Investment Highlights
NOVAtime BUILDING
9680 Haven Avenue, Rancho Cucamonga, CA 91730
Novatime Building represents an excellent opportunity to acquire a stabilized Class A office building with strong credit tenants and long-term durable cash flow in a supply-constrained sub-market at a price below replacement cost.
- 100% leased investment with a Weighted Average Remaining Lease Term of approximately 6.4 years, offering stable cash flow, and low rollover risks and costs.
- Almost $4 million worth of improvements in the past two years.
- Long-term established tenants with strong commitment to the location. Anchor Novatime Technology is under a 10-year lease commencing 2017. Pacific Western Bank and University of Redlands have both extended their leases since their initial terms commenced in 2007.
- With built-in annual rent escalation, the in-place income stream offers an attractive inflation hedge as well as income growth.
- Irreplaceable dominant corner of Haven and 4th Street provides high visibility, multiple points of ingress and egress, and easy access to many amenities.
- Class A construction features tinted glass façade, extensive window line, steel superstructure, and a two-level parking garage.
- Business Park setting offers expansive landscaped grounds, corporate identity, sweeping hill view, and on-site amenities, including a 136-room hotel, retail, and several quick-service restaurants.
- Energy-efficient features include a cool roof, LED lighting, and automated climate control.
- The acquisition price is below today’s replacement costs.
- Easy access to a vast transportation network via multiple freeways (I-10, 60, 15 and 210), air (Ontario International Airport), and rail (Metrolink and BNSF).