DOWNTOWN MOUNTAIN VIEW, CA - VILLA STREET @ VIEW STREET - 0.38 ACRES | GROUND LEASE OPPOR TUNITY IN DOWNTOWN MOUNTAIN VIEW - LoopNet
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DOWNTOWN MOUNTAIN VIEW, CA
VILLA STREET @ VIEW STREET
OFFERING MEMORANDUM
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± 0 . 3 8 AC R E S | G R O U N D L E A S E O P P O R T U N I T Y I N D OW N T OW N M O U N TA I N V I E WAFFILIATED BUSINESS DISCLOSURE Cbre, inc. Operates within a global family of companies with many subsidiaries and related entities (each an “affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different affiliates, including cbre global investors, inc. Or trammell crow company, may have or represent clients who have competing interests in the same transaction. For example, affiliates or their clients may have or express an interest in the property described in this memorandum (the “property”), and may be the successful bidder for the property. Your receipt of this memorandum constitutes your acknowledgement of that possibility and your agreement that neither cbre, inc. Nor any affiliate has an obligation to disclose to you such affiliates’ interest or involvement in the sale or purchase of the property. In all instances, however, cbre, inc. And its affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. Cbre, inc. And its affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s). CONFIDENTIALITY AGREEMENT Your receipt of this memorandum constitutes your acknowledgement that (i) it is a confidential memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the property (“owner”) or cbre, inc., And (iv) you will not use any part of this memorandum in any manner detrimental to the owner or cbre, inc., (V) will not contact city of Mountain View without the owner’s prior permission. If after reviewing this memorandum, you have no further interest in purchasing the property, kindly return it to cbre, inc. DISCLAIMER This memorandum contains select information pertaining to the property and the owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the property. The information contained in this memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the property. All references to acreages, square footages, and other measurements are approximations. This memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and property’s suitability for your needs. Any reliance on the content of this memorandum is solely at your own risk. The owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, VILLA at VIEW ST and negotiations shall be non-binding and neither cbre, inc. Nor the owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the owner. © 2021 Cbre, inc. All rights reserved.
04
TABLE OF CONTENTS
VI
LLA
ST EXECUTIVE SUMMARY
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05
VI
PROPERTY OVERVIEW
08
MAPS
18
RESIDENTIAL
MARKET OVERVIEW
CONTACT INFORMATION:
GREG PONCETTA MARK RUSSELL JEFF AGUILAR
Senior Vice President Senior Vice President First Vice President
+1 408.453.7460 +1 408.453.7465 +1 408.453.7448
greg.poncetta@cbre.com mark.russell@cbre.com jeff.aguilar@cbre.com
Lic. 01218360 Lic. 01237945 Lic. 01885083CBRE is pleased to present a prime groundlease
opportunity located in the heart of Silicon
Valley. The Property is located at View Street
and Villa Street in Downtown Mountain View,
EXECUTIVE SUMMARY
California and consists of one parcel totaling
approximately ±0.38-acres.
10 MI
The property is favorably located within
Downtown Mountain View, offering convenient
access to abundant retail services within a
mile radius. In addition, the site provides direct
access to approximately +100 employers,
including Google, Microsoft, LinkedIn, and 5 MI
more tech companies within only 5-miles from
the subject site.
Mountain View Station is within walking
distance (±0.2-mile) and serves CalTrain that 1 MI
operates out of San Francisco and San Jose
1
almost hourly on a daily basis every weekday,
with more frequent service provided during
commute hours and for special events.
Also, California 85 and US-101 are located
approximately ±1.5 miles from the subject
site, offering convenient access to both the
top Peninsula and South Bay employers. San
Francisco International Airport is only ±30
minutes away from the site and offers non-
stop flights to more than 45 international cities
and 83 cities in the U.S.
