Lifetouch (Shutterfly)

NNN L E ASE D OFFIC E INVESTMENT W ITH ANNUAL INCR EASES

LOCATE D IN DE NSE LY P OPULATED SACRAMENTO SUBUR B

CITR US H EIGH TS,CA

 CO NTACT LI ST I NG TE A M

Secured fenced in parking area

for all company owned vehicles
with adjacent parking for
employees and customers
B R YA N W E B B
bwebb@cppcre.com
PH: 415.274.2717
CA DRE# 01826546

ADAM MEYER
ameyer@cppcre.com
PH: 628.400.6457
CA DRE# 01911011

D
18,995

AR
VPD
EV
UL
BO
E
IS
NR
SU

Copyright © 2022 CP Partners Commercial Real Estate, Inc.

California DRE LIC# 01499268

This information has been secured from sources we believe to be reliable but we
make no representations or warranties, expressed or implied, as to the accuracy
of the information. Buyer must verify the information and bears all risk for any
inaccuracies.
2
 OVE RVI E W V I EW MAP

Lifetouch (Shutterfly)
7916 A LTA S U N R I S E D R , C I T R U S H E I G H T S , C A 95610

$1,995,848 8.67%
PRICE CAP

NOI: $173,040
PRICE/SF: $146.67
HI GHLIG HT S
LEASE TYPE: NNN
ORIGINAL TERM: 5.1 Years
> Long historical occupancy (since 2004) with
multiple renewals demonstrating the tenant’s LEASE TERM REMAINING: 4.6 Years
commitment to this location
LEASABLE AREA: 13,608 SF
> Tenant is Shutterfly Lifetouch, LLC, dba
Prestige Photography by Lifetouch LAND AREA: 0.85 AC
> T
 here are 100+ schools within the subject PARKING: 52 Spaces (3.82:1,000 SF )
tenant’s territory which makes this site
attractive from a central positioning
YEAR BUILT: 1982
perspective TENANT SINCE: 2004
> P
 roperty benefits from 19k vehicles per day
along Sunrise Blvd and strong surrounding
FEE SIMPLE: Yes
demographics provide a long term, quality
work force
Lifetouch is the largest family and school
> Q
 uality interior build-out, fenced in yard for all
of tenant’s vehicles photography company in the country

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any 3
inaccuracies.
 I N VEST M E NT H I G H LI G HTS

Long Term Tenant with Annual Rent Bumps

I N V EST MENT H IGHLI GHTS

> NNN lease providing limited Landlord responsibilities and 3% annual rent
increases to hedge against inflation

> Building floor plan designed to accommodate single or multiple occupants, 22,380
providing fungible income opportunities and flexibility in the future
VPD

> Parent company Shutterfly, a publicly traded company at the time, was MADIS
O N AV
ENUE
purchased by Apollo Global Management in 2019 for $2.7 B

LO CAT ION H IG HLI GHTS

> Subject property is surrounded by retail and residential developments, located

just 15 miles from downtown Sacramento

> The Lifetouch Campus is strategically situated in the affluent Sacramento

suburbs in Northwest Sacramento, perfectly positioned between other
Shutterfly/Lifetouch locations giving plenty of territory for the Citrus Heights
location

> Located at the intersection of two major thoroughfares, Madison Ave and
Sunrise Blvd, access to public transportation and nearby freeways, I-80 and

D
AR
U.S. 50, is easily accessible

EV
UL
> Citrus Heights is located in the center of UC Davis’s multibillion-dollar

BO
Sacramento hospital expansion and their two proposed healthcare satellite

E
IS
facilities in Folsom and Rocklin, improving and increasing jobs, talent, and 18,995

NR
innovation in the area VPD

SU
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 4
 I N CO M E & E XPE NS E

PRICE $1,995,848
Capitalization Rate: 8.67%
Building Size (SF): 13,608
Lot Size (SF): 37,026

