FOR SALE Regal San Bernardino Stadium 14 & RPX ±33,000 SF Retail Development 14 Screen Movie Theatre Anchor Tenant 450 North E Street, San Bernardino, CA Theater Square Historic Downtown Location 252,372 Total Land SF Eight # of Parcels Theater Square - San Bernardino, CA Table of Contents
SECTION I - EXECUTIVE OVERVIEW Executive Summary...... 4 Property Overview...... 5 Development Overview...... 6 Inland Empire Theatre Competition Map...... 7
SECTION II - PROPERTY DESCRIPTION Property Photos...... 9 Site Plan ...... 10 Proposed Site Plan And Land Use Designations ...... 11 Plat Map ...... 12 Aerial View...... 13
SECTION III - FINANCIAL ANALYSIS Projected Income & Expense ...... 15 Movie Theater Income & Expense ...... 16 Lease Abstract...... 17 Projected Rent Roll...... 18
SECTION IV - SALE COMPARABLES Sales Comparables...... 20
SECTION V - AREA DESCRIPTION Area Map...... 22 Location Overview...... 23
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. 2 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA
N H ST SECTION I Executive Overview
N G ST
Section I W 5th S
Executive Overview T CAROUSEL SQUARE N F ST CALIFORNIA THEATRE
W 4th S
T
T HEATER SQUARE PLAZA
N E ST Carousel Mall images are concepts only for visioning purposes and have not been adopted by the City Council as either regulations or guidelines
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. 3 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Executive Summary
Regal San Bernardino Stadium 14 & RPX 450 North E Street San Bernardino, CA 92401
PRICING PROPERTY LIST PRICE: UNPRICED MAJOR TENANT: Regal Cinemas San Bernardino 14 & RPX PROPERTY PARCELS: 0134-121-25, 27 & 0134-131-28, 29, 30, 35, 36 & 37 APN: 0134-121-25 ± 64,033 SF YEAR COMPLETED: 1999 / 2012 APN: 0134-121-27 ± 111,122 SF BUILDING SIZE: ± 33,000 net rentable square feet APN: 0134-131-28 ± 10,454 SF LAND AREA: ± 252,372 square feet (± 5.8 acres) APN: 0134-131-29 ± 20,695 SF PARKING: ± 220 onsite parking spaces APN: 0134-131-30 TBD ± 500 spaces at Cal Trans Building ± 1,134 parking spaces at Carousel Garage APN: 0134-131-35 ± 27,366 SF ± 1,854 Total Parking Spaces APN: 0134-131-36 ± 10,556 SF ZONING: CG-2 APN: 0134-131-37 ± 8,146 SF TRAFFIC COUNTS: 135,435 ADT at W 5th Street (at I-215 Fwy) 15,284 ADT at W 4th Street (at N H Street) TOTAL LAND SF ± 188,339 SF
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. 4 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Property Overview
450 North E Street (Theater Square) is a potential ±33,000 SF retail development property. Located on the NWC 4th & E Street in Downtown San Bernardino, Theater Square is occupied by Regal Cinemas, a fourteen (14) screen movie theater. Regal Cinemas is ideally located in Downtown San Bernardino, with easy access to the regional market and a major workforce population that can walk to the site. Daytime population demographics are excellent with over 42,000 people within two-miles. Regal Cinemas and the adjoining California Theatre are the main draws to the site. Theater Square offers great street visibility and is easily accessible. Theater Square offers immediate access to the 215 Freeway (Right off 5th Street exit) within minutes of the subject property.
Ample public parking is available directly adjacent to the property, along F Street and 5th Street, with short term parking directly in front of the property. Along with the ±220 on-site parking spaces, an additional three-level public parking structure is located directly across the street, offering ±1,134 parking spaces in the Carousel garage. An additional ±500 spaces may be added as demand warrants at the Cal Trans Building, bringing the total number of parking spaces to approximately ±1,854 parking spaces.
The California Theatre, a 1,700 seat historic live performance venue, is ideally located directly next door. This synergistic mix, along with plans to expand on the existing subject property with additional restaurant and retail tenants, are part of the City’s plans to revitalize Downtown San Bernardino. The downtown area is home to numerous local, state and federal government offices which draw white collar employees into the surrounding area on a daily basis. Theater Square plays California Theatre - Theater Square a key role in the development of downtown San Bernardino.
