INVESTMENT OPPORTUNITY HOLLISTER€¦ · base. Raytheon, FLIR, Yardi Systems, Medtronic, AppFolio, and many other engineering/tech firms located nearby. PROPERTY : Remodeled for Flexibility

142,382 SF creative office/R&D campus, remodeled with high-end improvements

Coastal Santa Barbara location with easy access to freeway and airport

Goleta/UCSB tech corridor with highly-educated employee base

High barriers to entry in market

NEW PRICING6.25% CAP RATE (PROJECTED)

INVESTMENT OPPORTUNITY

HOLLISTERBUSINESS PARK

GOLETA, CALIFORNIA

Francois [email protected]. 01144570

Steve [email protected]. 00827640

Experience. Integrity. Trust.Since 1993

INVESTMENT OVERVIEW

LOCATION: Goleta/UCSB Tech CorridorSituated near UCSB, Santa Barbara Airport, Sandpiper Golf Course, and the breathtaking Ellwood Bluffs, this creative office/R&D campus presents an ideal asset to capitalize on Goleta’s booming technology corridor and highly-educated population base. Raytheon, FLIR, Yardi Systems, Medtronic, AppFolio, and many other engineering/tech firms located nearby.

PROPERTY: Remodeled for FlexibilityOffering excellent flexibility, the property consists of five buildings totaling 142,382 SF, including creative office, R&D, some warehouse space with dock-high loading, and a freestanding gym. Much of the campus was meticulously remodeled with high-end creative office finishes, including exposed ceilings and skylights. Mature trees and landscaped outdoor break area create a serene setting on 11.56 acres.

TENANTS:

Price: $34,000,000 ($239 PSF)

Cap Rate: 6.25% (projected)

Brokerage: 0.5% to cooperating agent

Project: Hollister Business Park

Address: 7402-7412 Hollister Ave, Goleta

Zoning: M-RP (Business Park)

APN: 079-210-064

Lot Size: 11.56 Acres (503,554 SF) on one parcel

Buildings: Five

Rentable Area: 142,382 SF

Property Type: Majority office/R&D, some warehouse

Year Built: 1986-1987

Parking: 390 spaces (2.74/1,000)

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/10/17

222 E Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com 2

Hollister Business Park, Goleta CA | Creative Office/R&D Campus | 142,382 SF on 11.56 AcresFOR SALE




SITE







HOLLISTER AVE

OutdoorBreakArea

Site/Parking Plan

74124,082 SF (Gym)• LogMeIn (4,082)

740652,855 SF• In Touch Health (24,524)• Moog (19,398)• Vacant (8,933)

740818,450 SF• LogMeIn (18,450)

741038,970 SF• Vacant (38,970) Fully furnished 7402-7404

28,025 SF• InTouch Health (28,025) Subleased from Citrix Systems







Income and Tenants

A diverse software, networking, and cloud technology company, this growing entity provides solutions to more than 400,000 organizations and 100 million users globally. Citrix Systems, Inc. marked $2.38 billion of income in 2015 and continues to push the limits of productivity.

A provider of software as a service and cloud-based remote connectivity services for collaboration, IT management and customer engagement. The company’s products give users and administrators access to remote computers. In July 2016, LogMeIn announced a merger with the Citrix Online “GoTo” family of collaboration products.

InTouch Health is a telehealth network seamlessly connecting physicians to patients across the world. With over 200,000 physician encounters a year and growing at a rate of one new hospital a day, this company is expanding access to clinical care when and where it is needed.

Moog, Inc. is a worldwide designer, manufacturer, and integrator of precision motion control products and systems. Its systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, industrial machinery, marine applications, and medical equipment.