STABILIZED INCOME PER SQUARE FOOT

Scheduled Rent $12.72 $173,040 22,380
VPD
Reimburseables $2.41 $32,760

EFFECTIVE GROSS INCOME $205,800 MADI SON AVEN UE

SU
LESS PER SQUARE FOOT

NR
IS
E
Taxes NNN Tenant

BO
18,995

UL
Insurance NNN Tenant VPD

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Management NNN Tenant

D
Landscaping NNN Tenant
CAM NNN Tenant
Roof & Structure NNN **Landlord
Operating Expenses NNN $32,760.00

EQUALS NET OPERATING INCOME $173,040

**Landlord responsible for Roof and Structure, Tenant pays a reserve for the replacements and
repairs to the roof and all walls

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any 5
inaccuracies.
 RE NT R O L L

TENANT INFO LEASE TERMS RENT SUMMARY

CURRENT MONTHLY YEARLY MONTHLY YEARLY
TENANT NAME SQ. FT. TERM YEARS
RENT RENT RENT RENT/FT RENT/FT

Shutterfly Lifetouch, LLC 13,608 6/1/2020 7/31/2020 $7,000 $14,000 $0.51 $1.03

8/1/2020 5/31/2021 $14,000 $168,000 $1.03 $12.35

6/1/2021 5/31/2022 $173,040 $14,420 $173,040 $1.06 $12.72

6/1/2022 5/31/2023 ** $14,852 $178,224 $1.09 $13.10

6/1/2023 5/31/2024 $15,298 $183,576 $1.12 $13.49

6/1/2024 7/31/2025 $15,757 $189,084 $1.16 $13.90

Option 1 8/1/2025 7/31/2028 $16,230 $194,757 $1.19 $14.31

Option 2 8/1/2028 7/31/2031 $16,717 $200,599 $1.23 $14.74

TOTALS: 13,608 $173,040 $7,000 $173,040 $0.51 $1.03

** Tenant has a Termination Option at Month 36 of the Lease, advanced notification to be

provided to Landlord by Septmber 1, 2022

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any 6
inaccuracies.
 L EAS E A BST RACT

Expenses
Prem ises & T er m TAX ES
Tenant
TENANT Shutterfly Lifetouch, LLC
I N SURAN CE
LEASE TYPE NNN Tenant

LEASE TERM 4.6 Years Remaining UT I LI T I ES

Tenant
RENT COMMENCEMENT 10/04/04
R OOF AN D E X T ERIO R STRUCTURE
OPTIONS Two, 3-Year Options Landlord (Tenant pays for reserves)
CAM
Tenant
M AI N T E N AN CE
Tenant

Additional Lease Provisions

ASSI G N M E N T/ SUBLETTING
None without Landlord’s consent
R OFR
None
CAN CE LLAT I ON CLAUS E
Seller to provide credit to Buyer in the event Tenant elects to
I N TE R IO R P H OTO exercise cancellation clause; termination fee is equal to three (3)
months rent

The details contained within the Lease Abstract are provided as a courtesy to the recipient for purposes of evaluating the Property’s initial suitability. While every effort is made to accurately reflect the terms of the lease
document(s), many of the items represented herein have been paraphrased, may have changed since the time of publication, or are potentially in error. CP Partners and its employees explicitly disclaim any responsibility for
inaccuracies and it is the duty of the recipient to exercise an independent due diligence investigation in verifying all such information, including, but not limited to, the actual lease document(s).
7
 SITE PLAN

FENCE

WALL

13,608 ALL STAR PRINTING GATE

RENTABLE SF
FENCE
VANAN TRANSCRIPTION

INTERIM HEALTHCARE

WALL
ALTA SUNRISE DRIVE

37,026
LOT SIZE SF
FENCE

NOT A PART

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any 8
inaccuracies.
 F LO O R P LA N - FI R ST FLOOR

GLASS WALL
SYSTEM

LOBBY
CAMERA STUDIO ORDER
STORAGE EDIT ASSIST

CORRIDOR
ELEVATOR RECEPTION

STAIRS
ELEVATOR
EQUIP

CLOSET
CLOSET
MEN’S
RESTROOM STUDIO
DRINKING
WOMEN’S FOUNTAINS
RESTROOM

STUDIO SENIOR
OPEN OFFICE WAITING CORRIDOR
ROOM

STAIRS
ELECT
& PHONE
ROOM
CORRIDOR

FLYER STUDIO STUDIO

ROOM

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies.
9
 F LO O R P LA N - S ECOND FLOOR

