18505 VENTURA BLVD. TARZANA, CA 91356images1.loopnet.com/d2/eQ9sXwEVjymDWzRzv_JOBK99l... · 18505 VENTURA BLVD. TARZANA, CA 91356. 5 PER 1,000 SF PARKING RATIO ... price, prior sale,

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18505 VENTURA BLVD.TARZANA, CA 913565 PER 1,000 SF PARKING RATIO MEDICAL OFFICE CONVERSION POTENTIALCOFFEE BEAN ANCHORED PLAZA

OFFERING MEMORANDUM | LISTING PRICE $6,200,000

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TABLE OF CONTENTS

SECTION ONE 04EXECUTIVE PROFILE

SECTION TWO 10PROPERTY INFORMATION

© 2017 Hudson Partners, Inc. & BRC Advisors. The information contained in this document has been obtained from sources believed reliable. While Hudson Partners, Inc. & BRC Advisors does not doubt its accuracy, Hudson Partners, Inc. & BRC Advisors has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Hudson Partners, Inc. & BRC Advisors and the Hudson Partners, Inc. & BRC Advisors logos are service marks of Hudson Partners, Inc. & BRC Advisors and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

This Memorandum (“Offering Memorandum”) has been prepared by Hudson Partners, Inc. and BRC Advisors, Inc. based on information that was furnished to us by sources we deem to be reliable. No warranty or representation is made to the accuracy thereof; subject to correction of errors, omissions, change of price, prior sale, or withdrawal from market without notice.

This Memorandum is being delivered to a limited number of parties who may be interested in and capable of purchasing the Property. By its acceptance hereof, each recipient agrees that it will not copy, reproduce or distribute to others this Memorandum in whole or in part, at any time, without the prior written consent of Hudson Partners, Inc. and BRC Advisors, Inc., and it will keep permanently confidential all information contained herein not already public and will use this Confidential Memorandum only for the purpose of evaluating the possible acquisition of the Property.

This Memorandum does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information, which prospective buyers may need, or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of the Owner and, therefore, are subject to material variation. This Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Memorandum.

This Memorandum is being delivered by Hudson Partners Inc. and BRC Advisors, Inc., to prospective purchasers with the understanding that all prospective purchasers will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Additional information and an opportunity to inspect the site will be made available to interested and qualified prospective purchasers. Hudson Partners, Inc. and BRC Advisors, Inc., reserves the right to request the return of any or all of the information enclosed.

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SECTION 1 | EXECU

TIVE OVERVIEW

BRC ADVISORS & HUDSON COMMERCIAL PARTNERS, INC. - 76 - BRC ADVISORS & HUDSON COMMERCIAL PARTNERS, INC.

Physical description

PROPERTY INFORMATION

DESCRIPTION SPECIFICATION

CONSTRUCTION TYPE Wood Frame Stucco

FOUNDATION Concrete

FIRE PROTECTION Fire Sprinklers

HVAC Package Units - 5 Ton

METERS Seperately Metered

LANDSCAPING Minimal

SPECIFIC PLAN Ventura / Cahuenga Specific Plan

INTERIOR Drywall

ACCESS Ventura Blvd and Reseda Blvd and Alley

HIGHWAY ACCESS 101 Freeway

TRAFFIC COUNT ±83,378 Cars / Day - Intersection

site description

DESCRIPTION SPECIFICATION

GROSS SQUARE FOOTAGE 8,768 SF

RENTABLE SQUARE FOOTAGE 8,613 SF

PARCEL AREA 33,681 SF

PARCEL NUMBER 2160-007-034

BUILDING TYPE Retail Stores

FLOOR-TO-AREA RATIO 0.26

ZONING C2-1L

PARKING ±45 Spaces

PARKING RATIO 5.13 / 1,000 SF

YEAR BUILT 1999

TENANCY Mutli-Tenancy

FRONTAGE 200’ on Ventura Blvd.232’ on Reseda Blvd.

