fullerton redevelopment opportunity...alstyle apparel llc 3,765 st jude hospital 2,582 st jude...

Offering Memorandum

FULLERTON REDEVELOPMENT OPPORTUNITY201 West Orangethorpe Avenue • Fullerton, CA 92832

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe 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 a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & 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.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

FULLERTON REDEVELOPMENT OPPORTUNITY

Fullerton, CA

ACT ID ZAA0140053

2

Listing Broker Contacts:

Andrew Kim Einar Roden(213) 943-1894 (213) 943-1866Lic. CA 01947008 Lic. CA 01187703

Investment Advisors


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INVESTMENT

OVERVIEW

OFFERING SUMMARY

Price $3,800,000

Down Payment 100% / $3,800,000

Loan Type All Cash

Lot Size (SF) 35,937

Price/SF $105.74

Lot Size (Acres) 0.82 acre(s)

Price/Acre $4,606,061

Type of Ownership Fee Simple

#

EXECUTIVE SUMMARY

OFFERING SUMMARY

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OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES *

Disney 4,327

Northgate Market 4,002

Social Services Agency 4,000

Alstyle Apparel LLC 3,765

St Jude Hospital 2,582

St Jude Medical Ctr Purch Dept 2,500

Medieval Times Entrmt Inc 1,916

Alstyle AP & Activewear MGT Co 1,800

Kirkhill-Ta Co 1,650

McDonalds 1,550

Walmart 1,454

White Lodging Services Corp 1,319

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 33,617 256,711 636,592

2010 Census Pop 31,105 239,020 597,403

2017 Estimate HH 9,770 73,554 192,481

2010 Census HH 8,972 68,051 179,409

Median HH Income $50,347 $59,463 $63,086

Per Capita Income $20,287 $23,931 $26,376

Average HH Income $68,577 $82,340 $86,434

* # of Employees based on 5 mile radius


OFFERING SUMMARY

▪ Best Shopping Area in Fullerton

▪ Entitlements for Four-Story Building

▪ Large 35,937 Square Feet Lot

▪ Vacant Building has 6.882 Square Feet

▪ Property is Sold "As-Is"

▪ Interior Shown with Accepted Offer

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to present 201 West Orangethorpe Avenue in Fullerton, California. This large parcel consists of approximately 35,937 square feet (0.825

acres) with C-2 zoning. This offering includes approved plans for construction of a four-story, 12,184 square foot, mixed-use building with restaurant space on the ground

floor and office space on floors two-four. There will be 67 surface parking spaces provided with this project.

201 West Orangethorpe Avenue has an exceptional location in the premier shopping section of Fullerton and is within walking distance to Costco, Target, Best Buy,

Marshalls, Michaels, banks, schools, and a variety of restaurants. It's only minutes away from the Fullerton Metro Station and Fullerton College. Strong demographics

include a population of 252,908 within a three-mile radius and average annual household income of $82,340. Traffic counts along West Orangethorpe Ave are

approximately 26,000 cars per day.

INVESTMENT OVERVIEW

5


PROPERTY SUMMARY

OFFERING SUMMARY

THE OFFERING

Property Fullerton Redevelopment Opportunity

Price $3,800,000

Property Address 201 W Orangethorpe Ave, Fullerton, CA

SITE DESCRIPTION

Lot Size (SF) 35,937

Price/SF $105.74

Lot Size (Acres) 0.8200


Type of Ownership Fee Simple

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#

LOCATION OVERVIEW

CLOSE PROXIMITY TO:

201 West Orangethorpe Avenue Fullerton, CA 92832

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMEFULLERTON REDEVELOPMENT OPPORTUNITY

PRICING AND VALUATION MATRIX


LOCATION OVERVIEW

7

Marcus & Millichap closes

more transactions than any other

brokerage firm.

