Girard RETAIL PORTFOLIO 7527-7535, 7545-7549 Girard Avenue La Jolla, CA 92037 Bill Shrader Senior Vice President +1 858 677 5324 bill.shrader@colliers.com Lic. No. 01033317 Joe Brady Senior Associate +1 858 677 5359 joe.brady@colliers.com Lic. No. 01908072 Luke Holler Associate +1 858 677 5315 luke.holler@colliers.com Lic. No. 01961057 Todd Law Capital Growth Properties +1 858 729 9305 tlaw@cgpinc.com Lic. No. 01309241
Girard Ave PORTFOLIO Investment Highlights Colliers International is pleased to present a rare opportunity to acquire prime Girard Avenue assets in the heart of La Jolla Village, one of the nation s most affluent neighborhoods. PRIME GIRARD AVENUE Iconic Harry s Coffee Shop across the street from busy neighborhood shopping center STABLE/CREDIT INCOME STREAM The asset has the ideal combination of long term tenants and strong newcomers with a history of a consistent, stable income stream and growth potential DEMOGRAPHIC BASE With an established affluent community, the site caters heavily to local residents & visitors while benefiting from a solid daytime population Colliers International and Capital Growth Properties, as exclusive agents for Seller, are pleased to present to qualified investors the opportunity to acquire prime Girard Avenue assets in the heart of the Village of La Jolla, one of the nation s most affluent neighborhoods. Located on the highly coveted Girard Avenue corridor, the portfolio consists of two multi-tenant mixed-use properties, home to the La Jolla landmark Harry s Coffee Shop since 1960. This portfolio is an excellent investment for a buyer looking for quality real estate with long term growth potential in the Village of La Jolla. This is a rare opportunity to acquire prized, irreplaceable coastal assets in a world-class community, located on one of Southern California s most iconic streets. The Village of La Jolla is home to a variety of business like major restaurants, high-end boutiques, world famous hotels, investment firms, law firms, accounting firms and real estate offices. CENTRAL LOCATION & DEMOGRAPHICS Site offers convenient access to Torrey Pines Rd, a key egress in and out of downtown La Jolla via Interstate 5 REDEVELOPMENT POTENTIAL Under current zoning, Buyer has the opportunity to redevelop the south parcel into over 16,000 SF of residential and commercial uses FINANCING OPPORTUNITY The asset will be delivered unencumbered, allowing a buyer to customize a financing package in today s low interest rate environment LIMITED SUPPLY Constrained market conditions and a propensity for local investors to hold long-term restricts supply in the Village of La Jolla create strong barriers to entry DIVERSIFIED INTERNATIONAL DRAW/TOURISM Great weather aside, La Jolla is recognized for its incredible location on hillside, sweeping ocean views and year round tourism. La Jolla has long been regarded as a premier shopping destination
The Offering PROPERTY SUMMARY OFFERING TERMS Parcel #1 Parcel #2 Parking Lot Total Parcel #1 Parcel #2 Address 7527-7535 Girard La Jolla, CA 92037 7545-7553 Girard La Jolla, CA 92037 Herschel Ave. La Jolla, CA 92037 Price $9,495,000 $3,675,000 $6,000,000 APN 350-621-05 350-621-03 350-621-11 Rentable Square Feet 13,910 SF 9,749 SF 9,805 SF Improvements 6,261 SF Commercial Building 7,649 SF Restaurant/Retail Building Parking Lot Net Operating Income Contact Broker Contact Broker Contact Broker Lot Size 9,749 SF 9,805 SF 6,670 SF Percentage Leased 100% upon delivery Comments Mixed-use property with two apartments and long term retail tenants Multi-tenant building featuring Harry s Coffee Shop & Everett Stunz Option to buy separately $2,250,000 Transaction Timetable And Procedure Offers Contact listing broker to schedule a tour of the property. Forty-Eight hour notice is appreciated. The Seller reserves the right to sell the property at anytime during the marketing period without prior notice. The property will be sold on an as-is basis. 4 GIRARD RETAIL PORTFOLIO COLLIERS INTERNATIONAL 5
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PARCEL #1 NOT A PART GIRARD AVE PARCEL #2 NOT A PART POTENTIAL LA JOLLA COVE TORREY PINES RD GIRARD AVE PARCEL #2 NOT A PART NOT A PART POTENTIAL PARCEL #1 8 GIRARD RETAIL PORTFOLIO COLLIERS INTERNATIONAL 9
