5010 Centennial Boulevard Piñon Valley Industrial Park Office Flex Portfolio for Sale Two separate buildings on Centennial Boulevard Colorado Springs, Colorado 5030 Centennial Boulevard I. Execu ve Summary The Offering Bid Due Date: October 18, 2012 As exclusive sales agents, Jones Lang LaSalle and Quantum Commercial Group in Colorado Springs are pleased to offer for sale two (2) buildings collec vely known as the Piñon Valley Industrial Park Por olio, “the Proper es,” in Colorado Springs, Colorado. Ideally situated in Colorado Springs’, Garden of the Gods Submarket, the Proper es’ excellent loca on fron ng Centennial Boulevard provides highly flexible space to meet a mul tude of tenant requirements. Neighboring buildings are home to such businesses as; Hewle -Packard, Verizon, Intel, Kaman Sciences, Agilent Technologies, ITT Technologies, LSI Logic, Wells Fargo, Entegris, Safetrain, Xircom, Aeroflex, Tuscarora, Velcon Filters, Eagle Electronics, The Navigators World Headquarters, etc. Piñon Valley Industrial Park Por olio — Property Highlights 5010 Centennial Boulevard 5030 Centennial Boulevard 2,930,000 ($85.67/ s.f.) 1,243,200 ($35.00 / s.f.) $ 205,200 N/A 7.00% N/A 10 years N/A 1983 1987 34,200 s.f. 35,520 s.f. Stories 1 1 Leased 100% 0% Lot Size 2.16 acres 2.415 acres Ceiling Height 14’0” - 16’0” 14’0” - 16’0” Parking Ra o 2.34 : 1,000 s.f. 2.39 : 1,000 s.f. Price In Place NOI Capitaliza on Rate Lease Term Year Built Rentable Square Feet Sale Specifics Each building offers unique characteris cs which set it apart from the compe on; above standard power, abundant parking, flexible floorplates, Centennial Boulevard frontage and access, etc. The buildings can be purchased individually or as a package and offer excellent opportuni es for individual building sales to users or as an investment sale with a long term credit tenant in place and a value add component. Demographics Piñon Valley Industrial Park — Demographics 1 Mile 3 Miles 5 Miles Popula on 7,086 47,869 131,363 Total Households 2,794 19,643 54,867 Number of Employees (Full Time) 4,804 32,454 82,054 Number of Establishments 270 1,917 5,748 Average Age 39 40 39 $91,922 $84,368 $74,117 Average Household Income Piñon Valley Industrial Park — Traffic Counts Street Cross Street Traffic Count Distance Centennial Boulevard List Drive 20,612 0.29 miles North 30 Street Boardwalk Street 8,042 0.36 miles Centennial Boulevard West Garden of the Gods Road 21,000 0.50 miles West Garden of the Gods Road I-25 50,587 1.47 miles th II. Tenancy / Lease Overview 5010 Centennial Boulevard - Rent Roll Suite Tenant Rentable SF Lease Commencement Lease Expiration Current Annualized Rent Current Annualized Rent PSF Rent Step Dates Rent PSF / Year Annual Rent 100 Federal Express 34,200 s.f. 11/1/12 10/31/22 $205,200 $6.00 5/1/15 11/1/17 8/1/20 $6.15 $6.30 $6.45 $210,330 $215,460 $220,590 * Initial date of occupancy was 10/1/1984 Currently under a LOI which will extend the FedEx lease for a full ten (10) year lease term. *Federal Express has renewed for a ten (10) year lease term. 5030 Centennial Boulevard - Rent Roll Suite Tenant Rentable SF Lease Commencement Lease Expiration Current Annualized Rent Current Annualized Rent PSF Rent Step Dates Rent PSF / Year Annual Rent 100 Vacant 35,520 - - - - - - - III. Market Overview Colorado Springs Colorado Springs is located 61 miles south of Denver at the base of Pikes Peak. The city is 186 square miles making it Colorado’s largest. And, with a popula on of 380,307, Colorado Springs is Colorado’s second most populous city. The Colorado Spring Metropolitan Area (CSMA) encompasses El Paso County and Teller County— an area comprised of 2,689 square miles with a popula on of 617,714. During the past seven decades, the area has sustained a steady and impressive rate of growth. The largest increase of 93 percent occurred between 1950 and 1960 coincidental with the