BROOKHURST STREET GARDEN GROVE, CA - CAPITAL MARKETS INVESTMENT PROPERTIES FERING MEMORANDUM
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1 4461 B RO OK HUR ST STR E E T
GARDE N GR OVE , C A
O F F E R I N G M E M O R A N D U M CA PI T A L M A RKE T S I NV E S T M E NT PROPE RT I E S
AFFILIATED BUSINESS DISCLOSURE benefit in determining whether you desire to including leases and other materials, in summary
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© 2017 CBRE, Inc. All rights reserved.
FOR MORE INFORMATION, PLEASE CONTACT:
TRAM CHURCH JAMES LEHIGH
Senior Associate Associate
Lic. 01478857 Lic. 01850077
+1 949 809 3663 +1 949 809 3662
T A B LE OF CONTENTS
tram.church@cbre.com james.lehigh@cbre.com
NATHAN HOLTHOUSER SHAUN MOOTHART
First Vice President Debt & Structured Finance 1 . INV ESTMENT SUM M A RY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Lic. 01838616 Lic. 01773201
+1 949 229 2273 +1 949 509 2111 2. INV ESTMENT O V E RV I E W & H I G H LI G H T S . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
nathan.holthouser@cbre.com shaun.moothart@cbre.com
3 . A ER IA L & PR O PERT Y PH OT OS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
RYAN SHARPE CBRE
4. PRO PERTY D ESC RI PT I ON.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 4
Associate 3501 Jamboree Road
Lic. 01940376 Suite 100 5. LO CATIO N O V ERV I E W .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 6
+1 949 809 3658 Newport Beach, CA 92660
ryan.sharpe@cbre.com 6. DEMO G RA PHIC S.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
REBECCA CANALEZ
Client Services Team Lead
Lic. 01384744
+1 949 809 3661
rebecca.canalez@cbre.com
ANA BENNETT
Client Services
+1 949 725 8026
ana.bennett@cbre.com
|3|
INVESTMENT SUMMARY
INVESTMENT SUMMARY
ADDRESS GLA SIZE
14461 Brookhurst Street 3,456 SF
Garden Grove, CA 92843
PRICE LOT SIZE
$3,100,000 0.37 Acres / 15,950 SF
PRICE/SF PRICE/SF LAND
$897 $194
|5|
INVESTMENT OVERVIEW & HIGHLIGHTS
INVESTMENT OVERVIEW
CBRE has been retained as the exclusive advisor
to offer for sale a rare Owner- User or Development
opportunity in Garden Grove, California. The
property is a 3,456 square foot building situated
on 15,950 square feet of land with14 parking
spaces. This property sits on the hard lit corner
of Brookhurst Street and Hazard Avenue. It is on
a main intersection of Garden Grove and is in the
heart of the Little Saigon Vietnamese community.
INVESTMENT HIGHLIGHTS
• Prime Location – Extremely Rare Hard
Corner Parcel on Brookhurst Street and
Hazard Avenue.
• Dense Retail Corridor – Surrounded by
many popular local retailers and National
Tenants like Stater Bros, McDonald’s,
Firestone Tires, Starbucks, Bank of
America, Target, CVS and others.
• Well Located / High Traffic – Just a mile
from 22 Freeway and over 60,000 Vehicles
Per Day.
• Dense Population – There are more than
300,000 people in 3-mile radius and
780,000 people in 5 mile radius. Average
household income exceeding $78,000
within 3-mile radius.
|7|
AERIAL & PROPERTY PHOTOS
AERIAL MAP
|9|
AERIAL MAP
| 10 |AERIAL MAP
| 11 || 12 |
| 13 |
PROPERTY DESCRIPTION
PROPERTY DESCRIPTION
LOCATION SITE LAND AREA
14461 Brookhurst Street, Garden Grove, CA This property sits on the hard lit corner of 15,950
Brookhurst Street and Hazard Avenue. It is
on a main intersection of Garden Grove and PARKING
is in the heart of the Little Saigon Vietnamese 14 spaces
community.
| 15 |LOCATION OVERVIEW
GARDEN GROVE, ORANGE COUNTY
The City of Garden Grove is located in central
Orange County approximately 25 miles
southeast of downtown Los Angeles. Garden
Grove’s has a population of approximately
177,000, where more than half are of either
Asian or Hispanic descent. It is the 5th largest
city in Orange County and the 27th largest
in the State of California. Despite the City's
large size, it is a relatively young community
with projections of continued growth over
the next few years. Incorporated in 1956, the
City spans an area of 17.8 square miles and
borders the city of Anaheim which welcomes
2 2 m i l l i o n v i s i t o r s , a n n u a l l y. T h e c i t y o f
Garden Grove supports a strong economy with
average household incomes of $80,869 and an
unemployment rate of only 4.1%. Furthermore,
the city is in the heart of a bustling section
of Orange County further offering opportunity
and chances for growth. Garden Grove hosts
an annual strawberry festival every year that
includes carnival games, roller coaster rides
and a parade. Garden Grove also boasts an
impressive crystal cathedral, aptly named
Christ Cathedral, which is currently undergoing
a $72M renovation.
