Property Summary
Addresses 31 Journey, Aliso Viejo, CA 92656
Total Square Feet ±18,105 Sq. Ft.
Percent Leased 49%
Availability9,150 SF on the Second Floor, representing 51% of the asset
Year Built 1991
Floors Two (2)
Land Area 1.19 acres
Parking Stalls/Ratio 4:1,000
Investment Summary
Asking Price $5,884,125 ($325 PSF)
1st Floor Tenant In-Place NOI $166,020
Offering SummaryInvestment OverviewCushman & Wakefield of California, Inc., as exclusive advisor, is pleased to offer the exceptional opportunity to acquire 31 JOURNEY (the “Property”), an ±18,105 sq. ft, freestanding, two-story high-image office building located in Aliso Viejo, California.
Built in 1991 and renovated in 2015, the property is 51% available, offering an Owner/User the ability to acquire a cash flowing assetin a dynamic millennial-focused Southern California location with strong market fundamentals, amenities, and housing supply.
2 | Cushman & Wakefield
High Image, Well Maintained Office Asset31 Journey provides its occupants with a high corporate image due to its glass-clad façade, separate entryways and creative office interior. The Property has benefited from the recent infusion of substantial capital, boasting a new roof, HVAC, exterior façade and entryway, and state-of-the-art creative office tenant improvements.
The Post-COVID Future of OfficeThe Property benefits from highly demanded COVID-friendly features, providing a controlled private office environment and ensuring peace of mind for any user and their employees. Featuring only two stories, each with private access, restrooms, and separate HVAC, the Property is well positioned for the future of office that is increasingly demanded by corporations exiting traditional large executive multi-tenant buildings.
Investment Highlights
31 Journey | Alison Viejo, CA | 3
Epicuren Discovery, LLC 8,955 RSF ; 49% Exp. 1/27; 5.5 Years
Available to User 9,150 SF, 51% available to User
4 | Cushman & Wakefield
An owner-user can occupy the entire 2nd floor, up to ±9,150 Sq. Ft., (51%), accessed via a private exterior entryway.
The first floor provides an owner-user stable cashflow, leased for over five years as a headquarter location for Epicuren Discovery, an established skincare company. Recently renovated into creative office, the suite includes open ceilings, polished concrete floors, a large kitchen, and glass-clad conference rooms that mitigates any possible lease-up time and capital outlay potentially required in the future.
The $166,020 of In-Place NOI obtained from Epicuren Discovery would cover an owner-user’s SBA 504 monthly mortgage payment.
Ideal Owner-User Opportunity
31 Journey | Alison Viejo, CA | 5
South Orange County has quickly become the premier location within Orange County for younger individuals and corporations alike. Catalyzed by the rise of the Irvine Spectrum, the county’s premier live-work-play environment, access to world class beaches, and most of the County’s new master planned residential and retail developments, South Orange County has become a demanded location requirement for any competitive company in the region.
Part of Aliso Viejo’s Pacific Parks’ Amenity Rich EnvironmentThe Property is situated in Aliso Viejo’s master planned Pacific Park, offering an irreplaceable coastal location off SR-73 and with quick access to I-5, I-405, and SR-133. Pacific Park’s plan incorporates an all-encompassing live-work-play environment with over 5,500 resort style apartment units, large shopping centers, and multiple single-family residential communities.
Strong South Orange County Market FundamentalsThe property is part of the 20.7 million square foot South County office submarket which continues to experience extraordinary demand and has become the new center of Orange County regarding both office and housing dynamics. The Submarket is host to Orange County’s tech ecosystem, led by both long established companies and start-ups looking to attract within the areas high-skilled talent pool. South Orange County is the driving force behind Orange County’s ranking as the 15th fastest growth market for tech job growth in the U.S. and is expected to be the primary beneficiary of the growing life science and medical industries.
Premier OC Location
Journey
Journey
Aliso Viejo Pkwy
Aliso Viejo Pkwy
Aliso V
iejo
Pkwy
Aliso V
iejo
Pkwy
Jour
ney
Jour
ney
Pacific Park Dr.Pacific Park Dr.
City Lights at Town Center Apartments
6 | Cushman & Wakefield
Journey
Journey
Alis
o Cr
eek
Rd.
Alis
o Cr
eek
Rd.
