giant rv | single tenant | $12,500,000 11111 …...2017/05/17 · 9 sam's club 130,196 sf /...
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11111 Florence Ave | Downey, CA
111111 FLORENCE AVE
DOWNEY, CA 90241Giant RV | Single Tenant | $12,500,000
Phil SeymourDRE #00630158
310.612.9800phil@theseymourgroup.net
www.TheSeymourGroup.net
11111 Florence Ave | Downey, CA
2DISCLAIMER
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due dili-gence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or rel-evance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental lim-itations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal ques-tions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appro-priate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW Commercial in compliance with all applicable fair housing anvd equal opportunity laws. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or with-drawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
11111 Florence Ave | Downey, CA
3EXECUTIVE SUMMARY
LEASE SYNOPSIS
SUMMARY
Improvement ($110.96/SF) 112,650 SF
Lot Size 9.72 Acres / 423,055 SF
Lot $/SF $29.55/SF
Zoning SP90-1
Use Recreation Vehicle Sales
APN 8019-033-025
Parking 580
Year Built 1970 (renovated 2017)
Structure Concrete Tilt Up
Office 3,800 SF
Balance Showroom & Service / Warehouse & Inventory
• Triple Net Lease / Under Market / 5.4% CAP Rate (Landlord responsible for roof and structure)
• Term: 15 Years with One 5-Year Option at market rate with yearly increase
• Start Date: May 17, 2017
• Expiration: May 17, 2032
• Rent: $56,250/month or $675,000/annually Rent increase annually, starting May 17, 2020 *2% Floor & 7.5% Ceiling (C.P.I. LA, Long Beach)
• Giant RV (single tenant)• Four locations
(Downey, Colton, Montclair, and Murrieta)• Over 40 acres of inventory• One of Top 50 RV Dealers in the Nation• Sales and full range of parts and service• Over 33 years in business• Privately held• Spent approximately $1,000,000
in tenant improvements
• Thirteen new HVAC units• Sprinkler system• 3 phase electrical• Carpet and tile flooring• Two sets of restrooms• Showroom has 3 roll-ups and shop has 8 bay doors
Sale subject to court confirmation.Call agent for details.
Phil SeymourDRE #00630158
310.612.9800phil@theseymourgroup.net
11111 Florence Ave | Downey, CA
4
11111 Florence Ave | Downey, CA
5EXTERIOR PHOTOS
11111 Florence Ave | Downey, CA
6
11111 Florence Ave | Downey, CA
7INTERIOR PHOTOS
11111 Florence Ave | Downey, CA
8INTERIOR PHOTOS
11111 Florence Ave | Downey, CA
9
11111 Florence Ave | Downey, CA
10INTERIOR PHOTOS
11111 Florence Ave | Downey, CA
11AERIAL PHOTOS
Subject Property
11111 Florence Ave | Downey, CA
12AERIAL PHOTOS
Subject Property
11111 Florence Ave | Downey, CA
11111 Florence Ave | Downey, CA
14
Peer Properties Summary11111 Florence Ave
17 $1.98 - 0%No. Peers NNN Market Rent/SF Availability Rate Vacancy Rate
PEER LOCATIONS
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 13
Peer Properties Summary11111 Florence Ave
17 $1.98 - 0%No. Peers NNN Market Rent/SF Availability Rate Vacancy Rate
PEER LOCATIONS
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 13
Peer Properties Summary11111 Florence Ave
17 $1.98 - 0%No. Peers NNN Market Rent/SF Availability Rate Vacancy Rate
PEER LOCATIONS
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 13
Peer Properties Summary11111 Florence Ave
17 $1.98 - 0%No. Peers NNN Market Rent/SF Availability Rate Vacancy Rate
PEER LOCATIONS
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 13
Peer Properties Summary11111 Florence Ave
17 $1.98 - 0%No. Peers NNN Market Rent/SF Availability Rate Vacancy Rate
PEER LOCATIONS
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 13
Peer Properties Summary11111 Florence Ave
17 $1.98 - 0%No. Peers NNN Market Rent/SF Availability Rate Vacancy Rate
PEER LOCATIONS
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 13
RENT COMPARABLES
RENTCOMPARABLESSUMMARY
Number of Comparables
11111 Florence Ave | Downey, CA
15
85,000 SF / Vacancy Rate 0%
Owner: Northwood Investors LLCRent/SF - $2.00 - $2.50 (Est.)
8810 Apollo Way3
154,718 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $2.00 - $2.50 (Est.)
9001 Apollo St2
12545 Imperial Hwy50,000 SF / Vacancy Rate 0%
Owner: HPCRent/SF - $2.60 - $3.10 (Est.)
