Issue link: https://digital.copcomm.com/i/10150
44 LIVEMAGS.NET MAY>>10 OPPORTUNITY OF A LIFTIME Seven years ago, Bacchus Development identified a market for small office buildings for sale rather than lease. Since then the company has established a niche market within the Irvine Spectrum that allows small or young growing businesses the opportunity to purchase premier buildings in a premier location. Buyers were able to purchase "warm shell" buildings and design and build their own custom, personal office environments. Five separate, distinct office parks were designed and built, with over 250 units totaling about 1.4 million square feet. Set in class "A" type campus environments, with upscale, high profile amenities like burnished block construction with 10 foot high windows, entrances lined with olive and palm trees, water features greeting the visitors, Bacchus has set the stage for business owners to thrive upon. Three of the five parks were entirely sold out before the real estate market along with the economy turned in 2007. Today, Bacchus Development is offering unheard of pricing on the remaining "warm shell" buildings in two of their brand new parks, the Bacchus Signature Series and Jeffrey Office Park, as well as offering sales of privately owned "turn-key" buildings at the Bacchus Office Park. In these uncertain economic times, business owners who can see past the storm are able to realize the chance of a lifetime. Current list prices are approximately 40-50% below what they were selling buildings for two years ago. Interest rates are still near historic lows and with loan programs that offer as little as 10% down payment ownership can be a cheaper alternative than renting over a ten to fifteen year period. Low prices, long-term Low interest rates coupled with tax benefits; there has never been a better opportunity to buy a building than what the conditions bring with them at present. Today, precisely due to the uncertain economy, many business owners see just that - the opportunity of a lifetime, as the company has recently seen a substantial increase in sales. Last year alone, Bacchus has sold seventeen (17) buildings, or about 122,000 Square Feet, primarily to business owners, while interest in their remaining inventory continues to grow. Greg Endsley, CCIM a co-founder and broker with Madison Street Partners who specializes in representing Orange County owner/users and investors of commercial real estate says: "The fundamental value consideration of; location, quality of construction and timeless/efficient building design have always been important to my client base, but never so more than in today's market. Being able to control these variables, at a minimum, is what makes the purchase of a BaccHus' property an attractive alternative to leasing and worthy of exploration – especially after what has been a significant and across the board reset of commercial real estate values". TURNKEY BUILDINGS IN THREE LOCATIONS Bacchus is offering office buildings at three locations and they include the Bacchus Office Park located at the corner of Irvine Center Drive and Bake Parkway where "turn-key" buildings with tenant improvements in place are ready for occupancy. They are also offering buildings for sale at this park with tenants in place ranging from 10,000 to 40,000 Square Feet for an investment opportunity. The second location is the Bacchus Signature Series located at the corner of Irvine Center Drive and Lake Forest Drive where the company is offering 8 new "warm shell" buildings ranging in size from 4,950 – 9,900 square feet. In the near future Lake Forest Drive will expand, and will extend all the way to Bake Parkway to Laguna Canyon Road, inevitably making Lake Forest Drive and Bake Parkway major thoroughfares connecting the 5 Freeway to the Laguna Canyon road. The third location is the Jeffrey Office Park, located along the 5 Freeway and Jeffrey Road. This being the last of the projects developed by the company has become the flagship of the Bacchus properties as it offers not only freeway visibility and easy access but also an unparalleled business environment for those who wish to work close to home. Nestled between the established side of Irvine and the newer neighborhoods of North Park and Woodbury, where The Irvine Company recently began construction of new homes to meet a growing demand, Bacchus offers "warm shell" buildings between the sizes of 4,960 and 9,900 Square Feet. EXPERTISE ASSISTANCE THROUGHOUT THE BUYING PROCESS While Bacchus Development has suffered a reset along with most developers during the last couple of years of the economic down turn, they managed to retain a core group of dedicated, knowledgeable people who continue to commit their expertise to the survival and success of the company. Their sales team is eager to assist any buyer or business owner in determining if purchasing is the best option at hand, and or to evaluate whether the property would be the right product type for them. Their years of exclusive dedication to the product type also make them an expert in assisting clients through the entire buying process, including the custom interior build-out of their office space. They have strong relationships with an array of lenders, architects, contractors, as well as the City of Irvine and thus can offer a unique advantage to any buyer who wishes to build their real estate portfolio. While they enjoy and pride themselves on working directly with their buyers and assisting them to realize their dream, they also offer full broker cooperation. Should you wish to become part of the Bacchus Family of owners, or simply think that this time in our lives is the chance of a lifetime to buying outstanding commercial real estate in the best of locations at the best price, please feel free to call Bacchus Development at 949.453.1000