Jade Corporate Center
Office | 8.90% CAP
Marketing description
Newmark is pleased to present the opportunity to acquire the fee simple interest in Jade Corporate Center, a four-building, multi-tenant office campus located in Mission Hills, California. The Project totals 132,566 rentable square feet across four buildings and is situated on 2.84 acres of C2-zoned land.
Jade Corporate Center is situated on a landscaped 2.84- acre campus offering covered parking, outdoor seating areas, and mature, well-established landscaping. The Project is 95.03% leased to a diverse tenant roster with exposure to healthcare, financial services, government, education, and other professional uses. These buildings have demonstrated consistent operating performance, with occupancy rarely, if ever, dropping below 80% over the past 10 years.
The campus is located at the intersection of Los Angeles’ largest traffic thoroughfares: I-405, I-5, and 118 Freeways which accommodate 586,000 daily vehicle trips. The Project represents a rare opportunity to acquire the only true office campus environment available to tenants in the northern San Fernando Valley market.
Executive Summary In a Submarket With Just 4.9% Vacancy, This Project Has Rarely, If Ever, Dropped Below 80% Occupancy Over the Past Decad
Investment highlights
Diverse, Durable Tenant Base - 60% Healthcare Related Rent Roll
- Due to its central valley location and freeway access, the Property has historically attracted a broad mix of medical, financial services, software, insurance, government, and professional services tenants.
- Facey Medical Group has occupied approximately 40% of the Project as its corporate headquarters since 2013 and recently extended to 2032, renewing its commitment to a campus setting with its primary outpatient and training facilities located one block away.
Differentiated Office Economics
- Not all office assets perform uniformly. Jade Corporate Center is leased to 37 tenants with staggered leased expirations and a median suite size of 1,475 square feet.
- The tenant base consistently renews with limited landlord contributions, resulting in operating dynamics that more closely resemble a multifamily property than a traditional office building.
Superb Market Fundamentals
- The Mission Hills submarket remains tight with just 4.9% vacancy across all 662,000 SF of investor-owned office buildings greater than 10,000 SF.
- Rents have consistently grown an average of 3.34% over the past 10 years demonstrating persistent, enduring demand for this submarket.
- Office vacancy in the 7 million square foot East San Fernando Valley market is just 5.5%, below the 10-year average of 6.1%.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
