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Single-Tenant, Nnn-Leased Investment Opportunity $14,500,000 | $397 Psf | 5.75% Cap

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Single-Tenant, Nnn-Leased Investment Opportunity $14,500,000 | $397 Psf | 5.75% Cap SINGLE-TENANT, NNN-LEASED INVESTMENT OPPORTUNITY $14,500,000 | $397 PSF | 5.75% CAP EAST KATELLA AVENUE ANAHEIM, CALIFORNIA EXECUTIVE SUMMARY JULY 2019 EAST KATELLA AVENUE ANAHEIM, CALIFORNIA THE OFFERING Newmark Knight Frank (NKF), as exclusive advisor, is pleased to present the excellent opportunity to acquire 2095 East Katella Avenue (the Property). The Property is a 100%-leased, two-story, single-tenant building, totaling ±36,500 rentable square feet. 2095 East Katella Avenue offers a stable and secure investment opportunity with high-quality tenancy. Developed in 2000 and extensively renovated in 2014, the building totals 36,500 rentable square feet and is currently 100% leased to Saddleback Valley Community Church until February of 2025. The Property sits on a single parcel totaling ±1.997 acres. Parking is provided by both abundant surface and structured parking at a ratio of ±4.97/1,000 rentable square feet. The tenant has easy access to the Orange (SR-57), Garden Grove (SR-22) and Santa Ana (I-5) Freeways, providing convenient commutes to all of the Southern California basin. The Property is proximate to numerous amenities within Stadium Crossings Retail Center including Starbucks, Carl’s Jr., Panda Express, TOGO’s, Denny’s and Fresca’s Mexican Grill. Additionally, the Property resides across East Katella Avenue from Angel Stadium and City National Grove of Anaheim as well as an abundance of new residential units either recently completed or currently under construction. The Property presents an outstanding opportunity to purchase a stable, high- yielding asset with high-quality tenancy in a supply constrained submarket that is poised for significant growth. QUOTATION” OFFERING SUMMARY FEE SIMPLE $14,500,000 INTEREST OFFERED OFFERING PRICE 5.75% $397 CAP RATE PRICE PSF ALL CASH PREFERRED TERMS INVESTMENT HIGHLIGHTS 2095 EAST KATELLA AVENUE IS AN INSTITUTIONAL-QUALITY, SINGLE-TENANT MULTI-PURPOSE BUILDING Institutionally owned and maintained, the two-story, 36,500-rentable-square-foot building was built in 2000 and renovated in 2014. The Property offers high corporate identity along with ample surface and structured parking, as well as ease of access from multiple modes of transportation. 2095 East Katella Avenue is leased to Saddleback Valley Community Church on a triple net basis until February of 2025. SECURE, LONG-TERM, NET-LEASED INCOME STREAM OFFERING STRONG RETURNS The Property is 100% leased to Saddleback Church (www.saddleback.com) through February 2025, providing an investor the stability of a long-term absolute NNN lease with a high-quality, recognized tenant. Additionally, the in-place rent is approximately 13% below market and has low 3% annual increases, providing an investor a stable and predictable cash flow well into the future. The tenant has two, five-year options to renew. HIGHLY IMPROVED BUILD-OUT Saddleback Church invested heavily into their space at 2095 East Katella Avenue. The tenant spent approximately $2,000,000 on updating the space to their specific needs with several large meeting/congregation areas, a child daycare zone, administrative offices and a welcome/ cafeteria area when their lease commenced in 2014. Additionally, 2095 East Katella Avenue provides Saddleback Church the necessary abundant parking and building functionality for a congregation of more than several thousand members at this location. PROPERTY SUMMARY UNPARALLELED RETAIL AND ENTERTAINMENT AMENITIES 2095 East Katella Avenue is proximate 2095 EAST KATELLA AVENUE ANAHEIM, CA 92806 to the best entertainment venues ADDRESS in Orange County such as Angel Stadium (Los Angeles Angels of ±36,500 SF 100% Anaheim), Honda Center (Anaheim Ducks) and the City National Grove TOTAL SIZE OCCUPANCY of Anaheim. The tenant enjoys a wide array of walkable retail and restaurant 2000 ±1.997 ACRES options including Starbucks, Carl’s YEAR BUILT SITE AREA Jr., Panda Express, TOGO’s, Denny’s and Fresca’s Mexican Grill and The ±816 ±4.97/1,000 RSF Catch. The Property is also less than 1.7 miles from The Outlets TOTAL PARKING SPACES TOTAL PARKING RATIO (Per CC&R’s, 2095 East Katella Avenue has access (Per CC&R’s, 2095 East Katella Avenue has access to at Orange—an 806,000-square- to parking on a first come, first served basis during a parking ratio of +/-13.28/1,000 RSF on weekends) foot outdoor dining, shopping and the weekends) entertainment destination that features 2 1 253-531-13 30 restaurants, Lucky Strike Bowling and an AMC 30 movie theater. STORIES ELEVATOR APN DISCOUNT TO REPLACEMENT COST 2095 East Katella Avenue is expected FINANCIAL SUMMARY to trade at a discount to replacement cost, as high construction costs, coupled with supply constraints, $833,740 100% have created significant barriers to IN-PLACE NOI OCCUPANCY competitive development. Estimated replacement cost for 2095 East Katella 1 $1.86 PSF NNN Avenue is approximately $425 per square foot. # OF TENANTS IN-PLACE RENT LOCATION, LOCATION, LOCATION! There are approximately 5,168 residential units under construction or planned in the immediate vicinity of 2095 East Katella Avenue, providing a wide array of high-quality housing options to current and future parishioners. The immediate area—known as the Platinum Triangle—is undergoing a transformation into a vast urban collection of homes, entertainment venues as well as retail and business centers. The 820 acres stretches from the Anaheim Regional Transportation Intermodal Center (ARTIC) to the Santa Ana (I-5) Freeway. Once completed, the area will be home to more than 28,000 people. 