shaw view shopping center | fresno, ca

SHAW VIEW SHOPPING CENTER | FRESNO, CA
70,115 SF Multi-Tenant Shopping Center | Value-Add Opportunity
SHAW VIEW | fFRESNO
EXCLUSIVELY PRESENTED BY
BRETT VISINTAINER, CCIM
Senior Associate
Investment Division
[email protected]
559.447.6265 | Office
559.916.0370 | Cell
CA BRE# 01792092
JEREMY REED
Senior Vice President
[email protected]
559.447.6282 | Office
559.213.5482 | Cell
CA BRE# 01203327
TABLE OF
CONTENTS
1
INVESTMENT SUMMARY
PROPERTY DESCRIPTION
4
ASSUMPTIONS
CASH FLOW PROJECTIONS
10 YR INVESTMENT SUMMAY
7
RENT ROLL
OCCUPANCY GRAPHS
TENANT PROFILES
12
LOCATION MAPS
NEIGHBORING CENTERS
SITE PLAN
PARCEL MAP
18
COMPETING CENTERS
20
DEMOGRAPHICS
CITY OF FRESNO
SHAW VIEW | FRESNO
Investment Summary
Offering Price
$9,700,000 | $138.34 PSF
NOI (FY1)
$802,316
Actual Cap Rate
8.27%
Total Building Area
70,115 SF
Total Land Area
6.09 acres
Unleveraged IRR
11.00%
Leveraged IRR
16.87%
Investment Highlights
Tremendous Upside for an Investor to Modernize Shopping Center
With some updating and aesthetic improvements, it will bring a new life to the center. A vision is needed to create synergy with the
current and new tenants.
Value Add Opportunity for an Investor
Shaw View allows an investor to increase the NOI by filling the vacancies and attracting national tenants to the pads. By modernizing
the center and bringing new tenants, an investor can achieve higher rents and increase cash flow.
Located on Fresno’s Main Retail Corridor
West Shaw Avenue continues to be a main retail thoroughfare in Fresno. Shaw and Brawley Avenues, the intersection just east of Shaw
View Shopping Center, has a traffic count of 36,489 cars per day. Since the recession, Shaw Avenue has seen many national businesses
filling empty space and this trend will continue in the coming years.
Investment Summary | 1
SHAW VIEW | FRESNO
Property Description
Address
4360, 4308, 4388 & 4304 W. Shaw Avenue
Fresno, CA 93722
Year Built
1992
Total Building Area
70,115 Square Feet
Total Land Area
6.09 Acres
Occupancy
80%
Zoning
C-M
APN Parcel #
509-091-22 | 509-091-24 | 509-091-26
Number of Buildings
Five (5)
Parking Ratio
4.0 : 1,000 PSF
Parking Stalls
282 Surface Parking Stalls
Traffic Count
36,489 cars per day
Property Description | 2
SHAW VIEW | FRESNO
Shaw View | 3
SHAW VIEW | FRESNO
Assumptions
ANALYSIS PERIOD
ANNUAL RESERVES
1st Fiscal Year (FY1) of Ownership
1/1/2014 - 12/31/2014
Lender Required Reserves
$0.20 PSF
Term
10 years
Commission and TI Reserves
$1.00 PSF
ANNUAL GROWTH RATES
VACANCY [3]
Operating Expenses
2.0%
Stabalized Vacancy
10.00%
Market Rent after initial Lease Term
2.0%
FY 1 Vacancy
19.33%
Reimbursements
2.0%
Annual SF Absorption
5.51%
VACANCY SF LEASE INFORMATION
OPERATING EXPENSES [1-2]
Monthly Rent
$1.25 PSF
Total Operating Expenses FY1
$4.77 PSF
Annual Increase
2.0%
Management Fee [3]
3.00% of ERI
Lease Term
5 years
Lease Type
NNN
Commission
5%
[1] FY 1 Operating Expenses are based on 2.0% increase from 2013 budgeted operating expenses.
[2] New tax assessment based on 1.247% of sale price for analysis.
[3] Vacancy is based on market rent applied to vacant square footage.