LA Fitness1
13310 Telegraph Rd140,546 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $1.90 - $2.30 (Est.)
Walmart6
11729 Imperial Hwy111,830 SF / Vacancy Rate 0%
Owner: Margaret Wang Revocable D…Rent/SF - $1.90 - $2.30 (Est.)
Walmart Supercenter5
14501 Lakewood Blvd109,703 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $2.00 - $2.40 (Est.)
Wal-Mart4
5871 Firestone Blvd107,184 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $1.90 - $2.30 (Est.)
Sam's Club9
130,196 SF / Vacancy Rate 0%
Owner: Norwalk La Mirada Unified S…Rent/SF - $1.90 - $2.30 (Est.)
12324 Hoxie Ave8
57,433 SF / Vacancy Rate 0%
Owner: Northgate Real Estate, LLCRent/SF - $1.90 - $2.30 (Est.)
11660 Firestone Blvd7
Peer Property Photos11111 Florence Ave
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 16
85,000 SF / Vacancy Rate 0%
Owner: Northwood Investors LLCRent/SF - $2.00 - $2.50 (Est.)
8810 Apollo Way3
154,718 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $2.00 - $2.50 (Est.)
9001 Apollo St2
12545 Imperial Hwy50,000 SF / Vacancy Rate 0%
Owner: HPCRent/SF - $2.60 - $3.10 (Est.)
LA Fitness1
13310 Telegraph Rd140,546 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $1.90 - $2.30 (Est.)
Walmart6
11729 Imperial Hwy111,830 SF / Vacancy Rate 0%
Owner: Margaret Wang Revocable D…Rent/SF - $1.90 - $2.30 (Est.)
Walmart Supercenter5
14501 Lakewood Blvd109,703 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $2.00 - $2.40 (Est.)
Wal-Mart4
5871 Firestone Blvd107,184 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $1.90 - $2.30 (Est.)
Sam's Club9
130,196 SF / Vacancy Rate 0%
Owner: Norwalk La Mirada Unified S…Rent/SF - $1.90 - $2.30 (Est.)
12324 Hoxie Ave8
57,433 SF / Vacancy Rate 0%
Owner: Northgate Real Estate, LLCRent/SF - $1.90 - $2.30 (Est.)
11660 Firestone Blvd7
Peer Property Photos11111 Florence Ave
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 16
9100 Whittier Blvd57,078 SF / Vacancy Rate 0%
Owner: Kirk S & Laurie EvansRent/SF - $1.80 - $2.20 (Est.)
Whittier Blvd Shopping Ctr12
8600 Washington Blvd137,094 SF / Vacancy Rate 0%
Owner: Lowe’s Companies, Inc.Rent/SF - $1.80 - $2.20 (Est.)
Lowe's11
106,684 SF / Vacancy Rate 0%
Owner: Lawrence W. AndrewsRent/SF - $1.90 - $2.30 (Est.)
7121 Firestone Blvd10
139,000 SF / Vacancy Rate 0%
Owner: Costco Wholesale CorporationRent/SF - $1.40 - $1.70 (Est.)
6333 Telegraph Rd15
14873 Carmenita Rd172,515 SF / Vacancy Rate 0%
Owner: Lowe’s Companies, Inc.Rent/SF - $1.70 - $2.00 (Est.)
Lowe's14
12322 Washington Blvd147,325 SF / Vacancy Rate 0%
Owner: Jill E SapersteinRent/SF - $1.80 - $2.20 (Est.)
Whittier Gateway13
100,000 SF / Vacancy Rate 0%
Owner: Murata, MarcRent/SF - $1.00 - $1.30 (Est.)
Subject Property
11111 Florence Ave
12624 Rosecrans Ave50,276 SF / Vacancy Rate 0%
Owner: Sunbelt Rentals, Inc.Rent/SF - $1.10 - $1.40 (Est.)
Sunbelt Rentals17
7001-7015 Telegraph Rd65,300 SF / Vacancy Rate 0%
Owner: Sbicca Lido PipeRent/SF - $1.40 - $1.70 (Est.)
THE HOME DEPOT16
Peer Property Photos11111 Florence Ave
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 17
9100 Whittier Blvd57,078 SF / Vacancy Rate 0%
Owner: Kirk S & Laurie EvansRent/SF - $1.80 - $2.20 (Est.)
Whittier Blvd Shopping Ctr12
8600 Washington Blvd137,094 SF / Vacancy Rate 0%
Owner: Lowe’s Companies, Inc.Rent/SF - $1.80 - $2.20 (Est.)
Lowe's11
106,684 SF / Vacancy Rate 0%
Owner: Lawrence W. AndrewsRent/SF - $1.90 - $2.30 (Est.)
7121 Firestone Blvd10
139,000 SF / Vacancy Rate 0%
Owner: Costco Wholesale CorporationRent/SF - $1.40 - $1.70 (Est.)