establishment of the North American Air Defense Command (NORAD) and the United States Air Force Academy. Since 2000, The CSMA has realized an average annualized popula on growth rate of 1.7 percent. The economy in the area is driven by the military, high-tech industries, aerospace, and tourism. There are five military installa ons: Fort Carson, Peterson Air Force Base, Schriever Air Force Base, NORAD and Cheyenne Mountain Air Sta on, and the United States Air Force Academy. The military employs one fi h of the work force while infusing almost $2.6 billion into the local economy every year. Airforce Academy Addi onally, Colorado Springs has five school districts with over 145 elementary, middle, and high schools. And, there are more than 20 colleges and universi es and 30 voca onal two-year schools in the area. The city was named America’s Best city by Outside Magazine in 2009. Colorado Springs was originally founded in 1871 as a high quality resort city. It has since maintained a large tourism industry due to the world-class accommoda ons, scenery, and lifestyle. Some of the more popular sightseeing des na ons are the Garden of the Gods, Pikes Peak (America’s Mountain), Pikes Peak Cog Railway, Cheyenne Mountain Zoo the United States Olympic Headquarters, and Cheyenne Mountain Zoo. Colorado Springs is also home to the world-renowned Broadmoor Hotel. Founded as a casino, it has become one of the finest resorts along the Rocky Mountains with a mobile five-star and AAA five-diamond resort ra ng. It employs nearly 2,000 people from all over the world and draws thousands of visitors every year. Addi onally, the Broadmoor’s tennis facili es are ranked #3 by Tennis Magazine. Broadmoor Hotel Colorado Springs Submarket Map IV. Pricing Guidelines - Asking Price TOTAL PORTFOLIO $4,173,200 5010 Centennial Boulevard - $2,930,000 ($85.67 PSF) 5030 Centennial Boulevard - $1,243,200 ($35.00 PSF) CAPITALIZATION RATE 7.00% for 5010 Centennial Boulevard only on the 10 year Federal Express lease term. V. Property Descrip on 5010 Centennial Boulevard • FedEx Building Size: Land Area: Construc on: Roof: HVAC: Electrical: Loading: Fiber Op cs: Fire Protec on: Ceiling Height: Zoning: Parking: Year Built: Property Descrip on: Lease Term Expira on: Use: Roof: Insurance: Current NOI: Sales Price: 34,200 SF 2.16 Acres Masonry Twin-tee concrete structure – Insulated Goodyear SPM rubber roof with rock ballast. Year built - original En re building is 100% air-condi oned. Roof top combina on unit in office area and por on of the produc on area. Ceiling hung unit heater in produc on and shipping area. Air-condi oned in produc on area provided by roof mounted swamp coolers. Primary service is 800 Amps, 3 Phase, 277/480 Volts. Typical ligh ng in general office and sort-area. 4 – 12’ x 12’ drive-in doors 1 – 14’ x 14’ drive-in door 1 – 10’ x 10’ dock-high overhead door Located at property line Sprinklers 14’ – 16’ clear PIP-2 80 spaces – 2.34 per 1,000 SF 1983 Lot 2 Pinion Valley Industrial Park fil No 3 10 years / 10-31-2017 Transporta on of high priority packages, documents and electronic transporta on Landlord’s responsibility to maintain ($1,950 for 2011) Tenant’s responsibility to maintain fire insurance for structural shell ($2,100 for 2011) $205,200 $2,930,000 Property Descrip on 5030 Centennial Boulevard Size: Fiber Op cs: 9,600 SF Office 24,600 SF Produc on / Process, 1,320 SF Chemical Storage 35,520 SF Total Building Size 2.415 Acres with 34% lot coverage All exterior walls are 8” insulated precast concrete Precast concrete twin-tee structural roof system Roof protec on is insulated Carlisle SPM system with rock ballast system. Year built - original. En re building is heated and air-condi oned with a redundant boiler/chiller system with Robert Shaw DMS – 350 A digital monitoring and control system. Air-handling and special treatment equipment for manufacturing advanced