Upload
others
View
1
Download
0
Embed Size (px)
Citation preview
OFFERING MEMORANDUM
Urban Infill RedevelopmentMultifamily | Commercial
SA-3 Zoning | ±0.72 Acres
14812 EAST 14TH
SAN LEANDRO | CALIFORNIA
DISCLAIMER STATEMENT
This Offering Memorandum (“Memorandum” was prepared by Colliers International (“Colliers”) as part of Collier’s efforts to market
for sale the real property commonly known as 14812 East 14th Street (the “Property”) in San Leandro, California. Colliers is the
exclusive agent and broker for the owner of the Property (the “Owner”). Colliers is providing this Memorandum and the material
contained in it to prospective purchaser (each a “Purchaser”) solely to assist Purchaser in determining whether Purchaser is
interested in potentially purchasing all or part of the Property. Colliers is also providing this Memorandum and the material in
it to Purchaser with the understanding that Purchaser will independently investigate those matters that it deems necessary and
appropriate to evaluate the Property and that Purchaser will rely only on its own investigation, and not on Colliers, the Owner, or this
Memorandum, in determining whether or not to purchase the Property.
This Memorandum is a solicitation of interest only and is not an offer to sell, or a solicitation of an offer to buy, an interest in the
Property. Owner expressly reserves the right, in its sole and absolute discretion, to reject any or all expressions of interest or offers
to purchase the Property and expressly reserves the right, in its sole and absolute discretion, to terminate discussion with any
potential Purchaser at any time with or without notice. Owner shall have no legal commitment or obligation to any party reviewing
this Memorandum or making an offer to purchase the Property unless and until a written real estate purchase and sale agreement
is executed by Owner and Purchaser. Nothing contained in this Memorandum may be construed to constitute legal or tax advice to
Purchaser concerning the Property.
EXECUTIVE SUMMARY 1
PROPERTY SUMMARY 3
MARKET SUMMARY 5
DEVELOPMENT POTENTIAL 8
MAPS 11
AERIALS 15
CHRIS TWARDUSSenior Vice President+1 408 282 [email protected] License No. 000933014
TONY PARKSenior Vice President+1 510 433 [email protected] License No. 01961368
EXCLUSIVELY OFFERED BY:
TABLE OF CONTENTS
EXECUTIVE SUMMARYColliers International (“Colliers”), as exclusive broker, is pleased to offer for sale 14812 East 14th Street (the “Property”), in the City of San Leandro, California. The Property consists of ±2,832 square feet of building improvements and ±31,342 square feet (±0.72 acres) of land. Enterprise Rent-A-Car Co of San Francisco, LLC currently operates a used car sales business on the premises with plans to vacate the Property by the second quarter of 2019. The Property is located in the Gateway District of San Leandro at the southern end of the city’s East 14th Street Corridor. 14812 East 14th Street is directly adjacent to the Historic BAL Theatre and abuts residential homes to the north and a commercial property and mobile home park to the south.
The Property is zoned South Area – 3 (SA-3) and has a general plan land use designation of Mixed Use Corridor (MUC) allowing for a variety of regional and community-serving uses up to a maximum height of 50 feet, including office, commercial, retail and residential (with CUP). The current SA-3 zoning code is being re-examined by the City of San Leandro to allow for increased floor-area-ratio (FAR) that corresponds to the 50-foot building height limit provided for in the city’s general plan.
> Central Bay Area location with access to all major employment centers in San Francisco, East Bay, Peninsula and Silicon Valley.
> Close proximity to Bay Fair BART Station and Bayfair Center regional mall (1 mile away).
> Convenient freeway access to I-580 and I-880.
> Short driving distance to Downtown San Leandro and Oakland International Airport (10 to 15 minutes).
> 50-foot building height limit.
> Flexible SA-3 zoning allowing commercial and residential uses (with CUP).
> Located directly in front of AC Transit bus line #10 with service every 20 minutes to Bay Fair BART (5 minutes).
