jefferson ave - loopnet · paul lafrenz +1 858 677 5344. tment y. for sale | ± 28,488 sf...

PAUL LAFRENZ+1 858 677 5344

INVESTMEN

T OPPORTUN

ITY

FOR SALE | ±28,488 SF Multi-Tenant Office

JEFFERSON AVE TEMECULA, CA 92590

Camp PendletonMarine Corps Base

Bonsall

Fallbrook

San Clemente

Borrego Springs

SalonCity

Ocotillo Wells

Hayfield

Eagle Mountain

Milligan

Chubbuck

SlabCity

Dana Point

Newport BeachCosta Mesa

Irvine

Santa AnaTustin

OrangeGarden Grove

AnaheimTorrance

SantaMonicaMalibu

Pasadena

Pomona

San Bernardino SAN BERNARDINO

Beaumont

Big Bear Lake

Twentynine Palms

Yucca Valley

Landers

JohnsonValley

Desert HotSprings

Victorville

Long Beach

HuntingtonBeach

CatalinaIsland

Seal Beach

LagunaNiguel

LagunaHills

Mission Viejo

PalmDesert

Indio

LagunaBeach

Temecula

Murrieta

LakeElsinore

Perris

Anza

Valley Center

RanchoBernardo

DelMar

SolanaBeach

Encinitas

Poway

Vista

San Marcos

Escondido

Carlsbad

Oceanside

LaJolla

LemonGrove

La Mesa

El Cajon

Santee

Lakeside

NationalCity Chula Vista

Coronado

Thousand Oaks

Simi Valley

Hollywood

LOS ANGELESLOS ANGELES

SANDIEGOSAN

DIEGO

RIVERSIDERIVERSIDE

Joshua TreeNational Forest

Salton Sea

Mt. SanJacinto

Anza Borrego DesertState Park

Cuyamaca RanchoState Park

Mt. Laguna

PalomarMountain

ClevelandNationalForest

AngelesNationalForest

MEXICOMEXICO

MEXICOMEXICO

Calexico

El Centro

Brawley Glamis

Mexicali

TecateTijuana

San ClementeIsland

IMPERIAL

LOS ANGELES COUNTY10.2 MIL

Est. Population

SAN DIEGO COUNTY3.3 MIL

Est. Population

RIVERSIDE COUNTY2.4 MIL

Est. Population

TIJUANA1.8 MIL

Est. Population

85 MILES to Los Angeles

86 MILES to Port of Long Beach

61 MILES to Orange County

50 MILES to Pacific Ocean

76 MILES to Tijuana, Baja, Mexico

60 MILES to Downtown San Diego

27919 JEFFERSON AVE

Ground

JEFFERSON CENTER OFFICE BUILDING

Camp PendletonMarine Corps Base

Bonsall

Fallbrook

San Clemente

Borrego Springs

SalonCity

Ocotillo Wells

Hayfield

Eagle Mountain

Milligan

Chubbuck

SlabCity

Dana Point

Newport BeachCosta Mesa

Irvine

Santa AnaTustin

OrangeGarden Grove

AnaheimTorrance

SantaMonicaMalibu

Pasadena

Pomona

San Bernardino SAN BERNARDINO

Beaumont

Big Bear Lake

Twentynine Palms

Yucca Valley

Landers

JohnsonValley

Desert HotSprings

Victorville

Long Beach

HuntingtonBeach

CatalinaIsland

Seal Beach

LagunaNiguel

LagunaHills

Mission Viejo

PalmDesert

Indio

LagunaBeach

Temecula

Murrieta

LakeElsinore

Perris

Anza

Valley Center

RanchoBernardo

DelMar

SolanaBeach

Encinitas

Poway

Vista

San Marcos

Escondido

Carlsbad

Oceanside

LaJolla

LemonGrove

La Mesa

El Cajon

Santee

Lakeside

NationalCity Chula Vista

Coronado

Thousand Oaks

Simi Valley

Hollywood

LOS ANGELESLOS ANGELES

SANDIEGOSAN

DIEGO

RIVERSIDERIVERSIDE

Joshua TreeNational Forest

Salton Sea

Mt. SanJacinto

Anza Borrego DesertState Park

