pinole gateway shopping center - costar ah · marcus & millichap real estate investment...

Offering Memorandum

Pinole Gateway Shopping CenterPinole, CA

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

NON-ENDORSEMENT NOTICE

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

CONFIDENTIALITY AND DISCLAIMER

Investment Sales:

exclusively listed

PINOLE GATEWAY SHOPPING CENTERP i n o l e , C A

Kirk Trammell Senior Managing Director InvestmentsPALO ALTOTel: 650-391-1809 Fax: [email protected] License: CA 01038657

David Cutler Senior AssociatePALO ALTOTel: (650) 391-1753Fax: (650) [email protected] License: CA 01514751

Joshua JohnsonSenior AssociatePALO ALTOTel: (650) 391-1784Fax: (650) [email protected] License: CA 01930127

Vince SchwabSenior Managing Director InvestmentsSAN FRANCISCOTel: 415-625-2171 Fax: [email protected] License: CA 00840133

Exclusively listed by:

OFFICES NATIONWIDEwww.marcusmillichap.com

Table of Contents

Pinole Gateway Shopping Center

EXECUTIVE SUMMARYOffering Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Investment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

PROPERTY DESCRIPTIONProperty Details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Aerial Photo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Local Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Regional Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

FINANCIAL ANALYSISRent Roll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1510-Year Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

TENANT OVERVIEWTenant Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

MARKET OVERVIEWLocation Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

summaryE X E C U T I V E S U M M A R Y

EXECUTIVE SUMMARY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future

performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap ACT ID Y00104322

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WPinole Gateway Shopping Center

Offering Highlights

TENANT GLALEASE

EXPIRATIONLEASE TYPE

Orangetheory Fitness 3,022 Apr-27 NNN

Jovance Salon and Barbering 2,455 Jul-27 NNN

The Habit Burger 2,450 Dec-26 NNN

Tropical Smoothie Café 1,700 Mar-27 NNN

Cookie Dough Parlor 1,444 Aug-27 NNN

Tenants

PINOLE GATEWAY SHOPPING CENTER1400-1424 Pinole Valley Road, Pinole, CA 94564

Offering Price $10,350,000

Current Occupancy 100%

Gross Leasable Area (GLA) 11,071

Year Built 2016

Lot Size 2.01 Acres / 87,381 SF

Offering Summary

Year 1 Cap Rate 5.30%

Year 1 Net Operating Income $548,622

Vital Data

Marcus & Millichap has been selected to exclusively market for sale a portion of the Pinole Gateway Shopping Center in Pinole, California . This offering represents the rare opportunity to acquire a newly constructed 11,071-square-foot trophy multi-tenant retail center in the San Francisco Bay Area . Pinole Gateway Shopping Center is anchored by a strong performing Sprouts Farmers Market (NAP), one of the most successful natural and organic grocers in the nation . The asset is 100% leased to The Habit Burger, Orangetheory Fitness, Jovance Salon and Barbering, Tropical Smoothie, and Cookie Dough Parlor . The site is ideally located at the interchange of Pinole Valley Road and Interstate 80 . Pinole Gateway Shopping Center is visible from Interstate 80 and also has a landmark pylon sign that is visible from the freeway . More than 180,000 vehicles pass the site each day on Interstate 80, making this retail center one of the most high-profile shopping centers in the East Bay .

The subject property has a total of 11,071 square feet of gross leasable area that is currently configured into five tenant spaces. There is a traffic signal and dedicated left turn lane at the property; this greatly improves access to the center and allows for free flow of traffic in and out of the property . The building improvements were constructed in 2016 and are in excellent condition . Parking is currently provided in a surface lot at a ratio of 6 .54 spaces per 1,000 square feet .

This asset is positioned for long-term success due to its prominent location and strong tenant mix . In addition to being visible and easily accessible from Interstate 80, the center has a grocery anchor that creates significant drawing power. Due to the lack of competitive natural and organic grocers in the immediate area, Sprouts draws customers from beyond the typical trade area for a grocery store. The traffic to the center greatly benefits the restaurant and personal services tenants in the shop space and makes it attractive to a wide range of retail users . The current retail uses are complementary and include a fitness tenant, health and beauty spa, two fast casual restaurants, and a dessert/treat shop .

