montclair town center - costar...
TRANSCRIPT
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Montclair Town CenterOffering Memorandum
Broker: Eric TreibatchBroker Corp ID No. 01187117(818) 708-0888 [email protected]
Agent:Edward ChapmanLicense No. CA 01999563(818) 708-0888 [email protected]
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Executive SummaryInvestment Data..........................2 Investment Overview...................4 Investment Highlights .................5
Property DescriptionProperty Details.............................7Area Maps..................................8-9Site Plan......................................10Parcel Map..................................11Development Potantial................12
Financial OverviewRent Roll................................................142018 Projected Income & Expense.......15Assumptions & Financing......................1610 Year Projection .................................17Tenant Summaries ................................18
Comparable PropertiesRecent Sales ...................................20-211 Mile Rent Survey...........................22-23
Market OverviewDemographic Summary.......................25
The information contained in this Marketing Brochure is strictly confidential and is intended to be reviewed only by the party receiving it from Ophir Management Services. This information should not be made available to any other person without the written consent of Ophir Management Services. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers and to establish only a preliminary interest in the subject property. The information in this Marketing Brochure is not a substitute for a thorough due diligence investigation. Ophir Management Services makes no warranty or representation with respect
to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, the compliance with State and Federal regulations, the physical condition of the improvements, or
the financial condition or business prospects of any tenants, including tenants plans or intentions to continue occupancy at the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Ophir Management Services has not verified, and will not
verify, any of the information contained herein. Ophir Management Services makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information contained herein.
Table of Contents
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48,000 Vehicles per Day
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Montclair Town Center9710-9886 Central Ave Montclair, CA 91763
Price $19,500,000CAP Current 6.42%Current Occupancy 82%
Financing CMBS Loan Assumption4.57% Interest Only for Entire TermDue 2024Annual Payment: $390,278Loan Balance: $9,150,000Down Payment: $10,350,000
Vital Data
NOI CAP
2018 $1,252,387 6.42% $862,109 8.33%
2019 $1,302,646 6.68% $912,368 8.82%
2020 $1,355,089 6.95% $964,811 9.32%
2021 $1,483,060 7.61% $1,092,782 10.56%
2022 $1,633,796 8.38% $1,243,518 12.01%
2023 $1,662,098 8.52% $1,271,820 12.29%
2024 $1,691,152 8.67% $1,300,874 12.57%
2025 $1,720,980 9.83% $1,330,702 12.86%
2026 $1,751,605 8.98% $1,361,327 13.15%
2027 $1,844,485 9.46% $1,454,207 14.05%
2028 $1,876,779 9.62% $1,486,501 14.36%
Cash Flow
Cash-on-Cash Return
See Assumptions and Financing Details on Page 15
Executive Summary - Investment Data
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Gross Leasable Area 96,612 SF
Price/SF $201.84
Lot Size 9.67 AC
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Executive Summary - Investment Overview
4
Ophir Management Services has been selected to exclusively market for sale the Montclair Town Center, a 96,612 square foot multi-tenant shopping center located on a major thoroughfare in Montclair, California. With ideal demographics and density, Montclair Town Center sits on approximately 10 acres of land.
Montclair Town Center presents the new Owner the opportunity to purchase a cash-flowing investment with significant upside through leasing vacant space (18%).
Major Tenants include 24 Hour Fitness, Dollar General, Burger King, Bank of America and Yum Yum Donuts.
Landlord has negotiated a right to terminate for 24 Hour Fitness, allowing for a new owner to market the anchor space to grocers while collecting rent from the current tenant.
Included in the sale is the opportunity to assume an interest only loan not due until 2024. This loan increases cash-flow and allows the new owner to retain capital for capital Improvements.
