A 124-unit RTI Multi-Family development site ideally located in a Tier 3 TOC along Van Nuys Boulevard amongst a sea of new development in the densely populated East VAN NUYS San Fernando Valley sub-market of Van Nuys, CA 7650 Van Nuys Boulevard | Van Nuys, CA 91401 Exclusively Listed By:
Brandon Michaels Matthew Luchs Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group COO of The Brandon Michaels Group Tel: 818.212.2794 Tel: 818.212.2727 [email protected] [email protected] CA License: 01434685 CA License: 01948233 www. BrandonMichaelsGroup .com www. BrandonMichaelsGroup .com
2 04 14 32 42 Executive Property Area Financial Summary Overview Overview Analysis
CONTENTS 3 LAKE BALBOA VAN NUYS AIRPORT
SAN DIEGO FREEWAY WOODLEY PARK 214,000 VEHICLES PER DAY
SEPULVEDA BLVD
6500 sepULveda development
ORANGE LINE BUSWAY
VICTORY BOULEVARD 34,323 VEHICLES PER DAY
FRIAR ST
SYLVAN ST
ERWIN ST
DELANO ST
OXNARD ST VAN NUYS PLAZA DEVELOPMENT
4 NORTH HILLS
SHERMAN WAY
VANOWEN ST
VICTORY BOULEVARD 34,323 VEHICLES PER DAY
6600 sepULveda development
VAN NUYS BOULEVARD 30,870 VEHICLES PER DAY
Executive Summary 5 VAN NUYS HIGH SCHOOL
6 VAN NUYS BOULEVARD
30,870 VEHICLES PER DAY
VICTORY BOULEVARD OVER 34,000 VEHICLES PER DAY Executive Summary 7 EXECUTIVE SUMMARY
A 124-unit RTI Multi-Family development site ideally located in a Tier 3 TOC along Van Nuys Boulevard amongst a sea of new development in the densely populated East San Fernando Valley sub-market of Van Nuys, CA
8 The Offering
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively represent for sale 7650 Van Nuys Boulevard, a 124-unit RTI multifamily development site located on Van Nuys Boulevard, just north of Saticoy Street and south of Roscoe Boulevard in the densely populated East San Fernando Valley sub-market of Van Nuys, CA.
The 30,155 square foot lot features 190 feet project will be highly amenitized, featuring of frontage along Van Nuys Boulevard, a a 515 square foot fitness center, 636 square main north/south thoroughfare through the foot media room, 117 square foot office, 666 San Fernando Valley. The property is zoned square foot recreation room, a pool, spa, and C2-1VL and ideally located directly adjacent roof deck. to the Van Nuys Metrolink station within a Tier 3 TOC (Transit Oriented Community). The property currently features a 12,820 The well-located East San Fernando Valley square foot multi-tenant retail building. The development site offers direct access to property features three units, two of which the Interstate 405 San Diego Freeway and are 2,000 square feet, and one of which is is centrally located within the burgeoning 8,820 square feet. The two 2,000 square foot Van Nuys sub-market, which currently has units are vacant, and the 8,820 square foot over 1,100 under construction or recently unit is leased on a month-to-month basis to constructed residential units. a furniture store, currently paying $14,994 per month. 7650 Van Nuys Boulevard is a fully entitled, RTI development site that features a six 7650 Van Nuys Boulevard is surrounded by story, 124 multifamily units consisting of 8 national retailers and located along the 9.2- studio units, 103 one-bedroom units, and 13 mile East San Fernando Valley Light Rail Transit two-bedroom units. Of the 124 units, there Project. The subject property is located two are a total of thirteen affordable units. The blocks south of The Plant Shopping Center, proposed project is a six story, Type IIIA a 360,000 square foot Home Depot anchored construction over a one story of Type IA shopping center occupied by Blaze Pizza, on grade parking garage, and one level of In-N-Out Burger, 7-Eleven, Burlington, Sally subterranean parking. The project is slated for Beauty, Five Below, Old Navy, and Ross Dress 155,528 gross buildable square feet, including for Less. The property is also within walking 18,097 square feet of on grade parking, and distance to Living Spaces, Smart & Final, 26,011 square feet of subterranean level. The Carl’s Jr, McDonald’s, and Burger King.
