NC Bristol Street Memory Lane Santa Ana California · 2702 N BRISTOL STREET, SANTA ANA, CALIFORNIA...

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NWC Bristol Street & Memory Lane Santa Ana, California FOR SALE: OUTSTANDING COMMERCIAL CORNER RETAIL www.cbre.com OFFERING MEMORANDUM SITE Memory Ln Coffee Shop Bristol St

Transcript of NC Bristol Street Memory Lane Santa Ana California · 2702 N BRISTOL STREET, SANTA ANA, CALIFORNIA...

Page 1: NC Bristol Street Memory Lane Santa Ana California · 2702 N BRISTOL STREET, SANTA ANA, CALIFORNIA RETAIL NWC BRISTOL & MEMORY LANE OFFERING SUMMARY CBRE is pleased to present a prime,

NWC Bristol Street & Memory LaneSanta Ana, California

FOR SALE: OUTSTANDING COMMERCIAL CORNERRETAIL

www.cbre.com

OFFERING MEMORANDUM

SITE

Memory Ln

Coffee Shop

Bris

tol S

t

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AFFILIATED BUSINESS DISCLOSURE

CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

CONFIDENTIALITY AGREEMENT

Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

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

DISCLAIMER

This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves 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 at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

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RETAIL

TABLE OF CONTENTS

CONTACT US

04 Offering Summary

07 Property Highlights

09 Parcel Map

10 Regional and Local Maps

13 City Overview

18 Demographics

Joe Miller

First Vice President+1 949 725 [email protected]. 00902422

CBRE, Inc.

3501 Jamboree RoadSuite 100Newport Beach, CA 92660www.cbre.com Joe Miller

Taylor Friend

Senior Associate+1 714 371 [email protected]. 01885394

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OFFERING SUMMARY

Memory Ln

Bristol Street

SITECoffee Shop

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RETAIL 2 7 0 2 N B R I S T O L S T R E E T , S A N T A A N A , C A L I F O R N I AN W C B R I S T O L & M E M O R Y L A N E

OFFERING SUMMARYCBRE is pleased to present a prime, signalized commercial corner at the north-west corner of Bristol and Memory Lane in Santa Ana, California. This property is a ±22,400 square foot parcel at a major signalized corner.

This location in an extremely densely populated area of Orange County with a strong mix of residential, daytime employment and business contributors. The location has excellent exposure to two major arterials and has convenient access to the Garden Grove (22), Santa Ana (5) and Orange (57) Freeways. Traffic counts are extremely strong with exceeding 70,000 at this intersection.

Property Address2702 N Bristol St

Santa Ana, CA 92703

Assessor Parcel Number 002-261-06

Offering Price $2,025,000

For Lease $12,000 month, NNN

Current Property Use Vacant/Former Chevron, closed 2006

Land Area ± 22,400 / 0.51 Acres

Ownership Fee Simple

Zoning C1- Community Commercial

Santa Ana City Hall

Civic Center

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Memory Ln

GARDEN GROVE 22 FRWY

Bristol St

The

City

Driv

e

SANTA ANA 5 FRWY

Memory LnSITE

Bristol St

RIVERVIEW GOLF COURSE

FLORAL PARK

Coffee Shop

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PROPERTY HIGHLIGHTS

+ Outstanding Demographics Over 319,011 live within a 3-mile radius average Average Household Income is $92,944 in a 1-mile radius

+ Parcel Size ±22,400 Square Feet / 0.51 Acres

+ Busy Corridor 76,364 + CPD

+ Zoning C-1 (Community Commercial)

