Offering Memorandum · FINANCIAL OVERVIEW 4-5 PROPERTY PHOTOGRAPHS 6-9 FLOOR PLANS 10-13 TECH...
Transcript of Offering Memorandum · FINANCIAL OVERVIEW 4-5 PROPERTY PHOTOGRAPHS 6-9 FLOOR PLANS 10-13 TECH...
620 Eddy Street I San Francisco, CA
Offering Memorandum
OFFERING MEMORANDUM | 620 EDDY STREET P.2 COLLIERS INTERNATIONAL
Table of ContentsOFFERING SUMMARY 3
FINANCIAL OVERVIEW 4-5
PROPERTY PHOTOGRAPHS 6-9
FLOOR PLANS 10-13
TECH COMPANIES 14
PUBLIC TRANSPORTATION 15
LOCAL & REGIONAL MAP 16
AERIAL OF SUBJECT PROPERTY 17
SHOWING SCHEDULE
- Tuesday April 17, 2018 from 9:30 to 11:00 am
BRAD LAGOMARSINO1 415 288 [email protected] Lic. 01058500
JAMES DEVINCENTI1 415 288 [email protected] Lic. 00951916
www.theDLTeam.com
Colliers International
OFFERING MEMORANDUM | 620 EDDY STREET P.3 COLLIERS INTERNATIONAL
The subject property located at 620 Eddy Street is a 35-unit concrete building built on a concrete foundation. Constructed in 1910 the structure is approximately 17,546 square feet and occupies a mid-block lot between Polk Street & Larkin Street in the Tenderloin neighborhood of San Francisco.
A lot of history remains preserved in this area with many old hotels and apartment buildings. Restaurant gems, ethnic offerings unlike any other place in the city, are sprinkled throughout. Civic Center, Market Street and the busy Commercial corridor on Van Ness Ave are within a couple of blocks and walking distance. Abundant transit lines pass through the neighborhood, allowing residents to get anywhere in the city due to it’s core location. The building shows well and many of the apartments have been remodeled. The unit mix in the building consists of four (4) efficiencies, twenty six (26) studios, and five (5) one bedroom apart-ments.
For the investor, this property provides the opportunity to acquire a well maintained apartment building in the Van Ness Civic Center/Tenderloin neighborhood of San Francisco with upside appreciation potential in rents.
Property Information: Address: District:
Property:APN:
Building Square Feet:Lot Size:
Constructed: Zoning:
Building Systems:Foundation:
Structure: Façade:
Rear of Building: Roof Composition & Age:
Electrical Service: Circuit Breakers
Gas Service: Fire Protection System:
Fire Escapes:Heat Source:
Hot Water:
Plumbing:
Common Areas:Door Entry System:
Entrance: Lobby Lighting:
Lobby & Common Areas:Garbage: Laundry:Storage: Elevator:
620 Eddy StreetTenderloinThirty Five (35) unit apartment building0740-00917,546 Sq Ft (Floor Plans)6,2981910RC4
Concrete FoundationMasonryStucco exteriorStucco Rolled on Composite (10 years est.)Separately metered200 amp electrical service with circuit breakers in units/basementSeparately metered Hard wired smoke detectors & alarm sys-tems in hallways and in some unitsFront of buildingSteam heat radiatorsPeerless boiler, separate water heaters & two 119 gallon storage tanks)Mostly copper and some galvanized
Key systemmarble entrywayModern decorative light fixturesCarpetRear of building2 washers/dryers (leased)3 storage units (included in rents)DC cable operated
Offering Summary
Building Composition:Unit Mix:
Kitchens:
Bathrooms:
Bedrooms:
Four (4) Efficiency/1 bath units, Twenty Six (26) studio/1 bath units & five (5) one bedroom/one bath units
