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Todd LawCapital Growth Properties +1 858 729 [email protected]. No. 01309241
Joe BradySenior Associate+1 858 677 [email protected]. No. 01908072
Luke HollerAssociate+1 858 677 [email protected]. No. 01961057
Bill ShraderSenior Vice President+1 858 677 5324 [email protected]. No. 01033317
7527-7535, 7545-7549 Girard Avenue La Jolla, CA 92037
RETAIL PORTFOLIOGirard
Investment Highlights • PRIME GIRARD AVENUE
Iconic Harry’s Coffee Shop across the street from busy neighborhood shopping center
• STABLE/CREDIT INCOME STREAM The asset has the ideal combination of long term tenants and strong newcomers with a history of a consistent, stable income stream and growth potential
• DEMOGRAPHIC BASE With an established affluent community, the site caters heavily to local residents & visitors while benefiting from a solid daytime population
• CENTRAL LOCATION & DEMOGRAPHICS Site offers convenient access to Torrey Pines Rd, a key egress in and out of downtown La Jolla via Interstate 5
• REDEVELOPMENT POTENTIAL Under current zoning, Buyer has the opportunity to redevelop the south parcel into over 16,000 SF of residential and commercial uses
• FINANCING OPPORTUNITY The asset will be delivered unencumbered, allowing a buyer to customize a financing package in today’s low interest rate environment
• LIMITED SUPPLY Constrained market conditions and a propensity for local investors to hold long-term restricts supply in the Village of La Jolla create strong barriers to entry
• DIVERSIFIED INTERNATIONAL DRAW/TOURISM Great weather aside, La Jolla is recognized for its incredible location on hillside, sweeping ocean views and year round tourism. La Jolla has long been regarded as a premier shopping destination
Colliers International is pleased to present a rare opportunity to acquire prime Girard Avenue assets in the heart of La Jolla Village, one of the nation’s most affluent neighborhoods.
Colliers International and Capital Growth Properties, as exclusive agents for Seller, are pleased to present to qualified investors the opportunity to acquire prime Girard Avenue assets in the heart of the Village of La Jolla, one of the nation’s most affluent neighborhoods.
Located on the highly coveted Girard Avenue corridor, the portfolio consists of two multi-tenant mixed-use properties, home to the La Jolla landmark Harry’s Coffee Shop since 1960. This portfolio is an excellent investment for a buyer looking for quality real estate with long term growth potential in the Village of La Jolla.
This is a rare opportunity to acquire prized, irreplaceable coastal assets in a world-class community, located on one of Southern California’s most iconic streets.
The Village of La Jolla is home to a variety of business like major restaurants, high-end boutiques, world famous hotels, investment firms, law firms, accounting firms and real estate offices.
PORTFOLIOGirard Ave
COLLIERS INTERNATIONAL | 54 | GIRARD RETAIL PORTFOLIO
PROPERTY SUMMARY OFFERING TERMS
The Offering
Parcel #1 Parcel #2 Parking Lot
Address 7527-7535 Girard La Jolla, CA 92037
7545 -7553 GirardLa Jolla, CA 92037
Herschel Ave. La Jolla, CA 92037
APN 350-621-05 350-621-03 350-621-11
Improvements 6,261 SF Commercial Building 7,649 SF Restaurant/Retail Building Parking Lot
Lot Size 9,749 SF 9,805 SF 6,670 SF
CommentsMixed-use property with two apartments and long term retail tenants
Multi-tenant building featuring Harry’s Coffee Shop & Everett Stunz
Option to buy separately$2,250,000
Total Parcel #1 Parcel #2
Price $9,495,000 $3,675,000 $6,000,000
Rentable Square Feet 13,910 SF 9,749 SF 9,805 SF
Net Operating Income Contact Broker Contact Broker Contact Broker
Percentage Leased 100% upon delivery
Transaction Timetable And Procedure
Contact listing broker to schedule a tour of the property.Forty-Eight hour notice is appreciated.
OffersThe Seller reserves the right to sell the property at anytime during the marketing period without prior notice. The property will be sold on an “as-is” basis.
COLLIERS INTERNATIONAL | 76 | GIRARD RETAIL PORTFOLIO
LA JOLLA COVE
PARCEL #1
PARCEL #2
PARCEL #2
PARCEL #1
PARCEL #1
COLLIERS INTERNATIONAL | 98 | GIRARD RETAIL PORTFOLIO
GIRARD AVE
GIRARD
AVE
TORREY PINES RD
NOT A PART NOT A PARTPOTENTIAL
NOT A PARTNOT A PART
POTENTIAL
COLLIERS INTERNATIONAL | 1110 | GIRARD RETAIL PORTFOLIO
TENANT ADDRESS ABOUT
Harry’s Coffee Shop 7545 Girard Ave
http://harryscoffeeshop.com/Inspired by the coffee shops and diners of his native Brooklyn, Harry Rudolph opened Harry’s Coffee Shop opened in 1960. Three of Harry’s children operate the restaurant today, the classic diner remains a La Jolla institution, the place locals go home to!
Everett Stunz 7547 Girard Ave
https://www.everettstunz.com Everett Stunz is San Diego’s Premier Linen & Bed store. The have operated in La Jolla, California on Girard Ave for 50 years. They are the original Adjustable bed store offering an exclusive line of Everett Stunz Adjustable & Flat beds that can be custom made to customers own specifications.