Executive Summary 9 investment highlights
PRIME EAST SAN FERNANDO VALLEY SIGNALIZED CORNER LOCATION • 124-unit RTI multifamily development site located on Van Nuys Boulevard north of Saticoy Street • 30,155 square foot lot featuring 190 feet of frontage zoned C2-1VL ideally located within a Tier 3 TOC • The project features 124 multifamily units (13 of which are affordable units): 8 studio units, 103 one-bedroom units, and 13 two-bedroom units • The project is slated for 155,528 gross buildable square feet, including 18,097 square feet of on grade parking, and 26,011 square feet of subterranean level • The highly amenitized project will include a 515 square foot fitness center, 636 square foot media room, 117 square foot office, 666 square foot recreation room, a pool, spa, and roof deck STRONG LOCATION ALONG THE EAST SAN FERNANDO VALLEY LIGHT RAIL TRANSIT PROJECT • Ideally located directly adjacent to the Van Nuys Metrolink VAN NUYS AIRPORT Station • Centralized East San Fernando Valley location just north of Saticoy Street and south of Roscoe Boulevard • Direct freeway access to the Interstate 405 San Diego Freeway • The property features a Walk Score® of 76, making this a very walkable location • The subject property is located two blocks south of The Plant Shopping Center, a 360,000 square foot shopping center occupied by ample tenants such as Blaze Pizza, In-N-Out Burger, 7-Eleven, Burlington, Sally Beauty, Five Below, The Home Depot, Old Navy, and Ross Dress for Less and is within walking distance to Living Spaces, Smart & Final, Carl’s Jr, McDonald’s, and Burger King 10 investment highlights
DEVELOPMENT OPPORTUNITY IN A WALKABLE LOCATION • Significant development in the immediate area, with over 1,100 units currently under construction or recently completed • The Light Rail Project is slated to be a 9.2- mile project connecting the Van Nuys Metro “G” (Orange) Line Station with the Sylmar/San Fernando Metrolink Station • The project will make ease of transportation throughout the East San Fernando Valley easy, with an end-to-end travel time of 31 minutes • The project will officially begin major construction in 2022 and is scheduled to open by EAST SAN FERNANDO VALLEY LIGHT RAIL TRANSIT PROJECT 2028 • Daily boardings are projected to exceed 30,000 by 2040 6500 VAN NUYS BLVD RECENT DEVELOPMENT
DENSE UNDERLYING DEMOGRAPHICS
• There are 358,345 people located within three miles of the property
• There are 104,816 households located within three miles of the property
• Average household income is $91,253 within five miles of the property
Executive Summary 11 SURROUNDING AREA RETAIL 1. Mission Foods 14 13 8 2. U-Haul 3. PODS Moving & Storage 12 11 4. Living Space 15 5. The Home Depot 9 6. Old Navy 16 PetSmart 10 74 Five Below 7. Regency Theatre 17 8. Ross - Dress for Less 9. Burlington 6 10. Union Bank 7 9 8 3 11. dd’s DISCOUNTS 5 Ross - Dress for Less 6 24 Fitness 4 12. Rite Aids 18 3 2 5 Chase Bank 2 Dollar Tree 13. Pep Boys 19 14. Food 4 Less 4 1 15. Walmart 16. ALDI 17. Goodwill 18. Speakeasy Fitness 19. Smart & Final RESTAURANTS 1
1. Mission Foods 7639 VAN NUYS BLVD DEVELOPMENT 2. U-Haul 3. PODS Moving & Storage 4. Living Space 5. The Home Depot 6. Old Navy 7. Regency Theatre 8. Ross - Dress for Less 9. Burlington
VAN NUYS BOULEVARD
30,870 VEHICLES PER DAY
12 property summary
Address 7650 Van Nuys Boulevard Van Nuys, CA 91401
Price $8,000,000
Project Status Ready To Issue Permits (RTI)
Land SF 30,156 SF
Price Per Land SF $265
Total Residential Units 124 Units
Price Per Buildable Unit $64,516
Market-Rate Units 111 Units
Affordable Units 13 Units
Price Per Buildable $72,072 Market Rate Unit
Proposed Building SF 155,528 SF
Proposed Stories 6 Stories
125 Vehicle Parking Spaces Proposed Parking Spaces 90 Bicycle Parking spaces
APN Number 2215-028-018
TOC Tier 3
Zoning C2-1VL
Executive Summary 13 PROPERTY OVERVIEW
14 VAN NUYS AIRPORT property description PROPERTY OVERVIEW LOCATION 7650 Van Nuys Boulevard Van Nuys, CA 91401
SITE The subject property is located near the intersection of Van Nuys Boulevard and Saticoy Street.
