bressi ranch development opportunity€¦ · carlsbad state beach. carlsbad’s unique gifts have...

JLL | 1

Bressi RanchDevelopment Opportunity

Offering MemorandumCarlsbad, San Diego

2018

2 | Bressi Ranch – San Diego, CA

The Offering

SUBJECT

Optum RX

BREG

Acushnet CoPacific Ridge School

The Square at Bressi Ranch

Holiday Inn

Lowe’sViasat Inc.

Staybridge Suites

McClellan-PalomarAirport

Pacific Ocean

Bressi RanchVillage Center

Glanbia Nutritionals

Palo

mar

Airp

ort R

d.El Fuerte St.

Gateway Rd.

JLL | 3

Bressi Ranch | San Diego, CA

The Offering

INVESTMENT HIGHLIGHTS

JLL has been retained as the Exclusive Agent for Seller to extend to qualified principals the opportunity to acquire a fee simple interest in two vacant parcels of land totaling 5.31 acres in the Bressi Ranch area of Carlsbad, California.

The Property is strategically located at the intersection of Palomar Airport Road and Gateway Road, the heart of the business community in Carlsbad, a dynamic and continually growing market that is home to a broad range of business and professional service companies including Life Sciences, Telecommunications, Action Sports, Manufacturing, and Hospitality and Leisure. Carlsbad embodies the California coastal lifestyle, where live/work/play mantra brings creative, highly motivated and educated workforce together to create a dynamic and growing economy.

Master Planned Community Bressi Ranch is a master planned community in Carlsbad. The area contains over 600 homes in eight neighborhoods, a 135-acre business park, two retail centers totaling over 211,000 sf, 187 acres of open space and eight community parks.

Flexible Zoning The property is currently zoned PC or Planned Community and is governed by the Bressi Ranch Community Plan. Per the Carlsbad Municipal Code this zoning designation will afford the owner the opportunity. The Seller has engaged the City of Carlsbad and the City has indicated its willingness to consider multiple uses on the site.

In Good Company Carlsbad is home to many global and regional companies including: ViaSat, Thermo Fisher, Callaway Golf, Ionis Pharmaceuticals, Walmart Ecommerce, Abbott Labs, Prana, Reef, GoPro and TaylorMade Golf.

High Barrier to Entry One of the last development parcels available in Bressi Ranch limiting new supply and offering a competitive advantage in a supply constrained environment.

Submarket Strength Low vacancy rates and rising rents across all product types in Carlsbad. Industrial vacancy rate is 7.1%, Office vacancy rate has dropped to 17.4% and Retail vacancy is 2.5%. The site has also been extensively evaluated to accommodate Senior Housing.


The Property

SUBJECT

The Square at Bressi Ranch

Bressi Ranch Village Center

Palomar Airport Rd.

Gate

way

Rd.

El F

uert

e St

.

JLL | 5


The PropertyLocation SEC Palomar Airport Road & Gateway Road, Carlsbad, CA 92009

APN 213-263-19 213-263-20

Total SF 231,303 SF

Electricity SDG+E

Water & Sewer Carlsbad municipal water district

Zoning Planned community (PC) Planned industrial (PM)

Community Plan Bressi Ranch community plan

FrontageNorth: Approx. 300 FT along Palomar Airport Road South: Approx. 430 FT along Gateway Road East: Approx. 520 FT along Gateway Road

Detail

1. The P-C zone is applied to large tracts of land to ensure their comprehensive and orderly planning and development. Permitted uses and development standards in the P-C zone are established by master plan.

2. Planned industrial allows the location of business and light industries engaged primarily in research and/or testing, compatible light manufacturing, and business and professional offices; allow certain commercial/retail uses which cater to, support, or are accessory to the uses allowed in this zone; and allow flexibility for other select uses (i.e., athletic clubs/gyms, churches, daycare centers, recreation facilities, etc.) when found to be compatible with the P-M zone through the issuance of a conditional use permit.

