PRICING & FINANCIAL ANALYSIS
10849 Fruitland Dr, Studio City, CA 91604
PREPARED FOR
Melody Torbati
TABLE OF
Contents CONTENTS
SECTION
Property Overview
01
Financial Analysis
02
Comparables
03
Location Overview
04
James Capital Advantage
05
MEET YOUR ADVISORS
danny spiwak Associate (424) 325-2645
MIke HANASSAB Senior Director (424) 325-2642
ELLIOT HASSAN Senior Director (424) 325-2643
10849 FRUITLAND DR, STUDIO CITY, CA 91604
10849 FRUITLAND DR
STUDIO CITY, CA 91604
4
SECTION ONE
PROPERTY OVERVIEW
5
10849 FRUITLAND DR, STUDIO CITY, CA 91604
PROPERTY OVERVIEW
DETAILS
Street Address City State Zip Code APN
Studio City CA 91604 2378-004-019
Number of Units Occupancy
24 Units
Flat
Parking
Subterranean Parking
Number of Buildings
1
Zoning
R3
Number of Stories
3
Unit Mix
Water
Master-Metered
26,514 SF
Electric
Individually Metered
Lot Size
14,996 SF
Gas
Individually Metered
Construction
Wood-Frame Stucco
2002
Roof
100%
Rentable Square Feet
Year Built
6
10849 Fruitland Dr
(12) 2 Bed / 2 Bath (12) 3 Bed / 2 Bath
PROPERTY OVERVIEW
property photos
7
10849 FRUITLAND DR, STUDIO CITY, CA 91604
PROPERTY OVERVIEW
property photos
8
10849 FRUITLAND DR
STUDIO CITY, CA 91604
10
SECTION TWO
FINANCIAL ANALYSIS
11
10849 FRUITLAND DR, STUDIO CITY, CA 91604
FINANCIAL ANALYSIS
PRICING ANALYSIS
$11,000,000 Price Price per Unit Price per Square Foot
CURRENT
PRO FORMA
4.31%
5.46%
15.13
12.73
$705,326
$838,080
Expenses
$231,729
$237,203
NOI
$473,597
$600,877
CAP Rate GRM
$11,000,000 $458,333 $414.88
Gross Income
This information has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless James Capital Advisors, Inc. from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.
12
FINANCIAL ANALYSIS
FINANCING
Down Payment
$4,400,000
Loan Amount
$6,600,000
Interest Rate
3.75%
Amortization / Fixed-Period
30 Years / 5 Years
Term
13
360 Months
CURRENT
PRO FORMA
Debt Service
-$366,788
-$366,788
Pre-Tax Cash Flow
$106,810
Principle Reduction
$121,359
Total Return
$228,169
(2.43%)
$234,089
(5.32%)
$121,359 (5.19%)
$355,449
(8.08%)
10849 FRUITLAND DR, STUDIO CITY, CA 91604
FINANCIAL ANALYSIS
INCOME AND EXPENSE ANNUAL
INCOME
CURRENT
PRO FORMA
Base Rental Income
$727,140
Gross Potential Income
ANNUAL
EXPENSE
CURRENT
PRO FORMA
$864,000
Property Taxes
$128,700
$128,700
$727,140
$864,000
Insurance
$6,800
$6,800
Vacancy Allowance
$21,814
$25,920
Utilities
$22,800
$22,800
Effective Gross Income
$705,326
$838,080
Elevator
$3,250
$3,250
Operating Expenses
$231,729
$237,203
Telephone
$888
$888
Net Operating Income
$473,597
$600,877
Repairs & Maintenance
$12,000
$12,000
Trash
$7,515
$7,515
On-Site Manager
$7,200
$7,200
Management Fee
$29,086
$34,560
Janitorial
$3,200
$3,200
Pest Control
$900
$900
Landscaping
$1,200
$1,200
Direct Assessments
$2,790
$2,790
Reserves
$5,400
$5,400
Operating Expenses
$231,729
$237,203
* Some Expenses Are Estimated
14
FINANCIAL ANALYSIS
RENT SCHEDULE
16
PRO FORMA
PRO FORMA
$2.28
$2,800
$2.80
$1,700
$1.70
$2,800
$2.80
1,000 SF
$2,345
$2.35
$2,800
$2.80
3 Bed / 2 Bath
1,200 SF
$2,750
$2.29
$3,200
$2.67
105
3 Bed / 2 Bath
1,200 SF
$2,800
$2.33