Assumptions | 4
SHAW VIEW | FRESNO
Cash Flow Projections
Fiscal Year (FY) of Ownership
Year Ending
Potential Rental Income
Vacancy & Credit Loss
Yr 1
Dec 2014
Yr 2
Dec 2015
$ 1,106,894 $ 1,114,235 $
Yr 3
Dec 2016
Yr 4
Dec 2017
Yr 5
Dec 2018
Yr 6
Dec 2019
Yr 7
Dec 2020
Yr 8
Dec 2021
Yr 9
Dec 2022
Yr 10
Dec 2023
Reversion
Dec 2024
1,124,898 $ 1,138,750 $ 1,176,691 $ 1,217,185 $ 1,231,235 $ 1,243,043 $ 1,256,021 $ 1,300,705 $ 1,345,724
(112,490) $
(113,875) $
(117,669) $
(121,719) $
(123,123) $
(124,304) $
(125,602) $
(130,071) $
(134,572)
$
(213,975) $
(162,765) $
$
892,919 $
951,470 $
Expense Reimbursements
$
230,766 $
254,191 $
278,461 $
284,031 $
289,711 $
295,505 $
301,415 $
307,444 $
313,593 $
319,865 $
326,262
Shared Utility Recovery
$
12,000 $
12,240 $
12,485 $
12,734 $
12,989 $
13,249 $
13,514 $
13,784 $
14,060 $
14,341 $
14,628
Sign Rental Fee
$
1,320 $
1,346 $
1,373 $
1,401 $
1,429 $
1,457 $
1,487 $
1,516 $
1,547 $
1,578 $
1,609
Effective Rental Income
Gross Operating Income
$ 1,137,004 $ 1,219,247 $
1,012,408 $ 1,024,875 $ 1,059,022 $ 1,095,467 $ 1,108,111 $ 1,118,738 $ 1,130,419 $ 1,170,635 $ 1,211,151
1,304,728 $ 1,323,041 $ 1,363,151 $ 1,405,679 $ 1,424,527 $ 1,441,483 $ 1,459,618 $ 1,506,418 $ 1,553,650
Operation Expenses
Alarm
$
514.08 $
524.36 $
534.85 $
545.55 $
556.46 $
567.59 $
578.94 $
590.52 $
602.33 $
614.37 $
626.66
Bank Fees
$
6,218 $
6,342 $
6,469 $
6,599 $
6,731 $
6,865 $
7,003 $
7,143 $
7,286 $
7,431 $
7,580
Gardening
$
11,151 $
11,374 $
11,601 $
11,833 $
12,070 $
12,311 $
12,557 $
12,809 $
13,065 $
13,326 $
13,593
Insurance
$
16,100 $
16,423 $
16,751 $
17,086 $
17,428 $
17,776 $
18,132 $
18,494 $
18,864 $
19,242 $
19,626
Permit and Bank Fees
$
388 $
395 $
403 $
411 $
420 $
428 $
437 $
445 $
454 $
463 $
472
Legal and Acccounting
$
14,790 $
15,086 $
15,388 $
15,695 $
16,009 $
16,329 $
16,656 $
16,989 $
17,329 $
17,675 $
18,029
36,335
Property Management
$
26,788 $
28,544 $
30,372 $
30,746 $
31,771 $
32,864 $
33,243 $
33,562 $
33,913 $
35,119 $
Repairs and Maintenance
$
36,157 $
36,880 $
37,618 $
38,370 $
39,137 $
39,920 $
40,719 $
41,533 $
42,364 $
43,211 $
44,075
Security Guard Service
$
12,240 $
12,485 $
12,734 $
12,989 $
13,249 $
13,514 $
13,784 $
14,060 $
14,341 $
14,628 $
14,920
Supplies
$
1,020 $
1,040 $
1,061 $
1,082 $
1,104 $
1,126 $
1,149 $
1,172 $
1,195 $
1,219 $
1,243
Real Estate Taxes
$
121,284 $
123,710 $
126,184 $
128,708 $
131,282 $
133,908 $
136,586 $
139,317 $
142,104 $
144,946 $
147,845
Telephone
$
906 $
924 $
942 $
961 $
980 $
1,000 $
1,020 $
1,040 $
1,061 $
1,082 $
1,104
Utilities
$
57,451 $
58,600 $
59,772 $
60,967 $
62,187 $
63,430 $
64,699 $
