gateway - the hoffman company€¦ · the hoffman company is not autho-rized to make any...

GATEWAY±20 Acres

Ontario Ranch, CA

T H E H O F F M A N C O M PA N Y

S O U T H E R N C A L I F O R N I A O F F I C E

18881 Von Karman Avenue, Suite 150

Irvine, California 92612

CA BRE #01473762

T 949.553.2020 | F 949.553.8449

www.hoffmanland.com

B R O K E R C O N TA C T

Tom Dallape

CA BRE #01100284

T 949.705.0928

[email protected]

Norm Scheel

CA BRE #00999403

T 949.705.0932

[email protected]

Graham Gilles

CA BRE #01252103

T 949.705.0914

[email protected]

EXCLUSIVE OFFERING MEMORANDUM

ONTARIO RANCH RD

ONTARIO RANCH RD

SCHAEFER AVE

ARCHIBALD AVE

3 ACTIVE PROJECTS

NEW HAVEN

2 ACTIVE PROJECTS

WEST HAVEN

EDISON AVE

SUBJECT SITE

DISCLAIMERThe information contained in this offering material (“Brochure”) is furnished solely for the purpose of a review by prospective purchaser of any portion of the subject property in the City of Ontario, County of San Bernardino, California (“Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of Scheel Dallape Inc. d/b/a The Hoffman Company Orga-nization (“The Hoffman Company”). The material is based in part upon information obtained by The Hoffman Company from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Seller, The Hoffman Company, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.

This Brochure was prepared by The Hoffman Company. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, there-fore, are subject to material change or variation.

In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.

This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by The Hoffman Company or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Seller and The Hoffman Company expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or to terminate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to Seller’s obligations there under have been satisfied or waived. The Hoffman Company is not autho-rized to make any representations or agreements on behalf of Seller.

This Brochure is the Property of The Hoffman Company and may be used only by parties approved by The Hoffman Company. The Property is privately offered and, by accepting this Brochure, the party in pos-session hereof agrees (i) to return it to The Hoffman Company immediately upon request of The Hoffman Company or Seller and (ii) that this Brochure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of The Hoffman Company and Seller.

Please be advised, Buyer acknowledges that The Hoffman Company Organization, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting The Hoffman Company to submit an offer on its behalf acknowledges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers.

POSSIBLE REPRESENTATION OF MORE THAN ONE BUYER OR SELLER - DISCLOSURE AND CONSENT (C.A.R. Form PRBS, 11/14)

A real estate broker (Broker), whether a corporation, partnership or sole proprietorship, may represent more than one buyer or seller. This multiple representation can occur through an individual licensed as a broker or salesperson or through different individual broker’s or salespersons (associate licensees) acting under the Broker’s license. The associate licensees may be working out of the same or different office locations.

Multiple Buyers: Broker (individually or through its associate licensees) may be working with many prospective buyers at the same time. These prospective buyers may have an interest in, and make offers on, the same properties. Some of these properties may be listed with Broker and some may not. Broker will not limit or restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property.

Multiple Sellers: Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Some properties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and some may not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed properties that may appeal to the same prospective buyers.

Dual Agency: If Seller is represented by Broker, Seller acknowledges that broker may represent prospective buyers of Seller’s property and consents to Broker acting as a dual agent for both seller and buyer in that transaction. If Buyer is represented by Broker, buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring and consents to Broker acting as a dual agent for both buyer and seller with regard to that property.

In the event of dual agency, seller and buyer agree that: (a) Broker, without the prior written consent of the Buyer, will not disclose to seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written consent of the seller, will not disclose to the buyer that seller is willing to sell property at a price less than the listing price; and (c) other than as set forth in (a) and (b) above, a dual agent is obligated to disclose known facts materially affecting the value or desirability of the property to both parties.

Offers not necessarily confidential: Buyer is advised that seller or listing agent may disclose the existence, terms, or conditions of buyer’s offer unless all parties and their agent have signed a written confidential-ity agreement. Whether any such information is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the real estate community, the listing agent’s marketing strategy and the instructions of the seller.

Buyer and seller understand that Broker may represent more than one buyer or more than one seller and even both buyer and seller on the same transaction and consents to such relationships.

The terms and conditions set forth above apply to this Brochure in its entirety.

Executive Summary

Property Overview

Area Overview

Market Overview

Definition of a Finished Lot

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4 - 7

8 - 21

22 - 25

26 - 35

36 - 37

TABLE OF CONTENTS

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1EXECUTIVE SUMMARY

GATEWAY | ONTARIO RANCH5

Transaction Narrative

The Hoffman Company is offering 20 divisible acres in the Gateway Specific Plan-Ontario Ranch.

