Development Opportunity for Sale │ Campbell, California
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DEVELOPMENT OPPORTUNITY FOR SALE │ CAMPBELL, CALIFORNIA OFFERING MEMORANDUM 1480 W. CAMPBELL AVE CAMPBELL, CA CONFIDENTIALITY AGREEMENT Cushman & Wakefield has been engaged as exclusive advisors to the Seller (the “Seller”), in connection with Seller’s solicitation of offers for the purchase of the fee simple interest in 1480 W. Campbell Avenue, Campbell, CA (“The Property”). The Property is being offered on an “AS-IS” basis. This Offering Memorandum is furnished to prospective purchasers on a confidential basis solely for the purpose of prospective purchasers determining whether or not to submit an offer to purchase the Property. The information contained herein, or any other related information provided by Seller may not be reproduced, redistributed or used in whole or in part for any other purpose. No person has been authorized to give any information or to make any representation or warranty, either express or implied, other than that contained in an executed purchase agreement subject to any disclaimer or limitations set forth therein. Information or representations given or made in any other form, should not be relied upon. While Seller has no reason to believe that the information provided herein, or in the due diligence materials, contains any material inaccuracies, neither Seller nor any of its respective officers, directors, shareholders, owners, employees, agents, members, managers, etc., may make any representations or warranties, express or implied, as to the validity, accuracy or completeness of the information provided or to be provided except as may be set forth in an executed purchase agreement, subject to any disclaimers or limitations set forth therein. Without limiting the generality of the foregoing sentence, nothing herein shall be deemed to constitute a representation, warranty or promise by Seller or any of its respective officers, directors, shareholders, owners, employees, agents, members, managers, etc., as to the future performance of the Property or any other matters set forth herein. A prospective purchaser’s sole role and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in the Due Diligence Materials, shall be limited to those expressly provided in an executed purchase agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or any of its officers, directors, shareholders, owners, employees, agents, members, managers, etc., for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. Prospective purchasers are not to construe the contents of this Offering Memorandum, any Due Diligence Materials or any prior or subsequent communications from Seller or any of its respective officers, directors, shareholders, owners, employees, agents, members, managers, etc., as legal, tax or other advice. Prior to submitting an offer, prospective purchasers should consult with: MIKE COSTA JAMES CHUNG +1 408 436 3660 +1 408 436 3630 [email protected] [email protected] Lic. #00415216 Lic. #01408190 1480 W CAMPBELL AVE // 2 CONTENTS EXECUTIVE SUMMARY 04 AREA OVERVIEW 06 PROPERTY OVERVIEW 10 ZONING OVERVIEW 13 PURCHASE PROCEDURE & LETTER OF INTENT 16 1480 W CAMPBELL AVE // 3 1 EXECUTIVE SUMMARY EXECUTIVE SUMMARY Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire a fee simple interest in a development site consisting of approximately 21,062 square feet of land with an 8,100 square foot structure in Campbell, California. The property is located at 1480 W. Campbell Avenue. This location provides excellent walkability to numerous shops and services and is strategically located between Downtown Campbell and the retail hub of Westgate Mall. Very dense residential neighborhoods, schools, parks and other community amenities put this property in the center of one of the most desirable areas in Santa Clara County. Located one and a half miles from 1480 W. Campbell Avenue, Downtown Campbell is a vibrant shopping and entertainment district featuring many historical landmarks and over 100 shops, services, and restaurants. Centered around the historical birthplace of the City of Campbell, remnants of the past are visible on every block of Downtown Campbell as the exchanges of community life happen against the backdrop of classic architecture dating back to the early 1900’s. W CAMPBELL AVENUE SAN TOMAS AQUINO ROAD 1480 W CAMPBELLTHE OLINAVE // 5 Source: www.downtowncampbell.com 2AREA OVERVIEW SAN FRANCISCO BAY AREA Encompassing three major metropolitan areas and nine counties, the San Francisco Bay Area is one of the nation’s more prominent geographies and is home to 7.56 million people. The region operates as an interconnected network of both urban and suburban enclaves, with San Francisco at its focal point. The Bay Area is California’s second largest urban area in terms of geography, and has an economy that produces a GDP of $721 billion, a number that ranks 16th among the top countries in the world. Renowned for its temperate