65,993 $
67,313 $
68,659 $
70,032
PG&E
$
29,682 $
30,276 $
30,881 $
31,499 $
32,129 $
32,771 $
33,427 $
34,095 $
34,777 $
35,473 $
Total Operating Expenses
$
(334,688) $
(342,603) $
(350,712) $
(357,493) $
(365,052) $
(372,811) $
(379,989) $
(387,243) $
(394,667) $
(403,089) $
Net Operating Income
$
802,316 $
876,645 $
954,016 $
965,548 $
36,182
(411,664)
998,099 $ 1,032,867 $ 1,044,538 $ 1,054,240 $ 1,064,951 $ 1,103,329 $ 1,141,986
Commission & TI Reserves
$
(70,115) $
(70,115) $
(70,115) $
(70,115) $
(70,115) $
(70,115) $
(70,115) $
(70,115) $
(70,115) $
(70,115) $
(70,115)
Lender Required Reserves
$
(14,023) $
(14,023) $
(14,023) $
(14,023) $
(14,023) $
(14,023) $
(14,023) $
(14,023) $
(14,023) $
(14,023) $
(14,023)
Cash Flow Before Debt Service
$
718,178 $
792,507 $
869,878 $
881,410 $
913,961 $
948,729 $
960,400 $
970,102 $
980,813 $ 1,019,191 $ 1,057,848
$
286,142 $
281,754 $
277,145 $
272,302 $
267,213 $
261,867 $
256,250 $
250,349 $
244,149 $
Interest Payment
Principal Payment
Annual Debt Service
Cash Flow After Debt Service
237,635 $
230,792
$
86,643 $
91,031 $
95,640 $
100,483 $
105,572 $
110,918 $
116,534 $
122,436 $
128,636 $
135,150 $
141,993
$
$
(372,785) $
345,393 $
(372,785) $
419,722 $
(372,785) $
497,093 $
(372,785) $
508,625 $
(372,785) $
541,176 $
(372,785) $
(372,785) $
(372,785) $
(372,785) $
(372,785) $
(372,785)
575,944 $
587,615 $
597,317 $
608,028 $
646,406 $
685,063
Cash Flow Projections | 5
SHAW VIEW | FRESNO
Ten Year Investment Summary
INVESTMENT DETAIL
PROPOSED LOAN TERMS [2]
Purchase Price
$9,700,000
Down Payment
$3,880,000
FY 1 NOI
$802,316
Loan Amount
$5,820,000
Acquisition Cap Rate
8.27%
LTV
60%
Acquisition Price SF
$138.34
Interest Rate
4.95%
Disposition Price (EOY 10)
$13,808,733
Amortization
30 years
Disposition Cap Rate
8.27%
Term
10 years
Disposition Price SF
$196.94
Loan Origination Fee
$58,200
Cost of Sale
3.00%
Monthly Payment
$31,065
FY1 TI & Commission
$200,000
Annual Debt Service
$372,784
UNLEVERAGED INVESTMENT SUMMARY
LEVERAGED INVESTMENT SUMMARY
Initial Investment [1]
$9,900,000
Initial Investment [1]
$4,138,200
FY 1 Cash Flow
$718,178
FY 1 Cash Flow After ADS
$345,393
FY 1 Cash on Cash
7.40%
FY 1 Cash on Cash
8.77%
Unleveraged IRR
11.00%
Leveraged IRR
16.87%
[1] $200,000 for TI and commission for vacant square footage is reflected in initial investment.
[2] Proposed Loan Terms provided by - Matt Renney - Broker Associate | Mohr-Rurik Capital Group Inc. | 559-244-3100 | [email protected] | Loan quote is subject to typical due
diligence, underwriting, financial strength, experience of borrower and third party reports. Rates change daily.
