For Sale - Norheim Yost

600-630
BANCROFT
WAY
For Sale
RARE LEASED OFFICE/LABORATORY
AND DEVELOPMENT OPPORTUNITY
OFFERED AT
600-630 Bancroft Way
Berkeley, CA 94710
$11,500,000
SIZE
±47,675 square feet of office, laboratory
and R&D buildings
±128,066 square feet of land (2.94 acres in
two parcels)
PROPERTY HIGHLIGHTS
Ample parking – 3 spaces per 1,000 square feet
Currently zoned for Mixed-Use/Light-Industrial
Central East Bay location
Walking distance to the famous Fourth Street Shopping District
Multiple transportation services, including Berkeley Amtrak, AC Transit
and West Berkeley Shuttle to BART
Direct views of the Golden Gate Bridge and the San Francisco Bay
Adjacent to Berkeley’s 30-acre Aquatic Park
Visible from Interstate 80 with easy on-and-off access
Just 2 miles from UC Berkeley and Lawrence Berkeley National Labs
New housing developments just two blocks away
Fifteen minute drive to San Francisco
Great development potential
Unobstructed bay view – no buildable property west of the site
John Norheim
BRE#00770171
[email protected]
510-527-3400 x10
LOCATION
Steve Smith
BRE#01330154
[email protected]
510-527-3400 x12
All information furnished herein was provided by sources deemed reliable, but no
representation is made or implied as to the accuracy thereof.
Property Plan
PROPERTY OVERVIEW
600-630 Bancroft Way is situated in the heart of the East
Bay along the beautiful West Berkeley Aquatic Park. With
direct views of the Golden Gate Bridge, Mt. Tamalpais and
the bay itself, this office park presents a quality of life like no
other in the Bay Area. The adjacent mile-long Aquatic Park
includes a running path around the entire perimeter. From
the north end of the park, walkers, runners and cyclists alike
have easy access to the Bay Trail and the Berkeley Marina via
a pedestrian bridge.
Centrally located, the property is just 2 miles from UC
Berkeley, three blocks from University Avenue and the
Berkeley Amtrak Station, and a short walk to the Fourth
Street Shopping District. The surrounding neighborhood
is home to hundreds of businesses including architects,
engineers, designers, tech start-ups, artisanal food
manufacturers, fabricators, furniture makers, lighting
designers, wineries, distilleries and much more.
The site is comprised of three single-story buildings with a
mixture of office, R&D and laboratory tenant spaces—plus
ample parking. It has been home to the Department of
Justice, SEEO, Vista Community College, and UC Regents. It
currently houses 11 tenants, among them medical and
bio-tech tenants who are developing cancer treatments,
providing DNA services to researchers and developing new
discovery techniques.
±
12,600 SQ. FT.
Building 1
±
10,825 SQ. FT.
Building 2
24,250 SQ. FT.
±
Building 3
128,066 SQ. FT.
2.94 acres of land
PROPERTY SPECIFICS
Extensive office and laboratory improvements
±143 parking spaces
600 & 800 amp services
3 backup generators
Lighting upgraded to PG&E energy-efficient standards
PROPERTY DETAILS
600 Bancroft Way
AP# 56-1949-7
1.50 acres land
±23,425 sq. ft. building area
620-630 Bancroft Way
AP# 56-1949-6-2
1.44 acres land
±24,250 sq. ft. building area
Zoned Mixed-Use/Light-Industrial
Allowable building height ~45 ft.
F.A.R. 2
Building 2, courtyard
PROJECTED INCOME & EXPENSES
Reflecting 100% occupancy
Total Annual Income:
Total Projected Expenses:
Net Operating Income:
Valuation at 6.25% CAP:
$1,276,767
- $559,090
$717,677
$11,500,000
Area Demographics
(2010 Census)
Berkeley Population: 112,580
Median home price: $659,000
Median household income: $59,097
Median age: 33 years
Building 1, laboratory
Building 1, laboratory
More detailed information available upon
request with attached non-disclosure.
Area-specific information can be found at
http://www.ci.berkeley.ca.us/Home.aspx
LOCATION AND AMENITIES
WEST BERKELEY
Zoned for office, R&D, lab and vocational/
technical education facilities.
CLOSE TO LOCAL AMENITIES
AND NEW DEVELOPMENTS:
AC Transit
Avalon apartments (94 units)
Berkeley Amtrak
Fourth & U apartments (170 units)
The Aquatic apartments (59 units)
West Berkeley Shuttle to BART
WITHIN WALKING DISTANCE:
Stores
Anthropologie
Apple
California Closets
CB2
Crate & Barrel
Design Within Reach
Ruby Livingdesign
Sur La Table
Z Gallerie
Food
Berkeley Bowl West
Bette’s Oceanview Diner
Café Rouge
Grocery Outlet
The Pasta Shop
Peet’s Coffee & Tea
Sierra Nevada Torpedo Room
Spenger’s Fresh Fish Grotto
Takara Sake
Tomate Cafe
Vik’s Chaat Restaurant
Zut!