57 E Katella Ave 22 5 E Orangewood Ave LT PLATINUM CENTER (MIXED-USE) EXPERIENCE AT GENE AUTRY (1,208 UNITS) EAST KATELLA AVENUE ANAHEIM, CALIFORNIA S State College Blvd A-TOWN METRO (1,346 UNITS) E Katella Ave TENANT SUMMARY Saddleback Church is an evangelical Christian megachurch headquartered in Lake Forest, California, situated in Southern Orange County, and affiliated with the Southern Baptist Convention. The church has several campuses in California and around the world. Weekly church attendance averages more than 22,000 people and the senior pastor is Rick Warren. In 1979, Rick Warren, a theology graduate, settled with his wife Kay in the area of Saddleback Valley in Orange County, California. He began to probe the people in his neighborhood to find out what prevented them from coming to Saddleback Valley Community Church church. The answers that emerged were boredom, distance from everyday life, Website: http://saddleback.com/ lack of welcome for visitors, insistence on money and inadequate programs for children. These concerns led Rick Warren and his wife to start the church out of their condo in 1980 with just seven others in a Bible study group. The first worship service took place in the gymnasium of a high school on Easter Day in 36,500 100% 1980 and, by 2017, the attendance increased to 22,000 people per week. LEASED SF % OF PROPERTY Rick Warren grew Saddleback Church to be the sixth-largest megachurch in the United States (including multi-site churches). He is also a bestselling author of FEB 2025 many Christian books, including his guide to church ministry and evangelism, The Purpose Driven Church, which has spawned a series of conferences on LEASE EXPIRATION Christian ministry and evangelism. His subsequent book, The Purpose Driven Life, was only expected to sell a quarter-million copies but there are now 30 million copies in print, making him a New York Times bestselling author. OTHER NAMES Saddleback Church During the 2008 United States presidential election, Saddleback Church FOUNDED 1980 founder Rick Warren hosted the Civil Forum on the Presidency at the church’s FOUNDERS Rick & Kay Warren headquarters location in Lake Forest with both presidential candidates, John HEADQUARTERS 1 Saddleback Parkway McCain and Barack Obama. Obama later asked Rick Warren to give the Lake Forrest, CA 92630 invocation at the presidential inauguration in January 2008. TOTAL LOCATIONS United States (CA): 14 International: 4 Total: 18 TOTAL WEEKLY ATTENDANCE 22,000 (2017) In 2015, Saddleback Church secured the number one spot on Newsmax’s list of “Top LEASE SUMMARY 50 Megachurches in America”. This award was not only a testament to the church’s local presence and national recognition, but it also cemented Saddleback Church as one of the largest and most recognized Churches in the entire country. With Lake Forest being the Church’s headquarters and “flagship” location, this campus is the SADDLEBACK VALLEY largest and most popular campus of 18 in the world and serves as the focal point for COMMUNITY CHURCH the Church’s global brand. It is mission critical, and as Saddleback Church expands, it will continue to be the model and foundation for which other campuses are built. TENANT Saddleback Church is one of the most successful and financially stable religious institutions in Southern California. Tenant financials will be made available later ±36,500 RSF in the sale process. SIZE 6 YEARS OTHER SADDLEBACK CHURCH LOCATIONS LEASE-TERM REMAINING $1.86/SF NNN RENTAL RATE 3.00% ANNUAL INCREASES EAST KATELLA AVENUE ANAHEIM, CALIFORNIA TWO, 5-YEAR OPTIONS TO EXTEND INVESTMENT SALES CONTACTS SEAN FULP BLAKE BOKOSKY Executive Managing Director Managing Director 310.407.6596 949.608.2094 [email protected] [email protected] CA RE Lic. #01389064 CA RE Lic. #01891944 RYAN PLUMMER MICHAEL SPIEZIA Managing Director Associate 310.407.6570 949.608.2044 [email protected] [email protected] CA RE Lic. #01765854 CA RE Lic. #01983788 EAST KATELLA AVENUE ANAHEIM, CALIFORNIA FINANCING EXPERTS DAVID MILESTONE BRETT GREEN Vice Chairman Senior Managing Director 310.491.2015 310.491.2009 [email protected] [email protected] CA RE Lic. #01515842 CA RE Lic. #01892016 MICHAEL MATCHETT Associate Director 310.491.2072 [email protected] CA RE Lic. #01960206 LOCAL MARKET EXPERT GLENN RUDY Senior Managing Director 949.608.2014 EAST KATELLA AVENUE ANAHEIM, CALIFORNIA [email protected] CA RE Lic.
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