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8

PROPERTY PHOTO

12


9

PROPERTY PHOTO

AERIAL PHOTO


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11

MARKET

COMPARABLES


SALES COMPARABLES MAP

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FULLERTON REDEVELOPMENT

OPPORTUNITY

(SUBJECT)

600 W Commonwealth Ave

336 E Santa Fe Ave

200 N Lemon St

455 W Bastanchury Rd

La Palma Village

Assemblage

SALES COMPARABLES

1

2

3

4

5

13


SALES COMPARABLES

Avg. $74.14

$0.00

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

$200.00

201 WOrangethorpe

Ave

600 WCommonwealth

Ave

336 E SantaFe Ave

200N Lemon St

455 WBastanchury

Rd

La PalmaVillage

Assemblage

Average Price Per Square Foot

Avg. $3,229,504

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

$5,000,000

201 WOrangethorpe

Ave

600 WCommonwealth

Ave

336 E SantaFe Ave

200N Lemon St

455 WBastanchury

Rd

La PalmaVillage

Assemblage

Average Price Per Acre

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


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SALES COMPARABLES

Asking Price $3,800,000

Down Payment $3,800,000

Down Payment % 100%

Price/SF $105.74

Lot Size (Acres) 0.82 acre(s)


201 W ORANGETHORPE AVE201 W Orangethorpe Ave, Fullerton, CA, 92832

ENTITLED: YES | PERMIT READY: YES

1

Close of Escrow 7/31/2018

Sales Price $19,770,000

Zoning C-H Fullerton

Price/SF $94.75



NOTES

The sellers had secured entitlements for a 290-unit multifamily property

prior to sale. The sellers reported that this was a cash plus joint venture

deal, they will have an interest in the new property that the buyer's will

build.

600 W COMMONWEALTH AVE600 W Commonwealth Ave, Fullerton, CA, 92832

ENTITLED: YES | PERMIT READY: NO

2



Zoning M-1

Price/SF $73.27



NOTES

Public records indicate permits for a four story 55+ affordable unit

multifamily apartment building with 1,475 square feet of office space and

subterranean parking.

336 E SANTA FE AVE336 E Santa Fe Ave, Fullerton, CA, 92832

ENTITLED: YES | PERMIT READY: YES

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


15

SALES COMPARABLES

NOTES

The site was once an AT&T facility and surface parking lot but then was

subsequently entitled for a mixed-use residential project. The project will

consist of 220 apartments and ground level retail.

3



Zoning MU

Price/SF $81.15



200 N LEMON ST200 N Lemon St, Anaheim, CA, 92805


4



Zoning O-P Fullerton

Price/SF $50.69



NOTES

Two vacant, free-standing medical office buildings totaling 41,851 square

feet. The buyer is planning to develop a senior care facility at this site. No

sale conditions were reported.

455 W BASTANCHURY RD455 W Bastanchury Rd, Fullerton, CA, 92835

ENTITLED: NO | PERMIT READY: NO

5



Zoning Mixed Use Overlay

Price/SF $70.84



NOTES

Assemblage: In total, the buyer purchased four contiguous properties for

$16,170,000 from four sellers. Concession given by the seller was a buyout

of all remaining tenants leases, a dollar amount was not given. There is a

mixed-use plan on file.

LA PALMA VILLAGE ASSEMBLAGE125 W La Palma Ave, Anaheim, CA, 92801



16

MARKET

OVERVIEW

MARKET OVERVIEW

ORANGE COUNTYOVERVIEW

1

One of the longest uninterrupted stretches of public beaches in the

world along 42 miles of Pacific Ocean defines the western edge of

Orange County, which is located in the heart of Southern California.

The county’s land area covers 790 square miles, bordering the counties

of Los Angeles, San Diego, Riverside and San Bernardino.

Outdoor activities, beaches and temperate climate attract visitors,

residents and businesses, expanding the local population to more than

3.2 million. Anaheim, the home to major theme parks, is the largest city

in the county with a population of 360,000 people. Santa Ana, Irvine

and Huntington Beach all have more than 200,000 residents.