LOT DIMENSIONS 168’ x 200’

PROPERTY DESCRIPTION

Hudson Partners and BRC Advisors are the Exclusive Agents for the Coffee Bean anchored opportunity. This signalized corner has tremendous identity and exposure, cars daily at approximately +/-83,378 and spectacular foot traffic. The generous land size (33,681 SF) on Ventura Blvd lends itself to a development opportunity or a mixed-use project with Coffee Bean incorporated into the project. Currently, the parking ratio allows the possibility of medical office which has massive demand in this sub-market, given proximity to Tarzana Medical Center.The building is currently 41.63% vacant and 20.13% is currently under eviction. An owner-user Buyer can obtain up to 90% financing through SBA, if their intentions are to occupy 51% or more of the rentable square feet. However, there is conventional financing up to 80% for Buyers looking to occupy as little as 30% of the square footage. In either scenario, an owner-user can be anchor by Coffee Bean for all their patrons to enjoy, while they lower their occupancy costs. On the other hand, an investor could stabilize this asset and achieve an attractive Cap Rate for Ventura Blvd. Situated as the gateway property to the bustling new Tarzana Village, a hip new reinvigorated corridor in the West San Fernando Valley. This signalized corner is one of the best intersections in the San Fernando Valley, Reseda Blvd. and Ventura Blvd. Tarzana Village is anchored by a 55,800 square foot Whole Foods which is also the flanked by 20 other fine retailers. This 146,363 square foot Regional Retail Center was built in 2010 and changed the landscape to pedestrian oriented community. The Cahuenga/Ventura Blvd Specific Plan has designated this stretch of Ventura Blvd as “pedestrian oriented” making more attractive for a developer to negotiate density concessions. Village Walk at Tarzana Development was recently completed which consists of two sites: a 57 unit apartment project and 15 townhouse style units, catering to an affluent demographics. Walking distance to Vons, CVS, Gelson’s Market, Home Goods, Sharkeys, Taco Bell, Walgreens, Starbucks, and Whole Foods, along with numerous eateries such as Kusuyu and tons of other retail. This opportunity is the end cap of the Tarzana Village.

PROPERTY HIGHLIGHTS• National Credit Tenant Anchor - Coffee Bean• Potential Medical Owner-User• Development Opportunity - Increasing Density• 90% SBA (51% Occupancy)• 80% Conventional Loan (30% Occupancy)• ±83,378 Cars Per Day - Major Intersection


TENANT PRO RATA % SQ. FT. RENT PSF CAM CAM PSF LEASE EXP. LEASETYPE OPTION INCREASE

COFFEE BEAN 12.13% 999 SF $6,665 $6.67 / PSF $1,995 $2.00 2/28/2024 NNN N/A TBD

WANDERLUST ICE CREAM 11.40% 1,200 SF $3,193 $2.66 / PSF $1,200 $1.00 8/1/2018 NNN N/A TBD

*SHAWARMA EXPRESS AND

GRILL20.13% 1,765 SF $5,559.75 $3.15 / PSF $1,765 $1.00 MTM NNN N/A TBD

POKI BOWL 11.40% 999 SF $3,090 $3.09 / PSF $1,500 $1.50 3/31/2021 NNN N/A TBD

VACANT 41.63% 3,650 SF $10,950 $3.00 / PSF $3,514 $0.96 ---------- NNN N/A TBD

96.69% 8,613 SF

$29,457.75 BASEAVG. PSF

$3.71

$9,974 CAMAVG. PSF

$1.14$353,493 $119,688

RENT ROLL - PROFORMA

SUMMARY TERMS

PRICE $6,200,000

DOWN PAYMENT (10%) $620,000

GROSS SQUARE FEET 8,768 SF

PRICE PER FOOT ON BUILDING $684.31

LOT SIZE 33,681 SF

PRICE PER FOOT ON LAND $178.14

YEAR BUILT 1999

ZONING C2-1L

DESCRIPTION ESTIMATED PSF

OPERATING EXPENSES

TAXES (1.192%) $77,500 $8.84

INSURANCE $3,945 $0.45

UTILITIES $10,830 $1.24

REPAIRS & MAINTENANCE $6,576 $0.75

CAPITAL RESERVES/MISC $5,699 $0.65

TOTAL OPERATING EXPENSES $104,550 $11.92

DEBT SERVICE $362,747 $41.37

TOTAL OCCUPANCY COSTS $467,297 $53.30

TENANT INCOME (NNN) (60.8%) ($211,716) ($24.15 NNN RENT)

