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Bridgestone Building

2211 S Hacienda Blvd, Hacienda Heights, CA 91745

Listing Price: $7,200,000

Cap Rate
2.78%
Gross SF
36,045
Rentable SF
35,000
Price/Gross SF
$199.75
Lot Size
0.93 acres
Year Built
1973

Investment Overview

Marcus & Millichap is pleased to present the Bridgestone Building located at 2211 S Hacienda Blvd in Hacienda Heights. This is the first time on the market in over 20 years. The Bridgestone Building is a woodframe stucco building built in 1979 featuring Spanish Revival Architecture with high ceilings and plenty of light from the large windows throughout. The building is comprised of 36,045 gross square feet on two floors with approximately 20,000 square feet of subterranean parking providing for 57 covered parking spaces. It is estimated that the building contains approximately 35,000 square feet of Rentable Square footage. BUYER TO MAKE OWN INVESTIGATION RELATIVE TO SQUARE FOOTAGES. The building is situated on .98 Acres and provides a 3/1000 parking ratio with a combination of surface and covered parking. It is well located, minutes to the freeway, a walk score of 74, numerous retail establishments are very close by, including a Von’s and Rite-Aid along with a multitude of retail catering to the Chinese that dominate the area. This is a high visibility location with almost 40,000 cars passing by per day. Currently, the building is approximately 70% physically occupied with 30 short term tenants ranging in size from 250 sf to 2,000 sf. Unit 100 A-Q (5,000 SF) and 200 C-M (3,000 SF) are executive suite operations that are run by the current owner. These executive suites act as incubators catering to small start ups. The buyer for this asset could be a company looking to occupy either a portion or the entire building. Attractive low down SBA financing is available for the right user. The buyer for the Bridgestone Building could also be an investor. Current rents in the building are low averaging $1.30 per square foot. According to CoStar Research, within a 4 mile radius there are 39 buildings between 15,000 SF and 50,000 SF that are 94% occupied with an average asking rent $2.24 per foot. (see lease comp section) For the investor the Bridgestone Building has the potential to return a 6.30% CAP rate at a proforma lease rate of $1.95 per foot.

Investment Highlights

  • 2211 S Hacienda Blvd is a high visibility location with a car count close to 40,000 per day.
  • Priced at Just $199 Per Foot on the Gross Square Footage. Recent sales in the area averaging $252 per foot on Gross Rentable.
  • High Visibility Location with excellent freeway access with a walk score of 74, and over 37K traffic count.
  • First time on the market in 20 years.
  • Elevator served (2).
  • Garage and surface parking.
  • Spanish Revival building with excellent window lines.
  • Excellent Surrounding Demographics

Exclusively Listed By

Financing By

Listing Price: $7,200,000

Cap Rate
2.78%
Gross SF
36,045
Rentable SF
35,000
Price/Gross SF
$199.75
Lot Size
0.93 acres
Year Built
1973

Investment Highlights

  • 2211 S Hacienda Blvd is a high visibility location with a car count close to 40,000 per day.
  • Priced at Just $199 Per Foot on the Gross Square Footage. Recent sales in the area averaging $252 per foot on Gross Rentable.
  • High Visibility Location with excellent freeway access with a walk score of 74, and over 37K traffic count.
  • First time on the market in 20 years.
  • Elevator served (2).
  • Garage and surface parking.
  • Spanish Revival building with excellent window lines.
  • Excellent Surrounding Demographics

Investment Overview

Marcus & Millichap is pleased to present the Bridgestone Building located at 2211 S Hacienda Blvd in Hacienda Heights. This is the first time on the market in over 20 years. The Bridgestone Building is a woodframe stucco building built in 1979 featuring Spanish Revival Architecture with high ceilings and plenty of light from the large windows throughout. The building is comprised of 36,045 gross square feet on two floors with approximately 20,000 square feet of subterranean parking providing for 57 covered parking spaces. It is estimated that the building contains approximately 35,000 square feet of Rentable Square footage. BUYER TO MAKE OWN INVESTIGATION RELATIVE TO SQUARE FOOTAGES. The building is situated on .98 Acres and provides a 3/1000 parking ratio with a combination of surface and covered parking. It is well located, minutes to the freeway, a walk score of 74, numerous retail establishments are very close by, including a Von’s and Rite-Aid along with a multitude of retail catering to the Chinese that dominate the area. This is a high visibility location with almost 40,000 cars passing by per day. Currently, the building is approximately 70% physically occupied with 30 short term tenants ranging in size from 250 sf to 2,000 sf. Unit 100 A-Q (5,000 SF) and 200 C-M (3,000 SF) are executive suite operations that are run by the current owner. These executive suites act as incubators catering to small start ups. The buyer for this asset could be a company looking to occupy either a portion or the entire building. Attractive low down SBA financing is available for the right user. The buyer for the Bridgestone Building could also be an investor. Current rents in the building are low averaging $1.30 per square foot. According to CoStar Research, within a 4 mile radius there are 39 buildings between 15,000 SF and 50,000 SF that are 94% occupied with an average asking rent $2.24 per foot. (see lease comp section) For the investor the Bridgestone Building has the potential to return a 6.30% CAP rate at a proforma lease rate of $1.95 per foot.

Exclusively Listed By

Financing By

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