Major Tenants Sales Comps 1144, 1158-70, 1172 PROSPECT* 7420-7426 GIRARD AVE 1020 PROSPECT TENANT ADDRESS ABOUT Harry s Coffee Shop 7545 Girard Ave http://harryscoffeeshop.com/ Inspired by the coffee shops and diners of his native Brooklyn, Harry Rudolph opened Harry s Coffee Shop opened in 1960. Three of Harry s children operate the restaurant today, the classic diner remains a La Jolla institution, the place locals go home to! Everett Stunz 7547 Girard Ave https://www.everettstunz.com Everett Stunz is San Diego s Premier Linen & Bed store. The have operated in La Jolla, California on Girard Ave for 50 years. They are the original Adjustable bed store offering an exclusive line of Everett Stunz Adjustable & Flat beds that can be custom made to customers own specifications. Sale Date: 04/02/2018 Bldg SF: 12,272 Sale Price: $16,200,000 Price/SF: $1,320 Land Area: 21,828 Land/SF: $742 Sale Date: 03/16/2018 Bldg SF: 7,017 Sale Price: $4,470,000 Price/SF: $637 Land Area: 16,949 Land/SF: $264 Sale Date: 04/7/2017 Bldg SF: 3,517 Sale Price: $4,650,000 Price/SF: $1,322 Land Area: N/A - Retail Condo Land/SF: - *Portfolio sale of 3 properties 7916 GIRARD AVE 7824 GIRARD AVE* 7650 GIRARD AVE Sale Date: 09/2/2016 Sale Date: 01/12/2016 Sale Date: 10/1/2015 Bldg SF: 2,075 Bldg SF: 10,259 Bldg SF: 17,500 Sale Price: $2,200,000 Sale Price: $8,896,000 Sale Price: $13,690,000 Price/SF: $1,060 Price/SF: $867 Price/SF: $782 Land Area: 3,484 Land Area: 7,013 Land Area: 7,000 Land/SF: $631 Land/SF: $1,268 Land/SF: $1,956 *100% vacant at closing 10 GIRARD RETAIL PORTFOLIO COLLIERS INTERNATIONAL 11
Population 37,593 Median Home Sale Price $1,900,000 Median Age 44.8 Average Household Income $161,412 Daytime Population 75,880 Annual Visitors 7,000,000 La Jolla. the Jewel Of San Diego La Jolla is an affluent neighborhood in San Diego, California. It is a hilly seaside community, occupying 7 miles of curving coastline along the Pacific Ocean within the northern city limits. La Jolla home prices are among the highest in Southern California. With a population of nearly 38,000, La Jolla is surrounded on three sides by ocean bluffs and beaches and is located 12 miles north of Downtown San Diego, and 40 miles south of Orange County, California. La Jolla is home to a variety of businesses in the areas of lodging, dining, shopping, software, finance, real estate, bio-engineering, medical practice and scientific research. The University of California, San Diego (UCSD) is located in La Jolla, as are the Salk Institute, Scripps Institution of Oceanography, and the headquarters of National University. La Jolla is home to Torrey Pines Golf Course, site each January or February of a PGA Tour event called the Farmers Insurance Open. Downtown La Jolla is noted for jewelry stores, boutiques, upmarket restaurants and hotels. Prospect Street and Girard Avenue are also shopping and dining districts. 12 GIRARD RETAIL PORTFOLIO COLLIERS INTERNATIONAL 13
FITNESS STUDIOS ENTERTAINMENT & HOTELS La Jolla 24 Hour Fitness Club SPARKCYCLE La Jolla Woman s Club The Conrad The Lot 3 La Valencia LA JOLLA COVE La Jolla Tennis Club 4 The Grand Colonial Orange Theory Fitness La Jolla La Jolla Sports Club RESTAURANTS & CAFES Herringbone Prana Yoga Center Buddhi yoga 3 Burger Lounge Pilates Plus La Jolla Whisknladle Bistro & Bar Puesto Mexican Street Food BANKS California Bank & Trust 23 Brockton Villa Restaurant Wells Fargo Bank Eddie V s Prime Seafood Starbucks U.S. Bank Branch Union Bank 4 Juice Kaboose Prepkitchen La Jolla Bank of America Financial Center First Citizens Bank 7 Harry s Coffee Shop The Cottage La Jolla George s at the Cove Duke s La Jolla Cody s La Jolla The Spot Brick & Bell Cafe 17 Vons 7 Chase REAL ESTATE Capital Growth Properties, Inc. Marengo Morton Architects La Jolla San Diego Real Estate First American Title Company Pacific Sotheby s International Realty MUSEUMS & ART GALLERIES Museum of Contemporary Art 17 19 20 SITE 18 BevMo 19 Chipotle 20 Starbucks Legends Gallery Ian Ely Gallery - La Jolla Africa and Beyond 18 22 21 21 Pannikin Aldis Browne Fine Arts 22 CVS Thumbprint Gallery 23 Karl Strauss Brewing Company SCHOOLS La Jolla Elementary School The Bishop s School Stella Maris Academy La Jolla Historical Society Mangelsen - Images of Nature Gallery Martin Lawrence Galleries National Geographic Fine Arts Galleries Siamak Art Gallery LA JOLLA NATIONAL PARK 14 GIRARD RETAIL PORTFOLIO COLLIERS INTERNATIONAL 15
Iconic La Jolla GIRARD RETAIL PORTFOLIO Bill Shrader Senior Vice President +1 858 677 5324 bill.shrader@colliers.com Lic. No. 01033317 Joe Brady Senior Associate +1 858 677 5359 joe.brady@colliers.com Lic. No. 01908072 Luke Holler Associate +1 858 677 5315 luke.holler@colliers.com Lic. No. 01961057 Todd Law Capital Growth Properties, Inc. +1 858 729 9305 tlaw@cgpinc.com Lic. No. 01309241 This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, 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 inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of 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). 2017. All rights reserved.