for sale - 제씨리닷컴 n palm ave fresno ca-omp.pdf · for sale absolute nnn ban ground lease...

FOR SALEABSOLUTE NNN BANK GROUND LEASE

Bryan CifranicDirect Line: 559/ 650.1316 [email protected] BRE License #01809130

Tom AndersonDirect Line: 559/ 650.1303 [email protected] BRE License #00670627

For further information, please contact:

5240 North Palm Avenue | Fresno, CA 93704Property Features: • Absolute Triple Net Ground Lease - Zero Landlord Responsibilities • High Volume Branch - Over $128M in Deposits• Credit Tenant and subsidiary of Zions Bancorp with assets in excess of $57B• High Traffic Location - Over 73,000 ADT @ Shaw and Palm Ave• Part of the Premier Fig Garden Financial Center• Established Bank Branch Location since 1988

Price: $4,577,600CAP Rate: 6.0%




FOR SALESINGLE TENANT NET-LEASED PROPERTY

Investment Offering

PRICE: $4,577,600 CAP RATE: 6.0%

LEASE TERM: 1/01/1985 - 1/01/2020 TENANT: California Bank & Trust

BUILDING: 9,448 ± S.F. LOT: 1.30± AC

LEASE TYPE: Ground Lease - Absolute Triple-Net (NNN)

The subject offering consists of a free-standing, brick construction, high deposit (over $128M) bank branch leased to California Bank & Trust and located within the prestigious Fig Garden Financial Center, in the affluent northwest area of the City of Fresno, California. The subject property is encumbered by an original 35-year, Absolute Triple Net (NNN), Ground Lease that extends to January 1, 2020 and there are three additional lease extension option periods of 5-years each. The subject property is located within the premier Fig Garden Financial Center which contains over 300,000 square feet of Class “A” office space. Tenants within the project include major stock brokerages, law firms, financial services companies and banks including Bank of America, Union Bank, and Comerica Bank. The subject property is located on an approximate 1.3 acre parcel near the main signalized entrance to the Fig Garden Financial Center (Palm Avenue and San Jose Avenue) and the nearby intersection of Palm Avenue and Shaw Avenue which boosts traffic counts in excess of 73,000 cars per day. The property is located immediately adjacent to Fig Garden Village, Central California’s premier open-air lifestyle shopping center featuring over 275,000 square feet of retail space leased to some of the most exclusive specialty, national, regional, and local retailers in the trade area. Notable Tenant’s in Fig Garden Village include Whole Foods, Pottery Barn, Banana Republic, Williams-Sonoma, Coach, Lululemon, J. Crew, plus many more.

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Tenant Overview

California Bank & Trust, a subsidiary of Zions Bancorporation (NASDAQ: ZION) with assets in excess of $57 Billion, is one of the largest banks headquartered in California with over $11 Billion in assets, over

$9.7 Billion in deposits and more than 100 branches statewide.

California Bank & Trust is headquartered in San Diego, California

2014 Total Assets: $11.34 Billion

2014 Total Deposits: $9.7 Billion

Number of Branches: 100

Number of Employees: Approximately 1,700

Credit Rating: BBB - (Fitch) - Baa3 (Moody’s)

For over 60 years, CB&T has helped generations of Californians grow and prosper providing a full array of financial solutions for businesses and individuals, including commercial lending, small business lending, SBA financing, cash

management, international banking and wealth management.

For more information on California Bank & Trust please visit: www.calbanktrust.com

About California Bank & Trust’s Parent Company: Zions BancorporationCalifornia Bank & Trust is an autonomous subsidiary of Zions Bancorporation (Nasdaq: ZION), a bank holding company with assets in excess of $57 Billion. Zions’ size and reputation as a premier financial services provider gives California Bank & Trust financial stability and access to all the expertise and services available within the holding company, while retaining the ability to make local decisions. Zions is included in the S&P 500 and NASDAQ Financial 100 indices and is a national leader in Small Business Administration lending, public finance, advisory services, and agricultural finance. Zions Bancorporation operates its banking affiliates under local management teams and community entities through approximately 475 full-service offices in 11 Western states including Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

For more information on Zions Bancorporation please visit: www.zionsbancorporation.com





Lease Summary

Tenant: California Bank & Trust, a California State Chartered Bank and subsidiary of Zions Bancorporation

Lease Type: Ground Lease - Absolute Triple-Net (NNN)

Lease Term: January 1, 1985 to January 1, 2020

Renewal Options: Three (3) for a Period of Five (5) Years Each

Rent: $22,888.19 monthly / $274,658.28 annually

Renewal Option Rent: Option #1 - Fair Market Value, But No Less Than Previous Rent Option #2 - Fair Market Value, But No Less Than Previous Rent Option #3 - Fair Market Value, But No Less Than Previous Rent

Expenses: Tenant is responsible for Payment of the Property Taxes, Payment of the Property Insurance, and Repair and Maintanence of the Interior and Exterior of the Building and Land Improvements.

