COLONY PLAZA A GROCERY-ANCHORED RETAIL CENTER LOCATED IN NORTHERN CALIFORNIA
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COLONY PLAZA
A GROCERY-ANCHORED RETAIL CENTER LOCATED IN NORTHERN CALIFORNIA
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, California License Number 01385740.
COLONY PLAZA RIPON, CALIFORNIA
`
MAJOR TENANTS INCLUDE:
TENANT SIZE (SF) LEASE EXP.
SAVE MART SUPERMARKETS
51,199 March 2027
(GROUND LEASE)
ESMERALDA’S
3,400 April 2027
AUTHENTIC MEXICAN
COUNTRY SKILLET 2,200 March 2027
SUPERCUTS 1,000 March 2022
INVESTMENT OVERVIEW
PROPERTY SUMMARY
HFF has been exclusively retained by Ownership to offer qualified investors the exciting
1140, 1220, 1222, 1290 W. Colony Road,
opportunity to acquire the fee simple interest in Colony Plaza (the “Property”), a 73,199 SF(1) ADDRESS 1452 Goodwin Drive & 450 Brady Lane
Ripon, California
grocery-anchored shopping center located in Ripon, California. The Property is 92% leased
% LEASED 92.4%
and anchored by Save Mart Supermarkets operating on a long-term fee simple ground lease
extending through 2027. This opportunity provides great upside potential to lease-up the SQUARE FEET 73,199
remaining available suites and to develop the two pad sites. Colony Plaza is well located just IN-PLACE NOI $364,811
off of Highway-99 with prominent pylon signage providing visibility to over 110,000 cars per SITE AREA ±10.36 Acres
day. Average incomes exceed $120,000 within a 1-mile radius. PARKING RATIO 5.70 / 1,000 SF
YEAR BUILT 2006/2007
SF excludes potential development of Pads 1 (5,000 SF) and Pad 3 (3,000 SF)
(1)
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CALIFORNIA GROCERY-ANCHORED RETAIL CENTER
INVESTMENT HIGHLIGHTS
G RO CERY-ANCHO R ED SH OPPI N G FE E S I M PL E GRO UN D L E AS E W I T H
$
CENTER IN CALIFOR N I A’ S CEN T RAL SAVE M A RT S UPE RM A RK E TS PROVI DE S
VALLEY EMBE DDE D VA LUE & DOW N S I DE
Grocery-anchored by Save Mart Supermarkets PR OT EC T I O N
($4.5B sales/213 stores) on a long-term ground Save Mart Supermarkets is paying less than $0.16/SF/
lease through 2027, providing a consistent, “daily month + NNN, an extremely low rent, providing investors
needs” draw to the Property. embedded value and downside protection.
SAVE MART SUPERMARKETS PERFORMANCE (YEAR ENDING JUNE-2017)
PROPERTY SF ANNUAL SALES SALES/SF ANNUAL + NNN RENT TOTAL RENT $/SF HEALTH RATIO
COLONY PLAZA 51,199 $21,999,026 $429.68 $212,155 $4.14 0.96%
SAVE MART SUPERMARKETS SALES GROWTH AT COLONY PLAZA
YE JUN-17 YE JUN-16 YE JUN-15 YE JUN-14 YE JUN-13 4YR. SALES GROWTH ANNUAL GROWTH
$429.68 $424.70 $411.23 $386.96 $371.21 15.75% 3.94%
RANKING FOR THE RANKING FOR
#91 #21 #34 #5
RANKING FOR TOP 50 LARGEST U.S. THE TOP 50
RANKING FOR TOP FASTEST GROWING
AMERICA’S LARGEST GROCERY CHAINS RETAIL CHAINS GROCERY CHAINS
PRIVATE COMPANIES (PROGRESSIVE
(THE BALANCE 2013)
(FORBES 2016) GROCER 2016) (CHAIN STORE
GUIDE 2010)
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COLONY PLAZA RIPON, CALIFORNIA
INVESTMENT HIGHLIGHTS (CONTINUED)
STRO NG G RO CERY STOR E SAL ES W I T H GR OW T H
Save Mart Supermarkets generates sales of almost $22M (±$430 PSF) and shows
positive sales growth (±16% over the past four years) with an outstanding health
ratio below 1.0%.
S IG NIFICANT VALUE-ADD UPSI DE VI A T H E L EASE- UP OF
AVAILAB LE S PAC E AN D POT EN T I AL PAD DEVELOPM EN T
Opportunity to create significant value through the lease-up of available space
(5,560 SF), and the potential development of the Pad 1 (±5,000 SF buildable) and
Pad 3 (±3,000 SF buildable).
LACK O F CO MP ET I T I ON
The nearest comparable grocer is over a 5-mile drive from the Subject, resulting
in increased traffic to Colony Plaza which has almost 20,000 residents within a
3-mile radius.
EXCELLENT VISI BI L I T Y, LOCAT I ON AN D ACCESS
Colony Plaza has prominent signage along Highway-99 exposing the center to
over 110,000 cars per day. This is in addition to the considerable traffic off of Colony
Rd., Goodwin Dr. and Brady Ln. totaling an additional 15,000 vehicles per day.
