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Single Tenant Net Lease Petco | 8+ Years Firm Term Remaining | Pittsburgh, PA | 7.50% Cap
2017-06-15 17:35:22
cbre@rcm1.com
Investment Opportunity - North Avenue Two-Tenant Retail Building | Excellent Visibility | Milwaukee, WI
2017-06-15 15:36:41
jared.aubrey@cbre.com
Just Listed | Sublett Crossing - Grocery Shadowed Shopping Center | Arlington, TX | $5,295,000
2017-06-14 21:05:12
cbre@rcm1.com
CBRE Bid Date Reminder - 1.15 MSF | Long-Term NNN Lease - Principio Commerce Center I Along I-95 Corridor, Maryland
2017-06-14 15:01:35
cbre@rcm1.com
Call For Bids - for Westmorland Shopping Centre, Kendal
2017-06-14 14:10:23
nlpg@cbre.com
19-Year NNN Lease | New Construction | PetSuites | Attractive Rent Increases | Industry-Leading Operator | Corporate Guarantee | Upscale Atlanta MSA
2017-06-13 21:05:19
cbre@rcm1.com
Charlotte, NC | Monroe Business Park | Rare Infill Value-Add Opportunity
2017-06-13 18:32:10
cbre@rcm1.com
Heather Lake and The Courts at Yorkshire Downs | Offering Memorandum Now Available
2017-06-12 20:00:51
cbre@rcm1.com
For Sale | Melrose Place :: 421 Unit Investment Opportunity in Jackson, MS | $5,900,000 ($14,014/Unit)
2017-06-12 18:04:16
cbre@rcm1.com
CALL FOR OFFERS Tuesday, June 13, 2017 :: 5-Property | 892-Units Multifamily Portfolio in Dallas/Fort Worth, Texas
2017-06-08 16:19:23
cbre@rcm1.com
CALL FOR OFFERS | Trophy Milwaukee CBD Office-Retail-Parking Asset with Significant Upside
2017-06-08 15:50:36
cbre@rcm1.com
For Sale: 233,862 SF Kohl's & Dick's Sporting Goods Anchored Power Center
2017-06-05 13:15:26
cbre@rcm1.com
OM NOW AVAILABLE: EVIVA Midtown - 118 Units - Sacramento, California
2017-05-30 16:51:20
cbre@rcm1.com
REMINDER Offers Due Next Week: Savannah Court Apartments - 195 Units - Sacramento, California
2017-05-18 17:02:12
To: jose-1256@1000rebates.stream
From: cbre@rcm1.com (sender info)
Subject:

REMINDER Offers Due Next Week: Savannah Court Apartments - 195 Units - Sacramento, California


Received: 2017-05-18 17:02:12 (1 sec.) Created: 2017-05-18 17:02:11
 

REMINDER: OFFERS DUE MAY 25TH BY 3:00PM
SCHEDULE A PROPERTY TOUR TODAY! 


INVESTMENT OPPORTUNITY

The CBRE Sacramento Multifamily Team, as the exclusive advisor, is pleased to present the opportunity to purchase Savannah Court, a 195-unit Class B apartment community located in one of the strongest apartment markets in the nation. Savannah Court is located off of Norwood Ave in the Natomas submarket of Sacramento, with immediate access to Interstate 80, offering a very compelling and convenient housing alternative to the more expensive submarkets of Roseville and Downtown Sacramento. The property is situated adjacent a grocery anchored shopping center and less than 4 miles from the Natomas Marketplace, a regional power center that houses more than 35 stores, restaurants and specialty merchants. The property’s prime location offers tenants convenient access to virtually every national retailer, dozens of restaurants, and several grocery store options. With its convenient location within the Sacramento region, refreshed physical plant, further upside opportunities, and strong projected rent growth during the next few years, Savannah Court represents one of the most compelling offerings of this size available today in Northern California.
 