$3,200
$2.67
106
2 Bed / 2 Bath
1,000 SF
$2,275
$2.28
$2,800
$2.80
107
3 Bed / 2 Bath
1,200 SF
$2,750
$2.29
$3,200
$2.67
108
2 Bed / 2 Bath
1,000 SF
$2,300
$2.30
$2,800
$2.80
201
3 Bed / 2 Bath
1,200 SF
$2,900
$2.42
$3,200
$2.67
202
2 Bed / 2 Bath
1,000 SF
$2,300
$2.30
$2,800
$2.80
203
2 Bed / 2 Bath
1,000 SF
$2,295
$2.30
$2,800
$2.80
204
3 Bed / 2 Bath
1,200 SF
$2,835
$2.36
$3,200
$2.67
205
3 Bed / 2 Bath
1,200 SF
$2,600
$2.17
$3,200
$2.67
206
3 Bed / 2 Bath
1,200 SF
$2,275
$1.90
$3,200
$2.67
207
3 Bed / 2 Bath
1,200 SF
$2,800
$2.33
$3,200
$2.67
208
2 Bed / 2 Bath
1,000 SF
$2,500
$2.50
$2,800
$2.80
UNIT #
UNIT TYPE
SQ. FOOTAGE
RENT
RENT PER SF
101
2 Bed / 2 Bath
1,000 SF
$2,280
102*
2 Bed / 2 Bath
1,000 SF
103
2 Bed / 2 Bath
104
RENT
RENT PER SF
FINANCIAL ANALYSIS
RENT SCHEDULE
PRO FORMA
PRO FORMA
$2.42
$3,200
$2.67
$2,395
$2.40
$2,800
$2.80
1,000 SF
$2,325
$2.33
$2,800
$2.80
3 Bed / 2 Bath
1,200 SF
$2,850
$2.38
$3,200
$2.67
305
3 Bed / 2 Bath
1,200 SF
$2,850
$2.38
$3,200
$2.67
306
2 Bed / 2 Bath
1,000 SF
$2,200
$2.20
$2,800
$2.80
307
3 Bed / 2 Bath
1,200 SF
$3,075
$2.56
$3,200
$2.67
308
2 Bed / 2 Bath
1,000 SF
$2,295
$2.30
$2,800
$2.80
26,400 SF
$60,595
UNIT #
UNIT TYPE
SQ. FOOTAGE
RENT
RENT PER SF
301
3 Bed / 2 Bath
1,200 SF
$2,900
302
2 Bed / 2 Bath
1,000 SF
303
2 Bed / 2 Bath
304
TOTAL
RENT
RENT PER SF
$72,000
* Manager’s Unit
17
10849 FRUITLAND DR, STUDIO CITY, CA 91604
10849 FRUITLAND DR
STUDIO CITY, CA 91604
18
SECTION THREE
COMPARABLES
19
10849 FRUITLAND DR, STUDIO CITY, CA 91604
COMPARABLES
SALES COMPARABLES
20
#
ADDRESS
SALE PRICE
# OF UNITS
CAP RATE
GRM
PRICE / UNIT
PRICE / SF
01
12659 Moorpark St, Studio City, CA 91604
$9,300,000
28 Units
4.01%
17.80
$332,143
$278
02
4341 Ventura Canyon Ave, Sherman Oaks, CA 91423
$7,000,000
15 Units
3.71%
17.75
$466,667
$430
03
4610 Natick Ave, Sherman Oaks, CA 91403
$10,250,000
36 Units
3.64%
15.75
$284,722
$453
04
10650-10656 Moorpark St, West Toluca Lake, CA 91602
$16,425,000
40 Units
4.02%
14.95
$410,625
$375
05
4297 Coldwater Canyon Ave, Studio City, CA 91604
$6,500,000
10 Units
5.08%
13.06
$650,000
$327
06
4417 Hazeltine Ave, Sherman Oaks, CA 91423
$9,000,000
24 Units
3.07%
17.22
$375,000
$398
COMPARABLES
SALES COMPARABLES
01
10849 Fruitland Dr
12659 Moorpark St
Studio City, CA 91604
Close of Escrow
Sherman Oaks, CA 91423
6/13/2019
Close of Escrow
3/19/2019
List Price
$11,000,000
Sale Price
$9,300,000
Sale Price
$7,000,000
CAP Rate
4.31%
CAP Rate
4.01%
CAP Rate
3.71%
GRM
17.80
GRM
17.75
GRM Number of Units Year Built
15.13 24 Units 2002
Number of Units Year Built
28 Units 1969
Number of Units Year Built
15 Units 1997
Rentable Square Feet
26,514 SF
Rentable Square Feet
33,384 SF
Rentable Square Feet
16,260 SF
Price per Square Foot
$414
Price per Square Foot
$278
Price per Square Foot
$430
Price per Unit Unit Mix
21
Close of Escrow
oSale Éå í
4341 Ventura Canyon Ave
Studio City, CA 91604
N/A
02
oSale Éå í
o Éå í Subject
$458,333 (12) 2 Bed / 2 Bath (12) 3 Bed / 2 Bath
Price per Unit Unit Mix
$332,143 (14) 1 Bed / 1 Bath (10) 2 Bed / 2 Bath (4) 3 Bed / 2 Bath