LAND SPECIFICATIONS


Site plan - Industrial

The Property

JLL | 7


Site plan - Corporate Headquarters


Site plan - Mixed-Use

The Property

JLL | 9


Site plan - Hotel

This conceptual design is based upon a preliminary review ofentitlement requirements and on unverified and possiblyincomplete site and/or building information, and is intendedmerely to assist in exploring how the project might be developed.

NORTH

SHEET

04.04.2016

SDG15-0053-00Bressi Ranch

scheme: 10a

2760 Gateway Rd, Carlsbad, CA 1

0 15 30 60 150

1" =30'

VICINITY MAP : (N.T.S.)

SITE


Site plan - Retail

RETAIL 1FOOTPRINT:

28,430 SF

RETAIL 2FOOTPRINT:

14,600 SF

140'

100'

170'

163'

187'

30'

60'60'

152'

RET

AIL

3FO

OTP

RIN

T: 1

0,19

6 SF

27'

25'27

'

24'27'

27'

15'

15'

52'

PALOMAR AIRPORT ROAD

GATEW

AY RO

AD

DET

ENTI

ON

BAS

IN

DETENTION BASIN

21'

This conceptual design is based upon a preliminary review ofentitlement requirements and on unverified and possiblyincomplete site and/or building information, and is intendedmerely to assist in exploring how the project might be developed.

NORTH

SHEET

10.03.2015

SDG15-0000-00Bressi Ranch

scheme: 4

2760 Gateway Rd, Carlsbad, CA 1

0 15 30 60 150

1" =30'

VICINITY MAP : (N.T.S.)

SITE

The Property

JLL | 11


Site plan - Senior Housing

28' - 0"

28' - 0"28' - 0"

28' - 0"

28 ' - 0"

LANDSCAPE SET BACK50' - 7"

35' - 0"

LAND

SCA

PE SET BACK

35' - 0"

LANSCAPE SET BACK

35' - 0"

5' - 0"

COURTYARD

3-STORYASSITED LIVING

PA

LOM

AR

AIP

OR

T RD

.

BREWERY

GA

TEW

AY

R

OA

D

OFFICE PARK

DIRECTIONAL SIGNAGE

COURTYARD

GENERATORTRASH ENCLOSURE

LAN

DSC

APE SET BAC

K5' - 0"

124' - 9"

97' - 3"

111' - 6"

MONUMENT SIGN

DROP OFF

67' - 6"

A005.14.2017SOUTH BAY LIMITED CARLSBAD, CA

SITE PLAN

0' 20' 40' 80' 120'

N

SITE AREA

SITE / BUILDING DATA

5.33 AC

BUILDING AREAFIRST FLOOR PLAN = 58,820 SF

SECOND FLOOR PLAN = 59,188 SF

THIRD FLOOR PLAN = 56,405 SF

TOTAL = 174,413 SF

FAR173,748 / 232,175 = 0.748

LOT COVERAGE58,600/232,175 = 0.252

BUILDING HEIGHT3-STORIES = 43'-0"

NUMBER OF ROOMSSTUDIOS = 17 (375-405 SF)

MC STUDIOS = 43 (310-375 SF)

1 BEDROOM = 68 (610-650 SF)

1 BEDROOM DELUXE = 28 (740-800 SF)

2 BEDROOM = 19 (940-960 SF)

TOTAL = 175 UNITS

PARKING PROVIDED175

CONSTRUCTION TYPETYPE 5

1HRFULLY SPRINKLERED

PROPOSED SITE PLAN

Bressi Ranch Development Site


The Location

JLL | 13

The LocationCarlsbad, San Diego The City of Carlsbad is a scenic coastal community of 110,000 residents located approximately 35 miles north of Downtown San Diego and 54 miles south of John Wayne Airport in Orange County. Carlsbad is in the heart of the North County region of San Diego and encompasses over 42 square miles with 7 miles of pristine California beaches and coastal lagoons. San Diego County is the second largest County in California with over 3.7 million residents and Carlsbad is the 5th largest city based on population in San Diego County. With its strategic location, Carlsbad serves as the gateway between the major employment centers of San Diego, Orange County and the greater Los Angeles area.