Tenants Right to Purchase: None

Estoppel Certificate: Tenant Must Provide Within Ten (10) Business Days From Notice

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Neighboring Properties





Site Plan





Accessors Parcel Map





Location Overview: Fresno, CaliforniaFresno is located in the central San Joaquin Valley 175 miles south of the San Francisco/Bay Area, 215 miles north of Los Angeles, and 110 miles east of the central coast. The county has a diverse population of approximately 1 Million people. Covering an area of more than 6,000 square miles, Fresno is the state’s sixth largest county. Fresno County’s economy is based in agriculture and produces more crops in terms of gross value than any other area in the United States. Fresno is home to a wide variety of manufacturing operations many with ties to agriculture in the food processing, meat and dairy industries. Due to its central location within the state of California, Fresno has become a thriving distribution and logistics hub. Distributirs can reach nearly all parts of California, a market of over 30 million people, overnight by truck.

Five major Freeways pass through Fresno County including 99, 41, 180, 168 and Interstate 5, as well as rail service from Burlington Northern Santa Fe and Union Pacific. Fresno is known as the gateway to the Sierras, and offers a wide variety of outdoor recreational opportunities including Yosemite and Sequoia National Parks, numerous lakes and rivers, snow skiing, water sports and east access to the central coast popular for surfing, fishing, whale watching and wine. Residents of Fresno also enjoy a very low cost of living relative to California (Median home price $185,000), boast an uncongested freeway system, have access to great shopping and entertainment, top ranked schools, opportunities for higher education including California State University Fresno and the mild California climate.

On the 25th anniversary of Fig Garden FinancialCenter, we would like to take this opportunity to thankour many loyal tenants and their great employees forcontinuing to make the 350,000 s.f. complex the bestlocation to do business in the Greater Fresno area.

Daily you experience the convenience of walking tothe many Fig Garden Village stores and restaurants.Collectively you manage over 11 billion dollars of assetsdilligently and in a professional manner. You haveshown your loyalty and approval by extending yourlease terms into the next two decades. Thanks you.

You came because you thought Fig Garden FinancialCenter was the best place to do business - you stayedbecause it is.

– Richard V. Gunner and George Andros

Fig Garden Financial Centerw o u l d l ik e to s ay

fo r 25 year s of l o ya l t y

Attorneys ............................................ 136

CPAs ..................................................... 52

Stock Brokers ..................................... 101

Banking Professionals ..........................63

Insurance/Other Professionals ........... 114

TOTAL PROFESSIONALS.................... 466

Est. Assets Under Management ~10.5 BILLION DOLLARS

The Largest assemblyof Financial Professionals

in Central California:

BANK OF AMERICA (25 years)

WACHOVIA BANK (25 years)

UNION BANK (24 years)

DIETRICH, GLASRUD, MALLEK & AUNE

(24 years)

MORGAN STANLEY SMITH BARNEY

(24 years)

BAKER MANOCK & JENSEN (23 years)

MERRILL LYNCH (22 years)

AON RISK SERVICES (22 years)

CINGULAR WIRELESS (22 years)

DELOITTE (22 years)

KIMBLE, MACMICHAEL & UPTON (21 years)

CALIFORNIA BANK & TRUST (21 years)

BERRY & HOMEN CPA’S (19 years)

ATF/SECRET SERVICE (18 years)

HARTFORD INSURANCE (18 years)

CASWELL BELL & HILLISON LLP (17 years)

CHIELPEGIAN LAW OFFICES (17 years)

ARGONAUT INSURANCE CO. (17 years)

UBS FINANCIAL SERVICES (16 years)

RBC DAIN RAUSCHER (16 years)

LANG, RICHERT & PATCH (16 years)

KELLY SERVICES, INC. (15 years)

JULIA ANN BRUNGESS (14 years)

BERBERIAN BROTHERS (13 years)

COMERICA BANK (13 years)

BLUE SHIELD OF CALIFORNIA (12 years)

