Bank Pad | Oceanside, CA · 2019-05-16 · r rdo gateway del oro center market place plaza ranch...
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Transcript of Bank Pad | Oceanside, CA · 2019-05-16 · r rdo gateway del oro center market place plaza ranch...
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AERIAL
PACIFIC OCEAN
JEFFERSON ST PKWYADT 41,000
ADT 134,000
W E S T V I S TA W A Y
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SUBJECTPROPERTY
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LISTED BY
STEWART R. R. KEITH
direct +1 (858) 875-4669mobile +1 (619) [email protected]
License No. 01106365 (CA)
BRADLEY S. WILLIAMS
direct +1 (858) 875-4668mobile +1 (619) 280-3311
bwil l [email protected] No. 01802468 (CA)
KYLE MATTHEWSCHAIRMAN & CEO
direct +1 (310) [email protected]
License No. 1972189 (CA)
LEASED BY
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SECTION 1
Proper t yOverv i ew
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PHYSICAL DESCRIPTION
INVESTMENT HIGHLIGHTS
2178 Vista WayOceanside, CA 92054
ADDRESS+/-7,846 sfSQUARE FOOTAGE
154-130-33-00APN
+/-0.69 acresLAND AREA
BEST OFFERPRICE
$368,738NOI
» Desirable e-commerce proof tenant lineup with 100% of the in-place income coming from service-oriented tenants
» Value-add opportunity with the ability to realize near term lease-up and increase rent by over ±27%.
» The asset provides an investor the opportunity to purchase a safe income stream with 100% of property occupied by national, credit tenants.
» Prime location at the I-5/SR-78 interchange with over ±134,000 VPD passing the site along SR-78
» Located within Pacific Coast Plaza, a ±450,000 SF freeway-oriented power center located along the major retail corridor in the largest city of North San Diego County
» The asset benefits from neighboring tenants including Walmart, Best Buy, Dick’s, Stater Bros, Bed Bath & Beyond among many more national retailers
» High density trade area with ±106,402 people in a 3-mile radius and ±222,979 in a 5-mile radius
3UNITS
79.29%OCCUPANCY
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AVOCAD
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WEST VISTA WAY
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SITE PLAN
SUITE TENANT SF
PARCEL 1
Chevron 2,500
PARCEL 2
McDonald's 3,255
PARCEL 3
B1 Starbuck's 1,288
B2 T-Mobile 1,500
B3 Cookie Cutters 1,500
B4-B6 Eyeglass World 4,500
B7 Submarina 1,500
B8 Brooklyn Boyz Pizza 1,500
B9 Los Tacos 960
B10 Einstein Bros Bagels 2,019
PARCEL 4
Mimi's 6,500
SUITE TENANT SF
PARCEL 5
Staples 15,225
1A Cricket Wireless 1,350
1B Happiness Nails 2,444
2A Quick Wok 2,019
PARCEL 6
E1 Sprint 1,642
E3 Available 1,625
E5 Navy Federal Credit Union 4,579
PARCEL 7
Applebee's 4,881
PARCEL 8
Stater Bros 62,279
PARCEL 9
Dick's Sporting Goods 41,375
SUITE TENANT SF
PARCEL 10
Old Navy 12,800
Five Below 11,190
PARCEL 11
Cost Plus World Market 18,928
PARCEL 12
Party City 10,000
3A Available 7,500
PARCEL 13
Bed Bath & Beyond 38,008
PARCEL 14
Best Buy 50,000
PARCEL 15
Walmart
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SUBJECT PROPERTY
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APN ACRES
154-130-34-00 1.12
154-130-35-00 1.13
154-130-36-00 1.43
154-130-37-00 1.7
154-130-31-00 1.75
154-130-33-00 0.69
154-130-32-00 1.02
154-130-30-00 4.28
154-130-29-00 2.72
154-130-28-00 1.86
154-130-27-00 1.19
154-130-26-00 1.62
154-130-25-00 2.16
154-130-24-00 3.42
154-130-23-00 12.19
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PARCEL MAP
SR-78
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SECTION 2
Financ ialOverv i ew
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SUITE TENANTLEASESTART
LEASEEND
SQFT% OFNRA
CONTRACTRENTAL RATE
RENT $ PSFOPTIONS
YEAR MONTH YR. MO.
