1000 S. Grand Ave
Net Leased Industrial Offering w/ Strong Upside | Santa Ana, CA
Marketing description
EXCEPTIONAL MARKET FUNDAMENTALS
►TOP INVESTMENT MARKET | Orange County (OC) is within the top investment region in the Americas in 2024 among investors, reflecting the county’s low vacancy and sustained rent growth. With strong employment and an attractive quality of life, Orange County is a highly sought-after gateway market.
►TIGHT MARKET FUNDAMENTALS | Orange County has one of the tightest industrial markets in the country, with a vacancy of 3.1% in 4Q24 Investors and tenants entering the Orange County industrial market face an incredible challenge, with limited options and zero new deliveries in the GAA despite growing demand.
►STRONG PROJECTED GROWTH | According to CBRE Econometric Advisors, OC is projected to add 68,000 new jobs over the five years. Orange County’s industrial rent growth is projected to be among the highest in the country, at more than ±30% over the next five years.
INFILL, URBAN LOCATION WITH HYPERGROWTH AND WORLD-CLASS AMENITIES
►HIGHLY DESIRABLE LOCATION | The asset is next to a dynamic and increasingly urbanized business core—the Greater Airport Area (GAA)—that is near some of Southern California’s best beach cities. Well-known as one of the nation’s most desirable places to live and work, the GAA offers a highly educated labor pool and proximity to University of California, Irvine, as well as unparalleled amenities for corporate tenants and residents.
►MULTI-MODAL TRANSPORTATION ACCESS | The surrounding multi-modal transit hub offers ease of commute for the region’s workforce, as well as proximity to executive housing. Located near the intersection of I-5/SR55, the asset has superb access to I-405 and SR-73, as well as John Wayne Airport and Santa Ana’s Metrolink station. Such access to critical infrastructure is as important as ever for business success and employee retention.
►RESORT-STYLE AMENITIES | GAA’s intrinsically irreplaceable location is highlighted by its proximity to world-class beaches, entertainment, shopping, dining, and cultural and outdoor activities. Nearby live-workplay destinations include South Coast Plaza, Park Place, The District at Tustin, Newport Fashion Island, and many more.
Investment highlights
NET-LEASED INDUSTRIAL OFFERING WITH STRONG UPSIDE
►DIVERSIFIED, ESTABLISHED TENANCY WITH LONGTERM LEASES | Currently tenants are well-established companies involved in critical last-mile services for which the property is best-positioned to deliver business value. This location provides superior access to a market with close to 2 million people and 113,000 businesses within a 10-mile radius.
►EASE OF OWNERSHIP | The NNN leases provide ease of ownership and security from owning in one of the top industrial markets in the U.S. With ±5.75 years in remaining WALT, new ownership enjoys passive, durable cash flow during the investment period.
►STABLE RENT ROLL WITH INCOME GROWTH | The rent roll provides an income stream with annual increases (±3.5%/year). During the 10-year hold period, in-place rents are projected to grow by ±42%, alleviating future inflationary pressures on returns.
►VALUE-ADD PROPOSITION | The current in-place blended rent is $2.43/SF NNN. Accelerated industrial rent growth in Orange County, working alongside strong demand, could lift yields upon a future rollover.
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