Ten Year Investment Summary | 6
SHAW VIEW | FRESNO
Rent Roll
FISCAL YEAR 1 RENT SUMMARY | January 1, 2014 - December 31, 2014
Tenant
SF
Annual Rent
Annual PSF
Monthly Rent [1]
Monthly PSF
CAM
CAM PSF
Discount Tire Center 4,644
$67,648.00
$14.57
$5,637.33
$1.21
N/A
N/A
Blast Fitness
$554,724.00
$17.29
$46,227.00
$1.44
$12,105.35
$0.38
Fisherman’s Warehouse 5,208
$47,184.48
$9.06
$3,932.04
$0.76
$2,200.92
$0.42
Crescent View Charter 4,312
$61,849.60
$14.34
$5,154.13
$1.20
$1,485.66
$0.34
T-Mobile
3,290
$78,960.00
$24.00
$6,580.00
$2.00
$1,296.15
$0.39
Taj of India
5,214
$60,336.29
$11.57
$5,028.02
$0.96
$1,676.68
$0.32
Chubby’s
1,102
$22,216.32
$20.16
$1,851.36
$1.68
$465.71
$0.42
Vacant
1,508
$22,620.00
$15.00
$1,885.00
$1.25
N/A
N/A
Vacant
1,996
$29,940.00
$15.00
$2,495.00
$1.25
N/A
N/A
Vacant
3,942
$59,130.00
$15.00
$4,927.50
$1.25
N/A
N/A
Vacant
1,320
$19,800.00
$15.00
$1,650.00
$1.25
N/A
N/A
Vacant
3,498
$52,470.00
$15.00
$4,372.50
$1.25
N/A
N/A
Vacant
2,001
$30,015.00
$15.00
$2,501.25
$1.25
N/A
N/A
70,115
$1,106,894
$15.79
$92,241
$1.32
$19,230
TOTAL
32,080
$0.27
[1] Monthly rent reflects monthly average of Fiscal Year 1.
[2] Fiscal Year 1 actual income is $892,918.69
[3] CAM fees reflect tenants’ 2013 pro-rata share applied to FY 1 expenses.
[4] Lease expirations and annual increases will be provided following the execution of a confidentiality agreement.
Rent Roll | 7
SHAW VIEW | FRESNO
Prospective Occupancy Profile
2014
Q1
Q2
Q3
2015
Q4
Q1
Q2
Q3
2016
Q4
Q1
Q2
Q3
2017
Q4
Q1
Q2
2018
Q3
Q4
Q1
Q2
Q3
2019
Q4
Q1
Q2
Q3
2020
Q4
Q1
Q2
2021
Q3
Q4
Q1
Q2
2022
Q3
Q4
Q1
Q2
2023
Q3
Q4
Q1
Q2
Q3
2024
Q4
Q1
Q2
Q3
Q4
Tenant 1
Tenant 2
Tenant 3
Tenant 4
Tenant 5
Tenant 6
Tenant 7
Tenant 8
Tenant 9
Tenant 10
Tenant 11
Tenant 12
Tenant 13
1,000 SF+
2,000 SF+
3,000 SF+
4,000 SF+
5,000 SF+
30,000 SF+
*White Space represents vacancy in the Shopping Center
100.00%
8
90.00%
7
80.00%
6
70.00%
60.00%
52.38%
52.38%
4
50.00%
35.21%
40.00%
3
30.00%
20.00%
5
2
14.86%
10.00%
0.00%
0.00%
2014
2015
6.26%
6.15%
2016
2017
0.00%
2018
2019
2020
6.26%
6.15%
2021
2022
Number of Tenants
% of Shaw View Shopping Center SF
Tenant Rollover During Ownership
1
0
2023
Years of Ownership
Percentage of SF Expiring
Number of Tenants’ Leases Expiring
Prospective Occupancy | 8
SHAW VIEW | FRESNO
Shaw View Shopping Center | 9
SHAW VIEW | FRESNO
Tenant Profiles
3,290 SF
Customers | 136,000,000+ worldwide
www.t-mobile.com
32,080 SF
Locations | nationwide
www.blastfitness.com
Fitness center with low cost memberships. Membership fees start at $10/month
which gives users access to cardio equipment and weights. For $20 a month,
members can add group exercise classes, free tanning and free babysitting
services. With 85 current locations Blast Fitness is expanding rapidly nationwide
from 62 in 2011 to currently, 85 nationwide, and an additional 5 more set to
open soon.
T-Mobile USA, Inc. is the U.S. wireless operation of Deutsche Telekom AG,
one of the largest telecommunications companies in the World, with nearly 130
million customers worldwide. With over 36,000 employees, T-Mobile USA is a
national provider of wireless voice, messaging, and data services capable of
reaching over 293 million Americans where they live, work, and play.