Investment Overview

Investment Highlights■■ Brand New Trophy Retail Center Shadow-Anchored by Sprouts Farmers Market

■■ Core San Francisco Bay Area Asset in a Supply-Constrained Market

■■ High Visibility Location at the Interchange of Pinole Valley Road and Interstate 80

■■ Sprouts Farmers Market Creates Significant Drawing Power for the Property

■■ Good Mix of Restaurant and Personal Service Uses

■■ All Tenants Have a Minimum Term of Ten Years and Rent Increases Every Five Years

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future

performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap ACT ID Y00104323

EXECUTIVE SUMMARYE

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descriptionP R O P E R T Y D E S C R I P T I O N

PROPERTY DESCRIPTIONE

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6This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap ACT ID Y0010432

Property Details

SITE DESCRIPTION

Site Size 2.01 Acres

Parking Ratio 6.54 Per 1,000 SF

Topography Generally Level

PARCELS

Number of tax parcels One

APN 401-410-019

CONSTRUCTION

Foundation Reinforced Concrete Slab

Framing Wood Frame

Exterior Painted Stucco and Stone

Parking Surface Pavers and Asphalt

Roof Built-Up

MECHANICAL

HVAC Roof-Mounted Package Units

Fire Protection Fire Sprinklers and Alarm

Utilities Public; All to Site

ZONING

Pinole Valley Road Land Use Plan; Office Professional Mixed Use

ACCESS POINTS

Located Between Interstate 80 and Henry Avenue, with a Signalized Entrance Mid-Block

UTILITIES

Gas Pacific Gas & Electric (Tenant Responsible)

Electric Pacific Gas & Electric (Tenant Responsible)

Water East Bay Municipal Utilities District (Tenant Responsible)

Sewer West County Wastewater District (Tenant Responsible)

Trash Richmond Sanitary Service (Tenant Responsible)

No Vacant Space; 100% Leased

AVAILABLE SPACE CONDITION

Aerial Map

Pinole Vista Crossing

Pinole Vista Shopping Center

Subject Property

PROPERTY DESCRIPTION

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 Marcus & Millichap ACT ID Y0010432

Aerial Map

Interstate 80


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Subject Property

Interstate 80


Local Map

PROPERTY DESCRIPTION

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Regional Map


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analysisF I N A N C I A L A N A LY S I S

Rent Roll

SUITE TENANT NAME SQFT % OF PROJECT

LEASESTART

LEASEEND

RENEWAL OPTIONS

LEASE TYPE PERIOD ANNUAL

RENTMONTHLY RENT

MONTHLY RENT PSF

1400 Orangetheory Fitness 3,022 May-17 Apr-27 Two, 5-Year NNN Year 1 $160,166 $13,347 $4.42

27.3% w/15% Admin Fee Year 6 $176,183 $14,682 $4.86

Year 11 (Option 1)* $181,468 $15,122 $5.00

Year 16 (Option 2)* $210,371 $17,531 $5.80

1406 Jovance Salon & Barbering 2,455 Aug-17 Jul-27 Two, 5-Year NNN Year 1 $117,840 $9,820 $4.00

22.2% w/15% Admin Fee Year 6 $129,624 $10,802 $4.40

Year 11 (Option 1) $142,584 $11,882 $4.84

Year 16 (Option 2) $156,852 $13,071 $5.32

1412 The Habit Burger 2,450 Dec-16 Dec-26 Three, 5-Year NNN Year 1 $129,850 $10,821 $4.42

22.1% w/10% Admin Fee Year 6 $142,835 $11,903 $4.86

Year 11 (Option 1) $157,119 $13,093 $5.34

Year 16 (Option 2) $172,823 $14,402 $5.88

Year 21 (Option 3) $190,096 $15,841 $6.47

1418 Cookie Dough Parlor 1,444 Sep-17 Aug-27 Two, 5-Year NNN Year 1 $69,312 $5,776 $4.00

13.0% w/15% Admin Fee Year 6 $76,243 $6,354 $4.40

Year 11 (Option 1) $83,868 $6,989 $4.84

Year 16 (Option 2) $92,257 $7,688 $5.32

1424 Tropical Smoothie 1,700 Apr-17 Mar-27 Three, 5-Year NNN Year 1 $85,850 $7,154 $4.21

15.4% w/15% Admin Fee Year 6 $94,435 $7,870 $4.63

Year 11 (Option 1) $103,887 $8,657 $5.09

Year 16 (Option 2) $114,274 $9,523 $5.60

Year 21 (Option 3)

