SINGLE TENANT 20 YEAR NET LEASED PROPERTY FOR SALE · land with a ±850 square foot single tenant...

OFFERING MEMORANDUM

1730 PACIF IC COAST H IGHWAY, LOMITA, CA 90717

SINGLE TENANT 20 YEAR NET LEASED PROPERTY FOR SALE

EXCLUSIVELY MARKETED BY

MICHAEL GRANNISLic. 01393628Phone: 310-379-2228 ex [email protected]

BRENT CUNNINGHAM Lic. 01203913 Phone: 310-379-2228 ex 1 [email protected]

2200 Pacific Coast Highway, Suite 316Hermosa Beach, CA 90254

© 2017 | Highland Partners Corp. | The information being provided by Highland Partners Corp. and/or its sources is deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. Any information, measurements, facts and actual drawings shown are approximate, subject to change, or withdrawal without notice and should be independently verified by you and may not be relied upon as a precise representation by this office. No warranties or representations are made as to the condition of the property or any hazards contained therein nor any to be implied.


MICHAEL GRANNISLic. 01393628

Phone: 310-379-2228 ex 2

[email protected]

BRENT CUNNINGHAM

Lic. 01203913

Phone: 310-379-2228 ex 1

[email protected]

HIGHLAND PARTNERS CORP.2200 Pacific Coast Highway, Suite 316

Hermosa Beach, CA 90254

TABLE OF CONTENTS

SITE OVERVIEW 2

RENT ROLL 3

RENDERINGS 4

TENANT SUMMARY 5

RETAIL MAP 6

SOUTH BAY MARKET OVERVIEW 8

REGIONAL MAP 9

DEMOGRAPHICS 10

|

1730 PACIFIC COAST HIGHWAY, LOMITA, CA 90717OFFERING MEMORANDUM

SITE OVERVIEW

• Brand New Freestanding Starbucks Drive Thru

• High Traffic Location in a Dense Trade Area

• Located along major retail corridor at Pacific Coast Highway & Western Ave

• Population within 3 miles is over 200,000 people

• Average Annual Household income of over $90,000 per year within 3 miles

• High Traffic Counts of over 61,000 Cars Per Day on Pacific Coast Highway at Western Avenue

• High daytime population of 76,519 employees within a three mile radius

Highland Partners Corp., as exclusive listing broker, is pleased to offer for sale a NNN leased

asset located at 1730 Pacific Coast Highway, Lomita, CA. The property is 15,560 square feet of

land with a ±850 square foot single tenant building currently leased to Starbucks Corporation.

The subject property is located along Pacific Coast Highway which is the main retail corridor

in the trade area. The property has a new 20-year lease with Starbucks Corporation with a

projected annual rent of *$117,000 per year.

Property Highlights

Price $3,120,000 (3.75% CAP)

Address 1730 Pacific Coast Highway Lomita, CA 90717

Total Building Area ±850 SF

Total Land Area ±15,560 SF

Tenant Starbucks Corporation

Term 20 years

*Annual Rent $117,000.00

Rental Increase 10% in year 11 and every five years thereafter

Option Term Three, five- year extensions

Lease Type NNN

*Billboard income: $21,000/year (see rent roll)

|


TENANT SIZE RENT PSF ANNUAL RENT LEASE START EXPIRATION OPTION NEXT INCREASEStarbucks 850 SF $9.41 $96,000.00 *April-2017 March-2037 Three-5 year April-2027Regency Outdoor Advertising(Billboard) n/a n/a $21,000.00 Jun-2016 May-2031 Two-5 year June-2026TOTAL 850 SF $117,000.00

*Exact Rent Start Date To Be Determined. Seller to credit any shortfall at Close of Escrow.

