RARE MARIN COUNTY TRIPLE NET INVESTMENT ±29,000 SF ±3.33 ACRES $12,950,000 PAD B Parcel 4 PAD C Parcel 5 JERRY SUYDERHOUD Sr. Managing Director jsuyderhoud@ngkf.com O: 415.526.7660 CA RE License #00633998 THE COMCAST BUILDING 1111 ANDERSEN DRIVE SAN RAFAEL CA
PROPERTY SUMMAR ±25,000 SF two-story office/warehouse with ±4,000 SF warehouse ±3.33 acres (±145,054 SF) Currently leased by Comcast as North Bay site for its fulfillment operations Over 200 vehicle parking spaces Leased to January 31, 2023, with (2) five-year options Annual rent increase of 2% Originally built for Comcast Predecessor in 1984 Comcast has right to purchase until 12/25/18 Triple net lease Monthly rent as of 2/1/19 is $48,424.98 Annual rent as of 2/1/19 is $578,915.76 4.47% capitalization rate Zoned: LI/O (Light Industrial/Office) Under 20% FAR (Floor area ratio) Continually occupied by Cable TV operator since new Original plans show 241 car parking 2 2
ABOUT MARIN COUT The San Francisco Bay Area has experienced a robust amount of growth since the Great Recession of 2008/2009. With its close proximity to San Francisco on the other side of the Golden Gate Bridge, Marin County has always been an outstanding place to live with its Mediterranean climate. As a result, Marin has the 13th-highest median household income in the US ($103,845) of any county. Marin County s estimated population is 260,955 with a growth rate of 0.62% in the past year according to the most recent United States census data. The Spanish settlement in Marin was not established until 1817 when Mission San Rafael Archangel was founded in what is now downtown San Rafael as the 20th Spanish mission in the colonial Mexican province of Alta California, partly in response to the Russian-built Fort Ross to the north, in what is now Sonoma County. Geographically, the county forms a large, southward-facing peninsula, with the Pacific Ocean to the west, San Pablo Bay, and San Francisco Bay to the east, and across the Golden Gate the city of San Francisco to the south. Marin County's northern border is with Sonoma County. Most of the county's population resides on the eastern side, near US Highway 101, with a string of communities running along San Francisco Bay, from Sausalito to Tiburon to Corte Madera to San Rafael. The interior contains large areas of agricultural and open space; West Marin, through which State Route 1 runs alongside the California coast, contains many small unincorporated communities whose economies depend on agriculture and tourism. West Marin has beaches which are popular destinations for surfers and tourists year-round. Marin County's natural sites include the Muir Woods redwood forest, the Marin Headlands, Stinson Beach, the Point Reyes National Seashore, and Mount Tamalpais. Sonoma-Marin Area Rail Transit (SMART) is the San Francisco Bay Area s newest transportation option for travel, offering passenger rail service in Sonoma and Marin counties. SMART s initial 43 miles of rail corridor includes 10 stations, from the Sonoma County Airport to Downtown San Rafael. Future extensions include: Larkspur, which is scheduled to be completed in 2019; Windsor; Healdsburg; and Cloverdale. The full project will provide 70 miles of passenger rail service, connecting SMART passengers with jobs, education centers, retail hubs and housing along the Sonoma-Marin corridor, and a bicycle-pedestrian pathway. There are a very few parcels of land available for development and with high barriers to entry, real estate values have been on an upward trajectory for a decade and 1111 Andersen Drive is an irreplaceable asset. 3
SITE AERIAL 4
SITE PLAN 5
PH O - O FFI CE 1111 A N D E R S E N D R I V E, S A N R A F A E L, C A 6 6
PH OTO WAR EH O USE 1111 A N D E R S E N D R I V E, S A N R A F A E L, C A 7 7
AMENITIES AERIAL MAP MAP SAN RAFAEL 580 8 LARKSPUR
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RIN COUNTY TRIPLE NET 1111 ANDERSEN DRIVE SAN RAFAEL CA JERRY SUYDERHOUD Senior Managing Director O. 415.526.7660 M. 415.531.2815 jsuyderhoud@ngkf.com CA RE License #0633998 1101 Fifth Avenue, Suite 230 San Rafael, CA 94901 www.ngkf.com WOODLAND AVE BELLAM BLVD KERNER BLVD FRANCISCO BLVD E ANDERSEN DR 580 The distributor of this communication is performing acts for which a real estate license is required. The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.