Granite countersGas ranges/ovens with hood ventsStainless steel sinksOver-under refrigerators Cherry cabinetry Hardwood & Pergo floors
Geometric sheet vinyl flooringCeramic countersTub/shower combination with porcelain tile surrounds Mirrored sink cabinetsVanity/pedestal sinksshower curtains
Hardwood & Pergo floorsWalk-in closetsAluminum blinds
OFFERING MEMORANDUM | 620 EDDY STREET P.4 COLLIERS INTERNATIONAL
LOCATION: 620 EDDY STREET, SAN FRANCISCO, CA 94109
Financial Overview
Sale Price $7,250,000Down Payment $2,900,000
Number of Units 35
Price/Unit $207,143
*Gross Square Feet 17,546
Price/Square Foot $413
CAP Rate-Current 4.51%
CAP Rate-Pro Forma 7.09%
GRM-Current 12.34
GRM-Pro Forma 9.28
Year Built 1910
Lot Size 6,298
ANNUAL GROSS INCOMEFINANCIAL SUMMARY
Loan Amount $4,350,000
Loan Type Proposed New
Interest Rate 4.45%
Program 3 Year Interest Only
DCR 1.69
Loan to Value 60%
Unit Type # of Units Current Rents Monthly Income Market Rents Monthly Income
Efficiency/1 Bath 4 $998-$1,600 $5,359 $1,600 $6,400
Studio/1 Bath 26 $604-$1,732 $35,480 $1,725 $44,850
1 Bedroom/1 Bath 5 $797-$2,141 $6,888 $2,495 $12,475
Total 35 Total Monthly Income for Units $47,726 $63,725
SCHEDULED INCOME
Current Market
Gross Potential Income $587,506 $781,291
Gross Potential Rent $572,715 $764,700
Vacancy (3.5%) $20,045 $26,765
AGI $567,461 $754,526
Expenses $240,276 $240,276
NOI $327,185 $514,250
Expense Categories Current Exp/Unit % of Exp Market Exp/Unit % of Exp
Property Taxes $84,992 $2,428 35% $84,992 $2,428 35%
Insurance $12,124 $346 5% $12,124 $346 5%
Workers Comp Insurance $1,858 $53 1% $1,858 $53 1%
Building Systems $11,472 $328 5% $11,472 $328 5%
Repairs & Maintenance $26,250 $750 11% $26,250 $750 11%
Onsite Personnel $22,103 $632 9% $22,103 $632 9%
Administrative Services $15,946 $456 7% $15,946 $456 7%
Vendor Services $11,184 $320 5% $11,184 $320 5%
Telephone $653 $19 0% $653 $19 0%
Electricity $3,073 $88 1% $3,073 $88 1%
Gas $12,717 $363 5% $12,717 $363 5%
Scavenger/Refuse/Recycling $12,965 $370 5% $12,965 $370 5%
Water & Sewer $23,843 $681 10% $23,843 $681 10%
License, Fees, Tax Authority $1,098 $31 0% $1,098 $31 0%
Total Operating Expenses $240,276 $6,865 100% $240,276 $6,865 100%
Current Market
Less Debt Service $193,575 $193,575
Cash Flow $133,610 $320,675
Cash on Cash Return 4.61% 11.06%
Expenses as % of Gross 41% 31%
Expenses per Unit $6,865 $6,865
FINANCING
ANNUAL OPERATING EXPENSES
First Foundation Bank- Quote: April 2018 (loan information is time sensitive & subject to change)
CASH FLOW AFTER DEBT SERVICE
OFFERING MEMORANDUM | 620 EDDY STREET P.5 COLLIERS INTERNATIONAL
RENT ROLL
Financial Overview
NOTESMarket rents based on highest current rent achieved for the unit
Laundry projected at Current
Storage projected at $50 per space
Other Income - includes miscellaneous, rent fee, leasing fee, vacancycleaning, vacancy repair & bill back income
Unit Unit Type Rent Market Rent Move In Date
A Studio $1,350.00 $1,725 5/1/2017
1 (Mgr) 1 Bedroom $1,250.00 $2,495 12/1/2013
2 1 Bedroom $1,277.91 $2,495 8/29/2004
3 Efficiency $1,600.00 $1,600 Vacant
4 Studio $1,060.49 $1,725 6/1/2009
5 Studio $1,595.00 $1,725 5/22/2017
6 Studio $1,595.00 $1,725 5/3/2017
7 Studio $1,595.00 $1,725 6/4/2017
8 Studio $1,595.00 $1,725 7/21/2017
9 Studio $1,656.17 $1,725 6/1/2015
20 Studio $1,195.58 $1,725 9/1/2007
