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The Park Retail Condominium @ THE PARK RETAIL CONDOMINIUM @ 100% Leased World-Class NNN Retail Investment Opportunity at the Gateway to Mission Bay EXECUTIVE SUMMARY EXECUTIVE SUMMARY Colliers, as Exclusive Advisor to the Seller, is pleased to present The Park Retail Condominium @ One Mission Bay (the “Property”), a high-profile retail condominium demised into three (3) retail spaces situated on the ground of floor of one of San Francisco’s premier new luxury residential developments, One Mission Bay. McCOVEY COVE Situated at the gateway to Mission Bay and within one block from the 4th & King Caltrain station, the Condominium features frontage along 4th and Channel Streets and Mission Creek, providing outstanding exposure and visibility. TENANT SUMMARY MISSION CREEK UNIT # 1 2 3 SQUARE FEET 3,343 3,629 1,700 CHANNEL ST. LEASE EXP. 12/31/31 1/31/30 8/31/28 OPTIONS 1 x 5 Yr. at FMV 2 x 5 Yr. at FMV 1 x 5 Yr. at 3% Inc. THE OFFERING PRICE $9,200,000 TOTAL SF 8,672 PRICE / SF $1,061 NET OPERATING INCOME (NOI) $460,339 PRO FORMA CAP RATE 5.00% 1 | THE PARK RETAIL CONDOMINIUM @ ONE MISSION BAY INVESTMENT HIGHLIGHTS ■ 100% Leased Trophy Retail Investment Opportunity in One of San Francisco’s Premier Residential Projects ■ High-Profile, Transit-Oriented Location Situated at the Gateway to Mission Bay ■ Adjacent to the City’s Most Exciting Attractions & Developments: Oracle Park, Mission Rock, Uber HQ, Warrior’s Chase Center & UCSF ■ Adjacent to 250-Room, 4-Star Marriott SOMA Mission Bay Hotel With Additional Captive Demand from the 350 Luxury Residences within the One Mission Bay Development ■ 83 San Francisco Giants’ Home Games Played Across the O’Doul Bridge at Oracle Park, as Well as Many Other Events & Concerts ■ 250 Projected Annual Events at the Warriors’ Chase Center ■ NNN Leased Units Provide Stable Cash Flow with Annual Rent Increases & Percentage Rent ■ HOA Managed Investments Result in Limited Management Responsibilities ■ Outstanding Visibility with over 250’ of Frontage Along 4th & Channel Streets & soon to be completed Mission Creek Park 2 | THE PARK RETAIL CONDOMINIUM @ ONE MISSION BAY HIGH-PROFILE, “GATEWAY” MISSION BAY LOCATION CENTRAL SUBWAY T LINE MISSION CREEK MISSION BAY STATS 6,400 4.4M 419k Residential Units Square Feet of Square Feet of Constructed/In Pipeline Office & Life/Science Retail 49+ 30k $9B Acres of Permanent Infrastructure Parks & Open Space Jobs Investment PARK TENANT OVERVIEW Unit # 1 2 3 Address 116 Channel St. 114 Channel St. 112 Channel St. Square Feet 3,343 3,629 1,700 Lease Expiration 12/31/31 1/31/2030 8/31/2028 Starting Rent $50.00 NNN $50.00 NNN $50.00 NNN Annual Increases 3% Fixed Increases Fixed Increases % Rent N/A 5% above Breakpoint 5% above Breakpoint Options 1 x 5 Yr. at FMV 2 x 5 Yr. at FMV 1 x 5 Yr. at 3% Inc. •BLUESTONE SISTER CONCEPT LANE TO FERRY PLAZA WINE MERCHANT & NAPA’S OXBOW CHEESE & WINE MERCHANT • SF WEEKLY “BEST WINE CLUB OF 2016” MISSION BAY WINE & CHEESE 4 | THE PARK RETAIL CONDOMINIUM @ ONE MISSION BAY THE PARK RETAIL CONDOMINIUM @ EXCLUSIVE INVESTMENT ADVISORS TIM MAAS DARREN KUIPER Executive Vice President Vice President 415.288.7863 415.288.7817 [email protected] [email protected] Lic. 00956740 Lic. 01958824 TONY CROSSLEY WILL CLIFF Executive Vice President Vice President 415.288.7807 415.288.7828 [email protected] [email protected] Lic. 00900574 Lic. 01976818 KEVIN MCCLOSKEY Investment Associate 415.510.4720 [email protected] LIC. 02109648 101 2nd St., Fl. 11 San Francisco, CA 94105 T: 415.788.3100 F: 415.433.7844 colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies..
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