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SHAWN WILLIS INCOME PROPERTY SERVICES A.G.
1343 Locust Street, Suite 205
Walnut Creek, CA 94596
DRE # 01095619
925.988.0502 [email protected]
Copyright © 2018
Income Property Services
All rights reserved. The information provided
herein is for general purposes only and is
subject to change without notice. Nothing
contained herein is intended to a binding rep-
resentation. The owner and broker make no
representation as to the information contained
herein, or as to the character, occupancy, or
configuration of the property described herein.
It is the responsibility of the prospective buyer
to independently verify all of the information.
1595 HOLIDAY LANE, FAIRFIELD, CA 94533
OFFERED AT
$9,000,000 6.3% CAP RATE
• EXCELLENT VISIBILITY
• 42,657 SQUARE FEET
• $211/SQUARE FOOT
• SEVERAL NNN LEASES
• SEVERAL NATIONAL TENANTS
FOR SALE HOLIDAY GALLERIA
Page 2
CONTENTS Contents ............................................................................... Page 2
Overview ............................................................................... Page 3
Lease Schedule ................................................................... Page 4
Income & Expenses ............................................................. Page 5
Comparables ................................................................. Pages 6-10
Rent Survey & Photos
Rent Survey Map
Sales Comparables
Sales Comparables Photos
Sales Comparables Map
Fairfield Facts .................................................................... Page 11
Fairfield Employees ........................................................... Page 12
Fairfield Shopping .............................................................. Page 13
Potential Lot Split .............................................................. Page 14
Neighborhood Map ............................................................ Page 15
City Map ............................................................................. Page 16
Regional Map ..................................................................... Page 17
Parcel Map ......................................................................... Page 18
Copyright © 2018 Income Property Services. All rights reserved.
The information provided herein is for general purposes only and
is subject to change without notice. Nothing contained herein
is intended to a binding representation. The owner and broker
make no representation as to the information contained herein, or
as to the character, occupancy, or configuration of the property
described herein. It is the responsibility of the prospective buyer to
independently verify all of the information.
Page 3
OVERVIEW
Holiday Galleria is an extremely well located retail center with outstanding freeway identity
along I-80 in Fairfield, CA. The property draws further attention as a landmark from its
towering 65 foot pylon sign with two sided tenant panels. In short, there are few retail
properties in Solano County that possess the visibility, identity, and traffic counts of
Holiday Galleria. The property has been extensively renovated during the past several
years, including new stucco facades, signage, landscaping, paint, and countless
interior and tenant improvements.
The property is zoned “CR” per the City of Fairfield. This allows many different types of
business uses and offers flexibility for an owner/user or investor. The demographics of
Fairfield are strong with a total population of 113,500±.
Currently, the property is occupied by several national and regional retailers such as Harbor
Freight Tools, Lumber Liquidators, Mancini’s Sleep World, CosmoProf and Mattress Firm,
Soccer Coliseum, and Ace Furniture are strong, local tenants. The majority of the leases
currently in place offer long term stability.
Unlike many of the retail properties being marketed throughout Northern California, Holiday
Galleria offers an investor an opportunity to purchase “real value” as opposed to merely
“buying an inflated lease.” There is proven upside in the rent roll that a new owner will
capitalize on immediately and in the future. Additionally, the asking price of Holiday Galleria
is far less than the cost to replace it today.
HIGHLIGHTS
ADDRESS 1595 Holiday Lane, Fairfield, CA 94533
BUILDING SQUARE FEET 42,657 +/-
LOT SIZE 3.26 +/- Acres
YEAR BUILT 1986 (renovated 2010-2013)
APN 152-290-020
ZONING CR
DESCRIPTION Three buildings, single story, retail
CONSTRUCTION Wood frame
ROOF Pitched, metal
HVAC Individual, forced air units for heat and air
UTILITIES Separately metered for electricity, gas
PARKING 144 on site spaces
LEASE SCHEDULE
Page 4
SUITE NO. TENANT SQ.