Price per Unit Unit Mix
$466,667 (1) Single / 1 Bath (1) 1 Bed / 1 Bath (13) 2 Bed / 2 Bath
10849 FRUITLAND DR, STUDIO CITY, CA 91604
COMPARABLES
SALES COMPARABLES
03
04
oSale Éå í
4610 Natick Ave
Sherman Oaks, CA 91403
Close of Escrow
4297 Coldwater Canyon Ave
Close of Escrow
Close of Escrow
Studio City, CA 91604
4/16/2019
8/26/2019
Sale Price
$10,250,000
Sale Price
$16,425,000
Sale Price
$6,500,000
CAP Rate
3.64%
CAP Rate
4.02%
CAP Rate
5.08%
GRM Number of Units Year Built
15.75 36 Units 1974
GRM
14.95
Number of Units
40 Units
Year Built
1991
GRM Number of Units Year Built
13.06 10 Units 2005
Rentable Square Feet
22,616 SF
Rentable Square Feet
43,745 SF
Rentable Square Feet
19,680 SF
Price per Square Foot
$453
Price per Square Foot
$375
Price per Square Foot
$327
Price per Unit Unit Mix
22
oSale Éå í
10650-10656 Moorpark St West Toluca Lake, CA 91602
2/28/2019
05
oSale Éå í
$284,722 (36) 1 Bed / 1 Bath
Price per Unit Unit Mix
$410,625 (13) 1 Bed / 1 Bath (27) 2 Bed / 2 Bath
Price per Unit Unit Mix
$650,000 (6) 2 Bed / 2 Bath (4) 4 Bed / 2 Bath
COMPARABLES
SALES COMPARABLES
06
oSale Éå í
4417 Hazeltine Ave Sherman Oaks, CA 91423
Close of Escrow Sale Price
$9,000,000
CAP Rate
3.07%
GRM Number of Units Year Built
17.22 24 Units 1990
Rentable Square Feet
22,585 SF
Price per Square Foot
$398
Price per Unit Unit Mix
23
8/15/209
$375,000 (8) 1 Bed / 1 Bath (8) 2 Bed / 1 Bath (8) 3 Bed / 1 Bath
10849 FRUITLAND DR, STUDIO CITY, CA 91604
COMPARABLES
RENT COMPARABLES
24
#
ADDRESS
UNIT TYPE
RENT
SQ. FOOTAGE
RENT PER SF
01
10937 Fruitland Dr, Studio City, CA 91604
2 Bed / 2 Bath
$2,695
1,000 SF
$2.70
02
11023 Fruitland Dr, Studio City, CA 91604
3 Bed / 3 Bath
$5,400
1,560 SF
$3.46
03
4055 Lankershim Blvd, Studio City, CA 91604
2 Bed / 2 Bath
$3,400
1,031 SF
$3.30
04
10915 Bluffside Dr, Studio City, CA 91604
2 Bed / 1 Bath
$2,300
800 SF
$2.88
05
10865 Bluffside Dr, Studio City, CA 91604
2 Bed / 2 Bath
$2,295
985 SF
$2.33
COMPARABLES
RENT COMPARABLES
01
02
oRent Éå í
10937 Fruitland Dr
11023 Fruitland Dr
Studio City, CA 91604
Unit Type Monthly Rent Square Footage Rent per Square Foot Year Built Number of Units
25
$2,695 1,000 SF $2.70 1971 44 Units
Unit Type Monthly Rent Square Footage Rent per Square Foot Year Built Number of Units
oRent Éå í
4055 Lankershim Blvd
Studio City, CA 91604
2 Bed / 2 Bath
03
oRent Éå í
Studio City, CA 91604
3 Bed / 3 Bath $5,400 1,560 SF $3.46 2010 18 Units
Unit Type
2 Bed / 2 Bath
Monthly Rent
$3,400
Square Footage
1,031 SF
Rent per Square Foot
$3.30
Year Built
2006
Number of Units
138 Units
10849 FRUITLAND DR, STUDIO CITY, CA 91604
COMPARABLES
RENT COMPARABLES
04
05
oRent Éå í
10915 Bluffside Dr
10865 Bluffside Dr
Studio City, CA 91604
Unit Type
Studio City, CA 91604
2 Bed / 1 Bath
Unit Type
2 Bed / 2 Bath
Monthly Rent
$2,300
Monthly Rent
$2,295
Square Footage
800 SF
Square Footage
985 SF
Rent per Square Foot Year Built Number of Units
26
oRent Éå í
$2.88 1986 105 Units
Rent per Square Foot Year Built Number of Units
$2.33 1985 58 Units
SECTION FOUR
LOCATION OVERVIEW
28
LOCATION OVERVIEW
DEMOGRAPHICS