Totals 11,071 $563,018 $46,918

100%

*Rent increases 3.0% annually during the option periods

95% of FMR but not less than rent in 2nd option period

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14

FINANCIAL ANALYSIS


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15

Pinole Gateway Shopping CenterFINANCIAL ANALYSIS


PROPERTY OPERATING PARAMETERS

Market Rents $4.33

Lease Type NNN w/15% Admin Fee

Growth Rates

Market Rents

Year 1 2.50%

Therafter 2.50%

Operating Expenses 3.00%

Real Estate Taxes 2.00%

Capital Reserves 3.00%

General Vacancy

Year 1 2.00%

Therafter 2.00%

Operating Expenses (Year 1)

Real Estate Taxes $130,576

Special Assessments $4,464

Property Insurance $4,400

Maintenance $11,000

Utilities $4,000

Landscaping $2,200

Sweeping $1,200

Phone/Alarm Monitoring $1,000

Property Management $21,880

Total Operating Expenses $180,720

$16.32 SF/YR

Amount Reimbursed by Tenants $181,210

PROPERTY TIMING

Start of Analysis October-2017

End of Analysis September-2027

Analysis Period 10 Years

MARKET LEASING ASSUMPTIONS

New Tenants Renewal Tenants

Renewal Probability 30% 70%

Market Rents (SF/MO): $4.33 $4.33

Downtime 6 Months 0 Months

Tenant Improvements $20.00 SF $5.00 SF

Leasing Commissions 5.00% 0.00%

Rent Escalation 10% Midterm 10% Midterm

Lease Term 10 Years 10 Years

Lease Type NNN w/15% Admin Fee NNN w/15% Admin Fee

Assumptions

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FINANCIAL ANALYSIS


10 Year Cash Flow

For the Years Ending: Year 1 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10$/SF Sep-2018 Sep-2019 Sep-2020 Sep-2021 Sep-2022 Sep-2023 Sep-2024 Sep-2025 Sep-2026 Sep-2027

Potential Gross Revenue Base Rental Revenue $50.86 $563,018 $563,018 $563,018 $563,018 $586,842 $619,320 $619,320 $619,320 $619,320 $640,836 Absorption & Turnover Vacancy 0.00 0 0 0 0 0 0 0 0 0 0 Scheduled Base Rental Revenue 50.86 563,018 563,018 563,018 563,018 577,459 619,320 619,320 619,320 619,320 632,125

Expense Reimbursement Revenue Real Estate Taxes 11.79 130,575 133,186 135,851 138,568 141,339 144,166 147,049 149,990 152,991 156,049 Special Assessments 0.40 4,464 4,598 4,736 4,877 5,024 5,175 5,330 5,490 5,654 5,823 Property Insurance 0.40 4,401 4,532 4,668 4,807 4,952 5,101 5,254 5,411 5,574 5,741 Maintenance 1.14 12,649 13,029 13,420 13,823 14,237 14,665 15,104 15,558 16,024 16,503 Utilities 0.40 4,467 4,602 4,739 4,882 5,027 5,180 5,333 5,495 5,659 5,830 Landscaping 0.23 2,530 2,606 2,684 2,766 2,846 2,933 3,022 3,112 3,205 3,301 Sweeping 0.12 1,380 1,421 1,465 1,509 1,554 1,601 1,648 1,697 1,748 1,801 Phone/Alarm Monitoring 0.10 1,150 1,184 1,220 1,257 1,294 1,334 1,373 1,414 1,457 1,500 Property Management 1.77 19,594 19,690 19,787 19,887 20,634 21,618 21,724 21,834 21,947 22,641 Total Reimbursement Revenue 16.37 181,210 184,848 188,570 192,376 196,907 201,773 205,837 210,001 214,259 219,189

Total Potential Gross Revenue 67.22 744,227 747,866 751,588 755,394 783,748 821,092 825,157 829,322 833,578 860,025 General Vacancy (1.34) (14,885) (14,957) (15,032) (15,108) (15,675) (16,422) (16,503) (16,586) (16,672) (17,201)

