Investment Overview

Newly constructed in 2022, Barton Place is an attractive 2-building commercial complex situated at the corner of Katella Boulevard and Enterprise Drive, in the city of Cypress, California. Barton Place is adjacent to Westmont of Cypress Assisted Living Community that was also constructed in 2022 and consists of 99 assisted living units along with 16 memory care units & 14 independent living units. Directly behind the subject property is Ovation at Flora Park, a newer 240 unit 55+ adult community by William Lyons Homes. And directly across the street is Cottonwood Church that has a large congregation and is situated on over 30 acres of church owned land. Barton Place commercial buildings each consist of +/-6,565 sq. ft. and was designed to accommodate multiple tenants. The parcel land size is +/-2.11 acres offering abundant on-site parking of 118 spaces (10:1 ratio). The subject property has attractive landscaping with a shared patio area between the buildings where tenant employees or patrons can relax and use the picnic tables. The property is located within the Cypress Business & Professional Center (PBP) zoning that allows for multiple retail, office or medical type tenants. There is reported daily car count of 41,000 on Katella Boulevard. The city of Cypress is situated in Orange County with a reported city population exceeding 49,000. Just down the street from the subject property is the Los Alamitos Race Course that opened back in 1951. Some of the original 435 acre ranch that was developed into Los Alamitos Race Track has been sold off and has been redeveloped into housing. The subject property is situated just 6 miles from Long Beach Airport and 18 miles from John Wayne Airport. A reported 183,903 residents reside within a 3-mile radius of the subject property and Average Household Income is reported at $140,668 within this same radius. Memorial Care Medical Group is a multi-specialty medical group comprised of over 1,700 physicians and healthcare professionals specializing in internal medicine, family medicine obstetrics gynecology and pediatrics, specialties like oncology, cardiology, pulmonology and gastroenterology , surgery and urgent care. Memorial Care operates twenty-four urgent care locations throughout Orange County and the Long Beach and Torrance area. They signed a 10-year triple net lease with 3.0% annual rent increases. Memorial Care then subleased +/-2,697 sq. ft. of their space to Cypress Rehabilitation and Sports Therapy which generates additional traffic to the property. The other free-standing commercial building is leased to Salon Row on a 15 year triple net lease with 3.0% annual rent increases. Founded in Southern California with Los Alamitos being their second location, Salon Row has been recognized as a new kind of salon suite empowering beauty professionals of all kinds with a private space to operate their own business. This Los Alamitos has been designed to accommodate 29 private suites ranging in size of 100 to 224 sq. ft. The subject property offers an unique opportunity for an investor to acquire an attractive retail property that enjoys 100% occupancy with 2 tenants on long term triple net leases along with desirable annual rent increases.