FOR SALE - LoopNet...Property Address 259 Terracina Blvd, Redlands, CA 92373 Building Size Approximately 5,000 square feet Lease Commencement January 1, 2005 Lease Expiration December

medical office buildingleased investment

259 Terracina Blvd, Redlands, CA 92373

OFFERING MEMORANDUM

±5,000 SF Single Tenant Medical Office Building

FOR SALE

CONFIDENTIALITY AND AGENCY DISCLAIMER STATEMENTThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Coldwell Banker Commercial SC and should not be made available to any other person or entity without the written consent of CBC-SC. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. CBC-SC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, CBC-SC has not verified, and will not verify, any of the information contained herein, nor has CBC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

© 2017 Coldwell Banker Commercial ® is a registered trademark licensed to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Officeis Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.

Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks licensed to Coldwell Banker Commercial Affiliates. Each Office is Independently Owned and Operated. All information contained herein has been obtained from sources deemed reliable. However, no warranty or guarantee is made as to the accuracy of the information.CalBRE License # 01998652

TABLE OF CONTENTS

01 EXECUTIVE SUMMARYINTRODUCTIONINVESTMENT OVERVIEW

02 PROPERTY OVERVIEWPROPERTY DESCRIPTIONPROPERTY OVERVIEWTHE TENANTTENANT PROFILEFLOOR PLANPARCEL MAPSITE PLANPROPERTY AERIAL

03 FINANCIAL OVERVIEWLEASE ABSTRACT

04 LOCATION OVERVIEWCITY OF REDLANDSDEMOGRAPHICSLOCATION MAP

Rick LazarSENIOR VICE PRESIDENT

[email protected]

CalBRE # 00549349

Spencer HullSENIOR VICE PRESIDENT

[email protected]

CalBRE # 01507542

EXCLUSIVE INVESTMENT

ADVISORS

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3 259 TERRACINA BLVD | REDLANDS | CALIFORNIA | 92373

Introduction

Coldwell Banker Commercial SC is proud to offer for sale the approximately 5,000 square foot single tenant medical office building located at 259 Terracina Blvd, Redlands, California. The property is located South of the I-10/210 interchange and Barton Road. The property is 100% occupied by a single tenant, Beaver Medical Group (the parent company is Epic Management, LP).

01

Investment OverviewAsking Price: $1,950,000.00

CAP Rate: 6%January 1, 2017 to December 31, 2017 Net Operating Income: $117,202.00

Lease Type: NNN

EXECUTIVE SUMMARY

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02


Property DescriptionThe building is rectangular in shape and is situated on four parcels of land, with a combined square footage area of approximately 15,000 square feet. The building is of wood frame/stucco construction with decorative block accents along the north, west and east sides. The building was constructed in 1977 and has been maintained in good condition. The roof is composed of a combination flat membrane style roof along the perimeter and also has an elevated center section that is a tent shaped area utilizing concrete roof tiles. Below the tile portion of the roof are high bay windows which provide indirect lighting to the inside of the building. There are two heating/air conditioning units servicing the building, situated on the south side of the property. The exterior of the property is nicely landscaped. The main entrance to the building is from the north and there is an employee entrance on the east side. There are a total of 16 parking spaces including two handicapped spaces. There is Americans with Disability Act (ADA) access to the building from the main entrance. There is a trash bin enclosure on the east side of the building. A driveway allows access to the property from Terracina Blvd. at the front and a driveway easement allows access from Fern Avenue at the rear and Laurel Avenue to the south.

The interior of the building consists of a reception/business office, a waiting room,8 exam rooms, 2 private offices, a nurse’s work station, a laboratory, several closet/storage areas, an X-ray room, 3 restrooms and an employee lounge room. The basement is utilized primarily for storage, computer equipment and electrical switchgear

PROPERTY OVERVIEW

Property OverviewTenant: Beaver Medical Group (Parent company

is Epic Management, LP)

Current Monthly Rent: $9,766.90

Net Operating Income: $117,203.00

Remaining Term: Two years

Rent Increases: Annual CPI Increase

Option to Renew: One Five Year Option

Lease Expiration: December 31, 2019

APN: 0172-161-04, 05, 06 & 07

Gross Square Footage: Main Level is ±4,170 SFBasement is ±830 SF

Year Built: 1977

The TenantBeaver Medical Group operates the facility as a medical office for the practice of Orthopaedic medical services. For over 60 years, Beaver Medical Group has offered primary and specialty medical services throughout the Inland Empire. In addition, they have a walk-in urgent care centers which are open every day of the the year. Beaver also offers free health education programs and a free nurse advice helpline.