+ Location Signalized corner location in therefore - former Service Station

+ Strong Daytime Population ±143,952 within a 3-mile radius

+ Rare Opportunity to Acquire Prime corner in Orange County

+ Fee Simple

Bowers MuseumSanta Ana Amtrak StationDiscovery Science Center

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Bristol Street

Memory Lane

SITE

PARCEL MAP

Coffee Shop

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PARCEL MAP

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LOCAL MAPS

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LOCAL MAPS

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AERIAL MAP

SAN

TA A

NA FW

Y

SITE

MAIN PLACE MALL

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CITY OF SANTA ANA OVERVIEWThe city of Santa Ana is the second most populous city in Orange County, California. This great and vast city is over twenty-seven square miles with a population of 342,930. The City of Santa Ana was incorporated on June 1, 1886 after separation from Los Angeles. The city is in heart of Orange County and the center of government, commerce and transportation. Santa Ana is located along Santa Ana River. The City shares its name with the Santa Ana Freeway (I-5), the nearby Santa Ana Mountains, and the Santa Ana winds. Santa Ana is also home to the Orange County Courthouse and Civic Center.

The City has a solid retail base most notably the MainPlace Mall, the Santa Ana Auto Mall and a resurging downtown. The MainPlace Mall encompasses 1,109,800 square feet and is home to major retailers such as Macy’s (367,500 sq ft.), Ashley Furniture (30,000 sq ft.), and JC Penney (142,500 sq ft.).

John Wayne Airport (airport code: SNA) is also located in Santa Ana – serve as the only commercial service airport in Orange County, California. The airport was originally called Santa Ana Airport because it was a combination of land spaces between Eddie Martin Airport and Santa Ana Army Air Base. Later called, the Orange County Airport before being renamed the John Wayne Airport in 1979.

John Wayne Airport

SANTA ANA LARGEST PRIVATE EMPLOYERS (AS OF 2016)

Principal City EmployersNo. of

Employees%

Employment

County of Orange 18,039 11.3%

Santa Ana Unified School District 4,665 2.9%

Santa Ana College 3,175 2.0%

First American Title Co. 1,770 1.1%

City of Santa Ana 1,424 0.9%

KPC Healthcare (formerly Integrated Healthcare Holdings)

1,130 0.7%

Superior Court of CA (County of Orange) 742 0.5%

Orange County Register (Freedom Communications)

601 0.4%

Abbott Medical Optics Inc. 600 0.4%

Source: City of Santa Ana, Comprehensive Annual Financial Report 2016

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SANTA ANA ATTRACTION INCLUDED:

+ Bowers Museum of Cultural Arts

+ Discovery Science Center

+ Downtown Santa Ana Historic Districts

+ Fairhaven Memorial Park

+ Galaxy Theatre

+ Heritage Museum of OC (Kellogg House)

+ Historic Floral Park

+ Historic French Park

+ Old Orange County Courthouse & Museum

+ S.A. Firefighters’ Museum.

+ Santa Ana Artists’ Village

+ Santa Ana Civic Center

+ Santa Ana College

+ Santa Ana Historical Preservation Society

+ Santa Ana Zoo

+ St. Joseph Catholic Church

East End of Downtown Santa Ana – formerly known as the Fiesta Marketplace shopping district on East Fourth Street. Recently, this area has expanded the popular first Saturday Artwalk at the Artist’s Village, home to various artists and institutions.

Artist’s Village Institutions:

+ Historical Santora building + Cal State Fullerton Grand Central Art Center + Orange County Center for Contemporary Art.

Artist’s Village Restaurants

The Gypsy Den The Crosby

Memphis Courthouse Restaurants

Pangea Bistro 400

Trattoria Ciao Jason’s

Original Mike’s

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East End Tenants includes:

Yost Theater The Gypsy Den

Yost Studios Original Mike’s

The Playground Restaurant Quizno’s

Playground 2.0 Subway

Bistro 400 Taquería Guadalajara

MainPlace Mall

Santa Ana Auto Mall

Santa Ana Auto Mall – a large automotive dealership center in Santa Ana’s Auto Mall Drive. There are 6 major auto dealerships: Crevier BMW, Crevier Mini, Freeway Honda, Volvo of Orange County, Commonwealth Audi, Commonwealth Volkswagen. The transportation and retail make up approximately 50% of the City’s sales tax base.