Major Tenants Sales Comps1020 PROSPECT
Sale Date: 04/7/2017Bldg SF: 3,517Sale Price: $4,650,000Price/SF: $1,322
Land Area: N/A - Retail CondoLand/SF: -
1144, 1158-70, 1172 PROSPECT*
Sale Date: 04/02/2018Bldg SF: 12,272Sale Price: $16,200,000Price/SF: $1,320
Land Area: 21,828Land/SF: $742*Portfolio sale of 3 properties
7916 GIRARD AVE
Sale Date: 09/2/2016Bldg SF: 2,075Sale Price: $2,200,000Price/SF: $1,060
Land Area: 3,484Land/SF: $631
7650 GIRARD AVE
Sale Date: 10/1/2015Bldg SF: 17,500Sale Price: $13,690,000Price/SF: $782
Land Area: 7,000Land/SF: $1,956
7420-7426 GIRARD AVE
Sale Date: 03/16/2018Bldg SF: 7,017Sale Price: $4,470,000Price/SF: $637
Land Area: 16,949Land/SF: $264
7824 GIRARD AVE*
Sale Date: 01/12/2016Bldg SF: 10,259Sale Price: $8,896,000Price/SF: $867
Land Area: 7,013Land/SF: $1,268*100% vacant at closing
COLLIERS INTERNATIONAL | 1312 | GIRARD RETAIL PORTFOLIO
La Jolla is an affluent neighborhood in San Diego, California. It is a hilly seaside community, occupying 7 miles of curving coastline along the Pacific Ocean within the northern city limits. La Jolla home prices are among the highest in Southern California. With a population of nearly 38,000, La Jolla is surrounded on three sides by ocean bluffs and beaches and is located 12 miles north of Downtown San Diego, and 40 miles south of Orange County, California. La Jolla is home to a variety of businesses in the areas of lodging, dining, shopping, software, finance, real estate, bio-engineering, medical practice and scientific research.
The University of California, San Diego (UCSD) is located in La Jolla, as are the Salk Institute, Scripps Institution of Oceanography, and the headquarters of National University.
La Jolla is home to Torrey Pines Golf Course, site each January or February of a PGA Tour event called the Farmers Insurance Open.
Downtown La Jolla is noted for jewelry stores, boutiques, upmarket restaurants and hotels. Prospect Street and Girard Avenue are also shopping and dining districts.
La Jolla.the Jewel Of San Diego
Median Age
44.8
Median Home Sale Price
$1,900,000Population
37,593
AverageHousehold Income
$161,412Daytime Population
75,880Annual Visitors
7,000,000
23
COLLIERS INTERNATIONAL | 1514 | GIRARD RETAIL PORTFOLIO
RESTAURANTS & CAFES
Herringbone
Burger Lounge
Whisknladle Bistro & Bar
Puesto Mexican Street Food
Brockton Villa Restaurant
Eddie V’s Prime Seafood
Starbucks
Juice Kaboose
Prepkitchen La Jolla
Harry’s Coffee Shop
The Cottage La Jolla
George’s at the Cove
Duke’s La Jolla
Cody’s La Jolla
The Spot
Brick & Bell Cafe
17 Vons
18 BevMo
19 Chipotle
20 Starbucks
21 Pannikin
22 CVS
23 Karl Strauss Brewing Company
SCHOOLS
La Jolla Elementary School
The Bishop’s School
Stella Maris Academy
FITNESS STUDIOS
24 Hour Fitness Club
SPARKCYCLE
La Jolla Woman’s Club
La Jolla Tennis Club
Orange Theory Fitness La Jolla
La Jolla Sports Club
Prana Yoga Center
Buddhi yoga
Pilates Plus La Jolla
BANKS
California Bank & Trust
Wells Fargo Bank
U.S. Bank Branch
Union Bank
Bank of America Financial Center
First Citizens Bank
7 Chase
REAL ESTATE
Capital Growth Properties, Inc.
Marengo Morton Architects
La Jolla San Diego Real Estate
First American Title Company
Pacific Sotheby’s International Realty
MUSEUMS & ART GALLERIES
Museum of Contemporary Art
Legends Gallery
Ian Ely Gallery - La Jolla
Africa and Beyond
Aldis Browne Fine Arts
Thumbprint Gallery
La Jolla Historical Society
Mangelsen - Images of Nature Gallery
Martin Lawrence Galleries
National Geographic | Fine Arts Galleries
Siamak Art Gallery
7
17
18
1920
2122
3
4
ENTERTAINMENT & HOTELS
The Conrad
The Lot
3 La Valencia
4 The Grand Colonial
LA JOLLA COVELa Jolla
LA JOLLANATIONAL PARK
SITE
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2017. All rights reserved.
Todd LawCapital Growth Properties, Inc. +1 858 729 [email protected]. No. 01309241
Joe BradySenior Associate+1 858 677 [email protected]. No. 01908072
Bill ShraderSenior Vice President+1 858 677 5324 [email protected]. No. 01033317
Luke HollerAssociate+1 858 677 [email protected]. No. 01961057
GIRARD RETAIL PORTFOLIOIconic La Jolla