RENT ROLL

|


RENDERINGS

West Elevation

East Elevation

North Elevation South Elevation

PACIFIC COAST HIGHWAY

258th Place

City of Los Angeles

BILLBOARD

City of Lomita

FS

058±

3'-6

"

2'-1

0"

5"

4'-0

"

11'-6"5"

11'-0

"

11'-0

"

3'-6

"

5"

3'-6

"

11'-0

"

11'-0

"

3'-6

"

6'-0

"SCALE: 1/4" = 1'-0"1 NORTH ELEVATION

SCALE: 1/4" = 1'-0"2 SOUTH ELEVATION

SCALE: 1/4" = 1'-0"3 WEST ELEVATION

SCALE: 1/4" = 1'-0"4 EAST ELEVATION

3'-6

"

2'-1

0"

5"

4'-0

"

11'-6"5"

11'-0

"

11'-0

"

3'-6

"

5"

3'-6

"

11'-0

"

11'-0

"

3'-6

"

6'-0

"

SCALE: 1/4" = 1'-0"1 NORTH ELEVATION




3'-6

"

2'-1

0"

5"

4'-0

"

11'-6"5"

11'-0

"

11'-0

"

3'-6

"

5"

3'-6

"

11'-0

"

11'-0

"

3'-6

"

6'-0

"





3'-6

"

2'-1

0"

5"

4'-0

"

11'-6"5"

11'-0

"

11'-0

"

3'-6

"

5"

3'-6

"

11'-0

"

11'-0

"

3'-6

"

6'-0

"





|


TENANT SUMMARY

Starbucks Corporation (NASDAQ: SBUX)

World’s Largest Coffeehouse Company

Employs over 300,000 People

S&P Rating: A-

Starbucks Corporation is an international coffee and coffeehouse chain based in Seattle,

Washington. Starbucks sells drip brewed coffee, espresso-based drinks, snacks and bakery

items.

As of March 23, 2016 there were 23,158 stores in 70 countries including 14,974 in the

Americas, 5,743 in China/Asia Pacific, and 2,441 in Europe, Middle East and Africa.

In fiscal year 2015, the company reported net revenues of almost $19.2 billion and net

earnings of $2.76 billion.

|


SUBJECT PROPERTY

RETAIL MAP

|


SUBJECT PROPERTY

Rolling Hills Estates

Rolling Hills Country Club Expansion

114 New Golf Front Homes

RETAIL MAP

|


SOUTH BAY MARKET OVERVIEWThe property is in the City of Lomita which is located in the South Bay region of Los Angeles County. The City benefits from a population base

of approximately 20,000 people in a small 1.9 square mile area. The city borders Torrance to the north and west, Harbor City to the East and

the affluent Palos Verdes Peninsula to the south. Lomita is home to a number of national retailers and has a growing population base with a

tremendous increase in property values over the last decade. Pacific Coast Highway is the main thoroughfare connecting the South Bay from

the Beach Cities to the 110 Freeway. Western Ave is a major north/south thoroughfare that connects residents from neighboring Rolling Hills

and Palos Verdes. The property boasts tremendous visibility from all traffic directions and shares the intersection with many national retailers

including McDonald’s, Jack in the Box and Carl’s Jr.