One of the most prominent features about the building is that it is located directly acrowss the street from Redlands Commuity Hospital (RCH). RCH is a 229 bed, acute care facility providing quality healthcare, 24 hours a day, to people of all ages throughout the Inland Empire, East Valley, San Bernardino Mountains and San Gorgonio Pass regions. RCH has been in existence for more than 100 years. Since moving to this location in 1929, the hopsital has added several wings, multi-story buildings, an patient care towers. This has included facilities to house the laboratory and radiology departments, an education pavilion as well as a maternity and surgery services building.


PROPERTY OVERVIEW

Tenant ProfileBeaver Medical Group

HistoryBeaver Medical Group was founded in Redlands over 60 years ago by World War II veterans, including Dr. Meredith Beaver, pictured right. Learn more about Beaver's history.

RatingsBeaver Medical Group has maintained a reputation for quality medical service. Learn more about independent ratings and certifications earned by Beaver Medical Group.

Community ServiceBeaver Medical Group supports many local events and organizations. In addition, the Beaver Medical Clinic Foundation grants scholarships to schools throughout the Inland Empire. Learn more about community service.

Career OpportunitiesBeaver Medical Group and its management company, EPIC Management, LP, are top employers in the Inland Empire with over 1,300 employees. Learn more about careers and employment benefits.

Mission StatementOur Vision: To perpetuate our legacy as the health care "Provider of Choice" and "Employer of Choice" in our region.Our Mission: To deliver the highest quality patient care and service.Our Commitment to our Patients: We value you as a person and an active participant in your health care. We will provide you with the highest quality medical care and timely service, while treating you with courtesy and respect. We will promote healing relationships based on trust, compassion and communication.

Beaver Medical Group patients benefit from one of the most comprehensive medical groups in Southern California with over 200 doctors in 25 specialties along with many on-site services such as laboratory drawing, radiology, optical shops and more. Physicians accept most insurance plans.Beaver Medical Group offers:

• Primary Care physicians• Specialty Care physicians• Facilities located throughout the Inland Empire• Free Health Education programs• Walk-in Urgent Care Centers open every day of the year• Free Nurse Advice Helpline • On-site services


PROPERTY OVERVIEW

Floor PlanMain Level Basement


PROPERTY OVERVIEW

Parcel Map Site Plan


PROPERTY OVERVIEW

Terracina Blvd

Laurel Ave

259

TERRACINA BLVD

W Fern Ave

W Olive Ave

MEDICAL OFFICES

MEDICAL OFFICES

MEDICAL OFFICES

SURGERY CENTER

Aerial


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03 Lease Abstract

Tenant Epic Management LP (Beaver Medical Group)Property Address 259 Terracina Blvd, Redlands, CA 92373

Building Size Approximately 5,000 square feetLease Commencement January 1, 2005

Lease Expiration December 31, 2019Renewal Options One (1) Five (5) Year Option

Lease Type NNNAnnual Base Rent $117,203.00 (2017)

Monthly Base Rent $9,766.90Monthly Rent PSF $1.85

Rent Escalations Annual CPI IncreaseTermination Option None

Operating ExpensesProperty Taxes Tenant’s Responsibility

Property Insurance Tenant’s ResponsibilityUtilities Tenant’s Responsibility

Common Area Expenses Tenant’s ResponsibilityRepairs and Maintenance Tenant’s Responsibility

HVAC Tenant’s ResponsibilityRoof Tenant’s Responsibility

Fire Insurance Tenant’s Responsibility

*All lease provisions to be independently verified by Buyer during Due Diligence Period