Cuyamaca RanchoState Park

Mt. Laguna

PalomarMountain

ClevelandNationalForest

AngelesNationalForest

MEXICOMEXICO

MEXICOMEXICO

Calexico

El Centro

Brawley Glamis

Mexicali

TecateTijuana

San ClementeIsland

IMPERIAL

BUILDING SIZE: ±28,488 SF

ASKING PRICE: $1,600,000

IN-PLACE CAP RATE: 9.99%

Property Highlights > High-image, multi-tenant office building with excellent visibility

and signage along Jefferson Avenue and Interstate 15

> 100% occupied

> Upside due to below-market rents

> Close proximity to Interstate 15 between Rancho California Road and Overland Pass Drive

> Abundant glassline

> Plentiful parking (4.0/1,000 SF)

> Walking distance to restaurants and shops

Ground

27919 JEFFERSON AVENUE, TEMECULA | 3

PROPERTY DETAILS

Building Description: Multi-tenant office (7 tenants)

Building Address: 27919 Jefferson Ave., Temecula, CA 92590

Building Size: Approximately 28,488 SF

Lot Size: 1.57 AC - land lease(1)

Parcel Number: 921-050-013

No. Floors: Two (2)

Year Built: 1988

Sprinklers: Yes

Zoning: CC (Community Commercial)

Construction: Reinforced concrete

Parking: 4/1,000

(1) Ground leased through 2041 with a right to purchase the ground at lease-end at Fair Market Value (FMV). Ground lease rent increases by 50% of CPI every 5 years. Last increase just occured in 2018. Next will be in 2023.

4 | INVESTMENT OPPORTUNITY

INVESTMENT SUMMARY

Gross Income $ 450,096Less estimated expenses

Operating Expenses $ (134,311)

Property Taxes $ (32,766)

Land Lease $ (123,129)

NOI $ 159,890

CAP Rate 9.99%

921

050

8

7

6

5

4

3

12

131.57 AC11

14

18

19

20

15

1617

10

9

VIA M

ONTEZUMA

LAS HACIE

NDA ST.

JEFFERSON AVE


FIRST FLOOR


Suite 106 Suite 107 Suite 110

Suite 101-103

Lobby

*Not to scale. To be verified by buyer.

SECOND FLOOR


Suite 205

Suite 206 Suite208

Suite 110

Suite 202

Suite 203

Open toBelow

*Not to scale. To be verified by buyer.

TEMECULA/MURRIETA

Q2 2018 OFFICE MARKET HIGHLIGHTSIn the second quarter of 2018, total vacancy rate for the Temecula/Murrieta office market is 10.5%. There are 35 buildings considered in the Temecula/Murrieta market survey. Leasing activity for the quarter was 23,300 square feet.

The weighted average asking rental rate was $1.72 PSF FSG.

UnemploymentThe unemployment rate for the Inland Empire was 3.7% as of May 2018, adding 44,700 nonfarm jobs to the region over the past year.

Trade, transportation, and utilities registered the largerst year-over-year gain, adding 16,600 jobs over the past year.

MARKET INDICATORSQ2 2018

Source: Colliers International

0SFCONSTRUCTION UNEMPLOYMENT

3.7%

VACANCY RATE

10.5%NET ABSORPTION

23.3KSF

RENTAL RATE FSG

$1.72PSF


Per Moody’s Analytics, Inland Empire leads the way

in Southern California, with overall growth comfortably leading

that of its peers. Payrolls in the last quarter of 2017

grew by three times the U.S. average.