| 17 |Garden Grove is a part of the greater Orange from all over the world. Ranked in Forbes
County region which is the third most populated magazine’s top 50 economically thriving metro
county in the state of California and the six areas, Orange County enjoys lower business
largest in the nation. Orange County is made costs, a highly qualified workforce, and one of
up of 34 cities and features 42 miles of pristine the lowest unemployment rates in the state.
coastline, two major harbors, vast wilderness Orange County’s is one of the most successful
parks, top-rated attractions, world-class and highly compensated counties in California
shopping, multiple professional sports teams with an average household income above both
and a wide range of other activities. Orange the State of California and the nation at almost
County is home to 3.2 million and draws $113,600 annually. Attraction and retention
more than 43 million visitors each year. Home are two of the key reasons for the County’s
to Disneyland, Knott’s Berry Farm, and the economic success. As home to some of the
largest convention center in the west, Anaheim world’s leading companies and 17 colleges and
Convention Center, the region attracts tourists universities, Orange County offers one of the
best educated work forces in the world, and an
GARDEN GROVE DEMOGRAPHICS
independent attitude.
2017 Estimated Population 780,130
2022 Projected Population 809,042 While Orange County’s business regions are
2010 Census Population 738,338 impressive, tourism is one of its largest and
2000 Census Population 738,157
Growth 2010-2017 0.76%
Growth 2017-2022 0.73%
2017 Estimated Median Age 34.90
2017 Estimated Households 209,134
2022 Projected Households 215,925
2010 Census Households 200,781
2000 Census Households 200,363
Growth 2010-2017 0.56%
Growth 2017-2022 0.64%
2017 Est. Average Household Income $63,117
| 18 |most famed industries in the county accounting
for 160,000 jobs. With Anaheim being the home
of the county’s top employer, Disneyland, it
also acts as the main tourist hub. Disneyland
is the second most visited amusement park in
the world just behind its sister park in Florida.
Orange County is also home to Califor nia
Adventure, Knotts Berry Farm, numerous
beach resorts, professional sports teams,
world renowned golf courses, and unique
shopping and dining experiences. With an
estimated 43 million visitors per year utilizing
hotels, restaurants, and other services, the area
brings in over $8.7 billion dollars annually just
in tourism.
TOP EMPLOYERS IN GARDEN GROVE
Number of
Employer Employees
1 Great Wolf Lodge 700
2 Air Industries Company 697
3 Garden Grove Hospital 516
4 American Apparel Knit & Dye 500
5 Hyatt Regency 424
Saint Gobain Performance
6 363
Plastics
7 Office Max 360
8 GKN Aerospace 331
9 Walmart 325
10 Kaiser Foundation Health Plan 300
| 19 |ORANGE COUNTY, CA OVERVIEW
• Orange County is the third most populous county in California of upscale shopping experiences in the region such as the South
and the sixth most populous in the United States. As of 2017, the Coast Plaza in Costa Mesa and Fashion Island in Newport Beach.
population is approximately 3.2 million residents and growing at a
rate of 4.5% every year. The median age is 37. • Orange County’s unique and profitable retail market continues to
draw in tenants. Orange County concluded 2017 with 15 new big
• The County is a hotbed of tourist activity due largely in part by box deals signed in the region. The most notable included a Hobby
theme park attractions such as Disneyland and Knott’s Berry Farm. Lobby in Cypress, Bob’s Discount Furniture in Orange, Chuze
With over 40 miles of coastline, Orange County is the premiere Fitness in Anaheim, and a RH Outlet in Irvine. Though the average
destination for thousands looking for sun and waves to ride. size of a large leases diminished, this activity further validated
that larger format retail is not dead and a greater need for mid-
• While tourism is one of the main economic drivers in the region, sized boxes apparent. Orange County delivered its only major
many Fortune 500 companies call Orange County home, including: development tracked by CBRE Research, The Village at Tustin
Ingram Micro, First American Corporation, Broadcom, Western Legacy. This 111,993-sq.-ft. retail neighborhood center contains
Digital, and Pacific Life. Orange County also boasts a thriving tech a Stater Brothers grocery store, CVS Pharmacy, Chipotle, and a
scene with software companies such as Blizzard Entertainment, Montessori daycare and additional shops and restaurants.
Gateway, Linksys, and Gateway cluster around the city of Irvine.
Orange County’s affluent residents has attracted a broad range For more information please visit https://www.ocgov.com/
| 20 |ARENAS / SPORTING FACILITIES:
• Angel Stadium
• Number of Events: Indeterminate.
The venue can host community,
charity, and concert going events,
but there doesn’t seem to be a tally
or average of how many take place
each year.