4 | EXECUTIVE SUMMARYPROPERTY OVERVIEW
Address Villa @ View Street
City: Mountain View
APN: 158-22-028
Land Area: ±0.38 Acres
Existing Use: Parking Lot
Zoning: R3: Multiple Family
General Plan: Medium Density Residential
Topography: Flat
» Excellent Transit Oriented Opportunity
» General Plan: Medium-Density Residential Use Allows Up to
13 to 25 Residential Units Per Acre
» Located within Downtown Mountain View
» Walking Distance to the Mountain View Caltrain Station
» Heart of Silicon Valley Location with Immediate Access to
Top Tech Employers
» Supply Constrained Submarket with Strong Sales Velocity
When Homes are Delivered
» Strong Demographics with Extremely High Demand for
Residential Product
PROPERTY OVERVIEW | 5BAY AREA LOCATION MAP
VILLA @ VIEW STREET
±13.5 MILES TO DOWNTOWN SAN JOSE
±34.5 MILES TO SANTA CRUZ
±30 MILES TO SAN FRANCISCO
±43 MILES TO OAKLANDPROPERTY LOOKING NORTHEAST
SANTA CLARA
LEVI’S STADIUM CALIFORNIA’S
GREAT AMERICA
LOCATION MAPS
MOFFETT
FIELD AMAZON SUNNYVALE
CARNEGIE MELLON SUNNYVALE MOUNTAIN VIEW
UNIVERSITY SILICON VALLEY GOLF COURSE TECH PARK
85
85
ST
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ILL
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DOWNTOWN
MOUNTAIN VIEW
C
STATION
A
ST
VILLA @ VIEW STREET
RO
STPROPERTY LOOKING NORTHWEST
TESLA HQ
LOS ALTOS PALO ALTO
STANFORD
UNIVERSITY
SAN ANTONIO
CENTER
L
REA SAN ANTONIO
INO STATION
C AM
EL
S SHORELI
N E B LV D
MOUNTAIN VIEW
CITY HALL
DOWNTOWN
MOUNTAIN VIEW
CASTRO ST
DOWNTOWN
MOUNTAIN VIEW
STATION MOFFETT B
KAISER
LV D
PERMANENTE
USPS
VIEW ST
A ST
ENTRAL EXPY
VILL
VILLA @ VIEW STREET
LOCATION MAPS | 9PROPERTY LOOKING SOUTHEAST
CUPERTINO
APPLE
PARK
LOCATION MAPS
SUNNYVALE
EL
CA
237 SUNNYVALE MIN
STATION
O R
EA
L
237 85
85
VILLA ST
MOUNTAIN VIEW
FARMER’S MARKET
VIEW ST
DOWNTOWN
MOUNTAIN VIEW VILLA @ VIEW STREET
STATION
10 | LOCATION MAPSPROPERTY LOOKING SOUTHWEST
LOS ALTOS HILLS
FOOTHILL
COLLEGE
LOS ALTOS
MOUNTAIN VIEW
REAL
EL CAMINO CITY HALL
KAISER DOWNTOWN
TIKTOK INC.
PERMANENTE MOUNTAIN VIEW
CA
ST
RO
BU
ST
SH
V
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W
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A S
VILL DOWNTOWN
MOUNTAIN VIEW
STATION
VILLA @ VIEW STREET
LOCATION MAPS | 11PARCEL MAP
PARCEL MAP
12 | PARCEL MAPZONING MAP
VILLA @ VIEW STREET
MULTIPLE FAMILY
The number of multi-family dwellings allowed on a site in the R3 zoning district is determined by
the minimum lot area required for each dwelling as given in the following table, except that:
» An existing lot of record that is less than seven thousand (7,000) square feet is permitted a maximum of
one (1) dwelling unit, subject to the R1 development standards;
» An existing lot of record that is seven thousand (7,000) square feet or greater, but less than twelve thousand
(12,000) square feet, is permitted two (2) dwelling units in all cases, subject to the R2 development
standards; or
» An existing lot of record having a lot width of less than eighty (80) feet shall not be developed with more
than two (2) dwelling units, regardless of the depth of the lot, subject to the R2 development standards.