|


Beverly Hills

Culver City

Torrance

Inglewood

Lennox

Hawthorne

Gardena Compton Paramount

Lakewood

Carson

Long Beach

Seal Beach

Newport Beach

Laguna Beach

Lomita

Lynwood Downey

Maywood

L O S A N G E L E SL O S A N G E L E S

Norwalk

Cypress Stanton

Garden Grove

Fullerton Placentia

Anaheim

Yorba Linda

Tustin

Irvine

Laguna Hills

San Juan Capistrano

San Clemente

Fallbrook

Lake Elsinore

Corona

Norco

Chino

Pomona Ontario

Riverside

Fontana

Glendora Pasadena

Burbank

San Fernando

Glendale

Santa Clarita

Simi Valley Moorpark

Thousand Oaks

Oxnard

Agoura Hills

Dana Piont

Orange

Costa Mesa

Huntington Beach

West Hollywood

PACIFIC OCEAN

PACIFIC OCEAN

SantaMonica

Bay

SanPedro

Bay

LosAngelesHarbor

PalosVerdes

Point

Gu l f o f Santa Cato l ina

Fallbrook Community

Airport

Corona Municipal

Airport

John Wayne Airport

Riverside Municipal

Airport

Chino Airport

Rialto Municipal/ Miro Field

Los AngelesInternational Airport

Camarillo Airport

10

15

15

15

215

215

10

110

210

605

710

105

405

405

405

5

5

55

261

57

22

60

134

2

14

170

23

101

27

1

1

1

73

241

91

60

71 83

91

19

19

213

30

66

1730 Pacific Coast Highway

FountainValley

REGIONAL MAP

|


2016 Demographics1-Mile 3-Mile 5Mile

PopulationEstimated Population (2016) 35,226 204,416 441,323

Projected Population (2021) 36,341 210,724 455,404

Census Population (2010) 34,173 199,060 427,003

Census Population (2000) 33,597 192,598 413,003

Projected Annual Growth (2016-2021) 1,115 0.6% 6,308 0.6% 14,081 0.6%

Historical Annual Growth (2010-2016) 1,053 0.5% 5,355 0.4% 14,320 0.6%

Historical Annual Growth (2000-2010) 575 0.2% 6,463 0.3% 13,473 0.3%

Estimated Population Density (2016) Trade Area Size 11,222 psm 7,233 5,621 5,475 psm

Trade Area Size 3.1 sq mi 28.3 sq mi 78.5 sq mi

HouseholdsEstimated Households (2016) 12,765 67,966 153,246

Projected Households (2021) 13,351 70,953 160,120

Census Households (2010) 12,282 65,620 146,892

Census Households (2000) 12,124 63,946 143,083

Projected Annual Growth (2016-2021) 585 0.9% 2,987 0.9% 6,873 0.9%

Historical Annual Change (2000-2016) 641 0.3% 4,020 0.4% 10,163 0.4%

AgeMedian Age 36.4 37.9 39.1

DEMOGRAPHICS

|


1-Mile 3-Mile 5MileAverage Household IncomeEstimated Average Household Income (2016) $72,209 $90,411 $97,300

Projected Average Household Income (2021) $83,527 $106,335 $115,642

Census Average Household Income (2010) $67,265 $79,149 $84,615

Census Average Household Income (2000) $52,540 $64,852 $69,213

Projected Annual Change (2016-2021) $11,317 3.1% $15,924 3.5% $18,343 3.8%

Historical Annual Change (2000-2016) $19,670 2.3% $25,559 2.5% $28,087 2.5%

Daytime Demographics (2016)Total Businesses 1,317 8,320 20,380

Total Employees 8,758 76,519 215,801

Company Headquarter Businesses 1 35 129

Company Headquarter Employees 4 6,667 22,896

Employee Population per Business 6.7 to 1 9.2 to 1 10.6 to 1

Residential Population per Business 26.8 to 1 24.6 to 1 21.7 to 1

Adj. Daytime Demographics Age 16 Years or Over 18,622 138,562 353,600

Demographic Source: Applied Geographic Solutions 10/2016, TIGER Geography

DEMOGRAPHICS

OFFERING MEMORANDUM

1730 PACIFIC COAST HIGHWAY, LOMITA, CA 90717

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express

further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of

the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of

the information which prospective investors may require to evaluate a purchase of real property. All financial projections and

information are provided for general reference purposes only and are based on assumptions relating to the general economy,

market conditions, competition and other factors beyond the control of the Owner and Highland Partners Corp. Therefore, all

projections, assumptions and other information provided and made herein are subject to material variation. All references to

acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect

the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents,

including leases and other materials, are described in summary form. These summaries do not purport to be complete nor

necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries

and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or Highland Partners Corp, nor any of their respective directors, officers, Affiliates or representatives make any

representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents,

and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you

are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase

the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of

review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum

or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been

fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied

or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will

hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other

entity without the prior written authorization of the Owner or Highland Partners Corp. You also agree that you will not use this

Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Highland Partners Corp.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to

Highland Partners Corp.

CONFIDENTIALITY AGREEMENT | PAGE 12


MICHAEL GRANNISLic. 01393628

Phone: 310-379-2228 ex 2

[email protected]

BRENT CUNNINGHAM

Lic. 01203913

Phone: 310-379-2228 ex 1

[email protected]

HIGHLAND PARTNERS CORP.2200 Pacific Coast Highway, Suite 316

Hermosa Beach, CA 90254

SINGLE TENANT 20 YEAR NET LEASED PROPERTY FOR SALE · land with a ±850 square foot single tenant...

Documents

Transcript of SINGLE TENANT 20 YEAR NET LEASED PROPERTY FOR SALE · land with a ±850 square foot single tenant...