Central San Diego Credit Tenant Net Leased Investment Opportunity
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for sale central san diego credit tenant net leased investment opportunity 10655 Roselle Street SAN DIEGO, CA 92121 INVESTMENT HIGHLIGHTS THE TENANT • CREDIT SINGLE TENANT, NET-LEASED INVESTMENT OPPORTUNITY FILMETRICS • Leased thru 3/1/2024 w/ 3.5% annual escalations (one 3-year option @ FMV) • ± 22,275 SF HQ Creative Office Building • ± 39,204 SF Land Area THE WORLD’S SALES LEADER IN THIN-FILM THICKNESS MEASUREMENT • 60KW Solar Panels w/ Four EV Charging Stations Filmetrics, Inc., a KLA company, is a prime supplier of thin-film measurement and 3D optical surface profilers to • Retrofitted dimmable LED lighting throughout nearly every manufacturer of high-tech hardware in the world. 10655 Roselle Street is the headquarter location. Filmetrics operates six application labs in Los Angeles, Santa Clara, Rochester, Germany, South Korea and • Enclosed bicycle lockers and a shower for employees who bike to work Taiwan. • Ample parking KLA Corporation is a capital equipment company based in Milpitas, California. It supplies process control and • Central to Carmel Valley, Del Mar, UTC, Sorrento Mesa, Torrey Pines yield management systems for the semiconductor industry and other related nanoelectronics industries. The and La Jolla company’s products and services are intended for all phases of wafer, reticle, integrated circuit (IC) and packag- • Easy access to I-5, I-805 and CA 56 ing production, from research and development to final volume manufacturing. • Walk to Sorrento Valley Coaster Station KLA IS AN S&P 500 AND NASDAQ 100 COMPANY WITH A MARKET CAP OF OVER $27.8 BILLION. THEY HAVE OVER 10,000 EMPLOYEES AND REVENUES OVER $4 BILLION. • Annual Net Rent: $705,472 www.kla.com SALE PRICE: $11,850,000 (6.0% Cap Rate) Sorrento Valley Road 805 Roselle St. 5 Sorrento Valley Blvd. Please contact: BRENT BOHLKEN RON MAGNAGHI Senior Managing Director Senior Managing Director 858.875.3616 858.875.3611 3 3 [email protected] [email protected] CA RE Lic. #01022607 CA RE Lic. #01127146 THE SPACE RECEPTION AREA BREAK ROOM OPEN OFFICE CONFERENCE ROOM REAR TECH ACCESS 2ND FLOOR BREAK ROOM 4 5 THE SITE THE FLOOR PLAN EXISTING PROPERTY LINE GL ± 22,275 SF TRASH ENCLOSURE GL LEVEL 1 1 3/32" = 1'-0" SMALL ROSELLE ST. OFFICE OFFICE OFFICE CONF. OFFICE SITE PLAN 1 1/16" = 1'-0" BREAK ROOM 0'8' 16' 32' 64' BREAK AREA BREAK AREA IT WOMENS UTIL. SUSTAINABILITY FEATURES RESTROOM PERSONAL OFFICE 16 CLOSET FLOOR BELOW OPEN TO FIRST PERSONAL • 60 KW Solar Array CLOSET OFFICE PERSONAL MENS RESTROOM CLOSET • Four (4) Level 2 EV Charging spaces 17 • Dimmable LED Lighting Throughout CONF. ROOM. SMALL OFFICE OFFICEOFFICE CONF. LEVEL 2 2 3/32" = 1'-0" 6 7 MARKET UPDATE SORRENTO VALLEY |OFFICE 4Q 2019 | 4Q SNAPSHOT 2019 SNAPSHOT SORRENTO VALLEY 3.8523,275 M SF SF $2.80Q12015 PSF Sorrento ValleyValley isis a a premier, premier, centrally centrally located located CENTRALLY LOCATED TO MANY OF INVENTORYOFFICE INVENTORY SORRENTO SORRENTO VALLEY VALLEY AVERAGELAST BUILDING STARTING DELIVERED RENT (53K SF) officesubmarket submarket primarily primarily known forknown its Techfor its and unique life SAN DIEGO’S PREMIER EXECUTIVE 2-4K Lease comps 24 months office/flexscience companies. buildings Located which at now the attractjunction major HOUSING NEIGHBORHOODS of three major freeways (5, 805 and SR-56), life science tenants. Located at the junction Ideal Location Sorrento Valley is in close proximity to many 0 SF 0+6.5% of three major freeways (5, 805 and SR-56), MARKET RENT INCREASE FROM 3Q19 of San Diego’s premier neighborhoods. UNDER CONSTRUCTION SINGLE TENANT CONDOS FOR SALE CommutersSorrento Valley benefit