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Theatre Square 140 2nd St 52,678 SF 100% Leased 4-Star Office Building Petaluma, CA 94952 For Sale
Investment Highlights
- High Quality, Class “A” Office & Retail Asset
- 94% Occupancy & Stable Cash Flow
- Professionally Managed & Maintained
- Strong & Diverse Tenancy
- “Core” Property Located in Thriving Downtown
- Ideal 1031 Exchange Asset
Executive Summary
Jones Lang LaSalle Brokerage, Inc. (“JLL”), as exclusive advisor, is pleased to present the very rare and outstanding opportunity to acquire a 100% fee-simple interest in Theatre Square, a Class “A” 3-story mixed-use development totaling approximately 59,861 RSF of ground floor retail and second floor offices that are currently 94% leased. Theatre Square is located at 140 2nd Street in the heart of the charming Downtown Petaluma, within the “Theatre District”.
This impeccably maintained core asset occupies the premier location in Petaluma’s thriving Downtown Theatre District, linking together all elements of a bustling, modern mixed-use community. Petaluma’s Downtown Theatre District continues to experience strong growth and vitalization driven by an influx of young families migrating north from neighboring Marin County and other areas. This demographic shift continues to energize downtown Petaluma, with new residents supporting local retailers, restaurants, and service businesses.
The property has a diverse mix of 21 tenants, including 11 office tenants and 10 retail tenants, most of which have a long history at the property. The asset also features a current WALT (“Weighted Average Lease Term”) of 40 months providing a strong cash flow and stable tenant base.
Astute investors have a rare opportunity to acquire an irreplaceable, income producing asset in the premier location in Petaluma’s most prominent district and one of Northern California’s most dynamic growth markets. The asset’s exceptional and diversified tenancy, strong demographic tailwinds, and formidable barriers to entry, should provide stability and long term appreciation, all at a significant discount to estimated replacement cost. For further information, please contact one of JLL Advisory Agents listed on page 6 or request an Offering Memorandum by visiting our:
Revere Deal Page
*Note: The 3rd floor multifamily apartments are not included in this sale.
This impeccably maintained core asset occupies the premier location in Petaluma’s thriving Downtown Theatre District, linking together all elements of a bustling, modern mixed-use community. Petaluma’s Downtown Theatre District continues to experience strong growth and vitalization driven by an influx of young families migrating north from neighboring Marin County and other areas. This demographic shift continues to energize downtown Petaluma, with new residents supporting local retailers, restaurants, and service businesses.
The property has a diverse mix of 21 tenants, including 11 office tenants and 10 retail tenants, most of which have a long history at the property. The asset also features a current WALT (“Weighted Average Lease Term”) of 40 months providing a strong cash flow and stable tenant base.
Astute investors have a rare opportunity to acquire an irreplaceable, income producing asset in the premier location in Petaluma’s most prominent district and one of Northern California’s most dynamic growth markets. The asset’s exceptional and diversified tenancy, strong demographic tailwinds, and formidable barriers to entry, should provide stability and long term appreciation, all at a significant discount to estimated replacement cost. For further information, please contact one of JLL Advisory Agents listed on page 6 or request an Offering Memorandum by visiting our:
Revere Deal Page
*Note: The 3rd floor multifamily apartments are not included in this sale.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
52,678 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2007
Percent Leased
100%
Building Height
3 Stories
Typical Floor Size
17,559 SF
Building FAR
3.02
Lot Size
0.40 AC
Zoning
CITYPE
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Very walkable
80/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
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