village medical arts plaza€¦ · village medical arts plaza 341 magnolia ave. corona, ca 92879...
TRANSCRIPT
VILLAGE MEDICALARTS PLAZA
341 MAGNOLIA AVE., STE. 201 & 203CORONA, CA 92879
Brett Larson, JD, CCIMManaging Director
951.600.8634 [email protected]
CalDRE #01947115
Eugene Hill Senior Advisor951.600.8634 x4
[email protected] #01361763
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Disclaimer
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be usedfor any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent ofthe SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receivingthese materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.
Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct,and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representationsor warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or madeavailable to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fullyexecuted and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor anyof their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this OfferingBrochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on termsacceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing andagreed to release the Owner and the SVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospectivepurchaser proceeds at its own risk.
1 PROPERTYINFORMATION
341 Magnolia Ave., Suites 201 & 203Corona, CA 92879
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 3
OFFERING SUMMARYSale Price:
Suite Size:
SF Leased:
Net Operating Income:
SF Available:
Building Size:
Floors:
Elevators:
Year Built:
$3,210,000
± 8,584 (gross)
± 6,101
± $113,514
± 2,483
43,260 SF
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2006
SVN | Insight is pleased to present this rare sale-leaseback opportunity at one of Corona's
premiere medical office projects - Village Medical Arts Plaza. Suites 201 & 203 total
approximately ±8,584 square feet of fully improved medical office space in a growing trade
area where demand medical services and household incomes are on the rise. This
opportunity is ideal for an physician looking to occupy a portion of the space while
collecting passive income on the adjacent unit. Upon close of escrow, Seller will leaseback
Suite 201 (±6,101 SF) on a 5-year term while Suite 203 (±2,483 SF) will remain available for
an owner-user or future tenant.
SALE LEASEBACK / OWNER-USER OPPORTUNITY
Property Summary
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SALE HIGHLIGHTS
• Offered at $3,210,000
• Fully improved medical office suite totaling ±8,584 gross SF (±7,295
net) with high quality finishes throughout
• Space features:
• - 19 Exam/Consult Rooms
• - 4-6 Physician Offices
• - 3 Nurse's Stations
• - 2 Waiting Room / Reception Areas
• - Call Center and Charting Stations
• Prominent building signage
• Market income from seller leaseback occupying ±6,101 SF (5-year
lease term)
• Located within a Class A project designed exclusively for medical
use
• Professionally managed project
• Two (2) gurney-capable building elevators
• Less than 1.5 miles from two regional hospitals
• Well-insured, high income community
Complete Highlights
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plan
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Owner-User Analysis
2 LOCATIONINFORMATION
341 Magnolia Ave., Suites 201 & 203Corona, CA 92879
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 8
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Local Map
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Regional Map
3 SALECOMPARABLES
341 Magnolia Ave., Suites 201 & 203Corona, CA 92879
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 11
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
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SUBJECT PROPERTY PRICE BLDG SF PRICE/SF
Village Medical Arts Plaza341 Magnolia Ave., Suites 201 & 203Corona, CA 92879
$3,210,000 8,584 SF $373.95
SALE COMPS PRICE BLDG SF PRICE/SF CLOSE
Corona Medical Center2057 Compton Ave.Corona, CA 92881
$5,150,000 10,340 SF $498.07 02/07/2019
Van Buren Piazza3595 Van Buren Blvd.Riverside, CA 92503
$3,770,609 11,000 SF $342.78 03/02/2018
Market Street Corporate Center2190 Market St.Riverside, CA 92501
$2,046,131 6,290 SF $325.30 10/24/2018
Ocean Park Plaza23846 Sunnymead Blvd.Moreno Valley, CA 92553
$2,530,000 5,437 SF $465.33 04/05/2019
Plaza Seville41540 Winchester Rd.Temecula, CA 92590
$2,700,000 6,818 SF $396.01 05/09/2019
PRICE BLDG SF PRICE/SF CLOSE
Totals/Averages $3,239,348 7,977 SF $406.09
Sale Comps
341 Magnolia Ave., Suites 201 & 203, Corona, CA 92879SUBJECT PROPERTY
1 2057 Compton Ave.Corona, CA 92881
CORONA MEDICAL CENTER2 3595 Van Buren Blvd.
Riverside, CA 92503
VAN BUREN PIAZZA3
2190 Market St.Riverside, CA 92501
MARKET STREET CORPORATECENTER 4 23846 Sunnymead Blvd.
Moreno Valley, CA 92553
OCEAN PARK PLAZA
5 41540 Winchester Rd.Temecula, CA 92590
PLAZA SEVILLE
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 13The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Sale Comps Map
4 LEASECOMPARABLES
341 Magnolia Ave., Suites 201 & 203Corona, CA 92879
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 14
RENT COMPS LEASE START SIZE PRICE/SF/MO LEASE TYPE LEASE TERM
Village Medical Arts Plaza341 Magnolia Ave.Corona, CA 92879
6/1/2018 2,084 SF $2.35 NNN 36
Village Medical Arts Plaza341 Magnolia Ave.Corona, CA 92879
8/1/2017 1,222 SF $2.10 NNN 60
Hope Medical Arts Plaza29798 Haun Rd.Menifee, CA 92586
7/1/2018 1,500 SF $2.50 NNN 48
Nutmeg Professional Plaza23644 Clinton Keith Rd.Murrieta, CA 92562
6/1/2018 2,350 SF $2.10 NNN 60
Makena Medical Center31150 Temecula ParkwayTemecula, CA 92592
4/1/2019 5,349 SF $2.05 NNN 120
Rancho Pueblo Professional Park31515 Rancho Pueblo Rd.Temecula, CA 92592
7/1/2018 2,038 SF $2.35 NNN 36
Totals/Averages
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VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 15The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Lease Comps
1 341 Magnolia Ave.Corona, CA 92879
VILLAGE MEDICAL ARTS PLAZA2 341 Magnolia Ave.
Corona, CA 92879
VILLAGE MEDICAL ARTS PLAZA3 29798 Haun Rd.
Menifee, CA 92586
HOPE MEDICAL ARTS PLAZA4 23644 Clinton Keith Rd.
Murrieta, CA 92562
NUTMEG PROFESSIONAL PLAZA
5 31150 Temecula ParkwayTemecula, CA 92592
MAKENA MEDICAL CENTER6
31515 Rancho Pueblo Rd.Temecula, CA 92592
RANCHO PUEBLO PROFESSIONALPARK
341 Magnolia Ave., Suites 201 & 203, Corona, CA 92879SUBJECT PROPERTY
VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | Page 16The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Lease Comps Map
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951.600.8634 x1www.svninsight.com