LOT SIZE 30,156 SF
FRONTAGE 90’ on Van Nuys Boulevard
APN NUMBER 2215-028-018
ZONING OVER 38,000 VEHICLES PER DAY KESWICK ST C2-1VL VAN NUYS BLVD
TOC Tier 3
Property Overview 15 City of Los Angeles ZIMASproject PUBLIC summaryGeneralized Zoning 08/11/2021 Department of City Planning
Project Description Proposed 124-unit Apartment 5-Stories Type IIIA R-2 Occupancy o/ 1-Story Type IA S-2 Parking Garage o/ Subterranean Basement Type IA Garage
Site Address 7650 Van Nuys Blvd, Van Nuys, CA 91405
APN 2215028018
Zoning C2-1VL
Lot Area 30,155.6 sq. ft.
Address: 7650 N VAN NUYS BLVD Tract: TR 23920 Zoning: C2-1VL 1/2 Alley 1,900 sq. ft. APN: 2215028018 Block: None General Plan: General Commercial PIN #: 186B149 60 Lot: 5 Arb: None Net Area 32,055.6 sq. ft. 1 unit/ 400 sq. ft. (32,055.6 / 400) Allowable Density 80.1 units by-right 138 units with TOC Tier 3
Proposed Density 124 units
Proposed F.A.R. 3.15 : 1 (95,025/ 30,155.6)
16 proposed site plan GROSS SQUARE FOOTAGE BREAKDOWN Total Basement SF 26,011
Total 1st Story SF 23,268
Total 2nd Story SF 24,255
Total 3rd Story SF 19,826
Total 4th Story SF 19,826
Total 5th Story SF 19,826
Total 6th Story SF 19,711
Total Gross SF (Apartments) 81,648
UNIT MIX
1-Bed/ 1-Bath 103 Units
2-Bed/ 2-Bath 13 Units
Studio 8 Units
PARKING
Accessible (9’ x 18’) w/ 8’-0” Van Loading 2 Accessible (9’ x 18’) w/ Shared Loading 1 Compact (7’-6” x 15’-0”) 14 Compact (7’-6” x 18’-0”) 5 Compact (8’-6” x 15’-0”) 43 Standard (8’-6” x 18’-0”) 54 Standard EV stall (9’ x 18’) 4 Standard EV stall (9’-4” x 18’) 1 Standard EV stall (9’-6” x 18’) 1
Total 125 Property Overview 17 EAST ELEVATION RENDERING SOUTH ELEVATION RENDERING
18 basement garage BASEMENT SF
Elevator 148
Stair 651
Vestibule 149
Driveway Ramp 1,346
Equipment 663
Mechanical 428
Parking Garage 22,626
Total Basement SF 26,011
PLANS
Property Overview 19 1st story 1ST STORY SF
Fitness Room 515
Lobby 13
Mail Room 171
Media Room 636
Office 117
Recreation Room 666
Elevator 146
Lobby - B 829
Stair 780
Vestibule 77
Bike Parking 346
DAS 25
Electrical Room 406
Parking Garage 18,097
Pool Equipment 165
Storage 57
Trash Room 222
Total 1st Story SF 23,268
PLANS
20 2nd story 2nd Story SF
Court Yard 4,078
Pool 392
Spa 63
Corridor 2,252
Elevator 149
Stair 663
Apartments 16,512
Vestibule 146
Total 2nd Story SF 24,255
PLANS
Property Overview 21 3rd story 3rd Story SF
Corridor 2,177
Elevator 149
Stair 663
Trash 54
Apartments 16,637
Vestibule 146
Total 3rd Story SF 19,826
PLANS
22 4th story 4th Story SF
Corridor 2,177
Elevator 149
Stair 663
Trash 54
Apartments 16,637
Vestibule 146
Total 4th Story SF 19,826
PLANS
Property Overview 23 5th story 5th Story SF
Corridor 2,177
Elevator 149
Stair 712
Trash 54
Apartments 16,588
Vestibule 146
Total 5th Story SF 19,826
PLANS
24 6th story 6th Story SF
Common Deck 1,385
Corridor 2,062
Elevator 149
Stair 624
Trash 54
Apartments 15,274
Vestibule 163
Total 6th Story SF 19,711
PLANS
Property Overview 25 roof plan
26 exterior elevations
Property Overview 27 unit plan
28 Property Overview 29 unit plan
30 Property Overview 31 VAN NUYS CITY HALL area overview
VAN NUYS AIRPORT
