OFFERING MEMORANDUM HANGAR FACILITY SUBJECT PROPERTY PHOTO A DUAL-HANGAR FACILITY SITUATED ON ± 4.48 ACRES WITHIN CAMARILLO AIRPORT 575 AVIATION DRIVE | CAMARILLO, CA 93010 HANGAR FACILITY CONTACT US KATRIN GIST National Lead, CBRE Airport Properties CA Lic. 01928732 +1 206 947 1399 [email protected] MIKE PHILBIN Vice President CA Lic. 01922822 +1 818 907 4691 [email protected] SAM ALISON Senior Vice President CA Lic. 01167124 +1 818 907 4690 [email protected] SUBJECT PROPERTY PHOTO SUBJECT PROPERTY PHOTO THE OFFERING $14,500,000 CBRE is pleased to offer this extraordinary opportunity to OFFERING PRICE purchase the Air 7 FBO hangar facility at the Camarillo Airport. This ±65,258 SF premier facility has two 27,043 SF hangar bays and 11,172 SF of high-end office space with lobby and lounge areas, private offices, conference rooms, pilot sleeping AIR 7 HANGAR FACILITY quarters, and kitchen facilities. The facility has its own fuel ±65,258 SF farm with 12,000 and 20,000 gallon above-ground fuel tanks, and is an incredible opportunity for a variety of aviation venues, including FBOs, MROs, private flight departments, 575 AVIATION DRIVE and/or charter operators. The Los Angeles area hangar market is exceptionally tight, and it is rare to find a hangar facility of CAMARILLO, CA 93010 this size and quality available to purchase. 3 HANGAR FACILITY HIGHLIGHTS SUBJECT PROPERTY PHOTO FACILITY IS SITUATED ON ±195,184 SF (±4.48 ACRES) TWO 27,043 SF HANGAR BAYS WITH 27 FT. 10 IN. TALL TWO-WAY SLIDING HANGAR DOORS THAT OPEN TO A 131 FT. WIDE CLEARANCE HANGAR BAYS ARE EACH 185 FT. WIDE AND 138 FT. DEEP LEASEHOLD INCLUDES ADDITIONAL FUEL FARM SITE: ±3,781 SQUARE FEET (±0.09 ACRE) WITH 12,000 AND 20,000 GALLON ABOVE-GROUND FUEL TANKS HIGH GLOSS EPOXY FLOOR COVERING IN HANGAR BAYS FOAM/WATER DELUGE FIRE SPRINKLER SYSTEM THROUGHOUT 2,000-AMP POWER STEEL DECKING HANGAR ROOFS WITH SKYLIGHTS PRIVATE PARKING LOT WITH 64 PARKING SPOTS GROUND LEASE TERM THOUGH MARCH 31, 2053 (INCLUDING THE 10-YEAR EXTENSION OPTION) 4 HANGAR FACILITY MOS# 378945 N SOUTHERN CALIFORNIA Driving Distances (Driving Times are Approximations) ¦¨§5 Goleta Santa Santa Barbara Ojai Clarita 42 MILES 40 MIN DRIVE TIME (US RT 101) 16 MILES 20 MIN DRIVE TIME 43 MILES Ventura (US RT 101) 40 MIN DRIVE TIME CAMARILLO (US RT 101) Van Oxnard Thousand Nuys Burbank Oaks ¨§405 Glendale Calabasas ¦ Pasadena Malibu Los Angeles Santa Monica 56 MILES 27 MILES 50 MIN DRIVE TIME 20 MIN DRIVE TIME (US RT 101) (LAS POSAS RD HANGAR FACILITY CA STATE RT 1) SITE PLAN J.R. Miller & Associates 2700 Saturn St., Suite #100 Brea, CA 92821 tel.714.524.1870 fax.714.524.1875 www.jrma.com 6 A RARE PREMIER FACILITY IN THE LOS ANGELES MARKET HANGAR FACILITY SITE PLAN BUILDING 2 BUILDING 2 OFFICE 2ND FLOOR OFFICE 1ST FLOOR ±5,338 SF ±5,834 SF 7 HANGAR FACILITY FBO OPPORTUNITY This is a valuable opportunity for an FBO to secure a premier facility in the Los Angeles market with an existing tenant base. The facility is like new and attractive for the most discerning clientele. The Camarillo Airport is a strategic alternative to more crowded and expensive airports in the area such as VNY, LAX, and BUR. In 2019 there were 2,452,496 gallons of jet fuel and 412,860 gallons of LL fuel sold at the Airport. SUBJECT PROPERTY PHOTOS 8 HANGAR