15-YEAR BLACK BEAR DINER & 10-YEAR SCHOOLSFIRST CREDIT UNION - RANCHO CUCAMONGA, CA
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SUBJECT PROPERTY RENDERING 15-YEAR BLACK BEAR DINER & 10-YEAR SCHOOLSFIRST CREDIT UNION RANCHO CUCAMONGA, CA
Overview
BLACK BEAR DINER &
SCHOOLSFIRST FEDERAL CREDIT UNION
10910 E FOOTHILL BLVD, RANCHO CUCAMONGA, CA 91730
$7,464,000 5.35%
PRICE CAP
LEASABLE SF LEASE TYPE AVERAGE RENT/SF
10,239 SF Landlord Responsible $39
for Roof & Structure
LEASE TERMS YEAR RENOVATED
10-15 Years 2018
E-Commerce Resistant Tenant Mix – Credit Union & Restaurant
Credit Union is the 5th Largest in the U.S. w/ $13.6 billion in assets
Signalized, hard corner pad in high income and synergistic trade area
Benefiting from combined traffic counts of over 38,000 VPD
Coca-Cola, Frito-Lay, & Big Lots corporate are major employers
SURROUNDING RETAIL
High Incomes and tremendous density: $88,000 - $97,000 and
This information has been secured from sources we believe to be reliable but we make no
representations or warranties, expressed or implied, as to the accuracy of the information. 20,000 - 279,000 residents in the 1-5 mile radii 2
Buyer must verify the information and bears all risk for any inaccuracies.
Investment Highlights
Contact the
THE OFFERING is a Class A retail strip center in the affluent city of Rancho Cucamonga, team
CA. This 2-tenant retail center is leased to high quality e-commerce resistant tenants in the
restaurant and credit union categories. Black Bear Diner is a on a 15-year lease and SchoolsFirst
JOHN ANDREINI
Credit Union is on a 10-year lease. SchoolsFirst Credit Union is the 5th largest credit union in
jandreini@capitalpacific.com
the U.S. by asset size, which is $13.06 billion and was ranked the #1 credit union in the U.S. by
PH: 415.274.2715
Consumer Reports. The operator of the Black Bear Diner has over 25 restaurants in California
ID BRE# AB42816
and Idaho, including 10 Black Bear Diners, 14 Popeye’s, and a Sonic.
CA BRE# 01440360
The subject property sits on a premier signalized, hard corner intersection which features
over 38,000 vehicles per day on what is the primary retail corridor in the marketplace. In the
JUSTIN SHARP
trade area, there is over 1,500,000 square feet of class A retail serving a significant amount
jsharp@capitalpacific.com
of daytime office, medical, academic, and residential customers. Incomes are in the $88,000-
PH: 415.274.7392
97,000 range and there is excellent population density of 20,000-279,000 people in a 1-5
CA BRE#01895013
mile radii.
THE RETAIL MARKET - Target, PetSmart, Ross, Home Depot, Hobby Lobby, Seafood City,
Party City, ALDI, REI, Lowe’s and a number of other major retailers draw a significant customer
base to the trade area.
SURROUNDING RETAIL
This information has been secured from sources we believe
to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information.
Buyer must verify the information and bears all risk for any
inaccuracies.
3
Zoomed-Out Aerial
MILLIKEN AVENUE
28,300
VPD
LOS 15
187,000
ANGELES VPD
HAVEN AVENUE
KINDRED
HOSPITAL
RANCHO CITY OF
RANCHO
34,093
CUCAMONGA
VPD
E FOOTHILL BOULEVARD E FOOTHILL BOULEVARD
SAN
ANTONIO
REGIONAL
HOSPITAL
WEST PERDEW
HERITAGE ELEMENTARY
ELEMENTARY
WATER
OF LIFE
CHRISTIAN
SCHOOL
DONA
MERCED
TERRA VISTA ELEMENTARY
ELEMENTARY
15
GRAPELAND
ELEMENTARY
MILLIKEN AVENUE
HAVEN AVENUE
ETIWANDA CARLTON P.