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Executive Summary - Investment Highlights
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82% Occupancy; Value-Add Investment Opportunity Situated on Central Avenue, the main North/South arterial of Montclair Two Signalized Intersections (Central Avenue at Benito Street and San Bernardino Street) 48,000 Cars per Day at Signalized Intersection Landlord Right to Terminate 24 Hour Fitness Lease allows for marketable Anchor Space Easily Accessible; Half Mile from Interstate 10 Burger King and Yum Yum Donuts have occupied space at the property over 30 years Four Separate Parcels allows for Flexible Future Disposition Strategies Future Drive-Through PAD Opportunity along Central Avenue
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General Information
Property Description Property Details
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PROPERTY Montclair Town CenterADDRESS 9710-9886 Central Ave
Montclair, CA 91763GLA 96,612 SFYEAR BUILT 1980 & 1986ZONING C-3APNs 1010-041-77, 80, 79, 78LOT SIZE 9.67 ACPARKING 513 spaces (5.31/1,000)
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Property Description Area Maps
8
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Property Description Area Maps
9
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Property Description Site Plan
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9880
9870
9860 9850
9828
9818
9814
9790
9748
9746
9744
9738
9736
9734
9732
9730
9886
9876
98789804 9802 9710
Not a Part
Not a Part
Nith
yana
ndes
hwar
a H
indu
Tem
ple
9816
9812
5220
5230
9810
974098
40
VACANCIES FUTURE PAD DEVELOPMENTCONTACT LISTING AGENTS FOR DETAILS
UNIT # UNIT SIZE5230 1,381 SF5220 1,361 SF9840 8,016 SF9816 1,214 SF9812 1,220 SF9810 1,797 SF9740 2,417 SF
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Property Description Parcel Map
11
CENTRAL AVENUE
BEN
ITO
STR
EET
SAN BERN
ARDINO
STREET
1010-041-77 1010-041-791010-041-78
1010-041-80
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Property Description Development Potential
12
Montclair Town Center has the potential to host a new Grocery Store in the 24 Hour Fitness space. The Landlord has cleverly negotiated a right to terminate 24 Hour Fitnesss lease, allowing for the new owner to market the Anchor space to grocery tenants while still collecting rent. Above is a rendering that would raise the elevation of the Anchor space for
a new grocer. Contact listing agents for details.
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Financial Overview Rent Roll
14
