NNN INVESTMENT OPPORTUNITY National City | CA DON MOSER MIKE MOSER Lic. 00821359 Lic. 00977876 STRONG RETAIL CORRIDOR INVESTMENT OPPORTUNITY 858.523.2087 858.523.2089 1302 East Plaza Boulevard | National City | CA [email protected] [email protected] 1302 East Plaza Boulevard TABLE OF CONTENTS INVESTMENT HIGHLIGHTS 3 PROPERTY OVERVIEW 4 Demographics Aerial Map Location Map TENANT OVERVIEW 9 Tenant Profiles AREA OVERVIEW 10 National City Trade Area CONTACT 12 1302 East Plaza Boulevard INVESTMENT HIGHLIGHTS INVESTMENT HIGHLIGHTS • Three long term, Corporate NNN Leases • Redevelopment of highly visible corner pad building at the main entrance to high volume Seafood City • The subject pad building is in Smart & Final anchored project LOCATION HIGHLIGHTS • Pad building on main entrance of shopping center anchored by high performing Seafood City • Densely populated trade area • Access to three major highways (Interstate 5, Interstate 805 and Highway 54) • Signalized corner on high traffic street • Building is surrounded by national tenants such as Walmart, Big Lots, CVS, Carl’s Jr and many others 1302 East Plaza Boulevard PROPERTY OVERVIEW PROPERTY OVERVIEW & INVESTMENT SUMMARY PROPERTY ADDRESS 1302 East Plaza Boulevard National City | CA Remodeled retail building leased to Mission Federal Credit Union and 85°Bakery with brand new 10 year leases, as well as Bank of America ATM with long standing success. Mission Federal Credit Union TENANTS 85° Bakery Bank of America ATM ASKING PRICE $6,500,000 CAP RATE 4.3% NET OPERATING INCOME $279,384.00 TOTAL BUILDING AREA ±5,946 SQ FT TOTAL LAND AREA 0.8 acres APN 557-322-11-00 DEMOGRAPHIC INFORMATION (3 miles projected 2016) YEAR BUILT 1995 Average Population 214,299 Average Household $54,083 YEAR REMODELED 2016 Income Daytime Population 105,288 ZONING C-36 (general commercial) TRAFFIC COUNTS Shared with Bay Plaza PARKING East Plaza Boulevard ±32,600 ADT Shopping Center 1302 East Plaza Boulevard AERIAL MAP E 8th St E Plaza Blvd SUBJECT PROPERTY 805 Highland Ave L Ave E Pl az a B lvd E 14th St E 16th St Palm Ave 1302 East Plaza Boulevard LOCATION MAP NEW DRIVE THRU E Plaza Blvd SITE L Ave SUBJECT PROPERTY Palm Ave E 16th St 1302 East Plaza Boulevard TENANT OVERVIEW TENANT PROFILE LEASE TERMS Mission Federal Credit Union is the largest locally-owned financial institution based in and exclusively serving San Diego County. Mission Federal was founded in 1961 and currently operates 30 branches throughout 2,952 SQ FT the county with a total asset base of $2.6B. Mission Fed is federally insured by SIZE: the National Credit Union Administration and is an Equal Housing Lender. Mission Fed is accredited by the Better Business Bureau. PRIMARY TERM: 10 Years and 5 Months Mission Fed was founded as a Public Schools Federal Credit Union, with membership open to those working in the educational community. In 1978, OPTION TO EXTEND: Two 5 Year Options The credit union changed its name to Mission Federal Credit Union and in 2003 expanded its membership to include all San Diegans. ANNUAL RENT/SF: $46.76 RENT INCREASES: 12 % Every 5 Years RE TAXES: Paid by Tenant CAM: Paid by Tenant INSURANCE: Paid by Tenant LEASE COMMENCEMENT: July 2015 WEBSITE: www.missionfed.com 1302 East Plaza Boulevard TENANT OVERVIEW TENANT PROFILE LEASE TERMS 85 °C Bakery Cafe is a Taiwanese chain of coffee shops and self-serve bakeries run by Gourmet Master Co., Ltd. The parent company, with an estimated yearly revenue of $200 million, was founded in 2004 by tea shop owner Wu 2,926 SQ FT Cheng-Hsueh and has over 800 branches located in Taiwan, Australia, and SIZE: the United States. They are known as the “Starbucks of Taiwan”, in 2009, the company opened its first US location in Irvine, California. The name “85°C” PRIMARY TERM: 10 Years and 5 Months refers to Wu’s belief that 85 °C (185 °F) is the optimal temperature to serve coffee. OPTION TO EXTEND: Two 5 Year Options The company also produces and sells birthday cakes, delicacy cakes, cake rolls, and specialty cakes; bread products, such as toast, Taiwanese/ Japanese/European/Danish bread, sandwiches, and donuts. Beverages ANNUAL RENT/SF: $42.00 include coffee, tea, milk tea, smoothies, shakes, and juices. In 2006, they opened the first store in Sydney, Australia and a year later, the first store was 12% Every 5 Years built in Shanghai, China. They continue rapid business expansion, and there RENT INCREASES: are currently 17 stores in Southern California operating under US corporate entity called Winpin 85 Investments, LLC. RENT: Paid by Tenant CAM: Paid by Tenant INSURANCE: Paid by Tenant LEASE COMMENCEMENT: August 2015 WEBSITE: www.85cafe.us 1302 East Plaza Boulevard TENANT OVERVIEW TENANT PROFILE ATM LEASE is an American multinational banking and financial Bank of