TOTAL OCCUPANCY COSTS $255,581 $29.15

ANNUAL PSF RENT $47.20

MONTHLY PSF(before tax advantages of ownership) $3.93 PSF

SUMMARY TERMS

LOAN AMOUNT $5,580,000

LOAN TYPE SBA

BLENDED SBA RATE 4.25%

BLENDED AMORTIZATION 25 Years

90% Loan-to-value ESTIMATED ANNUALIZED | USER OCCUPANCY COSTS

LOAN ASSUMPTIONS

SBA USER OCCUPANCY COSTS

Notes: Buyer could occupy up to 61.8% of the Rentable Square Footage. Buyer to obtain SBA Loan at 90% Loan-to-Value. Tenants pay $17,643 collectively, absorbing the NNN charges.*Note: Tenant is currently under Eviction.


TENANT PROFILE TENANT PROFILE

Coffee Bean & Tea Leaf: An American coffee chain founded in

1963. It is owned and operated by International Coffee & Tea, LLC,

which has its corporate headquarters in Los Angeles, California. As

of 2016, the chain has over 1000 self-owned and franchised stores in

the United States and 29 other countries. The company is known for

its Original Ice Blended coffee and tea drinks, hot coffee drinks, and

hot and iced tea drinks. It also sells a variety of whole bean coffees,

whole leaf teas, flavored powders, and baked goods.

Wanderlust Creamery: An ice cream creamery founded by two

CSUN alumni Adrienne Borlongan and Jon-Patrick Lopez. Adrienne

is the granddaughter of a flavor chemist of Magnolia Ice Cream and

has a background in food science. She conceptualizes and creates

the flavors in house, while Jon-Patrick who has a law background

and was an attorney prior to fulfilling his entrepreneurial goals,

works with the business operations. Wanderlust now has two loca-

tions; one in Tarzana and the other in Atwater Village.

Poki Tiki: Poke is a Hawaiian appetizer commonly served with

sliced fish and other ingredients and has become a growing trend.

Poki Tiki uses the highest quality ingredients to create a fresh and

flavorful poki dish. Poki Tiki now has 5 locations throughout Southern

California.

SECTION 2 | PRO

PERTY INFO

RMATIO

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AERIAL OVERVIEW PLAT MAP


PROPERTY PHOTOS PROPERTY PHOTOS


PROPERTY PHOTO PROPERTY PHOTOS


PROPERTY PHOTOS PROPERTY PHOTO

22 - BRC ADVISORS & HUDSON COMMERCIAL PARTNERS, INC.

ELIZABETH CLARKSenior Vice President

9301 Wilshire Blvd., Suite 206Beverly Hills, CA 90210

Cal BRE: 01811246

CONTACTCELL PHONE310.740.7283

PHONE310.525.3702

FAX320.421.4184

[email protected]

WEBSITEwww.brcadvisors.com

JAY MARTINEZManaging Principal

STUDIO CITY OFFICE11846 Ventura Blvd., #140

Studio City, CA 91604

BEVERLY HILLS OFFICE9301 Wilshire Blvd., Suite 206

Beverly Hills, CA 90210

Cal BRE: 01367663

CONTACTCELL PHONE818.212.3057

PHONE818.699.1603

FAX818.688.8140

[email protected]

WEBSITEwww.hudsonpartnersinc.com

Documents

18505 VENTURA BLVD. TARZANA, CA 91356images1.loopnet.com/d2/eQ9sXwEVjymDWzRzv_JOBK99l... · 18505 VENTURA BLVD. TARZANA, CA 91356. 5 PER 1,000 SF PARKING RATIO ... price, prior sale,