Unit Tenant Sq Ft Lease From Lease Expire Rent Rent/SF NNN NNN/SF Total Rent Total/SF Increase Increases Options9730 Bank of America 905 8/1/2001 11/30/2021 1,529$ 1.69$ 392$ 0.43$ 1,921$ 2.12$ 12/1/2018 2% ann 1x5 Yr; 2%9732 Liberty Tax 905 12/3/2010 4/30/2020 1,298$ 1.43$ 392$ 0.43$ 1,690$ 1.87$ 5/1/2018 4% ann9734 Rose Spa 1,201 11/28/2012 11/30/2022 1,878$ 1.56$ 520$ 0.43$ 2,398$ 2.00$ 12/1/2018 3% ann9736 J's Cleaners 1,185 8/1/2013 7/31/2018 1,868$ 1.58$ 514$ 0.43$ 2,382$ 2.01$ 3% ann 1x5 Yr; 3%9746 Rise Above 1,164 11/21/2012 4/30/2020 1,590$ 1.37$ 505$ 0.43$ 2,095$ 1.80$ 5/1/2018 3% ann9818 Ferndog's Barber 625 10/14/2004 10/31/2019 1,194$ 1.91$ 271$ 0.43$ 1,465$ 2.34$ 11/1/2018 $50 / Yr9804 First Dental 3,293 11/1/2003 10/31/2023 6,753$ 2.05$ 1,401$ 0.43$ 8,154$ 2.48$ 10/1/2018 3% ann9802 Lucky Laundry 3,115 6/1/2000 1/31/2021 5,579$ 1.79$ 1,159$ 0.37$ 6,738$ 2.16$ 2/1/2018 3% ann 1x5 Yr; FMV9828 Bienvenidos Children 5,844 5/6/2002 4/30/2018 6,577$ 1.13$ 2,499$ 0.43$ 9,076$ 1.55$ FIXED9850 T-Shirt Warehouse 5,458 4/30/2007 9/30/2018 6,325$ 1.16$ 2,253$ 0.41$ 8,578$ 1.57$ 3% ann 1x5 Yr; 3%
9876-8 Prime Time Realty 3,000 3/30/2012 12/31/2018 5,218$ 1.74$ 1,299$ 0.43$ 6,517$ 2.17$ 3% ann 1x5 Yr; FMV9886 Yum Yum Donuts 1,308 9/1/2002 8/31/2022 3,700$ 2.83$ 565$ 0.43$ 4,265$ 3.26$ 9/1/2018 2.5% ann9860 Dollar General 15,892 8/12/2011 2/28/2022 12,012$ 0.76$ 5,251$ 0.33$ 17,263$ 1.09$ FLAT 2x5 Yr; 10% each9790 24 Hour Fitness 20,389 9/15/2006 9/30/2021 34,528$ 1.69$ 5,384$ 0.26$ 39,912$ 1.96$ 10/1/2021 FIXED 3x5 Yr; 10% each9720 ND Temple (NAP) - 1/1/2001 -$ -$ 2,486$ -$ 2,486$ -$ 9738 ESI Insurance 1,203 6/1/2002 8/31/2019 2,103$ 1.75$ 521$ 0.43$ 2,624$ 2.18$ 9/1/2018 3% ann9744 EZ Cash 1,207 8/1/2006 12/31/2020 1,727$ 1.43$ 522$ 0.43$ 2,249$ 1.86$ 1/1/2019 $0.04/SF/ann9748 Laptop Exchange 1,832 1/5/2012 1/31/2022 2,297$ 1.25$ 798$ 0.44$ 3,095$ 1.69$ 12/1/2018 3% ann 1x5 Yr; FMV9710 Burger King 2,717 9/17/1979 5/20/2020 4,605$ 1.70$ 352$ 0.13$ 4,957$ 1.82$ 9880 Dr. Do 1,875 5/12/2014 9/30/2019 2,868$ 1.53$ 806$ 0.43$ 3,674$ 1.96$ 10/1/2018 3% ann 1x5 Yr; 3%9870 Funtime 4,888 5/1/2017 9/30/2022 5,866$ 1.20$ -$ -$ 5,866$ 1.20$ 5/1/2018 $250 ann9814 Kitten's Place 1,200 6/15/2017 6/14/2022 1,248$ 1.04$ 504$ 0.42$ 1,752$ 1.46$ 6/15/2018 5% ann 1x5 Yr; 5%5230 VACANT 1,381 5220 VACANT 1,361 9840 VACANT 8,016 9816 VACANT 1,214 9812 VACANT 1,220 9810 VACANT 1,797 9740 VACANT 2,417
OCCUPIED 82% 79,206 VACANT 18% 17,406 TOTAL 100% 96,612 110,762$ 28,394$ 139,156$
Accelerated through Jan 2018
Sheet1
UnitTenantSq FtLease FromLease ExpireRentRent/SFNNNNNN/SFTotal RentTotal/SFIncreaseIncreasesOptions
9730Bank of America9058/1/0111/30/21$ 1,529$ 1.69$ 392$ 0.43$ 1,921$ 2.1212/1/182% ann1x5 Yr; 2%
9732Liberty Tax90512/3/104/30/20$ 1,298$ 1.43$ 392$ 0.43$ 1,690$ 1.875/1/184% ann
9734Rose Spa1,20111/28/1211/30/22$ 1,878$ 1.56$ 520$ 0.43$ 2,398$ 2.0012/1/183% ann
9736J's Cleaners1,1858/1/137/31/18$ 1,868$ 1.58$ 514$ 0.43$ 2,382$ 2.013% ann1x5 Yr; 3%
9746Rise Above1,16411/21/124/30/20$ 1,590$ 1.37$ 505$ 0.43$ 2,095$ 1.805/1/183% ann
9818Ferndog's Barber62510/14/0410/31/19$ 1,194$ 1.91$ 271$ 0.43$ 1,465$ 2.3411/1/18$50 / Yr