EFFECTIVE GROSS REVENUE 65.88 729,342 732,909 736,556 740,286 768,073 804,670 808,654 812,736 816,906 842,824

Operating Expenses Real Estate Taxes 11.79 130,576 133,187 135,851 138,568 141,339 144,166 147,049 149,990 152,990 156,050 Special Assessments 0.40 4,464 4,598 4,736 4,878 5,024 5,175 5,330 5,490 5,655 5,824 Real Estate Taxes 0.40 4,400 4,532 4,668 4,808 4,952 5,101 5,254 5,411 5,574 5,741 Special Assessments 0.99 11,000 11,330 11,670 12,020 12,381 12,752 13,135 13,529 13,934 14,353 Real Estate Taxes 0.36 4,000 4,120 4,244 4,371 4,502 4,637 4,776 4,919 5,067 5,219 Special Assessments 0.20 2,200 2,266 2,334 2,404 2,476 2,550 2,627 2,706 2,787 2,871 Property Insurance 0.11 1,200 1,236 1,273 1,311 1,351 1,391 1,433 1,476 1,520 1,566 Common Area Maintenance 0.09 1,000 1,030 1,061 1,093 1,126 1,159 1,194 1,230 1,267 1,305 Property Management 1.98 21,880 21,987 22,097 22,209 23,042 24,140 24,260 24,382 24,507 25,285 Total Operating Expenses 16.32 180,720 184,286 187,934 191,662 196,193 201,071 205,058 209,133 213,301 218,214

NET OPERATING INCOME $49.55 $548,622 $548,623 $548,622 $548,624 $571,880 $603,599 $603,596 $603,603 $603,605 $624,610

tenantsT E N A N T O V E R V I E W

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TENANT OVERVIEW


Tenant Summary

The Habit Restaurants, Inc. (NASDAQ: HABT) operates fast casual restaurants under The Habit Burger Grill name. It specializes in offering fresh made-to-order char-grilled burgers and sandwiches featuring choice tri-tip steak, grilled chicken, and sushi-grade albacore tuna cooked over an open flame; and salads, as well as sides, shakes, and malts. As of March 2017, the company operated approximately 170 restaurants in 15 locations in California, Arizona, Utah, New Jersey, Florida, Idaho, Virginia, Nevada, Washington, Maryland, and the United Arab Emirates. The Habit Restaurants, Inc. was founded in 1969 and is headquartered in Irvine, California.www.habitburger.com

Orangetheory Fitness is a privately owned fitness franchise based in Boca Raton, Florida. The company offers one-of-a-kind group personal training in more than 625 locations throughout the United States. They also have locations in Australia, Canada, Japan, Mexico, United Kingdom, Colombia, Israel, and Peru. Personal trainers lead members through an interval fitness concept that incorporates endurance, strength, and power ele-ments through a variety of equipment, including treadmills, rowing machines, TRX suspension training, and fre weights. In 2015, Orangetheory Fitness was ranked #455 in Inc. magazine’s “Fast-Growing Private Compa-nies” list; in 2016, it was ranked as #255 in Entrepreneur magazine’s “Franchise 500” list of top franchises in the world.www.orangetheoryfitness.com

Tropical Smoothie Cafe franchises a chain of quick casual restaurants offering a variety of signature smooth-ies, sandwiches, flat breads and salads. While it was founded 20 years ago as a smoothie concept, today over 40% of store revenues are derived from food purchases. They opened their first franchised location in 1997 in Tallahassee, Florida, and have since expanded to more than 400 locations nationwide. In 2012, private equity firm BIP Opportunities Fund purchased a controlling interest in the company.www.tropicalsmoothiecafe.com

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19

Pinole Gateway Shopping CenterTENANT OVERVIEW


Tenant Summary

Jovance Salon and Barbering specializes in transforming all hair types using care, specialized skill, and speed in an upscale and family-like environment. Jovance is unique because it is the only multicultural salon on the West Coast that provides services in an upscale atmosphere while making guests feel at home and a part of the salon family. Their line of services includes hair styling, hair coloring, lash and eyebrow treatments, manicures and pedicures, waxing, facials, make-up, and barbering. The strong teamwork of the stylists and technicians is proven by the efficiency of their services and showcased in their care for the clients so that each guest walks away feeling beautiful inside and out.www.jovance.com

Cookie Dough Parlor was inspired by a love of cookie dough and ice cream. This dessert spot offers 16 differ-ent flavors of ice cream and 12 flavors of cookie dough that is safe to eat right out of the bowl. The store sells treats that can be consumed at the scoop shop or that can be taken home and eaten later. They also sell non-edible cookie dough related merchandise that includes jewelry, clothing, and bath and body products. Cookie Dough Parlor also hosts birthday parties and offers dessert catering for events. www.cookiedoughparlor.com

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Location OverviewThe city of Pinole is located in northwestern Contra Costa County on the shores of San Pablo Bay . Pinole is situated approximately 13 miles north of downtown Oakland and 22 miles northeast of downtown San Francisco . Founded in 1903, the city had an estimated population of 19,562 at the end of 2016, which represents an increase of 4 .9% over the population of 18,652 as of the 2010 census . The median household income in the city is estimated at $78,269 and the per capita income is estimated at $35,874 .

