www.ngpearson.com FRESNO OFFICE: 7480 N Palm Ave Suite 101 Fresno CA 93711, T 559.432.6200 VISALIA OFFICE: 3447 S Demaree St Visalia CA 93277, T 559.732.7300 Independently Owned and Operated Troy A. McKenney Senior Vice President -Investment Division 559.447.6277 [email protected]CA BRE #00952671 Craig Holdener Vice President - Retail Division 559.447.6293 [email protected]CA BRE #01904352 RETAIL INVESTMENT FOR SALE Offering Memorandum 1810, 1820 & 1840 Shaw Ave. - Clovis, CA (not a part) (not a part) (not a part)
Transcript
www.ngpearson.com
FRESNO OFFICE: 7480 N Palm Ave Suite 101 Fresno CA 93711, T 559.432.6200 VISALIA OFFICE: 3447 S Demaree St Visalia CA 93277, T 559.732.7300
Independently Owned and Operated
Troy A. McKenneySenior Vice President -Investment [email protected] BRE #00952671
Craig Holdener Vice President - Retail [email protected] BRE #01904352
RETAIL INVESTMENT FOR SALEOffering Memorandum
1810, 1820 & 1840 Shaw Ave. - Clovis, CA
(not a part)(not a part)(not a part)
S H AW AV E N U E
FO
WL
ER
AV
EN
UE
= S U B J E C T
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
MOUNTAIN VIEW CENTRELocation/Site Aerial
Located on the heavily traveled east-west Shaw Avenue corridor, the Mountain View Centre is situated on the southeast corner of Shaw and Fowler
Avenues in Clovis, CA. This location serves both the densely populated surrounding residential area as well as outlying rural areas of Eastern Clovis.
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
Address: 1810, 1820, & 1840 Shaw Avenue,
Clovis, CA 93611
Total Leasable Building Size: 21,879± SF
Total Land Size: 3.04± acres
Zoning: P-C-C (Planned Commercial Center) City of Clovis
APNs: 552-020-01S, 08S, & 23S (Fresno County)
Vacancy Rate: 14% (3,141± SF)
Net Operating Income (Actual)*: $299,706
Purchase Price: $4,475,000.00
Cap Rate: 6.7%
*Based on current income, 2016 actual expenses and current insurance premium. Property taxes calculated at $4,475,000 purchase price.
• Anchored by Walmart Neighborhood Market (not a part)
• 3 Individual Parcels Totaling 21,879± SF of Retail Space
• National, Regional and Local Tenant Mix of Many Long Term Tenants
Highlights
The Mountain View Centre features a newer Walmart Neighborhood Market as its
anchor tenant along with multiple national tenants including: True Value Hardware,
Chase Bank, American Tire Depot and Little Caesars.
The offering includes 3 separate parcels totaling 21,879± SF of retail shops
containing a strong mix of national and local tenants. Mountain View Centre is
located at the SEC of Shaw and Fowler Avenues less than one mile from
Sierra Vista Mall.
Note: Walmart, True Value Hardware, and American Tire Depot are not a part of the offering.
Property Description
Property Details
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
1810, 1820 & 1840 SHAW AVE., CLOVIS CAAerial Map
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
1810, 1820 & 1840 SHAW AVE., CLOVIS CAArea Map
Fresno County Parcels: 552-020-01S, 552-020-08S, 552-020-23S
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
MOUNTAIN VIEW CENTREParcel Map
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
ping center with four anchors and over 85 retail and
restaurant spaces totaling 690,487± square feet .
The Clovis community has strong family values, an
award-winning school district and exceptional qual-
ity of life, which is often referred to as the “Clovis
Way of Life”. The mall’s outdoor lifestyle amenities
include a state-of-art, stadium seating movie theater,
retail/restaurant buildings, a community park/con-
cert area with beautiful fountains and landscaping .
Sierra Vista Mall is the retail center for Clovis and its
surrounding areas. Major anchors are Target, Sears,
Kohl’s and the Sierra Vista Cinemas 16 Theater.
Synonymous with quality
sandwich making and supe-
rior customer service, Port of Subs® made-fresh-to-
order sandwiches are prepared while the customer
looks on. In 1972, two brothers from New Jersey
opened a modest submarine shop in Sparks, Nevada.
Today Port of Subs® has more than 140 units open
in seven Western states.
Little Caesar Enterprises
operates and franchises
more than 4,000 Little Caesars carryout pizza loca-
tions throughout the US. The chain offers a variety
of original and deep-dish pizzas along with cheese
bread, salads, and sandwiches. While some stores
are stand-alone units, many Little Caesars locations
can be found in strip malls and other high-traffic
areas; the units typically do not offer dine-in seating.
Approximately 80% of the chain’s outlets are run by
franchisees. Little Caesars was founded in 1959 by
Mike and Marian Ilitch, who also control a sports and
entertainment empire through Ilitch Holdings.
Chase is the U.S. consumer
and commercial banking
business of JPMorgan Chase & Co. (NYSE: JPM), a
leading global financial services firm with over $2
trillion in assets and 260,000 employees worldwide.
Chase bank is the largest retail bank by assets in the
United States and boasts over 5,200 locations and
16,000 ATM’s.