PROPERTY HIGHLIGHTS
1 COLLIERS INTERNATIONAL
OFFERING TERMS
14812 East 14th Street is being offered for sale at an asking price of $2,200,000. All interested parties should base their offer on the Property in its “as-is, where-is” condition. Qualified purchasers will be provided access to online property information upon request. Time for development approvals may be considered.
The Owner requests that all interested, qualified parties provide Colliers with a formal letter of intent outlining the terms and conditions under which Purchaser proposes to acquire the Property. In addition, a summary providing background information of the Purchaser, its principals and its transaction history, is requested.
PRICE $2,200,000
SITE AREA+/-31,342 SF +/-0.72 Acres
PROPOSED DEVELOPMENT Multifamily residential
DEVELOPMENT POTENTIAL 50 to 70 units (estimated)
OFFERING SUMMARY
14812 E. 14TH STREET, SAN LEANDRO 2
PROPERTY SUMMARY
ADDRESS14812 East 14th StreetSan Leandro, California 94578
APN’S 77E-1593-8
EXISTING BUILDING IMPROVEMENTS ±2,832 square feet
SITE AREA±31,342 square feet±0.72 acres
SITE CONFIGURATION Rectangular
SITE TOPOGRAPHY Flat
CURRENT USE Used Vehicle Sales
PERMITTED USESOffice, Commercial, Retail, Residential (with CUP)
GENERALPOLICE City of San Leandro
FIRE City of San Leandro
WATER East Bay Municipal Utility District (EBMUD)
SEWER City of San Leandro
TRASH Alameda County Industries (ACI)
STORM DRAINAGE City of San Leandro
GAS & ELECTRIC Pacific Gas & Electric
SERVICES
3 COLLIERS INTERNATIONAL
AERIAL OVERVIEW
AERIAL OVERVIEW
SUBJECT SITE
Hesperian Blvd.
BAY FAIR TODSPECIFIC PLAN AREA
GATEWAY DISTRICT
INTERSTATECALIFORNIA
880
Downtown Hayward
14812 E. 14TH STREET, SAN LEANDRO 4
MARKET SUMMARYSan Leandro is centrally located in the San Francisco Bay Area’s Inner
East Bay submarket between Oakland and Hayward. Covering 15 square
miles, San Leandro has a population of more 90,000 consisting of 29%
Caucasian, 32% Asian/Pacific Islander, 40% Hispanic/Latino, 14%
African American, and 11% Other. Median household income is slightly
over $67,000 with 2.74 persons per household. Residents in San Leandro
are well-educated with more 28% having a Bachelor’s Degree or higher.
Unemployment is 3.1% and homeownership is 54%.
As of September 5, 2018, the median home sales price in San Leandro
is $689,500, or $498 per square foot, having risen 11.2% year-over-
year and 70.8% over the last five years (trulia.com). San Leandro is
well-known for its quiet, well-defined neighborhoods with charming and
unique older houses on tree-lined streets. San Leandro has a temperate
climate with an average temperature of 62 degrees and average rainfall
of 19 inches per year. Since 2015, the City of San Leandro has the fastest
broadband in the nation with over 18 miles of fiber optic network capable
of transmitting at up to 10Gbit/s. As of the second quarter of 2018, the San
Leandro/San Lorenzo industrial market consists of 27.5 million square
feet of industrial space with a vacancy of 2.1% (Colliers International).
> Median home sale price appreciation of 11.2% over last year and 70.8% over last five years.
> Population of more than 90,000.
> 28% with bachelor’s degree or higher.
> 54% homeownership.
> $689,500 ($498 per SF) median home sales price.
> $67,000 median household income.
> Low 3.1% unemployment rate.
