18,105 sq. ft. owner/user, investment opportunity

±18,105 Sq. Ft. Owner/User, Investment Opportunity

Property Summary

Addresses 31 Journey, Aliso Viejo, CA 92656

Total Square Feet ±18,105 Sq. Ft.

Percent Leased 49%

Availability9,150 SF on the Second Floor, representing 51% of the asset

Year Built 1991

Floors Two (2)

Land Area 1.19 acres

Parking Stalls/Ratio 4:1,000

Investment Summary

Asking Price $5,884,125 ($325 PSF)

1st Floor Tenant In-Place NOI $166,020

Offering SummaryInvestment OverviewCushman & Wakefield of California, Inc., as exclusive advisor, is pleased to offer the exceptional opportunity to acquire 31 JOURNEY (the “Property”), an ±18,105 sq. ft, freestanding, two-story high-image office building located in Aliso Viejo, California.

Built in 1991 and renovated in 2015, the property is 51% available, offering an Owner/User the ability to acquire a cash flowing assetin a dynamic millennial-focused Southern California location with strong market fundamentals, amenities, and housing supply.

2 | Cushman & Wakefield

High Image, Well Maintained Office Asset31 Journey provides its occupants with a high corporate image due to its glass-clad façade, separate entryways and creative office interior. The Property has benefited from the recent infusion of substantial capital, boasting a new roof, HVAC, exterior façade and entryway, and state-of-the-art creative office tenant improvements.

The Post-COVID Future of OfficeThe Property benefits from highly demanded COVID-friendly features, providing a controlled private office environment and ensuring peace of mind for any user and their employees. Featuring only two stories, each with private access, restrooms, and separate HVAC, the Property is well positioned for the future of office that is increasingly demanded by corporations exiting traditional large executive multi-tenant buildings.

Investment Highlights

31 Journey | Alison Viejo, CA | 3

Epicuren Discovery, LLC 8,955 RSF ; 49% Exp. 1/27; 5.5 Years

Available to User 9,150 SF, 51% available to User


An owner-user can occupy the entire 2nd floor, up to ±9,150 Sq. Ft., (51%), accessed via a private exterior entryway.

The first floor provides an owner-user stable cashflow, leased for over five years as a headquarter location for Epicuren Discovery, an established skincare company. Recently renovated into creative office, the suite includes open ceilings, polished concrete floors, a large kitchen, and glass-clad conference rooms that mitigates any possible lease-up time and capital outlay potentially required in the future.

The $166,020 of In-Place NOI obtained from Epicuren Discovery would cover an owner-user’s SBA 504 monthly mortgage payment.

Ideal Owner-User Opportunity


South Orange County has quickly become the premier location within Orange County for younger individuals and corporations alike. Catalyzed by the rise of the Irvine Spectrum, the county’s premier live-work-play environment, access to world class beaches, and most of the County’s new master planned residential and retail developments, South Orange County has become a demanded location requirement for any competitive company in the region.

Part of Aliso Viejo’s Pacific Parks’ Amenity Rich EnvironmentThe Property is situated in Aliso Viejo’s master planned Pacific Park, offering an irreplaceable coastal location off SR-73 and with quick access to I-5, I-405, and SR-133. Pacific Park’s plan incorporates an all-encompassing live-work-play environment with over 5,500 resort style apartment units, large shopping centers, and multiple single-family residential communities.

Strong South Orange County Market FundamentalsThe property is part of the 20.7 million square foot South County office submarket which continues to experience extraordinary demand and has become the new center of Orange County regarding both office and housing dynamics. The Submarket is host to Orange County’s tech ecosystem, led by both long established companies and start-ups looking to attract within the areas high-skilled talent pool. South Orange County is the driving force behind Orange County’s ranking as the 15th fastest growth market for tech job growth in the U.S. and is expected to be the primary beneficiary of the growing life science and medical industries.

Premier OC Location

Journey

Journey

Aliso Viejo Pkwy

Aliso Viejo Pkwy

Aliso V

iejo

Pkwy

Aliso V

iejo

Pkwy

Jour

ney

Jour

ney

Pacific Park Dr.Pacific Park Dr.