FEET START DATE
LEASE EXPIRES
CAM %
LEASE TYPE
MONTHLY BASE RENT
MONTHLY BASE
RENT/SF
MONTHLY EST. NNN
MONTHLY SIGNAGE OPTIONS
NEXT INCREASE
DATE
RENT INCREASE
TYPE
Bldg. A-1 Mancini's 5,921 12/1/97 10/31/2023 14.00% NNN $10,065.70 $1.70 $2,200 $425.00 1 - 5 yr At option scheduled
Bldg. A-2 VACANT 1,583 3.70% NNN $0.00
Bldg. A-3 Ace Furniture 4,343 10/1/10 MTM 10.18% Gross $5,000.00 $1.15
Bldg. B-1 Mattress Firm 5,980 4/31/98 12/31/20 14.00% NNN $8,970.00 $1.50 $1,495 $480.24 scheduled
Bldg. B-2 Soccer Coliseum 3,500 6/19/12 TBD 6.91% Gross $5,975.00 $1.71
Bldg. B-3 CosmoProf Sally Beauty 3,000 3/28/03 01/31/23 8.21% NNN $5,000.00 $1.67 $460 $0.00 1-5 yr 2/1/2023 scheduled
Bldg. B-4/5 Lumber Liquidators 6,430 4/1/14 12/31/28 15.10% NNN $9,002.00 $1.40 $2,894 1/1
2019 scheduled
Bldg. C Harbor Freight Tools 11,900 7/20/11 10/31/21 28.00% Gross $13,090.00 $1.10 11/1/2021 scheduled
TOTALS 42,657 $57,102.70 $7,049
Page 5
INCOME & EXPENSES
RENTAL INCOME APP.
SQUARE
FEET
CURRENT
BASE
RENT
CURRENT
RENT/
SQ FT
FULL
OCCUPANCY
BASE
RENT [2]
PROJECTED
RENT/
SQ FT
(FROM LEASE SCHEDULE) 42,657 $57,103 $1.34 $60,269 $1.41
Signage income $905 $905
TOTALS 42,657 $58,008 $1.36 $61,174 $1.43
INCOME
MONTHLY RENT $58,008 $61,174
ANNUAL RENT $696,095 $734,084
VACANCY 5.00% ($34,805) ($36,704)
GROSS RENT $661,291 $697,380
NNN Recapture [1] $88,661 $95,232
TOTAL INCOME $749,952 $792,612
EXPENSES
COMMON AREA MAINTENANCE 2017 $7,200 $7,200
INSURANCE 2017 $9,912 $9,912
PROPERTY TAXES (Estimated) 1.1145% $100,303 $100,303
LEVIES AND ASSESSMENTS Actual $1,033 $1,033
PROPERTY MANAGEMENT 4.00% $29,998 $31,704
REPAIRS & MAINTENANCE Estimated $10,664 $10,664
REPLACEMENTS Estimated $5,000 $5,000
FIRE CONTROL 2017 $6,521 $6,521
PG&E 2017 $8,521 $8,521
WATER 2017 $3,649 $3,649
TOTAL EXPENSES $182,801 0.36 $184,507 $0.36
NET OPERATING INCOME $567,151 $608,105
DEBT SERVICE ($287,907) ($287,907)
CASH FLOW $279,244 $320,198
PRINCIPAL PAY-DOWN $67,113 $67,113
TOTAL RETURN $346,357 $387,311
CAP RATE 6.30% 6.76%
PRICE PER SQUARE FOOT $210.99 $210.99
CASH ON CASH 6.2% 7.1%
TOTAL PRE-TAX RETURN 7.7% 8.6%
PURCHASE PRICE $9,000,000 $9,000,000
DOWN PAYMENT $4,500,000 50% $4,500,000 50%
PROPOSED NEW FIRST LOAN [3] $4,500,000 50% $4,500,000 50%
[1] BASED ON 2017 ACTUAL AND PROJECTED
[2] Vacant space projected at $1.40/s.f. NNN
[3] 4.94% rate, 30 year amortization, fixed for 5 years, 1.7 DCR
RENT SURVEY & PHOTOS
Page 6
Central Way Plaza
4455 Central Way
BevMo
1545 Holiday Lane
Gateway Courtyard
1570-1650 Gateway Blvd.
Staples/Starbuck's Center
1200 Oliver Road
Holiday Galleria
1595 Holiday Lane
BevMo
1545 Holiday Lane
Staples/Starbuck's Center
1200 Oliver Road
Gateway Courtyard
1570-1650 Gateway Blvd.
Central Way Plaza
4455 Central Way
Multi-tenant retail complex with
I-80 frontage, 65' two sided pylon
sign, and strong identity. National
retailers including Harbor Freight
Tools, Lumber Liquidators,
CosmoProf.
Free standing, single tenant
building leased to BevMo for
10 years with two, 5-year
options. Built in 1988,
renovated in 2008. 8,996 s.f.
Multi-tenant retail complex with
Staples, Starbucks and Leslie's
Pool Supply. Built in 2008.
24,990 s.f. total building area.
