Luxury Loft Waterfront Living
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LUXURY LOFT WATERFRONT LIVING 341 UNITS ICONIC BUILDING WITH CAMDEN WATERFRONT | SOUTHERN NEW JERSEY INCREDIBLE HISTORY URBAN, TRANSIT ORIENTED ASSET UNPARALLELED PANORAMIC VIEWS OF THE PHILADELPHIA SKYLINE AND BEN FRANKLIN BRIDGE A CBRE Multifamily Investment Opportunity VICTOR AND THEIR TRADE MARK Head of the company’s advertising, sales, and recording at that time, Mr. Leon Forrest Douglas derived the 1901 name “Victor” from his wife’s name, Victoria. The brand name “Victor” was registered in Washington on March 12, 1901. Eldridge R. Johnson founded the Victor Talking Machine The painting, “His Master’s Voice,” by Francis Barraud, depicts a little fox Company, specializing in terrier, “Nipper” and a phonograph. One day, the artist found Nipper with manufacturing phonographs his head cocked, listening to a phonograph record. The artist wondered and phonograph records. if the dog might not think that he was listening to his deceased master’s voice. So he painted the picture and called it, “His Master’s Voice.” 1929-1937 1906 The Victor Talking Machine Company was purchased by the With the intention to produce a Radio Corporation of America (RCA). The merged company phonograph that looked more like furniture became “RCA Victor” and quickly made Camden a leading to go with the decor of homes, Johnson and center in the new broadcast medium. Along with record his engineers designed a new line. players, the waterfront RCA-Victor complex became the world’s The product was named Victrola, largest manufacturers of radio sets. with the turntable and amplifying horn tucked away inside a RCA’s Camden facilities, RCA Victor Company Building 17 wooden cabinet. Camden Plant, played a major role in the development of the technology that would eclipse radio as the most revolutionary medium: television. After World War II, Camden became a major world center for the manufacturing of both consumer TV sets and the equipment needed to operate TV broadcast studios. This technology powered the first television broadcast in 1937. 1909-1916 2002-2004 The headquarters of the Victor Talking Machine Company was 1986 the Victor building, affectionately called the Nipper building. As GE purchased RCA Victor, which had begun to Dranoff purchases the “The Nipper Building” placing it business was exploding, the company’s footprint quickly grew develop aerospace technology in the 1960’s. Neil on the National Register of Historic Places and begins into a 51 acre sprawling industrial complex, constructed from Armstrong, the first man on the moon, wore an RCA an adaptive reuse into luxury loft apartments, retail 1909 to 1916 by the architecture firm of Ballinger and Perrot. backpack to transmit pictures back to earth. The and parking. Completed in 2004, “The Victor Lofts” The beacon of the complex was the tower emblazoned with the aerospace space division of GE was sold to a new becomes the centerpiece of the Camden Waterfront’s Nipper trademark depicted in stained glass on all four sides. This company, L3 Communications in the late 80’s. RCA revival and a symbol of the rebirth of The City. With tower served as a landmark for the city of Camden. Building number 17 became vacant and was “moth its’ majestic red brick tower and iconic stained glass balled” in 1992. depiction of “Nipper” it maintains the character and Source: www.historiccamdencounty.com history of among the most important historic rehabs ever http://en.wikipedia.org/wiki/Victor_Talking_Machine_Company undertaken in North America. 2 A Rare Opportunity LUXURY LOFT WATERFRONT LIVING 341 24,141SF Gated Resort OFFERING LUXURY RESIDENCES GROUND FLOOR RETAIL COVERED PARKING STYLE AMENITIES HIGHLIGHTS On behalf of Ownership, CBRE, Inc. is pleased by 24,141 SF of on-site retail that features “Victor’s to present the extraordinary opportunity to acquire Pub” - a full service restaurant and bar and five other PROPERTY NAME The Victor Lofts, (“The Victor,” “the Property”), a convenience stores including a Susquehanna Bank The Victor Lofts luxury residential rental community consisting of 341 branch, food market and pizzeria. apartment homes strategically located on the Camden PROPERTY ADDRESS waterfront in Southern New Jersey, directly across Situated on a prominent waterfront perch, the Victor One Market Street the Delaware River from Center City Philadelphia. dominates the skyline with its irreplaceable location Camden, NJ 08102 The Victor was developed as an adaptive re-use and its proximity to employment, retail, entertainment, NUMBER OF UNITS of the historically famous RCA Victor phonograph culture and transportation makes it dynamic. The 341 manufacturing plant and was gut-rehabbed in 2002- Property is within walking distance of the Camden 2004. The