City Lights at Town Center Apartments


Journey

Journey

Alis

o Cr

eek

Rd.

Alis

o Cr

eek

Rd.

Aliso Creek Rd.

Aliso Creek Rd.

Aliso Creek Rd.

Aliso Creek Rd.



73

73

Aliso Viejo’s

ALISO VIEJO’S TOWN CENTER

Over 50 dining, shops, and entertainment

businesses

2,021 resort style apartment, condo, and

townhome units complete with amenities, public parks, and hiking trails

Aliso Viejo Community ParkAliso Viejo Community Park

Woodfield ParkWoodfield Park

Foxborough Street Elementary SchoolFoxborough Street Elementary School

Aliso Viejo High SchoolAliso Viejo High School


LocationAddress: 31 Journey, Aliso Viejo, CA, 92656

Office Market: Orange County

Industrial Submarket: South Orange County

Assessor’s Parcel No.: 632-134-05

Access:There is one point of ingress/egress off of Journey.

Building SizeTotal Rentable Area: ±18,105 Sq. Ft.

Land Size: 1.20 Acres / 52,336 Sq. Ft.

Coverage: 34.6%

Number of Buildings: One

Number of Tenants:Four; Three of which have leases expiring in the near-term.

Occupancy:100%; however, the entire 2nd floor (±9,150 Sq. Ft., 51%) can be delivered vacant.

Property Description


Building Features

Construction Type: Concrete Tilt-Up

Roof:Replaced in 2020 with an eight-year warranty

HVAC:Recently replaced rooftop package units

Sprinklers: Monitored Sprinkler System

Utilities:

y Electricity: Southern California Edison

y Water: Moulton Niguel Water District

y Gas: The Gas Company

y Trash: CR&R Waste Services

Police Dept.: Orange County Sheriff

Fire Dept.: Orange County Fire Authority

Building Construction

Construction Type: Concrete Tilt-Up

Roof:Replaced in 2020 with an eight-year warranty

HVAC:Recently replaced rooftop package units

Sprinklers: Monitored Sprinkler System


Site Plan

JOU

RN

EY

ALI

SO

CR

EE

K R

OA

D

EXISTING BUILDING

1,300 Sq. Ft.

16,735 Sq. Ft.


Floor Plans First Floor | ±8,955 RSF

Epicuren Discovery, LLC: ±8,955 Sq. Ft. Leased through January 31, 2027


Floor Plans Second Floor | ±9,151 RSF

Nicholas Beimfohr: ±180 Sq. Ft. | Exp: 1/31/22

Chronic Tacos: ±3,977 Sq, Ft. | Exp: 11/30/21

Lee Law Firm: ±4,994 Sq. Ft. | Exp: 10/31/21

2nd Floor tenants would be open to downsizing and renewing into a total of approximately 4,575 RSF, leaving a potential investor/partial-user a minimum of 4,576 RSF.


42 Miles of World Renowned Beaches

15th in tech job

growth in U.S.

SKIING

LOS ANGELES

LAS VEGAS

PALM SPRINGS

ORANGE COUNTY

SAN DIEGOBEACHES

Highest average SAT scores in SoCal and 2nd

highest in the state

Diverse Economic Drivers

� High Tech / Gaming

� Life Sciences

� Action Sports

� Healthcare

� Tourism

� Business & Professional Services

� Green Economy

� Quick Serve Restaurants

� Automotive

Huntington Beach, Newport Beach, Crystal Cove, Laguna Beach,

Dana Point and San Clemente

Home to 25 Accredited Universities:1. UC, Irvine

2. Cal State Fullerton

3. Chapman University

40.3% of all degrees

are STEM-related

R A N K E D

6th most populous county in the U.S. (3.2M People)