(For maximum densities in small-lot single-family development, see Sec. 36.16; for maximum
densities for townhouse developments, see Sec. 36.16.10; and for maximum densities for rowhouse
developments, see Sec. 36.16.20).
Source: Zoning Ordinance, City of Mountainview
ZONINE MAP | 13GENERAL MAP
VILLA @ VIEW STREET
ZONING MAPS
MEDIUM DENSITY RESIDENTIAL
Medium Density Residential allows for a mix of single- and multi-family housing with a
residential character appropriate to a range of densities and a broad mix of housing
types.
» Allowed Land Uses: Single-family detached and attached residential, duplex
residential, multi-family residential; parks and open space
» Density: 13–25 DU/acre, approximately 27–60 residents/acre
» Height Guideline: Up to 3 stories
Source: Mountain View 2030 General Plan
14 | ZONING MAPDOWNTOWN PRECISE PLAN AREA
The Property consists of approximately 0.38 acres of land situated at the southern side of Villa Street, and is bounded by View Street to the west.
The Property is currently developed with an approximately 16,503 square foot parking lot.
The site falls within the Medium Density Residential on the city of Mountain View’s General Plan. This district and designation allows up to 13 to
25 Residential Units Per Acre. The property is also located right outside of the City’s Downtown Precise Plan, which promotes a concentration of
activities, including civic functions and cultural events, as well as a vital residential and commercial district.
Topography for the subject site is flat, offering exceptional usability for new development.
VILLA @ VIEW STREET
AREA MAP | 1519
29
ACCESS
TO JOBS 14
1 25,000 Employees 15 6,600 Employees 29 3,500 Employees
2 24,626 Employees 16 5,500 Employees 30 3,490 Employees
17
5
3 18,806 Employees 17 5,485 Employees 31 3,300 Employees
4 16,919 Employees 18 5,400 Employees 32 3,300 Employees
5 14,674 Employees 19 5,346 Employees 33 3,280 Employees
18
8
6 14,185 Employees 20 5,130 Employees 34 3,109 Employees 37
4
2
22
7 12,500 Employees 21 4,625 Employees 35 3,000 Employees
2
28 24
8 10,034 Employees 22 4,610 Employees 36 2,950 Employees 38
9 27 21
9 10,000 Employees 23 4,175 Employees 37 2,800 Employees
30
10 8,832 Employees 24 3,900 Employees 38 2,789 Employees
40
11 8,500 Employees 25 3,877 Employees 39 2,750 Employees
VILLA @ VIEW STRE
12 8,400 Employees 26 3,574 Employees 40 2,718 Employees
13 7,350 Employees 27 3,500 Employees 41 2,718 Employees
14 6,781 Employees 28 3,500 Employees
16 | ACCESS TO JOBSEMPLOYMENT
Located in the middle of Silicon Valley, Mountain View has direct access to some of the most
cutting-edge companies in the world. Google, Apple, Cisco, Tesla, Intel, Nvidia, LinkedIn, Adobe,
Netflix, eBay, and Facebook are just a sampling of the global headquarter locations for these
companies.
