roscoe blvd vallarta supermarket and ......westfield topanga & the village roscoe orangeline...
TRANSCRIPT
OFFERING MEMORANDUM
21555 & 21627R O S C O E B L V D
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ROSCOE BLVD .ROSCOE BLVD .
TWO TRIPLE NET OPPORTUNITIESTWO TRIPLE NET OPPORTUNITIES
VALLARTA SUPERMARKET AND CALGROVE RENTALSVALLARTA SUPERMARKET AND CALGROVE RENTALS
TABLE OF CONTENTS
INVESTMENT SUMMARY
INVESTMENT ANALYSIS
AREA OVERVIEW
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Representative Photo 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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
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ROSCOE BLVD .ROSCOE BLVD .
Vallarta• Vacant Exercising First Option
Built 201121535 Roscoe Blvd.
81 Units | 103,434 RSF
Built 201421515 Roscoe Blvd.
81 Units | 103,927 RSF
21901 Roscoe Blvd.
34 Units | 28,368 RSF
21840 Schoenborn St.
19 Units | 14,724 RSF
21801-21834 Roscoe Blvd.
148 Units | 169,856 Lot Size
21721 Roscoe Blvd.
48 Units | 48,029 RSF
Calgrove Rentals
21707 Roscoe Blvd.
35 Units | 20,260 RSF
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
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T H E O F F E R I N G
Collier’s International is exclusively appointed by the owners to sell the property located at 21555 Roscoe Boulevard in the city of Canoga Park. The tenant Vallarta Supermarket (Dark) has been operating at this location since 1999 with a 20-year lease which will expire on December 31, 2019. In early 2019 Vallarta moved its store to a new location a few blocks away to the west on Roscoe Blvd. However, Vallarta exercised its first 5-year option which starts January 1, 2020. The property is zoned C2 & P1 with Tier 2 (TOC) and is located in opportunity zone. The lot is 2.37 Acres which makes this an ideal development opportunity. Furthermore, this property can be purchased along with the adjacent property at 21627 Roscoe Boulevard which is occupied by Calgrove Rentals.
Calgrove Rentals has occupied this location since 2017. The original term of 10+ years will expire on October 1, 2027. This property is also zoned C2 & P1 with Tier 2 (TOC) and located in opportunity zone. The lot size is 38,153 SF with a building size of 4,752 SF. The combination of these two properties can potentially lead to one of the biggest development opportunities in the San Fernando Valley. In addition, this investment allows an investor/developer to maintain a solid income while working on the entitlement of the project(s).
V A L L A R TA S U P E R M A R K E T
C A L G R O V E R E N TA L S
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Canoga ParkCanoga ParkWinnetkaWinnetka
Warner CenterWarner Center
ChatsworthChatsworth
Woodland HillsWoodland Hills
C I T Y H I G H L I G H T S
• Roscoe Orange Line Station
• Westfield Topanga & The Village
• Warner Center
• Pierce College
• Home Depot
• Triple Net Leases
• Huge Lots - 103,310 SF and 38,153 SF
• Zoned C2 & P1
• Located in an Opportunity Zone
• Located in Transit Priority Area
• TOC - Tier 2
• Potential +/- 379 Unit Apartment Project
I N V E S T M E N T H I G H L I G H T S
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
I N V E S T M E N T S U M M A R Y
BUILDING INFORMATION
Property Address: 21555 Roscoe Blvd. Canoga Park, CA 91304
Price: $12,000,000
Cap Rate: 3.5%
Tenant: VALLARTA SUPERMARKET (DARK)
Year Built: 1999
Building SF: 26,087 SF
Price Per SF: $460.00
Lot Size: 103,310 SF (2.37 Acres)
APN: 2779-036-022
Zoning: C2 68,730 SF & P1 34,580 SF
Original Term: 20 Years
Current Rent: $35,000/Month Starting 1/1/2020
Lease Commencement: January 1, 1999
Lease Expiration: December 31, 2019
Lease Remaining: 4 x 5-Year Options
TOC: Tier 2
Opportunity Zone: Yes
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
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I N V E S T M E N T O V E R V I E W
LEASE SUMMARY
Tenant: VALLARTA SUPERMARKET
Lease Commencement: January 1, 1999
Lease Expiration: December 31, 2019
Lease Remaining: Starting 1st Option on January 1, 2020
Renewal Options: 4x 5-Year Options
Rent Increases: Year 6 and Options
Lease Type: Absolute Triple Net
Use: Retail Supermarket
Property Taxes: Tenant Responsible
Insurance: Tenant Responsible
Common Area: Tenant Responsible
Roof & Structure: Tenant Responsible
Repairs & Maintenance: Tenant Responsible
HVAC: Tenant Responsible
Utilities: Tenant Responsible
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
RENT ROLL
Base Rent - Year 1 - 5 $20,000/month
Year 6 - 10 $25,000/month
Year 11 through 20 $26,000/month
Option 21 - 25 $35,000/month
Option Year 26-39 Market Rent
I N V E S T M E N T S U M M A R Y
BUILDING INFORMATION
Property Address: 21627 Roscoe Blvd., Canoga Park, CA 91304
Price: $4,000,000
Cap Rate: 4.9%
Tenant: CALGROVE RENTALS
Year Built: 1969
Building SF: 4,752 SF
Price Per SF $841.75
Lot Size: 38,153 SF (0.88 Acres)
APN: 2779-036-001
Zoning: C2 26,215 SF & P1 11,938
Original Term: 10 Years and 8 months
Current Rent: 16,443.95/month
Lease Commencement: March 1, 2017
Lease Expiration: October 1, 2027
Lease Remaining: 8+ Years of the Original Term
TOC Tier 2
Opportunity Zone Yes Tenant has the First Right of Refusal
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
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I N V E S T M E N T O V E R V I E W
LEASE SUMMARY
Tenant: CALGROVE RENTALS
Lease Commencement: March 1, 2017
Lease Expiration October 1, 2027
Lease Remaining: 8+ Years of the Original Term
Renewal Options: 2 x 5-Year Options
Rent Increases: 3% Annually
Lease Type: Absolute Triple Net
Use: Retail / Auto Dealership
Property Taxes: Tenant Responsible