printed circuit boards. One class 100 clean room. One class 1000 clean room. 2,500 Amp, 3 Phase, 277/480 Voltage, 40 kw backup diesel-powered generator One (1) 10’ x 10’ dock-high overhead door with dock leveler One (1) 12’ x 12’ drive-in overhead door Located at property line Fire Protec on: Automa c sprinkling system, type #11 ra ng Ceiling Height: 14’ – 16’ clear Zoning: PIP-2 Parking: 85 spaces – 2.39 per 1,000 SF Year Built: 1987 Property Descrip on: Lot 1 Pinion Valley Industrial Park Fil No 3 Phase I & II: Available Lease Price: $5.50 PSF NNN Sales Price: $1,243,200 ($35.00 PSF) Land Area: Construc on: Roof: HVAC: Electrical: Loading: 5030 CENTENNIAL BOULEVARD 35,520 RSF VI. Opera ng Expenses 5010 CENTENNIAL BOULEVARD 34,200 RSF Expenses 2012 Es mate 2012 Es mate / S.F. CAM $7,182.00 $0.21 Property Taxes $40,212.00 $1.18 Insurance $5,130.00 $0.15 Total $52,524.00 $1.54 Expenses 2012 Es mate 2012 Es mate / S.F. CAM $7,455.00 $0.21 Property Taxes $16,981.00 $0.48 Insurance $5,325.00 $0.15 Total $29,761.00 $0.84 5030 CENTENNIAL BOULEVARD 35,520 RSF Contacts Mitchell H. Zatz, SIOR +1 303 217 7972 [email protected] Michael Palmer +1 719 228 3626 [email protected] VII. Disclaimer This Brochure is provided for the sole purpose of allowing a potential investor to evaluate whether there is interest in proceeding with further discussions regarding a possible purchase of or investment in 5010 & 5030 (“the Property” or “Piñon Valley Industrial Park Por olio”). The poten al investor is urged to perform its own examina on and inspec on of the Property and informa on rela ng to same, and shall rely solely on such examina on and inves ga on and not on this Brochure or any materials, statements or informa on contained herein or otherwise provided. Neither Jones Lang LaSalle Americas, Inc. nor the Receiver, nor any of their respec ve partners, directors, officers, employees, shareholders and agents (collec vely, “Agents”), make any representa ons or warran es, whether express or implied, by opera on of law or otherwise, with respect to this Brochure or the Property or any materials, statements (including financial statements and projec ons) or informa on contained herein or rela ng thereto, or as to the accuracy or completeness of such materials, statements or informa on, or as to the condi on, quality or fitness of the Property, or assumes any responsibility with respect thereto. Such materials, statements and informa on have in many circumstances been obtained from outside sources, and have not been tested or verified. Projec ons, in par cular, are based on various assump ons and subjec ve determina ons as to which no guaranty or assurance can be given. Without limi ng the foregoing, in the event this Brochure contains informa on rela ng to asbestos or any other hazardous, toxic or dangerous chemical, item, waste or substance (“Hazardous Materials”) in rela on to the Property, such informa on shall in no way be construed as crea ng any warran es or representa ons, expressed or implied, by operation of law or otherwise, by Agents or the Receiver, as to the existence or non-existence or nature of Hazardous Materials in, under, on or around the Property. This Brochure is provided subject to errors, omissions, change of price or terms and other changes to the materials, statements and informa on contained herein or rela ng to the Property, and is subject to withdrawal, all without no ce. The contents hereof are confiden al and are not to be reproduced or distributed to any person or en ty without the prior wri en consent of Agents or used for any purpose other than ini al evalua on as indicated above. 1225 Seventeenth Street Suite 1900 • Denver Colorado 80202 tel +1 303 260 6500 fax +1 303 260 6501 101 North Cascade Ave, Suite 200 • Colorado Springs, Colorado 80903 tel +1 719 590 1717 fax +1 719 634 0404
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