4,312 SF
Locations | 27 statewide
www.cvchs.org.com
5,208 SF
Locations | 4 statewide
www.fishermanswarehouse.com
Fishermans Warehouse is the largest tackle outfitter in Northern California
with the original store opening in Manteca and then to Sacramento, San Jose,
and Fresno. They provide expert service to anglers looking for fishing
equipment and advice. The Fresno store opened in 1999 and has been in 2011
to the largest and most knowledgeable tackle retailer in the Fresno area since.
Crescent View South Charter High School personalizes the learning process to
meet the ability, pace, and interest of the student. This is one of many resource
centers with Learn 4 Life charter high schools in California, and one of two in
Fresno. Their goal is to broaden the math and reading skills of all students who
enroll.
Tenant Profiles | 10
SHAW VIEW | FRESNO
Tenant Profiles
4,644 SF
Locations | 55 statewide
www.discounttirecenters.com
Automotive services that include oil changes, alignment, brakes, flush, shocks
and struts, cooling system, battery, and tires throughout Southern and Central
California. The Andonian family has owned and operated the company since 1976.
1,102 SF
Locations | 18 statewide
Chubby’s Diner, one of America’s favorite restaurant, serves grilled hamburgers
and sandwiches using homemade buns with bacon, eggs, french toast and
omelets. The high quality food and beverage items are served with their breakfast, lunch, and dinner menus to customers in an environment that features
50’s style, attraction and comfort.
5,214 SF
Taj of India is a restaurant that prides themselves on serving fresh food made
at the restaurant and offers customers a taste of India. Their menu features an
assortment of curries, quail, Masalas, Kormas, Saags, and other fine Indian dishes.
Tenant Profiles | 11
SHAW VIEW | FRESNO
N
Sacramento
San Francisco
Oakland
Stockton
Modesto
San Jose
Merced
Madera
Fresno-Clovis
Hanford Visalia
Lemoore
Tulare
Bakersfield
Los Angeles
San Bernadino
Riverside
San Diego
Map of California | 12
SHAW VIEW | FRESNO
Neighboring Shopping Centers
SHAW VIEW SHOPPING CENTER
Neighboring Shopping Centers | 13
SHAW VIEW | FRESNO
Tenants Near Shaw View Shopping Center
SHAW VIEW SHOPPING CENTER
Tenants Near Shaw View | 14
SHAW VIEW | FRESNO
Tenants in Shaw View Shopping Center
Shaw View Tenants | 15
SHAW VIEW | FRESNO
Site Map
TENANT
SQ FT
1
Available
3,498
2
Taj of India Restaurant
5,214
3
Taj of India Restaurant
4
Available (has roll-up door)
1,320
5
Charter School
4,312
5A
Fisherman’s Warehouse
5,208
5B
Blast Fitness
32,080
6
Blast Fitness
7
Blast Fitness
8
Available
2,001
9
Available
1,508
10
Available
1,996
11
Chubby’s Diner
1,102
12
Weinerschnitzel
NAP
13
Available
3,942
13A
T-Mobile
3,290
14
Firestone Tire
NAP
15
Discount Tire
4,644
1 2
3
4
BLY
TH
E
AV
EN
UE
NO.