TERRITORY CUSTOMER SERVICE TECH OFFICE

MANAGER YEARBOOK PHONE / SERVICE
CASEWORK WORK
STATIONS

STAIRS
COUNTER
ELEVATOR W/WALL
OPERATIONS MOUNTED
CABINET
MANAGER
BREAK
ABOVE

CORRIDOR
STORAGE ROOM
CABINET CORRIDOR

DRINKING
FOUNTAINS
CORRIDOR

COUNTER
W/SHELVING
ABOVE
SALES
MANAGER
MEN’S
CONFERENCE RESTROOM

CORRIDOR
ROOM
SAFE WOMEN’S
BY
OWNER
RESTROOM
OPEN OFFICE
AREA
COUNTER W/WALL
CORRIDOR COPIER MOUNTED
CABINET ABOVE

STORAGE STORAGE
CLOSET & ROOF
ACCESS

PRODUCTION OPEN OFFICE

STAIRS

AREA TENANT TO REMAIN

PHOTO
MANAGER

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies.
10
 T E NA N T OV E RV I E W TEN AN T WEBSI TE

The National Leader in

School Photography
AB OUT LI FE TOUCH
> Lifetouch Inc. is an American-based photography company headquartered
in Eden Prairie, Minnesota

> The company has been providing photography for families, schools, and
places of worship for over 80 years
INT E R IO R P H OTO > The company has over 22,000 employees and operates in all 50 states, and
Canada

22,000 E M P LOY E E S I N T H E
U.S. AND CANADA
SHUT T E R FLY ACQUI SI T I O N
> In 2018, Shutterfly purchased Lifetouch for $825 Million

> Shutterfly (NASDAQ: SFLY) is the leading online retailer and manufacturer of
high-quality personalized products and services

$500M+ REVENUE
( F Y, 2021) > By bringing the two companies together, they are able better serve all of
our customers via Shutterfly’s cloud-photo management service, product-
creation capabilities, mobile app, and broad product range

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies.
11
P R O P E RT Y PHOTOS

12
 I IM
MMMED
E DI IATE
ATE TRA
TRADDEE AARREEAA

GREEN BACK LANE

63,600
MADIS ON AVENU E VPD
23,382
SACRAMENTO
ELEMENTARY

VPD
SCHOOL

15.4 MILES

SCHOOL

18,108
VPD
SU NR IS E BO UL EVAR
D
ALTA SUNRI SE

SUNRISE BOULEVARD

19,130
VPD
MADIS ON AVENU E

22,380
VPD

SCHOOL

LIBRARY

GREEN BACK LANE

62,622
This information has been secured from sources we believe to be reliable but we make no VPD
representations or warranties, expressed or implied, as to the accuracy of the information. 13
 REG
R EGI IOONNAL
ALTRA
TRADDEE AARREEAA

ELEMENTARY
SCHOOL

CASINO ELEMENTARY

DOWNTOWN HIGH SCHOOL SPORTS

SCHOOL COMPLEX

SUNRISE BOULEVARD
SACRAMENTO 80
15.4 MILES 18,549 SCHOOL
MIDDLE
203,028 SCHOOL
VPD
VPD
ELEMENTARY
SCHOOL
GOLF
HIGH COURSE
SCHOOL
ELEMENTARY
SCHOOL
SCHOOL
SACRAMENTO
MCCLELLAN
ELEMENTARY
SCHOOL
AIRPORT CITY OF
CITRUS
HEIGHTS
HIGH HIGH
ELEMENTARY SCHOOL SCHOOL
SCHOOL
MIDDLE
SCHOOL
80
SCHOOL
MIDDLE
SCHOOL
MERCY
SAN JUAN
ELEMENTARY MEDICAL
SCHOOL CENTER
ELEMENTARY
SCHOOL
VA ELEMENTARY
HOSPITAL SCHOOL
ELEMENTARY
HIGH
SCHOOL SCHOOL