9804First Dental3,29311/1/0310/31/23$ 6,753$ 2.05$ 1,401$ 0.43$ 8,154$ 2.4810/1/183% ann
9802Lucky Laundry3,1156/1/001/31/21$ 5,579$ 1.79$ 1,159$ 0.37$ 6,738$ 2.162/1/183% ann1x5 Yr; FMV
9828Bienvenidos Children5,8445/6/024/30/18$ 6,577$ 1.13$ 2,499$ 0.43$ 9,076$ 1.55FIXED
9850T-Shirt Warehouse5,4584/30/079/30/18$ 6,325$ 1.16$ 2,253$ 0.41$ 8,578$ 1.573% ann1x5 Yr; 3%
9876-8Prime Time Realty3,0003/30/1212/31/18$ 5,218$ 1.74$ 1,299$ 0.43$ 6,517$ 2.173% ann1x5 Yr; FMV
9886Yum Yum Donuts1,3089/1/028/31/22$ 3,700$ 2.83$ 565$ 0.43$ 4,265$ 3.269/1/182.5% ann
9860Dollar General15,8928/12/112/28/22$ 12,012$ 0.76$ 5,251$ 0.33$ 17,263$ 1.09FLAT2x5 Yr; 10% each
979024 Hour Fitness20,3899/15/069/30/21$ 34,528$ 1.69$ 5,384$ 0.26$ 39,912$ 1.9610/1/21FIXED3x5 Yr; 10% each
9720ND Temple (NAP)- 01/1/01$ - 0$ - 0$ 2,486$ - 0$ 2,486$ - 0
9738ESI Insurance1,2036/1/028/31/19$ 2,103$ 1.75$ 521$ 0.43$ 2,624$ 2.189/1/183% ann
9744EZ Cash1,2078/1/0612/31/20$ 1,727$ 1.43$ 522$ 0.43$ 2,249$ 1.861/1/19$0.04/SF/ann
9748Laptop Exchange1,8321/5/121/31/22$ 2,297$ 1.25$ 798$ 0.44$ 3,095$ 1.6912/1/183% ann1x5 Yr; FMV
9710Burger King2,7179/17/795/20/20$ 4,605$ 1.70$ 352$ 0.13$ 4,957$ 1.82
9880Dr. Do1,8755/12/149/30/19$ 2,868$ 1.53$ 806$ 0.43$ 3,674$ 1.9610/1/183% ann1x5 Yr; 3%
9870Funtime4,8885/1/179/30/22$ 5,866$ 1.20$ - 0$ - 0$ 5,866$ 1.205/1/18$250 ann
9814Kitten's Place1,2006/15/176/14/22$ 1,248$ 1.04$ 504$ 0.42$ 1,752$ 1.466/15/185% ann1x5 Yr; 5%
5230VACANT1,381
5220VACANT1,361
9840VACANT8,016
9816VACANT1,214
9812VACANT1,220
9810VACANT1,797
9740VACANT2,417
OCCUPIED82%79,206
VACANT18%17,406
TOTAL100%96,612$ 110,762$ 28,394$ 139,156
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Financial Overview 2018 Projected Income & Expense
Base Rent $1,329,148
NNN Collected $344,683
Additional Income $4,307
Income CAM $158,020
Insurance $18,044
Property Tax $195,961
Non CAM $13,852
Management Fee $39,874
Expenses
GROSS INCOME $1,678,138TOTAL EXPENSES $425,751
Notes:
NNN Collected reflects current NNN reimbursements plus new taxes passed through to occupied units (82%) New Prop Tax (195,961) Old Prop Tax (191,138) = 4,823 4,823 x 82% = 3,955
Property Tax estimated by San Bernardino County Tax Assessor website; reflects rate 1% (plus direct assessments) on purchase price Management Fee reflects 3% of base rents Additional Income reflects actual 2016 late fees ($4,107) and NSF fees ($200) Buyer must complete their own due diligence
NET OPERATING INCOME $1,252,387
DEBT SERVICE $390,278
CASH FLOW $862,109
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Assumptions
Start of Analysis 1/1/2018; End of Analysis 1/1/2028 Additional Income increases 3% per year NNN Collected increases 2% per year Operating Expenses increase 2% per year All options exercised Expiring tenants renew on same terms Unit 9828 Bienvenidos Children renews at 3% increase Vacant spaces filled as follows at fair market value:
Unit 9816 leased in 2019 at FMV with 3% annual increases Unit 9812 leased in 2020 at FMV with 3% annual increases Unit 9810 leased in 2021 at FMV with 3% annual increases Unit 9740 leased in 2022 at FMV with 3% annual increases Units 5220, 5230 & 9840 remain vacant (11% Vacancy Factor)
Fair Market Value is $1.53/SF in 2018 and increased 3% per year thereafter, unless Tenant is paying higher than $1.53/SF, in which case Fair Market Value is 3% increase over the previous years rent
New leases are NNN (using $0.43/SF in 2018 and increased 2% per year thereafter) Burger King renews ground lease at $3.50/SF NNN flat (building size, not parcel size)Financing Assumptions
New owner assumes CMBS loan at 4.57% interest only due in 2024; principal balance $9,150,000; annual payment $390,278
Down Payment $9,850,000 Cash-on-cash return calculated as (net cash flow after debt service but before taxes)/(down payment) New owner refinances with same loan terms upon expiration of current loan 1.00% loan assumption fee not included
Financial Overview Assumptions & Financing
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Financial Overview 10 Year Projection
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2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
GROSS POTENTIAL RENT 1,329,148$ 1,374,635$ 1,422,178$ 1,542,172$ 1,681,572$ 1,710,781$ 1,740,759$ 1,771,528$ 1,803,111$ 1,896,967$ 1,930,254$
NNN COLLECTED 344,683$ 357,841$ 371,293$ 387,991$ 408,223$ 416,387$ 424,715$ 433,209$ 441,874$ 450,711$ 459,725$
ADDITIONAL INCOME 4,307$ 4,436$ 4,569$ 4,706$ 4,848$ 4,993$ 5,143$ 5,297$ 5,456$ 5,620$ 5,788$
EFFECTIVE GROSS INCOME 1,678,138$ 1,736,912$ 1,798,040$ 1,934,870$ 2,094,642$ 2,132,162$ 2,170,617$ 2,210,034$ 2,250,441$ 2,353,297$ 2,395,767$
OPERATING EXPENSES 425,751$ 434,266$ 442,951$ 451,810$ 460,847$ 470,064$ 479,465$ 489,054$ 498,835$ 508,812$ 518,988$
NET OPERATING INCOME 1,252,387$ 1,302,646$ 1,355,089$ 1,483,060$ 1,633,796$ 1,662,098$ 1,691,152$ 1,720,980$ 1,751,605$ 1,844,485$ 1,876,779$
DEBT SERVICE 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$
NET CASH FLOW 862,109$ 912,368$ 964,811$ 1,092,782$ 1,243,518$ 1,271,820$ 1,300,874$ 1,330,702$ 1,361,327$ 1,454,207$ 1,486,501$
CAP RATE 6.42% 6.68% 6.95% 7.61% 8.38% 8.52% 8.67% 8.83% 8.98% 9.46% 9.62%
CASH ON CASH 8.33% 8.82% 9.32% 10.56% 12.01% 12.29% 12.57% 12.86% 13.15% 14.05% 14.36%
Sheet1
20182019202020212022202320242025202620272028
GROSS POTENTIAL RENT$ 1,329,148$ 1,374,635$ 1,422,178$ 1,542,172$ 1,681,572$ 1,710,781$ 1,740,759$ 1,771,528$ 1,803,111$ 1,896,967$ 1,930,254
NNN COLLECTED$ 344,683$ 357,841$ 371,293$ 387,991$ 408,223$ 416,387$ 424,715$ 433,209$ 441,874$ 450,711$ 459,725
ADDITIONAL INCOME$ 4,307$ 4,436$ 4,569$ 4,706$ 4,848$ 4,993$ 5,143$ 5,297$ 5,456$ 5,620$ 5,788
EFFECTIVE GROSS INCOME$ 1,678,138$ 1,736,912$ 1,798,040$ 1,934,870$ 2,094,642$ 2,132,162$ 2,170,617$ 2,210,034$ 2,250,441$ 2,353,297$ 2,395,767
OPERATING EXPENSES$ 425,751$ 434,266$ 442,951$ 451,810$ 460,847$ 470,064$ 479,465$ 489,054$ 498,835$ 508,812$ 518,988
NET OPERATING INCOME$ 1,252,387$ 1,302,646$ 1,355,089$ 1,483,060$ 1,633,796$ 1,662,098$ 1,691,152$ 1,720,980$ 1,751,605$ 1,844,485$ 1,876,779
DEBT SERVICE$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278$ 390,278
NET CASH FLOW$ 862,109$ 912,368$ 964,811$ 1,092,782$ 1,243,518$ 1,271,820$ 1,300,874$ 1,330,702$ 1,361,327$ 1,454,207$ 1,486,501
CAP RATE6.42%6.68%6.95%7.61%8.38%8.52%8.67%8.83%8.98%9.46%9.62%
CASH ON CASH8.33%8.82%9.32%10.56%12.01%12.29%12.57%12.86%13.15%14.05%14.36%
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24 Hour Fitness was founded in 1983 and has become a global leader in fitness. With over 400 locations nationwide, as well as 15 international locations, 24 Hour Fitness employs over 20,000 people and hosts over 4 million members.
Dollar General Corporation sells various merchandise products throughout the United States. It operates over 10,500 stores and, in 2007, was acquired by a private equity company who took the company public in 2009. Dollar General remains extremely competitive with both name brand and generic merchandise.
Burger King is the second largest hamburger fast food chain in the world. It serves over 11 million customers daily. With over 13,000 locations in 89 countries, Burger King has sold fast and affordable food since 1954.
Bienvenidos is a foster care program providing community and medical services to individuals and families. It serves over 19,000 parents, children and families, through its 13 Los Angeles area locations.
Liberty Tax is the third-largest income tax preparation chain in the United States providing electronic tax preparation through more than 4,500 locations. The companys eSmart Tax product assists customers with filing taxes online. Liberty Tax also offers courses, loans, audit assistance, and other financial services.
Financial Overview Tenant Summaries
T-Shirt Warehouse is a family owned retail store with locations in Montclair and Pomona. They are also affiliated with Kings Boardshop, a similar clothing store catering to the skate and surfing lifestyle.
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Yum Yum Donuts began in 1971 and has grown to one of the largest donut chains in the nation. In 2004 it purchased Winchells Donuts, the largest donut chain in the West Coast. It continues to serve fresh and inexpensive sweets and has been selling franchises since 1982.
First Dental Group was established in 1995 by University of Southern California graduates. First Dental offers the Western San Bernardino County area a variety of services, including general, restorative and cosmetic dentistry.