21 1 Bedroom $1,421.90 $2,495 4/23/2010
22 Studio $1,595.00 $1,725 10/1/2017
23 Efficiency $1,013.53 $1,600 1/10/2011
24 Studio $635.91 $1,725 6/1/1997
25 Studio $1,725.00 $1,725 Vacant
26 Studio $1,595.00 $1,725 9/1/2017
27 Studio $1,059.01 $1,725 4/1/2009
28 Studio $1,732.29 $1,725 9/17/2016
29 Studio $1,361.20 $1,725 11/1/2012
30 Studio $1,406.05 $1,725 4/10/2013
UNITSEfficiency - 4
Studio - 26
1 Bedroom - 5
Total - 35
Unit Unit Type Rent Storage Market Rent Move In Date
31 1 Bedroom $2,141.09 $2,495 11/1/2016
32 Studio $654.97 $1,725 12/1/1994
33 Efficiency $1,370.22 $1,600 10/27/2014
34 Studio $1,595.00 $1,725 11/6/2017
35 Studio $1,661.57 $1,725 3/20/2015
36 Studio $1,732.29 $1,725 6/1/2016
37 Studio $603.70 $1,725 10/1/1993
38 Studio $948.88 included $1,725 10/1/2009
39 Studio $1,170.86 included $1,725 5/25/2010
40 Studio $1,063.93 included $1,725 8/29/2004
41 1 Bedroom $796.94 $2,495 11/18/1996
42 Studio $1,595.00 $1,725 7/10/2017
43 Efficiency $1,375.00 $1,600 11/1/2017
44 Studio $1,701.80 $1,725 4/1/2016
Monthly Rent $47,726.29 $63,725
Laundry $528 $528
3 Storage spaces $0 $150
Pet Rental Fee $62 $62
Water Passthrough $85 $85
Other Income $558 $558
Monthly Income $48,959 $65,108
Annual Income $587,506 $781,291 33% Upside
OFFERING MEMORANDUM | 620 EDDY STREET P.6 COLLIERS INTERNATIONAL
Property Photographs
OFFERING MEMORANDUM | 620 EDDY STREET P.7 COLLIERS INTERNATIONAL
Property Photographs
OFFERING MEMORANDUM | 620 EDDY STREET P.8 COLLIERS INTERNATIONAL
Property Photographs
OFFERING MEMORANDUM | 620 EDDY STREET P.9 COLLIERS INTERNATIONAL
Property Photographs
OFFERING MEMORANDUM | 620 EDDY STREET P.10 COLLIERS INTERNATIONAL
Floor Plans
STUDIO
Wall Thickness Assumed
Wall Thickness Assumed
Corridor
Elev
3
12'-4"
13'-3"
FLOOR PLAN
Survey Accuracy: +/- %0.15
Note: All dimensions shown are rounded to thenearest inch, for informational purposes only.All measurements are recorded to 1/8" accuracyas documented in the final CAD drawing supplied.
(As Measured: April 2018)
FIRST FLOORSUITE 3
620 EDDY STSAN FRANCISCO, CA
TEL: (888) 393-6655FILE: 18-162
LASERTECH® is a registered US trademark of Lasertech® Floorplans Ltd.Copyright 1998 Lasertech® Floorplans Ltd., All Rights Reserved
EDDY STREET
OFFERING MEMORANDUM | 620 EDDY STREET P.11 COLLIERS INTERNATIONAL
Floor Plans
KITCHEN
BEDROOM
Wall Thickness Assumed
Wall Thickness Assumed
Corridor
25
7'-5"
12'-6"
10'-0"
FLOOR PLAN
Survey Accuracy: +/- %0.17
Note: All dimensions shown are rounded to thenearest inch, for informational purposes only.All measurements are recorded to 1/8" accuracyas documented in the final CAD drawing supplied.
620 EDDY STSAN FRANCISCO, CA
TEL: (888) 393-6655FILE: 18-162
LASERTECH® is a registered US trademark of Lasertech® Floorplans Ltd.Copyright 1998 Lasertech® Floorplans Ltd., All Rights Reserved
(As Measured: April 2018)
SECOND FLOORSUITE 25
OFFERING MEMORANDUM | 620 EDDY STREET P.12 COLLIERS INTERNATIONAL
Floor Plans
BEDROOM
BEDROOM
KITCHEN
Wall Thickness Assumed
Corridor
31
Wall Thickness Assumed
Elev
11'-5"
12'-3"
9'-1"
13'-10"
12'-5"
15'-5"
FLOOR PLAN
Survey Accuracy: +/- %0.16
Note: All dimensions shown are rounded to thenearest inch, for informational purposes only.All measurements are recorded to 1/8" accuracyas documented in the final CAD drawing supplied.
