8,844 SF office micro-campus for sale or lease
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1 8,844 SF office micro-campus for sale or lease Escondido, CA MARC POSTHUMUS Vice President CHRIS WILLIAMS Associate Vice President HANK JENKINS Associate
2 contents 03 Opportunity 04 Details 05 Conceptual Interior Renderings 06 Floor Plan 07 Replacement Cost Analysis 08 Location 09 Neighbors 10 Neighborhood
3 opportunity Offering Summary SPACE AVAILABLE 8,844 SF 704 E. Grand Avenue is a two building office micro-campus totaling approximately 8,844 SF located in the heart of Escondido. The property offers a unique opportunity to occupy a project that has historical character coupled with the functionality of new construction. Highlights Walkable Urban Location Walk to the vibrant downtown Escondido retail district for a dense collection of amenities. PARKING 4+/1,000 SF Brand New Building Renovation From a functional standpoint the building will be brand new including new HVAC, electrical, plumbing, roofing, ADA bathrooms, drought tolerant landscaping, etc. Abundant Parking 37 dedicated parking spaces (4+/1,000 SF) with ample street parking directly adjacent to the project Indoor/Outdoor Work Environment The project will have working overhead doors and windows that open to a center courtyard Highly Visible Corner Project is located at the signalized corner of Fig and E Grand with a bus stop situated in front of the building. MIN. DIVISIBLE 4,200 SF No Traffic Commute - the property is well located as a reverse commute from executive housing on the coast and in close proximity to more affordable housing along the I-15 Corridor. 704 E GRAND AVE 3
4 details Total Space Available: 8,844 SF Rental Rate: $2.00/SF NNN (NNN s approximately $0.40/SF) Sale Price: $2,950,000 Min. Divisible: Property Type: Building Size: Building Class: Year Renovated: Parking: Lot Size: ±4,200 SF Office Bldg A: ±4,200 SF Bldg B: ±4,600 SF Class A Renovation 2017 ground-up renovation in progress 37 spaces (4+/1,000 SF) Abundant street parking 24,393 SF Spec plan is to build out space with a creative office design, but ownership is 100% open to building a traditional office or medical space. 60 month minimum lease required, but open to longer term E GRAND AVE
5 conceptual renderings interior Courtyard Between Buildings 704 E GRAND AVE 5
6 Collaborative Work Area E GRAND AVE
7 Break Area 704 E GRAND AVE 7
8 floor plan Electrical Room Large Conference Room 16'-5" x 14'-11" Private Office 9'-6" x 8'-0" Open Office Open Office Break Room Amenity Space Building A ±4,200 SF (Grand Avenue) (Parking / Alley Side) Building B Break Room Amenity Space Data Room Building B ±4,600 SF Open Office Private Office 11'-7" x 14'-11" Private Office 11'-7" x 12'-5" Private Office 11'-7" x 14'-0" Large Conference Room 16'-5" x 10'-8" Small Conf. Room 10'-0" x 8'-0" Private Office 10'-0" x 8'-0" Open Office Electrical Room E Grand - Buildings A & B Combined Exterior Gross Area: ±8,844 Gross Square Feet (GSF) 8,844 Gross Square Feet (GSF) BOMA Measurements calculated per ANSI/BOMA Z Gross Areas of a Building: Standard Methods of Measurement. Space Plans Creative Office (Scale 3/32" = 1'-0") East Grand Avenue, Escondido, California n E GRAND AVE
9 replacement analysis cost CATEGORY PRICE per RSF RSF VALUE Building Shell & Core Improvements $200 8,844 $1,768,800 Site & Parking Lot $15 8,844 $132,660 Tenant Improvements $80 8,844 $707,520 Soft Costs (including financing) $20 8,844 $176,880 Entrepreneurial Profit $10 8,844 $88,440 Total: New Project Replacement Costs $325 $2,874,300 + Land Market Value Buildable SF $100 $884,400 = TOTAL PROPERTY REPLACEMENT COSTS $425 $3,758,700 OWN YOUR BRAND NEW BUILDING FOR 28% BELOW REPLACEMENT COST! 704 E GRAND AVE 9
10 El No rte wy P ity location C re nt Ce Pk kwy y Convenient site location provides direct access to CA-78 and I-15 freeways kw P e ort N El Ro c ks pr in s g Rd adw Bro n col n i L e Av ay le Val SITE Mis sion Rd Was A h on ingt Ave Access to CA-78 via Fig Street ut Escondido Auto Par k Access to I-15 via Valley Pkwy ey Pk w wy Pk lvd ity ob ec did con ntr Ce y Es do Pkwy y Wa ark op Citrica County Club Dr Palomar Pomerado Hospital 10 wy k yp 704 E GRAND AVE
11 neighbors HARDING ST N. BROADWAY PARK PL N. HICKORY ST. N. GRAPE ST E WASHINGTON AVE ELMWOOD DR N. ASH ST block from proposed 14 acre mixed use commercial/residential project on site of old Palomar Hospital site. W. VALLEY PKWAY E VALLEY PKWY CENTRE CITY PKWY DOWNTOWN ESCONDIDO W. GRAND AVE S. BROADWAY W. 2ND AVE E 2ND AVE S ESCONDIDO BLVD PENNSYLVANIA AVE Escondido Public Library W 3RD AVE E 3RD AVE S MAPLE ST VALLEY BLVD S. JUNIPER ST S. KALMIA ST S HICKORY ST E. 4TH AVE we 6TH AVEE S GRAPE ST E 5TH AVE N ELM ST S ELM ST Touchstone Development S FIG ST N DATE ST S DATE ST SITE N CEDAR ST E. GRAND AVE CHESTNUT ST PARK H LL D R N BEECH ST S BEECH ST SOL VISTA GLEN S. ASH ST SAN PASQUAL VALLEY RD blocks from downtown retail district. Can walk/bike drive to one of the most dense collection of retail amenities in san Diego county. + + Direct access to I-15 and CA-78 within a mile + + Little to no traffic driving to 704 from I-15 and CA-78 in the morning and afternoon. Flow of traffic moves in opposite direction during rush-hour. 704 E GRAND AVE 11
12
13 neighborhood NEW! - Cistmontane Brewing Co. (10 minute walk away) Maple Street Plaza (0.8 miles) The Wooden Spoon (0.3 miles) COMING SOON! Touchstone Mixed-use Development E GRAND AVE
14 Mi Guadalajara Mexican Restaurant (1 mile) Grape Day Park (0.7 miles) Vintana - Fine Dining Restaurant (2.4 miles) Cruisin Grand - Friday Nights (April - Sept) 704 E GRAND AVE 14
15 704 CHRIS E GRAND MARC POSTHUMUS Vice President Lic. No marc.posthumus@colliers.com WILLIAMS Associate Vice President Lic. No chris.williams@colliers.com HANK JENKINS Associate Lic. No hank.jenkins@colliers.com Escondido, CA SAN DIEGO-NORTH 5901 Priestly Drive, Suite 100, Carlsbad, CA main Lic. No colliers.com/sandiego 2017 Colliers International. Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification.
E GRAND AVE AVAILABLE. Restaurant Space TURN-KEY. 4,925 SF Plus ±1,000 SF Patio ESCONDIDO, CA VIC GAUSEPOHL KIRK ALLISON
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