MARKET FACTS
5 COLLIERS INTERNATIONAL
COMPANY Employees
San Leandro Unified School District 1,380
Kaiser Permanente Medical Group 1,032
City of San Leandro 582
Ghiradelli Chocolate Company 487
San Leandro Hospital 460
OSIsoft 364
Costco Wholesale 358
BCI Coca-Cola Bottling Co. 325
Wal-Mart 323
Paramedics Plus LLC 295
San Leandro – Largest Employers
*City of San Leandro, 2015 *San Francisco Business Times
COMPANY Employees
Kaiser Permanente 34,398
Sutter Health 10,184
Tesla 10,000
Safeway Northern California Division 9,373
John Muir Health 6,484
Chevron Corp. 5,252
PG&E Corp. 5,100
Wells Fargo & Co. 5,089
United Parcel Service (UPS) 4,500
Workday Inc. 3,135
East Bay – Largest Employers
> #3 of 4,804 Most Diverse Suburbs in America.
> Fastest broadband in the nation with over 18 miles of fiber optic network.
> Centrally located in the San Francisco Bay Area with access to all major employment centers.
> Easy commuter access to San Francisco and Downtown Oakland with two BART Stations.
> Temperate climate with average temperature of 62 degrees.
SAN LEANDRO HIGHLIGHTS
14812 E. 14TH STREET, SAN LEANDRO 6
PROPERTY PHOTOS
Building Facade
Property Frontage – looking southeast Parking Lot – looking southeast
Parking Lot – looking west
7 COLLIERS INTERNATIONAL
DEVELOPMENT POTENTIAL
GENERAL PLAN DESIGNATION Mixed Use Corridor (MUC)
ZONING South Area – 3 (SA-3)
MAXIMUM BUILDING HEIGHT 50 feet
MAXIMUM BASE FAR (CURRENT) 1.00
MAXIMUM BASE + BONUS FAR (CURRENT) 1.40 (with Planning Commission approval)
MAXIMUM PROPOSED FAR (FUTURE) To be determined (with PD zoning)
RESIDENTIAL PARKING REQUIREMENT
1.5 spaces per Studio Unit
1.5 spaces per 1-Bedroom Unit
1.75 spaces per 2-Bedroom Unit
2.5 spaces per 3-Bedroom Unit
COMMERCIAL PARKING REQUIREMENTNo parking, if less than 5,000 square feet2 spaces per 1,000 square feet
MINIMUM SETBACK REQUIREMENTS None
MINIMUM SITE LANDSCAPING 5% of Site Area
DEVELOPMENT POTENTIAL 50 to 70 units (estimated)
SCHEME 2 PD - MASSING MODEL9/20/201814812 EAST 14TH STREET
SCHEME 2 PD - MASSING MODEL9/20/201814812 EAST 14TH STREET
14812 E. 14TH STREET, SAN LEANDRO 8
FLOOR PLANS
Ground Floor Second Floor
E 14
TH S
TREE
T
8' - 0" 175' - 0" 27' - 0"
143'
- 7"
1,508 SFRETAIL
1,524 SFRETAIL
785 SF
RESIDENTIALLOBBY
95 PARKING SPACES
MECH.
