Investment Summary
| Building 1 | Building 2 | Total Project* | |
| Asking Price | $7,600,000 | $2,900,000 | $10,500,000 |
| PSF | $217 | $277 | $231 |
| In-Place Cap Rate | 6.82% | 6.27% | 6.67% |
| Property Size | ±35,049 SF | ±10,464 SF | ±45,513 SF |
| Land Size | ±1.93 Acres | ±1.09 Acres | ±3.02 Acres |
| Parking Ratio | ±5.0/1,000 SF | ±7.2/1,000 SF | ±5.5/1,000 SF |
* Ability to buy both buildings or each building separately.
Investment Highlights
- Stable Cash Flow With Upside Potential
- This Class A project provides an investor with near term stability and long term upside potential through rent growth as the market continues to tighten.
- High Image Best Of Class Office | Medical Buildings
- High image best in class office/medical buildings completed in 2006 to capture pent up leasing demand driven by image conscious tenants as the vast majority of office properties in Victorville are older lower image properties.
- Midtown Spectrum is the only Class A project in the Victorville submarket that offers a 5.5 to 1 parking ratio, which has enabled the property to attract the most desirable office and medical tenants at premium rents, such as the US Department of Veteran Affairs, G4S, Arrowhead Orthopedics, Spectrum Urgent Care, Molina Healthcare and the State Water Board.
- Superior Market Fundamentals
- Current market vacancy for office space in Victorville is very low, at approximately 7.4%, with Victorville being the most established office market in the High Desert making up 48% of the 858 buildings in the 5,494,000 SF market.
* Ability to buy both buildings or each building separately.
Contact Information
Mark Shaffer
Lic. 01253743
+1 213 613 3758
mark.shaffer@cbre.com
Gary Stache
Lic. 00773736
+1 949 725 8500
gary.stache@cbre.com
Anthony Delorenzo
Lic. 01706686
+1 949 725 8425
anthony.delorenzo@cbre.com
Doug Mack
Lic. 01804065
+ 1 949 725 8571
doug.mack@cbre.com
Nick Svendsen
Lic. 01940653
+ 1 949 725 8471
nicholas.svendsen@cbre.com
Matt Pourcho
› San Diego Market
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com
Specializing in the Sale of Low Rise Office and Industrial Properties in Southern California
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
