Pleasant Plaza
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PLEASANT PLAZA 155 E. PLEASANT VALLEY ROAD ▪ OXNARD, CA 93033 Jason Flashman (310) 774-3787 DRE: 01841976 ADDRESS 155 E. Pleasant Valley Road CITY STATE Oxnard, CA 93033 CURRENT USE Multi-tenant retail RENTABLE SF 4,130 LOT SIZE 18,252 PARKING 28 Parking Spaces PARCEL 222-0-121-275 PLEASANT PLAZA PLEASANT PLAZA :: OFFERING MEMORANDUM 2 PRICE • $2,650,000 BASE RENT • $9,883.12 • April 1, 2019 $9,883.12 • April 1, 2021 $10,278.44 • April 1, 2023 $10,689.58 • April 1, 2025 $11,117.16 BASE RENT • February 1, 2028 4% increase from prior month • February 1, 2030 4% increase from prior month • February 1, 2032 4% increase from prior month • February 1, 2034 4% increase from prior month CAM CHARGES Property Taxes $6,734.14 Property Insurance $3,465.53 Property Management $150/Quarter = $600/Year ▪ Wine and Beer license grandfathered to property Total $10,799.67 ▪ Tenants have been there for a long time Monthly CAM added to $899.97 ▪ Base Rent Tenant has first right of refusal ▪ South Central Oxnard location ▪ Dense infill area ▪ High traffic counts ▪ Excellent on-site parking with ingress/egress N Naval CBC Port Hueneme Green Jr High Hueneme High School Tres Sierras La Michoacana Farmacia Estrella Terry’s Donuts Tobacco Shop Arco PLEASANT PLAZA PLEASANT PLAZA :: OFFERING MEMORANDUM 5 PLEASANT PLAZA 7 N Aluminum Precision BMW North America Arcturus Manufacturing Channel Islands Logistics Oxnard is a seaside city west of Los Angeles, in California. Its central Carnegie Art Museum displays contemporary California art in a former library, built in 1906. Nearby, early-1900s homes dot Heritage Square. On the Pacific Coast, Oxnard Beach Park has a wide, sandy shoreline and a grassy lawn, with picnic tables and views of Channel Islands The city's primary development lies along Highway 101 and the other National Park and the Channel Islands National Marine Sanctuary. In main roads. The Henry T. Oxnard Historic District is a 70-acre (28 ha) 2020, Oxnard was chosen as the site of a new Amazon fulfillment historic district that was listed on the National Register of Historic Places center. The center will be located just off the 101 freeway between Rice in Oxnard. Covering approximately F and G Sts., between Palm and 5th Avenue and Del Norte Boulevard, bringing 1,500 new jobs to the local Sts., in the city, the district includes 139 contributing buildings and includes homes mostly built before 1925. It contains Craftsman and economy. Revival architecture in abundance. Ormond Beach is a beach along the Oxnard coast. The beach, which stretches for two miles, adjoins the Oxnard is a combination of neighborhoods, and urban development Ormond Wetlands, some farmland, and power plant remains. It covers focused on the downtown, coastline, and harbor areas. The city's main the area in between Points Hueneme and Mugu and is a well-known land uses are industrial, residential, commercial, and open space. The birding area. The beach historically contained marshes, salt flat, city is characterized by one and two-story buildings, the only exception sloughs, and lagoons, but surrounding agriculture and industry have being several high rises in the northern part of the city. The city is drained, filled, and degraded the beach and wetlands. However, there surrounded by agricultural land and the Pacific Ocean, as well as the is still a dune-transition zone-marsh system along much of the beach. Santa Clara River. PLEASANT PLAZA :: OFFERING MEMORANDUM 9 EMPLOYER # OF EMPLOYEES St. John’s Regional Medical Center 1,994 Oxnard Union High School 1,500 1,210,765 11.5% $74,011 AREA POPULATION HOUSEHOLD SIZE MEDIAN AGE Waterway Plastics 1,300 City of Oxnard 1,167 Haas Automation 996 Oxnard Transit Ctr Union Pac Railroad Oxnard Transit Ctr 201 E 4th St 273 E 5th St 201 E 4th St Aluminum Precision Products 700 Oxnard is accessible to major markets, with its transportation infrastructure