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Pasadenacalifornia 91105 400 For Sale S Fair Oaks Avenue PasadenaCalifornia 91105 S Fair Oaks Avenue W Bellevue Drive INVESTMENT / REDEVELOPMENT OPPORTUNITY IN PASADENA 400 S. Fair Oaks Avenue | Pasadena CA 91105 GUILLERMO OLAIZ JOHN S. ARCHIBALD, MCR COLLIERS INTERNATIONAL Senior Vice President Senior Vice President 701 North Brand Boulevard | Suite 800 Lic. No. 01778986 Lic. No. 00996775 Glendale, CA 91203 +1 626 696 1018 +1 626 696 1208 +1 818 334 1900 [email protected] [email protected] Lic. No. 01908231 www.colliers.com Accelerating success. Table of Contents 400 S Fair Oaks Avenue PasadenaCalifornia 91105 CONFIDENTIALITY AGREEMENT ........................................ 3 HUNTINGTON HOSPITAL AERIAL VIEW ................................................................... 4 INVESTMENT SUMMARY ................................................... 5 PARCEL MAP ................................................................... 6 ZONING ........................................................................... 7 PROPOSED ZONING .......................................................... 8 ALLOWABLE USES / DEVELOPMENT STANDARDS............... 9 AMENITIES MAP ..............................................................10 METRO MAP ................................................................... 11 REGIONAL MAP ............................................................... 12 AREA MAP ...................................................................... 13 DEMOGRAPHICS & TRAFFIC COUNTS ............................... 14 CITY OF PASADENA OVERVIEW ........................................ 15 PASADENA MARKETPLACE .............................................. 16 400 S Fair Oaks Avenue | Pasadena, CA 2 Confidentiality Agreement Colliers International (hereinafter “Colliers”) has been retained as the exclusive advisor and fully executed, delivered, and approved by Owner and its legal counsel, and any conditions broker regarding the sale of the Property located at 400 S. Fair Oaks Avenue, Pasadena, to Owner’s obligations thereunder have been satisfied or waived. Colliers is not authorized CA 91105. to make any representations or agreements on behalf of Owner. This Offering has been prepared by Colliers for use by a limited number of parties and This Offering and the contents, except such information which is a matter of public record does not purport to provide a necessarily complete summary of the Property or any of or is provided in sources available to the public (such contents as so limited herein are the documents related thereto, nor does it purport to be all-inclusive or to contain all of called the “Contents”), are of a confidential nature. By accepting the package, you agree the information which prospective investors may need or desire. All projections have been (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) developed by Colliers, the Owner, and designated sources and are based upon assumptions not to disclose the package or any of the contents to any other entity (except to outside relating to the general economy, competition, and other factors beyond the control of advisors retained by you, if necessary, for your determination of whether or not to make the Owner and, therefore, are subject to variation. No representation is made by Colliers a proposal and from whom you have obtained an agreement of confidentiality) without or Owner as to the accuracy or completeness of the information contained herein, and the prior written authorization of Owner or Colliers, (iv) not use the package or any of the nothing contained herein is, or shall be relied on as, a promise or representation as to the contents in any fashion or manner detrimental to the interest of Owner or Colliers, and (v) future performance of the Property. Although the information contained herein is believed to return it to Colliers immediately upon request of Colliers or Owner. to be correct, Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such If you have no further interest in the Property, please return this Investment Offering forthwith. information. Further, Colliers, Owner, and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in, or for omission from, ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. this Investment Offering or any other written or oral communication transmitted or made available to the recipient. This Offering does not constitute a representation that there has DO NOT DISTURB OCCUPANT been no change in the business or affairs of the Property or the Owner since the date of preparation of the package. Analysis and verification of the information