546,138 155,680 $69,016 84,070 $553 M
7-Mile radius 40K+
Resident # of Average # of Households Annual Food Population Households Household Average Income Expenditures Income Above $40K Away From Home
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. 5 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Development Overview
The site has been fully approved for ±33,000 square feet of restaurant and retail space. All that is necessary is staff conformance review with the City Council approved Theater Square Strategic Plan before plans can be submitted for building plan check. In order to address a market void and to catalyze development in downtown San Bernardino, the City approved plans for a ±12,000 SF of in-line theater retail space and ±21,000 SF of frontage pads for retail, restaurants and community space. The space in front of the theater will transition into a successful first stage retail and entertainment block that will serve as a meeting place, place for events, landmark, and a downtown San Bernardino success story. The new investor/developer will develop a comprehensive and well-executed development project. The property adjoining theater (Carousel Mall) is planned for comprehensive redevelopment in the coming years as the City of San Bernardino focuses on new development and infrastructure downtown. The new development at Theater Square will benefit from an estimated 700,000 annual visitors to the site to attend movies and the California Theatre. NEW ARTICULATED CORNER NEW CANOPIES
MARQUEE REDEVELOPED LINE SHELL SPACE ARTICULATED CORNER WITH SIGNAGE
EXISTING COMMERCIAL (NIC) OUTDOOR ROOFTOP TERRACE F STREET 5th STREET
EXISTING EXISTING EXISTING HISTORICAL REGAL CINEMAS COMMERCIAL CALIFORNIA THEATRE (NIC) (NIC)
REDEVELOPED INLINE SHELL MARQUEE TYP. SPACE CORNER ARTICULATION TYP. CINEMA ADS
REFINISHED WITH STEPS TROWEL STUCCO CMU 4th STREET
NEW STOREFRONT
NEW ILLUMINATED WALL SIGNAGE OR ARTICULATED CORNER
EXTERIOR SEATING
EXISTING TRANSFORMER WALL SIGNAGE NEW CAFE / RESTAURANT PAD E STREET STEPPED EXTERIOR PATIO SEATING
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. 6 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Park National Forest BLM Land N Military Land State Park 395 Oro Grande Natural Area 0 10 mi Adelanto Attraction Main Street City Victorville Apple DESERTS California Welcome Center Valley Major Airport Roy Rogers-Dale REGION Evans Museum Rest Area 18 California Mission 247 Bear Valley Rd 18 Ski Area 247 15 Lucerne Wildlife Viewing Area Valley 138 Hesperia Phelan Ski 18 Sunrise S a n B e r n a r d i n o M Cajon o u n t a 2 Summit i n s 4,190’ Cajon Wrightwood Pass 3,890’ 173 LOS 138 Big Bear Mtn Discove ry ANGELES High P Silverwood Center acif Big Air ic Cr l Silverwood Lake Lake SRA Green Fawnskin 38 COUNTY est Trai Lake Arrowhead Green Valley Valley Blue Lake Big Bear Lake Big Bear City REGION Mt Baldy Jay Lake Arrowhead 18 Snow Crestline 189 Big Mt Baldy ANGELES Bear Summit N ATIONAL Skyforest Lake Devore Bear Mtn FOREST Theater Square - San Bernardino, CA Snow S a n Running Valley G a 215 br i el Glen Helen 18 Springs M ou Inland Empire Theatre Competition Map n t a i n Blockbuster 330 s Pavilion 206 15 Muscoy Highland 38 San Gorgonio Mtn 30 1 11,499’ SUBJECT PROPERTY Rancho San Bernardino, CA 6 Fontana Rialto San Bernardino Cucamonga 30 66 San Bernardino Int’l Airport
