9680 Haven Avenue, Rancho Cucamonga, CA 91730

$21,000,000
75,349
SqFt
List Price
$21,000,000
Status
ACTIVE
MLS#
WS19185537
Year Built
2007
Living Sq. Ft
75,349
Days on Market
17
Property Type
Commercial
Property Sub Type
Office

Property Description

9680 Haven represents an excellent opportunity for an astute investor to acquire a stabilized Class A office building with credit tenants and long-term durable cash flow in a supply-constrained sub-market below replacement costs and yield an above market CAP rate of 6.63% in Year 1. Constructed in 2007, the three-story high image building is 100% leased to five tenants with a weighted average remaining lease term of approximately 6.4 year. The buyer can expect stable cash flow and low rollover costs and risks. The five tenants are recognized leaders in a diversified mix of industries including technology, financial service, education, legal service and sports. Anchor tenant Novatime Technology, a subsidiary of a venture owned by private equity firm Summit Partners ($19 billion assets under its management), is under a 10-year lease. Pacific Western Bank, a NASDAQ company with a market cap of $4,400 million, has maintained its presence in the building since 2007. University of Redlands has just extended its lease term at this mission-critical location after its initial opening in 2007. US Legal Support, a litigation support firm which has been at this location since 2014, is rapidly expanding its footprints nationwide. The NBA team Los Angeles Clippers (Valued at $2.2 billion) is the most recent addition to an impressive roster. In addition to stability, the built-in annual rent escalations offer the new owner an attractive inflation-hedge as well as income growth.

Additional Information

Heat
Central
Cooling
Yes
Cooling Description
Central Air, Zoned
Roof
Bitumen, Flat, Reflective
Water
Public

Mortgage Calculator

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Listing courtesy of FRANKLIN SHEN from REALTY ADVISORS INTL, INC.

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.