2400 Grand Is Only 2.2 Miles from Tustin Legacy a Master Planned Development Including 1 Million Square Feet of Retail, Dining, and Entertainment Venues
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2400 SOUTH GRAND SAA AA, CALFORA FOR SALE OR LEASE | A Class A, Cross Dock/Distribution Facility in the heart of Orange County, California EXCLUSIVE CONTACTS: MICHAEL HARTEL JOE WINKELMANN NICK VELASQUEZ Executive Vice President Senior Vice President Senior Associate Lic #01031013 Lic #01259378 Lic #014946515 Dir +1 949 724 5700 Dir +1 949 724 5704 Dir +1 949 724 5707 [email protected] [email protected] [email protected] EXECUTIVE SUMMARY Colliers International is pleased to present the exceptional opportunity to aquire 2400 S. Grand Avenue (the “Property”), a Class “A” distribution/cross dock facility. The Property is located in Santa Ana, California, bordering Tustin and Irvine in the heart of Orange County’s premiere Airport Area industrial submarket. Consisting of approximately 169,274 square feet and situated on 8.6 acres of land, the building size is flexible with a possible expansion to 174,932 square feet. This freestanding building features rare cross dock loading with twenty dock high loading doors and four ground level loading doors, and has a fenced/secured yard. This premiere location offers immediate access to the 55 Freeway, and is only five minutes from John Wayne Airport and numerous shopping, dining and lifestyle amenities. COLLIERS INTERNATIONAL Licensed as Real Estate Salespersons by the CA Bur of Real Estate. 3 Park Plaza, Suite 1200 ©2016 Colliers International. The information contained herein has Irvine, CA 92614 been obtained from sources we deem reliable. While we have no reason to doubt its accuracy, we do not guarantee it. www.colliers.com PROPERTY SUMMARY PROPERTY DESCRIPTION ADDRESS: 2400 S. Grand Avenue Santa Ana, CA 92705 APN: 016-150-71 SITE AREA: ±8.6 acres of land / ±374,616 SF ZONING: M-1 Industrial SIZE: Building ±169,274 SF Expandable to ±174,932 SF Office ±15,000 SF Warehouse ±154,000 SF PARKING: 1.8:1,000 (±304 spaces) YEAR BUILT: 1997 CONSTRUCTION TYPE: Concrete Tilt-Up POWER: ±1200 Amps, 120/208 Volts FIRE SPRINKLERS: .60 GPM per 3,000 SF LOADING DOORS: 20 DH (expandable) / 4 GL CEILING HEIGHT: 32’ - 34’ YARD: Fenced/secured with trailer storage 6 | COLLIERS INTERNATIONAL CROSS DOCK LOADING: TRANSPORTATION: The Property is a rare cross dock facility which is ideal The property is conveniently located two minutes from the for distribution companies seeking to streamline business Grand-Warner (59) Metrolink bus stop and only four miles processes. The consolidated layout of a cross dock facility from the Tustin Metrolink Station which provides employees can help reduce inventory, labor and shipping costs saving easy access to Los Angeles, San Bernardino, Riverside, and businesses valuable time and money. San Diego Counties. CORNER LOCATION: Situated on the southwest corner of Grand Avenue and 7 E Warner Avenue, this highly visible location is seen by SUMMARY PROPERTY approximately 23,467 cars each day. EXCELLENT FREEWAY ACCESS: With access to the 55 Freeway only one block away, the Property is centrally located within minutes of the 5, 405 Freeways and State Route 261. AMENITIES: 2400 Grand is only 2.2 miles from Tustin Legacy a master planned development including 1 million square feet of retail, dining, and entertainment venues. The community which inlcudes over 2100 planned dwelling units is adjacent to an urban regional park with immediate access to jogging trails. 2400 S. GRAND AVENUE | SANTA ANA, CA | 7 AERIAL VIEW 8 | COLLIERS INTERNATIONAL 9 PROPERTY SUMMARY PROPERTY PARCEL MAP 2400 S. GRAND AVENUE | SANTA ANA, CA | 9 AREA OVERVIEW PREMIER AIRPORT AREA LOCATION > Central to all of Orange County > Close proximity to high-end executive housing and strong labor pool > Easy access to public transportation > Proximity to Ports of Los Angeles (miles) and Long Beach (miles). Port of Los Angeles & Long Beach ranked #1 & #2 (respectively) in the U.S. and combined they rank #9 worldwide. > Connectivity to the region’s primary logistics infrastructure: 55 Freeway, 5 Freeway, 91 Freeway, 57 Freeway > Nearby John Wayne Airport (miles), Long Beach Airport (miles) and LAX (miles) ABOUT ORANGE COUNTY: ECONOMY: Located along Califonia’s southern coast and set against the backdrop of Orange County is home to a number of restaurant headquarters, clothing the Santa Ana mountains, Orange County is the third largest county in the brands, pharmaceutical companies and technology firms that are part state by population with over 3 million residents. The area’s fertile lands and of the so-called Tech Coast. Five Fortune 500 and eight Fortune 1000 mild Mediterranean climate have made it ideal for surfing, beach volleyball, corporations are located in Orange County’s major cities, including Irvine, and agricultural pursuits that boost the economy and attract visitors from Lake Forest, Santa Ana and Newport Beach. The county’s gross domestic around the world. Orange County is one of the wealthiest parts