DANA POINT MONTESSORI · dana point montessori. 33501 del obispo st. / dana point, ca 92629....

DANA POINT MONTESSORI3 3 5 0 1 D E L O B I S P O S T . / D A N A P O I N T , C A 9 2 6 2 9

OFFERING MEMORANDUM


OFFERING MEMORANDUM DISCLAIMER

This Confidential Offering Memorandum (“Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement (the “Confidentiality Agreement”) signed by you and constitutes part of the Confidential Information (as defined in the Confidentiality Agreement). It is being given to you for the sole purpose of evaluating the possible investment in 123 Address Lane, City, State (the “Project”), and is not to be used for any other purpose or made available to any other party without the prior written consent of Alexander Development Group (“Managing Member”), or its exclusive broker, Cushman & Wakefield. This Memorandum was prepared by Cushman & Wakefield based primarily on information supplied by Managing Member. It contains select information about the Project and the real estate market but does not contain all the information necessary to evaluate the Project. The financial projections contained herein (or in any other Confidential Information) are for general reference only. They are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a legal analysis of such documents. While the information contained in this Memorandum and any other Confidential Information is believed to be reliable, neither Cushman & Wakefield nor Managing Member guarantees its accuracy or completeness. Because of the foregoing and since the investment in the Project is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely to facilitate the prospective purchaser’s investigation, must make its independent investigations, projections and conclusions regarding the investment in the Project without reliance on this Memorandum or any other

Confidential Information. Although additional Confidential Information, which may include engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers and environmental experts. Neither Cushman & Wakefield nor Managing Member guarantees the accuracy or completeness of the information contained in this Memorandum or any other Confidential Information provided by Cushman & Wakefield and Managing Member. Managing Member expressly reserves the right, at its sole discretion, to reject any offer to invest in the Project or to terminate any negotiations with any party at any time with or without written notice. Managing Member shall have no legal commitment or obligations to any prospective investor unless and until a written sale agreement has been fully executed, delivered and approved by Managing Member and any conditions to Managing Member’s obligations thereunder have been satisfied or waived. Managing Member has retained Cushman & Wakefield as its exclusive broker and will be responsible for any commission due to Cushman & Wakefield in connection with a transaction relating to the Project pursuant to a separate agreement. Cushman & Wakefield is not authorized to make any representation or agreement on behalf of Managing Member. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with an investment in the Project if such claims arise from acts of such prospective investor or its broker. This Memorandum is the property of Managing Member and all parties approved by Managing Member and may be used only by parties approved by Managing Member. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement.

CUSHMAN & WAKEFIELD / DANA POINT MONTESSORI2

Executive Summary . . . .04

Property Summary . . . . .07

Market Overview . . . . . . .12

Financial Analysis . . . . . . .15

01020304

TABLE OF CONTENTS

For more information, please contact:

JOSEPH LISINGCapital Markets - Retail+1 949 372 [email protected]. CA 01248258

CUSHMAN & WAKEFIELD-IRVINE18111 Von Karman Ave., Suite 1000Irvine, CA 92612

cushmanwakefield.com

3

EXECUTIVE SUMMARYRARE SOUTH ORANGE COUNTY INVESTMENT OPPORTUNITY IN AN AFFLUENT AREA

f Newly Renovated Montessori, Brand New 25 Year NNN Ground Lease

f The Subject Property is Adjacent to an Albertsons Anchored Center with Savon Drugs, US Bank, SuperCuts, Circle K, Subway and Many More

f Just Minutes from the Capistrano Valley Plaza Shopping Center Whose Tenants Include Costco, Smart & Final Extra!, PetsMart, Staples, Big 5 Sporting Goods and Many More

f Average Household Income is Well Above the National Average ($113,476 Within Five-Miles)

