FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue |...

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Located In An Opportunity Zone FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Oered By: Tom Power EVP & Managing Partner [email protected] 415.908.4942 CA Lic. No. 01069665 SRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Transcript of FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue |...

Page 1: FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Off ered By: Tom Power EVP & Managing Partner tom.power@srsre.com 415.908.4942

Located In An

Opportunity Zone

FOR SALE - Oakland Airport Hotel8480 Edes Avenue | Oakland, CA

Off ered By:

Tom PowerEVP & Managing [email protected] Lic. No. 01069665 SRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Page 2: FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Off ered By: Tom Power EVP & Managing Partner tom.power@srsre.com 415.908.4942

This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM

Buyer understands and agrees, upon receipt of any and all documents and other information from Owner and Broker, that Owner and Broker do not warrant the accuracy of such materials, express or implied, but intends only to supply the Buyer with materials which are in Owner’s possession, to be reviewed and evaluated at Buyer’s discretion, including but not limited to any maps, diagrams or schematics, of the Property, including, without limitation: (i) the quality, nature, adequacy and physical condition and aspects of the Property, including but not limited to, elevations, structural elements, foundation, roof, appurtenances, access, landscaping, parking facilities and the electrical, mechanical, HVAC, plumbing, sewage and utility systems, facilities and appliances, if any; (ii) the quality, nature, adequacy and physical condition of the soils, geology and any groundwater; (iii) the existence, quality, nature, adequacy and physical condition of utilities serving the Property, if any; (iv) the development potential of the Property and the Property’s use, merchantability, or fi tness or the suitability, value or adequacy of the Property for any particular purpose; (v) the zoning or other legal status of the Property or any other public or private restrictions on use of the Property; (vi) the compliance of the Property or its operation with any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or quasi-governmental entity or of any other person or entity; (vii) the presence of hazardous materials on, under or about the Property or the adjoining or neighboring property; (viii) the quality of any labor and materials used in any improvements on the Property, if any; and (ix) the condition of title to the Property.

Owner and Broker shall not be liable for Buyer’s reliance on the accuracy of the information contained in any such documents. Buyer shall rely on Buyer’s own due diligence on the Property prior to close of escrow. Owner is providing these documents for reference purposes only. It is Buyer’s sole responsibility to verify the veracity of the documents provided and confi rm the condition of the Property and any improvements thereon. Buyer expressly waives any and all claims against Owner and Broker for any cause of action arising from Buyer’s reliance on the documents and information provided by Owner.

All information contained in the documents provided is confi dential, and shall not be disclosed by Buyer without the prior written consent of Owner. Notwithstanding the foregoing, Buyer may disclose information contained in the documents to Buyer’s attorneys, lenders, accountants or other advisors and consultants (“Authorized Third Parties”), provided such Authorized Third Parties are similarly advised of the documents’ confi dential nature.

SRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Property Information Disclaimer8480 Edes Avenue | Oakland, CA

Page 3: FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Off ered By: Tom Power EVP & Managing Partner tom.power@srsre.com 415.908.4942

This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM

list of 55 international and domestic destinations. It’s the closest airport to the region’s top tourism and entertainment venues and the closest airport for most local residents. The Port of Oakland anticipates annual passenger traffi c at OAK should increase 12-20 percent to between 14 million and 15 million passengers by 2022.

OAKLAND-ALAMEDA COLISEUM COMPLEX

The City of Oakland and the County of Alameda, who jointly own the 130-acre Coliseum Complex (OACC), are considering selling the site to the Oakland Athletics Baseball Club (A’s). The current plan is for the A’s to build a new baseball park adjacent to the Bay closer to downtown Oakland. As part of that deal, the A’s may have the right to buy the OACC and redevelop the site into housing, offi ce, retail and recreation. Negotiations between the A’s and the City/County are on-going.

OFFERING:

• Price: $28,000,000

• Flag Status: No Flag

• No. of Rooms: 285

• Price/Room: $98,246

• 2018 Occupancy: 63.3%

• PLEASE DO NOT DISTURB HOTEL EMPLOYEES

8480 Edes Avenue, Oakland, California, consists of a 285 room hotel. The property is located in the Oakland Airport sub-market, just off Highway 880, with close proximity to the Oakland-Alameda Coliseum complex. Nearby hotel properties include Comfort Inn & Suites, Radisson Hotel, Quality Inn, La Quinta Inn, and Days Hotel.

PROPERTY HIGHLIGHTS • Located In An Opportunity Zone

• Zoning: CR-1 (Regional Commercial)

• Land Area: 154,202 SF (3.54 acres)

• Building Area: 69,299 SF (2-level and 3-level)

• 245 parking spaces

• Adjacent to Highway 880 northbound exit to Hegenberger Road and Oakland Coliseum

• Three miles to Oakland International Airport

• Built in 1984

OAKLAND INTERNATIONAL AIRPORT

Owned and operated by the Port of Oakland, Oakland International Airport (OAK) is California’s fourth largest airport, with more than 11 million passengers passing through its gates every year. Today, 13 airlines offer nonstop service to a growing

SRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Property Summary & Off ering8480 Edes Avenue | Oakland, CA

Page 4: FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Off ered By: Tom Power EVP & Managing Partner tom.power@srsre.com 415.908.4942

This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COMSRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Aerial View8480 Edes Avenue | Oakland, CA

Page 5: FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Off ered By: Tom Power EVP & Managing Partner tom.power@srsre.com 415.908.4942

This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COMSRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Trade Area Overview8480 Edes Avenue | Oakland, CA

Page 6: FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Off ered By: Tom Power EVP & Managing Partner tom.power@srsre.com 415.908.4942

This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COMSRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Site Survey8480 Edes Avenue | Oakland, CA

Page 7: FOR SALE - Oakland Airport Hotel€¦ · FOR SALE - Oakland Airport Hotel 8480 Edes Avenue | Oakland, CA Off ered By: Tom Power EVP & Managing Partner tom.power@srsre.com 415.908.4942

This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM

DISCLAIMER

This Off ering Memorandum has been prepared by SRS Real Estate Partners - Northwest, LP (SRS). The informa on contained herein was oba ned from sources deemed to be reliable. However, SRS makes no guarantees, warran es, or representa ons as to

the completeness or accuracy thereof.

Off ered By:

Tom PowerEVP & Managing Partner | SRS Real Estate Partners415.908.4942 | [email protected] License No. 01069665

SRS Real Estate Partners - San Francisco100 Pine Street, Suite 1550San Francisco, CA 94111SRSRE.COM/SFBAYAREA

OAKLAND-ALAMEDACOLISEUMCOMPLEX

OaklandInternational

Airport

SRS Real Estate Partners | 100 Pine Street, Suite 1550 | San Francisco, CA 94111

Contact Information8480 Edes Avenue | Oakland, CA