for sale 1434-1436 w. glenoaks blvd. 100% leased

1434-1436 W. GLENOAKS BLVD.

GLENDALE, CA 91201

FOR SALE100% LEASED SIGNALIZED CORNER RETAIL CENTER

GUILLERMO OLAIZExecutive Vice [email protected] Lic. No. 01778986

JOHN S. ARCHIBALDExecutive Vice [email protected] Lic. No. 00996775

225 S. LAKE AVE., SUITE 1170 | PASADENA, CA 91101626.564.4800 | www.naicapital.com

NO WARRANTY, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN. THIS INFORMATION IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND IS SUBJECT TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS. COOPERATING BROKERS, BUYERS, TENANTS AND OTHER PARTIES WHO RECEIVE THIS DOCUMENT SHOULD NOT RELY ON IT, BUT SHOULD USE IT AS A STARTING POINT OF ANALYSIS, AND SHOULD INDEPENDENTLY CONFIRM THE ACCURACY OF THE INFORMATION CONTAINED HEREIN THROUGH A DUE DILIGENCE REVIEW OF THE BOOKS, RECORDS, FILES AND DOCUMENTS THAT CONSTITUTE RELIABLE SOURCES OF THE INFORMATION DESCRIBED HEREIN. LOGOS ARE FOR IDENTIFICATION PURPOSES ONLY AND MAY BE TRADEMARKS OF THEIR RESPECTIVE COMPANIES. NAI CAPITAL, INC. CAL DRE LIC. #02130474

TABLE OF CONTENTS

OFFERING SUMMARY

FINANCIAL ANALYSIS

REGIONAL MAP

REGIONAL MAP

TRAFFIC COUNTS

AERIAL VIEW

AERIAL VIEW

METROLINK

MARKET OVERVIEW

MARKET OVERVIEW

HISTROCIAL LANDMARK

DEMOGRAPHICS

DEMOGRAPHICS

CONFIDENTIALITY AGREEMENT

3

4

5

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16

LOCATION:

PROPERTY DESCRIPTION:

LEGAL DESCRIPTION:

PARKING:

Building Occupancy:

YEAR BUILT:

Lot Size:

Traffic Counts:

Purchase Price:

Number of Units:

A multi-tenant retail building comprising ofapproximately 3,120 square feet of Gross LeasableArea on approximately 7,043 SF of land.

Assessor’s Parcel Number: 5623-031-029.

8 free Surface Spaces are available;Ratio of 2.77/1,000 SF

100%.

1975.

Three (3) Units.

7,043 square feet of land.

Approximately 50,704 vehicles per day.

$2,449,000

1434-1436 W GLENOAKS BLVD, GLENDALE

OFFERING SUMMARY GLENDALE, CA 912011434-1436 W. GLENOAKS BLVD.

OFFERING MEMORANDUM | P.3

FINANCIAL ANALYSIS 1434-1436 W. GLENOAKS BLVD.GLENDALE, CA 91201

PRICING SUMMARY SCHEDULED RENT SUMMARY

INCOME SUMMARY

INCOME SUMMARY

DO NOT DISTURB THE TENANTS

CONTACT LISTING BROKERS FOR A RENT ROLL

BUILDING DATA/FINANCIAL INDICATORS

Price:

NOI for Year Ending 6/30/2022

NOI for Year Ending 6/30/2023

$2,449,000

$65,469

$124,787

Number of Units

Year Built

Building Size

Lot Size

Current Cap Rate:

Proforma Cap Rate as of 7/1/2022):

Occupancy:Water

Insurance

**Real Estate Property Tax:

Parking Lot Maintenance:

Total Expenses

Net Operating Income

Fiscal Year

$790

$3,224

$30,000

$2,400

$36,414

$65,469

Proforma

$814

$3,321

$30,600

$2,472

$37,207

$124,787

Scheduled Rental Income Expense

Reimbursement Revenue Effective

Gross Income (EGI)

Building SF

3,120 SF

Current Income

$2.59 MG

Year Endind 6/30/22

$89,784

$12,158

$101,942

Proforma Income

$124,788

$37,207

$161,995

Proforma Rent

$3.30 NNN

3

1975

3,120 Sq Ft

7,043 Sq Ft

2.49%

5.04%

100%

* Proforma Income assumes Option Renewals at Fair Market Value + NNN as of July 1, 2022 as written in all 3 Leases.