OTHER AMENITIES OF NOTE:
Aquatic Park Center (biotech)
Bancroft Center (office park)
Bayer Pharmaceutical Co. Campus
Berkeley Bay Trail
Berkeley Rowing Club
Playground at Aquatic Park
Plexxikon Campus (biomedical)
Proposed Ferry Terminal
Waterside Café & Workshops
AQUATIC PARK PEDESTRIAN BRIDGE
4TH STREET SHOPPING DISTRICT
BERKELEY AMTRAK STATION
4TH ST. SHOPS
AQUATIC PARK - ADJACENT TO SITE
CONFIDENTIALITY AGREEMENT
PROPERTY:
600–630 Bancroft Way, Berkeley, CA 94710
Norheim & Yost (“N&Y”) has been retained on an exclusive basis by the (“Owner”) with respect to the offering for sale of 600 –
630 Bancroft Way, Berkeley, CA 94710 the (“Property”). The owner has requested that all inquiries and communications with
respect to the contemplated sale of such Property to be directed to N&Y. All fees due N&Y in connection with the sale of the
Property shall be paid by the Owner.
N&Y has available for review certain information concerning the Property which includes brochures and other materials
(collectively “Informational Materials”). N&Y will not disclose such Informational Materials to a Potential Purchaser unless and
until the Potential Purchaser has executed this Confidentiality Agreement. Upon N&Y’s receipt of this executed Agreement N&Y
is prepared to provide the Informational Materials for the Potential Purchaser’s consideration in connection with the possible
purchase of the Property subject to the following conditions.
1. All Informational Materials pertaining to the Property which may be furnished to the Potential Purchaser shall continue to
be the property of the Owner and N&Y. The Informational Materials will be used solely for the purpose of the Potential
Purchaser and may not be copied or duplicated without N&Y written consent and must be returned to N&Y immediately upon
N&Y’s request or when negotiations terminate with respect to the Property.
2. The Informational Materials may be disclosed to the Potential Purchaser’s partners, employees, legal counsel and institutional
lenders (“Related Parties”), for the purpose of evaluating the potential purchase of the Property. Potential Purchaser will (i)
inform all Related Parties of the confidential nature of the Informational Materials and the other provisions of this Agreement,
(ii) direct all Related Parties to keep all such information in the strictest confidence and to use such information only for the
purpose of assisting or advising Potential Purchaser in evaluating the Property, and (iii) be responsible for the failure by any
Related Party to maintain the confidence of the Informational Materials or for the breach of this Agreement by any Related
Party. Potential Purchaser will take all necessary and appropriate actions to safeguard the Informational Materials from
disclosure by it or any Related Part to anyone, except as expressly permitted hereby.
3. The Potential Purchaser understands and acknowledges that N&Y and the Owner do not make any representations or
warranties as to the accuracy or completeness of the Informational Materials and that much of the information used in the
preparation of the Informational Materials was furnished to N&Y by others and has not been independently verified by the
N&Y and is not guaranteed as to its completeness or accuracy.
4. The potential Purchaser hereby indemnifies and holds harmless N&Y and the Owner and their respective affiliates and
successors and assigns against and from any loss, liability or expense, including attorney’s fees, arising out of any breach of any
of the terms of this Agreement. This Agreement will be governed by and construed in accordance with the laws of the State of
California.
5. The Potential Purchaser acknowledges that the Property has been offered for sale subject to withdrawal from the market,
change in offering price, prior sale or rejection of any offer because of the terms thereof, lack of satisfactory credit references
of any Prospective Purchaser, or for any other reason whatsoever, without notice. The Potential Purchaser acknowledges that
the Property is being offered without regard to race, creed, sex, religion or national origin. This Agreement terminates one (1)
year from the date hereof except as to written claims by Owner against Potential Purchaser prior hereto.
6. To ensure purchasers are not registered through multiple brokerage firms, Purchaser must name the cooperating Broker as his/
her Broker in writing prior to submission of informational materials. A cooperating brokerage commission of 2.00% off the
Gross Purchase Price is payable at close of escrow to the broker if and only if the subject property is sold to the prospective
Purchaser registered below and N&Y receives the commission as agreed to in the Listing Agreement with Owner.
If in agreement with the foregoing, please return one original signed copy of this agreement to N&Y
(Attention: John Norheim c/o Norheim & Yost, 732 Addison Street Ste. “C”, Berkeley, CA 94710)
The above is understood and agreed to by all parties.
Purchaser: ________________________________
Dated ________________________________
Client Broker: _____________________________
Dated ________________________________