30 miles to Los Angeles Upland Loma 2 SAN 9 4 Colton Linda 7 BER NARDINO Montclair 10 Oak Glen Redlands NATIONAL Ontario Int’l 3 MOVIE THEATRES FOREST Ontario Airport Grand Regal San Bernardino Stadium 14 & RPX Glen 450 North E Street Yucaipa d Terrace R 215 San Bernardino, CA 92401 60 Avon n Sterling 6 e Rubidoux 1 2373 Sterling Ave l Chino G San Bernardino, CA 92404Calimesa k 83 Harkins Theatres Mountain Grove 16 a 2 27481 San Bernardino Ave Mira Loma Riverside O Chino Hills Redlands, CA 92374 Krikorian Redlands Cinema 14 10 Los Serranos Jurupa 8 3 340 Eureka St Cherry Valley 5 Redlands, CA 92373 10 Fontana Regency 8 Moreno Valley 4 16741 Valley Blvd 142 Fontana,60 CA 92335 Banning University Village 10 10 Norco 5 1201 University Ave A 91 Riverside, CA 92507 AMC Victoria Gardens 12 Beaumont Castle 6 12600 N Main St 71 Rancho Cucamonga, CA 91739 Park V MARCH a AMC Dine-In Ontario Mills 30 n 79 AFB 7 4549 Mills Cir B erris Blv d Ontario, CA 91764
u P r e n B l v d LAKE Jurupa 14 Cinemas Home Woodcrest 8 8032 Limonite Ave Corona Gardens PERRIS Jurupa Valley, CA 92509 Edwards Ontario Palace 22 IMAX & RPX 9 4900 E 4th St Ontario, CA 91764 243 Regal Cinemas Riverside Plaza 16 El Cerrito Lake 10 3535 Riverside Plaza Dr Matthews LakeviewRiverside, CA 92506Ra 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. m7on a Ex Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] py DESERTS Glen Ivy Perris REGION Hot Springs San Jacinto
Homeland 74 74 Idyllwild 15 Hemet Menifee Quail Valley Winchester ORANGE Sun City Terra Lake COUNTY Elsinore Cotta Railroad SAN Canyon REGION Reservoir 79 BERNARD INO NF 74 Lake 215 Elsinore Lake Wildomar Skinner Anza 74 Murrieta CLEVELAND Cahuilla NF Temecula 371 Santa Rosa Valley Wineries Plateau Eco 15 Preserve Vail Lake Temecula 79 Aguanga
SAN DIEGO 47 miles to San Diego COUNTY REGION Theater Square - San Bernardino, CA
SECTION II Property Description
W 5th ST
FUTURE RETAIL PADS Section II
Property Description C ALTRANS & THEATER
T PARKING PARKING
F S N
N FUTURE FUTURE E
RETAIL PADS RETAIL PADS S
T
HISTORIC C ALTRANS CALIFORNIA FUTURE FUTURE BUILDING THEATER RETAIL PADS RETAIL PADS
W 4th ST
CAROUSEL MALL PARKING 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. 8 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Property Photos
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. 9 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Site Plan 5th Street
N.A.P. N.A.P. N
CINEMAS
450 N. E Street North F Street North E Street
California Theatre N.A.P. N.A.P. N.A.P.
Not Drawn to Scale 4th Street
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. 10 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Proposed Site Plan And Land Use Designations Optional Drive-way 1 Relocation W 5th Street Center Line (CL) 1 Optional Driveway Relocation for easier access and higher visibility of the drive thru and theater ads. The Driveway can stay as is (to the east of Parcel 10 the re-location spot) or moved. Having both is Parcel 9 2,500 SF not permitted. 2,500 SF 10 Existing 9 Commercial 2 New Drive Thru window extruding from Parcel Existing (NIC) One. Has to have bold, inviting signage as well Commercial as glazing to create open, inviting space. Easy (NIC) access from the street and site parking.
