125 E Orangethorpe Ave, Anaheim, CA 92801 THE Rock OFFERING MEMORANDUM LISTED BY: CARTER HADLEY ASSOCIATE
[email protected] DIR (949) 662-2260 MOB (949) 293-1274 LIC # 02095908 (CA) ALEXANDER HARROLD VP & SENIOR DIRECTOR
[email protected] DIR (310) 919-5790 MOB (310) 977-1651 LIC # 02009656 (CA) Contents 4 Executive Summary 5 FINANCIAL OVERVIEW 8 TENANT SUMMARY 9 AREA OVERVIEW Executive Summary Investment Summary • Strong Tenant – The Rock serves as a Youth Center and the lease is guaranteed by the International Church of the Foursquare Gospel. Known casually as Foursquare, founded in 1910, headquartered in Los Angeles, has over 8.8 million members with over 90,000 churches across 146 nations. • Invested Tenant/No Options to Renew – The Rock has been operating out of this site for over 15 years, along with operating out of four (4) adjacent buildings on Orangethorpe. With recent heavy tenant capital improvements, and no options to renew the lease, a new landlord has complete control over a favorable lease renewal. • Prime SoCal Location – This property is strategically located in Anaheim within the Industrial submarket on Orangethorpe Ave. (±32,000 VPD) with direct access to the CA-91 less than a mile away boasting an average of ±275,000 vehicles per day. • Anaheim Industrial Market - Orange County’s largest industrial node by far, with over 50 million square feet of space. Anaheim is one of the tightest submarkets in Orange County (2.5%). In response to that rent growth has surged (4.29% Y/Y). • Quality Construction – This 10,500 SF masonry facility was built in 1957 with a recent renovation of the entire property (2017) including the tenant paying for a new roof/paint/new tenant buildout.