Offering Memorandum Office Building for sale or Lease · 2018-06-02 · tion of California’s...
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For further information, please contact: Ranga Pathak, Broker-Associate BRE Lic. No. 01364897 Tel: (916)201-9247 [email protected] Offering Memorandum Office Building for sale or Lease 2260 Park Towne Circle, Sacramento, CA 95825
Transcript of Offering Memorandum Office Building for sale or Lease · 2018-06-02 · tion of California’s...
For further information, please contact:Ranga Pathak, Broker-AssociateBRE Lic. No. 01364897Tel: (916)[email protected]
Offering Memorandum
Office Building for sale or Lease2260 Park Towne Circle, Sacramento, CA 95825
The Offering
Executive Summary
2260 Park Towne Circle, Sacramento, CA: OFERING MEMORANDUM
Executive Summary:
RE/MAX Gold as exclusive agent is pleased to offer the opportunity to own a fee simple interest in the office build-ing located at 2260 Park Towne Circle, in Sacramento County, Sacramento, CA. The property is currently leased to three tenants and is 88% occupied.It is a unique opportunity for an owner user to be able to occupy a portion of the building or an investor to acquire a mostly leased building.
Dick James and Associates, a property management company established in 1994, which manages a portfolio of multifamily properties comprising approximately 8,500 units located in three states and 4 metropolitan areas, is headquartered in the building.
Turning Point Community Programs is the other key tenant, that has been in business since 1976 and has a unique vision about offering caring, hope, respect and support to its clients on the path to recovery and mental health.
2260 Park Towne Circle is a 18,354 s.f., two-story, elevator serviced building built in 1968. The property sits on 0.94 acres of land and has recently undergone significant recent improvements including a new roof.
The property is centrally located in the Sacramento metropolitan area, with easy access to both the main Sacra-mento freeways, highways 80 and 50. It is in the vicinity of the Sacramento State University campus (CSUS), the regional Arden Fair Mall, the Country Club Mall, Del Paso Country Club and numerous other amenities and servic-es. Winco recently moved into Country Club Mall and Cinema West 13, Rebounderz Indoor Trampouline & Flaming Grill Cafe are coming soon. Public transportation is available near the entrance to the property, making the building an attractive location for non profit and professional organizations.
Investment Highlights:
*Central Location in the Sacramento metropolitan area
*Pricing well below replacement cost
*Stable and Secure cash flow from credit tenants
*Value add opportunity with potential to raise revenue as leases renew
The Offering
2260 Park Towne Circle, Sacramento, CA: OFERING MEMORANDUM
Offering Summary
Property Highlights 88% Leased, 2-story office buildingOwner User or Investor OpportunitySuites 102 (457 sf) & Suite 101 (1,714 sf) available now, are contiguous
suites ideal for an Owner-User or Investor lease-upPriced below replacement costRecent tenant improvements including new roof installed in 2017Credit tenants on long term leasesValue add opportunity as the leases expireCentrally located in Sacramento metropolitan areaMinutes from California State University SacramentoEasy Access to freeways 80 and 50Located just off a major artery with high traffic countsPublic Transportation at the property entranceAcross from Country Club Mall where Cinema West 13 will be opening in 01/2019
& Rebounderz Indoor Trampoline & Flaming Grill Cafe are coming in summer 2018Near the Del Paso Country ClubEasy access to the State Capitol, Sacramento Downtown & MidtownBuilding Signage Available
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Market Overview
2260 Park Towne Circle, Sacramento, CA: OFERING MEMORANDUM
Sacramento ProfileSacramento is the capital city of the U.S. state of California and the seat of government of Sacramento County. It is located at the confluence of the Sacramento River and the American River in the northern por-tion of California’s expansive Central Valley. Sacramento is the sixth-largest city in California and the 35th largest city in the United States.
Sacramento is the core cultural and economic center of the Sacramento metropolitan area which has an es-timated population of 500,000 in Sacramento, and 2.50 million in the seven county region. The metropolitan area is the fourth largest in California after, as well as the 25th largest in the United States. Sacramento was cited by Time Magazine as America’s most ethnically and racially integrated city in 2002.
Sacramento is a transportation hub, served by an air cargo airport, an international airport, a deep-water shipping port, two major Interstate freeways, freight and passenger rail lines, and an extensive regional commuter bus and light-rail system.
Sacramento itself is a cultural and recreational destination, with an orchestra, professional opera and ballet companies, numerous performing arts venues, a lively museum community including the oldest art museum west of the Mississippi River, professional sports, and endless opportunities for sporting and recreation activities.
Sacramento is also rated:· No. 1: California is one of the top 2 states in the US with Clean Economy Job Growth https://cleantechnica.com/2017/01/11/states-clean-energy-creating-jobs-economic-growth/)· No. 1: In the world for Agriculture and Veterinary Sciences (https://www.usnews.com/ best-colleges/uc-davis)· No. 4: U.S. Metro Clean Tech Index (https://cleanedge.com/sites/default/files/Metro 2012summary.pdf), · No. 5: U.S. cities with the fastest growth in tech jobs (https://www.itbusinessedge.com/). · No. 6: Best Cities for Teleworking (http://www.bestplaces.net/city/california/sacramento) · No. 9 City with best connectivity in U.S. (http://www.fdiintelligence.com/Locations/ Americas)· No. 10: Best city for Women in the Workforce (https://www.nerdwallet.com)
2260 Park Towne Circle, Sacramento, CA: OFERING MEMORANDUM
Market Overview
Location Map
2260 Park Towne Circle, Sacramento, CA: OFERING MEMORANDUM
Watt Avenue
Anton Arcade Apartments
ADT 48,058
Site
Aerial View
Market Overview
Former
Repositioning Opportunity
Coming soon!
Coming soon!Coming soon!
Sacramento Area Map
Market Overview
2260 Park Towne Circle, Sacramento, CA: OFERING MEMORANDUM
Property Information
Building Information
2260 Park Towne Circle, Sacramento, CA: OFERING MEMORANDUM
Expenses**
Rent Roll
Property Information
Second Floor PlanFully Leased
Suite 201
Suite 204
Suite 200
Suite 105 507 s.f.
First Floor Plan
Suite 100
Suite 105Suite 106
Suite 102Available
Suite 101Available
Building Information
The information contained in this Offfering Memorandum has been obtained from sources deemed to be reliable. RE/MAX Gold has not verified and makes no guarantees, warranties or representations regarding the accuracy of the information. You need to conduct a careful, independent evaluation of the property to establish its suitability for your purposes.
Office Office
Office OfficeOffice
Demographics
Demographics
The information contained in this Offfering Memorandum has been obtained from sources deemed to be reliable. RE/MAX Gold has not verified and makes no guarantees, warranties or representations regarding the accuracy of the information. You need to conduct a careful, independent evaluation of the property to establish its suitability for your purposes.