TECH TALENT CENTERS
36 TOP U.S.
Top U.S. TECH
Tech TALENT CENTERS
Talent Centers TECH TALENT CENTERS
by percent growth, share of local jobs, and total number of tech jobs
Top U.S. Tech Talent Centers
by percent growth, share of local jobs, and total number of tech jobs
by percent growth, share of local jobs, and total number of tech jobs
Total Number of
Tech Jobs:
Total Number of
32 12% Tech Jobs:
12% San Francisco 350,000
Tech Talent Share of Local Jobs (2019)
Bay Area
10% San Francisco 350,000
Tech Talent Share of Local Jobs (2019)
Raleigh-Durham, NC Bay Area
10% Washington,
8% D.C. Seattle,
SILICON VALLEY
Raleigh-Durham,WANC 250,000
Washington,Austin,
TX Denver,
8% Boston,
D.C. Seattle,
CO Madison, WI
6% Kansas City, MOWA
Baltimore,Austin, 250,000
AVERAGE TECH SALARY
MA MD TX Atlanta, Denver,
Salt Lake City, UT
Minneapolis,
Boston, Dallas/ Portland, CO Madison, WI
6% MN Baltimore, Kansas City,GAMO
MA Ft. Worth, TX OR 150,000
York,MD Atlanta, Salt Lake City, UT
4%
4%
Minneapolis, NewDallas/
NY
MN Ft. Worth, TX
New York,
Indianapolis, IN GA Portland, Charlotte, NC
South
OR TN
Nashville, 150,000 ±130,000
Indianapolis, IN
NY Florida Charlotte, NC 50,000
2% South
Nashville, TN
Los Angelas, CA
2% Florida 25,000 50,000
Los Angelas, CA
0% 25,000
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
0%
0% 5%5-Year10%
Percent 15%
Growth in20%
Tech Talent
25%(2014-2019)
30% 35% 40% 45%
5-Year Percent Growth in Tech Talent (2014-2019)
Data Source:
Data Source: CBRE
CBRE 2020 2020
Scoring Scoring
Tech Talent Tech
| Analysis: CBRETalent | Analysis:
Research; Silicon CBRE
Valley Institute Research;
for Regional Studies Silicon Valley Institute for SILICON VALLEY MEDIAN HOUSEHOLD
Regional Studies
25 Data Source: CBRE 2020 Scoring Tech Talent | Analysis: CBRE Research; Silicon Valley Institute for Regional Studies
6
INCOME reached an all-time high in 2019
20 3 MEDIAN HOUSEHOLD INCOME at nearly $135,000 (up by 3.4% year-over-
HOUSEHOLD INCOME
Santa
Median Clara & SanIncome
Household Mateo Counties, San Francisco, California and year, after inflation-adjustment).
theSanta
United
Clara & SanStates
Mateo Counties, San Francisco, California, and the United States
12
35 Silicon Valley San Francisco California United States
11 31 $140,000
$134,615 MEDIAN HOUSEHOLD INCOME has
16 increased by 40% in San Francisco
34 $120,000
$100,000
$123,859
and 27% in Silicon Valley since 2011,
$80,000
$80,440
the beginning of the post-recession
ET $60,000 $65,712
economic recovery period
15 $40,000
% Change 2011 - 2019 (compared to 17% statewide, and
1 39 26 $20,000
Silicon Valley
San Francisco
+27%
+40% 14% in the U.S. overall).
California +17%
United States +14%
$0
'01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19
MEDIAN HOUSEHOLD INCOME in
32 2021 Silicon Valley Index
Note:
dividends,
Household
Note: Household income
income includes
Social Security oror
railroad
wage orincludes
net retirement
rental or
salary income; wage
income; Supplemental
royalty incomeSecurity
or salary
net self-employment
income;
from
income;income;
public assistance
estates
net self-employment
interest, dividends,
or welfare Social
and trusts; payments;Security
retirement, survivor,
income;
or net rental or royalty income from estates interest,
or disability
or railroad
and trusts;
pensions; and
retirement Silicon Valley is 1.7 times higher than
all other income; excluding stock options.
income; Supplemental Security income; public assistance or welfare payments; retirement, survivor, or
32 2021 Silicon Valley Index
Data Source: United States Census Bureau, American Community Survey | Analysis: Silicon Valley Institute for Regional Studies
disability pensions; and all other income; excluding stock options. in California overall, and twice the
33 Data Source: United States Census Bureau, American Community Survey
Institute for Regional Studies
| Analysis: Silicon Valley national figure.