• This project will become the “Gateway” to Ontario Ranch. All traffic entering Ontario Ranch via the I-15 interchange will pass directly by this site, giving a new home or apartment community the first opportunity for traffic and customers to enter and walk models or rent units.

• The subject 20 acres has a conceptual site plan of 382 units. The Buyer has the ability to increase the Lot/Unit count providing ultimate flexibility on the yield. The property can be developed and sold in any of the following combinations.

» 10 acres for sale product » 20 acres for sale product » 10 acres for rent product » 20 acres for rent product

• Project is located on the newly opened Ontario Ranch Road. Ontario Ranch Road has greatly improved the marketing window to Ontario Ranch with a fully landscaped median, roadside street trees and split rail fencing from Milliken/Hamner Avenue and direct access to the I-15 Freeway via the Cantu-Galleano interchange.

• For rent builders can offer apartments that have great access to commuter buyers via the new interchange.• This site allows a builder to develop a project similar in product type to Lyon’s Eastvale Nexus site and Brookfield’s New Haven Holiday

project. These are the two best-selling projects in the submarket with average life of project sales rates at 2+ homes per week. • This site allows for a builder to offer FHA and conventionally financed homes, the most under supplied product type in the region since

the new loan limits came into effect in 2014.• There is a concentration of 12 new home communities open for sales in Ontario Ranch, making it ground zero for allocation of marketing

resources from major public and private builders in the Inland Empire.• Both the main North-South 60 Freeway access (Archibald) and East-West I-15 Freeway access are opened and improved.• Ontario Ranch is home to new projects by Lennar, TriPointe, Brookfield, CalAtlantic, Woodside, and KB.

1 EXECUTIVE SUMMARY

The

Hoffman

Company

EXCLUSIVE OFFERING MEMORANDUM 6

Offering Guidelines

Seller

&

Proposed Deal Structure

All Cash

Asking Price

Submit on a Finished Unit basis, Seller’s definition of a Finished Lot is included in this

marketing package. Seller will entertain offers on all 20 acres or broken into 10 acre

portions.

Cost to Complete

Buyer should be aware the Cost to Complete assumptions are for informational purposes

and must be independently verified.

Due Diligence Period

The Due Diligence Period shall commence upon buyer’s acceptance of LOI and delivery of

all due diligence materials. The Due Diligence Period shall be 60 days.

Deposits

The Initial Deposit of two percent (2.0%) of the purchase price shall be made at the Opening

of Escrow and shall remain refundable during the Due Diligence Period. A Second Deposit

of three percent (3.0%) shall be placed into Escrow prior to expiration of the Due Diligence

Period. The sum of the Initial Deposit and Second Deposit shall equal a Total Deposit of

five percent (5.0%) of the Purchase Price. Upon Buyer’s approval of its Due Diligence, the

Total Deposit shall be released to the Seller and shall be non-refundable except for Seller

default.

Escrow

Escrow shall be held with Fidelity Escrow & Title Company.

Opening of Escrow

Upon delivery to Escrow of (i) the mutually executed Purchase & Sale Agreement and (ii)

the Initial Deposit equal to (2.0%) of the purchase price.

Close of Escrow

The Seller will consider the following closing conditions:

• Approval of Site Plan

• Date Specific Timeline

• Grading and offsite improvements complete

Preference shall be given to an all-cash closing in an “as-is” condition.

Brokerage Commission

The brokerage commission shall be paid by Seller pursuant to separate agreement.

Broker Contact

Tom Dallape

CA BRE #01100284

T 949.705.0928

tdallape@ hoffmanland.com

Norm Scheel

CA BRE #00999403

T 949.705.0932

nscheel@ hoffmanland.com

Graham Gilles

CA BRE #01252103

T 949.705.0914

[email protected]

Average Per unit SF

Infrastructure Costs (10% Contingency)

Fee’s

USABLE DIF Credit

CFD

TOTAL

20 du/ac

(assumes 200 units)

1,400 SF

$52,686/du

$31,775/du

-$8,771/du

-$11,833/du

$63,857/du

10 du/ac

(assumes (100 units)

2,000 SF

$105,372/du

$32,840/du

-$9,486/du

-$15,000

$113,726

1EXECUTIVE SUMMARY


2

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2PROPERTY OVERVIEW


Site Detail

Location

The Gateway project is located in Ontario Ranch (formerly known as New Model Colony)

area of Ontario. The site is located on the newly opened Ontario Ranch Road at the

intersection of Ontario Ranch Road and Milliken Avenue, one block west of the I-15

Cantu Galleano interchange.