Carlsbad epitomizes the southern California lifestyle. An active and affluent community, it is graced with a great climate, beautiful beaches and lagoons, and abundant natural open space. Carlsbad’s commitment to preserving its heritage and culture is evidenced by it setting aside nearly 40% of its city for open space. It boasts 45 miles of hiking trails, five 18-hole golf courses and 25 parks, including beach side camping at Carlsbad State Beach.

Carlsbad’s unique gifts have created a marriage of its charming village atmosphere to create the ideal California experience where its residents live, work and play.

Many companies have chosen to make Carlsbad their corporate headquarters. Carlsbad has a diversified economy driven by life science, action sports, information and communication as well as hospitality and leisure.

$153,000 Average household income within 1 mile

3.5%San Diego County unemployment rate

$800,000Median home prices (2018)

18%Population growth to rise by 2020

32Median age in Carlsbad

250,000People within a 5 mile radius



Carlsbad overview

JLL | 15

Carlsbad OverviewLIFE SCIENCELife science is a dominate force in Carlsbad. This industry includes biotech, medical device, diagnostic and technology companies and institutes. Nearly 24% of all Carlsbad jobs are in the Life Science sector. Notable employers include Thermo Fisher, Genoptix, OptumRx and Isis Pharmaceuticals.

ACTION SPORTSCarlsbad is a leader in action sports manufacturing with more than half of all San Diego County action sports manufacturers based in this submarket, employing nearly 2,800 people. Notable employers include Callaway Golf, TaylorMade/Adidas, Acushnet/Titleist, Cobra Golf, Reef, Prana and Spy Optics.

INFORMATION & COMMUNICATION13% of all Information and Communications jobs in San Diego County are located in Carlsbad. The top three largest employers within this industry in Carlsbad are ViaSat, NTN Buzztime and MaxLinear.

HOSPITALITY & LEISURECarlsbad attracts over 2.7 million visitors per year and the Hospitality and Leisure sector employs more than 11,000. Carlsbad is home to world-class resorts including Omni La Costa Resort & Spa, Park Hyatt Aviara Resort and Golf Club, Sheraton Carlsbad Resort and Spa and the Hilton Oceanfront Resort & Spa. Two of San Diego County’s top five golf courses, La Costa and Aviara, are located in Carlsbad and both have hosted PGA and LPGA tournaments.

In addition to its top-notch golf courses and beaches, major tourist attractions in Carlsbad include LEGOLAND, the Flower Fields and destination retail. Carlsbad has many shopping options including quaint shops in the village, Rouse Properties’ The Shoppes at Carlsbad regional mall, Simon’s Carlsbad Premium Outlets and the Forum lifestyle shopping center.



Contact information

8910 University Center Lane | San Diego, CA 92122

www.us.jll.com/capitalmarkets

Copyright © Jones Lang LaSalle IP, Inc. 2018This publication is the sole property of Jones Lang LaSalle and must not be copied, reproduced or transmitted in any form or by any means, either in whole or in part, without the prior written consent of Jones Lang LaSalle. The information contained in this publication has been obtained from sources generally regarded to be reliable. However, no representation is made, or warranty given, in respect of the accuracy of this information. We would like to be informed of any inaccuracies so that we may correct them. Jones Lang LaSalle does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this publication. Jones Lang LaSalle Americas, Inc., California license # 01223413. Jones Lang LaSalle Americas, Inc. License # 19262.

Bob PrendergastMANAGING DIRECTOR+1 858 410 [email protected] RE License #00883530

Lynn LaChapelleMANAGING DIRECTOR+1 858 410 [email protected] RE License #00898286

Sach KirpalaniVICE PRESIDENT+1 858 410 [email protected] RE License #01799500

Chris CaseyMANAGING DIRECTOR+1 949 885 [email protected] RE License #01073964

Reid McGlameryEXECUTIVE VICE PRESIDENT+1 213 239 [email protected] RE License #01375588

EXCLUSIVE ADVISORS DEBT AND FINANCE

bressi ranch development opportunity€¦ · carlsbad state beach. carlsbad’s unique gifts have...

Documents