ACCESS TO JOBS | 17
41TRANSPORTATION
VILLA @ VIEW STREET
TRANSPORTATION
The Property is conveniently located
within walking distance to the San
Bruno Station. San Bruno Station
is unique in that it services both
Caltrain and BART lines, making one
of the best intermodal stations as it
provides Peninsula, South Bay and
East Bay connectivity.AMENITIES - DOWNTOWN MOUNTAIN VIEW MAP
CASTRO ST 100 BLOCK CASTRO ST 300 BLOCK CASTRO ST SOUTH
Savvy Cellar Crepevine Food La Monique's Nail Salon Personal Care
Food
(W Evelyn Ave) New Mongolian BBQ Food Masa Sushi Food
Happy Lamb Hot Pot Food Paris Baguette Food Le Boulanger Food
Vazzo Azzurro Food Books Inc. Retail Site for Sore Eyes Services
Xanh Food Transform Fitness Fitness Vitality Bowl Food
Oren's Hummus Food East West Bookshop Retail 1 Oz Coffee Food
3 Kingdoms Hot Pot Food Krystal's Intuition Center Services UPS Store Services
Olympus Caffe & Bakery Food Le Plonc Food aXess Cleaners Services
Asian Box Food Poke Bar Food Mediterranean Grill Food
Blue Line Pizza Food Ava's Market Grocery Giovanna's Fine Jewelry Retail
Hong Kong Bistro Food HeyO! Eats Food Starbuck's Coffee Food
Ramen Izakaya Yu-gen Food Café Baklava Food Amici's Pizzeria Food
Fu Lam Mum Food Global Beads Retail Spangler's Mortuaries Services
Bushido Food Sakoon Food Fleur De Lis Retail
Doppio Zero Food Rumble Fish Food Exellent Nails Personal Care
Amarin Thai Food Personal Aruba Day Spa & Salon Personal Care
Tiya's Touch
Eagles Aerie Food Care Khuu Dermatology Services
Ephesus Food MV Tea Village & Gallery Food Khuu Dentistry Services
La Fontaine Food Maru Ichi Food Eureka! Food
Eureka! Food Shiseido Cosmetics/Vee
Retail
Agave Mexican Bistro Food Cosmetics VILLA ST NORTH
Sight Optomerty Services Healing Crystal Retail
CASTRO ST 200 BLOCK Dental Fabulous Services City Dolls Hair Salon Personal Care
Red Rock Coffee Food Dana Oriental Market Grocery Noodle King Food
Alexander's Patisserie Food Ankang Acupuncture Clinic Services Orbit & Rust Salon Personal Care
VILLA @ VIEW STREET Hong Kong Bakery
Pokeworks
Food
Food
Fenwick & West LLP
CVS Pharmacy
Services
Retail
Verde Tea Café Food
Pho To Chau Food
Maison Alyzze Food Imagine Hair Salon Personal Care
QBB - Quality Bourbons CASTRO ST 400 BLOCK Happy Feet Foot Spa Personal Care
Food
& Barbecue Cascal Food Top Over Base Nail Salon Personal Care
Pho Hoa + Jazen Tea Food Scratch Food Steins Beer Garden Food
St. Stephen's Green Food Peets Coffee Food Chez TJ Food
Monte Carlo Food Sweetgreen Food
Don Giovanni Food Bank of America Financial VILLA ST SOUTH
Mervyn's/Umai Sushi Food Mountain View Kelly's Healing Massage Personal Care
Services
Kappo Nami Nami Food Dental Care
Jane's Beer Store Retail
Molly Magees Food Yoga Belly Fitness
Salon Finesse Personal Care
Gelato Classico Casa Lupe Food
Food Fiesta Del Mar Too Food
Italian Ice Valley View Dental Care Services
Villa Tea Food
Biryaniz Food K Pot Grill Food
Perfect Salon Personal Care
Therapy Stores Retail Kirin Food
Sugar Spa Personal Care
Opal Food Mountain View Optomerty Services
Superhot Hot Pot Food
Art Freame Studio Retail
Bonchon Food CASTRO ST 500 BLOCK
W DANA ST NORTH
West Valley Music Retail Bean Scene Food
Fashion Code Beauty Salon Personal Care
