NNN INDUSTRIAL / R&D INVESTMENT CORPORATE ID #01191898 3500 WILLOW LANE WESTLAKE VILLAGE, CA MIKE TINGUS, President GRANT FULKERSON, SIOR, Managing Director 818.223.4380 |
[email protected] | www.MikeTingus.com 818.449.4401 |
[email protected] | www.Fulkerson-RE.com BRE # 01013724 BRE # 01483890 No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. 3500 Willow Lane, Westlake Village, CA NNN INDUSTRIAL / R&D INVESTMENT INVESTMENT HIGHLIGHTS LEASE DETAILS Rents approximately 25% below market Tenant: Easton Diamond Sports, LLC Assumable $7,000,000 loan at 3.75% Original Building Size: ±111,703 SF Approximately 7 years remaining on term Current Building Size: ±104,267 SF ±$10,000,000 of building upgrades and improvements completed in 2016 Base Rent: $95,196.02 per month NNN ($0.91 PSF) Extremely low market vacancy rates (±2%) Starting January 1, 2019 Rental Increases: Three Percent (3%) Annually Option to Extend: Two (2) Options to Renew for five (5) years each at Fair Market Value (FMV) INVESTMENT OFFERING (See Option(s) to Extend Addendum for FMV area limitations) NOI: $1,142,352.24 + Parking Income Sale Price: $21,759,090.29 Lease Commencement Date: January 1, 2016 Cap Rate: 5.25% Lease Expiration Date: May 31, 2026 Lease Type/Form: AIR Commercial Real Estate Association Standard Industrial/Commercial Single- Tenant Lease - Net INVESTMENT SUMMARY 3500 Willow Lane was purchased in 2015 and immediately leased to Easton Baseball/Softball, Inc. Approximately $10 million in upgrades and improvements were completed in 2016.