INTERMEDIATE LIGHTFOOT
ELEMENTARY
VICTORIA
GROVES
ETIWANDA ELEMENTARY
HIGH
SCHOOL WINDROWS
ELEMENTARY RANCHO
CUCAMONGA
HIGH
SCHOOL
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
4
Zoomed-In Aerial
E
4,300
RUTH
NU
MUSSER
MIDDLE
VE
VPD
SCHOOL
NA
DONA
VE
MERCED
ELEMENTARY
HA
COYOTE
CANYON
ELEMENTARY
SPRUCE AVENUE
ELM
E FOOTHILL BOULEVARD E FOOTHILL BOULEVARD
AV
EN
1,277
UE
34,093 VPD
CITY OF
RANCHO
CUCAMONGA
VPD
RANCHO
SPECIALTY
HOSPITAL
MOUNTAIN
VIEW
KINDRED URGENT
CITY OF
RANCHO HOSPITAL CARE
CUCAMONGA UPLAND RANCHO
CHRISTIAN
ACADEMY
W
HI
TE
OAK AVENUE
EET
LOS
ANGELES
TR
RED OAK S
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
5
Surrounding Retail
6
SUBJECT PROPERTY RENDERING
Income & Expense
CURRENT
Price: $7,464,000
Capitalization Rate: 5.35%
Price Per Square Foot: $728.98
Total Leased (SF): 100.00% 10,239
Total Vacant (SF): 0.00% 0
Total Rentable Area (SF): 100.00% 10,239
INCOME PER SQUARE FOOT
Scheduled Rent $39.00 $399,321
EFFECTIVE GROSS INCOME $399,321
EXPENSE
CAM NNN $0 56859
Insurance NNN $0 10865
Property Taxes NNN $0
TOTAL OPERATING EXPENSES $0
NET OPERATING INCOME $399,321
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed
or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
7
Rent Roll
TENANT INFO LEASE TERMS RENT SUMMARY
PERCENT OF MONTHLY ANNUAL
TENANT SQ. FT. TERM RENT/FT
GLA RENT RENT
Black Bear Diner * 5,676 55.44% 01/10/19 01/31/24 $18,447 $221,364 $39.00
02/01/24 01/31/29 $20,292 $243,500 $42.90
02/01/29 01/31/34 $22,321 $267,850 $47.19
Option 1 02/01/34 01/31/39 $24,553 $294,641 $51.91
Option 2 02/01/39 01/31/44 $27,008 $324,100 $57.10
Option 3 02/01/44 01/31/49 $29,709 $356,510 $62.81
SchoolsFirst Federal Credit * 4,563 44.56% 01/10/19 01/31/24 $14,830 $177,957 $39.00
02/01/24 01/31/29 $16,313 $195,754 $42.90
Option 1 02/01/29 01/31/34 $17,537 $210,446 $46.12
Option 2 02/01/34 01/31/39 $19,290 $231,481 $50.73
Option 3 02/01/39 01/31/44 $21,218 $254,615 $55.80
OCCUPIED 10,239 100.00% $33,277 $399,321 $39.00
VACANT 0 0.00%
CURRENT TOTALS 10,239 100.00%
*Store openings are projected to be January 10, 2019.
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
8
Lease Abstract EXPENSES TENANT’S OBLIGATIONS
Tenant is responsible for all maintenance and repair of
the nonstructural portions of the premises, including the
HVAC unit. Tenant shall also pay Landlord for its pro-rata
PREMISES share of Common Area expenses.
& TERM LANDLORD’S OBLIGATIONS
Landlord is responsible for the maintenance and repair
TENANT Black Bear Diner of the roof and structure of the Tenant’s building, as well
BUILDING SF 5,676 SF as the underground utility lines up to the main point of
LEASE TYPE NN entry into the Premises. Landlord shall also maintain and
TERM 15 Years repair the common areas of the Property.
RENT COMMENCEMENT 01/10/2019 (estimated)
TENANT’S INSURANCE
EXPIRATION 01/31/2029
Tenant shall carry the following insurance policies: (i)
Liability Insurance with a limit no less than $2 million per
occurrence; (ii) Property Insurance providing coverage
on a replacement cost basis for Tenant’s property; (iii)
Automobile Liability Insurance with a limit no less than
RENT $1 million per accident; and (iiii) Workers’ Compensation
and Employers’ Liability Insurance. Tenant shall also
reimburse Landlord for its pro-rata share of Landlord’s
BASE RENT
insurance expenses.