Property features spectacular loft style Riversharks Baseball Stadium, The NJ Adventure YEAR RENOVATED apartments in an architecturally significant and historic Aquarium, the Battleship New Jersey, the Susquehanna 2004 building. The Victor offers sweeping views of the Bank Center and Wiggins Park, in addition to the Philadelphia skyline, hotel-style amenities, on-site retail, abundant and diverse on-site retail. Some of the AVERAGE UNIT SIZE garage parking, as well as unmatched access to mass Philadelphia region’s largest employers are within 1 1,045 SF transit and the highway network via the PATCO High mile of The Victor, including the world headquarters TOTAL PARKING Speed Line, the NJ Transit River LINE and I-676. of Campbell Soup, Cooper Medical Center, L3 90 Garage Spaces Communications, Lourdes Hospital and Rutgers 271 Gated Surface Spaces The Victor Lofts is the only luxury rental community that University-Camden. In total, there are over 10,000 361 Spaces (Ratio of 1.06 per unit) offers unobstructed views of the Philadelphia skyline employees working within a one mile radius of The and Ben Franklin Bridge. Rental rates are significantly Victor that would include Philadelphia. PHYSICAL OCCUPANCY less than rents at comparable Center City Philadelphia (AS OF 8.31.14) properties, giving the Property a substantial price 92% advantage over competitors. Additionally, the In creating The Victor Lofts, Dranoff Properties AVERAGE PROFORMA Victor offers an amenity package that rivals new redefined luxury residential living on the MARKET RENT construction and includes a two-story state-of-the art Delaware River waterfront. Thus, The Victor $1,352 fitness center, a WiFi lounge and business center, represents a rare opportunity to acquire a media room, clubroom, meeting rooms, a lushly Class A asset in an outstanding location with PROFORMA NOI (1) landscaped courtyard, three roof decks overlooking the upside potential and long-term value. (AFTER RESERVES) Philadelphia skyline, and gated and covered parking. $3,369,452 The outstanding amenity package is complimented (1) EXCLUDES RETAIL TI/LC. 3 • Dramatic 14-20 foot ceilings with expansive “window walls” RESIDENCES • Loft-style units and 2-story duplexes on the 6th floor • 53 Spacious floor plans • 24,141 SF ground floor retail averaging 1,045 SF • Enrico Caruso Clubroom with • Full appliance package – range, catering kitchen built-in microwave, refrigerator, • Private Board Rooms and dishwasher and disposal Media Room • Washer and Dryer in each unit • 10 minute walk to PATCO • 24-hour two-Story Fitness and a spacious large-capacity High-Speed Line with direct AMENITIES Center with Cardiovascular and laundry room on the 6th floor access to Center City Strength Training Equipment and Philadelphia • Unparalleled Views of the Center Yoga Room City Philadelphia Skyline • 3 minute walk to River Line • Three (3) Rooftop Lounges with direct access to Trenton with Panoramic Views of the & New York City Waterfront and Center City • 2 blocks to Campbell’s Philadelphia skyline LIVING Field – home of the Camden • Expansive Internet Café and Riversharks Business Center • 4 blocks to Susquehanna • 90-space parking garage Bank Center entertainment venue • 271-space gated surface parking • 2 blocks to Award Winning NJ Adventure Aquarium • 24-Hour Concierge • 4 blocks to Wiggins Park • Lushly Landscaped Courtyard Garden • On-site restaurant/pub, grocery store/deli, bank, • Hospitality Suite for Visiting pizzeria Guests to Rent 4 Luxury Product with Unmatched Amenities in Southern New Jersey The Victor offers the highest quality product in the Southern New Jersey submarket, with high-end finishes including gourmet kitchens, dramatic 14-20 foot ceilings, large industrial windows and stunning views of the Delaware River and Philadelphia Skyline. The Victor also offers market- leading amenities including a 24/7 concierge, a state-of-the art two-story fitness center, business center, media room, clubroom, a lush courtyard, three roof decks overlooking the Delaware River and the Philadelphia skyline, and covered parking, that are further complimented by the on-site retail amenities. Diverse and Growing Employment Base The Victor is located in the Cooper’s Grant section of Camden along the Delaware River waterfront. The city of Camden has been selected by the New Jersey Economic Development Authority as a Garden State Growth Zone, resulting in significant tax advantages for employers to relocate to Camden. There are plans for a major office development in Camden that is set to be announced in the second half of 2014 that will bring a significant number of employees to Camden. In addition, there are over 10,000 employees working in the immediate area at some of the region’s largest employers, including Cooper University Hospital (5,500