2178-E1 Sprint PCS Jun-01 May-20 1,642 20.9% $97,420 $8,118 $59.33 $4.94 2x3 yrs
2178-E4 Vacant 1,625 20.7% $78,000 $6,500 $48.00 $4.00
2178-E5 Navy Federal Credit Union TBD TBD 4,579 58.4% $193,318 $16,110 $42.22 $3.52 2x5 yrs
Occupied Totals - In Place 6,221 79.3% $290,738 $24,228 $46.73 $3.89
Vacant Totals 1,625 20.7% $78,000 $6,500 $48.00 $4.00
Totals 7,846 100.0% $368,738 $30,728 $47.00 $3.92
RENT ROLL
INCOME & EXPENSES
INCOME
Base Rental Revenue $368,738
Net Rental Income $368,738
Expense Reimbursements $131,527
Effective Gross Income $500,265
EXPENSES
Real Estate Taxes $10.18 $79,875
Property Insurance $0.25 $1,968
CAM/R&M/Utilities $5.74 $45,026
Management 0.93% $4,658
Operating Expenses $131,527
Net Operating Income* $368,738
Sprint Corporation is an American telecommunications company that provides wireless services and is an internet service provider. It is the fourth-largest mobile network operator in the United States and serves 54 million customers as of October 2017. The company also offers wireless voice, messaging, and broadband services through its various subsidiaries under the Boost Mobile, Virgin Mobile, and Assurance Wireless brands, and wholesale access to its wireless networks to mobile virtual network operators. The company is headquartered in Overland Park, Kansas. In July 2013, a majority of the company was purchased by Japanese telecommunications company SoftBank Group Corp., although the remaining shares of the company continue to trade on the New York Stock Exchange. Sprint uses CDMA, EvDO and 4G LTE networks.
FOUNDED: 1986 EMPLOYEES: 30,000
*Net Operating Income assumes a stabilized occupancy
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SECTION 3
AreaOverv i ew
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OCEANSIDE, CALIFORNIAOceanside is a beachfront community of 176,461 located in
northern San Diego County between San Diego and Los Angeles.
The City serves as a major transportation hub serving both
metropolitan areas; however, the city’s greatest pride is its scenic
beaches, beautiful surf and the best vacation weather anywhere
in the world.
Oceanside is a true SoCal beach town with a tangible laid-back
vibe. The city boasts spectacular year-round weather, gorgeous
beaches, a historic wooden pier, quaint New England-style
harbor, and charming bungalow neighborhoods.
O’side (as locals affectionately call it) is a destination of discovery
where you can explore everything from awe-inspiring sea life
through exciting ocean adventures, California history at the “King
of Missions,” and surf culture at the California Surf Museum.
Centrally located in the heart of Southern California, Oceanside is
perfectly situated between San Diego and Los Angeles, making
it easy to visit family-favorite attractions such as LEGOLAND
California Resort, Disneyland California Resort, and the world-
famous San Diego Zoo.
POPULATION 1-MILE 3-MILE 5-MILE
2024 Projection 10,358 110,786 233,166
2019 Estimate 9,980 106,402 222,979
2010 Census 9,447 99,635 205,727
Growth: 2019 to 2024 3.79% 4.12% 4.57%
Growth: 2010 to 2019 5.64% 6.79% 8.39%
HOUSEHOLDS 1-MILE 3-MILE 5-MILE
2024 Projection 4,139 43,737 85,741
2019 Estimate 3,983 41,924 81,928
2010 Census 3,757 39,086 75,569
Growth: 2019 to 2024 3.92% 4.32% 4.65%
Growth: 2010 to 2019 6.01% 7.26% 8.41%
HOUSEHOLD INCOME 1-MILE 3-MILE 5-MILE
Average HH Income $126,728 $100,257 $98,763
Median HH Income $86,849 $71,914 $72,053
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OCEANSIDE ATTRACTIONS• Oceanside boasts some of the widest, sandy beaches in
Southern California as well as a picturesque 1,000-slip harbor
with shops and restaurants.
• Other attractions include Mission San Luis Rey, the king of
California’s Spanish Missions; Oceanside Museum of Art;
California Surf Museum; and Buena Vista Audubon.
• Oceanside has the best surfing conditions in Southern
California; hosting major surf, body boarding and body
surfing competitions every year.
• Fisherman can cast off the Oceanside Pier, the longest
wooden pier on the Pacific Coast; or take a fishing boat; or a
whale watching tour out of the Oceanside Harbor.
• Take a stroll, watch surfers catch a wave, gaze at the sunset,
or dine at Ruby’s Diner at the end of the Pier.
• Bicycle riders enjoy the 7-mile San Luis Rey River Trail and
Coastal Rail Trail.
• Oceanside is a short drive from the San Diego Zoo, the San
Diego Zoo Safari Park and Sea World.
OCEANSIDE PIERStanding at a breathtaking 1,942 feet long, the Oceanside Pier is
a must-see! The area is buzzing with activity around the clock,
from those taking a leisurely walk to fi shermen casting a line and
photographers capturing an epic sunset.