AEGON USA REALTY ADVISORS (11 years)

ROBERT HALF INTERNATIONAL (11 years)

SHAHBAZIAN, BACON & MILES (11 years)

ROBERT KOLIGIAN, JR. (10 years)

RUTH ANN EDGINTON (10 years)

MCCOLLOM & BUNCH (9 years)

LITTLER MENDELSON PC (9 years)

HOWARD CONSULTING (8 years)

BIGGS CARDOSA ASSOCIATES, INC.(8 years)

NEW ENGLAND FINANCIAL (8 years)

DECIPHER (7 years)

ZURICH AMERICAN LEGAL (6 years)

THOMAS H. ARMSTRONG (4 years)

AG STRATEGIES, INC (4 years)

BOOS & ASSOCIATES (3 years)

CULVER CAREERS (3 years)

STARBUCKS REGIONAL OFFICE (3 years)

FRESNO REGIONAL FOUNDATION (3 years)

KATHLEEN P. CLACK (2 years)

WELLS FARGO INSURANCE SERVICES

(2 years)

KLEIN, DENATALE, GOLDNER, COOPER,ROSENBLIEB & KIMBELL, LLP (1 year)

2455

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25th ANNIVERSARY

Fig Garden Financial Center





5240 N. Palm AvenueFresno, California

1 MILE RADIUS

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POPULATION11,148 62,025 362,875 687,63111,173 62,299 367,430 711,09310,695 59,805 351,726 660,88110,561 58,054 328,580 568,676

5.6% 6.8% 10.4% 20.9%

2013 Estimated Population 2018 Estimated Population 2010 Census Population2000 Census Population Historical Growth 2000 to 2013

HOUSEHOLDS4,630 23,022 123,021 216,7014,662 23,209 125,010 224,5614,613 23,012 123,403 215,2094,711 22,968 117,632 189,272

2013 Est. Households2018 Proj. Households2010 Census Households 2000 Census Households

INCOME$79,887 $63,066 $60,309 $64,509$58,343 $45,807 $45,532 $49,219

2013 Est. Average Household Income 2013 Est. Median HH Income2013 Est. Per Capita Income $33,769 $23,615 $20,602 $20,607

RACE77.2% 61.4% 55.4% 54.4%3.4% 7.4% 7.3% 6.9%4.5% 6.3% 9.9% 11.9%.1% .2% .2% .2%.9% 1.4% 1.7% 1.6%

2013 Est. White Population2013 Est. Black or African American Population2013 Est. Asian Population2013 Est. Native Hawaiian and OPI Population2013 Est. American Indian and Alaska Native Population2013 Other Races Population 9.2% 18.0% 20.4% 20.2%

EDUCATION8,157 39,435 216,738 404,259

15.6% 23.2% 23.9% 23.1%18.8% 18.3% 18.3% 17.3%10.1% 9.0% 8.2% 8.1%25.5% 18.0% 15.0% 15.1%

2013 Est. Adult Population (25 years and over)2013 Est. High school graduate, GED, or alternative2013 Est. Some college, 1 or more years, no degree2013 Est. Associate's degree2013 Est. Bachelor's degree2013 Est. Master's degree 10.0% 5.6% 4.6% 4.6%

BUSINESS16,678 77,224 389,008 710,4579,982 39,501 166,070 281,075

2013 Total Daytime Population2013 Total Number of Employees2013 Total Daytime at Home Population 6,696 37,723 222,938 429,382

Demographics





Disclaimer

Commercial Retail Associates, Inc. hereby advises all prospective buyers of property as follows:

The information contained in this Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party

receiving it from Commercial Retail Associates, Inc. and should not be made available to any other person or entity without the written consent

of Commercial Retail Associates, Inc. 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. Commercial Retail Associates, Inc. and it’s Agents 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, Commercial Retail Associates, Inc. and it’s Agents has not verified, and will not

verify, any of the information contained herein, nor has Commercial Retail Associates, Inc. and its Agents 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.

All property showing are by appointment only. Please consult your Commercial Retail Associates Agent for more details.

By accepting this Marketing Brochure you agree to release Commercial Retail Associates, Inc. and it’s Agents and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.

FOR FURTHER INFORMATION CONTACT

TOM ANDERSONCA BRE Lic #00670627

BRYAN CIFRANICCA BRE Lic #01809130

(559) 650-1300

for sale - 제씨리닷컴 n palm ave fresno ca-omp.pdf · for sale absolute nnn ban ground lease...

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