Multi-tenant retail complex
with Chipotle, Cold Stone,
Quiznos, Barnes & Noble
and Cost Plus
Multi-tenant retail complex
with I-80 exposure and
proximity to HWY 12.
4.64/1000 parking, across
from Starbuck's drive
through.
$1.49/s.f.
[current average rents - NNN &
Gross]
$1.92/s.f. NNN $2.00-$3.85/s.f. NNN $2.00/s.f. NNN ($.86/s.f.) $2.20/s.f. NNN
RENT SURVEY MAP
Page 7
SUBJECT PROPERTY
1595 HOLIDAY LANE
1570-1650 Gateway Blvd
1200 Oliver Road
1545 Holiday Lane
4455 Central Way
Page 8
SALES COMPARABLES
ADDRESS SALE
PRICE
SQUARE
FEET
COST/
SQ. FEET CAP BUILT
SALE
DATE COMMENTS
Watt Square Shopping Center
6737 Watt Avenue
North Highlands
$6,600,000 40,798 $161.77 5.76% 1984 9/14
2016
Retail center anchored by Ross, Rite Aid, Napa Auto Parts
and Mountain Mikes Pizza. Located at Watt Avenue &
Elkhorn Blvd.
Sun Ridge Plaza
601-621 Orange Drive
Vacaville
$8,290,000 42,394 $195.55 7.33% 1989 7/22
2016
Sun Ridge Plaza, retail strip center with four tenants
including DMV and Blake Austin College. 48% LTV loan
with Zions National Bank, adjacent Vacaville Auto Mall
Pinole Vista Shopping Center
1530 Fitzgerald Drive
Pinole
$21,200,000 58,318 $363.52 N/A 1981 5/8
2015
Lucky Supermarket and Kmart anchored neighborhood
shopping center. Starbucks & Carl's Jr. pads. Other tenants
including Noah's bagel. Pylon signage.
Moeser Square
10544-10598 San Pablo Avenue
El Cerrito
$6,050,000 18,872 $320.58 6.75% 1965 4/3
2015
Unanchored shopping center located across from a CVS
anchored center. 16 local and regional tenants with an
average remaining term of 5 years. New 64% LTV
financing with First Republic Bank.
Dias Plaza
13110 San Pablo Avenue
San Pablo
$6,895,000 47,920 $143.89 5.79% 1960 Pending Neighborhood shopping center anchored by Smart & Final,
Autozone and Round Table Pizza. 2.77 acre site.
TOTAL $10,608,750 41,876 $255.88 6.41%
Page 9
SALES COMPARABLE PHOTOS
Watt Square Shopping Center
6737 Watt Avenue, North Highlands
Sun Ridge Plaza
601-621 Orange Drive, Vacaville
Pinole Vista Shopping Center
1530 Fitzgerald Drive, Pinole
Moeser Square
10544-10598 San Pablo Avenue, El Cerrito
Dias Plaza
13110 San Pablo Avenue, San Pablo
SALES COMPARABLES MAP
Page 10
SUBJECT PROPERTY
1595 HOLIDAY LANE
Dias Plaza
13110 San Pablo Avenue
San Pablo
Moeser Square
10544-10598 San Pablo Ave
El Cerrito
Pinole Vista Shopping Center
1530 Fitzgerald Dr, Pinole
Sun Ridge Plaza
601-621 Orange Dr, Vacaville
Watt Square Shopping Center
6737 Watt Ave, North Highlands
Page 11
Fairfield Facts . . . • Fairfield is a thriving community where families and businesses flourish.
• It offers a diverse economy in the heart of Solano County.
• Small town values remain, but it is more than an attractive bedroom community.
• Its strategic location, transportation networks, value priced properties, and
proximity to Northern California's attractions, make Fairfield a prime location
for commerce.