DATE RANGE MONTHLY RENT ANNUAL RENT LANDLORD’S INSURANCE
01/10/19 - 01/31/24 $18,447 $221,364 Landlord shall carry the following insurance policies: (i)
02/01/24 - 01/31/29 $20,292 $243,500 Liability Insurance with a limit no less than $2 million per
02/01/29 - 01/31/34 $22,321 $267,850 occurrence; and (ii) Property Insurance that insures the
Building and the Property for full replacement value.
OPTIONS
TAXES
DATE RANGE MONTHLY RENT ANNUAL RENT Tenant shall reimburse Landlord for its pro-rata share of
#1. 02/01/34 - 01/31/39 $24,553 $294,641 the Real Property Taxes each Lease Year. Tenant shall
#2. 02/01/39 - 01/31/44 $27,008 $324,100 also pay all personal property taxes directly to the taxing
#3. 02/01/44 - 01/31/49 $29,709 $356,510 authority.
UTILITIES
Tenant is responsible for the payment of all utility charges,
and shall pay directly to the utility provider.
This information has been secured from sources we believe to be reliable but we make no representations or
warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and
9
bears all risk for any inaccuracies.
Lease Abstract EXPENSES TENANT’S OBLIGATIONS
Tenant is responsible for all maintenance and repair of
the nonstructural portions of the premises, including the
HVAC unit. Tenant shall also pay Landlord for its pro-rata
PREMISES share of Common Area expenses.
& TERM LANDLORD’S OBLIGATIONS
Landlord is responsible for the maintenance and repair
TENANT SchoolsFirst Federal Credit Union of the roof and structure of the Tenant’s building, as well
BUILDING SF 4,563 SF as the underground utility lines up to the main point of
LEASE TYPE NN entry into the Premises. Landlord shall also maintain and
TERM 10 Years repair the common areas of the Property.
RENT COMMENCEMENT 01/10/2019 (estimated)
TENANT’S INSURANCE
EXPIRATION 01/31/2029
Tenant shall carry the following insurance policies: (i)
Liability Insurance with a limit no less than $2 million per
occurrence; (ii) Property Insurance providing coverage
on a replacement cost basis for Tenant’s property; (iii)
Automobile Liability Insurance with a limit no less than
RENT $1 million per accident; and (iiii) Workers’ Compensation
and Employers’ Liability Insurance. Tenant shall also
reimburse Landlord for its pro-rata share of Landlord’s
BASE RENT
insurance expenses.
DATE RANGE MONTHLY RENT ANNUAL RENT LANDLORD’S INSURANCE
01/10/19 - 01/31/24 $14,830 $177,957 Landlord shall carry the following insurance policies: (i)
02/01/24 - 01/31/29 $16,313 $195,754 Liability Insurance with a limit no less than $2 million per
occurrence; and (ii) Property Insurance that insures the
OPTIONS Building and the Property for full replacement value.
DATE RANGE MONTHLY RENT ANNUAL RENT TAXES
#1. 02/01/29 - 01/31/34 $17,537 $210,446 Tenant shall reimburse Landlord for its pro-rata share of
#2. 02/01/34 - 01/31/39 $19,290 $231,481 the Real Property Taxes each Lease Year. Tenant shall
#3. 02/01/39 - 01/31/44 $21,218 $254,615 also pay all personal property taxes directly to the taxing
authority.
UTILITIES
Tenant is responsible for the payment of all utility charges,
and shall pay directly to the utility provider.