• Annual Visitors: 3,019,583 (2017)
Source: https://www.baseball-reference.
com/teams/ANA/attend.shtml
• The Honda Center
• Number of Events: Indeterminate.
Since it completed construction in
1993 the Honda Center has hosted
AIRPORT(S):
hundreds of hockey and basketball
DEMOGRAPHICS
games, wrestling matches, • John Wayne Airport
2017 Estimated Population 3,229,809
concerts, and is planned to be used • Annual Flights: 25,482
2022 Projected Population 3,375,451
for indoor volleyball during the 2028
Summer Olympics. • Annual Visitors: 4.5 million 2017 Est. Households 1,052,359
• Annual Visitors: 709,968 (2014)* • Any Upgrades?: Last major construction 2017 Avg. Household Income $113,678
to take place was in 2011 when a new
Source: http://www.hockeyattendance. Terminal C was added. *Source: CBRE Location Analytics & Mapping, 2018
com/arena/honda-center/ *Most current
attendance records available. ZILLOW HOUSING ZESTIMATES:
• Orange County Median List Price: $644,000
• Orange County Median Sales Price: $600,000
*Data came via RealtyTrac
| 21 |LOCAL & REGIONAL MAPS
14461 BROOKHURST STREET, GARDEN GROVE, CA
14461 BROOKHURST STREET, GARDEN GROVE, CA| 23 |
DEMOGRAPHICS
GARDEN GROVE DEMOGRAPHICS
Population 1 Mile 3 Miles 5 Miles Housing Units 1 Mile 3 Miles 5 Miles
2017 Population - Current Year Estimate 37,075 303,275 780,130 2017 Housing Units 9,839 84,482 217,304
2022 Population - Five Year Projection 38,619 314,472 809,042 2017 Vacant Housing Units 503 5.1% 3,148 3.7% 8,170 3.8%
2010 Population - Census 34,734 287,099 738,338 2017 Occupied Housing Units 9,336 94.9% 81,334 96.3% 209,134 96.2%
2000 Population - Census 34,574 283,532 738,157 2017 Owner Occupied Housing Units 5,238 53.2% 42,358 50.1% 111,372 51.3%
2010-2017 Annual Population Growth Rate 0.90% 0.76% 0.76% 2017 Renter Occupied Housing Units 4,098 41.7% 38,976 46.1% 97,762 45.0%
2017-2022 Annual Population Growth Rate 0.82% 0.73% 0.73% Education
Households 2017 Population 25 and Over 26,095 203,530 510,253
2017 Households - Current Year Estimate 9,336 81,334 209,134 HS and Associates Degrees 5,926 22.7% 44,849 22.0% 105,157 20.6%
2022 Households - Five Year Projection 9,694 83,943 215,925 Bachelor's Degree or Higher 4,040 15.5% 30,360 14.9% 78,972 15.5%
2010 Households - Census 8,839 77,985 200,781 Place of Work
2000 Households - Census 8,872 77,875 200,363 2017 Businesses 1,505 8,592 24,736
2010-2017 Annual Household Growth Rate 0.76% 0.58% 0.56% 2017 Employees 8,906 66,217 325,423
2017-2022 Annual Household Growth Rate 0.76% 0.63% 0.64%
2017 Average Household Size 3.92 3.69 3.67
Household Income
2017 Average Household Income $73,264 $78,973 $83,644
2022 Average Household Income $82,574 $89,719 $94,887
2017 Median Household Income $55,678 $59,654 $63,117
2022 Median Household Income $60,506 $66,730 $71,633
2017 Per Capita Income $18,768 $21,547 $22,963
2022 Per Capita Income $21,001 $24,294 $25,848
| 25 |FOR MORE INFORMATION, PLEASE CONTACT:
TRAM CHURCH NATHAN HOLTHOUSER JAMES LEHIGH RYAN SHARPE
Senior Associate First Vice President Associate Associate
Lic. 01478857 Lic. 01838616 Lic. 01850077 Lic. 01940376
+1 949 809 3663 +1 949 229 2273 +1 949 809 3662 +1 949 809 3658
tram.church@cbre.com nathan.holthouser@cbre.com james.lehigh@cbre.com ryan.sharpe@cbre.com
REBECCA CANALEZ ANA BENNETT SHAUN MOOTHART
Client Services Team Lead Client Services Debt & Structured Finance
Lic. 01384744 +1 949 725 8026 Lic. 01773201
+1 949 809 3661 ana.bennett@cbre.com +1 949 509 2111
rebecca.canalez@cbre.com shaun.moothart@cbre.com
3501 Jamboree Road, Suite 100
Newport Beach, CA 92660 CBRE, INC Broker Lic. 00409987
© 2017 CBRE, Inc. The information containing in this document has been obtained for sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy
and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property, The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors.
You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is
prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the Property of their respective owners.You can also read