Beaver Medical Group


FINANCIAL OVERVIEW

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04City of RedlandsOnce part of the Spanish Mission lands, the city of Redlands, incorporated in 1888, in San Bernardino Valley, is located approximately 63 miles east of Los Angeles, covering an area of 36 square miles and serves a population of more than 70,000 residents. The town is bordered by the cities of Loma Linda, San Bernardino, Highland, Moreno Valley, Yucaipa, and Beaumont.Incorporated in 1888, Redlands derived its name from the color of the area’s adobe soil. The city traces its roots to the planning of Frank E. Brown and E. G. Judson, Easterners who met in Southern California in the late 19th-century and envisioned the creation of an idyllic agricultural and residential community. The city has been visited by three U.S. Presidents: William McKinley was the first in 1901, followed by Theodore Roosevelt in 1903 and William Howard Taft in 1909.At the turn of the 20th century, Redlands was the “Palm Springs” of the next century, with roses being planted along many city thoroughfares. In fact, Redlands was the first city to have center medians with trees or gardens in between roads. Located in an ideal climate for citrus production, Redlands soon began calling itself the Navel Orange Capital of the World. The early 20th-century arrival of the Pacific Electric Railroad brought a higher degree of prosperity to the city, which started becoming also known as a vacation destination. Much of the city’s history is still in view today in downtown Redlands, whose State Street is mostly comprised of beautiful historic buildings and locally-owned boutiques and shops.Local landmarks include the A.K. Smiley Public Library, a Moorish-style library built in 1898, and the Redlands Bowl, built in 1930 and home of the oldest continuously free outdoor concert series in the United States. Located behind the Smiley Library is the Lincoln Shrine, the only memorial honoring the “Great Emancipator”, the sixteenth president, west of the Mississippi River. As time goes by, Redlands became home to various light manufacturing firms and a bedroom community for the military personnel and contractor employees of the aerospace industry that supported missions at Norton Air Force Base as well as the Lockheed Propulsion Company plant in Mentone. Redlands is home to notable colleges include University of Redlands, California Preparatory College, Community Christian College and Salon Success Academy – Redlands.


LOCATION OVERVIEW

1 Mile 3 Mile 5 Mile

Population2022 Projection 11,091 64,132 121,5772017 Estimate 10,663 61,937 117,4972010 Census 9,847 58,769 112,137Growth 2017 -2022 4.01% 3.54% 3.47%

Households2022 Projection 4,508 23,763 42,8012017 Estimate 4,333 22,979 41,4112010 Census 3,999 21,983 39,788Growth 2017-2022 4.04% 3.41% 3.36%

2017 Est. Population by Single-Classification RaceWhite Alone 8,061 44,671 84,099Black Alone 629 4,263 8,342American Indian & Alaskan 114 883 1,735Asian Alone 1,389 9,321 18,051Pacific Islander & Hawaiian 42 342 622Other Race 428 2,457 4,648Hispanic Origin (Any Race) 2,483 19,477 39,056

2017 Average Household Income $90,025 $85,807 $88,477

Demographics


LOCATION OVERVIEW

FONTANA

Baseline Street

SAN BERNARDINO

LOMA LINDA

SITE

JURUPA VALLEY

San Bernardino Airport

COLTON

REDLANDS

Bryant Street

E San Bernardino Ave

Lugonia Ave

E Citrus Ave

Barton Rd

Alabam

a St

Greenspot RdW 5th St

Slover Ave

Arm

stron

g Rd

Van Buren Blvd

Baseline Ave

Pepper Ave

S Waterm

an Ave

Highland Ave

Orange St

California St

San Timoteo Canyon Rd

Terracina Blvd

W Fern Ave

Garden St

Location Map


Terracina Blvd

Laurel Ave

259

TERRACINA BLVD

W Oliv

e Ave

Rick LazarSENIOR VICE [email protected] # 00549349

Spencer HullSENIOR VICE [email protected] # 01507542

1200 CALIFORNIA STREET, SUITE 130REDLANDS, CA 92374

(909) 793-3600CBCSOCALGROUP.COM

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Documents

FOR SALE - LoopNet...Property Address 259 Terracina Blvd, Redlands, CA 92373 Building Size Approximately 5,000 square feet Lease Commencement January 1, 2005 Lease Expiration December