** Property Tax estimate is modeled to be reassessed at the Purchase Price, could vary.



1434-1436 W. GLENOAKS BLVD.GLENDALE, CA 91201

REGIONALMAP

* Proforma Income assumes Option Renewals at Fair Market Value + NNN as of July 1, 2022 as written in all 3 Leases.

** Property Tax estimate is modeled to be reassessed at the Purchase Price, could vary.


4.7 MILES FROMGRIFFITH PARK

2.9 MILES FROMTHE AMERICANA

4.2 MILES FROMLOS FELIZ

17 MILES FROMDOWNTOWN L.A.

2.8 MILES FROMGLENDALE GALLERIA

7.3 MILES FROMHOLLYWOOD SIGN

8.6 MILES FROMHOLLYWOOD

6.1 MILES FROMUNIVERSAL STUDIOS

1.5 MILES FROMBRAND PARK & LIBRARY

2.0 MILES FROMLA EQUESTRIAN CENTER

5.0 MILES FROM HOLLYWOODHILL FOREST LAWN

4.2MILES FROM WARNER BROS. STUDIOS

2.8 MILES FROM WALT DISNEY STUDIOS


REGIONAL MAP


6.1 MILES FROMUNIVERSAL STUDIOS

1.5 MILES FROMBRAND PARK & LIBRARY

2.0 MILES FROMLA EQUESTRIAN CENTER

4.2MILES FROM WARNER BROS. STUDIOS

2.8 MILES FROM WALT DISNEY STUDIOS

42,130

42,130

GLENOAKS BLVD

1436 W GLENOAKS BLVD.

20,771

SONORA

SAN FERNANDO

GRANDVIEW

42,130

GLENOAKS BLVD

8,574

6,563

SONORA

13,725WESTERN GLENWOOD


TRAFFIC COUNTS


PARK TOWERS

DOWNTOWN LA

brand blvd of cars

LOS FELIZ

GLENOAKS BLVD

SONORA

SAN FERNANDO

GLENWOODGLENOAKS BLVD


GRANDVIEW

GROVER AVE.

DAVIS AVE.

DAVIS AVE.

L.A. RIVER

PELANCONI PARK

AERIAL VIEW

5.5 MILES FROMBURBANK AIRPORT



GLENOAKS BLVD

SONORA

WESTERN

5TH ST.

ALLEN

SAN FERNANDO

GLENOAKS BLVD THOMAS JEFFERSON ELEMENTARY SCHOOL

CITY OF BURBANK

BRAND LIBRARY & ART CENTER

LA TUNA CANYON

DOWNTOWN BURBANK

EMPIRECENTER

BURBANKTOWN CENTER

AERIAL VIEW


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Santa Monica

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– East

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Perris – South

Perris – Downtown

Moreno Valley/March Field

Riverside – Hunter Park/UCR

Riverside – Downtown

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Anaheim Resort TransitAVTABaldwin Park ShuttleBeaumont TransitBurbank Airport ShuttleBurbank BusCommerce Municipal BusCorona CruiserEl Monte Commuter ShuttleFoothill TransitGlendale BeelineGold Coast TransitiShuttleLA County DPW ShuttleLA Metro BusLA Metro RailLADOTMontebello Bus LinesMonterey Park Spirit BusNCTD - Sprinter/BreezeNorwalk TransitOCTAOmnitransRTA - Riverside Transit AgencySan Clemente TrolleySanta Clarita TransitSimi Valley TransitSunline Transit AgencyTorrance TransitVCTC - Ventura County

Transportation Commission

Free Connections

Connections to/from Metrolink

CC

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RTA

Antelope Valley LineInland Empire-Orange County LineOrange County LineRiverside LineSan Bernardino LineVentura County Line91/Perris Valley LineStation Served byMultiple LinesFuture StationArrow(Under Construction)

Updated April 2021. Please call or visit the agency website for additional details. Free transfer arrangements subject to change without notice.

metrolinktrains.com

Rail ServiceThe Pacific Surfliner stops adjacent to the Hollywood Burbank Airport on its route from San Luis Obispo to San Diego.

