DOWNEY, CA DOWNEY, CA 90241 CA DOWNEY, Firestone Boulevard INVESTMENT ADVISORS
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SOUTHERN CALIFORNIA'S PREMIER SALES TEAM A 20,200 SQUARE FOOT FREESTANDING RETAIL BUILDING AVAILABLE FOR PURCHASE SIGNIFICANTLY BELOW REPLACEMENT COSTS IDEALLY SITUATED ON APPROXIMATELY ONE ACRE OF LAND IN A DENSE URBAN INFILL LOCATION ALONG A HIGH TRAFFIC RETAIL THOROUGHFARE IN DOWNEY, CA DOWNEY, CA 90241 CA DOWNEY, Firestone Boulevard INVESTMENT ADVISORS BRANDON MICHAELS TEAM MEMBERS Senior Managing Director of Investments Sean Brandt Senior Director, National Retail Group Vaughn Brown Tel: (818) 212-2794 Ben Brownstein Fax: (818) 212-2710 Nicole Cottrell [email protected] Andrew Leff License: CA #01434685 Matthew Norona www.BrandonMichaelsGroup.com Steven Schechter Austin Sreden BRANDON MICHAELS 16830 Ventura Blvd. Suite 100, Encino, CA 91436 GROUP www.marcusmillichap.com SOUTHERN CALIFORNIA'S PREMIER SALES TEAM CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance INVESTMENT ADVISORS with State and Federal regulations, the physical condition of the improvements thereon, or the financial con- dition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the informa- tion contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to in- dicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the 1 2 3 unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, PROPERTY OVERVIEW COMPARABLES ANALYSIS AREA OVERVIEW accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.) 2 3 01 PROPERTY OVERVIEW DOWNEY CIVIC CENTER FULTON WELLS McDonald's FIRESTONE BLVD WORKMAN LOS AMIGOS GOLF COURSE 18 Hole Public PIH HEALTH DOWNEY Golf Course HOSPITAL LAKEWOOD BLVD DOWNEY, CA 90241 CA DOWNEY, Firestone Boulevard DOWNEY • CA 6 7 DOWNTOWN LOS ANGELES A 20,200 SQUARE FOOT FREESTANDING RETAIL BUILDING AVAILABLE FOR PURCHASE SIGNIFICANTLY BELOW REPLACEMENT COSTS IDEALLY SITUATED ON APPROXIMATELY ONE ACRE OF LAND IN A DENSE URBAN INFILL LOCATION DOWNEY, CA 90241 CA DOWNEY, Firestone Boulevard ALONG A HIGH TRAFFIC RETAIL THOROUGHFARE IN DOWNEY, CA DOWNEY, CA 90241 CA DOWNEY, Firestone Boulevard The Brandon Michaels Group of Marcus & Millichap is pleased to present for sale 9345 Firestone Boulevard, a 20,200 square foot freestanding retail building ideally situated on approximately 43,000 square feet of land in Downey, CA. This offering presents a unique opportunity to acquire almost an acre of land zoned DOC1 in a dense urban infill Los Angeles county location with a multitude of potential options. The subject property site within close proximity to the Interstate 605 San Gabriel Freeway amongst a sea of national retailers and dense single-family homes along Firestone Boulevard, a main retail thoroughfare that presents significant daily traffic counts north of 51,000 vehicles per day. 9435 Firestone Boulevard will be delivered vacant at the close of escrow. An owner-user Buyer can take advantage of historically low and attractive SBA financing FIRESTONE BLVD rates and occupy a portion or all the building immediate for their own business use. A value-add investor can take advantage of the excellent visibility and 152 feet of linear frontage along Firestone Boulevard and re-position the existing building, taking advantage of the low price per square foot and acquire this asset well below replacement costs. A developer can acquire approximately one acre of land in a dense, infill LA location and re-position the property to a myriad of potential uses. 9345 Firestone Boulevard is centrally located within the main retail district of Downey, a charming and historically rich pocket within close proximity to multiple national retailers and credit tenants, restaurants and upscale residential homes. Nearby shopping centers include The Promenade at Downey and the Stonewood Shopping Mall. The Promenade at Downey is within 2 Miles of the subject property and is home to retailers such as Starbucks, Chili’s, Chipotle, Panera Bread, Old Navy, Party City, Marshalls, Michaels, Best Buy, Walmart, Staples, Bed Bath & Beyond. Less than a mile from the subject property is the Stonewood Shopping Mall, EXECUTIVE SUMMARY a 939,000 square foot retail center that features national credit tenants such as Kohl’s, Macy’s, H&M, Rock & Brews, Buffalo Wild Wings, BJ's Brewhouse Restaurant and more. Other tenants in the immediate area include Raising Cane’s, Chick Filet, McDonald’s, Bank of America, In-N-Out Burger, Walmart, Dunkin Donuts, Ralphs, Dollar Tree, Chase Bank and El Pollo Loco. The subject property is less than a mile from the PIH Health Downey Hospital. 8 9 McDonald's DOWNEY IS A HIGH-GROWTH URBAN INFILL LOS ANGELES COUNTY SUB-MARKET THAT BENEFITS FROM DENSE IMMEDIATE POPULATION, HIGH DAILY TRAFFIC COUNTS, AND STRONG IMMEDIATE DEMOGRAPHICS THAT POSITION THE IMMEDIATE SUB-MARKET TO ATTRACT A PLETHORA OF DOWNEY, CA 90241 CA DOWNEY, Firestone Boulevard NATIONAL TENANTS AND STRONG LOCAL OPERATORS FIRESTONE BLVD DOWNEY, CA 90241 CA DOWNEY, Firestone Boulevard Downey is a city located in southeast Los Angeles County, California, United States, 13 mi southeast of downtown Los Angeles. It is considered part of the Gateway Cities. The city is the birthplace of the Apollo space program. It is also the home of the oldest still operational McDonald's restaurant in the world. Households in Downey, CA have a median annual income of $68,162, which is more than the median annual income of $61,937 across the entire United States. This is in comparison to a median income of $65,332 in 2016, which represents a 4.33% annual growth. The largest share of households have an income in the $75k-100k range. 9345 Firestone is located in Census Tract 5510 which in 2017 reported a median household income of $78,237. This would rank as the fourth highest Median Household income in Downey, the place with the highest Median Household Income (Total) in Downey, CA was Census Tract 5505 (directly adjacent to Census Tract 5510) with a value of $98,007. From 2016 to 2017, employment in Downey, CA grew at a rate of 1.17%, from 54.3k employees to 54.9k employees. The most common employment sectors for those who live in Downey, CA, are Health Care & Social Assistance (7,232 people), Manufacturing (7,011 people), and Retail Trade (6,641 people). This dense immediate sub-market benefits from over 22,000 people within one mile of the subject property, over 258,000 people within three miles of