620 EDDY STSAN FRANCISCO, CA
TEL: (888) 393-6655FILE: 18-162
LASERTECH® is a registered US trademark of Lasertech® Floorplans Ltd.Copyright 1998 Lasertech® Floorplans Ltd., All Rights Reserved
(As Measured: April 2018)
THIRD FLOORSUITE 31
OFFERING MEMORANDUM | 620 EDDY STREET P.13 COLLIERS INTERNATIONAL
Floor Plans
UP UP
DN
UP
Wall ThicknessAssumed
Wall ThicknessAssumed
Elev
Lower Roof Area
50'-5"48'-8"
28'-4"
30'-4"
FLOOR PLAN
Survey Accuracy: +/- %0.02
Note: All dimensions shown are rounded to thenearest inch, for informational purposes only.All measurements are recorded to 1/8" accuracyas documented in the final CAD drawing supplied.
620 EDDY STSAN FRANCISCO, CA
TEL: (888) 393-6655FILE: 18-162
LASERTECH® is a registered US trademark of Lasertech® Floorplans Ltd.Copyright 1998 Lasertech® Floorplans Ltd., All Rights Reserved
*TOTAL ROOF AREA:4921 s.f.
*Measured Area represents the footprint of the floor, and is usedsolely for billing purposes. It is NOT to be used for leasing purposes.
(As Measured: April 2018)
FOURTH FLOORLOWER ROOF
*Upper Roof Area:2783 s.f.
*Lower Roof Area:2138 s.f.
OFFERING MEMORANDUM | 620 EDDY STREET P.14 COLLIERS INTERNATIONAL
Tech Companies
STRATEGIC LOCATION TO SAN FRANCISCO’S NEW TECHNOLOGY ECONOMY AT THE HEART OF THE MILLENNIAL CULTURELeaders in the technology economy paved the way for the urban renaissance of San Francisco’s Mid-Market dis-trict. Driven by a new wave of entrepreneurial spirit and an incredible appetite for large blocks of creative office space, Twitter, Uber, Square, and others are remaking the Mid-Market district by combining the tech campus tradition with the irreplaceable live energy of a true gateway city. Consequently, the submarket has experienced strong rental demand from the growing labor base of young technology workers, artists, and other single pro-fessionals who desire to live within walking distance to their offices.
Van Ness
Franklin
Gough
Franklin
Gough
Golden Gate
McAllister
Grove
Fulton
Hayes
Fell
Oak
Page
Willow
Larkin
Ahern
Post
Geary
Powell
Sansome
Battery
Front
Davis
Drum
m
Pacific
Jackson
Washington
Clay
Washington
Clay
Sacramento
California
Pine
BushSutter
nPolk
Vallejo Broadway
Kearny
Montgom
ery
Laguna
LagunaBuchanan
Wbster
Octavia
Farrell
Ellis
Eddy
Turk
Leavenworth
Jones
Market
O’
Jones
Taylor
Mason
Stockton
Kearny
Mason
Howard
Howard
SteuartSpearMain
Beale
Fremont
Delancey
Hawthorne1st
2nd
3rd
4th
4th
Emb
arcadero
Folsom
Folsom
Harrison
Harrison
BryantBrannan
Brannan
Townsend
Townsend
King
Berry
drihT
Channel
Mi ssion Rock
Hyde
Mission
5th
6th
7th
8th
8th
9th
McCoppin
Gough
12th St
12th St
Polk
Van Ness
Division
10th
11th
15th
6th
Owens
AFr
anc o
is B
lvd
Duboce
14th
Lausatt
Haight
Birch
Bluxome
Baysi
de V
illage
Commercial
Hllis
a
Troy
(Broadway Tunnel)
rk
UnionSquare
MosconeCenter
Metreon
Museum ofModern Art
Centerfor the Arts
LafayettePark
Muni MetroChurch St
MuniMetroVanNess
BART/Muni MetroCivic Center
CaltrainDepot
PacificBellPark
BART/Muni MetroPowell St
BART/Muni MetroMontgomery St
BART/Muni MetroEmbarcadero
TransbayTransitTerminal
JustinHermanPlaza
FerryBuilding
ChinaBasin
CityHall
DaviesSymphonyHall
OperaHouse
CivicCenter
UNPlaza
St Mary ’sCathedral
JeffersonSquare
SouthPark
San FranciscoOaklandBayBridge
32
40
Zeum
US
101
US
101
280INTERSTATE
80INTERSTATE
620 Eddy St
OFFERING MEMORANDUM | 620 EDDY STREET P.15 COLLIERS INTERNATIONAL
Public Transportation
v
WITH IMMEDIATE ACCESS TO ONE OF THE NATION’S BEST PUBLIC TRANSIT SYSTEMSThe area around 620 Eddy Street offers an extensive transportation network which ensures superior regional access throughout San Francisco and the surrounding Bay Area. Atlantic Cities’ “Access Across America, Transit 2014” ranked San Francisco second only to Manhattan for public transit efficiency, based on how many jobs a resident can access within a 10 to 30 minute commute during the morning rush hours of 7am to 9am. 620 Eddy Street is within walking distance of a variety of public transit systems, including the Civic Center/UN Plaza Bay Area Rapid Transit System (BART) station, the underground MUNI, and street-level rail—all in addition to a va-riety of San Francisco’s caravan of ‘Tech Shuttles’ moving busloads of Google, Genentech, Facebook, and Apple employees from their homes in San Francisco to their job centers in Silicon Valley.
