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Bldg 3 27240 W Turnberry Ln 59,168 SF 97% Leased Office Building Valencia, CA 91355 $12,000,000 ($202.81/SF) 8.93% Cap Rate
Investment Highlights
- Stabilized Multi-Tenant Office Opportunity with Upside
- Attractive Market Momentum in Greater LA
Executive Summary
* 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 ±97.6% 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 $1.07 million, improving to $1.55 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
Amenities
- Atrium
- Wheelchair Accessible
- Accent Lighting
- Car Charging Station
- Central Heating
- Direct Elevator Exposure
- Outdoor Seating
- Air Conditioning
- Smoke Detector
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Office space available for lease at the Summit at Valencia.
| Space | Size | Space Use | Build-Out | Available |
| 2nd Fl-Ste 240 | 1,494 SF | Office | Partial Build-Out | Now |
2nd Fl-Ste 240
| Size |
| 1,494 SF |
| Space Use |
| Office |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 240
| Size | 1,494 SF |
| Space Use | Office |
| Build-Out | Partial Build-Out |
| Available | Now |
Office space available for lease at the Summit at Valencia.
Property Taxes
| Parcel Numbers | Improvements Assessment | $6,395,899 | |
| Land Assessment | $1,896,377 | Total Assessment | $8,292,276 |
Property Taxes
Contacts
-
Mark Shaffer -
Gerard Poutier -
Anthony DeLorenzo -
Sean Sullivan -
Michael Longo -
Grant Goldman -
CBRE, Inc.
