Best Buy | East Bay Bridge Center
3700 Mandela Pkwy,
Oakland, CA 94608
Trophy, High-Visibility Absolute NNN Opportunity
6.00%
CAP RATE
45,000
Building SF
$1,452,075
Current Rent
4.94
Land Acres
Absolute NNN
Lease Type
2002
Year Built
Previous
Next
6.00%
CAP RATE
45,000
Building SF
$1,452,075
Current Rent
4.94
Land Acres
Absolute NNN
Lease Type
2002
Year Built
INVESTMENT HIGHLIGHTS
Absolute NNN Lease; Major Retail and eCommerce Distribution Hub
Prominent Bay Area Power Center Location with Monument Signage off Interstate 580 - 225,000 VPD
Credit Rated Corporate Tenant (NYSTE: "BBY"); $8 Billion of Revenue Growth Past 2 Years, $51.8 billion of Revenue in FY22 Surpassing FY25 Financial Target
Surrounded by Prominent National Retailers Including Target, The Home Depot, Office Depot, Michael's, Nordstrom Rack, Ulta Beauty and Decathlon
LOAN QUOTES:
Loan Amount $15,000,000 Loan-to-Value 65.0% Term 5, 7 or 10 Years Interest Rate 6.25% +/- 0.25% Amortization 30 Year Amortization
Loan Amount $13,250,000 Loan-to-Value 57.0% Term 5 or 10 years Interest Rate 6.55% +/- 0.25% Amortization 3 Year I/O Followed by 30 Year Amortization
MARKET OVERVIEW
Emeryville is a city located between Berkeley and Oakland along the eastern shores of the San Francisco Bay. Emeryville’s central location, in close proximity to the Bay Bridge, downtown Oakland, and the University of California Berkeley, makes it an excellent destination for living, working, and shopping. The city is easily accessible via Interstates 80 and 580, Amtrak, and Bay Area Rapid Transit (BART) MacArthur Station. Emeryville is home to numerous corporate headquarters including Pixar Animation Studies, Peet’s Coffee & Tea, Clif Bar & Company, LeapFrog, Grocery Outlet, Amyris, and many others. The city is also home to one of two IKEA stores in the Bay Area and several large shopping centers including Bay Street, an up-scale center anchored by AMC, and East BayBridge which is anchored by Target and The Home Depot.
FOR MORE DETAILS CONTACT
Michael Cisternino
Managing Principal
(925) 388-0888
michael@essentialcre.com
CA 01708023, NV 1002492, ID PR59295
Nick Cole
Vice President of Investments
(925) 482-7044
nick@essentialcre.com
CA 01977282
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