PARK CA For Sale > Downtown Menlo Park 1165 1195 Merrill Street Menlo Park, CA 94070 BRETT WEBER +1 650 771 3000 brett.weber@colliers.com CA License No. 00901454 STEVE DIVNEY +1 650 486 2224 steve.divney@colliers.com CA License No. 01216239 JOHN MCLELLAN +1 650 486 2223 john.mclellan@colliers.com CA License No. 01869489 MAC HART +1 650 670 7586 mac.hart@colliers.com CA License No. 01988510
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 (http://bit.ly/station1300) REET PARK, CA COLLIERS INTERNATIONAL 2
SITE MAP PARK CA Subject Property APN: 114-090-270 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
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
PROPERTY PHOTOS PARK CA REET PARK, CA COLLIERS INTERNATIONAL 5
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. 2018 Colliers International REET PARK, CA COLLIERS INTERNATIONAL 6
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. 2018 Colliers International REET PARK, CA COLLIERS INTERNATIONAL 7
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. 2018 Colliers International REET PARK, CA COLLIERS INTERNATIONAL 8
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. 2018 Colliers International REET PARK, CA COLLIERS INTERNATIONAL 9
PROPERTY PHOTOS PARK CA REET PARK, CA COLLIERS INTERNATIONAL 10
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. 2018 Colliers International REET PARK, CA COLLIERS INTERNATIONAL 11
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
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
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
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 2.1 40 $138,095 DEMOGRAPHIC SUMMARY Population 1 Mile 3 Mile 5 Mile 2017 Population 13,627 170,662 273,118 2022 Population 14,255 179,570 287,691 Pop Growth 2017-2022 4.6% 5.2% 5.3% 2017 Average Age 40 37 38 Households 2017 Households 6,116 58,887 96,482 2022 Households 6,394 61,986 101,648 Household Growth 2017-2022 4.6% 5.3% 5.4% Median Household Income $138,095 $101,834 $113,132 Average Household Size 2.1 2.7 2.7 Average HH Vehicles 2 2 2 Housing Median Home Value $1,137,794 $1,073,779 $1,087,526 Median Year Built 1957 1962 1960 REET PARK, CA COLLIERS INTERNATIONAL 15
ADDITIONAL INFORMATION PARK CA Google Street View: https://bit.ly/2i6xqqh Video Walkthrough: https://youtu.be/g8thscyodcq Title Report: https://bit.ly/2hf3idc Zoning Map: https://bit.ly/2fwxpww Menlo Park Specific Plan: https://bit.ly/2hhyt2h Bylaws of Menlo Square Association: http://bit.ly/2kjwpov CC&R's: http://bit.ly/2k7tyr5 Storage Unit Lease Agreement: http://bit.ly/2kmqq57 REET PARK, CA COLLIERS INTERNATIONAL 16
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 +1 650 771 3000 brett.weber@colliers.com CA License No. 00901454 STEVE DIVNEY +1 650 486 2224 steve.divney@colliers.com CA License No. 01216239 JOHN MCLELLAN +1 650 486 2223 john.mclellan@colliers.com CA License No. 01869489 MAC HART +1 650 670 7586 mac.hart@colliers.com CA License No. 01988510