NORTHGATE BUSINESS CENTER
OFFERING
900 W. North Market Boulevard and 4237 South Market Court
Sacramento, CA
±29,000 Square Feet
Presented by:
Kevin Jasper, SIOR
Senior Managing Director
916.569.2325
CA RE License #01164925
Jeff Kvarme
Associate
916.569.2333
CA RE License #01924968
Property Highlights
•
±29,000 square foot leased
•
Ample parking
investment or owner/user
•
Easy access to I-80 and I-5
•
Extensive insulation and conditioning
opportunity
•
Two (2) multi-tenant buildings
•
900 W. North Market Boulevard -
•
throughout many of the warehouses
•
900 W. North Market Boulevard
±16,000 square feet on ±1.11 acres
contains 66.6% office buildout and
4237 South Market Court - ±13,000
4237 South Market Court contains
square feet on ±.88 acres
40.9%
•
Concrete block construction
•
Mature landscaping
•
North Market Boulevard exposure
•
Priced well below replacement costs
•
Grade level loading
•
MP Zoning (can accommodate 100%
office)
CONFIDENTIALITY AGREEMENT
PROPERTY:
900 W. NORTH MARKET BOULEVARD & 4237 SOUTH MARKET COURT, SACRAMENTO, CA
Cornish & Carey Commercial dba Newmark Cornish & Carey (“NCC”) has been authorized by Shipway Investment Co, a
Limited Partnership, dba Northgate Business Center (the “Owner”) to distribute information with respect to the offering for sale
of 900 W. North Market Boulevard & 4237 South Market Court (the “Property”). The Owner has requested that all inquiries
and communications with respect to the contemplated sale of such Property be directed to NCC.
NCC has available for review certain information concerning the Property which includes brochures and other materials
(collectively “Informational Materials”). NCC will not disclose such Informational Materials to Potential Purchaser unless and
until the Potential Purchaser has executed this Agreement. Upon NCC’s receipt of this executed Agreement, NCC is prepared
to provide the Informational Materials for the Potential Purchaser’s consideration in connection with the possible purchase of
the Property subject to the following conditions:
1.
All Information Materials pertaining to the Property which may be furnished to the Potential Purchaser shall
continue to be the property of the Owner and NCC. The Informational Materials will be used solely for the
purpose of the Potential Purchaser and may not be copied or duplicated without NCC written consent and
must be returned to NCC immediately upon NCC’s request or when negotiations terminate with respect to
the Property.
2.
The Informational Materials may be disclosed to the Potential Purchaser’s partners, employees, legal
counsel and institutional lenders (“Related Parties”), for the purpose of evaluating the potential purchase of
the Property. Potential Purchaser will (i) inform all Related Parties of the confidential nature of the
Informational Materials and the other provisions of this Agreement, (ii) direct all Related Parties to keep all
such information in the strictest confidence and to use such information only for the purpose of assisting or
advising Potential Purchaser in evaluating the Property, and (iii) be responsible for the failure by any Related
Party to maintain the confidence of the Informational Materials or for the breach of this Agreement by any
Related Party. Potential Purchaser will take all necessary and appropriate action to safeguard the
Informational Materials from disclosure by it or any Related Party to anyone, except as expressly permitted
hereby.
3.
The Potential Purchaser understands and acknowledges that NCC and the Owner do not make any
representations or warranty as to the accuracy or completeness of the Informational Materials and that much
of the information used in the preparation of the Informational Materials was furnished to NCC by others and
has not been independently verified by NCC and is not guaranteed as to completeness or accuracy.
4.
The Potential Purchaser hereby indemnifies and holds harmless NCC and the Owner and their respective
affiliates and successors and assigns against and from any loss, liability or expense, including attorney’s
fees, arising out of any breach of any of the terms of this Agreement. This Agreement will be governed by,
and construed in accordance with, the laws of the State of California.
5.
The Potential Purchaser acknowledges that the Property has been offered for sale subject to withdrawal
from the market, change in offering price, prior sale or rejection of any offer because of the terms thereof,
lack of satisfactory credit references of any Prospective Purchaser, or for any other reason whatsoever,
without notice. The Potential Purchaser acknowledges that the Property is being offered without regard to
race, creed, sex, religion or national origin. This Agreement terminates one (1) year from the date hereof
except as to written claims by Owner against Potential Purchaser prior hereto.
6.
To ensure buyers are not registered through multiple brokerage firms, Buyer must name the cooperating
Broker as his/her Broker in writing prior to submissions of informational materials. A cooperating brokerage
commissions of 2.5% of the Gross Purchase Price is payable at close of escrow to the broker if and only if
the subject property is sold to the prospective Buyer registered below and Cornish & Carey Commercial dba
Newmark Cornish & Carey receives the commission as agreed to in the Listing Agreement with the Owner.