Santa Ana Mall Shopping Center - MainPlace Mall is a regional mall with 1,109,800 square feet. It is known as an entertainment/mixed-use destination. Some of the Anchor retailers:

24 Hour Fitness Super Sport Abercrombie & Fitch

American Eagle Outfitters Ashley Furniture HomeStore

Bath & Body Works Brookstone

California Pizza Kitchen Coach

Disney Store Foot Locker

Forever 21 Frederick’s of Hollywood

Gap/GapKids H&M

Hot Topic Chico’s

JC Penney Lane Bryant

The Limited M.A.C. Cosmetics

Macy’s

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1st and Cabrillo Towers

A 6-acre mixed-use project, which will contain 320 units within 3 buildings, and a 15,000 square feet of retail and restaurant space.

Bowers Museum Expansion

The Dorothy and Donald Kennedy Wing has recently more than doubled the museum’s exhibit space and created a 300-seat auditorium, two 5,000-square foot galleries, and a central atrium designed to host special events for up to 500 guests.

Corinthian Colleges

Corinthian College will be occupying a four-story, 40,000 square foot office building at Santa Ana Blvd and Ross Street. The school will offer degrees in the technical field and specialty trades that will complement professional services found in the downtown.

SANTA ANA PROJECT PLANS

City Place

City Place is a chic, urban-flavored village of elegant townhomes, lofts and retail located at Main Street and Memory Lane, across from MainPlace Mall and next to Santiago Park. In addition to three residential communities—The Lofts, The Courtyards and The Park — City Place provides an upscale retail experience with Mother’s Market, Corner Bakery, Chipotle Mexican Grill, and more.

Discovery Science Center

Expansion plans include 30,000 square feet of exhibit area, office and warehouse space, and a parking structure.

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MainPlace Mall

Whether you shop for an hour or stay for the day, you’ll find more to love at MainPlace Mall. Anchored by Nordstrom, Macy’s and JC Penney, this indoor shopping mecca offers a collection of nearly 200 stores to choose from including the most popular brands in fashion, beauty, dining and entertainment. Recent additions include 24 Hour Fitness Super Sport, Ashley Furniture HomeStore, Round 1 Bowling and Amusement, Lucille’s Smokehouse BBQ and Wokcano Asian Restaurant and Bar.

Olson Lofts

Santa Ana Redevelopment Agency and The Olson Company constructed 70 award-winning live/work lofts in the heart of Santa Ana’s Artists Village. These lofts are characterized by high ceilings, exposed structural elements, and hardwood floors.

One Broadway Plaza

Santa Ana isn’t just developing cutting-edge residential and mixed-use projects. When constructed, One Broadway Plaza will be Orange County’s tallest building, at 37 stories.

Promenade Pointe

Promenade Pointe infuses the MacArthur Place area with “luxury high-rise condominiums”, adding synergy in this vibrant mecca. Located in the hip and happening MacArthur gateway, Promenade Pointe is minutes from the South Coast Arts, Entertainment and Shopping mecca of Orange County.

MainPlace Mall

Santa Ana Residential Village

An 8-acre mixed-use project housing 423 residential units with 3 to 8 story live/work townhomes and flats. It will also be the home to 150 condominium units within a 24-story high-rise tower. Units will range from 700 to 2,000 square feet.

Santiago Street Lofts

Located across the street from the historic Santa Ana Train Depot, this award-winning project consists of 108 loft-style units that allow the residents to both live and work in the same place.

SKYLINE at MacArthur Place

Skyline at MacArthur Place, recently completed by the Nexus Companies, is composed of two gleaming 25-story towers housing lavish condominiums overlooking a 2.5-acre lake. Less than one mile from John Wayne Airport, South Coast Plaza and the Orange County Performing Arts Center, Skyline at MacArthur is the most upscale urban alternative for couples and professionals seeking a contemporary lifestyle.