The economy of Pinole is primarily dependent on the service and retail sectors . Per-sonal, professional, and business services represent the largest portion of the econo-my, with retail outlets a close second . Health care jobs represent approximately 23% of all employment, with retail jobs constituting about 34% of local jobs . Financial, insurance, and real estate employment is the third largest sector, with about 5% of total city employment . The largest employers in the city of Pinole are West Contra Costa County Unified School District, the City of Pinole, Kaiser Health Center, Target, Lucky Supermarket, K-mart and Best Buy. The city of Pinole primarily serves as a bedroom community, with many residents commuting to nearby employment centers such as Oakland, Emeryville, Walnut Creek, Concord, and southern Solano County .

Pinole is easily accessible from Oakland, San Francisco, and the other communi-ties of the North Bay and East Bay . Intestate 80 runs through the city and is the main north-south freeway that links Sacramento to the San Francisco Bay Area . State Highway 4 intersects with Interstate 80 just north of Pinole and provides access to the Interstate 680 corridor and eastern Contra Costa County .

The city of Pinole is located in Contra Costa County, which is one of the fastest growing population regions in the state . Between 2000 and 2106, the population in Contra Costa County increased by more than 18% . This is attributed to a combina-tion of factors, including the supply of relatively inexpensive housing, availability of land for development, and a diverse and growing economy . The county has favor-able income demographics, with a median household income of $81,251 and per capital income of $41,978 . Major employers in the county include Chevron, AAA of Northern California, Bay Area Rapid Transit, John Muir Medical Center, Kaiser Per-manente, Bio-Rad Laboratories, St . Mary’s College, USS-POSCO Industries . The economy is based primarily on white-collar jobs that provide business, educational, health care, and engineering services, but there are a significant number of manufac-turing and government jobs in the county .

Major Employers - Contra Costa County

Chevron

AAA of Northern California

Bay Area Rapid Transit

John Muir Medical Center

Kaiser Permanente

Bio-Rad Laboratories

St. Mary’s College

USS-POSCO Industries

Bay Alarm Company

La Raza Market

Demographics

2021 Projected Population 19,661

2016 Estimated Population 19,562

2010 Census Population 18,652

% Growth 2016-2021 0.5%

% Growth 2010-2016 4.9%

Median Household Income $78,269

Per Capita Income $35,874

Average Household Income $97,977

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Demographic SummaryPOPULATION 1 Miles 3 Miles 5 Miles