is centrally from direct located freeway to accessmany asof wellSan as Diego’s a dedicated premier NCTD executive Coaster station.housing neighborhoods. Commuters from North County RANCHO The market has strong fundamentals and is BERNARDO POWAY 147,874 $132,521 supplybenefit constraint from direct with freeway virtually access no available as well as a +5.1% 5 MARKETDAYTIME RENT POPULATION INCREASE (3-MILE FROM 3Q19RADIUS) AVG. HOUSEHOLD INCOME (3-MILE RADIUS) landdedicated for new Coaster development. station. Many companies SORRENTO VALLEY SCRIPPS Theand officeinvestors market have hasinvested been invigoratedheavily in building by large RANCH improvements in this market to support tech MIRAMAR acquisitions by several major biotech players and lab users. Sorrento Valley is particularly UTC 15 attractiveincluding Longfellowfor life sciences Real usersEstate due Partners to its and LA JOLLA 805 proximityAlexandria to Real research Estate institutions Equities, andwho UCSD. plan to renovate aging buildings to attract office and Vacancy rates are near a 10-year low and lab users. Sorrento Valley is attractive for life asking rents reached an all-time high during thesciences third quarterusers due of 2019. to its Theproximity geographic to research constraintsinstitutions inof UTCthe valley and Torrey make Pinesnew development difficult, so as tenant demand DOWNTOWN UTC Vacancy rates are near a 10-year low, and asking UTC has increased rents have risen in kind due to rents reached an all-time high during the third the lack of new inventory. SORRENTO MESA quarter of 2019. The geographic constraints of Sorrento Valley the valley make new development difficult, so 805 5 as office demand has increased over the last Major Industries 5 couple of years rents have risen in kind due to TORREY PINES the lack of new inventory. There have been no new office projects delivered in Sorrento Valley BioTech Education since 2015, and there are no projects currently SORRENTO VALLEY in the development pipeline. Healthcare Engineering 8 9 10655 Inovio roselle Pharmaceuticals Intertek PACIFIC OCEAN Orphagen Pharmaceuticals Pharmaceuticals Services Dassault Systems Biovia Drawbridge Quidel Sorrento Health Curology Apple Therapeutics NuVasive Invivoscribe Omniome Dexcom Ajinomoto Histogen Ligand Althea, Inc. Suneva PPD Pharmaceuticals HUB Qualcomm Medical Beckton Beckton Dickinson Xeris Dickinson Kalypsys, Inc. Pharmaceuticals USE Advantar Labs Qualcomm Metracrine, Inc. SONY Credit Union Qualcomm CUE Health Ethertronics LUSK BLVD. Eton Bioscience Biomatrica Inception Sciences, Inc. MIRA MESA BLVD. Accelagen Inc. C A R BPA Bioscience R O L L Miltenyl CA NY Biotec ON RD Cylene PACIFIC HEIGHTS BLVD. Pharmaceuticals Tristan PhenoVista Technologies A Thriving Office, Tech & Life Science Market Biosciences SORRENTO VALLEY | SORRENTO MESA Ginolis CORPORATE NEIGHBORS Cellular Mesa Reprogramming Biotech, Inc. 10 11 for sale central san diego credit tenant net leased investment opportunity 10655 Roselle Street SAN DIEGO, CA 92121 Please contact: BRENT BOHLKEN RON MAGNAGHI NEWMARK KNIGHT FRANK Senior Managing Director Senior Managing Director 4655 Executive Drive, Suite 800 858.875.3616 858.875.3611 San Diego, CA 92121 [email protected] [email protected] 858.875.3600 CA RE Lic. #01022607 CA RE Lic. #01127146 www.ngkf.com Corporate License #01355491 Although all information furnished regarding property for sale, lease, or financing has been obtained from sources deemed to be reliable, that information has not been verified by NKF and no express representation is made nor is any to be implied as to the accuracy thereof. That information is subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by NKF’s client..