (Light Industrial)

Scheduled Gross Income Office/Industrial Flex

12

38,540

$5,395,600

$67,380

2.97 Acres

PlusReimbursements

Less Vacancy & Credit Allowance

150-170 Professional Center Drive, Rohnert Park, CA 94928

$140

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

BLDG TENANT AREA SF

RENT PSF

MONTHLY RENT

TYPE OF

LEASERENT INCREASES LEASE

TERMEXTENSION

OPTIONS

UTILITIES PAID BY

LANDLORD

UTILITIES PAID BY TENANT

150 Allstate Insurance 1,500 $1.59 $2,385 Full Service

CPI, 3% cap 2 years 6 mos (1) 5 year Water/Garbage, PG&E

None

150 Pathways Charter School

8,509 $1.08 $9,214 Gross 3% 4 yrs 10 mos (1) 5 year Water /Garbage PG&E, CAM for water & garbage

150 Sonoma State 3,003 $1.30 $3,903 Full Service

Flat 2 years 6 mos (1) 3 year Water/Garbage, PG&E

None

150 Wholesale Florist 6,500 $1.07 $6,930 Gross 3% 5 years (1) 5 year Water/Garbage PG&E, CAM for water & garbage

150 Northern Drywall Corp.

2,448 $1.14 $2,800 Gross $3,000 start July 2018 $3,200 start July 2019

2 yrs 10 mos (1) 3 year Water/Garbage PG&E

170 Infusource Pharmacy

4,255 $1.42 $6,042 Gross 3% 4 yrs 8 mos N/A Water/Garbage PG&E

170 Intelligent Copier Solutions

3,400 $0.82 $2,800 Gross $3,000 start Nov 2018 $3,200 start Nov 2019

3 years N/A Water/Garbage PG&E

170 Family Nuts 3,000 $0.77 $2,310 Gross $2,550 start Jan. 2018 $2,700 start Jan. 2019 $2,900 start Jan. 2020

2 yrs 6 mos (1) 5 year Water/Garbage PG&E

170 Ortega Construction 3,480 $0.86 $3,000 Gross TBD Mo - Mo N/A Water/Garbage PG&E170 KOR Commercial 1,235 $1.21 $1,500 Gross TBD Rent

GuaranteeRent Guarantee(for 6 mos after COE)

Water/Garbage PG&E

170 Tony Young Sheet Metal

1,170 $1.37 $1,600 Gross 3% Mo. To Mo. N/A Water/Garbage PG&E

38,500 $42,484

RENT ROLL

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein. Keegan & Coppin Company, Inc. 2015.

Unit A1 2,488± sf Northern Drywall Corp. Unit A4 3,003± sf Sonoma StateUnit A2 1,500± sf Allstate Insurance

Unit A5 8,509± sf Charter SchoolUnit A3 6,500± sf Wholesale Florist

150 FLOOR PLAN

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Unit A1 1,170± sf Tony Young Sheet Metal Unit A4 4,255± sf InfusourceUnit A2 3,400± sf Intelligent Copier Solutions Unit A5 3,000± sf Family NutsUnit A3 1,235± sf KOR Commercial Unit A6 3,480± sf Ortega Construction

A1A1

A2

A3

A4

A5A6

170 FLOOR PLAN

Lot Line Adjustment Map

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

1. 2 Separate APNs will be completed

2. There is a reciprocal parking agreement

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Front of Building - Facing South Front of Building - Facing North

Back of Building - Facing South

Incubator Unit

Back of Building - Facing North End-Cap Office Unit

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

LOCATION 150 Professional Center Drive is located in Rohnert Park, California, one of the largest economic hubs of Sonoma County, California. This strategic location, just off the intersection of Rohnert Park Expressway and Highway 101, is approximately 1 hour north of the Golden Gate Bridge and offers convenient access to San Francisco, the East Bay, and other points within the Bay Area. The City of Rohnert Park is located in the Santa Rosa valley roughly 50 miles north of San Francisco along Highway 101 in the southern part of Sonoma County. ROHNERT PARKWith the anticipated commuter rail that will have stops in Rohnert Park, coupled with efforts to develop a central district that includes the vacated State Farm complex, the incentives for businesses moving into the area are becoming increasingly desirable.The opening of Graton Casino in Rohnert Park has brought great new excitement to the area. Graton Resort & Casino has a commanding presence amongst rolling hills of Northern California’s wine country. Owned and operated by the Federated Indians of Graton Rancheria, Graton Resort & Casino is the complete entertainment experience, featuring table games, the latest slot machines, upscale and casual dining, plus entertainment options for visitors and locals alike.The subject property is located 1.7 miles from Graton Resort & Casino that recently opened its doors on November 5, 2013. The $800 million 340,000-square foot casino is the most expensive private development project in Sonoma County history and is one of the largest casinos in the state of California.

Sonoma State University (SSU) is located east of the subject property with direct access from Rohnert Park Expressway. The university is comprised of six schools and offers degrees in 46 majors and 47 minors at the bachelor’s level and 15 at the master’s level. Sonoma State is a mid-size campus with 9,120 students and located on 269± acres. With 34% of the student body living on campus, SSU is one of the most residential campuses within the California State University system. The site boasts strong demographics with over 59,125 residents within a three-mile radius with an average household income of $71,355. The population has increased by 1.66% since 2000 and is estimated to increase by 3.65% over the next five years.With the array of options and positive outlook for the future, Rohnert Park is an excellent location to consider.SONOMA COUNTYSonoma County is the premier location for R&D, professional services and entrepreneurial businesses. Today, the County is a magnet for all local industries, including government, winemaking, healthcare, engineering, biotechnology, financial services, education, tourism, state, county and local government offices. With easily accessible, high-quality office buildings at attractive rental rates, Rohnert Park is positioned to attract value-conscious tenants who are increasingly seeking high-value occupancy alternatives in the expensive Bay Area real estate market. This demand will help tighten the Sonoma County office market.

Office/Flex Building Investment150-170 Professional Center Drive | Rohnert Park | CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

DISCLAIMER

This property is being offered on an as-is basis. While the Broker believes the information in this brochure to be accurate, no warranty or representation is made as to its accuracy or completeness. Interested parties should conduct independent investigations and reach conclusions without reliance on materials contained in this brochure.This property owner requests that you do not disturb the Tenants, as the property will only be shown in coordination with the Listing Agent.This brochure is presented under the terms and conditions of the Confidentiality Agreement. As such, the material contained in this brochure is confidential and is provided solely for the purpose of considering the purchase of the property described herein. Offers should be presented to the agent for the property owner, Kevin Doran of Keegan & Coppin Company, Inc. Prospective buyers are encouraged to provide buyer’s background, source of funds and any other information that would indicate their ability to complete the transaction smoothly.

Contact Information

Kevin Doran Partner

BRE #01704987(707) 528-1400 ext. 270

Email: [email protected]