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MajorTenants24 Hour Fitness
Dollar General
Burger King
Yum YumDonuts
SUBJECT PROPERTY: Montclair Town Center9710-9886 Central Ave Montclair, CA 91763
Asking Price: $19,500,000
CAP: 6.42%
Price/SF: $202
Price/SF Land: $46.29
Gross Leasable Area: 96,612 SF
Occupancy: 82%
Year Built/Renovated: 1980 & 1986
MajorTenantsDollar Tree
Wells Fargo
Stater Bros
GNC
COMP 1: Walnut Hills Village20677 Amar Rd Walnut, CA 91789
Close of Escrow: June 8, 2016
Sale Price: $15,175,586
CAP: Not Available
Price/SF: $320.61
Price/SF Land: $64.04
Gross Leasable Area: 47,334 SF
Occupancy: 100%
Year Built/Renovated: 1993
Comparable Properties Recent Sales
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MajorTenantsT-Mobile
Fantastic Sams
Wingstop
Panda Express
MajorTenantsGrocery Outlet
Dollar Tree
Papa Johns
Quiznos
COMP 2: Marshalls Plaza2317-2371 Foothill Blvd La Verne, CA 91750
Close of Escrow: July 27, 2016
Sale Price: $14,000,000
CAP: Not Available
Price/SF: $218.75
Price/SF Land: $54.04
Gross Leasable Area: 64,000 SF
Occupancy: 100%
Year Built/Renovated: 1979
Comparable Properties Recent Sales
COMP 3: The Grove3103-3191 N Garey Ave Pomona, CA 91767
Close of Escrow: November 15, 2016
Sale Price: $8,190,000
CAP: 6.43%
Price/SF: $166.32
Price/SF Land: $32.08
Gross Leasable Area: 49,243 SF
Occupancy: 87.8%
Year Built/Renovated: 1986
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SUBJECT PROPERTY: Montclair Town Center9710-9886 Central Ave Montclair, CA 91763
Date Surveyed: 2017
Occupancy: 82%
Average Rent/SF: $1.53
Gross Leasable Area: 96,612 SF
Available SF: 17,406 SF
Lease Type: NNN
Use: Retail
COMP 1: Central Ave Shops9303-9407 Central Ave Montclair, CA 91763
Date Surveyed: 2017
Occupancy: 95.6%
Asking Rent/SF: $3.50
Gross Leasable Area: 19,950 SF
Available SF: 897 SF
Lease Type: NNN
Use: Retail
MajorTenants
Starbucks
AT&T
Jersey Mikes
Burgerim
Comparable Properties 1 Mile Rent Survey
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MajorTenants24 Hour Fitness
Dollar General
Burger King
Yum YumDonnuts
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COMP 3: Central Ave Retail9885 Central Ave Montclair, CA 91763
Date Surveyed: 2017
Occupancy: 71.66%
Asking Rent/SF: $1.75
Gross Leasable Area: 3,500 SF
Available SF: 992 SF
Lease Type: NNN
Use: Retail
Comparable Properties 1 Mile Rent Survey
Major Tenants
Metro PCS
Dominos
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MajorTenants
CVS Pharmacy
Jack in the Box
COMP 2: Build to Suit Retail Pads4601 Holt Blvd Montclair, CA 91763
Date Surveyed: 2017
Occupancy: 0%
Asking Rent/SF: $2.00
Gross Leasable Area: 6,000 SF
Available SF: 6,000 SF
Lease Type: NNN
Use: Retail
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Montclair is a city in the Pomona Valley in southwestern San Bernardino County. Montclair is bordered by Pomona to the west, Claremont and Upland to the north, Ontario to the East, and Chino to the South. Montclair is part of the Inland Empire region, a metropolitan area in Southern California.
Market Overview Demographic Summary
25
Montclair Town CenterDemographic Information: 1 Mile Radius 3 Mile Radius
Population 23,823 198,133
Hispanic or Latino 71% 64%
Average Household Income $59,004 $63,650
Inland Empire
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Broker: Eric TreibatchBroker Corp ID No. 01187117(818) 708-0888 [email protected]
Agent:Edward ChapmanLicense No. CA 01999563(818) 708-0888 [email protected]
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