The Metrolink Ventura County line stops at two locations: adjacent to Hollywood Burbank Airport, and in Downtown Burbank. Service continues to Downtown Los Angeles with connections to the L.A. subway system and public transportation. Metrolink Antelope Valley Line also makes a stop in Downtown Burbank.

Amtrak Coast Starlight stops adjacent to Hollywood Burbank Airport on its route from Downtown Los Angeles to Seattle.

METROLINK


Building on its strengths in retail, commercial and mixed-use developments, the Glendale City Council directed staff to explore opportunities to further diversify Glendale’s economy. This strategy includes an emphasis on attracting high-paying growth sectors by focusing on attracting technology companies. Glendale is already home to many technology-based companies such as YP, Legal Zoom, and Age of Learning. The city’s relative proximity to movie studios (e.g., Disney and DreamWorks) and institutions of higher learning (e.g.Caltech, the Jet Propulsion Laboratory, and Glendale Community College) also gives the city a competitive advantage that can be leveraged for further industry growth.

The City of Glendale has successfully leveraged infrastructure and redevelopment investments to encourage top-flight retail, commercial, residential and mixed-use developments in the city. In the post-redevelopment era, the Glendale Economic Development Division1 aims to further maximize 1 The Economic Development Division was formerly known as the Glendale Economic Development Corporation.

Glendale’s economic activity by promoting an “18-hour City,” reducing Class A office vacancies, and improving city services to businesses. The Economic Development Division’s efforts, along with an improved economic outlook, have led to an increasingly vibrant Downtown Glendale. Residential development is at an all-time high, and Glendale’s vacant office space rates are on par with its counterparts, Burbank and Pasadena.

This Tech Strategy combines quantitative and qualitative analyses, including over 25 interviews with representatives from Glendale’s tech industry and related fields. It assesses the current condition of Glendale’s tech sector, identifies opportunities, recommends strategies and proposes initiatives to grow the city’s tech industry. The Glendale Tech Strategy is a roadmap that offers clear, actionable steps that the city and interested stakeholders can take to support the tech industry, promote start-ups and grow good-paying jobs.

MARKET OVERVIEW


The City of Glendale was incorporated on February 16, 1906 and spans approximately 30.6 square miles with a current population of approximately 203,054 people (US Census 2017 Population Estimates). Located minutes away from downtown Los Angeles, Pasadena, Burbank, Hollywood, and Universal City, Glendale is the fourth largest city in Los Angeles County and is surrounded by Southern California’s leading commercial districts.

As one of its core functions, Glendale provides well-maintained streets and a variety of transportation services. The City’s historic success at attracting employers is partially attributed to the result of its location at the center of four major freeways including the I-5 Golden State Freeway, SR-2 Glendale Freeway, ST-134 Ventura Freeway, and the 210 Foothill Freeway; all provide easy access for residents, workers, and customers from around the region. Glendale also offers its own bus services, the Beeline, with 13 routes connecting customers to Jet Propulsion Laboratory (JPL), the City of Burbank, and the Metrolink Stations in both Burbank and Glendale.

The Bob Hope Airport in Burbank serves the Los Angeles area including Glendale, Pasadena and the San Fernando Valley. It is the only airport in the greater Los Angeles area with a direct rail connection to downtown Los Angeles. The City of Glendale is located about 30 minutes from Los Angeles International Airport (LAX) which is a commerce leader and designated as a world-class airport for its convenient location, modern facilities, and superior sea/air/land connections.

Businesses and residents alike have taken advantage of Glendale’s central location, reputation for safety, excellent business environment, outstanding schools, state-of-the-art healthcare facilities, and growing restaurant and entertainment options. Glendale is also one of Southern California’s leading office markets featuring a wide range of properties and amenities. The City has over six million square feet of office space and is home to such recognized firms as Walt Disney Imagineering, ServiceTitan, IHOP / Applebee’s, DreamWorks, LegalZoom, and Public Storage.