MARKET OVERVIEW

METRO HIGHLIGHTS

DIVERSE EMPLOYMENT

Tourism, high-tech operations, healthcare,

education and aerospace/military contractors are

major employers in the metro.

EXTENSIVE FOREIGN INVESTMENT

Numerous foreign investment firms and businesses

establish headquarters in the area to be near

Southern California ports of entry.

PROXIMITY TO OTHER MARKETS

Orange County is 30 miles to Los Angeles and 90

miles from San Diego. The Mexican border is 110

miles away.


MARKET OVERVIEW

ECONOMY▪ The local economy contains an employment base of more than 1.2 million workers.

▪ The aerospace and technology industries make up a significant portion the economy, while

homeland security and defense contracts support smaller electronics firms.

▪ Research and development at private and educational institutions play a vital role in the

growing a high-tech base that includes companies such as Allergan and Google.

▪ Travel and tourism draw many visitors and support the retail and hospitality sectors. The

area contains beaches and attractions such as Disneyland and Knott’s Berry Farm.

SHARE OF 2017 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

University of California, Irvine

The Walt Disney Co.

St. Joseph Health Systems

Boeing Co.

Bank of America Corp.

Memorial Care Health System

Wells Fargo

Kaiser Permanente

Allied Universal

Hoag Memorial Hospital Presbyterian* Forecast

2

MANUFACTURING

9%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

16%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

19%

6%

10% 14% 7%

13%


MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The local population will expand by more than 72,600 residents over the next five

years and during this time, nearly 38,100 households will be added.

▪ Due in part to high home prices, the homeownership rate of 57 percent is below the

national rate of 64 percent.

▪ Roughly 38 percent of the population age 25 and older have attained a bachelor’s

degree, with 13 percent also holding a graduate or professional degree.

From fishing to yachting, water sports of every kind abound at the beaches, harbors and

marinas on the Orange County coast. Many of its beaches are famous for surfing; the town

of Huntington Beach is known worldwide as Surf City, USA. The weather is also perfect for

golfing, hiking and biking. Orange County also has a world-class selection of entertainment,

restaurants and shopping. The area boasts big attractions such as Disneyland and Knott’s

Berry Farm. Orange County also hosts major sports teams in baseball, hockey and soccer.

Educational institutions of higher learning include two public universities, California State

University, Fullerton, and the University of California in Irvine.

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

QUALITY OF LIFE

3

2017 Population by Age

0-4 YEARS

6%5-19 YEARS

19%20-24 YEARS

7%25-44 YEARS

28%45-64 YEARS

27%65+ YEARS

14%


37.7

2017MEDIAN AGE:

U.S. Median:

37.8

$81,000

2017 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$56,300

3.2M

2017POPULATION:

Growth2017-2022*:

2.3%

1.1M

2017HOUSEHOLDS:

3.6%

Growth2017-2022*:

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2018 Experian

Created on February 2019

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Population 33,507 258,695 641,266

▪ 2017 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Daytime Population

2017 Estimate 26,174 252,908 672,483

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Households 9,970 75,334 197,246