• 2021 Projection

Total Population 18,626 99,786 174,904

• 2016 Estimate


• 2010 Census


• 2000 Census


• Current Daytime Population

2016 Estimate 11,564 66,508 116,404

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

• 2021 Projection

Total Households 7,025 35,320 59,323

• 2016 Estimate


Average (Mean) Household Size 2.67 2.79 2.86

• 2010 Census


• 2000 Census


• Occupied Units

2021 Projection 7,025 35,320 59,323

2016 Estimate 6,702 34,053 58,030

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

• 2016 Estimate

$150,000 or More 15.25% 13.25% 11.14%

$100,000 -$149,000 21.67% 19.82% 17.69%

$75,000 -$99,999 17.26% 16.24% 15.20%

$50,000 -$74,999 18.41% 18.36% 18.27%

$35,000 -$49,999 7.85% 10.08% 11.55%

Under $35,000 16.32% 19.52% 23.77%

Average Household Income $111,902 $101,785 $92,489

Median Household Income $85,409 $77,917 $69,656

Per Capita Income $41,635 $36,068 $31,518

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

• Population By Age

2016 Estimate Total Population 17,858 95,193 168,264

Under 20 21.43% 22.66% 24.04%

20 to 34 Years 19.41% 19.66% 20.89%

35 to 39 Years 5.99% 6.09% 6.64%

40 to 49 Years 13.24% 13.68% 13.94%

50 to 64 Years 24.40% 22.92% 21.02%

Age 65+ 15.51% 14.98% 13.47%

Median Age 42.62 41.23 38.82

• Population 25+ by Education Level

2016 Estimate Population Age 25+ 12,859 67,331 116,234

Elementary (0-8) 2.93% 4.19% 7.58%

Some High School (9-11) 4.37% 5.96% 7.69%

High School Graduate (12) 18.92% 20.41% 21.79%

Some College (13-15) 23.21% 25.95% 23.76%

Associate Degree Only 9.65% 9.52% 8.67%

Bachelors Degree Only 28.68% 23.12% 19.73%

Graduate Degree 10.37% 8.93% 8.52%

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

Total Average Household Retail Expenditure $78,534 $75,822 $72,317

• Consumer Expenditure Top 10

Housing $23,082 $22,422 $21,680

Shelter $15,341 $14,892 $14,454

Transportation $13,531 $13,100 $12,344

Personal Insurance and Pensions $8,536 $7,975 $7,323

Food $8,327 $8,066 $7,739

Health Care $4,866 $4,659 $4,373

Utilities $3,737 $3,666 $3,547

Entertainment $3,036 $2,922 $2,784

Cash Contributions $2,099 $1,875 $1,748

Apparel $1,867 $1,854 $1,804

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Demographic SummaryGeography: 5 Miles

Demographic data © 2010 by Experian/Applied Geographic Solutions.

PopulationIn 2016, the population in your selected geography is 17,858 . The population has changed by 12 .07% since 2000 . It is estimated that the population in your area will be 18,626.00 five years from now, which represents a change of 4 .30% from the current year . The current population is 46 .60% male and 53 .40% female . The median age of the population in your area is 42 .62, compare this to the US average which is 37 .68 . The population density in your area is 5,678 .45 people per square mile .

Households There are currently 6,638 households in your selected geography . The number of households has changed by 17 .72% since 2000 . It is estimated that the number of households in your area will be 7,025 five years from now, which represents a change of 5 .83% from the current year . The average household size in your area is 2 .67 persons .

Income In 2016, the median household income for your selected geography is $85,409, compare this to the US average which is currently $54,505 . The median household income for your area has changed by 29 .22% since 2000 . It is estimated that the median household income in your area will be $99,127 five years from now, which represents a change of 16.06% from the current year .

The current year per capita income in your area is $41,635, compare this to the US average, which is $29,962 . The current year average household income in your area is $111,902, compare this to the US average which is $78,425 .

Race and Ethnicity The current year racial makeup of your selected area is as follows: 32 .43% White, 15.25% Black, 0.40% Native American and 36.01% Asian/Pacific Islander . Compare these to US averages which are: 70 .77% White, 12 .80% Black, 0.19% Native American and 5.36% Asian/Pacific Islander. People of Hispanic origin are counted independently of race .

People of Hispanic origin make up 18 .77% of the current year population in your selected area . Compare this to the US average of 17 .65% .

Housing The median housing value in your area was $482,361 in 2016, compare this to the US average of $187,181 . In 2000, there were 4,356 owner occupied housing units in your area and there were 1,283 renter occupied housing units in your area . The median rent at the time was $785 .

Employment In 2016, there are 3,168 employees in your selected area, this is also known as the daytime population . The 2000 Census revealed that 67 .21% of employees are employed in white-collar occupations in this geography, and 32 .02% are employed in blue-collar occupations . In 2016, unemployment in this area is 3 .38% . In 2000, the average time traveled to work was 39 .00 minutes .

Investment Sales:

exclusively listed

PINOLE GATEWAY SHOPPING CENTERP i n o l e , C A

Kirk Trammell Senior Managing Director InvestmentsPALO ALTOTel: 650-391-1809 Fax: [email protected] License: CA 01038657

David Cutler Senior AssociatePALO ALTOTel: (650) 391-1753Fax: (650) [email protected] License: CA 01514751

Joshua JohnsonSenior AssociatePALO ALTOTel: (650) 391-1784Fax: (650) [email protected] License: CA 01930127

Vince SchwabSenior Managing Director InvestmentsSAN FRANCISCOTel: 415-625-2171 Fax: [email protected] License: CA 00840133

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pinole gateway shopping center - costar ah · marcus & millichap real estate investment...

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