contained in this package is solely the responsibility of the prospective purchaser. FOR MORE INFORMATION CONTACT: Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors. Owner and Colliers each expressly reserve the right, at their sole discretion, to reject any GUILLERMO OLAIZ JOHN S. ARCHIBALD, MCR and all expressions of interest or offers regarding the Property and/or terminate discussions Senior Vice President Senior Vice President with any entity at any time with or without notice. Owner shall have no legal commitment Lic. No. 01778986 Lic. No. 00996775 or obligation to any entity reviewing this Offering or making an offer to purchase the +1 626 696 1018 +1 626 696 1208 Property unless and until a written agreement for the purchase of the Property has been [email protected] [email protected] 400 S Fair Oaks Avenue | Pasadena, CA 3 PASADENA CENTRAL 400 BUSINESS DISTRICT S Fair Oaks Avenue AVALON PasadenaCalifornia 91105 100 W. WALNUT DEL MAR STATION NEW NEW +/-1,000 UNIT +/-612,000 SF PASADENA MIXED USE MIXED USE CITY HALL DEVELOPMENT DEVELOPMENT 177 E. COLORADO HUNTINGTON HOSPITAL 0.25 Mile S Fair Oaks Avenue W Bellevue Drive 400 S Fair Oaks Avenue | Pasadena, CA 4 Investment Summary EXECUTIVE SUMMARY: ADDRESS 400 S Fair Oaks Avenue, Pasadena, CA 91105 BUILDING SIZE ±10,212 SF LAND AREA ±0.593 Acres (±25,812 SF) ZONING City of Pasadena CD-6 (Central District Specific Plan) ASKING PRICE $5,500,000 HIGHLIGHTS: • Highly visible Corner Lot with over 300 feet of street facing frontage. • Ideal for Medical Redevelopment due to proposed updated Specific Plan (shown on page 8). • Strong Demographics: Household Incomes average approximately $109,000 within a 1 mile radius. • Large Parcel on main Pasadena commercial thoroughfare allowing for myriad redevelopment opportunities. • Located less than 1 mile south of 210 Freeway and just one block north of Huntington Hospital. SITE DESCRIPTION: The Subject Property is a prime corner lot measuring approximately 25,812 square feet (0.593 AC) located in Pasadena, California. It is improved by an automotive-servicing building consisting of two structures measuring approximately 10,212 square foot of combined rentable building area. The small improvement (storage area) measures +/-1,378 SF, was built in 1962. The larger improvement (auto servicing building) measures +/-8,834 SF, was built in 1970 (per Assessor). Great visibility, large retail signage and ease of access from a highly-trafficked commercial thoroughfare. The Subject Property is located on the northeast corner of S. Fair Oaks Avenue and E. Bellevue Drive. There are 200’ linear feet facing E. Bellevue and 130’ linear feet facing S. Fair Oaks Ave. NOTICE: DO NOT DISTURB TENANT. 400 S Fair Oaks Avenue | Pasadena, CA 5 Parcel Map PARCEL NUMBER 5722-004-001 ZONING CD-6 (Central District Specific Plan) BUILDING SIZE ±10,212 SF LAND SF ±25,812 SF (±0.593 Acres) 5722-004-001 400 S Fair Oaks Avenue | Pasadena, CA 6 ZONING: Specific Plan: CD-6: Central District Specific Plan within the Transit Oriented Development (“TOD”) Overlay Zoning SPECIFIC PLAN GENERAL PLAN SITE SITE General Plan: Medium Commercial (0.0-2.0 FAR) CITY OF PASADENA ZONING MAP CITY OF PASADENA LAND USE DIAGRAM 400 S Fair Oaks Avenue | Pasadena, CA 7 South Fair Oaks Specific Plan Figure X-X South Fair Oaks Land Use Concept Site Land Use Concept Metro Station Proposed Zoning Metro Goldline Assessor Parcel Building DEL MAR BLVD. FAIR OAKS AVE. OAKS FAIR EDMONSON ALY. ARTS & INNOVATION FLEX DISTRICT AVE. RAYMOND South Fair Oaks 3-4 stories 1.0 - 2.0 FAR WAVERLY DR. Use Focus: • Flex space, including instructional, light manufacturing, MAY ALY. SITE creative office, biotech, medical, R&D, assembly spaces, breweries/brew pubs, restaurant ALY. TENHAEFF BELLEVUE DR. • Live/work • Neighborhood retail along California Blvd. and Fair Oaks Ave. Key Features: HERR ALY. PALMETTO DR. • Maintain existing eclectic character • Establish parking reductions to encourage incubator space and infill development • Require urban plazas and/or paseo connections through blocks CALIFORNIA BLVD. OUR PASADENA is a three-year program to update the City’s Specific Plans and Zoning Code to establish new development standards and design guidelines that support the vision, objectives, and policies established in the General Plan. SOURCE: www.ourpasadena.org 400 S Fair Oaks Avenue | Pasadena, CA 8 s s e g r u b . y m a M P 8 5 : 0 0 : Service Layer Credits: 5 8 1 Service L0 ayer 2 / 2 1 / 3 CONCEPTUAL DESIGN STANDARDS BUILDING FORM AND PLACEMENT STREETSCAPES AND OPEN SPACE - Height transitions adjacent to residential neighborhoods
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