HISTORIC BAL THEATRE
JACKSON HEWITT TAX SERVICE
SINGLE FAMILY RESIDENCES
36' -
2"
36' -
2"
27' -
9"
43' -
6"
TANDEM PARKING FOR 2BD UNITS
PROPERTY LINE
PUMP
EGRE
SS
SINGLE FAMILY RESIDENCES
DO
G R
UN
TRASH
STACKERS
STAC
KER
S
STACKERS
STACKERS
SCHEME 2 PD - GROUND FLOOR PLAN9/20/201814812 EAST 14TH STREET
0 40'20'
957 SF
2 BD1
822 SF
1 BD2
822 SF
1 BD3
450 SF
STUDIO5
1,089 SF
2 BD11
748 SF
1 BD12
1,237 SF
2 BD26
533 SF
1 BD23
583 SF
1 BD22
705 SF
1 BD21
695 SF
1 BD15
452 SF
STUDIO16
814 SF
1 BD18
825 SF
1 BD19
747 SF
1 BD6
870 SF
1 BD9
450 SF
STUDIO24
2,392 SFOPEN SPACE
4,867 SFOPEN SPACE
CIRCULATION
494 SFAMENITY
32' -
11"
33' -
8"
35' -
4"
31' -
1"
10' -
7"
133'
- 1"
33' - 0" 36' - 0" 36' - 0" 18' - 8" 33' - 0" 26' - 4" 22' - 0"183' - 0"
15' - 10" 27' - 0" 24' - 0" 24' - 0" 58' - 2" 22' - 0"
35' -
5"
36' -
3"
583 SF
1 BD14
583 SF
1 BD13
FIRE DEPARTMENT ACCESS STAIR
1,048 SF
2 BD33
948 SF
2 BD17
34' - 0"
SCHEME 2 PD - SECOND FLOOR PLAN9/20/201814812 EAST 14TH STREET
0 40'20'
9 COLLIERS INTERNATIONAL
DAYLIGHT PLANE
27' - 0"
DAYLIGHT PLANE
822 SF
1 BD138
822 SF
1 BD144
747 SF
1 BD146
533 SF
1 BD147
583 SF
1 BD148
792 SF
1 BD149
825 SF
1 BD150
814 SF
1 BD151
695 SF
1 BD152
583 SF
1 BD153
583 SF
1 BD154
748 SF
1 BD155
870 SF
1 BD156
450 SF
STUDIO157
450 SF
STUDIO158
452 SF
STUDIO159
957 SF
2 BD160
948 SF
2 BD161
1,089 SF
2 BD162
1,048 SF
2 BD163
1,237 SF
2 BD164
494 SF
AMENITY165
CIRCULATION
SCHEME 2 PD - THIRD FLOOR PLAN9/20/201814812 EAST 14TH STREET
0 40'20'
Third Floor Fourth Floor
2,661 SFOPEN SPACE
CIRCULATION
DAYLIGHT PLANE
40' - 0"
DAYLIGHT PLANE
450 SF
STUDIO168
450 SF
STUDIO169
452 SF
STUDIO170
822 SF
1 BD171
822 SF
1 BD172
747 SF
1 BD173
533 SF
1 BD174
583 SF
1 BD175
792 SF
1 BD176
695 SF
1 BD177
583 SF
1 BD178
583 SF
1 BD179
748 SF
1 BD180
814 SF
1 BD181
825 SF
1 BD182
494 SF
AMENITY183
957 SF
2 BD184
948 SF
2 BD185
1,237 SF
2 BD186
SCHEME 2 PD - FOURTH FLOOR PLAN9/20/201814812 EAST 14TH STREET
0 40'20'
14812 E. 14TH STREET, SAN LEANDRO 10
MAPS REGIONAL MAP
11 COLLIERS INTERNATIONAL
AREA MAP
14812 E. 14TH STREET, SAN LEANDRO 12
LOCATION MAP
13 COLLIERS INTERNATIONAL
LOCATION AERIAL
14812 E. 14TH STREET, SAN LEANDRO 14
AERIALS
15 COLLIERS INTERNATIONAL
14812 E. 14TH STREET, SAN LEANDRO 16
17 COLLIERS INTERNATIONAL
East
14th
St
Hesperian
Bayfair Center
Bancroft
14812 EAST 14TH STREET
14812 E. 14TH STREET, SAN LEANDRO 18
Bayfair Center
OaklandAirport
DowntownOaklandSan Francisco
CHRIS TWARDUSSenior Vice President+1 408 282 [email protected] License No. 0.00933014
TONY PARKSenior Vice President+1 510 433 [email protected] License No. 01961368
EXCLUSIVELY OFFERED BY:
Accelerating success.
COLLIERS INTERNATIONAL1999 Harrison Street, Suite 1750
Oakland, CA 94612 www.colliers.com/oakland
19 COLLIERS INTERNATIONAL