Aliso Creek Rd.
Aliso Creek Rd.
Aliso Creek Rd.
Aliso Creek Rd.
Pacific Park Dr.Pacific Park Dr.
Pacific Park Dr.Pacific Park Dr.
73
73
Aliso Viejo’s
ALISO VIEJO’S TOWN CENTER
Over 50 dining, shops, and entertainment
businesses
2,021 resort style apartment, condo, and
townhome units complete with amenities, public parks, and hiking trails
Aliso Viejo Community ParkAliso Viejo Community Park
Woodfield ParkWoodfield Park
Foxborough Street Elementary SchoolFoxborough Street Elementary School
Aliso Viejo High SchoolAliso Viejo High School
31 Journey | Alison Viejo, CA | 7
LocationAddress: 31 Journey, Aliso Viejo, CA, 92656
Office Market: Orange County
Industrial Submarket: South Orange County
Assessor’s Parcel No.: 632-134-05
Access:There is one point of ingress/egress off of Journey.
Building SizeTotal Rentable Area: ±18,105 Sq. Ft.
Land Size: 1.20 Acres / 52,336 Sq. Ft.
Coverage: 34.6%
Number of Buildings: One
Number of Tenants:Four; Three of which have leases expiring in the near-term.
Occupancy:100%; however, the entire 2nd floor (±9,150 Sq. Ft., 51%) can be delivered vacant.
Property Description
8 | Cushman & Wakefield
Building Features
Construction Type: Concrete Tilt-Up
Roof:Replaced in 2020 with an eight-year warranty
HVAC:Recently replaced rooftop package units
Sprinklers: Monitored Sprinkler System
Utilities:
y Electricity: Southern California Edison
y Water: Moulton Niguel Water District
y Gas: The Gas Company
y Trash: CR&R Waste Services
Police Dept.: Orange County Sheriff
Fire Dept.: Orange County Fire Authority
Building Construction
Construction Type: Concrete Tilt-Up
Roof:Replaced in 2020 with an eight-year warranty
HVAC:Recently replaced rooftop package units
Sprinklers: Monitored Sprinkler System
31 Journey | Alison Viejo, CA | 9
Site Plan
JOU
RN
EY
ALI
SO
CR
EE
K R
OA
D
EXISTING BUILDING
1,300 Sq. Ft.
16,735 Sq. Ft.
10 | Cushman & Wakefield
Floor Plans First Floor | ±8,955 RSF
Epicuren Discovery, LLC: ±8,955 Sq. Ft. Leased through January 31, 2027
12 | Cushman & Wakefield
Floor Plans Second Floor | ±9,151 RSF
Nicholas Beimfohr: ±180 Sq. Ft. | Exp: 1/31/22
Chronic Tacos: ±3,977 Sq, Ft. | Exp: 11/30/21
Lee Law Firm: ±4,994 Sq. Ft. | Exp: 10/31/21
2nd Floor tenants would be open to downsizing and renewing into a total of approximately 4,575 RSF, leaving a potential investor/partial-user a minimum of 4,576 RSF.
31 Journey | Alison Viejo, CA | 13
42 Miles of World Renowned Beaches
15th in tech job
growth in U.S.