Municipality

City of Ontario, San Bernardino County, Ontario Ranch

Assessor’s Parcel Number

0218-211-12

Approvals

Gateway is located in the Rich Haven Specific Plan. The Rich Haven Specific Plan

was originally approved on December 4, 2007 and updated with no amendments in

October 2008. An Amendment to the Specific Plan was recently approved by Planning

Commission on February 23, 2016 with final approval at City Council on March 15, 2016.

Land Planner

The Galloway Group

Engineer

Fusco Engineering

City of Ontario Planning Department

Scott Murphy

(909) 395-2419

[email protected]

Ontario Ranch Website

http://ontarioranch.com/

Ontario Ranch Master Planned Infrastructure

The seller is a member of NMC Builders, LLC, a sophisticated and well capitalized group

of builders and developers that was formed to finance and construct master planned

improvement to service Ontario Gateway and other Specific Plans within the Ontario

Ranch. Infrastructure construction is ongoing; with major infrastructure improvements

complete or near completion.

Comments

This site allows a builder to open a for sale project with the same product types as

Holiday by Brookfield and Nexus by William Lyon Homes. These two projects are the

best-selling in ontario ranchand Eastvale markets, providing FHA and Conforming

Loan qualified housing. This offering is well positioned for a home builder to open two

product lines that meet FHA and conforming loan limits, or a combination of for sale

and recent product.

The Project is located on the newly opened Ontario Ranch Road. Ontario Ranch Road

has greatly improved the marketing window to Ontario Ranch with a fully landscaped

median, roadside street trees and split rail fencing from Milliken/Hamner Avenue.

Ontario Ranch Road has direct access to the I-15 Freeway via the Cantu-Galleano

interchange as well as the 60 Freeway via Archibald Avenue.

There is a concentration of 12 new home communities open for sales in the Ontario

Ranch, making it ground zero for allocation of marketing resources from major public

and private builders in the Inland Empire. Ontario Ranch is home to new home projects

by Lennar, TriPointe, Brookfield, CalAtlantic, Woodside, and KB.

The freeway visibility and access for this site offers a great opportunity for an apartment

community. Given Lewis Companies Homecoming’s low vacancy rates in Eastvale and

Chino this site provides a similar location for Ontario.

The site is located east of the newly opened New Haven masterplan where Brookfield

Homes has 3 new communities for sale. All homebuyers exiting the I-15 Freeway to

Brookfield’s masterplan will pass directly by this site.

2 PROPERTY OVERVIEW

The

Hoffman

Company


Close Up Aerial with Site Plan Overlay

MILLIKEN AVE

HAMNER AVE

SUBJECT SITEONTARIO RANCH RD

CANTU- GALLEANO RANCH RD

15

60

LESS THAN1 MILE TO

CANTU-GALLEANO ON - OFF

RAMP

2PROPERTY OVERVIEW


Surrounding New Home Properties

CANTU- GALLEANO RANCH RD

SUBJECT SITE

CANTU- GALLEANO RANCH RDBELLEGRAVE AVE

MILLIK

EN AVE

HAMNER AVE

15

60

14

56

392

ONTARIO RANCH ROAD

78

10 11

12

Hadleigh @ Park Place - KB Home Opened 11/08/2014

Margate @ Park Place- KB Home Opened 11/08/2014

Camden @ Park Place- Ryland Homes Opened 11/08/2014

Kensington @ Park Place - Tri Pointe Homes Opened 11/08/2014

St. James @ Park Place- Tri Pointe Homes Opened 11/08/2014

Waterford @ Park Place- Woodside Homes Opened 11/08/2014

Amberly Lane @ West Haven - Lennar Homes Opened 02/14/2014

Carriage Homes @ West Haven - Lennar Homes Opened 02/14/2014

Canopy Creek @ Park Place - Woodside Homes Opened 05/11/2015

Holiday @ New Haven- Brookfield Homes Opening 09/19/2015

Waverly @ New Haven- Brookfield Homes Opening 09/19/2015

Summerset @ New Haven- Brookfield Homes Opening 09/19/2015

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Gateway is ground zero for Home building actively in the area with 12 Active Projects.