OR

AN

GE

COASTAL LIFESTYLE

LA: 9.50%

SF: 8.50%

OC: 7.75%

S A L E S TA X

Orange County’s Story

ENTERTAINMENT NEW HOUSING


Culver City

HawthorneManahttan Beach

Moorpark

Redondo Beach

Santa MonicaMalibu

Beverly Hills

WestHollywood

Buena Park

CypressCarson

ChinoChino Hills

ClaremontCovina

Lake Forest

FountainValley

Glendora

HuntingtonPark

La Verne

Laguna Hills

Laguna NiguelLaguna Beach

Lakewood

Lynwood

Mission Viejo

Montclair

Montebello

Monterey Park

Newport Beach

Rancho SantaMargarita

Rosemead

San Gabriel

Altadena

ArcadiaAzusa

BaldwinPark

Tustin

Bellflower

Upland

Westminster

Whittier

Yorba Linda

Aliso Viejo

Eastvale

Jurupa Valley

Burbank

Santa Clarita

Simi Valley

Thousand Oaks

Torrance

Corona

Costa Mesa

El Monte

Glendale

Downey

Fullerton

Garden Grove

HuntingtonBeach

Irvine

Norwalk

Ontario

Orange

Pasadena

Pomona

RanchoCucamonga

West Covina

LONG BEACH

SANTA ANA

ANAHEIM

LOS ANGELES

N5 MILES

5

10

10

10

605

710

15

15

15

105

1105

5

5

405

405

405

Culver City


Moorpark

Redondo Beach

Santa MonicaMalibu

Beverly Hills

WestHollywood

Buena Park

CypressCarson

ChinoChino Hills

ClaremontCovina

Lake Forest

FountainValley

Glendora

HuntingtonPark

La Verne

Laguna Hills


Lakewood

Lynwood

Mission Viejo

Montclair

Montebello

Monterey Park

Newport Beach


Rosemead

San Gabriel

Altadena

ArcadiaAzusa

BaldwinPark

Tustin

Bellflower

Upland

Westminster

Whittier

Yorba Linda

Aliso Viejo

Eastvale

Jurupa Valley

Burbank

Santa Clarita

Simi Valley

Thousand Oaks

Torrance

Corona

Costa Mesa

El Monte

Glendale

Downey

Fullerton

Garden Grove

HuntingtonBeach

Irvine

Norwalk

Ontario

Orange

Pasadena

Pomona

RanchoCucamonga

West Covina

LONG BEACH

SANTA ANA

ANAHEIM

LOS ANGELES

N5 MILES

5

10

10

10

605

710

15

15

15

105

1105

5

5

405

405

405

Culver City


Moorpark

Redondo Beach

Santa MonicaMalibu

Beverly Hills

WestHollywood

Buena Park

CypressCarson

ChinoChino Hills

ClaremontCovina

Lake Forest

FountainValley

Glendora

HuntingtonPark

La Verne

Laguna Hills


Lakewood

Lynwood

Mission Viejo

Montclair

Montebello

Monterey Park

Newport Beach


Rosemead

San Gabriel

Altadena

ArcadiaAzusa

BaldwinPark

Tustin

Bellflower

Upland

Westminster

Whittier

Yorba Linda

Aliso Viejo

Eastvale

Jurupa Valley

Burbank

Santa Clarita

Simi Valley

Thousand Oaks

Torrance

Corona

Costa Mesa

El Monte

Glendale

Downey

Fullerton

Garden Grove

HuntingtonBeach

Irvine

Norwalk

Ontario

Orange

Pasadena

Pomona

RanchoCucamonga

West Covina

LONG BEACH

SANTA ANA

ANAHEIM

LOS ANGELES

N5 MILES

5

10

10

10

605

710

15

15

15

105

1105

5

5

405

405

405


Aliso Viejo y Orange County’s newest city, incorporated in 2001 and 4 miles from

Laguna Beach

y A Master-planned development containing a balance between residential neighborhoods, parks & recreation, schools, and commercial uses

y 2019 Population of 51,000 with 1,600 residential units built since 2000

y Named one of the Top 25 Towns to Live Well by Forbes

y 3rd safest city in the United States (source: SERVIZ)

y Home to the headquarters of several large corporations

y Recognized for hosting fast-growing, entrepreneurial industries such as medical device, technology, software, biotech, pharmaceutical, and gaming.