9
10
11
12
(NAP)
5
8
5A
13
13A
5B
6
14
(NAP)
7
15
SHAW AVENUE
Site Map | 16
SHAW VIEW | FRESNO
APN Map
509-091-26
N/A
509-091-24
N/A
509-091-22
APN Map | 17
SHAW VIEW | FRESNO
Competitive Centers
SHOPPING CENTER
DISTANCE FROM
SHAW VIEW
ANCHOR(S)
SIZE (SF)
OCCUPANCY
RENTS
NNN
SHAW VIEW SHOPPING CENTER
4304 W. Shaw Avenue
N/A
BLAST FITNESS
70,115
80%
$1.25
1 | FIGARDEN NEW TOWN
6015-6117 Figarden Drive
0.9
ORCHARD SUPPLY
99,000
79%
N/A
2 | THE VILLAGE WALK
6360 Figarden Drive
1.1
FAMILY DOLLAR
35,963
67%
$1.25
3 | MARTY GRAS SHOPPING CENTER
3600 W. Shaw Avenue
0.6
LOCAL TENANTS
19,516
79%
$0.95
4 | SHAW & BRAWLEY PLAZA
3759 W. Shaw Avenue
0.4
ENTERPRISE RENT-A-CAR
8,986
100%
$1.35
5 | SHAW MARKETPLACE
3623 W. Shaw Avenue
0.6
OLD NAVY, KOHL’S,
FOODS CO
242,454
96%
$1.50-$1.75
6 | BROADWAY FAIRE
3333 W. Shaw Avenue
0.9
UNITED ARTISTS THEATER
61,178
90%
N/A
7 | SWC SHAW & WEST
2049 W. Shaw Avenue
2.3
RITE AID, FRESH & EASY
83,000
87%
N/A
8| ASHLAN VILLAGE SHOPPING CENTER
4420 W. Ashlan Avenue
1.0
FRESNO COUNTY CREDIT
UNION
26,640
78%
$1.50
9 | WESTLAN SHOPPING CENTER
4040 N. West Avenue
2.7
SAVEMART, CVS
154,000
88%
$1.50
10 | WISHING WELL PLAZA
1418 W. Ashlan Avenue
2.5
LOCAL TENANTS
21,569
70%
N/A
88%
$1.36
AVERAGE
75,231
Competitive Centers | 18
SHAW VIEW | FRESNO
2
Shaw View Shopping Center
1
6015 N. Figarden Drive
2
6360 N. Figarden Drive
3
3600 W. Shaw Avenue
4
3759 W. Shaw Avenue
5
3623 W. Shaw Avenue
6
3333 W. Shaw Avenue
7
2049 W. Shaw Avenue
8
4420 W. Ashlan Avenue
9
4040 N. West Avenue
1
SHAW AVE.
3
6
4
7
5
99
4
10
WEST AVE.
1
MARKS AVE.
BRAWLEY AVE.
COMPETITIVE CENTERS
ASHLAN AVE.
1410 W. Ashlan Avenue
99
8
10
9
Competitive Centers | 19
SHAW VIEW | FRESNO
Demographics
1 MILE
3 MILES
5 MILES
POPULATION
1 MILE
3 MILES
5 MILES
HOUSEHOLDS
2000 Total
8,436
95,492
177,431
2000 Total
3,148
33,215
64,186
2010 Census
12,324
118,942
206,756
2010 Census
4,364
39,683
71,768
2012 Total
12,785
121,642
209,427
2012 Total
4,507
40,623
72,786
2017 Projected
13,738
128,433
218,820
2017 Projected
4,758
42,413
75,201
2012 Male Population
48.00%
48.60%
48.50%
2012 Avg HH Size
2.83
2.98
2.86
2012 Female Population
52.00%
51.40%
51.50%
2012 Owner Occupied
1,697
23,790
39,725
2012 Renter Occupied
2,810
16,833
41,844
2012 POPULATION BY AGE
2012 HOUSEHOLD INCOME
0-9
17.7%
16.2%
15.7%
10 - 19
14.9%
15.8%
15.2%
< $15,000
8.20%
10.0%
12.0%
20 - 24
9.8%
7.3%
7.6%
$15,000 - $24,999
11.2%
9.6%
11.0%
25 - 34
20.3%
15.4%
15.1%
$25,000 - $34,999
13.5%
11.2%
12.0%
35 - 44
13.0%
12.2%
11.8%
$35,000 - $49,999
20.7%
15.8%
16.0%
45 - 54
10.5%
12.1%
12.2%
$50,000 - $74,999
26.4%
21.6%
19.0%
55 - 64
8.1%
10.4%
10.9%
$75,000 - $99,999
7.8%
11.6%
11.0%
65 - 74
3.6%
6.0%
6.2%
$100,000 - $149,999
9.0%
13.8%
13.0%
75 - 84
1.5%
3.3%
3.6%
$150,000+
3.2%
6.4%
7.0%
85+
0.6%
1.4%
1.7%
2012 Median HH Income
$46,500
$52,650
$48,273
Median Age
28.4
31.8
32.5
2012 Avg HH Income
$57,365
$68,123
$64,717
2012 Per Capita Income
$20,210
$22,899
$22,650
Demographics | 20
SHAW VIEW | FRESNO
3 MILES
Average Household Income
$23,892 - $40,895
2 MILES
$40,895 - $56,098
$56,098 - $75,686
1 MILE
$75,686 - $104,814
$104,814 - $165,015
Average Household Income | 21
SHAW VIEW | FRESNO
City of Fresno
5th largest city in California with a population of 509,039
200 miles north of Los Angeles and 170 miles south of Sacramento
California State University, Fresno was listed on Forbes “America’s
Best College List of 2013”
As of 2013 the enrollment is 22,500 for undergraduates, graduates,
and post-baccalaureate
Home of the San Francisco Giants AAA affiliate, the Fresno Grizzlies
Southern entrance to Yosemite National Park - 65 miles to the north
Economy
Richest and most productive agricultural county in the world
Fresno County grossed over $6.8 billion from 350 crops+ (2011)
One in every five jobs in the county relates to agriculture
500+ trucking & warehousing firms operate in the area due to the
central location in the state of California
Some of the top businesses in Fresno recognized worldwide are:
Quickie Design – Largest wheelchair manufacturer worldwide
Pelco – Worldwide distributor of surveillance equipment