3 Existing Restrooms not required to be contained. Existing Service Yard Permitted setbacks at corners for cafe/dining 4 Existing Parking only. CL 5 Urban Park is a requirement of this development and must be remained. CINEMAS EXISTING REGAL CINEMAS 6 The three inline shell spaces (currently separated into individual parcels) can be developed New Drive Thru (N) Drive Thru Service Window individually or removed and replaced to be as Parcel 4, 5, 6 one. Two story buildings are permitted on this site Parcel 1, 2, 3 6,000 SF
6,000 SF E Street as well. All the spaces are approximate square Existing Exit Existing Exit footages. 6 Passageway 6 Passageway North F Street Maintain view corridor from E Street and 4th 7 2 Street to existing Regal Cinemas lobby. 1 2 3 4 5 6 4 Existing Existing Development Parcels SF Existing Parking Restrooms 3 3 Restrooms 1 2 3 ±6,000 SF
Existing F.H. 4 5 6 ±6,000 SF Existing Existing Historic Parcel 8 Parcel 7 Transformer 7 ±6,000 SF California 10,000 SF 3,200 SF S Theatre Service 8 7 S Areas 8 ±10,000 SF (NIC) Urban 2,800 SF ±2,500 SF Existing Possible Park 9 Connection to 4 Commercial Theatre CL (NIC) Exterior 10 ±2,500 SF Existing F.H. 5 Seating ±33,000 SF TOTAL Theatre Alley Maintain Street view of CL the Cinemas N 7 4th Street 10’ 30’ 70’ 120’
EXISTING EGRESS EXISTING RESTROOMS EXISTING INLINE SHELL SPACE NEW DEVELOPMENT NEW PARCEL FOR PURCHASE/LEASE 11 Theater Square - San Bernardino, CA Plat Map
N
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. 12 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Aerial View
Subject Property U.S. POST OFFICE
W 5th ST N
N A
RR SAN N
N BERNARDINO G O N N
D S WH
F S VETERANS
MOUNTAIN S T AFFAIRS T N EAD T H S
SAN AVE T CALIFORNIA BERNARDINO S THEATER
AN LAW VIE W 4th ST LIBRARY
B W N E
AVE R E S NA T
R DINO SAN BERNARDINO COUNTY
FR CITY HALL HEALTH CAROUSEL W 3rd ST E E N MALL W G SAN A S BERNARDINO
Y T SUPERIOR COURTS
W 2nd ST N
A RR O WH N N N N
EAD
G F S D E S S S T
T T T AVE
W RIALTO AVE
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. 13 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA
T W 5th S N G S T SECTION III
T N F S Financial Analysis W 4th S T
CAROUSEL HISTORIC SQUARE CALIFORNIA THEATER
T HEATER SQUARE PLAZA T S E N
W 4th S T
T S E N Carousel Mall images are concepts only for visioning purposes and have not been adopted by the City Council as either regulations or guidelines
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. 14 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Projected Income & Expense
Projected Value upon Completion Price $ 24,000,000 Rentable Square Feet 98,791 Price/Rentable Square Feet $243 Occupancy 100%
INCOME & EXPENSE Potential
PROJECTED INCOME Base Rent $ 1,840,000 CAM Recovery & CAM Admin 181,500 Less: Vacancy (%) (101,075) (5%) Effective Gross Revenue $ 1,920,425
PROJECTED EXPENSE PSF
Real Estate Taxes $338,712 3.43 Common Area Maintenance $ 414,922 4.20 Management Fees 3.0% 60,000 0.61 Reserves $0 19,758 0.20 Total Expenses $ 494,680 5.01
TOTALS Projected Net Operating Income $ 1,425,745 Projected Cap Rate 5.9%
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. 15 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Regal Theater Income & Expense
Regal Theater Value Price $ 12,000,000 Rentable Square Feet 65,791 Price/Rentable Square Feet $182 Occupancy 100%
Theater Sales Theater Sales Theater Sales Theater Sales INCOME & EXPENSE at $7.5 M at $8M at $8.5M at $9M
INCOME Base Rent $ 850,000 $ 850,000 $ 850,000 $ 850,000 Percentage Rent $ 275,000 $ 350,000 $ 425,000 $ 500,000 Effective Gross Revenue $ 1,125,000 $ 1,200,000 $ 1,275,000 $ 1,350,000
EXPENSE PSF PSF PSF PSF Real Estate Taxes $ 154,956 2.36 $ 154,956 2.36 $ 154,956 2.36 $ 154,956 2.36
Estimated Operating Expenses $ 39,475 0.60 $ 39,475 0.60 $ 39,475 0.60 $ 39,475 0.60 Asset Management Fees 3.0% $ 24,000 0.36 $ 24,000 0.36 $ 24,000 0.36 $ 24,000 0.36 Reserves for Roof & Structure $0.20 $ 13,158 0.20 $ 13,158 0.20 $ 13,158 0.20 $ 13,158 0.20 Total Expenses $ 231,589 3.52 $ 231,589 3.52 $ 231,589 3.52 $ 231,589 3.52