29
Population
1-Mile
3-Mile
5-Mile
2024 Projection
21,526
181,751
654,730
2019 Estimate
21,052
179,363
643,802
2010 Census
19,180
172,289
605,844
Growth ‘19 - ‘24
2.25%
1.33%
1.70%
Growth ‘10 - ‘19
9.76%
4.11%
6.27%
Households
1-Mile
3-Mile
5-Mile
2024 Projection
11,106
86,945
293,921
2019 Estimate
10,907
86,010
289,339
2010 Census
10,197
83,800
274,206
Growth ‘19 - ‘24
1.82%
1.09%
1.58%
Growth ‘10 - ‘19
6.96%
2.64%
5.52%
Average Income
$127,669
$108,733
$96,290
Median Income
$96,162
$76,281
$65,920
10849 FRUITLAND DR, STUDIO CITY, CA 91604
10849 FRUITLAND DR
STUDIO CITY, CA 91604
30
SECTION FIVE
JAMES CAPITAL ADVANTAGE
31
10849 FRUITLAND DR, STUDIO CITY, CA 91604
JAMES CAPITAL ADVISORS
JAMES CAPITAL ADVANTAGE 32
WHO WE ARE OUR BACKGROUND James Capital Advisors, Inc. (JCA) is a commercial real estate brokerage firm that specializes in net lease and multifamily investment sales throughout the U.S. Originally founded by Mike James as “The James Group” in 2012, the firm rebranded to “James Capital Advisors” in 2018 and set out to develop the next generation of real estate brokerage services. In the 18 months that followed, the firm experienced 400% growth and established a new flagship office in Los Angeles, CA. James Capital Advisors operates on a transparency-driven shared client management platform. This allows us to avoid duplicate agent outreach, and ensures that we provide our clients with a singular advisor-client experience. Every agent in our firm specializes in either net lease, multifamily. The firm’s dedicated focus on net lease and multifamily stems from the synergy between the two product types. With California multifamily exchange clients accounting for a significant portion of the net lease buyer pool, our Los Angeles-based team is uniquely positioned to leverage California capital.
OUR MISSION Provide a first class commercial real estate experience through collaboration, transparency and innovation.
OUR CORE VALUES Collaboration Transparency Growth Innovation
33
10849 FRUITLAND DR, STUDIO CITY, CA 91604
WHAT WE DO NET LEASE With fluctuating operating costs and rising e-commerce competition, net lease investors need an expert to identify a strategic approach hand-tailored to their investment portfolio. Our net lease experts deliver two facets of specialization; tenant/brand and locational expertise. By taking ownership of a dedicated territory, our agents are able to keep their finger on the pulse of the market and provide actionable insights. With a deep understanding of demographic trends, transitioning locality, exposure and accessibility, we deliver an unrivaled competitive edge. Niche Expertise When it comes to national net lease investments, it is essential for property owners to partner with a singular advisor who is most adept with their respective market. Our expert advisors not only specialize in net lease transactions, but also within their dedicated territory. As a result, investors benefit from boots-on-the-ground market expertise combined with the nation’s leading investment sales team.