PRIMEvan nuys, CA Location 7650 Van Nuys Boulevard is 7650 Van Nuys Boulevard is centrally located within the Van Nuys THE PLANT SHOPPING CENTER located within the Van Nuys sub-market, a burgeoning submarket experiencing substantial Submarket which is currently growth and development. There are over 1,100 under-construction undergoing substantial or recently completed residential units. The increase in development changes by way of significant is supplemented by the East San Fernando Valley Light Rail Transit development with over 1,110 Project, a 9.2-mile project planned to connect the Van Nuys Metro residential units currently “G” (Orange) Line Station with the Sylmar/San Fernando Metrolink Station. The project will make ease of transportation throughout the under construction or recently East San Fernando Valley easy, with an end-to-end travel time of 31 completed and the proposed minutes. The project will officially begin major construction in 2022 East San Fernando Valley Light and is scheduled to open by 2028, with daily boardings projected to Rail Line exceed 30,000 by 2040.
32 SEPULVEDA BASIN WOODLAND HILLS WOODLEY PARK WILDLIFE PRESERVE GOLF COURSE
7650 Van Nuys Boulevard is located across the street from 7639 Van Nuys Boulevard, a five- story development project which offers 36 one- and two-bedroom apartments above a partially subterranean parking garage with 52 vehicle parking spaces.
6600 Van Nuys Boulevard is located at the northeast corner of Van Nuys Boulevard and Kittridge Street, one- and one-half miles from 7650 Van Nuys Boulevard. 6600 Van Nuys Boulevard is a five-story 54-unit development project. The project will feature a mix of one- and two-bedroom units above 3,160 square feet of ground-floor retail space, in addition to subterranean parking for 76 vehicles. The project will feature amenities for its residents such as outdoor decks and a community room.
The Alexan NoHo West development project is located less than 3.5 miles from the subject property. The project replaces the Laurel Plaza Shopping Mall in North Hollywood, it will be comprised of two buildings featuring 644 total residential units. The unit mix features studios, one-, and two-bedroom units. The complex features extensive retail and office space, with 190,000 square feet of retail and restaurant space, 500,000 square feet of office space, and a 2,600-car parking garage. Several national tenants have already been announced for the property, including Trader Joe’s, Starbucks, See’s candies, Robeks, and 24- Hour Fitness.
Less than one mile from the subject property, at Van Nuys Boulevard and Vose Street, is a proposed six-story, 322-unit multifamily development project. The project would also feature over 4,000 square feet of ground-floor retail space and at-grade parking for 184 cars. Three courtyard decks would supplement the interior amenity space and two rooftop decks.
Approximately two miles from the subject property is a proposed development at 14557 Friar Street, the project would feature a seven-story building with 42 studio, one-, and two-bedroom apartments above 1,038 square feet of ground-floor retail space and semi-subterranean parking for 42 vehicles. The project would replace an existing commercial building located on a quarter acre lot.