America (BofA) services corporation CURRENT ANNUAL RENT: $18,432.00 Head quartered in Charlotte, North Carolina. It is the second largest bank holding company in the United States by assets. As of 2013, Bank of America LEASE TERM is the twenty-first largest company in the United States by total revenue. June 1, 2016 - May 31, 2020 (6TH OPTION TERM): In 2010, Forbes listed Bank of America as the third biggest company in the world. Bank of America provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and SIZE: Paid by Tenant mobile banking platforms. Its Consumer Real Estate Services segment offers consumer real estate products comprising fixed and adjustable-rate RENT INCREASES: 5% Annually first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credit, and home equity loans. WEBSITE: www.bankofamerica.com 1302 East Plaza Boulevard AREA OVERVIEW NATIONAL CITY TRADE AREA MAJOR EMPLOYERS NATIONAL CITY National City is located 5 miles south of downtown San Diego, on San Diego Bay in southern San Diego County, and 10 miles north of Baja California, Mexico. The City is bordered by San Diego to the north and east, Chula 1,138 Vista to the south San Diego Bay to the west. The estimated population PARADISE VALLEY HOSPITAL of National City is ±57,799. The City is centrally located, within 20 minutes travel time of over 1.4 million people. This accessibility is comparable to NATIONAL ELEMENTARY SCHOOL DISTRICT 462 Downtown San Diego’s. National City is developed with a mix of residential neighborhoods and SWEETWATER UNION HIGH SCHOOL DISTRICT 400 industrial and commercial uses. Port facilities and adjacent industrial developments located at the City’s bay front are important to the region’s economy. The “Mile of Cars” a mile long stretch of 21 car dealerships provides WAL-MART 400 a specialized, regional use with easy access from Interstate 5 and the South Bay Freeway (Route 54). At the other end of the City is Westfield Plaza Bonita, the largest regional mall in the South Bay. NMS MANAGEMENT 400 DIXIELINE PROBUILT 300 CITY OF NATIONAL CITY 285 BALL AUTOMOTIVE 200 MOSSY NISSAN 298 Retail Insite (hereinafter “RI”) has been retained this Investment Offering or any other written or is provided in sources available to the public as the exclusive advisor and broker regarding or oral communication transmitted or made (such contents as so limited herein are called the sale of the 1032 East Plaza Boulevard, available to the recipient. This Offering does the “Contents”), are of a confidential nature. By National City, CA property. not constitute a representation that there accepting the package, you agree (i) to hold has been no change in the business or affairs and treat it in the strictest confidence, (ii) not This Offering has been prepared by RI for use by a of the Property or the Owner since the date to photocopy or duplicate it, (iii) not to disclose limited number of parties and does not purport of preparation of the package. Analysis and the package or any of the contents to any other to provide a necessarily complete summary of verification of the information contained in entity (except to outside advisors retained the Property or any of the documents related this package is solely the responsibility of the by you, if necessary, for your determination thereto, nor does it purport to be all-inclusive prospective purchaser. Additional information of whether or not to make a proposal and or to contain all of the information which and an opportunity to inspect the Property from whom you have obtained an agreement prospective investors may need or desire. All will be made available upon written request to of confidentiality) without the prior written projections have been developed by RI, the interested and qualified prospective investors. authorization of Owner or RI, (iv) not use the Owner, and designated sources and are based package or any of the contents in any fashion or upon assumptions relating to the general Owner and RI each expressly reserve the right, manner detrimental to the interest of Owner or economy, competition, and other factors at their sole discretion, to reject any and all RI, and (v) to return it to RI immediately upon beyond the control of the Owner and, therefore, expressions of interest or offers regarding the request of RI or Owner. are subject to variation. No representation Property and/or terminate discussions with any is made by RI or Owner as to the accuracy or entity at any time with or without notice. Owner If you have no further interest in the Property, completeness of the information contained shall have no legal commitment or obligation please return this Investment Offering herein, and nothing contained herein is, or shall to any entity reviewing this Offering or making forthwith.