TOTALS Net Operating Income $ 893,411 $ 968,411 $ 1,043,411 $ 1,118,411 Cap Rate 7.45% 8.07% 8.70% 9.32%
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. 16 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Lease Abstract
Tenant: Regal Cinema, Inc. Lease Type: Modified Gross a Tennessee Corporation (REG) Landlord’s Responsibilities: Property Taxes, Maintenance and Repair of Leased Premise: 450 North E Street the exterior of the premises including HVAC, Leased Area: ± 70,200 gross square feet Property Taxes, Property Insurance, Roof & Structure, All components of the building. Total Building Rentable Area: ± 65,791 square feet Tenant’s Responsibilities: Janitorial, Utilities & Services, Liability Insurance, Initial Term: 10 years, commenced July 1, 2012 Personal Property Taxes, Interior Maintenance and Repair of the fixtures. Lease End: June 30, 2022 Parking: The City of San Bernardino shall provide all * Current Rental Rate: $ 850,000 per annum for years 1-10 Parking Retention Areas throughout the Rent Term and ensure that no less than eight Rental Increases: Lease Year Base Rent per annum hundred (800) parking spaces are available 7/01/22 $920,250.00 within one thousand one hundred 1,100) feet from the front entrance for the use by Tenant. 7/01/27 $990,500.00 7/01/32 $1,060,750.00 Assignment: Tenant shall not assign, transfer, mortgage, 7/01/37 $1,131,000.00 sublet or otherwise transfer or encumber all 7/01/42 $1,201,250.00 or any part of Tennant’s interest in the Lease without Landlord’s written consent. Percentage Rental: Fifteen Percent (15%) of Gross Sales per Rent Year, payable only to the extent Fifteen Alterations: Tenant shall not without Landlord’s prior written Percent (15%) of Gross Sales per Rent Year consent make any alterations, improvements, exceeds the Base Rent payable for such Rent additions, or repairs in, on or about the Premises Year. or the Office Building Project.
Renewal Options: Four (4) Options to extend for a period of five (5) years subject to earlier termination (Sections 4.01 & 4.03) if Tenant’s gross sales are less than $2,500,000 in any lease year. NOTE: * Tenant is currently paying 8% of Gross Sales until such time that work is completed per Section 3.01 of the lease
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. 17 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Projected Rent Roll
Suite Tenant Name Rentable Sq. Ft. % Base Rent/Mo Total Rent/Yr Rent SF/Mo Lease Type Monthly CAMs Annual CAM % Rent Start Expire Options Notes Tenant currently pays 8% of their gross revenue. Regal Four (4) x Upon buildout of 2,500 450 Theaters 65,791 66.6% $70,833.00 $850,000 $1.08 Gross Gross Gross 15% 07/01/12 06/30/22 Five Year sf of the theater shops (existing) Options space, base rent will be $850,000
Theater Shops 1-6 12,000 12.1% $30,000.00 $360,000 $2.50 Net $5,000.00 $60,000 (proposed)
Parcel 7 7 6,000 6.1% $15,000.00 $180,000 $2.50 Net $2,500.00 $30,000 (proposed)
Parcel 8 8 10,000 10.1% $25,000.00 $300,000 $2.50 Net $4,166.67 $50,000 (proposed)
Parcel 9 9 2,500 2.5% $6,250.00 $75,000 $2.50 Net $1,041.67 $12,500 (proposed)
Parcel 10 10 2,500 2.5% $6,250.00 $75,000 $2.50 Net $1,041.67 $12,500 (proposed)
TOTAL 98,791 100% $153,333 $1,840,000 $13,750 $165,000
OCCUPIED AREA 98,791 100% $153,333 $1,840,000 $13,750 $165,000
VACANT AREA 0 0% $0 $0 $0 $0
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. 18 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA
SECTION IV Sale Comparables
T W 4th S
FUTURE NAP RETAIL PAD NAP FUTURE FUTURE RETAIL PAD N F S T T RETAIL PAD W 4th S FUTURE RETAIL PAD
FUTURE RETAIL PAD
FUTURE RETAIL PAD
N E S T
NAP T W 5th S Carousel Mall images are concepts only for visioning purposes and have not been adopted by the City Council as either regulations or guidelines