DEMOGRAPHICS
Size: 36.7 square miles
Population (10/09): 106,502 persons
Population Growth (avg.): 2% per year (90-09)
Projected Population 2014: 113,532 persons
Median Age (2009): 33.5 years
Average Household Income (2009): $79,226
Labor Force (09/09): 49,400
Employed Residents (09/09): 43,200
Unemployment Rate (09/09): 12.60%
Projected Jobs (2020): 55,570
Regional Labor Force (10/09): 1,605,300
% of Workforce who speak English: 77%
% of pop. w/ High School Diploma or higher: 84.50%
% of pop. w/ College Degree: 33%
Crime Rate (2008): 43.1 per 1,000 persons
Elevation: 15 to 400 feet above sea level
Mean Daily Temperature: 62 degrees average
Fire Protection: ISO Rating 3 fire class
Page 12
Fairfield Employers . . . “Fairfield, with its diverse and qualified workforce, has the right set of demographics
for us to grow together.”— C. Larry Peters, CEO, West-Com Nurse Call System
FAIRFIELD COMPANY TYPE JOBS
Travis Air Force Base Military Base 14,353
County of Solano Government 2,850
Fairfield-Suisun Unifield School District Education 2,000
Northbay Medical Center Hospital 1,115
Solano Community College Education 650
City of Fairfield Government 571
Sutter Regional Medical Foundation Medical 475
Jelly Belly Candy Company Candy and Confections 461
Copart Corporate Headquarters 450
Westamerica Bancorporation Corporate Headquarters 407
Pride Industries Service 343
Anheuser Busch Brewery 315
Macy's Department Store 300
Professional Hospital Supply Hospital Supply 257
Wal-mart Retailer 241
J.C. Penney Department Store 235
California State Automobile Association Insurance 225
Partnership Healthplan Claims Center 200
Super Stores Inc./Sunyside Farms Dairy Products 200
Target Retailer 200
Ball Metal Container Group Beverage Containers 181
Home Depot Retailer 180
Costco Warehouse Retail 160
Sears Department Store 160
Abbott Labs - Ross Products Division Nutritional Products 151
GeoVera Holdings Corporate Headquarters 145
Amcor PET Plastics Plastics Manufacturing 136
United Parcel Services Delivery Services 136
Meyer Cookware US Packaging/Distribution 130
Safeway, Waterman Location Grocery 126
Food Maxx Grocery 120
Raley's #331 Grocery 118
Pacific Bell Data Center Telephone Data Center 114
Daily Republic Newspaper 108
Scott Lamp Company Manufacturing 101
Page 13
Fairfield Shopping . . . “Fairfield, with its diverse and qualified workforce, has the right set of demographics
for us to grow together.”— C. Larry Peters, CEO, West-Com Nurse Call System
Fairfield Corners
FedEx/Kinkos
Starbucks
Grocery Outlet/CVS Drugs
Grocery Outlet
CVS Drugs
The Village
Bonfare Market
Five Star Car Wash
Hillside Terrace
CVS Drugs
El Pollo Loco
Fairfield Square
Deloux Cosmetology
S&L Thai
Kmart Center
Kmart
Radio Shack
Winery Square
Food Maxx
Walgreen's
Solano Storage Center
Solano Storage
Mail Mart Plus
Garaventa Retail Wal-Mart Center
Wal-Mart
Waterman Village
Safeway
Mission Village
Wal-Mart Supercenter
Laurel Creek Shopping Center Green Valley Ranch
Marriott Fairfield Inn & Suites
Holiday Lane
Bev Mo
Midfare Plaza
Mexico Meat Market
Geri-Towne
Raley's
Patelco Credit Union
Huckleberry's Restaurant
Gateway Courtyard
Barnes & Noble
Cost Plus
Linens N' Things
Petco Center
Petco
Golden 1 Credit Union
Peet's Coffee
Raley's Plaza
Raley's
Washington Mutual Bank
Westfield Shoppingtown
Solano Mall
Edwards Theater
Best Buy
JC Penny
Macy's
Mervyn's
Sears
Green Valley Crossing
Safeway
Long's Drugs
Ethan Allen
Pet Club
TJ Maxx
Bank of America
Gateway Plaza
Babies R Us
Michael's
Office Max
Ross Dress for Less
Trader Joe's
Staples Center
Staples
Costco Center
Costco
Fairfield Home & Garden Center
Target
Home Depot
Oakmond Shopping Center
Food Maxx
Kragen Auto Parts
POTENTIAL LOT SPLIT for HOLIDAY LANE
POTENTIAL LOT SPLIT
FOR EACH OF THE THREE BUILDINGS
Page 14
Page 15
NEIGHBORHOOD MAP
SUBJECT
PROPERTY
Page 16
CITY MAP
SUBJECT PROPERTY
HOLIDAY GALLERIA 1595 HOLIDAY LANE
FAIRFIELD, CALIFORNIA
Page 17
REGIONAL MAP
SUBJECT PROPERTY
HOLIDAY GALLERIA 1595 HOLIDAY LANE
FAIRFIELD, CALIFORNIA
Page 18
PARCEL MAP
SUBJECT PROPERTY
HOLIDAY GALLERIA 1595 HOLIDAY LANE
FAIRFIELD, CALIFORNIA