Less than three miles from the subject property is the newly completed development, V on Victory, at 13724 Victory Boulevard. The five-story project replaces a used car dealership with 67 one-, two- , and three-bedroom apartments above 2,100 square feet of ground-floor retail and parking for 80 vehicles. The building features community amenities such as a resident’s lounge, fitness center, and a rooftop deck patio. Area Overview 33 LAKE BALBOA 3.6 Miles from the Subject Property
CLOSE PROXIMITY TO POPULAR NEIGHBORHOODS
As one of the most popular neighborhoods in the San Fernando Valley, Van Nuys gives you a large variety of housing options, diverse dining, shopping venues and vibrant outdoors.
ENCINO 6.5 Miles from the Subject Property STUDIO CITY 7.6 Miles from the Subject Property
SHERMAN OAKS 3.1 Miles from the Subject Property
34 SEPULVEDA BASIN 3.8 Miles from the Subject Property
Area Overview 35 This new LRT project will provide connections to key destinations and greater opportunities for transit users to connect to the growing transit network in the San Fernando Valley.
EAST SAN FERNANDO LIGHT RAIL TRANSIT PROJECT The alignment will include 14 at-grade stations with an end-to-end been identified for the project, most coming from local Measure M, travel time of 31 minutes, and daily boardings that are anticipated to Measure R and State gas tax funds. Once in place, light rail trains will exceed 30,000 by the year 2040. Currently, buses operating on Van operate in the median of Van Nuys Blvd for 6.7 miles to San Fernando Nuys Blvd are the second busiest in the Valley (second only to the Road. From San Fernando Road, the trains will transition onto the Metro G Line { Orange } ) and the seventh highest in the Metro system. existing railroad right-of-way adjacent to San Fernando Road, which Stations will be strategically located near Metro Local and Rapid east/ it will share with Metrolink for 2.5 miles to the Sylmar/San Fernando west bus service to enable convenient connections. Metrolink Station.
In June 2018, Metro’s Board of Directors chose Light Rail Transit (LRT) In August 2019, Metro awarded, Gannett Fleming, a contract to as the preferred alternative for the East San Fernando Valley Transit provide engineering design and oversight services for the ESFVTC Corridor Project (Project). Once opened, this LRT Project will extend project. Metro will begin the procurement process for a Design Build north from the Van Nuys Metro G Line (Orange) station, to the Sylmar/ contract in 2021 as well as initiate Right-of-Way acquisitions and Utility San Fernando Metrolink Station, a total of 9.2 miles. $1.3 billion has Relocations.
36 THE PLANT SHOPPING CENTER
The Plant stands as an iconic power center in densely populated Panorama City, California. The former site of a GM automotive plant, the property was redeveloped in 1999 to include approximately 360,000 square feet of improvements, including a 16-screen Regency theatre and a Home Depot home improvement store. Other tenants include: Babies R Us, Ross, and Party City. The property is also home to In-N-Out Burger, Starbucks, Chipotle, Blaze Pizza, Petsmart, G Stage and FedEx.
PANORAMA MALL
Located in the Northeast San Fernando Valley at the busy intersection of Roscoe and Van Nuys Boulevards, Panorama Mall offers a variety of shops and restaurants for your entire family. From anchors Walmart and Curacao to The Children’s Place, Aeropostale and Finish Line, you’ll find it under one roof. Follow us on Facebook and keep visiting our website for the latest news on upcoming events and specials.
Area Overview 37 NEARBY DEVELOPMENTS
6600 Van Nuys Blvd Development Alexan NoHo West Development A five-story 54-unit development project. The project replaces the Laure Plaza The project will feature a mix of one- and Shopping Mall in North Hollywood. It will two-bedroom units above 3,160 square feet be comprised of two buildings featuring 644 of ground-floor retail space, in addition to total residential units. The unit mix features subterranean parking for 76 vehicles. The studios, one-, and two-bedroom units. The project will feature amenities for its residents complex features extensive retail and office such as outdoor decks and a community space. room.
