Investment Summary
| Asking Price | $2,900,000 |
| Occupancy | 100% |
| Property Size | ±10,464 SF |
| Land Size | ±1.09 Acres |
| Parking Ratio | ±7.2/1,000 SF |
*Ability to buy the neighboring property as well, please call for details.
Investment Highlights
- Long Term Stable Cash Flow County Leased Investment
- Brand new 8 year lease with the State of California Water Board who occupies 78% of the property through April 2024 with the remaining 22% of the property leased to Spectrum Urgent Care until December 2020 providing long term stable cash flow.
- High Image Best Of Class Above Standard Parking Office | Medical Buildings
- High image best in class office/medical building 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 7.2 to 1 parking ratio, which has enabled the property to attract the most desirable office and medical tenants at premium rents.
- 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.
- Excellent Office | Medical Property Location
- Ideally located midway between highly traveled Mojave Drive and Roy Rogers Drive on Amargosa Road with immediate I-15 freeway access. Midtown Spectrum is within close proximity to numerous notable retail amenities such as Walgreens, Wells Fargo, Starbucks, Farmer Boys, Panda Express, and In-N-Out Burger. Within a 3-mile radius of the project, there are 163 restaurants, 21 hotels & motels, 18 grocery stores, 9 fitness centers and 9 banks.
- Victorville is an ideal business community because of its affordable housing and access to a deep labor pool. The property is within 15 miles of 384,043 people with an average household income of $56,618.
Click to Download Offering Memorandum
Contact Us
Mark Shaffer
Lic. 01253743
+1 213 613 3758
mark.shaffer@cbre.com
Doug Mack
Lic. 01804065
+ 1 949 725 8571
doug.mack@cbre.com
Gary Stache
Lic. 00773736
+1 949 725 8500
gary.stache@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
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