▪ 2017 Estimate


Average (Mean) Household Size 3.33 3.38 3.23

▪ 2010 Census


▪ 2000 Census


HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2017 Estimate

$250,000 or More 1.83% 3.06% 3.34%

$200,000 - $249,999 1.32% 2.18% 2.11%

$150,000 - $199,999 3.12% 5.35% 6.25%

$125,000 - $149,999 4.64% 5.34% 6.33%

$100,000 - $124,999 7.40% 9.37% 9.70%

$75,000 - $99,999 11.92% 14.03% 14.63%

$50,000 - $74,999 20.08% 18.23% 17.66%

$35,000 - $49,999 14.43% 13.22% 12.67%

$25,000 - $34,999 11.66% 9.67% 9.00%

$15,000 - $24,999 12.05% 9.42% 8.95%

Under $15,000 11.54% 10.13% 9.36%

Average Household Income $68,577 $82,340 $86,434

Median Household Income $50,347 $59,463 $63,086

Per Capita Income $20,287 $23,931 $26,376

20

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS


Created on February 2019

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population by Age

0 to 4 Years 8.01% 7.51% 6.90%

5 to 14 Years 14.73% 14.30% 13.40%

15 to 17 Years 4.37% 4.35% 4.15%

18 to 19 Years 2.55% 2.80% 2.70%

20 to 24 Years 8.22% 8.30% 8.03%

25 to 29 Years 9.22% 8.44% 8.42%

30 to 34 Years 8.61% 7.65% 7.49%

35 to 39 Years 7.20% 6.88% 6.75%

40 to 49 Years 13.64% 13.75% 13.67%

50 to 59 Years 10.82% 11.86% 12.57%

60 to 64 Years 3.58% 4.10% 4.53%

65 to 69 Years 2.72% 3.07% 3.57%

70 to 74 Years 2.14% 2.27% 2.65%

75 to 79 Years 1.53% 1.69% 2.01%

80 to 84 Years 1.22% 1.36% 1.53%

Age 85+ 1.46% 1.67% 1.62%

Median Age 31.63 32.75 34.24

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population 25+ by Education Level

2017 Estimate Population Age 25+ 20,886 161,065 412,637

Elementary (0-8) 16.73% 13.79% 10.21%

Some High School (9-11) 12.09% 11.21% 10.03%

High School Graduate (12) 24.17% 22.68% 22.23%

Some College (13-15) 19.93% 19.95% 21.24%

Associate Degree Only 5.70% 6.10% 6.88%

Bachelors Degree Only 12.17% 15.96% 18.91%

Graduate Degree 5.07% 7.09% 7.74%

21

Income

In 2018, the median household income for your selected geography is

$50,347, compare this to the US average which is currently $56,286.

The median household income for your area has changed by 27.48%

since 2000. It is estimated that the median household income in your

area will be $56,107 five years from now, which represents a change

of 11.44% from the current year.

The current year per capita income in your area is $20,287, compare

this to the US average, which is $30,982. The current year average

household income in your area is $68,577, compare this to the US

average which is $81,217.

Population

In 2018, the population in your selected geography is 33,617. The

population has changed by 6.38% since 2000. It is estimated that the

population in your area will be 33,507.00 five years from now, which

represents a change of -0.33% from the current year. The current

population is 50.36% male and 49.64% female. The median age of the

population in your area is 31.63, compare this to the US average

which is 37.83. The population density in your area is 10,699.37

people per square mile.

Households

There are currently 9,770 households in your selected geography. The

number of households has changed by 9.75% since 2000. It is

estimated that the number of households in your area will be 9,970

five years from now, which represents a change of 2.05% from the

current year. The average household size in your area is 3.33

persons.

Employment

In 2018, there are 12,307 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

45.50% of employees are employed in white-collar occupations in this

geography, and 54.57% are employed in blue-collar occupations. In

2018, unemployment in this area is 6.43%. In 2000, the average time

traveled to work was 27.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

50.41% White, 2.97% Black, 0.25% Native American and 9.35%

Asian/Pacific Islander. Compare these to US averages which are:

70.42% White, 12.85% Black, 0.19% Native American and 5.53%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 68.70% of the current year

population in your selected area. Compare this to the US average of

17.88%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $415,413 in 2018,

compare this to the US average of $193,953. In 2000, there were

3,378 owner occupied housing units in your area and there were 5,524

renter occupied housing units in your area. The median rent at the

time was $713.


DEMOGRAPHICS

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fullerton redevelopment opportunity...alstyle apparel llc 3,765 st jude hospital 2,582 st jude...

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