Founded: 1989NASDAQ: CTXSHQ: Fort Lauderdale, FL

Founded: 2003NASDAQ: LOGMHQ: Boston, MA

Founded: 2002HQ: Goleta, CA

Founded: 1951HQ: East Aurora, NY

Tenant SuiteSquare

FeetTerm

(months)Lease Begin

Lease End

Current Base Rate

Current Monthly Rent

Next Increase Date

Next Base Rent

Security Deposit

Rent Adj Options CAM %Lease Type

Comments

Citrix 7402 28,025 126 01/01/10 06/30/20 $1.37 $38,505.23 07/01/17 $39,660.39 $32,228.75 cpi, 3%, 6% na 20.26% NNN Sublease to InTouch Health

InTouch 7402 same 39 07/01/20 09/30/23 $1.50 07/01/21 $42,037.50 3% fixed One 5-yr @ FMV NNN Direct lease after sublease expires

Moog 7406, 100 19,398 84 06/01/16 05/31/23 $1.11 $21,500.00 06/01/17 $22,575.00 $31,005.02 Fixed One 5-yr @ FMV 14.03% NNN One-time right to terminate at 5 years

InTouch 7406, 101 24,524 84 10/01/16 09/30/23 $1.20 $29,428.80 10/01/17 $30,311.66 $124,336.68 3% fixed One 5-yr @ FMV 17.73% NNN

TBD 7406, 200 8,933 6.46%

LogMeIn 7408 18,450 12 05/01/17 04/30/18 $2.13 $39,225.91 05/01/18 $40,402.69 $0.00 3% fixed Two 1-yr @ 3% 13.34% NNN Logmein has obligation to restore to 100% office

TBD 7410 38,970 28.18%

LogMeIn 7412 4,082 60 05/01/17 04/30/22 $2.06 $8,422.49 05/01/18 $0.00 3% fixed na na GR Building sits on a 15k sf piece of land

Totals 142,382 $137,082.43 100.00%







7402-7404 HOLLISTER AVE7402-7404 is a single-story office/R&D building, recently remodeled extensively by Citrix. Currently subleased by InTouch Health with a direct lease in place after sublease expires.

Size: 28,025 SF

Tenant: InTouch Health

HVAC: Throughout

Restrooms: Two sets, one with shower

Sprinklers: Yes

Skylights: Yes

Ceiling Height: 18-foot exposed ceilings, some dropped areas

Power: 800 amps

Generator: 350 kW, 438 kVA Prime with full-height enclosure

Construction: Concrete tilt

Year Built: 1987







7406 HOLLISTER AVE7406 offers a mixture of office/R&D space and high-bay warehouse with heavy power and dock-high loading. The office/lab areas occupied by InTouch Health were meticulously remodeled by Citrix.

Size: 52,855 SF

Tenants: InTouch Health (24,524 SF) Moog (19,398 SF) Vacant (8,933 SF)

HVAC: AC in office areas; heat in warehouse

Restrooms: Three sets

Sprinklers: Yes

Elevator: Can be installed

Ceiling Height: 24’ in warehouse areas

Power: 1,600 amps

Loading: 1 ground-level roll-up on west side; 2 dock-high roll-ups on east side


Year Built: 1986







7408 HOLLISTER AVE7408 is a single-story office/R&D building that was partially converted to a server facility by Citrix. LogMeIn has an obligation to remove the server improvements and restore the building to 100% office/R&D.

Size: 18,450 SF (per lease) 18,776 SF (with addition)

Tenant: LogMeIn

HVAC: Throughout

Restrooms: Two sets, one with shower

Sprinklers: Yes

Ceiling Height: 16’

Generator: Yes


Year Built: 1987







7410 HOLLISTER AVE7410 is a single-story office/R&D building, remodeled with creative office finishes by Citrix and in fully furnished, “plug and play” condition. The multi-textured work environment includes high wood beam ceilings, exposed ducting, sculptural acoustical elements, and glass-wall offices.

Size: 38,970 SF

Tenant: Available 5/1/17

HVAC: Throughout

Restrooms: Two sets

Furniture: Fully furnished

Sprinklers: Yes

Skylights: Yes

Ceiling Height: 18-foot exposed ceilings, some dropped areas

Power: 800 amps

Generator: No


Year Built: 1987







7412 HOLLISTER AVE

7412 is a single-story building, remodeled and expanded in 2007 as a free-standing gym.

Size: 4,082 SF

Tenant: LogMeIn

HVAC: Yes

Restrooms: Yes, with showers

Year Built: 1987




AERIAL VIEW LOOKING WEST

HOLLISTER AVE

Documents

INVESTMENT OPPORTUNITY HOLLISTER€¦ · base. Raytheon, FLIR, Yardi Systems, Medtronic, AppFolio, and many other engineering/tech firms located nearby. PROPERTY : Remodeled for Flexibility