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Gap Data Center, Rocklin, CA

Gap Data Center

CA, United States

Price $7,700,000
Cap Rate
NOI
Lease Term Various
Lease Type
Rental Increases Rent increases of approximately 2.7%
Year Built 1998
Building Size 40,110 sq. ft.
Lot Size 6.3 Acres (274,428 sq. ft.)
Status Sold
Lead Broker Information Ryan Forsyth
Executive Director
415.228.9114
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

INVESTMENT-GRADE TENANT WITH LONG-STANDING TENANCY IN THE AREA
» Gap rated “BBB-” by Standard & Poor’s and has been in the Fortune 500 for 21 years
» Largest specialty retailer in the U.S. and the 3rd largest worldwide
» Tenant has been at this location since 1999 and has renewed options
» Gap’s data center is also located in Atherton Tech Park, demonstrating Gap’s long-term investment in the area

NNN LEASE WITH SCHEDULED RENT INCREASES
» Yearly rent increases of approximately 2.7%
» Ability to expand the building or future development

WELL-MAINTAINED BUILDING WITH RECENT UPGRADES
» New roof and solar energy panels reducing operating expenses
» Building was awarded the Energy Star label in 2010
» Nearly $1 million invested into capital upgrades over past 7 years, including ADA improvements, HVAC retrofit, and exterior and lobby upgrades

EXCELLENT LOCATION WITH ROBUST DEMOGRAPHICS
» Located in Atherton Tech Park, which includes an assortment of data and communication branches for national tenants such as Williams-Sonoma, Esurance, and Oracle
» Rocklin is located outside of the seismically active zones of the Bay Area and above the Central Valley floodplain
» Close to desirable housing markets, with average household income of $107,895 within a 3 mile radius

CLICK HERE TO REQUEST CONFIDENTIALITY AGREEMENT


Property Description

SOLD

The property is located directly off of Highway 65 in the Atherton Tech Park. The property is visible from Highway 65, which has a traffic count of 72,000 vehicles per day, and Sunset Blvd, which averages 18,575 vehicles per day. Atherton Tech Park is home to a number of data and communication branches for several national tenants, including Williams-Sonoma, Shari’s Berries, Esurance, and Oracle. The Gap data center is also located in Atherton Park, demonstrating Gap’s long-term commitment to the area. The Atherton Tech Park is experiencing strong growth, with expanding tenants such as The Rocklin Academy and William Jessup University. Rocklin is located outside of the seismically active zones of the San Francisco Bay Area and above the floodplain of the Central Valley, making it an attractive destination for IT support and data office backup. Additionally, the Atherton Tech Park is located near major freeways, attractive housing communities, and a number of large retail centers.

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