EXCEPTIONAL RETAIL LOCATION IN A RESORT TOWN

f Less than 2 Miles Away from Doheny State Beach Which Brings in Over 1.4 Million Visitors a Year

f Dana Point is Along the Main Route for California Travelers to/from San Diego & Mexico and is a Popular Stop on Interstate 5 (267,000+ VPD)

f Dana Hills High School is Located Just Blocks from the Subject Property (2,715+ Students)

f Subject Property is Located 1 Mile from the Dana Point Harbor is the $200 Million Revitalization Which Includes Two New Hotels (260+ Rooms) and a Parking Structure with Over 4,800 Spaces

f Dana Point is a Major Tourist Destination with Dozens of High-end Resorts, Such as the St. Regis, The Ritz Carlton, and Marriott Located Less than Two Miles Away is the Ohana Music Festival and the Doheny Blues Festival Which Bring in Thousands of Visitors Per Year

01


$113,476 AVERAGE HOUSEHOLD INCOME

EXECUTIVE SUMMARY 5

PROPERTY SUMMARYPROPERTY HIGHLIGHTS

Type Single Tenant

Building Sq. Ft. 3,346 Sq. Ft.

Stories One (1)

Year Built 1968

Parking 15 Surface Spaces

Land Acres ±0.31 Acres

Approx. Land Sq. Ft. ±13,503 Sq. Ft.