FACILITY SUBJECT PROPERTY PHOTO 9 HANGAR FACILITY SUBJECT PROPERTY PHOTOS HANGAR FACILITY 10 SUBJECT PROPERTY PHOTOS HANGAR FACILITY 11 SUBJECT PROPERTY PHOTO 12 HANGAR FACILITY SUBJECT PROPERTY PHOTO PRIVATE AIRCRAFT OWNERS The facility also provides private aircraft owners an opportunity to own their own premier hangar facility instead of leasing space at an FBO or elsewhere. A private owner may desire to use one of the hangar bays for its own operations and lease the other bay to another party. Leasing one of the hangar bays to another party/ parties alone could generate upwards of $50,000/month, which could be more than the monthly debt service for a buyer financing the purchase. Leasing one hangar bay and the office space could generate over $75,000/month. For an aircraft owner burning a lot of jet fuel, the savings generated by self-fueling with the facility’s fuel farm could equate to millions per year. HANGAR FACILITY 13 SUBJECT PROPERTY PHOTO HANGAR FACILITY 14 THE AIRPORT The Camarillo Airport is home to over 600 general aviation aircraft and there are between 150,000 and 200,000 take offs and landings per year. The airport community includes several aviation businesses providing flight instruction (fixed wing and helicopter), aircraft maintenance, aircraft charter and storage. The Airport has a 6,013 ft. x 150 ft. runway and a control tower that is open year-round, 7 days a week from 0700-2300. CAMARILLO AIRPORT | CAMARILLO, CA HANGAR FACILITY 15 MARKET OVERVIEW AFFLUENT AREA Within a 5-mile radius of the Camarillo Airport, over 120,000 people reside in 35,000 households The City of Camarillo, located in Ventura County, with average annual household income exceeding California, has a population of 69,000 full time $112,000. residents. The city is strategically located on the Oxnard Plain and is connected to Los Angeles to the VENTURA COUNTY MAJOR EMPLOYERS east and Ventura and Santa Barbara to the west via the US Hwy 101 Ventura Freeway, a major California • AMGEN INC thoroughfare. The city’s stated mission is to provide effective and efficient municipal services that • HARBOR FREIGHT TOOLS promote a high quality of life, economic vitality, and • CALIFORNIA NATIONAL GUARD a safe environment for its residents and visitors. • UNITED STATES NAVY Median household income in Camarillo exceeds $92,000 and over 40% of the city’s residents have • BAXTER HEALTH CARE a college degree. The homeownership rate exceeds 67% and the average home sale price in the city exceeds $620,000, growing over 4% annually since 2017. SUBJECT PROPERTY PHOTO HANGAR FACILITY 16 SUBJECT PROPERTY PHOTO PREMIUM RETAIL CAMARILLO AIRPORT FUTURE ECONOMIC DEVELOPMENT THE CAMARILLO PREMIUM OUTLETS Formerly known as Oxnard Air force In an effort to bolster and improve revenue and is the premier shopping destination in base and established in the 1950’s for infrastructure, the CITY OF CAMARILLO has approved Ventura County conveniently located coastal defense, CAMARILLO AIRPORT a plan to attract more skilled workers and business off the 101 freeway, offering designer is an FAA-towered facility with several investments. The economic guide plans to implement brands, brand-names, and outlet style FBOs headquartered on 650 acres marketing strategies to attract millennial tech workers