INLAND EMPIRE TOP EMPLOYERS# Employer Employees1 Stater Brothers Markets 18,0002 Arrowhead Regional Medical Center 18,0003 U.S. Marine Corps. Air Ground Combat Center 16,2664 Fort Irwin 13,8055 Wal-Mart Stores Inc. 12,2636 Loma Linda University 8,5827 March Air Reserve Base 8,5008 U.C. Riverside 7,6189 Ontario International Airport 7,51010 Amazon 7,50011 VA Loma Linda Healthcare System 6,14712 Kaiser Permanente 5,73913 Target Brands Inc. 4,80014 Pechanga Resort & Casino 4,00015 Riverside County Regional Medical Center 3,87616 Eisenhower Medical Center 3,66517 San Manuel Band of Mission Indians 3,26118 Morongo Casino, Resort & Spa 3,00019 JW Marriott Desert Springs Resort & Spa 2,30420 Desert Regional Medical Center 2,230

Source: Moody’s Analytics

INLAND EMPIRE SNAPSHOT

Business Cycle Status Expansion

Avg. Emp. Growth 2yr 2.8%

Avg. Emp. Growth 5yr 1.3%

Source: Moody’s Analytics


Ynez Rd Temecula Pkwy

Rancho California Rd

Murrieta Hot S

prings Rd

Nicolas Rd

Margarita Rd

Butterfield Stage Rd

Anza

Rd

Meadows Pkw

y

27919 JEFFERSON AVE

TEMECULA TOWN CENTER

CVSVons

24 Hour FitnessVerizon

Nothing Bundt CakesRubiosChase

Home GoodsSprintMobilTarget

Claim JumperStarbucks

Michael’sChili’s

Bank of AmericaAMC Temecula 10Marie Callender’s

Big LotsArco

UPS StoreDel Taco

Dick’s Sporting Goods24 Hour Fitness

Sam’s ClubBuffalo Wild Wings

The Habit Burger Grill7-Eleven

MURRIETA TOWN CENTER Burlington

Ross Dress for LessMarshall’s

Dunkin DonutsRite Aid

Postal Annex

PROMENADE TEMECULACostco

Abercrombie & FitchAmerican Eagle

AppleBath & Body Works

California Pizza KitchenCoach

Edwards CinemaExpress

Forever 21GNCH&M

JC PennyLaser AwayLululemonLuna Grill

MACMacy’s

Old Navy

PF Chang’sPottery Barn

SephoraStarbucksSubway

Williams-SonomaYard HouseYogurtland

MURRIETA SPRINGS PLAZAWalmart

IHOPBest Buy

Home DepotDenny’sPopeye’sPetSmart

Big 5McDonald’s

Panda ExpressWells FargoStarbucks

Jersey Mike’sStaples


Over the past two decades, the City of Temecula has evolved into an innovative, dynamic city and a regional economic center, all while retaining its small town feel and character.

Temecula, branded as Southern California Wine Country, offers award-winning schools, beautiful residential communities, higher educational opportunities, and a vast array of parks and trails. Rated one of the top twenty least expensive cities to do business in California and one of 60 least expensive cities to operate a business in the US by the Kosmont-Rose Institute, Temecula remains the ideal city for relocating, expanding, and developing a new project in Southern California. Temecula strives to be a well-rounded community and sets the stage for an excellent quality of life for both residents and companies alike.

Temecula ranked one of the BEST CITIES IN THE US

247wallst.com

TOP 20 SAFEST CITIES IN NATION

AOL Poll dated July 2016

#23 BEST CITIES TO START A FAMILY

lendedu.com

#3 BEST PLACE TO LIVE IN CALIFORNIA

smarttravel.tips

TEMECULA

Population±111,000

Avg. Household Income$95,117

Avg. Age35

Anza

Rd


This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2018. All rights reserved

PAUL LAFRENZSenior Vice PresidentLic No. 00817354Dir +1 858 677 [email protected]

San Diego - Central | 4350 La Jolla Village Drive, Suite 500, San Diego, CA 92122 | main +1 858 455 1515 colliers.com/sandiego

jefferson ave - loopnet · paul lafrenz +1 858 677 5344. tment y. for sale | ± 28,488 sf...

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