Zoning Commercial

Parcel 673-185-12

02

PROPERTY SUMMARY 7

SITE MAP

jThunderbird Park

Opportunities for Learning

Dana Point Montessori PreschoolStonehill Dr

Del

Obi

spo

St

Pal

o A

lto S

t

Perch Dr

Via

Len

ita

Ast

oria

St

tS r uS gi B

Eastwind Dr

Calle Jardin

Seaside Dr

Bre

mer

ton

St

Mainsail Dr

Cor

al R

each

St

White Sands St

Rusty Anchor St

Mar

ina

Vis

ta D

r

Bowsprit Dr

Goldenspring Dr

Blue Sail Dr

Ocean Hill Dr

Windham Dr

Val

ley

Vie

w C

t

Bayport W

ay

Tuna Dr

Leeward Dr

Bre

ezy

Pl

Via Lagos

Saltwater Dr

Ato

ll D

r

Starboard Dr

Ree

f Bay

Pl

Mes

a V

ista

Dr

Peq

uito

Dr

Irons

ides

Dr

Bridgehampton D

r

Rocky Beach Ln

Breakwater Dr

Cap

e B

ay P

lSte

rn W

ave

Pl

Tide

wat

er D

r

Bridgewater Ln

Breezewood St

Sur

f Sho

al P

l

Mainsail Way

Sun

ridge

Dr

Sco

ttys

Cov

e D

rP

aseo

Mol

inos

Nan

cy J

ane

Ct

Sea Bright Dr

Sur

fsid

e D

r

San

dy B

each

Pl

Admiral Way

Big

Sur

St

Bre

mer

ton

St

Ast

oria

St


PROPERTY SUMMARY 9

REGIONAL MAP

j

Monarch Beach Golf Links

DANA POINT

SAN JUAN CAPISTRANO

CAPISTRANO BEACH

§̈¦5

§̈¦5

Nigu

el R

d

Del O

bisp

o St

Selva Rd

Stonehill Dr

Golden Lantern S

tCam

ino

Capist

rano

Pacific Coast Hwy

Camino del Avion Golde

n La

nter

n

Dohe

ny P

ark

Rd

Camin

o de

Est

rella

Del Prado AveVictoria Blvd

Via Canon

tS nretnaL nedloGUV1

Alipaz

St

Beach Rd

La Cresta Dr

Dana Dr

La Novia Ave

Via

de A

gua

Old

Ran

ch R

d

Valle

Rd

Calle Abril

Via Cali

forn

ia

Mar

bella

Camino las Ramblas

San Juan Creek R

d

Calle Mayo

Pal

o A

lto S

t

Via Verde

Niguel

Shore

s Dr

Dana Point Harbor Dr

Calle Portola

Calle

Rea

l

Calle Juno

Via

La J

olla

Via del Rey

Connemara Dr

Selva Rd

Calle Aspero

tS nret naL t el oi V

Via Positiva

Cerro Rebal

Santa Clara Ave

Acapulco Dr

Via C

apri

Pas

eo A

dela

nto

Sea Bright Dr

Camino del Avion

evA atsi V al uhC

Avenida Calita

Park Rd

Cam

ino Capistrano

Camino Mira Costa

Cal

le M

iram

ar

Shor

elin

e D

r

Beach Rd

Pacific Ocean

PROPERTY SUMMARY 11

03MARKET OVERVIEWDANA POINT, CALIFORNIA

Dana Point is a city located in Southern Orange County, California. The population was 33,351 at the 2010 census. It has one of the few harbors along the Orange County coast, and with ready access via State Route 1, it is a popular local destination for surfing. Dana Point is home to 35,110 residents and is characterized by nearly seven miles of prominent coastal bluffs and rolling hills along the Pacific Ocean.

Dana Point Harbor provides slips and mooring for over 2,500 boats along with over 50 specialty shops and restaurants. The Harbor attracts thousands of visitors annually for shopping, sport fishing, walking, bicycling, parasailing and a host of recreational activities. The Dana Point Harbor is also considered the gateway to Doheny State Park, one of California’s most popular beach facilities.

DANA POINT REVITALIZATION PROJECT

Dana Point Harbor Partners, LLC is planning to construct two hotels, a 136-room affordable hotel and a 130-room boutique hotel. The develop-ment program proposes a total of 4,880 parking spaces for the hotel and the commercial core, including existing parking plus 2,503 new parking spaces. DPHP is requesting a subsidy of up to $20 million from the County’s harbor reserve to construct the commercial two- or three-level core parking struc-ture and the hotel podium parking structure.

DANA POINT REVITALIZATION PROJECT


DEMOGRAPHICS

1 Mile 3 Mile 5 MileOrange County

Households

2020 Total Population 16,132 80,411 156,564 3,206,833

2025 Population 16,145 80,735 157,992 3,328,956

Pop Growth 2020-2025 0.08% 0.40% 0.91% 3.67%

Average Age 42.40 43.30 42.50 38.1

Households

2020 Total Households 6,447 31,113 58,370 1,078,321

HH Growth 2020-2025 0.09% 0.36% 0.79% 4.40%

Median Household Inc $89,772 $105,459 $113,476 $87,262

Avg Household Size 2.50 2.50 2.60 3

2020 Avg. HH Vehicles 2.00 2.00 2.00 2

Housing

Median Home Value $794,848 $905,295 $916,455 $765,497

Median Year Built 1976 1980 1982 1972

Dana Point, CA

MARKET OVERVIEW 13

04FINANCIAL ANALYSIS

OFFERING SUMMARY

Property Name Dana Point Montessori

Property Address33501 Del Obispo St., Dana Point, CA 92629

Assessor’s Parcel Number 673-185-12

Current Occupancy 100%

Year Built 1968

Year Renovated 2020

Gross Leasable Area (GLA) ±3,346 Square Feet

Lot Size ±0.31 (±13,503 Square Feet)

PRICING

Price $2,300,000

Cap Rate 4.63%

NOI $106,656

Price Per Square Foot $687.38

LEASE SUMMARY

Tenant Dana Point Montessori

Lease Type NNN

Lease Guarantor Personal Guarantee

Roof & Structure Tenant Responsibility

Original Lease Term 25 Years

Lease Commencement 3/14/2020

Lease Expiration 2/28/2045

Current Annual Rent $106,656

Rental Increases 2% Every Two Years

Options to Renew Four 5-Year Options

Right of First Refusal Yes; 14 Days

FINANCIAL ANALYSIS 15

FINANCIAL ANALYSIS 17


For more information, please contact:

JOSEPH LISINGCapital Markets - Retail+1 949 372 [email protected]. CA 01248258

CUSHMAN & WAKEFIELD-IRVINE18111 Von Karman Ave., Suite 1000Irvine, CA 92612

cushmanwakefield.com

View Site Specific COVID-19 Prevention Plan

©2020 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE.

http://www.cushwakebayarea.com/covid/Site_Specific_COVID-19_Prevention_Plan.pdf

DANA POINT MONTESSORI · dana point montessori. 33501 del obispo st. / dana point, ca 92629....

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