RECENTLY SIGNED LEASES – NOW AVAILABLE FOR PURCHASE …

RECENTLY SIGNED LEASES ? NOW AVAILABLE FOR PURCHASE

100% Leased-Two Credit Tenants

FREEWAY VISIBLE RETAIL CENTER, FAIRFIELD, CA

D, CA

Sale Price: $7,631,357

John Cumbelich

john@ t. 925.935.5400 ext. 101 CA-DRE Lic #01006249

Chris Micco

chris@ t. 925.935.5400 ext. 107 CA-DRE Lic #01393600

John Cumbelich & Associates

1330 N Broadway, Suite 200A Walnut Creek, CA 94596 t. 925.935.5400 f. 925.940.9583

1250 Oliver Road is a handsome 20,390 SF retail building with outstanding I-80 frontage and visibility in Fairfield, CA. The property features a prominent freeway pylon sign. Located at the West Texas Street off ramp to I-80, the site enjoys traffic counts of 169,000 ADT. Leased to Staples through January 2026, and Kelly-Moore Paints through April 2024, the multi-tenant subject building is an excellent investment opportunity for purchasers seeking high-identity, credit-tenant anchored regional real estate for their portfolios.

Best in class retail brands including Petco, Peets Coffee, In N Out Burger and Raley's are all located within one block of the subject. Additionally the site is just across I-80 from the Westfield Solano Mall. This powerful regional draw includes major anchors Macy's, Best Buy, JC Penney, Edwards Cinema, Old Navy and 24-Hour Fitness, plus numerous retail and restaurant brands.

Pylon Sign

Investment Summary

Developed in 2008, 1250 Oliver Road in Fairfield is coming to market for the first time as an investment opportunity.

Currently leased to Staples (13,590 SF) through January 2026, and Kelly-Moore Paints (6,800 SF) through April 2024. The subject building is 20,390 SF in size and shares a parking lot and pylon sign with a multi-tenant building leased to a Starbucks drive thru and Leslie's Pools Supplies (separately owned).

Location Highlights

100% leased to two credit tenants.

The subject building shares a parking lot and pylon sign with a multi-tenant building leased to a Starbucks drive thru and Leslie's Pools Supplies.

The building offers signage on three sides, and is demised into a multi-tenant building. The generous site area surrounding the building has the ability to accommodate additional parking spaces and the creation of a drive thru, subject to city approvals. The site features a single full sized loading dock, handicap parking and trash enclosure.

An iconic location directly fronting on I-80 affords the building outstanding freeway identity.

The building boasts ceiling heights of 17' and an open floor plan.

An iconic location directly fronting on I-80 affords the building outstanding freeway identity, punctuated by massive 48" lettering on three project signs. The building boasts ceiling heights of 17' and an open floor plan.

80

VIew of Site from I-80

PROPERTY INFORMATION

Location

1250 Oliver Road, Fairfield, CA

Year Built

2008

Assessor's Parcel No.

0150-160-290-01

Rentable Square Feet 20,390

Ceiling Height

17'

Restrooms

Four (4)

Site Area

94,525 SF (2.17 Acres)

Number of Buildings

One (1)

Occupancy

Shared

Parking

103 Parking Stalls

Zoning

CR (General Retail Commercial)

DEMOGRAPHICS

Total Population Daytime Population Median HH Income No. of Households

1-MILE 12,233 6,744 $61,345 4,008

3-MILE 74,944 31,036 $63,238 24,859

5-MILE 117,706 38,544 $71,951 38,774

I-80 & Oliver Road Rare Freeway Visible Mid-Sized Box Opportunity

John Cumbelich & Associates

Tenant Summary

Staples |

Staples is the world's largest office products company and second largest internet retailer. For 30 years, Staples has served the needs of business customers and its vision is to provide every product businesses need to succeed. Through our world-class retail, online and delivery capabilities, Staples offers office supplies, technology products and services, facilities and break room supplies, furniture, copy and print services and a wide range of other product categories.