If in agreement with the foregoing, please return one original signed copy of this agreement to NCC (Attention: Kevin
Jasper, Cornish & Carey Commercial dba Newmark Cornish & Carey, 980 9TH Street, Sacramento, CA 95814; Phone
(916) 569-2325; Fax (916) 920-0854) E-Mail – [email protected])
PROSPECTIVE PURCHASER
COMPANY:
BROKER
COMPANY:
SIGNED BY:
SIGNED BY:
PRINT NAME:
PRINT NAME:
TITLE:
TITLE:
ADDRESS
ADDRESS
CITY:
STATE:
ZIP:
CITY:
PHONE:
PHONE:
E-MAIL:
E-MAIL:
STATE:
\\sacfile2\staff\22A-Agents\Kvarme\BOV's & OOV\900 W North Market Blvd & 4237 South Market Ct 4-6-16\900 W North Market Blvd & 4237 South Market Ct CA 5-4-16KMJlf.doc
ZIP:
Property Summary
Northgate Business Center
Total Square Footage
Purchase Price
±29,000 SF
$2,320,000 ($80/SF)
Gross Rent*
$242,628
5% Vacancy
($12,131)
Gross Income
$230,497
Operating Expenses
($75,168)
Net Operating Income
$155,329
Capitalization Rate
6.7%
Annualized Operating Expenses Breakdown**
• Utilities
• Janitorial
• HVAC
• Repair/Maintenance
• Lot & Landscaping
• Property Insurance
• RE Taxes (post closing)
Total Estimated Expenses
$8,700
$1,044
$4,872
$9,048
$13,920
$8,004
$29,580
$75,168
* Pro-Forma Evaluation assumes $0.60/SF, NNN rent for all vacancies as of 1/1/17
** 2016 Budget estimate
Property Summary
900 W. North Market Boulevard
Total Square Footage
Purchase Price
±16,000 SF
$1,280,000 ($80/SF)
Gross Rent*
$129,408
5% Vacancy
($6,470)
Gross Income
$122,938
Operating Expenses
($41,472)
Net Operating Income
$81,466
Capitalization Rate
6.3%
Annualized Operating Expenses Breakdown**
• Utilities
• Janitorial
• HVAC
• Repair/Maintenance
• Lot & Landscaping
• Property Insurance
• RE Taxes (post closing)
Total Estimated Expenses
$4,800
$576
$2,688
$4,992
$7,680
$4,416
$16,320
$41,472
* Pro-Forma Evaluation assumes $0.60/SF, NNN rent for all vacancies as of 1/1/17
** 2016 Budget estimate
Property Summary
4237 S. Market Court
Total Square Footage
Purchase Price
±13,000 SF
$1,040,000 ($80/SF)
Gross Rent*
$113,220
5% Vacancy
($5,661)
Gross Income
$107,559
Operating Expenses
($33,696)
Net Operating Income
$73,863
Capitalization Rate
7.1%
Annualized Operating Expenses Breakdown**
• Utilities
• Janitorial
• HVAC
• Repair/Maintenance
• Lot & Landscaping
• Property Insurance (post closing)
• RE Taxes (post closing)
Total Estimated Expenses
$3,900
$468
$2,184
$4,056
$6,240
$3,588
$13,260
$33,696
* Pro-Forma Evaluation assumes $0.60/SF, NNN rent for all vacancies as of 1/1/17
** 2016 Budget estimate
Property Aerials
Project Overview
900 W. North Market Boulevard
Suites C through G totaling ±10,152 SF potentially available for occupancy
by owner/user
Project Overview
4237 South Market Court
Suites A, B, C, E, G-H, totaling ±9,750 SF potentially available for
occupancy by owner/user
Property Parcel Map
Property Location &
Regional Maps
Presented by:
Kevin Jasper, SIOR
Senior Managing Director
916.569.2325
CA RE License #01164925
Jeff Kvarme
Associate
916.569.2333
CA RE License #01924968
Newmark Cornish & Carey | 980 Ninth Street, Suite 2500 | Sacramento, CA 95814
Newmark Cornish & Carey (“Broker”) has been retained and authorized by the Property Owner (“Owner”) to distribute the enclosed
information for the purpose of soliciting offers to purchase from interested parties. Neither Broker nor Owner makes any
representation or warranty, expressed or implied, as to the completeness or accuracy of the material contained in this investment
offering.
Prospective buyers of the property are advised and encouraged to conduct their own comprehensive review and analysis. Although
we have obtained the information contained herein from sources we believe to be reliable, we have not verified its accuracy and
make no guarantee, warranty or representation about it. It is subject to the possibility of errors, omissions, change of price, rental or
other conditions, prior sale, lease or financing. We have included projections, opinions, assumptions or estimates for example only,
and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your
own investigation of the property and transaction.