MULTIFAMILY James Capital’s multifamily division focuses on transactions between $1 million and $30 million in Southern California. Each broker specializes in a devoted submarket to provide clients with the highest level of expertise, and an unrivaled understanding of their dedicated zip code. NET LEASE
With new ordinances and regulations constantly introduced in Los Angeles, investors need to be supported by a specialist who understands all aspects of the multifamily market. While each agent focuses on a core market, our collaborative approach allows advisors to leverage each other’s relationships and experiences, ensuring the best outcome for our clients. Our undivided attention in the greater Los Angeles multifamily real estate market, backed by the national inventory of our net lease division uniquely positions James Capital to create optimal opportunities for our clients.
34
WHAT WE DO CORPORATE REAL ESTATE James Capital’s corporate real estate division provides creative solutions to public and private corporations, investment banks, private equity firms and independent sponsors. Services • M&A Real Estate Advisory and Execution
• Financing and Debt Sourcing
• Valuation and Portfolio Advisory
• Catch & Release Real Estate Optimization
• Portfolio Sale-Leaseback Structuring & Execution
• Real Estate Tax Advisory
• Private Markets Sale-Leaseback Structuring and Execution (Individual Property Sales)
TRACK RECORD As a market leader, James Capital Advisors has sold over $5 Billion in value of real estate between Multifamily and Net Lease properties nationwide. Our specialized expertise, platform, and team of purpose-driven advisors guide us in our mission to disrupt the industry, and prove our staying power.
$6 B 3,000 60+ $6 B
TRANSACTION VOLUME
35
3,000+ Properties SOLD
60+
Investment Professionals
10849 FRUITLAND DR, STUDIO CITY, CA 91604
MULTIFAMILY
SPECIALIZATION James Capital’s multifamily division focuses on transactions between $1 million and $30 million in Southern California. Each broker specializes in a devoted submarket to provide clients with the highest level of expertise, and an unrivaled understanding of their dedicated zip code. With new ordinances and regulations constantly introduced in Los Angeles, investors need to be supported by a specialist who understands all aspects of the multifamily market. While each agent focuses on a core market, our collaborative approach allows advisors to leverage each other’s relationships and experiences, ensuring the best outcome for our clients. Our undivided attention in the greater Los Angeles multifamily real estate market, backed by the national inventory of our net lease division uniquely positions James Capital to create optimal opportunities for our clients.
Niche Expertise When it comes to the Los Angeles multifamily market, investors deserve an advisory team with extensive knowledge of each specific submarket. Our agent’s hyper-focus within their dedicated zip codes ensure that our clients receive the best possible service and execution every step of the way. Mid-Market Minded We deliver results for institutions, developers, family-owned and private capital investors. Exclusive Exchange Inventory The synergy between our net lease and multifamily divisions open the door to exclusive exchange opportunities for our clients. Considering an exchange? Click here to fill out a brief survey and one of our advisors will reach out to start the process.
