Acquisition Criteria

Our long-term goal is to conservatively grow our portfolio of well located Orange County commercial and industrial real estate by 10% a year. As a guide to follow, we shall consider acquisition candidates that include the following criteria:
• Build out:
We prefer buildings that can support additional built out vs. over–improved buildings. We are not interested in improvements that over-burden parking areas or are specialized to meet the needs of a specific tenant.
• Cash flow:
Pre-leased properties are not as important as the ability to meet competitive rents. Cap rate evaluations are not as pertinent as the overall quality of the property for attracting future tenants.
• Desirable amenities:
Built to code mezzanines that are not counted as part of the properties square footage, excess parking with minimum 4 stalls per 1,000 sq. ft. for offices and 2 stalls per 1,000 sq. ft. of shop or warehouse, fenced yards, major street frontage exposure, high clearance, ground level and dock-high truck loading, high power, and fire suppression sprinklers.
• Industrial buildings:
5,000 to 80,000 sq. ft. free-standing properties.
• Multi-tenant:
Industrial parks totaling 100,000 sq. ft. or less with drive around capability, minimum 2.3 to 1 parking and minimum warehouse clearances of 14 feet.
• Commercial - Office - R&D:
Properties that are already developed at their highest and best use are of less interest to us unless the property is being offered at fire sale prices.
• Rehabs:
We will re-develop run-down properties if the locations are highly desirable.
We have cash on hand and are willing to consider properties that are either vacant or leased investments. We encourage you to bring your acquisition candidates to us first. Please fax information on the available properties to949-851-8156 or e-mail them to www.joe_icm@pacbell.net. To qualify as the broker of record, you must include as much information as possible including asking price. We will let you know of our interest immediately.