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5 TH AVE
6 TH AVE
OLIVE ST
NUTMEG ST
For more information, contact:
TIM WINSLOWJASON KIMMELKEVIN NOLEN
+1 858 546 5436+1 858 546 5414+1 858 546 5487
[email protected]@[email protected]
CA Lic. 00891667 CA Lic. 01496694CA Lic. 01840398
S A N D I E G O , C A L I F O R N I A 9 2 1 0 3SWC 6th Avenue and Olive Street
Seller (a subsidiary of The Cathedral Church of St. Paul) will be reviewing offers subject to the following:• Purchase price• Timing and amounts of earnest money deposits and
payment at closing• Closing deadline• Development program: Building size, construction
type, number of units• Type of housing and unit mix: Condominiums,
apartments, market-rate, senior, or affordable housing
• Cathedral Program Space: Cost to the Cathedral for the program space (approx. 14,209 SF warm shell) plus $100/SF TI allowance
• Mission Statement: Is the proposal consistent with the goals of the Cathedral?
• Cathedral parking: Cost and location within the underground garage for 70 dedicated Cathedral spaces
• Cathedral HOA dues for its program space and parking
• Time-line and entitlement risk; i.e. will the project require an amendment to the Site Development Permit
A+ REAL ESTATE
EXECUTIVE SUMMARY
Location · Park Views · Ocean/Bay Views · Museums · San Diego Zoo · Restaurant · Rents · Entitlements
This Site Has It All
Project OverviewThe site is located in San Diego’s Bankers Hill sub-market. This vivacious neighborhood is adjacent to Balboa Park, the nation’s largest (1200 acres) urban cultural park that includes 15 museums, performing arts venues, gardens and the San Diego Zoo. The neighborhood is home to some of San Diego’s finest and most iconic restaurants, such as Mister A’s and The Prado. The site is also in close proximity to downtown San Diego, Little Italy and the airport. New housing projects are changing the landscape in the surrounding blocks, with new condo buildings planned for 6th Avenue and Palm Street, 5th Avenue and Nutmeg Street, and 5th Avenue and Maple Street.
PRICE: Seller (a subsidiary of The Cathedral Church of St. Paul) will be reviewing offers subject to the following:• Purchase price• Timing and amounts of earnest money deposits and payment at closing• Closing deadline• Development program: Building size, construction type, number of units• Type of housing and unit mix: Condominiums, apartments, market-rate, senior,
or affordable housing• Cathedral Program Space: Cost to the Cathedral for the program space
(approx. 14,209 SF warm shell) plus $100/SF TI allowance • Mission Statement: Is the proposal consistent with the goals of the Cathedral?• Cathedral parking: Cost and location within the underground garage for 70
dedicated Cathedral spaces• Cathedral HOA dues for its program space and parking• Time-line and entitlement risk; i.e. will the project require an amendment to the
Site Development PermitSELLER’S OFFICE/ PARKING SPACE:
Seller will need to own at the completion of the project approximately 14,209+/- contiguous office space anywhere in the building. The seller will want the developer to allocate $100/SF for Tenant Improvements. Seller is open to the idea of tandem parking as well as a managed parking arrangement with the Cathedral and residential tenants.
LOCATION: Northern portion of the block bounded by 5th Avenue, 6th Avenue and Olive Street, San Diego, CA 92103
APNs: 452-713-01 and 452-713-11
APPROX LAND AREA:
Below Grade – 25,805 SF Building Pad - 16,549 SF
GROSS FLOOR AREA: 166,389 SF
Offering Summary
UNITS: 65 (146) units are entitled for the site.
PARKING: Residential 134Office 30Retail 42Total 206
ENTITLEMENTS: The project is entitled for 65 units in 15 stories; 158 feet building height; 166,389 gross square feet (151,256 SF of residential, 14,209 SF of office, and 924 SF of retail). An additional 81 units (for a total of 146) may be available through amendments to the permits and vesting tentative map.
Height Limit: 158 feet as entitled. The area surrounding the subject parcel is subject to the ”Interim Height Ordinance;” i.e. section 1512.0205 of the San Diego Municipal Code, which reads as follows:
1512.0205 Structure Height Limits(2) South of Ups Street: Development located south of the centerline of Upas Street shall not exceed a structure height of 65 feet in Area B, as designated on figure 1512-03A, on file in the Office of the City Clerk as Document No. 00-19773, without approval of a Process Four Mid-City Communities Development Permit in accordance with Section 1512.0204(b).
This project as approved is exempt from this requirement; however, any permit amendments could cause this provision to become applicable.
AFFORDABLEHOUSING: $9.51/SF (CLICK HERE for more information)
ZONING: CV-1 (Commercial Village) and MR-400 (Mid-City Residential)
BROKERS: There is no co-operating broker fee available. Please look to your buyer for compensation.
OfferingSummary
SITE AERIAL
NUTMEG ST
OLIVE ST
5TH A
VE
4TH A
VE
6TH A
VE B
ALB
OA
DR
NS
PROJECT RENDERING
PACIFICOCEAN
SAN DIE
G BR
JAMACHA BLVD
MARKET
LAJO
LLABLVD
ARDATH
EL CAJON BLVD
MIRAMAR RD
DEL MAR HEIGHTSRD
MAIN ST
.
POWAY RD
SCRIPPS POWAY PARKWAY
PALOMAR AIRPORT RD SAN MARCOS BLVD
ELCA
MIN
OR
EAL
RANC
HOSA
NTA
FERD
ENCINITAS BLVD
MANCHES
TER
AVE
EL CAMINO DEL NORTE
DEL DIOS HIGHWAY
VIA DE LA VA
LLE
POMERADO RD
POM
ERAD
ORD
SORRENTO VALLE
Y BLVD
BLACK
MOU
NTAIN
RD
N
TORREYPIN
ESRD
GEN
ESSEE
MIS
SION GORGERD
FRIARS RDRO
SECR
ANS
CARMELMOUNTAIN RD
BER NARDO CEN
TER
DR
ENCINITAS
CARLSBAD
CHULA
NATIONAL CITY
ESCONDIDO
SAN MARCOS
POWAY
RANCHOBERNARDO
LEMONGROVE
CORONADO
POINT LOMA
OCEAN BEACH
MISSION BEACH
PACIFIC BEACH
LA JOLLA
DEL MAR
UTC
SORRENTOMESA
SCRIPPS RANCH
TORREY PINES
PARK
MIRAMAR
KEARNYMESA
SOLANA BEACH
SANTEE
EL CAJON
LEUCADIA
GARNET AVEBALBOA AVE
GOVERNOR
MISSION VALLEY
DOWNTOWN
LOCATOR MAP
BIRD’S EYE – SOUTHWEST
CORONADO
PACIFIC OCEAN
POINT LOMA
DOWNTOWNSAN DIEGO
SAN DIEGOBAY
CONVENTIONCENTER
BALBOAPARK
PETCO PARK
6 TH AVEOLIVE ST
PALM ST
NUTMEG ST
MAPLE STLAUREL ST
5 TH AVE
63
ST. PAUL’SCATHEDRAL
THE PARK BANKERS HILL (CLICK HERE)
BIRD’S EYE – EAST
SAN DIEGOZOO
NORTH PARK
BALBOA PARKENTRANCE
REUBEN H. FLEET SCIENCE CENTER
NATURAL HISTORYMUSEUM
MUSEUM OFMAN
MORLEYFIELD
MUSEUM OFART
NAVY MEDICALCENTER
SPRECKELS ORGAN PAVILION
LAWN BOWLING
DOGPARK
OLIV
E S
T
NU
TMEG
ST
6TH AVE
BALBOA DR
5TH AVE
4TH AVE
ST. PAUL’SCATHEDRAL
63
HALL OF CHAMPIONS / AIR & SPACE MUSEUM
CONFIDENTIALITY AGREEMENT Sixth and Olive SWC 6th Avenue and Olive Street, San Diego, CA 92103 The undersigned has been advised that DTZ has been retained on an exclusive basis by the Owner and/or its affiliates (the Owner) with respect to the offering for sale located at the SWC 6th Avenue and Olive Street, San Diego, CA 92103 and described as APNs 452-713-01 and 452-713-11 (the "Property"). The Owner has indicated that all inquiries and communications with respect to the contemplated sale of such Property be directed to DTZ. The Owner shall pay all fees due DTZ in connection with the sale of the Property. The undersigned acknowledges that any other fees due to brokers for the undersigned’s representation will not be the responsibility of the Owner or DTZ. The undersigned also hereby acknowledges that it is a principal or an investment advisor in connection with the possible acquisition of the Property. On behalf of the Owner, DTZ may make such Confidential Information/Evaluation Material available to the undersigned upon execution of this Confidentiality Agreement. The Confidential Information/Evaluation Material is intended solely for your use in considering whether to pursue negotiations to acquire the Property. This is not an agreement to sell the Property nor an offer of sale. No agreement binding upon the Owner of the Property, or any of its associated or affiliated companies, shall be deemed to exist, at law or equity, until the Owner of the Property enters into a formal binding agreement of sale. The Confidential Information/Evaluation Material does not purport to provide a necessarily 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 that a prospective investor may need or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of DTZ; and therefore, are subject to material variation. This Confidential Information/Evaluation Material does not constitute an indication that there has been no change in the business or affairs of the Property or DTZ since the date of preparation of this Confidential Information/Evaluation Material. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective buyers. Neither DTZ nor any of its respective officers, agents or principals has made or will make any representations or warranties, expressed or implied, as to the accuracy or completeness of this Confidential Information/Evaluation Material or any of its contents, and no legal commitment or obligation shall arise by reason of the Confidential Information/Evaluation Material or its contents. Analysis and verification of the Confidential Information/Evaluation Material is solely the responsibility of the prospective buyer. The Confidential Information/Evaluation Material contains brief, selected information pertaining to the business and affairs of the Owner, and has been prepared by DTZ, primarily from information supplied by the Owner or the Owner's agent. It does not purport to be all-inclusive or to contain all the information that a prospective purchaser may desire. Neither DTZ, nor the Owner make any representation or warranty, expressed or implied, as to the accuracy or completeness of the Confidential Information/Evaluation Material and no legal liability is assumed or to be implied with respect thereto. By executing this agreement, the undersigned agrees that it will hold and treat the Confidential Information/Evaluation Material in the strictest confidence, that it will not photocopy or duplicate it, that it will not disclose the Confidential Information/Evaluation Material or any of its contents to any other entity (except for outside advisors retained by it if necessary, in its opinion, to assist in its determination of whether or not to make a proposal, provided that such persons agree to be bound by the terms of this confidentiality agreement) without prior written authorization of DTZ, and that it will not use the Confidential Information/Evaluation Material or any of its contents in any fashion or manner detrimental to the interest of DTZ. If the undersigned does not wish to pursue acquisition negotiations it hereby agrees to return the Confidential Information/Evaluation Material to DTZ.
Company: Address:
Signature:
Name (Print): Phone:
Title: Facsimile:
Date: E-Mail Address
DUE DILIGENCE REQUEST
If you would like to receive additional due diligence for the Property, please complete the above and return via facsimile to us at (858) 630-6320 Attn: Tim Winslow or email to [email protected]
