MLS® ID: WS19185537
9680 Haven Avenue
Rancho Cucamonga, California, 91730 $21,000,000
9680 Haven represents an excellent opportunity for an astute investor to acquire a stabilized Class A office building with credit tenants and long-term durable cash flow in a supply-constrained sub-market below replacement costs and yield an above market CAP rate of 6.63% in Year 1. Constructed in 2007, the three-story high image building is 100% leased to five tenants with a weighted average remaining lease term of approximately 6.4 year. The buyer can expect stable cash flow and low rollover costs and risks. The five tenants are recognized leaders in a diversified mix of industries including technology, financial service, education, legal service and sports. Anchor tenant Novatime Technology, a subsidiary of a venture owned by private equity firm Summit Partners ($19 billion assets under its management), is under a 10-year lease. Pacific Western Bank, a NASDAQ company with a market cap of $4,400 million, has maintained its presence in the building since 2007. University of Redlands has just extended its lease term at this mission-critical location after its initial opening in 2007. US Legal Support, a litigation support firm which has been at this location since 2014, is rapidly expanding its footprints nationwide. The NBA team Los Angeles Clippers (Valued at $2.2 billion) is the most recent addition to an impressive roster. In addition to stability, the built-in annual rent escalations offer the new owner an attractive inflation-hedge as well as income growth.