SINGLE TENANT KELLY-MOORE PAINTS - NET LEASED - Northgate Commercial Real Estate
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KELLY-MOORE PAINTS
SINGLE TENANT
NET LEASED
INVESTMENT
2910 ALUM ROCK, SAN JOSE, CA
Prepared For:
Prepared By:
INVESTMENT SALES| LEASING | ASSET MANAGEMENT
CONTENTS
This Offering Memorandum Presented By:
CHRIS SANTANA BILL JOHNSON XAVIER SANTANA
President Investments Partner CEO, Broker
925.203.1106 209.546.6051 925.226.2455
1 Investment Summary chris.santana@ngcip.com bill.johnson@ngcip.com xavier@ngcip.com
2 Area Overview ® 2019 Northgate Commercial Real Estate. We obtained the information in this offering
memorandum from sources we believe to be reliable. However, we have not verified its
accuracy and make guarantee, warranty or representation about it. It is submitted sub-
ject to the possibility of errors, omissions, change of price, rental or other conditions, prior
3 Market Views sale, lease or financing, or withdrawal without notice. We include projections, opinions,
assumptions or estimates for example only, and they may not represent current or future
performance of the property. You and your tax and legal advisors should conduct your own
investigation of the property and transaction.
5 Site Plan
6 Tenant Profile
7 Lease Abstract
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
INVESTMENT HIGHLIGHTS
OFFERING PRICE: $7,900,000
NOI: $493,310
• Kelly-Moore’s Offer — Ten year corporate master lease upon
close of escrow CAP RATE: 5.50%
• Residents — Strong population density with an estimated 508,157 GLA: ±16,000 SF
people within a 5-mile radius and an average household income of
$128,915 LEASE TERM: 10 years
• Access — Convenient access and high visibility from I-680. APN(s): 484-21-001
General Commercial
• Area Co-tenants — area co-tenants inlcude Citibank, Goodwill, James ZONING:
Lick High School, Starbucks, Boost Mobile, QuickStop, Alum Rock Neighborhood Commercial
Animal Hospital, San Jose Fire Department, Sherwin Williams + more
CURRENT OCCUPANCY: 100%
LOT SIZE: ±0.91 AC
TRAFFIC COUNTS: Alum Rock @ Site - ±36,000 ADT
MULTI-FACETED BRAND
• PaintCare — Kelly-Moore Paints is part of the California Paint
Stewardship Program that provides an environmentally friendly and
economically sustainable way to recycle architectural paint
• Technology — Kelly-Moore Paints offers technology like
MyColorVisualizer which allows clients to upload a picture of a room,
paint, and share it along with MyColorStudio to creat, save and share
unique color palettes
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
1
AREA OVERVIEW
SAN JOSE, CA
• The city of San Jose is located on the southern shore of the San Francisco bay and
the largest city in Northern California. San Jose is an economic, cultural, and political
center of Silicon Valley. It’s the county seat of Santa Clara County - the most affluent
county in California and in the US. It also been ranked as one the happiest place to
work in the United States. San Jose is home to more than 1 million residents and over
528,044 businesses.
• Approximately 10,500 businesses and nearly 528,044 employees contribute to the
service and economical growth of the San Jose community
• Median household incomes exceed $101,940 in 2018
• An estimated households 320,447 within the city limits and expected t exceed by 0.2%
in 2023
• Home to San Jose State University with more than 33,000 students with over 1,900
faculty
TOP EMPLOYERS:
ORGANIZATION PRODUCT/SERVICE EMPLOYEES
County of Santa Clara Government >17,800
Cisco Systems Computer Equipment >4,700
1-3-5 RADIAL MAP
City of San Jose Government >5,900
SILICON VALLEY
• Silicon Valley is known for innovation, technology, and social media. The valley which
encompasses the southern part of the San Francisco Bay Area originally got its name
from the high volume of innovators and manufacturers of in the region specializing in
silicon based MOS transistors and integrated circuit chips. San Jose is Silicon Valley’s
largest city, California’s third largest city, and is the tenth largest in the United States.
Out of any metropolitan area, Silicon Valley has the highest concentration of high-tech
workers with 285.9 out every 1,000 private-sector workers and the highest average
high-tech salary in the United States at $144,800. As a result, the San Jose-Sunny
vale-Santa Clara, CA Metropolitan Statistical Area has the most millionaires and
billionaires in the United States per capita.
DEMOGRAPHICS SAN JOSE
2018 Estimated Population 508,157
2023 Projected Population 508,849
2018 Estimated Households 141,744
2023 Projected Households 148,987
2018 Household Income $128,915
2023 Projected Income $154,576
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
2
MARKET VIEW
FACING EAST
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
3
MARKET VIEW
FACING WEST
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
4
SITE PLAN
2910 ALUM ROCK - 16,000 SF
— ALUM ROCK (± 36,000 ADT) —
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
5
TENANT PROFILE
MISSION: To provide high quality, innovative products with exceptional service at a fair value.
KELLY-MOORE | History KELLY-MOORE | About KELLY-MOORE | Manufacturing
In 1946, William H. Kelly and William E. Moore rec- Kelly Moore has approximately 1,300 employees with Kelly-Moore has two strategically located, state-of-
ognized the unique needs of professional painting nearly 150 retail paint stores and 120 Independent the-art manufacturing facilities in key markets: San
contractors for top-quality paint products and knowl- Dealers. Carlos, California and Hurst, Texas (outside Dallas).
edgeable, efficient service at a fair price. This philos- Our reputation for quality products is unsurpassed in
ophy has allowed Kelly-Moore to grow from a single Employee Owned – You are working with an owner. In the industry. Kelly-Moore produces some of the most
manufacturing facility and store in San Carlos, Califor- 1998, Mr. and Mrs. William E. Moore established the technologically advanced paint products and sets the
nia, to one of the largest employee-owned paint com- Kelly-Moore Paint Company Employee Stock Owner- industry standard for new product development and
panies in the United States. Its reputation for quality ship Program (ESOP). Creating this program ensured quality control.
products is unsurpassed in the industry. The compa- the Moore Family tradition of providing only the highest
ny produces some of the most technologically ad- level of service will continue for years to come. Our manufacturing facility in San Carlos is also the
vanced paint products and sets the industry standard recipient of five widely recognized green business
for new product development and quality control, and Each employee-owner is committed to offering the awards from the State of California and San Mateo
retains the reputation of “The Painter’s Paint Store.” best paint products along with exceptional customer County for outstanding efforts to reduce pollution and
service everyday. solid waste and conserve water, energy and other nat-
ural resources.
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
6
LEASING ABSTRACT
KELLY-MOORE PAINTS
Lease Commencement: Close of Escrow
Lease Expiration: 10 years following commencement
Options: 6 Options - 5 years each
Rent Commencement: Close of Escrow
Rental Increases: 8% Every 5 years (base and option terms)
Deposit: None
Lease Type: Single Tenant Net Lease
Landlord Responsibilities: None
KELLY-MOORE PAINTS STORE | 2910 ALUM ROCK, SAN JOSE, CA
7INVESTMENT ADVISORS CHRIS SANTANA BILL JOHNSON President Investments Partner 925.203.1106 209.546.6051 chris.santana@ngcip.com bill.johnson@ngcip.com XAVIER SANTANA CEO 925.226.2455 xavier@ngcip.com ® 2019 Northgate Commercial Real Estate. We obtained the information above from sources we believe to be re- liable. However, we have not verified its accuracy and make guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omis- sions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. INVESTMENT SALES| LEASING | ASSET MANAGEMENT
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