Duncan Enterprises – Worlds largest ceramics manufacturer
Nisshinbo – Leading Japanese textile manufacturer
Market Overview | 22
DISCLOSURE AGREEMENT
The information contained in this Offering Memorandum is strictly confidential, furnished solely for the purpose of review by a Prospective
Purchaser for Shaw View Shopping Center (Property) and is not to be used for any other purpose or made available to any other without the
expressed written consent of Newmark Grubb Pearson Commercial (NGPC).
The material is based in part upon information supplied by the Owner and in part upon information obtained by NGPC from sources it
deems reasonably reliable. Summaries and documents are not intended to be comprehensive or all inclusive but rather only an outline of
some of the provisions contained therein.
No warranty or representation, expressed or implied, is made by Owner, NGPC as to the accuracy or of the information contained herein
or any other written or oral communication transmitted to Prospective Purchaser in the course of its evaluation of the Property. No liability
is assumed in connection with the information or such other communication limiting the generality of the foregoing, the information shall
not be deemed a representation of the state of affairs of the Property of constitute an indication that there has been no change in the
business or affairs of the Property since the date of the preparation of the information.
Prospective Purchase should make their own projections and conclusions without reliance upon the materials and information contained
herein and conduct their own independent due diligence, including engineering and environment inspection, to determine the condition of
the Property and its feasibility for the intended use of Prospective Purchaser and the existence of any potentially hazardous material located
at the site.
This Offering memorandum was prepared by NGPC and has been reviewed by the Owner. It contains select/limited information pertaining
to the Property and does not purport to be all inclusive or to contain all of the information which a Prospective Purchaser may desire. All
financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy,
competition, and other beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the Property
will be made available to qualified Prospective Purchasers.
In this Offering Memorandum, certain documents and other materials are described in summary form. The summaries do not purport to be
nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interest
parties are expected to independently review all documents with their/its advisors.
This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute
an endorsement or advice as to the value of the own investigation, evaluation, and judgment as to the advisability of purchasing the Property
describe herein. Owner and NGPC expressly reserve the right, at their sole discretion, to reject any party at any time with or without notice.
Owner shall have no legal commitment or obligation to any interested party reviewing this Offering Memorandum or making an offer to
purchase the Property unless a written agreement for the purchase of the Property Owner’s obligations there under have been satisfied and
delivered by the Owner and such part and any conditions to Owner’s obligations there under have been satisfied or waived and then only
to the extent expressly provided to therein. NGPC is not authorized to make any representations or agreements on behalf of the Owner.
This Offering Memorandum is the property of NGPC and may be used only by the parties approved by NGPC. BY accepting deliver of this
Offering Memorandum, the party in possession hereof agrees (i) to return it to NGPC immediately upon request of NGPC or Owner and
(ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No
portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization
of NGPC and Owner.
The terms and conditions set forth above apply to the Offering Memorandum in its entirely.
SHAW VIEW SHOPPING CENTER | FRESNO, CA 93722
JEREMY REED
BRETT VISINTAINER, CCIM
Senior Vice President
CA BRE# 01203327
Senior Associate
CA BRE# 01792092