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. 19 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Sales Comparables - Movie Theatres
Property Name / Location Price Bldg SF PSF Year Built CAP COE
Brenden Theatres - Entertainment Center 1 531 Davis St $20,500,000 66,650 $307.58 1998 8.5% 04/28/17 Vacaville, CA 95688
12111 Valley View St 2 $7,365,000 10,293 $715.53 1974 N/A 10/14/16 Garden Grove, CA 92845
1410 Whyler Rd 3 $12,500,000 38,934 $321.06 2008 N/A 01/15/16 Yuba City, CA 95993
Average $13,455,000 38,626 $448.06
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. 20 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Theater Square - San Bernardino, CA Illustrative Plan SECTION V E ntertainment/Cultural Retail Area Description Residential-Mixed Use Residential E ducation Hospitality
F ST
T E S W 4th S T
W 2nd S
T T Carousel Mall images are concepts only for visioning E S purposes and have not been adopted by the City Council as either regulations or guidelines
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. 21 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] Park National Forest BLM Land N Military Land State Park 395 Oro Grande Natural Area 0 10 mi Adelanto Attraction Main Street City Victorville Apple DESERTS California Welcome Center Valley Major Airport Roy Rogers-Dale REGION Evans Museum Rest Area 18 California Mission 247 Bear Valley Rd 18 Ski Area 247 15 Lucerne Wildlife Viewing Area Valley 138 Hesperia Phelan Ski 18 Sunrise S a n B e r n a r d i n o M Cajon o u n t a 2 Summit i n s 4,190’ Cajon Wrightwood Pass 3,890’ 173 LOS 138 Big Bear Mtn Discove ry Theater Square - San Bernardino, CA ANGELES High P Silverwood Center acif Big Air ic Cr l Silverwood Lake Lake SRA Green Fawnskin 38 COUNTY est Trai Lake Arrowhead Green Valley Valley Blue Lake BigArea Bear Lake MapBig Bear City REGION Mt Baldy Jay Lake Arrowhead 18 Snow Crestline 189 Big Mt Baldy ANGELES Bear Summit N ATIONAL Skyforest Lake Devore Bear Mtn FOREST Snow S a n Running Valley G a b Glen Helen 215 N r i el M 18 Springs ou Blockbuster 330 n t a i n s Pavilion 206 15 Muscoy Highland San Gorgonio Mtn 30 38 SUBJECT PROPERTY 11,499’ Rancho San Bernardino, CA San Bernardino Cucamonga Fontana Rialto 66 San Bernardino Int’l Airport 30 miles to Los Angeles Upland Loma 30 SAN Colton Linda BER NARDINO Montclair 10 Redlands Oak Glen NATIONAL Ontario Int’l Ontario Grand FOREST Airport Glen Yucaipa d R Terrace Avon 215 n 60 e Rubidoux l Chino G Calimesa k 83 a Mira Loma Riverside O Chino Hills 10 Los Serranos Jurupa Cherry Valley Moreno Valley 142 60 Banning Norco 10 91 Beaumont Castle 71 Park MARCH V a 79 n AFB erris Blv d
B P ur LAKE Home en Blvd Woodcrest Corona Gardens PERRIS 243 El Cerrito Lake Lakeview Matthews Ramo na E xpy DESERTS Glen Ivy Perris REGION Hot Springs San Jacinto 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. 22 74 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY74 760.448.2459 [email protected] Idyllwild 15 Hemet Menifee Quail Valley Winchester ORANGE Sun City Terra Lake COUNTY Elsinore Cotta Railroad SAN Canyon REGION Reservoir 79 BERNARD INO NF 74 Lake 215 Elsinore Lake Wildomar Skinner Anza 74 Murrieta CLEVELAND Cahuilla NF Temecula 371 Santa Rosa Valley Wineries Plateau Eco 15 Preserve Vail Lake Temecula 79 Aguanga
SAN DIEGO 47 miles to San Diego COUNTY REGION Theater Square - San Bernardino, CA Location Overview
