For Sale > Downtown Menlo Park

Transcription

1 PARK CA For Sale > Downtown Menlo Park Merrill Street Menlo Park, CA BRETT WEBER CA License No STEVE DIVNEY CA License No JOHN MCLELLAN CA License No MAC HART CA License No

2 PROPERTY HIGHLIGHTS PARK CA > ±7,463 total square footage > Excellent Silicon Valley location in the heart of downtown Menlo Park > Fully equipped, restaurant ready, indoor and outdoor dining > Walk to restaurants, entertainment and Caltrain Station (across the street) > Upside: value-add potential with zoning favoring some office conversion > Abundant and secure below-grade parking > Adjacent to transformative Station 1300 development and steps from Santa Cruz Avenue ( REET PARK, CA COLLIERS INTERNATIONAL 2

3 SITE MAP PARK CA Subject Property APN: Building Square Footage: Existing: Existing Use: Existing Lease Status: Approximately 7,463 SF Single-Story, Two (2) Units Restaurant (Retail) No current rental income, ability to vacate in 60 days REET PARK, CA COLLIERS INTERNATIONAL 3

4 PATH TO OFFICE CONVERSION PARK CA Step 1: Affirmative vote of the Commercial Condo Owners (Building 1 and Building 2) to amend the CC&R's to allow office use in subject property. Step 2: Approval of the City of Menlo Park* *Process and permits required to change use is TBD. Images are renderings of potential office configurations and do not represent the actual property. REET PARK, CA COLLIERS INTERNATIONAL 4

5 PROPERTY PHOTOS PARK CA REET PARK, CA COLLIERS INTERNATIONAL 5

6 FLOOR PLAN 1195 Merrill Street: PARK CA Interior: ±925 SF Covered Patio: ±1,050 SF Total: ±1,975 SF 1165 Merrill Street: Interior: ±3,838 SF Kitchen #2 Covered Patio: ±1,650 SF Total: ±5,488 SF Total Interior: ±4,763 SF Total Covered Patio: ±2,700 SF Total: ±7,463 SF Merrill Street Kitchen #1 Drawings Not Exact, Not to Scale. The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents Colliers International REET PARK, CA COLLIERS INTERNATIONAL 6

7 FLOOR PLAN PARK CA 1195 Merrill Street Interior Detail Drawings Not Exact, Not to Scale. The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents Colliers International REET PARK, CA COLLIERS INTERNATIONAL 7

8 FLOOR PLAN PARK CA 1165 Merrill Street Interior Detail Drawings Not Exact, Not to Scale. The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents Colliers International REET PARK, CA COLLIERS INTERNATIONAL 8

9 PARKING PLAN PARK CA 28 Shared Below-Grade Parking Spaces Storage Units Drawings Not Exact, Not to Scale. The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents Colliers International REET PARK, CA COLLIERS INTERNATIONAL 9

10 PROPERTY PHOTOS PARK CA REET PARK, CA COLLIERS INTERNATIONAL 10

11 DEVELOPMENT ACTIVITY PARK CA 1300 El Camino Real ±200,000 SF Office, ±28,000 SF Retail, ±183 Residential 1125 Merrill Street ±8,732 SF Office and Residential Development OAK GROVE AVENUE 1020 Alma Street ±25,000 Square Foot Development PARK CA SANTA CRUZ AVENUE AVENUE Menlo Park EL CAMINO REAL ALMA STREET 506 Santa Cruz Avenue ±19,388 SF Office and Residential Development Nealon Park 556 Santa Cruz Avenue ±14,210 SF Office, Retail & Residential Development UNIVERSITY DRIVE 650 Live Oak Avenue ±25,420 Square Foot Development 500 El Camino Real ±142,840 SF office, ±10,286 SF retail, ±215 residential The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents Colliers International REET PARK, CA COLLIERS INTERNATIONAL 11

12 M E N LO DOWNTOWN PARK AMENITIES PARK CA mi no Re Al al ma St re et Café Barrone Left Bank Starbucks Trader Joe s Ristorante Carpaccio Cold Stone Creamery Peet s Coffee Draeger s Market British Banker s Club (BBC) Kepler s Books Refuge & Many More Points of Interest za ve Restaurants Coffee & Drinks Me nlo Av e nu e ac ru Sa nt Oa kg ro nu ve e Av e nu e Ca PARK CA Walkable to a Variety of Restaurant, Retail, Bar & Drink Amenities M E N LO El Grocery & Retail Caltrain Station REET PARK, CA COLLIERS INTERNATIONAL 12

13 M E N LO REGIONAL MAP PARK CA S an e ridg M E N LO Foster City San Mateo eo B Mat PARK CA Belmont San Carlos Redwood City Menlo Park Atherton Palo Alto Stanford Mountain View Los Altos = Stations REET PARK, CA = Sunnyvale Stations COLLIERS INTERNATIONAL 13

14 LOCAL EMPLOYERS PARK CA Oakland International Airport Hayward San Francisco Union City Fremont Daly City Newark Milpitas South San Francisco San Francisco International Airport Foster City Millbrae San Mateo Redwood City Palo Alto San Jose International Airport Menlo Park Stanford University Mountain View Sunnyvale Santa Clara San Jose Cupertino STATIONS ROUTE San Mateo County Unemployment Rates > San Mateo County Unemployment Rate 2.7% > City of San Mateo Unemployment Rate 2.6% > Redwood City Unemployment Rate 2.5% > South San Francisco Unemployment Rate 2.9% > City of San Bruno Unemployment Rate 2.6% > Menlo Park Unemployment Rate 2.1% Source: Bureau of Labor Statistics (September 2017) REET PARK, CA COLLIERS INTERNATIONAL 14

15 DEMOGRAPHIC SUMMARY PARK CA Population (1 (1 mile) mi) Avg. Avg. Household HH Size Size (1 mi) (1 mile) Average Avg. Age (1 (1 mi) mile) Med. Household Med. HH Inc. Income (1 mi) (1 mile) 13,627 DEMOGRAPHIC RADIUS RINGS $138,095 DEMOGRAPHIC SUMMARY Population 1 Mile 3 Mile 5 Mile 2017 Population 13, , , Population 14, , ,691 Pop Growth % 5.2% 5.3% 2017 Average Age Households 2017 Households 6,116 58,887 96, Households 6,394 61, ,648 Household Growth % 5.3% 5.4% Median Household Income $138,095 $101,834 $113,132 Average Household Size Average HH Vehicles Housing Median Home Value $1,137,794 $1,073,779 $1,087,526 Median Year Built REET PARK, CA COLLIERS INTERNATIONAL 15

16 ADDITIONAL INFORMATION PARK CA Google Street View: Video Walkthrough: Title Report: Zoning Map: Menlo Park Specific Plan: Bylaws of Menlo Square Association: CC&R's: Storage Unit Lease Agreement: REET PARK, CA COLLIERS INTERNATIONAL 16

17 PARK CA COLLIERS INTERNATIONAL DISCLAIMER: This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees or representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquires as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). For further information, please contact exclusive agents: BRETT WEBER CA License No STEVE DIVNEY CA License No JOHN MCLELLAN CA License No MAC HART CA License No