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CALIFORNIA GROCERY-ANCHORED RETAIL CENTER
LOCATION MAP
SMF
COLONY
PLAZA
OAK
SFO
MAJOR AIRPORTS:
SJC
OAKLAND INT’L
64 Miles
AIRPORT (OAK)
SACRAMENTO INT’L
76 Miles
AIRPORT (SAC)
SAN JOSE INT’L
77 Miles
AIRPORT (SJC)
SAN FRANCISCO
84 Miles
INT’L AIRPORT (SFO)
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COLONY PLAZA RIPON, CALIFORNIA
DEMOGRAPHICS N
SAVE MART CENTER 3-MILE 5-MILE
2022 POPULATION PROJECTION 19,548 55,905
2017 POPULATION ESTIMATE 18,330 52,226
RIPON HIGH RIPON
POPULATION % GROWTH (2017-2022) 6.6% 7.0%
SCHOOL CHRISTIAN
2017 EST. AVERAGE HOUSEHOLD INCOME $108,862 $98,109 SCHOOLS
99
110
,00
0
VE
HIC
LE
SP
ER
CROSSFIT DA
Y
COLONY COLONY PLAZA
PYLON SIGNAGE
PLAZA TRUCK
TERMINALS
R
AD
W. C
O
RO
A FFLU E N T T RADE AREA LO N
Y RO
NE
Average household income exceeds $120,000 within a 1-mile AD
TO
radius and nearly $110,000 within a three-mile radius.
CK
JA
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CALIFORNIA GROCERY-ANCHORED RETAIL CENTER
INVESTMENT HIGHLIGHTS (CONTINUED)
STRO NG TENANT SAL ES
Average sales per square foot is is nearly $415 for
those tenants that report (Save Mart Supermarkets,
Esmeralda’s Authentic Mexican, Masumi, My Thai
Cuisine, and Pro Nails).
INSTITU TIO NALLY M AN AGED ASSET
The Property has been meticulously maintained by
institutional ownership significantly reducing future
capital costs.
U NENCU MB ERED ASSET
The Property is being delivered free and clear of
existing financing, providing the opportunity to
take advantage of the historically low interest rate
environment and enhanced leveraged returns.
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COLONY PLAZA RIPON, CALIFORNIA
INVESTMENT OVERVIEW
STE TENANT SF % NRA LEASE EXP.
1-1 Vacant 1,080 1.5% n/a
1-2 Pro Nails 1,140 1.6% Jan-19
Golden Bear
1-3 1,600 2.2% Mar-22
Physical Therapy
1-4 Vacant 1,480 2.0% n/a
1-5 My Thai Cuisine 1,300 1.8% Jul-22
1-6 Supercuts 1,000 1.4% Mar-22
Esmeralda's
1-7 3,400 4.6% Apr-27
Authentic Mexican
2-1 Masumi 2,000 2.7% Oct-18
2-2 Vacant 1,800 2.5% n/a
2-4 Country Skillets 2,200 3.0% Mar-27
Save Mart
MJR 51,199 69.9% Mar-27
Supermarkets
PAD 2-1 Singh Indian (OFS)* 1,300 1.8% Nov-22
PAD 2-2 Eyebrow Threading 900 1.2% Dec-19
PAD 2-3 Vacant 1,200 1.6% n/a
PAD 2-4 H&R Block 1,600 2.2% Apr-18
TOTAL AVAILABLE SF 5,560 7.6%
TOTAL OCCUPIED SF 67,639 92.4%
TOTAL OVERALL SF 73,199
*OFS - Out For Signature
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CALIFORNIA GROCERY-ANCHORED RETAIL CENTER
SITE PLAN W COLONY RD
SHOPS 2
2-4
NOT BUILT
2-1 2-2 2-4
PAD 3
2-3
2-2
2-1
PAD 2
GOODWIN DR
N
YL
RD
BA
LT
TB 1
1-7 1-6 1-5 1-4 1-3 1-2 1-1
UI
NO AD
P
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COLONY PLAZA
A GROCERY-ANCHORED RETAIL CENTER LOCATED IN NORTHERN CALIFORNIA
INVESTMENT SALES ADVISORS
GLEB LVOVICH BRYAN LEY ERIC KATHREIN
949.798.4115 310.407.2120 415.510.6961
glvovich@hfflp.com bley@hfflp.com ekathrein@hfflp.com
CA RE Lic. #01496699 CA RE Lic. #01458927 CA RE Lic. #01896107
ASSOCIATE DEBT GUIDANCE MARKET & LEASING EXPERT
MARK DEGIORGIO PETER SMYSLOWSKI JEANETTE WOERMAN-MASON
949.798.4138 415.276.6950 Brekke Real Estate
mdegiorgio@hfflp.com psmyslowski@hfflp.com 209.571.7230
CA RE Lic. #02026853 CA RE Lic. #01301231 jeanette@brekkere.com
CA RE Lic. #01748696
www.hfflp.com
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©2017 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate
industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.You can also read