ELEMENTARY
SCHOOL ELEMENTARY
SCHOOL SCHOOL
MADISON AVENUE
MADISON AVENUE

SUNRISE BOULEVARD
AMERICAN
HIGH
SCHOOL GOLF
COURSE
22,380 ELEMENTARY

VPD
SCHOOL
RIVER ELEMENTARY ELEMENTARY

21,849 SCHOOL MIDDLE SCHOOL

COLLEGE SCHOOL

VPD 80
ACADEMY 19,130
HIGH
VPD
130,632 ELEMENTARY
SCHOOL

VPD
HIGH
SCHOOL SCHOOL
ELEMENTARY
ELEMENTARY SCHOOL
SCHOOL
MIDDLE
SCHOOL

This information has been secured from sources we believe to be reliable but we make no rep-
resentations or warranties, expressed or implied, as to the accuracy of the information. Buyer 14
 T RA D E A R E A & D E M OG RA PHIC S

4.4 K 55
VISITATION HEATMAP

VISITS MINUTES
OVER PAST 12 MONTHS AVERAGE DWELL TIME

Ring Radius Population Data

3-MILE 5-MILES 10-MILES

SUBJECT 2019 132,412 308,460 908,027

PROPERTY

Ring Radius Income Data

10-MILE RADIUS
3-MILE 5-MILES 10-MILES
Average $93,733 $88,099 $95,716

Median $72,035 $68,960 $71,708

THE SHADING ON THE MAP ABOVE SHOWS THE HOME

LOCATION OF PEOPLE WHO VISITED THE SUBJECT
PROPERTY OVER THE PAST 12 MONTHS. ORANGE
SHADING REPRESENTS THE HIGHEST CONCENTRATION THERE ARE 15+ SCHOOLS WITHIN A 2.5
OF VISITS.
MILE RADIUS OF THE SUBJECT PROPERTY.
*Map and data on this page provided by Placer.ai. Placer.ai uses the location
data collected from mobile devices of consumers nationwide to model
visitation and demographic trends at any physical location.

V I S I T PLAC ER.AI 15
The information contained on this page has been secured from sources we believe to be reliable but we make no
representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the 15
information and bears all risk for any inaccuracies.
 LO CAT I O N OV E RV I E W
ROSEVILLE

Citrus Heights, FOLSOM

LAKE

CITRUS
California HEIGHTS
A SAC RA MENTO S U B U R B SACRAM E N TO, CA RANCHO
CORDOVA
>A
 quiet residential area in > The capital city of California, the SACRAMENTO
Sacramento County with a sixth largest city in the state, and (15.4 MILES)
population of 87,974 people the cultural and economic hub
of the Northern Central Valley
>H
 ome to a robust retail industry
– California’s most productive
with the Sunrise Mall offering a
agricultural region
wide variety of dining, retail, and
service establishments
> The economy is based around ELK GROVE
>S
 mall town atmosphere with easy agriculture, technology, health
access to downtown Sacramento services, hospitality, education, and
for daily commuters construction

> The site of many museums and

CE NTRA L LOCATI O N historic landmarks dating back to
>C
 lose proximity to downtown the California Gold Rush
Sacramento, Lake Tahoe, Napa
Valley, and San Francisco > Many colleges and universities are
nearby: California State University,
>L
 ocated between the region’s major Sacramento; University of California,
freeways: Interstate 5, Interstate 80, Davis; American River College;
U.S. Highway 50 and U.S. Highway Sierra College; and more
99
>T
 he Sacramento International DOWNTOWN SACRAMENTO
Airport is located approximately 20
miles away

2.6 M
SACRAMENTO MSA
POPULATION
This information has been secured from sources we believe to be reliable but we
(ESTIMATED) make no representations or warranties, expressed or implied, as to the accuracy of the
information. Buyer must verify the information and bears all risk for any inaccuracies. 16
 C O N TA C T L I S T I N G T E A M CPPCRE.COM

B R YA N W E B B ADAM MEYER
bwebb@cppcre.com ameyer@cppcre.com
PH: 415.274.2717 PH: 628.400.6457
CA DRE# 01826546 CA DRE# 01911011

Copyright © 2022 CP Partners Commercial Real Estate, Inc.

California DRE LIC# 01499268

This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies.