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11290 Point East Drive - Point East Plaza - Point East Plaza, Rancho Cordova, CA

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11290 Point East Drive - Point East Plaza - Point East Plaza

Rancho Cordova, CA 95742-6243 - Highway 50 Corridor Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:1987
Stories:2 Typical Floor:11,500 SF Building Size:23,000 SF
For Sale Price:$1,750,000 Price/SF:$76.09
Cap Rate:-
Parking:Free Surface spaces are available; Ratio of 4.19/1,000 SF

The building offers Small & Large suites for all types of office users. Will consider build to suit for min 2000 sq spaces. Building is well-maintained and secure.

~ 2 Story Office Building with 100+ parking Stalls
~ Comprehensive common area upgrades planned for completion Jan 2015
~ Walk to Light Rail Transit and assorted amenities
~ Suites available from 800 square feet to nearly 8,000 square feet
~ Adjacent to Hyatt House, Holiday Inn & Marriott Hotels
~ 5% Broker Commissions (please inquire for details)
Located at 11290 Point East Dr Rancho Cordova, CA. Right off of Hwy 50/Sunrise Blvd & Folsom Blvd

Sale Notes:
Point East Plaza is a premier office building well-located in Rancho Cordova, California. The 23,000-square foot, professional building is situated on a 1.54 acre lot and is the only office building located on Point East Drive, known for its major business meeting centers and hotels.

This prominent office building has been extensively remodeled during the last 12-months with new paint, new signage, completely redesigned landscaping, newly resealed parking lot, upgraded interior common areas, new fence, and newer roof. In addition, the building has a beautiful entrance lobby, two entrances (front and back), elevator access, fire sprinklers, a high-end modern energy control system, and is very well-parked with a parking ratio of 4.7 per 1,000 SF. The property is located on a large lot and has excellent curb appeal and visibility along Point East Drive.

Point East Plaza is currently 51.08 percent leased to a mix of professional tenants with an established history at the property. The tenants have deliberately been kept on short-term leases to allow for Buyer flexibility. The property can potentially be delivered with the entire first floor available for an owner-user. With attractive new financing, the cost for an owner-user to own and occupy the first floor would be only $0.69 per square foot per month, approximately half the cost to lease comparable space.

The offering provides a rare opportunity for an owner-user to acquire an extensively remodeled premier professional building in the largest employment sub-center in Sacramento, at an offering price reflecting a fraction of the replacement cost (estimated at $225 per square foot).

Marcus & Millichap Inc
Russ Moroz
(916) 724-1310

Christopher Drake
(916) 724-1344

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