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Bldg 3 27240 W Turnberry Ln 59,168 SF 92% Leased Office Building Valencia, CA 91355 For Sale
Investment Highlights
- Stabilized Multi-Tenant Office Opportunity with Upside
- Attractive Market Momentum in Greater LA
Executive Summary
The Opportunity
* Originally constructed in 1999 in anticipation of the development of Newhall Ranch (now FivePoint Valencia)--the largest master-planned development in North American at conception with 21,500 homes across 14,000 acres--which has begun delivery of the first homes and will continue to do so over the next decades for an anticipated 60,000 residents.
* Summit III offers excellent location at the junction of Interstate 5 and Highway 126, providing access to employees in Los Angeles and Ventura Counties. The surrounding neighborhoods are enriched with growing amenities serving current and incoming residents and businesses.
Stabilized Multi-Tenant Office Opportunity with Upside
* Health Occupancy: Currently ±97.5% leased, the rent roll reflects a tenant mix that is diversified across industries and business models. The two anchor tenants, Auto Club of SoCal and Barrister Executive Suites, have occupied their spaces for 10+ years. More than half of the rental area are occupied by investment-grade tenants (Auto Club of Socal, AM Best A+; State of California, Moody’s Aa2).
* Low Rollover Risks: The remaining in-place weighted-average lease term totals ±4.8 years, with less than 39% of the rentable area expiring in the first 5 years of ownership.
* Durable Cash Flow: Year 1 NOI totals $1.05 million, improving to $1.46 million during the 10-year hold period. In-place annual rent growth provides an attractive protection against inflationary risks.
Attractive Market Momentum
* Greater LA return to office stats trails national trends primarily due commute factors that are more of factor in Los Angeles than in other large cities. Valencia’s
strong labor base will continue to attract companies as employers seek to offer solutions to employees who are reluctant to commit to returning due to long
commute patterns. Furthermore, reverse commuting patterns allow Valencia businesses to attract employees from the geographically diverse San Fernando
Valley, which, if ranked by total population, would rank among the top 10 cities in the United States.
* Newhall Ranch, the largest residential entitlement in LA County is now under construction and will deliver 20,000 new residences by mid 2040s. Not only
will Summit at Valencia benefit from its proximity to this development, but the market will as well as employers continue to be attracted to the area due to its
strong demographics, safety, affordability, and amenity base.
* Originally constructed in 1999 in anticipation of the development of Newhall Ranch (now FivePoint Valencia)--the largest master-planned development in North American at conception with 21,500 homes across 14,000 acres--which has begun delivery of the first homes and will continue to do so over the next decades for an anticipated 60,000 residents.
* Summit III offers excellent location at the junction of Interstate 5 and Highway 126, providing access to employees in Los Angeles and Ventura Counties. The surrounding neighborhoods are enriched with growing amenities serving current and incoming residents and businesses.
Stabilized Multi-Tenant Office Opportunity with Upside
* Health Occupancy: Currently ±97.5% leased, the rent roll reflects a tenant mix that is diversified across industries and business models. The two anchor tenants, Auto Club of SoCal and Barrister Executive Suites, have occupied their spaces for 10+ years. More than half of the rental area are occupied by investment-grade tenants (Auto Club of Socal, AM Best A+; State of California, Moody’s Aa2).
* Low Rollover Risks: The remaining in-place weighted-average lease term totals ±4.8 years, with less than 39% of the rentable area expiring in the first 5 years of ownership.
* Durable Cash Flow: Year 1 NOI totals $1.05 million, improving to $1.46 million during the 10-year hold period. In-place annual rent growth provides an attractive protection against inflationary risks.
Attractive Market Momentum
* Greater LA return to office stats trails national trends primarily due commute factors that are more of factor in Los Angeles than in other large cities. Valencia’s
strong labor base will continue to attract companies as employers seek to offer solutions to employees who are reluctant to commit to returning due to long
commute patterns. Furthermore, reverse commuting patterns allow Valencia businesses to attract employees from the geographically diverse San Fernando
Valley, which, if ranked by total population, would rank among the top 10 cities in the United States.
* Newhall Ranch, the largest residential entitlement in LA County is now under construction and will deliver 20,000 new residences by mid 2040s. Not only
will Summit at Valencia benefit from its proximity to this development, but the market will as well as employers continue to be attracted to the area due to its
strong demographics, safety, affordability, and amenity base.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
59,168 SF
Building Class
B
Year Built
1999
NOI
$1,431,087 CAD
Percent Leased
92%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
29,584 SF
Slab To Slab
11’
Building FAR
0.40
Lot Size
3.43 AC
Zoning
A2
Parking
100 Spaces (1.69 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Office space available for lease at the Summit at Valencia.
Office space available for lease at the Summit at Valencia.
Office space available for lease at the Summit at Valencia.
Office space available for lease at the Summit at Valencia.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 205 | 5,603 SF | Office | Partial Build-Out | 30 Days |
| 2nd Fl-Ste 210 | 1,449 SF | Office | Partial Build-Out | Now |
| 2nd Fl-Ste 240 | 1,494 SF | Office | Partial Build-Out | Now |
| 2nd Fl-Ste 250 | 1,708 SF | Office | Partial Build-Out | Now |
2nd Fl-Ste 205
| Size |
| 5,603 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| 30 Days |
2nd Fl-Ste 210
| Size |
| 1,449 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 240
| Size |
| 1,494 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 250
| Size |
| 1,708 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 205
| Size | 5,603 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | 30 Days |
Office space available for lease at the Summit at Valencia.
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 210
| Size | 1,449 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Office space available for lease at the Summit at Valencia.
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 240
| Size | 1,494 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Office space available for lease at the Summit at Valencia.
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 250
| Size | 1,708 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Office space available for lease at the Summit at Valencia.
Property Taxes
| Parcel Numbers | Improvements Assessment | $8,700,469 CAD | |
| Land Assessment | $2,579,680 CAD | Total Assessment | $11,280,149 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$2,579,680 CAD
Improvements Assessment
$8,700,469 CAD
Total Assessment
$11,280,149 CAD
Contacts
-
Mark Shaffer -
Gerard Poutier -
Anthony DeLorenzo -
Sean Sullivan -
Michael Longo -
Melissa Moock -
CBRE, Inc.
1 of 21
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Bldg 3 | 27240 W Turnberry Ln
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