Theater Square is located in the City of San Bernardino. San Places Near 450 North E Street, San Bernardino Bernardino is surrounded by universities, colleges and technical Government Buildings institutions, including California State University, San Bernardino. It is ■ San Bernardino City Hall the fastest growing city in the East Valley and is undergoing strong ■ San Bernardino Parks & Recreation ■ County Counsel development and revitalization with transportation implementation ■ Department of Transportation plans for the future growth of the region. Theater Square is located ■ San Bernardino County Family Court off the 215 freeway in the East San Bernardino submarket. The two ■ Internal Revenue Service hospitals within the City limits, San Bernardino Community Hospital and ■ Superior Court of California County of San Bernardino ■ San Bernardino International Airport St. Bernardine’s Medical Center are both state of the art facilities. City ■ Norman F. Feldheym Central Library residents also have access to the nearby Arrowhead Regional Medical ■ Plenty of Public Transportation Center and the world renowned Loma Linda University Medical Center. Nature ■ Seccombe Lake Park San Bernardino is located approximately 60 miles east of Los Angeles, ■ Meadowbrook Park 120 miles northeast of metropolitan San Diego, and 55 miles northwest of ■ Lytle Creek Park Palm Springs. The Metrolink commuter rail service, available at the Santa ■ Lytle Creek Channel Fe train station, provides long distance transportation to commuters Entertainment from the San Bernardino area to major centers of employment, such as ■ ASU Fox Theater downtown Los Angeles, and Orange County, within 90 minutes. Further ■ San Bernardino Symphony ■ Sturges Center for the Fine Arts enhancing commuter connectivity, the sbX Green Line express bus ■ California Theatre of Performing Arts line runs on a dedicated lane along E Street. It traverses a 15.7 mile ■ Sinfonia Mexicana route from California State University San Bernardino to Loma Linda ■ San Manuel Stadium University Medical Center. A new light rail program is in development ■ Inland Empire 66ers of San Bernardino Minor League (Angels advanced affiliate) extending service through San Bernardino to Redlands, California. The ■ National Orange Show Event Center two San Bernardino stops are strategically planned in the civic center Companies and hospitality corridors. The City of San Bernardino has a labor force ■ Chase Bank of 84,400. For the past five years, the City has seen a steady 2 percent ■ Bank of America annual decrease in unemployment. ■ Wells Fargo Bank ■ San Bernardino Sun ■ USA Today
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. 23 Info: MATTHEW SULLIVAN 213.623.0800 [email protected] Tom GIOIA 949.790.312 [email protected] RANDALL DALBY 760.448.2459 [email protected] FOR MORE INFORMATION:
MATTHEW SULLIVAN Tom GIOIA Randall Dalby Managing Director Senior Vice President / Principal Senior Vice President / Principal 213.623.0800 949.790.3124 760.448.2459 [email protected] [email protected] [email protected] BRE License # 00848427 BRE License # 01219394 BRE License # 01259576
CONFIDENTIALITY AGREEMENT The information contained in the following Marketing Proposal is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Lee & Associates - Investment Services Group and should not be made available to any other person or entity without the written consent of Lee & Associates Investment Services Group. This Marketing Proposal has been prepared to provide summary, unverified information to the aforementioned owner of the property receiving it. The information contained herein is not a substitute for a thorough due diligence investigation. Lee & Associates Investment Services Group 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 with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition 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 Prooposal has been obtained from sources we believe to be reliable; however, Lee & Associates Investment Services Group has not verified, and will not verify, any of the information contained herein, nor has Lee & Associates Investment Services Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. The owner must take appropriate measures to verify all of the information set forth herein.
Lee & Associates® – Los Angeles - ISG Corp ID #: 01859073 A Member of the Lee & Associates® Group of Companies 515 S. Flower Street, Suite 3600, Los Angeles, CA 90071 Office213.623.0800 Fax 213.623.1395