                     
INVESTMENT HIGHLIGHTS
SACRAMENTO LEADS THE NATION IN RENT GROWTH:
As a result of rebounding employment and a supply pipeline ranking last among all major markets, Sacramento is leading the nation in year-over-year rent growth as of February 2017. According to Axiometrics, Sacramento is ranked first nationally, experiencing 9% rent growth. More importantly, Sacramento is projected to be #1 among markets nationally for rent growth over the next two years.
EXCEPTIONALLY STRONG SUBMARKET FUNDAMENTALS:
The North Sacramento submarket has experienced double-digit year-over-year rent growth (12.8% per CBRE Econometric Advisors) and had an average vacancy of less than 4.0% in 2016. These strong fundamentals are expected to continue, as rent growth is expected to reach 7.0% in 2017.
ROBUST SACRAMENTO JOB GROWTH:
Sacramento employment recently surpassed its 2007 peak level, now exceeding 1 million total jobs for the first time:
• Employment: Over 26,000 jobs added in the last year in the greater Sacramento region, per the California Employment Development Department.
• Future job growth over the next ten years in the region is predicted to be 18.5%, per California EDD projections.
VALUE ADD OPPORTUNITY:
While the current owner has already invested considerable capital into exterior renovations, including roof work (on select buildings), major siding and balcony work, new exterior paint and renovations on more than half of the units, further value creation is available by putting a studio unit currently used as a maintenance shop back into operation, completing the interior renovation program and strategically enhancing the community amenities (such as converting the existing tennis court that gets little use).
PROXIMATE TO MAJOR EMPLOYMENT:
Savannah Court is located just minutes away from two of the region’s major employment centers: Downtown Sacramento and Roseville/Rocklin. Roseville/ Rocklin is home to various major regional employers such as Kaiser, Sutter Health, HP, Oracle, and more, while Downtown Sacramento consists of over 1 million square feet of office space. Savannah Court is also only minutes away from the McClellan Business Park, a former Air Force base converted into a flourishing business park. The park now encompasses more than 8 million square feet of all property types and is home to hundreds of private companies, as well as state, federal and local government agencies.
ATTRACTIVE AMENITIES AND UPDATED PROPERTY APPEARANCE:
The property’s unique southern-style architectural design, park-like setting, and strong interior and exterior amenity package set it apart from the majority of the rental stock in the area.
CONVENIENT AND CENTRALIZED LOCATION:
Savannah Court is conveniently located near a Viva Supermarket anchored shopping center and provides residents direct access to Interstate 80, light rail public transportation and city bus routes.
SIGNIFICANT UPSIDE IN CURRENT RENT ROLL:
A new owner stands to benefit not just from the submarket’s tremendous rent growth but also by passively capturing the almost 12% existing loss-to-lease in today’s rent roll, when comparing in-place rents and current RUBS charges to the latest rental rates and RUBS charges being achieved.
RECENT SIGNIFICANT CAPITAL IMPROVEMENTS:
The current owner has invested almost $1,000,000 into various interior and exterior improvements, relieving the next owner of this requirement. Property upgrades include extensive siding repairs and new paint, some roof replacements, and varying level of upgrades to unit interiors.
RECENTLY COMPLETED I-80 PROJECT:
Sacramento’s 5-year freeway construction project, the biggest in decades at approximately $136 million in cost, recently completed in December 2016. The newly renovated Interstate-80 offers residents at Savannah Court easy accesses to all of the region’s major destinations and adds to them desirability of the property’s location right off of the freeway.
 
Marc Ross
Lic. 01361805
+1 916 446 8785
marc.ross@cbre.com

CBRE, Inc.
500 Capitol Mall, Suite 2400
Sacramento, CA 95814
 

Visit CBRE Deal Flow to view all available listings.

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© 2016 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. 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.  

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.

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cbre@rcm1.com
OFFERS DUE 6/2: 270 Unit Value Add In High-Tech Hub (Lighthouse Pointe, Central Florida)
2017-05-16 16:03:11
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