Insurance: Tenant Responsible
Common Area: Tenant Responsible
Roof & Structure: Tenant Responsible
Repairs & Maintenance: Tenant Responsible
HVAC: Tenant Responsible
Utilities: Tenant Responsible
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
RENT ROLL
Base Rent $15,500/month
Current Rent $16,443.95/month
Rent Increases 3% Annually of the Original Term
Year 12 Fair Market Value no less than 103% 0f Base Rent
Year 13-16 3% Increase Annually
Year 17 Fair Market Value no less than 103% of Base Rent in Lease Year 16
Year 18-21 3% Increase Annually
Vallarta Supermarkets Inc. is an American supermarket chain. It is based in Sylmar, Los Angeles, California, and as of November 2016 had 50 locations in California. The chain caters to the growing Latino population of California and sells items usually not found in more Anglo-oriented American supermarkets. The chain has stores primarily in southern California, but has recently expanded northward with three sites in Fresno. The company employs approximately 8,000 employees. Vallarta Supermarkets intends to positively impact 100 communities by the year 2030. That means opening new stores at a rate of 3 locations per year. As the business has grown, great customer service and providing the highest quality products at great prices has remained their constant goal. For over 25 years Vallarta Supermarkets has maintained an image character-ized by family values, service, cleanliness, beautiful decor, a pleasant shopping ambiance and a large variety of products in all departments. Vallarta Supermarkets offers its clientele exceptional quality, outstanding service and great prices that keep them coming back to the stores. The Gonzalez partners meet weekly to discuss business strategies and how to continue improving customer service.
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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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
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Calgrove Equipment Rentals started at a lot on the 5 Freeway exiting Calgrove Blvd. with a couple of bobcat skid steers. Thanks to our loyal customers’ help and the will to proceed with quality equipment and one-on-one relationships, they grew the family business with a fleet that would help meet your rental needs. Every day, they practice on fully perfecting the rental experience. From your first phone call to the office to the delivery at the job site, they are a hundred percent devoted.
Calgrove is a family owned and operated rental yard that prides itself on quality equipment and supreme service. While they are not the only rental equipment business in Southern California, but they are the only one that will go the extra mile for the success of our customers.
They providing a wide selection of quality equipment & Supplies such as:Excavators, skid steer, high reach equipment, and other high-powered machines are essential to any commercial contractors, especially those in the construction industry.
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C I T Y O V E R V I E W
Canoga Park is a unique whirlwind when it comes to community, diversity, conveniences, and atmosphere. With great public schools and numerous community parks, Canoga Park offers a family-friendly environment many residents appreciate.
Canoga Park is an urban area in the San Fernando Valley region of Los Angeles, and is just 26 miles northwest of Downtown LA, a 35-minute commute by car. With great proximity to LA and everything that surrounds it, Canoga Park remains a nice reprieve from the hustle and bustle of big city living. Though the city is highly populated, the suburban feel makes this city feel like home.
Various restaurants and retailers reside around town, but Canoga Park is mainly residential. However, at the south end of town, you’ll find the best of the best when it comes to shopping and dining at Westfield Topanga!
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
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WARNER CENTER
Subject Property
ROSCOE ORANGELINE STATION
WESTFIELD TOPANGA & THE VILLAGE
ROSCOE ORANGELINE STATION
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Top Employers # of Employees1 Mile 3 Miles 5 Miles
Office/Administrative Support 2,549 12,914 27,752Sales/Related 2,216 11,482 24,454Food Preparation/Serving Related 2,073 7,118 12,476Management 1,506 10,326 24,736Production 1,325 4,559 8,306Construction/Extraction 1,307 5,788 10,287Building/Grounds Cleaning/Maintenance 1,288 5,927 9,945Transportation/Material Moving 1,233 4,571 8,760Personal Care/Service 1,179 6,138 12,314Education/Training/Library 954 4,951 11,330
Population 1 mile 3 miles 5 miles
Total Population 40,666 205,066 432,315
Male 49.62% 49.61% 49.20%
Female 50.38% 50.39% 50.80%
Race & Ethnicity 1 mile 3 miles 5 miles
White 45.12% 50.77% 55.36%
Black 6.20% 5.37% 5.20%
American Indian / Alaska Native 0.81% 0.56% 0.52%
Asian 15.39% 16.69% 15.73%
Hawaiian / Pacific Islander 0.19% 0.13% 0.14%
Other 27.25% 20.98% 17.46%
Two or More Races 5.04% 5.50% 5.59%
Income 1 miles 3 miles 5 miles
Average Household Income $81,788 $97,964 $108,138
Median Household Income $61,476 $74,175 $77,571
Housing 1 mile 3 miles 5 miles
Median Housing Value $527,056 $574,626 $642,858
Median Year Structure Built 1971 1971 1971
Owner Occupied 39.85% 51.35% 56.31%
Renter Occupied 60.15% 48.65% 43.69%
D E M O G R A P H I C S
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. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2019. All rights reserved.
CANOGA PARK LIBRARY
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