6333 Telegraph Rd15
14873 Carmenita Rd172,515 SF / Vacancy Rate 0%
Owner: Lowe’s Companies, Inc.Rent/SF - $1.70 - $2.00 (Est.)
Lowe's14
12322 Washington Blvd147,325 SF / Vacancy Rate 0%
Owner: Jill E SapersteinRent/SF - $1.80 - $2.20 (Est.)
Whittier Gateway13
100,000 SF / Vacancy Rate 0%
Owner: Murata, MarcRent/SF - $1.00 - $1.30 (Est.)
Subject Property
11111 Florence Ave
12624 Rosecrans Ave50,276 SF / Vacancy Rate 0%
Owner: Sunbelt Rentals, Inc.Rent/SF - $1.10 - $1.40 (Est.)
Sunbelt Rentals17
7001-7015 Telegraph Rd65,300 SF / Vacancy Rate 0%
Owner: Sbicca Lido PipeRent/SF - $1.40 - $1.70 (Est.)
THE HOME DEPOT16
Peer Property Photos11111 Florence Ave
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 17
9100 Whittier Blvd57,078 SF / Vacancy Rate 0%
Owner: Kirk S & Laurie EvansRent/SF - $1.80 - $2.20 (Est.)
Whittier Blvd Shopping Ctr12
8600 Washington Blvd137,094 SF / Vacancy Rate 0%
Owner: Lowe’s Companies, Inc.Rent/SF - $1.80 - $2.20 (Est.)
Lowe's11
106,684 SF / Vacancy Rate 0%
Owner: Lawrence W. AndrewsRent/SF - $1.90 - $2.30 (Est.)
7121 Firestone Blvd10
139,000 SF / Vacancy Rate 0%
Owner: Costco Wholesale CorporationRent/SF - $1.40 - $1.70 (Est.)
6333 Telegraph Rd15
14873 Carmenita Rd172,515 SF / Vacancy Rate 0%
Owner: Lowe’s Companies, Inc.Rent/SF - $1.70 - $2.00 (Est.)
Lowe's14
12322 Washington Blvd147,325 SF / Vacancy Rate 0%
Owner: Jill E SapersteinRent/SF - $1.80 - $2.20 (Est.)
Whittier Gateway13
100,000 SF / Vacancy Rate 0%
Owner: Murata, MarcRent/SF - $1.00 - $1.30 (Est.)
Subject Property
11111 Florence Ave
12624 Rosecrans Ave50,276 SF / Vacancy Rate 0%
Owner: Sunbelt Rentals, Inc.Rent/SF - $1.10 - $1.40 (Est.)
Sunbelt Rentals17
7001-7015 Telegraph Rd65,300 SF / Vacancy Rate 0%
Owner: Sbicca Lido PipeRent/SF - $1.40 - $1.70 (Est.)
THE HOME DEPOT16
Peer Property Photos11111 Florence Ave
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 17
85,000 SF / Vacancy Rate 0%
Owner: Northwood Investors LLCRent/SF - $2.00 - $2.50 (Est.)
8810 Apollo Way3
154,718 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $2.00 - $2.50 (Est.)
9001 Apollo St2
12545 Imperial Hwy50,000 SF / Vacancy Rate 0%
Owner: HPCRent/SF - $2.60 - $3.10 (Est.)
LA Fitness1
13310 Telegraph Rd140,546 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $1.90 - $2.30 (Est.)
Walmart6
11729 Imperial Hwy111,830 SF / Vacancy Rate 0%
Owner: Margaret Wang Revocable D…Rent/SF - $1.90 - $2.30 (Est.)
Walmart Supercenter5
14501 Lakewood Blvd109,703 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $2.00 - $2.40 (Est.)
Wal-Mart4
5871 Firestone Blvd107,184 SF / Vacancy Rate 0%
Owner: Walmart, Inc.Rent/SF - $1.90 - $2.30 (Est.)
Sam's Club9
130,196 SF / Vacancy Rate 0%
Owner: Norwalk La Mirada Unified S…Rent/SF - $1.90 - $2.30 (Est.)
12324 Hoxie Ave8
57,433 SF / Vacancy Rate 0%
Owner: Northgate Real Estate, LLCRent/SF - $1.90 - $2.30 (Est.)
11660 Firestone Blvd7
Peer Property Photos11111 Florence Ave
5/1/2020Copyrighted report licensed to KW Commercial - 1612
Page 16
RENT COMPARABLES
112,650 SF$0.50
David Weinberger818.970.0915
david@theseymourgroup.net DRE #01349349
Phil Seymour310.612.9800
phil@theseymourgroup.netDRE #00630158
www.TheSeymourGroup.net
DRE #01428774
11111 FLORENCE AVEDOWNEY, CA 90241
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