36
MEET OUR
SENIOR LEADERSHIP Mike James
Founder, Managing Director As Founding Member and Managing Director of James Capital Advisors, Mike guides the company in its vision, dedication, work culture, and commitment to success. In his role as Managing Partner and head of the corporate M&A real estate department, he oversees and evaluates all major corporate decisions and institutional accounts. Mike boasts an undeniable track record of success in managing large portfolio saleleaseback transactions. A graduate of the Argyros School of Business and Economics, he shares his expertise with his clients, advising them on matters great and small in the world of commercial real estate mergers and acquisitions. (424) 325-2601 mike@jamescapitaladvisors.com CA RE Lic. 01869890
Wayne Vance Chief Financial Officer
Wayne Vance is JCA’s chief financial officer reporting to CEO Nate Barnes. As CFO, Wayne oversees the accounting, financial planning and analysis, internal audit and tax functions at JCA. Wayne joined James Capital in 2019 and has worked closely with JCA’s senior leadership since his arrival. Wayne has nearly two decades of experince within various industries and a passion for working with high-paced, high-growth companies. He began his career in Silicon Valley as an auditor, growing a start up from $8M to $350M in revenue and 35 to 1,200 employees globally within 6 years. (424) 325-2600 info@jamescapitaladvisors.com
37
Nate Barnes
Chief Executive Officer As James Capital Advisors CEO, Nate manages the corporate direction and strategy of the company. His responsibilities include sales and marketing leadership, business development strategy, and financial and operational oversight. With degrees in both finance and real estate from California State University, Northridge, Nate’s astute grasp on the real estate market was pivotal in the early expansion and growth of James Capital Advisors. Before signing on with James Capital Advisors, Nate served as the managing partner for Los Angeles-based regional franchise LA Tasty Food, LLC, operating popular brands like El Pollo Loco, Carl’s Jr, and Sbarro. (424) 325-2603 nate@jamescapitaladvisors.com CA RE Lic. 01908103
Mark Richardson Owner, Vice Chairman
An American businessman, real estate expert, and former co-owner of the Carolina Panthers, Mark is a part owner and Vice Chairman of James Capital Advisors and an integral part of the company’s breakaway success. Graduating from Clemson University in 1987, he went on to receive his Master’s of Business Administration from the University of Virginia in 1987 and in 2013 was named a lifetime trustee of Clemson University. Mark is also a shrewd franchise investor, with more than 50 Bojangles’ Famous Chicken ‘n Biscuits restaurants under his proprietorship across the U.S. (424) 325-2600 info@jamescapitaladvisors.com
10849 FRUITLAND DR, STUDIO CITY, CA 91604
JAMES CAPITAL ADVANTAGE
EQUITY SPONSOR
Mark Richardson Owner, Vice Chairman
An American businessman, real estate expert, and former co-owner of the Carolina Panthers, Mark is a part owner and Vice Chairman of James Capital Advisors and an integral part of the company’s breakaway success. Graduating from Clemson University in 1983, he went on to receive his Master’s of Business Administration from the University of Virginia in 1987 and in 2013 was named a lifetime trustee of Clemson University. Mark is also a shrewd franchise investor, with more than 50 Bojangles’ Famous Chicken ‘n Biscuits restaurants under his proprietorship across the U.S. At James Capital Advisors, Mark uses his expertise as a professional real estate developer to focus on single-tenant projects in the southeast.
(424) 325-2600 info@jamescapitaladvisors.com www.jamescapitaladivsors.com
In July of 2018, Former Founder & Owner of the NFL’s Carolina Panthers, Mark Richardson, invested a significant amount of capital into JCA.
38
•
Former Owner of the Carolina Panthers
•
Extensive Real Estate Portfolio
•
50+ Unit Bojangles’ Franchisee
•
Lifetime Trustee of Clemson University
•
Co-Owner & Vice Chairman of JCA
JAMES CAPITAL ADVISORS
MARKETING CAMPAIGN
WEEK
WEEK
01
02
03
CONTROLLED LISTING
HYPERTARGETING
JCA MASS OUTREACH
Upon execution of the listing agreement, JCA will quietly distribute the offer to a strategically selected group of buyers.
Upon completion of a perfect marketing package, JCA will publish across all platforms and target tier one prospects.
Large-scale digital distribution utilizing our industry-first CRM platform, reaching 250,000+ brokers and principals.
WEEK
WEEK
WEEK
04
39
WEEK
05
06
PREMIUM PLATFORMS
BROKER RELATIONSHIPS
BUYER QUALIFICATION
Coordinated campaigns leveraging our third-party property marketing partners.
JCA maintains strong credibility with all other representatives of buyers across the country.
JCA understand the necessary questions to ask and required terms to achieve a smooth closing process.
10849 FRUITLAND DR, STUDIO CITY, CA 91604
JAMES CAPITAL ADVISORS, INC.
DISCLAIMER
The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto. The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants. A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.
CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.
RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.
NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.
FOR INQUIRIES
PLEASE CONTACT
danny spiwak
mike hanassab
elliot hassan
(424) 325-2645
(424) 325-2642
(424) 325-2643
Associate
danny.spiwak@jamescapitaladvisors.com CA RE Lic. 02031346
Senior Director
mike.hanassab@jamescapitaladvisors.com CA RE Lic. 01484891
Senior Director
elliot.hassan@jamescapitaladvisors.com CA RE Lic. 01481211