O’Farrell @ Van Ness AvenueMcAllister @ Hyde Street MCAllister @ Polk StreetGolden Gate Ave @ Polk Street
Bart/Muni Metro Civic CenterBart/Muni Metro Powell Street
BART & MUNI METRO
Civic Center @ Golden Gate AvenueMarket @ Civic CenterMarket @ 7th StreetMarket @ 6th Street
Market @ Hyde Street
BUS & MUNI LIGHT RAIL
Bart/Muni Metro Montgomery StreetBart/Muni Metro Embarcadero Station
Van Ness
Franklin
Gough
Franklin
Gough
Golden Gate
McAllister
Grove
Fulton
Hayes
Fell
Oak
Page
Willow
Larkin
Ahern
Post
Geary
Powell
Sansome
Battery
Front
Davis
Drum
m
Pacific
Jackson
Washington
Clay
Washington
Clay
Sacramento
California
Pine
BushSutter
nPolk
Vallejo Broadway
Kearny
Montgom
ery
Laguna
LagunaBuchanan
Wbster
Octavia
Farrell
Ellis
Eddy
Turk
Leavenworth
Jones
Market
O’
Jones
Taylor
Mason
Stockton
Kearny
Mason
Howard
Howard
SteuartSpearMain
Beale
Fremont
Delancey
Hawthorne1st
2nd
3rd
4th
4th
Emb
arcadero
Folsom
Folsom
Harrison
Harrison
BryantBrannan
Brannan
Townsend
Townsend
King
Berry
drihT
Channel
Mi ssion Rock
Hyde
Mission
5th
6th
7th
8th
8th
9th
McCoppin
Gough
12th St
12th St
Polk
Van Ness
Division
10th
11th
15th
6th
Owens
AFr
anc o
is B
lvd
Duboce
14th
Lausatt
Haight
Birch
Bluxome
Baysi
de V
illage
Commercial
Hllis
a
Troy
(Broadway Tunnel)
rk
UnionSquare
MosconeCenter
Metreon
Museum ofModern Art
Centerfor the Arts
LafayettePark
Muni MetroChurch St
MuniMetroVanNess
BART/Muni MetroCivic Center
CaltrainDepot
PacificBellPark
BART/Muni MetroPowell St
BART/Muni MetroMontgomery St
BART/Muni MetroEmbarcadero
TransbayTransitTerminal
JustinHermanPlaza
FerryBuilding
ChinaBasin
CityHall
DaviesSymphonyHall
OperaHouse
CivicCenter
UNPlaza
St Mary ’sCathedral
JeffersonSquare
SouthPark
San FranciscoOaklandBayBridge
32
40
Zeum
US
101
US
101
280INTERSTATE
80INTERSTATE
v
v
v
v
v
v
620 Eddy St
OFFERING MEMORANDUM | 620 EDDY STREET P.16 COLLIERS INTERNATIONAL
Franklin
Gough
Golden Gate
McAllister
Grove
FultonGrove
Hayes
Fell
Oak
Page
Turk
Willow
Larkin
Opal
Tulip
Decker
Heron
Gordon
Homer
Brush
AhernCleveland
Post Geary
Powell
Sansome
Battery
Was
Clay
Sacramento
California
Pine
BushSutter
Montgom
ery
Laguna
Webster
Fillmore
Fillmore
Steiner
Steiner
Pierc
Scot
Steiner
Pierce
Farrell
Ellis
Eddy
Turk
Leavenworth
Jones
Market
O’
nes
Taylor
Mason
Stockton
arny
Mason
Howard
4th
Folsom
Harrison
Bryant
Brannan
Hyde
Mission
5th
6th
7th8th
9thG
12th St
Polk
Van Ness
Hickory
Lily
Rose
Haight
Ivy
Ivy
Birch
Linden
Hemlock
Cleary Ct
Willow
Larch
Cedar
Myrtle
Olive
Fern
Austin
L
Tandang
Mabini
Riz
Bonifaci
New Montgomery
Campton
Maiden Lane
Hangah
Burritt
Chelsea
Chatham
Quincy
Belden
Treasury
PetrarchCentury
TrinityLick