At the shore end of the pier is a plaza and amphitheater where
you can rent bikes or even document your adventures with a
classic caricature drawing. As you walk by the amphitheater, don’t
be surprised to find groups of people exercising, taking a dance
lesson, or even enjoying a music festival.
OCEANSIDE HARBORThe most northern beach in Oceanside is Harbor Beach. A sandy
peninsula, Harbor Beach has stunning ocean views to the west and
harbor views to the east. From this unique vantage point you can
watch surfers catching a wave or spot a sailboat leaving its dock.
Two rocky jetties protect the harbor from rough seas and preserve
its wide, sandy beaches. When the surf conditions are just right,
the jetties are popular locations for people to stand and watch the
ocean waves crash below them.
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CARLSBAD OUTLETS
LEGOLAND
OCEANSIDE PIER
CARLSBAD VILLAGE
FLOWER FIELDS
MISSION SAN LUIS REY
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OCEANSIDE, CALIFORNIA is the northernmost City in San Diego County. It is a major transportion hub with the Sprinter, Coaster, Metrolink, and AMTRAK. 3.5 miles of sparkling beaches.
• Population: 177,362• Median price, new single-family home: $512,000• 67,238 homes in Oceanside• 2,270 new units under construction or in the pipeline • Median age is 36.69 • Average Household Income is $87,163• Over 6 million visitors come to Oceanside annually
CALIFORNIA
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CALIFORNIA
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CALIFORNIA
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OCEAN RANCH
AVE. DE LA PLATA
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OceansideMunicipal
Airport
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COLLEGE BL.
MELRO
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OCEANIC DR.
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RANCH
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EL ORO RD. CEN
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CENTERDEL ORO MARKET
PLACE
PLAZARANCHPLAZA
PLAZARANCHODEL ORO
COLLEGE BLVD
.
OCEANSIDE BLVD.
142,654PEOPLE
$79,096AVERAGE
HOUSEHOLDINCOME
$
39,157 ADTTRAFFIC COUNTS
3 MILE RADIUSCOLLEGE & OCEANSIDE BLVD.
MISSION AVE.
EL C
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O RD.
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MARKETPLACEDEL RIO
SHOPPING CENTER
MISSIONPLAZA REALSHOPPING
CENTER
MISSISON DOUGLAS
PLAZA
117,915 PEOPLE $83,613
AVERAGEHOUSEHOLD
INCOME
$
43,708 ADTTRAFFIC COUNTS
3 MILE RADIUSMISSION AVE., EL CAMINO REAL
AND RANCHO DEL ORO RD.
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FR AZEE
76OLD
GROVEMARKET
PLACE
OLD GROVE RD.
TOWN CENTER NORTH
N ORTH RIVER RD. COLLEGE BLVD.SAN LUIS
REY CROSSING
MISSIONMARKET
PLACEPLAZA
DELORO
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VISTA WAY
EL C
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EL CAMINO NORTH
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VISTA WAY & EL CAMINO REAL ADJACENT TO HWY 78
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NORTHCOUNTY
PLACE
133,476 ADTTRAFFIC COUNTS
$76,784AVERAGE
HOUSEHOLDINCOME
$119,619PEOPLE
3 MILE RADIUS
45,924 ADTTRAFFIC COUNTS
$87,642AVERAGE
HOUSEHOLDINCOME
$105 PEOPLE
3 MILE RADIUSHWY 76 & COLLEGE BLVD.
VISTA WAY & EL CAMINO REAL
20 mile
CALIFORNIA
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10 mile
R IA
SanDiego
OrangeCounty
5 mile
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OCEANSIDE
1,144,174 people within 20 mile radiusAverage Household Income $117,751Daytime Employees: 445,634
588,415 people within 10 mile radiusAverage Household Income $100,962Daytime Employees: 217,431
278,148 people within 5 mile radiusAverage Household Income $88,389Daytime Employees: 67,790
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This Offering Memorandum contains select information pertaining to the business and affairs of Pacific Coast Plaza located in Oceanside, CA (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum for the Property, you agree:
1 . The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or
its contents in any fashion or manner detrimental to the interest of the Seller.
Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the MS of affairs of the Property or constitute an indication that there has been no change in the MS of affairs of the Property since the date this Offering Memorandum.
CONFIDENTIALITY AGREEMENT & DISCLAIMER
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STEWART R. R. KEITH
direct +1 (858) 875-4669mobile +1 (619) [email protected]
License No. 01106365 (CA)
BRADLEY S. WILLIAMS
direct +1 (858) 875-4668mobile +1 (619) 280-3311
bwil l [email protected] No. 01802468 (CA)
LEASED BY
KYLE MATTHEWSCHAIRMAN & CEO
direct +1 (310) [email protected]
License No. 1972189 (CA)