With thousands of associates worldwide dedicated to helping customers make more happen, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. The Staples Home Office is headquartered outside Boston in Framingham, Massachusetts.

More information about Staples (NASDAQ: SPLS) is available at media.

Square Feet Leased % of Building Lease Expiration Date Renewal Options Current Annual Rent: Years 1-5 Annual Rent: Years 6-10

13,590 67 1/31/2026 Two (2) Five-Year Options $312,570.00 $326,160.00

COMPANY FACTS & HIGHLIGHTS

Corporate Name Ownership Number of Stores Fiscal Year Ending Sales Revenue (TTM) EBITDA (TTM) Long Term Debt S&P Credit Rating Stock Price/Market Cap (as of 6/2/16)

Staples Framingham, Ma 1,871 January 30th 20.90B 1.35B 3.51B Baa2 $8.80/5.71B

I-80 & Oliver Road Rare Freeway Visible Mid-Sized Box Opportunity

John Cumbelich & Associates

Tenant Summary

Kelly-Moore Paints | kelly-

Kelly-Moore Paints has a mission to provide high quality, innovative products with exceptional service at a fair value.

In 1946, William H. Kelly and William E. Moore recognized the unique needs of professional painting contractors for top-quality paint products and knowledgeable, efficient service at a fair price. This philosophy has allowed Kelly-Moore to grow from a single manufacturing facility and store in San Carlos, California, to one of the largest employee-owned paint companies in the United States. Kelly-Moore is still recognized throughout the paint industry as providing consistently great paints, while innovating to the needs of the market, truly "The Painter's Paint Store!"

Square Feet Leased % of Building Lease Expiration Date Renewal Options Current Annual Rent: Years 1-7 Stores Throughout the Western United States

6,800 33 4/1/2024 Three (3) Five-Year Options $149,328 130 +

I-80 & Oliver Road Rare Freeway Visible Mid-Sized Box Opportunity

John Cumbelich & Associates

Financial Overview

SCHEDULE OF LEASES

Tenant Name

SF

Staples

13,590

Kelly-Moore Paints 6,800

Lease Start 1/30/2016 4/1/2017

Lease End 1/30/2026 4/1/2024

Options 2x5-year options 3x5-year options

Annual Rent $312,570 $149,328

% GLA 67% 33%

Price/SF/Year $23.00/SF/Year $21.96/SF/Year

OPERATING EXPENSES (2016 ACTUAL) Utilities- Water/Building Utilities - Water/Fire Utilities - Trash Utilities - Fire Line Landscape Maintenance Parking Lot Sweeping Steam Cleaning Pest Control Janitorial Maintenance & Supplies Fire Prevention Business License Lighting Inspections/Repairs Repairs - General Parking Lot Maintenance Roof Maintenance Utilities - Electric Utilities - Water/Landscape

Total

OPERATING EXPENSES (2016 ACTUAL) Insurance Property Taxes

$0 $450.00 $16,800.00

$0.00 $8,276.00 $1,164.00

$400.00 $660.00 $5,708.00

$0.00 $300.00 $1,800.00 $1,600.00 $1,500.00 $500.00 $13,200.00 $3,600.00 $55,958.00

FINANCIAL ANALYSIS SUMMARY

Gross Revenue

Gross Scheduled Income

$461,898

Total Scheduled Income

$461,898

Vacancy & Reserve Cost (5%) $23,094

Effective Gross Income

$438,803

Operating Expenses

$55,958 + Insurance ($11,256) + Prop Taxes ($62,004) = $129,218

Reimbursement Income

$129,218

Gross Operating Income

$568,021

Net Operating Income

$438,803

SALE PRICE SUMMARY Price Price Per SF CAP Rate

$7,631,357 $374 5.75%

$11,256 $62,004

I-80 & Oliver Road Rare Freeway Visible Mid-Sized Box Opportunity

John Cumbelich & Associates

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download