climate, exceptional quality of life, well-educated work force and dynamic economy, the Bay Area continues to be regarded as one of the most exciting and innovative regions in the world. SILICON VALLEY A key component of the Bay Area economy, Silicon Valley is the world’s undisputed high-tech capital, blazing the trail for innovation in today’s global marketplace. Industry leaders in semiconductor design and manufacturing, network equipment, high-tech manufacturing equipment, software design, information systems, life sciences, clean tech and digital media all Silicon Valley home. The region draws its vitality not only from innovative new businesses, but also from the intense competition among its diverse array of existing companies. The Silicon Valley metro area ranks #3 in the world and #1 in the United States for GDP per capita. The region has one of the highest percentages of college educated adults in the country and continues to be a magnet for leading researches and entrepreneurs. The combination of the world’s leading research and educational institutions, San Francisco’s world-class financial base, the region’s well established business creation infrastructure and a geographic position which fosters fluid interaction with China and other Pacific Rim economies will ensure that Silicon Valley remains a leader in economic growth for decades to come. CAMPBELL Campbell, California is located in the southern region of Santa Clara County in the heart of Silicon Valley. Campbell is south of Santa Clara and west of San Jose. The City of Campbell encompasses 6 square miles and is considered part of the San Jose metro area. The City of Campbell is largely a suburban residential community and home to approximately 38,000 residents. Situated in the heart of one of the most affluent regions of Silicon Valley, Campbell has a thriving and dense population of high income, well-educated families and young professionals. It is known for its quaint downtown area, which offers numerous restaurants, shops and bars. 1480 W CAMPBELLTHE OLINAVE // 7 SILICON VALLEY AT A GLANCE LABOR FORCE OF TEMPERATE CLIMATE ONE MILLION AVERAGE HIGH: 72° 22% INCREASE OVER THE PAST 10 YEARS AVERAGE LOW: 50° 3.8% UNEMPLOYMENT EXTENSIVE NETWORK COMPARED TO CA AT 5.4% AND OVERALL U.S. AT 4.4% OF HIGHWAYS 280, 680, 880, 101, 9, 17, 82, 85 AND 237 44% OF ALL VENTURE CAPITAL 16 OF THE INVESTMENT IN THE U.S. OVER PAST 2 YEARS FORTUNE 500 (PWC MONEYTREE, INCLUDES SF MSA) COMPANIES HEADQUARTERS IN SILICON VALLEY HOME TO THREE OF THE WORLD’S TOP 10 MOST VALUABLE COMPANIES BY MARKET CAP. (FORBES 2017) 1480 W CAMPBELL AVE // 8 SILICON VALLEY AT A GLANCE CAMPBELL KEY DEMOGRAPHICS $ 43,675 $1,125,117 $116,580 CITY POPULATION MEDIAN HOME PRICE MEDIAN HH INCOME KNOWLEDGE & TECH WORKERS TECH WORKERS Knowledge workers are those whose occupations OF THE WORKFORCE IN SILICON VALLEY IS fall into one of the following categories: 27.4% TECH - NEARLY DOUBLE SAN FRANCISCO • Computer & Mathematical • Management • Architecture & Engineering • Education • Life, Physical & Social Science • Health Care SILICON VALLEY IS #1 IN THE U.S. FOR BOTH CATEGORIES 1480 W CAMPBELL AVE // 9 3PROPERTY OVERVIEW PROPERTY OVERVIEW OVERVIEW Site Address 1480 West Campbell Ave, Campbell, CA Parcel No. (APN) 404-01-035 Zoning C1 Lot Area 0.48 acres Building 8,100 square foot bank branch Construction Wood and steel frame Parking 22 spaces History Building was built in 1966 and renovated in 2006 PROPERTY OVERVIEW San Tomas Expressway WEST VALLEY SHOPPING San Tomas Aquino Road CENTER: SPROUTS, BEVMO, PIER 1 WESTGATE CENTER: 49ER FIT, TARGET, TJMAXX, PARTY CITY, WESTGATE WEST: NORDSTROM RACK, TRADER JOE’S, ETHAN MICHAEL’S, NIKE SAFEWAY ALLEN, SMART & FINAL FACTORY STORY HAMILTON AVENUE SAN TOMAS PLAZA: CVS, SUTTON SWIM SCHOOL SARATOGA AVENUE W. CAMPBELL AVENUE EL PASEO DE SARATOGA: AMC THEATER, REI, TRU FUSION FITNESS, TOTAL WOMAN GYM & SPA KIRKWOOD PLAZA: WALGREENS, NOB HILL, BIG 5 SPORTING GOODS 1480 W CAMPBELL AVE // 12 4ZONING OVERVIEW ZONING OVERVIEW C-1 │ NEIGHBORHOOD COMMERCIAL CLOVER BAYWOOD ZONING MAP WESTFIELD LENOR CITY OF CAMPBELL MONICA MITCHELL RESIDENTIAL DISTRICTS RAVENCOURT R-1-6 | Single-Family Residential (6,000 Sq. Ft. Min. Lot Size) MONICA PAMLAR R-1-8 | Single-Family Residential (8,000 Sq. Ft. Min. Lot Size) DAVID R-1-9 | Single-Family Residential (9,000 Sq. Ft. Min. Lot Size) S A N J O S E VALEY FORGE LISA R-1-10 | Single-Family Residential (10,000 Sq. Ft. Min. Lot Size) MILLICH HARRISON SITE Rosemary ALMARIDA BISMARK ROSEMARY ROSEMARY Elementary School R-1-16 | Single-Family Residential (16,000 Sq. Ft. Min. Lot Size) EDEN HAMILTON HAMILTON R-D | Two-Family Residential BOISE KAMSON MARATHON O WATSON DENVER CREEKSIDE SUNBERRY GALE LLEWELLYN R-M | Multiple-Family Residential PHANTOM MILTON HURST NOTTINGHAM APRIL MEMPHIS KINGS RICHLEE ESTHER KUEHNIS DUNSTER Dover LEIGH 3RD CALAD CHARLESTON GOMES HARRISON REX GRACE SPRINGFIELD School O SHEFFIELD QUEENS SALMAR MANCHESTER R-2 | Multiple-Family Residential CENTRAL ST.