SKIING
LOS ANGELES
LAS VEGAS
PALM SPRINGS
ORANGE COUNTY
SAN DIEGOBEACHES
Highest average SAT scores in SoCal and 2nd
highest in the state
Diverse Economic Drivers
� High Tech / Gaming
� Life Sciences
� Action Sports
� Healthcare
� Tourism
� Business & Professional Services
� Green Economy
� Quick Serve Restaurants
� Automotive
Huntington Beach, Newport Beach, Crystal Cove, Laguna Beach,
Dana Point and San Clemente
Home to 25 Accredited Universities:1. UC, Irvine
2. Cal State Fullerton
3. Chapman University
40.3% of all degrees
are STEM-related
R A N K E D
6th most populous county in the U.S. (3.2M People)
OR
AN
GE
COASTAL LIFESTYLE
LA: 9.50%
SF: 8.50%
OC: 7.75%
S A L E S TA X
Orange County’s Story
ENTERTAINMENT NEW HOUSING
14 | Cushman & Wakefield
Culver City
HawthorneManahttan Beach
Moorpark
Redondo Beach
Santa MonicaMalibu
Beverly Hills
WestHollywood
Buena Park
CypressCarson
ChinoChino Hills
ClaremontCovina
Lake Forest
FountainValley
Glendora
HuntingtonPark
La Verne
Laguna Hills
Laguna NiguelLaguna Beach
Lakewood
Lynwood
Mission Viejo
Montclair
Montebello
Monterey Park
Newport Beach
Rancho SantaMargarita
Rosemead
San Gabriel
Altadena
ArcadiaAzusa
BaldwinPark
Tustin
Bellflower
Upland
Westminster
Whittier
Yorba Linda
Aliso Viejo
Eastvale
Jurupa Valley
Burbank
Santa Clarita
Simi Valley
Thousand Oaks
Torrance
Corona
Costa Mesa
El Monte
Glendale
Downey
Fullerton
Garden Grove
HuntingtonBeach
Irvine
Norwalk
Ontario
Orange
Pasadena
Pomona
RanchoCucamonga
West Covina
LONG BEACH
SANTA ANA
ANAHEIM
LOS ANGELES
N5 MILES
5
10
10
10
605
710
15
15
15
105
1105
5
5
405
405
405
Culver City
HawthorneManahttan Beach
Moorpark
Redondo Beach
Santa MonicaMalibu
Beverly Hills
WestHollywood
Buena Park
CypressCarson
ChinoChino Hills
ClaremontCovina
Lake Forest
FountainValley
Glendora
HuntingtonPark
La Verne
Laguna Hills
Laguna NiguelLaguna Beach
Lakewood
Lynwood
Mission Viejo
Montclair
Montebello
Monterey Park
Newport Beach
Rancho SantaMargarita
Rosemead
San Gabriel
Altadena
ArcadiaAzusa
BaldwinPark
Tustin
Bellflower
Upland
Westminster
Whittier
Yorba Linda
Aliso Viejo
Eastvale
Jurupa Valley
Burbank
Santa Clarita
Simi Valley
Thousand Oaks
Torrance
Corona
Costa Mesa
El Monte
Glendale
Downey
Fullerton
Garden Grove
HuntingtonBeach
Irvine
Norwalk
Ontario
Orange
Pasadena
Pomona
RanchoCucamonga
West Covina
LONG BEACH
SANTA ANA
ANAHEIM
LOS ANGELES
N5 MILES
5
10
10
10
605
710
15
15
15
105
1105
5
5
405
405
405
Culver City
HawthorneManahttan Beach
Moorpark
Redondo Beach
Santa MonicaMalibu
Beverly Hills
WestHollywood
Buena Park
CypressCarson
ChinoChino Hills
ClaremontCovina
Lake Forest
FountainValley
Glendora
HuntingtonPark
La Verne
Laguna Hills
Laguna NiguelLaguna Beach
Lakewood
Lynwood
Mission Viejo
Montclair
Montebello
Monterey Park
Newport Beach
Rancho SantaMargarita
Rosemead
San Gabriel
Altadena
ArcadiaAzusa
BaldwinPark
Tustin
Bellflower
Upland
Westminster
Whittier
Yorba Linda
Aliso Viejo
Eastvale
Jurupa Valley
Burbank
Santa Clarita
Simi Valley
Thousand Oaks
Torrance
Corona
Costa Mesa
El Monte
Glendale
Downey
Fullerton
Garden Grove
HuntingtonBeach
Irvine
Norwalk
Ontario
Orange
Pasadena
Pomona
RanchoCucamonga
West Covina
LONG BEACH
SANTA ANA
ANAHEIM
LOS ANGELES
N5 MILES
5
10
10
10
605
710
15
15
15
105
1105
5
5
405
405
405
31 Journey | Alison Viejo, CA | 15
Aliso Viejo y Orange County’s newest city, incorporated in 2001 and 4 miles from
Laguna Beach
y A Master-planned development containing a balance between residential neighborhoods, parks & recreation, schools, and commercial uses
y 2019 Population of 51,000 with 1,600 residential units built since 2000
y Named one of the Top 25 Towns to Live Well by Forbes
y 3rd safest city in the United States (source: SERVIZ)
y Home to the headquarters of several large corporations
y Recognized for hosting fast-growing, entrepreneurial industries such as medical device, technology, software, biotech, pharmaceutical, and gaming.