Glendale prides itself on the quality of services it provides to the community. It is a full-service City, which includes a water and electrical department. The City operates its own power plant capable of serving the electrical needs of the entire city, although the majority of power is currently imported from other areas for cost savings. Water comes primarily from the Metropolitan Water District, along with a small portion from local wells. OFFERING MEMORANDUM | P.12

POPULATION

Fire Avg. Response Time

EMS Avg. Response Time

Police Avg. Response Time

Glendale’s Fire Department has a Class 1 Fire Rating for safety - only seven other communities in California have received this designation

Ambulances are strategically placed throughout the city at Stations 21, 22, 25, 26, 27, and 29 to provide immediate transport to local hospitals.

Glendale is one of the ten safest cities (pop 100K-500K) in the United States.

205,000

5min 19sec

4min 30sec

3min 31sec

MEDIAN INCOME$94,880

MEDIAN AGE41.2

PROPERTY VALUE$981,285

Households73,871

COMMUTE TIME26.8 Min

MAJOR COMPANIES• Age of Learning, maker of ABC Mouse• Avery Dennison Corporate Headquarters• CBRE L.A. North Industrial Team• Color Me Mine Corporate Headquarters• DineEquity• IHOP Corporate Headquarters• Disney Consumer Products• DreamWorks Studios• KABC-7• Public Storage Corporate Headquarters• Renegade Animation• LegalZoom• ServiceTitan• TechniColor• Univision Communications• Unum Group• Walt Disney Animation Studios• Whole Foods• Southern-Pacific Corporate Headquarters

205kChoose Glendale to live

96kChoose Glendale to Work

44k30mChoose Glendale to Learn

Choose Glendale to Shop

DEMOGRAPHICS

source: https://www.chooseglendaleca.com/


The Americana at Brand is one of the 15 most-productive and highest-grossing retail centers in the world. It brings together luxury living, shopping and entertainment to create a uniquely sophisticated and upscale Southern California urban environment with a classic American charm. And, it’s a true testament to the powerful, positive impact Caruso properties have on their surroundings. Hard to believe, but the site where The Americana at Brand stands was once a blighted area in the center of Glendale. Caruso’s vision, persistence and commitment to involving the citizens of Glendale in the process have not only made The Americana at Brand a major shopping destination for people from more than 80 zip codes, but a catalyst for accelerating revitalization of the entire Glendale community. Inspired by Boston’s historic Newbury Street, Caruso’s first mixed-use property is laid out as a classic American town square, circled by an orange trolley. At the center of the square stands a two-acre park that features Caruso’s largest and most magnificent fountain, which dances to timeless music, and is gloriously lit up in the evenings. The property also represents Caruso’s first mixed-use residential development, The Residences—242 apartments and 100 condominiums poised atop the retail spaces—which offers residents the opportunity to live in a vibrant, walkable and upscale urban environment not typically found in Los Angeles.

Established in 1923, Kenneth Village is a collection of shops, eateries, and services on Kenneth road in northwest Glendale, it’s architecture dating back to the 1920s. Because of its old time Mayberry-esque charm, Kenneth Village is the scenic location for hundreds of television shows, commercials and magazine ads. although the Village maintains much of its historic charm, you can now expect an eclectic selection of non-so-dated things to see, do and eat!

Brand Library & Art Center is the former home of Glendale pioneer Leslie Coombs Brand. L.C. Brand, often called the “father of Glendale,” built his beloved Miradero estate in 1904, here at the base of the Verdugo Mountains, with views of orange groves and undeveloped land all the way to Griffith Park in the distance. Its Moorish inspired exterior was modeled after the East India Pavilion at the 1893 World’s Columbian Exposition in Chicago, which Mr. Brand visited. The mansion’s striking towers, minarets, and repeating scalloped arches soon caused locals to nickname it Brand’s Castle. In a generous civic-minded gesture, Brand left his home and adjacent land to the City for use as a public park and library when he died in 1925. After Mrs. Brand’s death in 1945, the City worked with architect Raymond Jones to convert the building from home to library, which opened for business in 1956.