y 21 parks withing 6 square miles and every resident lives within 3 miles of the Town Center

y Home to 18-hole championship golf course, designed by golfer Jack Nicklaus

Aliso Viejo Major Office Occupiers

Name Industry

Pacific Life Life Insurance

MicroVention Health Care / Life Science

Glaukos Labs Health Care / Life Science

Metagenics Health Care / Life Science

Ambry Genetics Health Care

Covenant Care Ca. Health Care / Skilled Nursing

Quest Software IT Servives

UST Global IT Services

Flour Engineering

Microsemi Semiconductors

US Web Telecommunication

QLogic Computer Networking

Apex Parks Group Technology

Acetel Technology

New Home Co Home Builder


Rent RollSize of Premises Lease Dates Annual Rent ($/SF) Monthly Rent ($/SF) Current

Tenant Name Vacant Leased% of

Portfolio Begin End Term$/SF/Year

Adjust Date $/SF/Mo. Rent/Mo. % ∆ Rent/$Yr

Epicuren Discovery, LLC 8,955 49.46% 2/1/2020 1/31/2027 84 Mos. $18.00 –- $1.50 $13,433 –- $166,026$18.54 06/01/21 $1.55 $13,835 3.0%$19.10 06/01/22 $1.59 $14,251 3.0%$19.67 06/01/23 $1.64 $14,678 3.0%$20.26 06/01/24 $1.69 $15,118 3.0%$20.87 06/01/25 $1.74 $15,572 3.0%$21.49 06/01/26 $1.79 $16,039 3.0%

Comments: Reimbursements: NNN. Security Deposit: $16,500. Parking: 31 Stalls

Lee Hernandez Attorney 4,994 27.58% 8/1/2013 10/31/2021 99 Mos. $26.23 –- $2.19 $10,914 –- $130,968

Comments: Reimbursements: BY 2013. Security Deposit: $9,274. Parking: 11 Stalls

Chronic Tacos 3,977 21.97% 3/1/2014 11/30/2021 93 Mos. $26.40 –- $2.20 $8,749 –- $104,988

Comments: Reimbursements: BY 2014. Security Deposit: $8,749.40. Parking: 11 Stalls

Nicholas Beimfohr 180 0.99% 2/1/2019 1/31/2022 36 Mos. $96.67 –- $8.06 $1,450 –- $17,400

Comments:

Vacant SF Leased SF Occupancy 100.0% Annual Rent $419,3820 18,106 Vacancy 0.0% Annual Rent/SF $23.99

Total NRA (SF): 18,106 Total 100.0% Monthly Rent/SF $2.00


NICO NAPOLITANO +1 949 955 7642 [email protected] Lic. #01962860

JEFFREY COLE +1 949 955 7652 [email protected] Lic. #00833681

JASON PALDA +1 949 836 1555 [email protected] Lic. #00896764

ED HERNANDEZ +1 949 930 4380 [email protected] Lic. #01048813

SAN DIEGO, CA Mark Avilla Peter Curry Brooks Campbell Duncan Dodd Kevin Cuff

ORANGE COUNTY, CA Nico Napolitano Randy Ellison

INLAND EMPIRE, CA Nicole Brosious Emily Brun

PHOENIX, AZ Eric Wichterman Michael Coover Will Strong Greer Oliver Chris Hollenbeck

DENVER, CO Jon Hendrickson Mitch Veremeychik

LAS VEGAS, NV Marlene Fujita Charles Moore Hunter Bradshaw

LOS ANGELES, CA Brandon Burns Steve Algermissen

SAN JOSE, CA Jon DeCoite

AUSTIN, TX/ SAN ANTONIO, TX Carrie Caesar

HAWAII Ryan Sakaguchi

For more information, please contact one of the following individuals:

CUSHMAN & WAKEFIELD OF CALIFORNIA 18111 Von Karman Ave., | Suite 1000 | Irvine, CA 92612

INVESTMENT ADVISORS

PRIVATE CAPITAL GROUP | ONE TEAM | TEN MARKETS

View Site Specific COVID-19 Prevention Plan

©2021 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representation, express or implied, is made as to the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or future property performance.

18,105 sq. ft. owner/user, investment opportunity

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