y 21 parks withing 6 square miles and every resident lives within 3 miles of the Town Center
y Home to 18-hole championship golf course, designed by golfer Jack Nicklaus
Aliso Viejo Major Office Occupiers
Name Industry
Pacific Life Life Insurance
MicroVention Health Care / Life Science
Glaukos Labs Health Care / Life Science
Metagenics Health Care / Life Science
Ambry Genetics Health Care
Covenant Care Ca. Health Care / Skilled Nursing
Quest Software IT Servives
UST Global IT Services
Flour Engineering
Microsemi Semiconductors
US Web Telecommunication
QLogic Computer Networking
Apex Parks Group Technology
Acetel Technology
New Home Co Home Builder
31 Journey | Alison Viejo, CA | 17
Rent RollSize of Premises Lease Dates Annual Rent ($/SF) Monthly Rent ($/SF) Current
Tenant Name Vacant Leased% of
Portfolio Begin End Term$/SF/Year
Adjust Date $/SF/Mo. Rent/Mo. % ∆ Rent/$Yr
Epicuren Discovery, LLC 8,955 49.46% 2/1/2020 1/31/2027 84 Mos. $18.00 –- $1.50 $13,433 –- $166,026$18.54 06/01/21 $1.55 $13,835 3.0%$19.10 06/01/22 $1.59 $14,251 3.0%$19.67 06/01/23 $1.64 $14,678 3.0%$20.26 06/01/24 $1.69 $15,118 3.0%$20.87 06/01/25 $1.74 $15,572 3.0%$21.49 06/01/26 $1.79 $16,039 3.0%
Comments: Reimbursements: NNN. Security Deposit: $16,500. Parking: 31 Stalls
Lee Hernandez Attorney 4,994 27.58% 8/1/2013 10/31/2021 99 Mos. $26.23 –- $2.19 $10,914 –- $130,968
Comments: Reimbursements: BY 2013. Security Deposit: $9,274. Parking: 11 Stalls
Chronic Tacos 3,977 21.97% 3/1/2014 11/30/2021 93 Mos. $26.40 –- $2.20 $8,749 –- $104,988
Comments: Reimbursements: BY 2014. Security Deposit: $8,749.40. Parking: 11 Stalls
Nicholas Beimfohr 180 0.99% 2/1/2019 1/31/2022 36 Mos. $96.67 –- $8.06 $1,450 –- $17,400
Comments:
Vacant SF Leased SF Occupancy 100.0% Annual Rent $419,3820 18,106 Vacancy 0.0% Annual Rent/SF $23.99
Total NRA (SF): 18,106 Total 100.0% Monthly Rent/SF $2.00
18 | Cushman & Wakefield
NICO NAPOLITANO +1 949 955 7642 [email protected] Lic. #01962860
JEFFREY COLE +1 949 955 7652 [email protected] Lic. #00833681
JASON PALDA +1 949 836 1555 [email protected] Lic. #00896764
ED HERNANDEZ +1 949 930 4380 [email protected] Lic. #01048813
SAN DIEGO, CA Mark Avilla Peter Curry Brooks Campbell Duncan Dodd Kevin Cuff
ORANGE COUNTY, CA Nico Napolitano Randy Ellison
INLAND EMPIRE, CA Nicole Brosious Emily Brun
PHOENIX, AZ Eric Wichterman Michael Coover Will Strong Greer Oliver Chris Hollenbeck
DENVER, CO Jon Hendrickson Mitch Veremeychik
LAS VEGAS, NV Marlene Fujita Charles Moore Hunter Bradshaw
LOS ANGELES, CA Brandon Burns Steve Algermissen
SAN JOSE, CA Jon DeCoite
AUSTIN, TX/ SAN ANTONIO, TX Carrie Caesar
HAWAII Ryan Sakaguchi
For more information, please contact one of the following individuals:
CUSHMAN & WAKEFIELD OF CALIFORNIA 18111 Von Karman Ave., | Suite 1000 | Irvine, CA 92612
INVESTMENT ADVISORS
PRIVATE CAPITAL GROUP | ONE TEAM | TEN MARKETS
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©2021 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representation, express or implied, is made as to the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or future property performance.