In 1991, American Tire Depot made
a commitment to provide the most
outstanding customer service while offering our val-
ued customers the lowest prices on the world’s best
tire brands like Goodyear, Michelin, BFGoodrich,
Dunlop and more. Now boasting over 90 locations,
American Tire Depot has become a one stop shop
for all automotive maintenance needs including
oil changes, brakes, shocks and struts, alignments,
TPMG resets, battery service, coolant flushes and
more.
In 1948 John Cotter
founded Cotter & Com-
pany, a retailer-owned cooperative that included 25
independently owned and operated member stores.
With the purchase of Hibbard, Spencer and Bartlett
in 1963, Cotter acquired the company and the True
Value trademark - a long-standing brand and pres-
ence since 1932. The co-op’s commitment to its
membership was furthered in 1997 when Servistar
Coast to Coast – merged with Cotter and Company.
The alliance formed one of the industry’s largest
dealer-owned buying groups. As one of the world’s
largest retailer-owned hardware cooperatives, True
Value represents independent retailer locations
in over 60 countries with retail sales in their com-
munities totaling about $5.5 billion with 13 regional
distribution centers and approximately 2,500 True
Value Associates.
Starting small, with a single
discount store and the
simple idea of selling more
for less, Walmart has grown over the last 50 years
into the largest retailer in the world. Each week,
over 260 million customers and members visit our
11,695 stores under 59 banners in 28 countries
and e-commerce websites in 11 countries. With
fiscal year 2017 revenue of $485.9 billion, Walmart
employs approximately 2.3 million associates world-
wide. Nationwide, Walmart employs more than 1.5
million U.S. associates at more than 4,600 stores and
clubs, including 698 Neighborhood Markets.
Clovis, CA
41168
411684141
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
MOUNTAIN VIEW CENTREArea Overview
City of Clovis: Located in the northeast quadrant of the Fresno-Clovis Metropolitan Area, Clovis
is situated in the midst of the agriculturally rich San Joaquin Valley. Since its incorporation in 1912,
Clovis has been the “Gateway to the Sierra.” Today, under the slogan of “A Way of Life,” Clovis con-
tinues to plan and adapt to meet the needs of its present and future citizens by promoting planned
growth while retaining its unique atmosphere.
The City’s population has more than doubled since 1985, reaching the current level of 102,188,
and encompassing over 24 square miles in area. Clovis combines an accessible small town feel with
the amenities offered by the Fresno metropolitan area. Our community boasts multiple cultural
landmarks, a highly educated workforce with some of the highest paying jobs in the region and a
diverse real estate stock with a variety of commercial, industrial and retail space.
Clovis is home to various technology oriented companies and features a variety of options for com-
panies looking to relocated, including prime industrial space and the technology-ready Research
and Technology Business Park. The City’s economic base consists of retail sales services and light
manufacturing. Availability of housing, high-quality hospital care, award-winning schools with mod-
ern facilities, responsive safety services, a mild climate, access to varied recreational opportunities,
and strong community identity all contribute to Clovis’ reputation as a great place to live. Clovis has
maintained a small town community spirit as envisioned by its early founders, which is exemplified
by such community events as the annual Rodeo, Big Hat Days, and a weekly Friday night Famer’s
Market. This community pride, combined with Clovis’ unique
growth opportunities, continues to attract new residents,
developers, businesses, and industries to the City
Clovis Ranked #1 City to Raise a Family In a ranking that
scored California cities in five categories, which included
school ratings, home values, home ownership costs, house-
hold income, and income growth, the City of Clovis was
ranked No. 1 in California to Raise a Family by leading money
blog NerdWallet.com.
Fresno, CA
Clovis, CA99
99
41168
4118041180
4141
4141
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
County of Fresno: Producing of 250 different crops in rich, fertile soils, the San Joaquin Valley is
known as “the fruit basket of the world”. The area has a high quality of life with urban amenities
while also being proximate to recreational opportunities, primarily in the Sierra Nevadas, where
people hike, ski, rock climb and participate at water sports in one of the three nearby National
Parks (Yosemite, Sequoia, Kings Canyon) or national forests.
Fresno County is centered in the world’s 7th largest economy, the San Joaquin Valley. As of the
2010 census, the population was 930,450. Fresno County is also home to California’s 5th largest
city, Fresno. It is located between California’s major markets, and considered one of the most cost-
effective, accessible regions in California.
From light manufacturing to large heavy industrial to warehouse and distribution, Fresno County
has an expanding industrial market with additional land suitable for all business need that provides
access to major highways, rail, and flexibility for future expansion.
Fresno County is home to several universities, such as California State University, Fresno; Univer-
sity of Phoenix; National University; Fresno Pacific University, State Center Community District,
West Hills Community College District, as well as an abundance of trade and technology institu-
tions, providing companies with highly-skilled and well-prepared graduates.
www.ngpearson.com
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
FRESNO OFFICE: 7480 N Palm Ave, Suite 101 Fresno CA 93711T 559.432.6200
VISALIA OFFICE: 3447 S Demaree St Visalia CA 93277T 559.732.7300
Troy A. McKenneySenior Vice PresidentInvestment [email protected] BRE #00952671