This information has been secured from sources we believe to be reliable but we make no representations or
warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and
10
bears all risk for any inaccuracies.Site Plan
10,649
VPD
CHUR
CH S
TREE
T
ELM AVENUE
SPRUCE AVENUE
1,277
VPD
4,300
VPD
34,093
VPD
E FOOTHILL BOULEVARD
This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must 11
verify the information and bears all risk for any inaccuracies.Tenant Mix
SCHOOLSFIRST FEDERAL BLACK BEAR DINER
CREDIT UNION
Black Bear Diner is a restaurant chain in the
western United States which serves homestyle and
SchoolsFirst Federal Credit Union is a federally chartered
“old-fashioned” comfort foods. The first restaurant
Credit Union with an 84 year operating history that
was opened in Mount Shasta, California, in 1995.
serves the educational community in Southern
The company is based in Redding, California. It
California. They are the 5th largest credit union in
now claims 106 locations in eight states. Black
the U.S. by asset size, which is $13.06 billion and was
Bear decor has a rustic motif with “over-the-
ranked the #1 credit union in the U.S. by Consumer
top bear paraphernalia”. Every restaurant is
Reports. They have almost $800M in cash and cash
decorated with a 12-foot-tall black bear carving.
equivalents according to their most recent 2016
It offers family meals such as breakfast, burgers,
Annual Report, which is up by $100M from 2015.
salads, and shakes. Baked goods prepared
on site, and some locations offer alcohol sales.
For more information on their financials, click HERE.
ABOUT GUARANTOR/
OPERATOR
The tenant operates over 25 restaurants including
10 Black Bear Diners, 14 Popeyes, a Sonic, and
a Twin Peaks restaurant. They will execute a
personal guaranty at closing, which will be cross-
collateralized with the above-mentioned operating
assets. This diversification of the sponsor guaranty
across national brands provides an investor
with a more stable and reliable income stream.
This information has been secured from sources we believe to be reliable but we
make no representations or warranties, expressed or implied, as to the accuracy
of the information. Buyer must verify the information and bears all risk for any
inaccuracies.
12Demographics
POPULATION RANCHO CUCAMONGA
1-MILE 3-MILES 5-MILES
2010 18,606 131,152 262,655
2017 20,325 139,747 279,324 LOS ANGELES
(51 MINS, 43 MILES)
2022 21,430 145,711 290,402
2017 HH INCOME
1-MILE 3-MILES 5-MILES
Average $88,287 $93,067 $97,174
TOP EMPLOYERS
EMPLOYER
Amphastar Pharmaceutical 880
Southern California Edison 800
Mercury Casualty 606
Big Lots 565 THE AVERAGE HOUSEHOLD
Frito-Lay 561 INCOME WITHIN A 5-MILE RADIUS
IS OVER $97K
This information has been secured from sources we believe to be reliable but we make no representations
or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information
and bears all risk for any inaccuracies.Location Overview
RANCHO CUCAMONGA,
CALIFORNIA
DOWNTOWN LOS ANGELES
RANCHO CUCAMONGA is a suburban city situated at the ABOUT THE SAN BERNARDINO COUNTY is offers
foothills of the San Gabriel Mountains in San Bernardino COUNTY incredible business advantages including a
County, California. It is located 43 miles east of Downtown skilled workforce of nearly 900,000, well-
Los Angeles. The city has an average of 287 sunny days per funded transportation infrastructure, a strategic gateway to
year offering residents and visitors excellent conditions for global market, access to a 2.1 million strong regional consumer
exploring the city’s 20+ parks and community facilities. The population, and affordable Southern California quality of life.
city has earned distinctions in several national magazines In the county alone there are nearly 1,800 manufacturers and
for being one of the top places to live in the U.S. due to it’s 4 engineering schools providing the area with a well-educated
great schools, neighborhoods, location, and business draw workforce.
- attracting business from the nation’s largest corporations
including Coca-Cola, Nong Shim, Frito-Lay, and Amphastar 2.1 MILLION This information has been secured from
sources we believe to be reliable but we make
Pharmaceuticals. The city has a strong, growing economy no representations or warranties, expressed or
implied, as to the accuracy of the information.
that provides employment opportunities for local residents, SAN BERNARDINO COUNTY Buyer must verify the information and bears all
risk for any inaccuracies.
POPULATION
attracts investments, supports local businesses, and generates (ESTIMATED)
public revenue. 14We’d love to hear
from you.
JOHN ANDREINI
jandreini@capitalpacific.com
PH: 415.274.2715
ID BRE# AB42816
CA BRE# 01440360
JUSTIN SHARP
jsharp@capitalpacific.com
PH: 415.274.7392
CA BRE#01895013
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This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies.REPRESENTATIVE PHOTO
SURROUNDING RETAIL
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