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White 46%

Black 1%

Asian 11%

Hispanic 38%

Other 4%

Ethnicity

Office or Admin 20%

Sales 15%

Production 20%

Maintenance 19%

Food & Services 14%

Construction 12%

Business Occupation

0%

5%

10%

15%

20%

25%

30%

35%

Under 20 20-39 40-59 60 & Over

Population by Age

0%

5%

10%

15%

20%

25%

30%

35%

< $25k $25-$50k $50-$100k $100-$200k $200k+

Population by Income

310,000 315,000 320,000 325,000 330,000 335,000 340,000 345,000 350,000 355,000 360,000

2000 2010 2016 2021

Population

ETHNICITY

POPULATION BY AGE

POPULATION BY INCOME

POPULATION

BUSINESS OCCUPATION

DEMOGRAPHICS

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1-Mile Radius

2-Mile Radius

3-Mile Radius

Population2000 Population - Census 24,876 137,198 310,961

2010 Population - Census 25,509 138,327 306,393

2016 Population - Current Year Estimate 26,709 144,462 319,346

2021 Population - Five Year Projection 27,695 149,991 332,011

Population Growth2010-2016 Annual Population Growth Rate 0.74% 0.70% 0.66%2016-2021 Annual Population Growth Rate 0.73% 0.75% 0.78%

Education Attainment2016 Population 25 and Over 16,868 88,510 190,382Less than 9th Grade 2,190 17,703 44,7479-12th Grade - No Diploma 1,693 12,070 28,680High School Diploma 3,961 17,423 37,841GED or Alternative Credential 553 2,690 5,147Some College - No Degree 3,395 16,728 33,659Associate`s Degree 1,065 4,911 10,176Bachelor`s Degree 2,813 12,079 21,538Graduate or Professional Degree 1,198 4,906 8,594

©2016 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: Esri

DEMOGRAPHIC BRIEF

1-Mile Radius

2-Mile Radius

3-Mile Radius

Households2000 Households - Census 6,433 34,156 73,8142010 Households - Census 6,353 35,738 75,6522016 Households - Current Year Estimate 6,485 36,830 77,7432021 Households - Five Year Projection 6,708 38,122 80,5002010-2016 Annual Household Growth Rate 0.33% 0.48% 0.44%2016-2021 Annual Household Growth Rate 0.68% 0.69% 0.70%

Average Income2016 Average Household Income $92,944 $72,739 $69,5592021 Average Household Income $102,544 $79,345 $75,634

Medium Income2016 Median Household Income $68,286 $53,755 $52,8092021 Median Household Income $78,661 $57,644 $56,271

Medium Housing Units2016 Housing Units 6,846 39,023 81,9232016 Vacant Housing Units 361 2,193 4,1802016 Occupied Housing Units 6,485 36,831 77,7432016 Owner Occupied Housing Units 3,556 14,322 32,0822016 Renter Occupied Housing Units 2,929 22,509 45,661

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RETAIL

Page 22: NC Bristol Street Memory Lane Santa Ana California · 2702 N BRISTOL STREET, SANTA ANA, CALIFORNIA RETAIL NWC BRISTOL & MEMORY LANE OFFERING SUMMARY CBRE is pleased to present a prime,

NWC Bristol Street & Memory LaneSanta Ana, California

FOR SALE: OUTSTANDING COMMERCIAL CORNERRETAIL

CONTACT US

Joe Miller

First Vice President+1 949 725 [email protected]. 00902422

Taylor Friend

Senior Associate+1 714 371 9241 [email protected] Lic. 01885394

CBRE, Inc.

3501 Jamboree RoadSuite 100Newport Beach, CA 92660www.cbre.com

© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

Memory LnBristol St

SITE Coffee Shop

www.cbre.com