Vermehr
Mark
Elwood
Sec Pacific
Spring
Leidesdorff
Annie
E
Ant
Minna
Jessie
Aldrich
Masse
t
K
Stevenson
oda
JoicePratt
Sabin
Brooklyn
Sproule
Vine
Kimball
Torrens
d tG
oldenLeroy
Lysette
Helen
Touchard
llerM
les
Freeman
Dawso
Nob H
ill
Nob Hill
Malvina
Ewer
MulfordEmma
Vinton
Tillman
FellaHooker
AnsonDelta
D.H
amm
ett
Avery
CottageRow
Hollis
Buchanan
BanneckerInca
Cran
BertieM
inor
LottieBennet
QuickstepGalilee
O'Farrell
Byington
Zampa
Orben
Wilmot
erine
Yorke
S tarr K ing
Stevenson
Cosmo
Hobart
Colin AdelaideI. Duncan Derby
SteveloeShannon
Ophir
Agate
Harlem
Meacham
Ada
Amity
Dale
Wagner
Cohen
Breen
Dodge
Cyril Magnin
Jessie
Tehama
Clementina
Minna
Natoma
Mary
Mint
Tehama
Sumner
JuliaLaskie
Falmouth
Gallagher
Rausch
Langton Sherman
Berwick
Chesley
Hallam
Rodgers
Col Square
RussMoss
Morris
MerlinOak Grove
Lucerne
Hulbert
Holland
FargoBoardm
anGilbert
Gilbert
Clementina
Ringold
ClaraShipley
Minna
Stevenson
Jessie
dan
Natoma
Washburn
Grace
Dore
Brad
Lafayettetevenso
nColto
n Conve
Eva
Butte
DecaturKate
Pleasant
Troy
Acorn
Eureka
Panton
Lech Walesa
Redwood Redwood
Ash
Elm
DanielBurnham
(Stockton Tunnel)
Chase
HarlanHardie
ClaudeRobertKirk
Colusa
StGeorge
Elm
UnionSquare
MosconeCenter
Metreon
Museum ofModern Art
Centerfor the Arts
LafayettePark
KimbellPlayground
HamiltonRecreationCenter
AltaPlazaPark
AlamoSquare Muni
MetroVanNess
BART/Muni MetroCivic Center
BART/Muni MetroPowell St
BART/Muni MetroMontgomery
JapanCenter
CityHall
DaviesSymphonyHall
OperaHouse
CivicCenter
UNPlaza
St Mary’sCathedral
JeffersonSquare
Zeum
US
101
k
b
p
t
Regional Map
Location Map
620 Eddy St
620 Eddy St
OFFERING MEMORANDUM | 620 EDDY STREET P.17 COLLIERS INTERNATIONAL
CONFIDENTIALITY & DISCLAIMER STATEMENTThis Offering Memorandum contains select information pertaining to the business and affairs of the Property at 620 Eddy Street San Francisco, CA 94109. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by 620 Eddy Street from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum from 620 Eddy Street you agree:
1) The Offering Memorandum and its contents are confidential;
2) You will hold it and treat it in the strictest of confidence; and
3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of 620 Eddy Street or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Prop-erty shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date of this Offering Memorandum.
Aerial Map
620 Eddy St
BRAD LAGOMARSINO1 415 288 [email protected] Lic. 01058500
101 Second Street, 11th Floor San Francisco, CA 94105 1 415 788 3100 www.colliers.com
JAMES DEVINCENTI1 415 288 [email protected] Lic. 00951916
www.theDLTeam.com