shops. Tenants include Gucci, Armani, of land. Overseeing and operating and in unison with local universities promote a young Hugo Boss, Coach, Lululemon along the 600+ general aviation aircraft professional lifestyle to help rebrand Camarillo. with an array of multiple dining options. is a partnership between the city of Sales at outlet malls have doubled to Camarillo and greater Ventura County The City of Camarillo has placed an emphasis on land approximately $50 billion in the past officials. These facilities support over policies and initiatives that will help spur residential five years. Camarillo Premium Outlets 1,000 employees and Camarillo Airport development and mixed-used developments. City offers a great blend and balance with (CMA) represents nearly $200 million officials want to leverage the Port of Hueneme (the over 160 different retailers and an in economic value for the surrounding only deep-water port that connects Los Angeles with amenity rich landscape for residents community. Recently, CMA was San Francisco Bay), Camarillo Airport, and the nearby and visitors alike. classified as a national asset by the US Naval Academy to potentially provide additional Federal Aviation Administration. transportation and distribution options for companies. Springville Development is a recently completed project along Central Avenue and Las Posas Road. It features 1,440 housing units with a significant portion dedicated to affordable housing units. Another development project currently underway is the Paseo Camino Real Commercial Center; it is the first phase build-out as part of the much larger 338-acre Airport North Specific Plan, focusing on the redevelopment of land south of the Ventura freeway and west of the Camarillo Airport. The new design and first development will feature 499,000 square feet of retail, dining, and entertainment areas. HANGAR FACILITY 17 SANTA BARBARA SOUTHERN ±43 MILES Whiteman CALIFORNIA Airport CAMARILLO REGIONAL AIRPORTS AIRPORT Van Nuys Airport N ±42 MILES BOB HOPE MUNICIPAL Oxnard Airport ±16 MILES AIRPORT ±50 MILES POINT MUGU El Monte NAS Airport Malibu Santa Monica ±55 MILES ±27 MILES Municipal Airport Hawthorne LOS ANGELES Municipal INTERNATIONAL Airport AIRPORT ±55 MILES Fullerton Compton/ Municipal Woodley Airport Airport Los Zamperini Field Alamitos Airport LONG BEACH/ AAF DAUGHERTY FIELD AIRPORT John Wayne Airport SANTA MONICA AIRPORT CLOSURE IN 2017 THE CITY OF SANTA MONICA AND THE FEDERAL AVIATION ADMINISTRATION REACHED AN AGREEMENT TO CLOSE THE SANTA MONICA AIRPORT (SMO) BY 2028, THE SAME YEAR LOS ANGELES HOSTS THE OLYMPICS. BEGINNING IN JUNE 2019, THE FIRST OF FIVE PHASES SAW THE REDUCTION OF THE RUNWAY FROM 5,000 TO 3,500 FEET IN LENGTH, RETURNING THE LAND TO THE CITY FOR FUTURE REDEVELOPMENT. APPROXIMATELY 227 VACATED ACRES ARE SLATED TO BECOME PARKLAND. HANGAR FACILITY MOS# 378945 ST99 Santa ST166 Maria POPULATION ± 450,587 Santa Barbara Los Alamos County ST33 POPULATION Lompoc Santa Ynez ¦¨§5 Los Padres ± 863,387 Solvang National Forest ST1 Ventura County ST154 Point Gaviota Concepcion El Capitan Goleta Montecito £¤101 Ojai Summerland Santa Carpinteria Barbara ST192 THE CAMARILLO AIRPORT IS CENTRALLY LOCATED AND OFFERS DIRECT ACCESS TO MALIBU AND Ventura ST126 THROUGHOUT GREATER VENTURA COUNTY.