For more than 90 years, Glendale’s Alex Theatre has been the centerpiece of the City’s arts, culture and community programming. The Theatre’s diverse schedule boosts roughly 250 events and attracts more than 130,000 patrons per year. Program offerings range from classical, contemporary and world music concerts, to film screenings, live theatre and stand-up comedy. In addition, the Alex Theatre also hosts award shows, fundraisers and a variety of other special events and frequently serves as a location for television, commercial and film productions.

THE AMERICANA AT BRAND

KENNETH VILLAGE

BRAND LIBRARY & ART CENTER

ALEX THEATRE


POPULATION

HOUSEHOLDS

HOUSING

2020 POPULATION BY RACE

1 MILE

1 MILE

1 MILE

1 MILE

3 MILE

3 MILE

3 MILE

3 MILE

5 MILE

5 MILE

5 MILE

5 MILE

2026 PROJECTION2

2021 ESTIMATE

2010 CENSUS

WHITE

BLACK

AM. INDIAN & ALASKAN

ASIAN

HAWAIIAN & PACIFIC ISLAND

OTHER

2026 PROJECTION

2021 ESTIMATE

2010 CENSUS

2021 AVG HOUSEHOLD INCOME

2021 MED HOUSEHOLD INCOME

31,987

32,345

32,513

9,927

10,065

10,258

$99,442

$70,904

71,654

71,861

69,129

$98,269

$71,078

205,387

194,254

190,896

$104,978

$77,456

284,693

288,375

292,575

699,072

710,299

732,095

28,115 183,617 483,260

22,770 80.99%

448 1.59%

127 0.45%

3,395 12.08%

16 0.06%

1,359 4.83%

362,258 74.96%

13,645 2.82%

3,626 0.75%

83,913 17.36%

663 0.14%

19,157 3.96%

140,829 76.70%

3,852 2.10%

1,053 0.57%

29,780 16.22%

222 0.12%

7,881 4.29%

DEMOGRAPHICS 1434-1436 W. GLENOAKS BLVD.GLENDALE, CA 91201


NAI Capital Commercial, Inc. (hereinafter “NAI”) has been retained as the exclusive advisor and broker regarding the sale of the Property located at 1434-1436 Glenoaks Blvd, Glendale, CA 91201

This Offering has been prepared by NAI for use by a limited number of parties and does not purport to provide a necessarily complete summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by NAI, the Owner, and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and, therefore, are subject to variation. No representation is made by NAI or Owner as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, NAI, Owner, and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in, or for omission from, this Investment Offering or any other written or oral communication transmitted or made available to the recipient. This Offering does not constitute a representation that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the package. Analysis and verification of the information contained in this package is solely the responsibility of the prospective purchaser.

Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors.

Owner and NAI each expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing this Offering or making an offer to purchase the Property unless and until a written agreement for the purchase of the Property has been fully executed,

delivered, and approved by Owner and its legal counsel, and any conditions to Owner’s obligations thereunder have been satisfied or waived. NAI is not authorized to make any representations or agreements on behalf of Owner.

This Offering and the contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein are called the “Contents”), are of a confidential nature. By accepting the package, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the package or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Owner or NAI, (iv) not use the package or any of the contents in any fashion or manner detrimental to the interest of Owner or NAI, and (v) to return it to NAI immediately upon request of NAI or Owner.

If you have no further interest in the Property, please return this InvestmentOffering forthwith.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

DO NOT DISTURB OCCUPANT

FOR MORE INFORMATION CONTACT:

GUILLERMO OLAIZExecutive Vice President

[email protected] Lic. No. 01778986

JOHN S. ARCHIBALDExecutive Vice President


CONFIDENTIALITY AGREEMENT


JOHN S. ARCHIBALDExecutive Vice President



GLENDALE, CA 91201

FOR SALE100% LEASED SIGNALIZED CORNER RETAIL CENTER

GUILLERMO OLAIZExecutive Vice [email protected] Lic. No. 01778986

JOHN S. ARCHIBALDExecutive Vice [email protected] Lic. No. 00996775

225 S. LAKE AVE., SUITE 1170 | PASADENA, CA 91101626.564.4800 | www.naicapital.com


for sale 1434-1436 w. glenoaks blvd. 100% leased

Documents