Tea Era Food Bank of the West Financial
La Espuela Mexican Food Food
Queen House Food Kaiser Permanente Services
Julie Q's Hair & Nail Personal Care
Boutique4 Retail Wells Fargo Bank Financial
Yakko Sushi Food
Personal
Stock & Blondes
Care
Mantra India Food W DANA ST SOUTH
Icicles Food Personal Personal
Hair By Heinz Elegance Hair Salon
Levels Retail Care Care
Easy Foods Co Grocery Personal Shalala Food
La Beauty Skin Care Care GTS Automative Retail
Model Shoe Repair Retail Alberto's Food
Windows & Beyond Retail Kakaroto Japanese Food
Sushi Tomi Japanese Food Dana Street Roasting Co. Food
Yuan Ming Acupuncture E&W Natural Way Retail
Services
Clinic
Personal
Personal Face-N-Body
Luxuray Skincare Care
Care
La Fontaine Food
Buen Viaje Travel Services
Eureka! Food
Chiropractic Performance Services
Center
CHAMBERMV.ORG
DOWNTOWN MAP | 19RESIDENTIAL MARKET OVERVIEW
The Bay Area is one of the most under-supplied housing markets The Mountain View submarket also continues to be undersupplied
in the nation. From 2010 through 2021, the region has added over with housing options. Highlighting this aspect of the market is an
84,575 jobs; however, during this same time period only 224,300 amazing decrease of time a listing home is on the market which
housing units have been approved. This jobs/housing imbalance currently stands at 12 days and the average homes sell for about
is creating enormous upward pressure on the residential market 5% above list price.
throughout the Bay Area, turning it into one of the greatest places
MARKET OVERVIEW
to invest in the United States.
MOUNTAIN VIEW MOUNTAIN VIEW MOUNTAIN VIEW
MEDIAN HOME VALUE: MEDIAN HOME VALUE YOY: AVERAGE RENT:
$1,885,532 4% $2,719SILICON VALLEY JOBS TO HOUSING
JOBS FAR OUTPACE HOUSING SUPPLY
NEW REGIONAL HOUSING KEEP
ALLOCATION (RHNA) FOR SAN
FRANCISCO BAY AREA IS 441,176
Silicon Valley Jobs to Housing Gap: 2010 - 2021
4 00 ,0 0 0
NEW HOUSING UNITS BY 2030.
352,200
329,300
312,800
291,400
3 00 ,0 0 0
263,700
244,300
221,900 224,700
SILICON VALLEY JOBS
2 00 ,0 0 0 179,200 TO HOUSING RATIO:
142,800
2.9
96,300
1 00 ,0 0 0 75,613 81,730 84,575
64,400 59,522 68,431
41,814 49,536
34,489
14,700 23,257
4,434 8,219
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Jo b Gro wt h Ho using Perm its MF Units Delivered
The San Francisco Bay Area housing market
continues to be under-supplied and still exhibits
healthy demand. Job growth in the region
is outpacing the amount of building permits
being pulled further widening the gap. Since
2010, within Santa Clara County, there has
been approximately 180,700 jobs added; yet,
only 71,033 new housing permits. This dramatic
imbalance is creating powerful upward pressure
on pricing and rents for all housing types.DOWNTOWN MOUNTAIN VIEW, CA VILLA STREET @ VIEW STREET ± 0 . 3 9 AC R E S GROUND LEASE OPPORTUNITY I N D O W N T O W N M O U N TA I N V I E W CONTACT INFORMATION: GREG PONCETTA MARK RUSSELL JEFF AGUILAR Senior Vice President Senior Vice President First Vice President +1 408.453.7460 +1 408.453.7465 +1 408.453.7448 greg.poncetta@cbre.com mark.russell@cbre.com jeff.aguilar@cbre.com Lic. 01218360 Lic. 01237945 Lic. 01885083
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