constantly improving to meet the needs of a growing community. Transportation in and around Oxnard is easy due to its central location near several major Other major employers include Naval Base Ventura California Highways and the Oxnard Transportation Center, the city’s hub for rail and bus service, including both Amtrak’s intercity trains and Metrolink commuter County, Boskovich Farms, PTI Technologies, Procter & trains to the San Fernando Valley and Los Angeles areas. Gamble, Seminis, Spatz Laboratories, and Gills Onions. Goods movement is by highway, rail and port. Highway 101, one of the state’s Some of the major companies headquartered in Oxnard major north-south freeways, passes through the center of Oxnard; it is the lead are Haas Automation, Seminis, Raypak, Drum Workshop, pathway of commercial truck lines, contract carriers and non-commercial vehicles. Twenty-seven miles east of Oxnard, Highway 126 connects with Interstate 5, Borla Performance, Boss Audio, Seed Beauty, and providing access to the state’s only continuous north-south interstate route. Robbins Auto Tops Procter & Gamble and Sysco California’s Route 1 takes travelers on the scenic roadway along the coast. Union Pacific Railroad connects Oxnard to all major west coast destinations and markets. maintain their West Coast operations in Oxnard. The Port of Hueneme, the only deep water port between the San Francisco Bay Area and Los Angeles, facilitates the movement of products such as fresh fruit and produce, and automobiles and heavy equipment, and is a major international trade resource for businesses. Inglis Pet Hotel AmeriGas Propane Solar Xpertz Target Ulta Beauty Central Park Home Depot Oxnard Levity Live Boot Barn BJ’s Restaurant Walmart Yard House River Ridge Golf Course Planet Fitness Sam’s Club Costco McGrath State Beach Lowe’s Best Buy St. John’s Regional Medical RESTAURANTS Lalo’s SHOPPING Oxnard Mitsubishi Oxnard Airport SERVICES Panaderia Vanessa Dominick’s Italian Mandalay State Beach Casa Lopez Mexican The Murphy Auto Museum Red Tandem Brewery Cabo Seafood Grill Plaza Stadium Cinemas Channel Islands Shores Carnegie Art Museum CVS Mullin Automotive Museum Embassy Suites Oxnard State Beach CenterPoint Mall I Love Pho California Strawberry Festival Hollywood Beach Cafe Ralphs Channel Pointe Plaza Maritime Museum 7 Eleven Silver Strand State Beach Best Breakfast Beachcomber Tavern Port Hueneme Lighthouse Hueneme Beach New-Indy Containerboard BMW of North America Surfside Seafood Ormond Beach Ormond Beach South Naval Base Ventura County (NBVC) is strategically located in a non-encroached coastal area of Southern California. NBVC is the largest employer and the largest industry in Ventura County. NBVC and its tenants directly employ more than 17,000 personnel (military and civilian) workers. It is a key element in the • Point Mugu Department of Defense infrastructure because of its superior geographical location. It provides a valuable contribution to the readiness of the Department • Port Hueneme of Defense’s total force, including development and testing of new systems, joint warfare experimentation, training and readiness, and Homeland Defense. • San Nicolas Island NBVC activities support the Department of Defense's joint missions. The • 17,000 personnel location provides valuable airfield, seaport, railhead, and base facilities in support of multiple tenant operations by all branches of the military, including • 1.2 Billion Economy the Reserve and Air National Guard. NBVC is composed of three operating facilities – Point Mugu, Port Hueneme and San Nicolas Island – that were consolidated to serve as the home to six major tenant commands. NBVC has an economic impact exceeding $2.1 billion. All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW PLEASANT PLAZA Commercial does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy JASON FLASHMAN factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or (310) 774-3787 tax attorney.