Property Details
Grass Valley is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe & Sacramento. Located below the snow line & above the fog for the perfect 4-season climate. Within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacto & UN Reno) & 2 intl. airports (Sacto & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video tech, digital media & other high-tech industries, balanced by national-caliber arts & entertainment sectors. With superb schools & multiple national awards relating to unbeatable quality of life, the region continues to attract residents & businesses from nearby Sacramento & the Bay Area. Brighton Greens sits at the intersection of the region's two major highways - Highway 20 heading east/west and Highway 49 heading north/south. There is not a more central, convenient or easily accessible location in the entire area. A five building +-48,000 SF business park situated on 4 contiguous parcels totaling +-4 acres. This incomparably located campus, built in phases from 1988 to 2001, has enjoyed full stabilized occupancy (+-90%) since its inception. It is now anchored by a recent 20,000 SF 10-year lease to the County of Nevada, who funded over $800,000 of their tenant improvement costs. The 14 other tenants include a veterinary hospital and nationally known financial and insurance companies. The offering includes two components: 1) the "real property" priced at $6.2m; and 2) "supplemental TI repayment income" from the anchor tenant with a present value equating to +-$400k, for a total price of $6.6m. The real property is priced at a +-7.7% current cap with a proforma cap above 8.5%. First time on market since the late '80s, this offering represents a rock-solid performing business park that would be a trophy in any portfolio.
- Property TypeOffice
- Year Built1990
- Total Building Size48,336RSF
- Total Acres4.06
- Building ClassA
- Property ID1980095