of Southern product exceeds $210 billion and taxable sales total $61.9 billion each year. California with a median family income higher than the national average Local businesses and tourism power the economy employing over 140,000 and state average, and unemployment rates lower than any other major people and producing $9.6 billion annually. The area also has a booming metropolitan area in the state. Orange County is one of the most densely retail business driven by five of the region’s largest malls and shopping populated areas in the United States at 3,807 residents per square mile centers representing approximately one-fifth of all Orange County visitor with exceptionally affluent demographics providing access to executives and spending. The South Coast Plaza Mall alone, a 2.7 million square foot employees. shopping destination with more than 375 shops and restaurants, reports $1.3 billion in annual revenue making it the hightest grossing shopping center in the U.S. 12 | COLLIERS INTERNATIONAL ORANGE QUICK FACTS1 CALIFORNIA US COUNTY Population 2010 3,010,232 37,253,956 308,745,538 Population 2015 3,169,766 39,144,818 321,418,820 (Estimated) Population Growth 5.3% 5.1% 4.1% Median Household $75,998 $61,489 $53,482 Income (2010-2014) High School 84% 81.5% 86.3% Graduate Bachelor’s Degree 37.3% 31% 29.3% or Higher 2 13 Unemployment 4.0% 6.2% 5.3% PROPERTY DESCRIPTION PROPERTY 1 Source: http://www.census.gov/quickfacts/ 2 Source: CA Employment Development Department JOHN WAYNE AIRPORT: PORT OF LOS ANGELES & PORT OF LONG BEACH: Established as an airfield in 1929, John Wayne Airport has grown 40% of the nation’s products are imported through the Ports of Los into a state-of-the-art aviation facility. John Wayne Airport offers Angeles (POLA) and Long Beach (POLB), and roughly 40% of these Orange County residents, tourists, and business travelers 11 imports are bound for Southern California. These sister ports are commercial carriers, three commuter airlines, and 23 non-stop individually the two busiest ports in North America. The Ports of Los destinations. Serving 9.6 million passengers annually, John Wayne Angeles and Long Beach reported a 2015 total of nearly 15.4 million Airport is centrally located in Orange County with convenient access Twenty-Foot Equivalent Units (TEUs) - the Port of Los Angeles to hotels, conference centers and tourist destinations. accounted for approximately 8.2 million TEUs, while the Port of Long Beach handled almost 7.2 million TEUs. John Wayne Airport which is undergoing a $543 million renovation. The newly completed Terminal C will increase the airports annual The POLA plans to invest $1 billion over the next 5 years be able to passenger capacity to 10.8 million and will allow the airport to offer accommodate ships carrying 13,000 containers, known as Super international lights. Other airports located in close proximity to the Post Panamax megaships. The Ports of Los Angeles and Long Beach Property are Long Beach, LAX and Ontario. are two of the only U.S. ports that will be post-Panamax ready. JOHN WAYNE AIRPORT REGIONAL MAP 14 | COLLIERS INTERNATIONAL 15 PROPERTY SUMMARY PROPERTY LOCATION MAP 2400 S. GRAND AVENUE | SANTA ANA, CA | 15 32 7 33 31 27 29 11 19 28 16 8 35 30 21 24 23 3 5 36 12 22 20 34 37 6 18 17 4 10 13 9 2 1 25 14 SITE 15 NEARBY DEVELOPMENTS, NEIGHBORS AND AREA AMENITIES SHOPPING & DINING Course 22. Main & Jamboree 34. Pacific Life Insurance 45. Radisson Hotel Newport 1. Von Karman Plaza 12. Bill Barber Community Park 23. 18872 MacArthur Blvd 35. Western Digital Beach 2. The District 13. Sandpointe Park 24. 2301 Campus Dr 36. Ernst & Young 46. WyndDAFUQ Irvine OC 3. Westpark Plaza 14. Lillie King Park 25. Amalifi 37. PricewaterhouseCoopers Airport 4. South Coast Plaza 15. Delhi Park 26. Anton Legacy 47. Embassy Suites Irvine 5. Harvard Place 16. Boomers! Irvine 48. Extended Stay America MAJOR EMPLOYERS 6. Diamond Jamboree HOTELS 49. Crowne Plaza Costa Mesa 27. Google 7. Fashion Island 38. Atrium Hotel at OC Airport 50. Hilton Orange County 28. Tower Jazz APARTMENT DEVELOPMENTS 39. Fairmont Newport Beach 8. Park Place 29. Aon Hewitt 17. Irvine Gateway 40. Hilton Irvine 30. Allergan, Inc. RECREATION 18. The Alton 41. Irvine Marriott 31. Mindspeed Technologies 9. AMC Tustin 14 19. Park Place 42. Residence Inn Irvine 32. The Irvine Company 10. Bowlmor Orange County 20. Metropolis 43. Courtyard Irvine 33. PIMCO 11. Rancho San Joaquin Golf 21. Elements 44. Hyatt Regency Irvine 16 | COLLIERS INTERNATIONAL Research & Forecast Report ORANGE COUNTY | INDUSTRIAL Accelerating success. Q2 2016 >> Rents Rise As Industrial Space Remains Scarce ORANGE COUNTY INDUSTRIAL MARKET Key Takeaways Market Indicators | Relative to prior period Q2 2016> Average OVERVIEW asking rents continue to rise, up $0.04 PSF NNN Q2 2016 Forecast Orange(4.2%) County over industrial the previous market quarter.conditions remain at historically Vacancy healthy> levels.Industrial Although demand there was is apositive strong 449,200demand forSF newof net industrial absorp- Net Absorption buildings,tion developers recorded.