13724 Victory Blvd Development 7639 Van Nuys Blvd Development The project, which replaces a used car dealership The project, located at 7639 Van Nuys at 13724 Victory Boulevard, will consist of a Boulevard, consists of a five-story building five-story structure containing 67 one-, two-, and which will offer 36 one- and two-bedroom three-bedroom apartments atop 2,100 square feet apartments - including four affordable units of ground-floor commercial space and an 80-car - above a partially subterranean parking garage. Five of the apartments will be set aside garage with 52 vehicle stalls. for low and very low-income renters in exchange for density bonus incentives.
38 DEVELOPMENT MAP & PIPELINE
Development Pipeline Map
Subject Property
Under Construction
Recently Completed
4 7 3 6 5 2 1
PROPERTY NAME DEVELOPER UNITS STORIES START YEAR FINISH YEAR
1 12444 West Chandler Boulevard 12444 W Chandler Blvd, Valley Village, CA 91607 Chandler Village LLC 70 5 2019 2021
2 13724 Victory Boulevard 13724 Victory Blvd, Van Nuys, CA 91401 67 5 2019 2021
3 6600 Van Nuys Boulevard 6600 Van Nuys Blvd, Van Nuys, CA 91405 54 5 2019 2021
4 7639 Van Nuys Boulevard 7639 Van Nuys Blvd, Van Nuys, CA 91405 36 5 2018 2021
5 Alexan NoHo West 11950 Erwin St, North Hollywood, CA 91606 Trammell Crow Residential 644 7 2019 2021
6 IMT 6500 6500 Sepulveda Blvd, Van Nuys, CA 91411 IMT Capital 160 6 2017 2020
7 MODERNO NOHO West 7401 Lankershim Blvd, North Hollywood, CA 91605 108 5 2019 2021 TOTAL 1,139 38 - -
Area Overview 39 VAN NUYS DEMOGRAPHICS
MEDIAN AGE VAN NUYS TOTAL POPULATION 35 50% 50% 113,564 MALE FEMALE
EDUCATION
24% 26% High School Some Ccollege or Bachelor’s16% Degree Master’s6% Degree Associate’s Degree or Higher
40 DEMOGRAPHICS BY RADIUS 1-MILE 3-MILE 5-MILE
2021 Population 41,301 334,325 736,456
2021 Households 13,414 104,816 241,827
2021 Average Household $91,253 736,456 3.4 3.3 3.1 Average HH income Population Size within a 3-mile radius within a 5-mile radius Annual Growth 2021-2026 0.2% 0% -0.1%
2021 Median Age 34.4 35 36.3
2021 Owner Occupied 3,994 38,280 101,933 101,933 138,985 Households Owner Occupied Housing Renter Occupied Housing 2021 Renter Occupied within a 5-mile radius within 5-mile radius 9,559 66,613 138,985 Households
2021 Average Household $67,795 $76,998 $91,253 Income
2021 Median Household $47,777 $56,572 $66,676 241,827 34,929 Income Households Businesses Businesses 1,890 13,163 34,929 within a 5-mile radius within a 5-mile radius
Property Overview 41 FINANCIAL ANALYSIS
42 rent roll
TENANT UNIT # SF SF% LEASE EXPIRATION TERM REMAINING (YEARS) CURRENT RENT CURRENT RENT/SF
VACANT 7646 2,000 15.6% VACANT 7648 2,000 15.6% Today's Furniture 7650-7662 8,820 68.8% MTM MTM $14,994.00 $1.70 Total 12,820 100.0% $14,994.00 $1.70
OCCUPANCY Occupied SF 8,820 69% Vacant SF 4,000 31% annualized OPERATING DATA
INCOME AND EXPENSE CURRENT EXPENSE BREAKDOWN PER YEAR PER SF Scheduled Lease Income $179,928 Property Taxes $100,000 $7.80 Effective Gross Income $179,928 Insurance $15,112 $1.18 Expenses $127,237 Utilities $1,614 $0.13 Net Operating Income $52,691 Trash Removal $6,010 $0.47 Landscaping $1,000 $0.08 Security Services $188 $0.01 Repairs & Maintenance $3,313 $0.26 TOTAL $127,237 $9.92 / $0.83
Area Overview 43 CONFIDENTIALITY AND DISCLAIMER The 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.
SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.
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