PARK PLACE

SEVEN ACTIVE PROJECTS

TWO ACTIVE PROJECTS

WEST HAVEN

NEW HAVEN

THREE ACTIVE PROJECTS

2 PROPERTY OVERVIEW

The

Hoffman

Company


Planned Projects

SUBJECT SITE

BELLEGRAVE AVE

LIMONITE AVE

ARCH

IBALD

AVE

CLEVELAND

AVE

HAM

NER

AVE

HAVEN

AVE

ONTARIO RANCH ROAD CANTU-GALLEANO RANCH RD

15

60

N

PLANNED USES:• RETAIL• INDUSTRIAL• HOTEL

• HOSPITAL• BUSINESS

PARK

GOODMAN COMMERCE CENTER

UNDERCONSTRUCTION

2PROPERTY OVERVIEW


Ontario Ranch Road

ONTARIO RANCH RD

MILLIK

EN AVE

HAVEN

AVE

RIVERSIDE DR

ARCH

IBALD

AVE

Archibald Completed and

Now Open!

Ontario Ranch Road & Archibald Intersection Completed

Ontario Ranch Road

Completed and Now Open!

15

BELLEGRAVE AVEONTARIO

RANCH WEST ONTARIO RANCH EAST

SUBJECT SITE

UNDERCONSTRUCTION



PARK


2 PROPERTY OVERVIEW

The

Hoffman

Company


Easy Freeway Access

S ARCH

IBALD

AVE

15

60M

ILLIKEN

AVE

HAVEN

AVE

BELLEGRAVE AVE

LESS THAN1 MILE TO

CANTU-GALLEANO ON - OFF

RAMP

2.27 MILES TO THE

ARCHIBALD ON-OFF RAMP

ONTARIO RANCH WEST

ONTARIO RANCH EAST

SUBJECT SITE

O

NTARIO RANCH RD



PARK


UNDERCONSTRUCTION

2PROPERTY OVERVIEW


Site Plan

SUBJECT SITEO N T A R I O R A N C H R O A D

N

2 PROPERTY OVERVIEW

The

Hoffman

Company


Land Use Exhibit

The

Hoffman

Company


EDISON AVE

MILLIKEN AVEHAMNER AVECOMMERCIAL

RESIDENTIAL SUBJECT SITE

MIXED USE COMMERCIAL

SENIOR APARTMENTSOFFICE/MEDICAL

CANTU-GALLEANO RANCH RD

ONTARIO RANCH ROAD

2PROPERTY OVERVIEW


Vicinity MapN

CANTU-GALLEANO RANCH RD

SUBJECT SITE

2 PROPERTY OVERVIEW

The

Hoffman

Company


Rich-Haven Specific Plan

The

Hoffman

Company


SUBJECT SITE

*Circulation pattern for local streets within Specific Plan Area to be established at Tentative Tract Map submittal.

*Residential development along the frontage of Haven Avenue within Planning Areas 5A, 5C and 6A and residentialdevelopment along the frontage of Ontario Ranch Road within Planning Areas 6A and 7 shall average a density of18 to 25 dwelling units per acre to support Bus Rapid Transit (BRT) along Haven Avenue.

2PROPERTY OVERVIEW


Nearby Retail

ARCH

IBAL

D A

VE

SUM

NER

AVE

HAM

NER

AVE

WIN

EVIL

LE A

VE

MIL

LIK

EN A

VE

LIMONITE AVE

EUCALYPTUS AVE

CANTU-GALLEANO RANCH RDEAST VALE GATEWAY

VERNOLA MARKETPLACE

BELLEGRAVE AVE ONTARIO

RANCH EAST

EASTVALE

ONTARIO

RANCH RD

SUBJECT SITEPLANNED USES:• RETAIL• INDUSTRIAL• HOTEL


PARK


UNDERCONSTRUCTION

2 PROPERTY OVERVIEW

The

Hoffman

Company


Gateway Designated Schools

The

Hoffman

Company


EDIS

ON A

VE

E RIVERSIDE DR

CLEVELAND AVE

MILLIKEN AVE

HAMNER AVE

HAVEN AVE

GRACE YOKLEY M.S.

2

CREEK VIEW E.S.

1

CANT

U- G

ALLE

ANO

RAN

CH R

D

15

60

S TURNER AVE

MILL CREEK AVE

COLONY H.S.

3

Cucamonga Elementary School (K-5)8677 Archibald AveRancho Cucamonga, CAT (909) 980-13182013 API Score: 774

Rancho Cucamonga Middle School (6-8)10022 Feron BlvdRancho Cucamonga, CAT (909) 980-09692013 API Score: 806

Colony High School (9-12)3850 E Riverside Drive Ontario, CA T (909) 930-29292013 API Score: 736

1 2 3

SUBJECT SITE

2PROPERTY OVERVIEW


Existing and Future Schools

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ARCH

IBAL

D A

VE

HAV

EN A

VE

CLEV

ELAN

D A

VE

MIL

LIK

EN A

VE

GRAND PARK

BELLEGRAVE AVE

H I G H S C H O O L

ELEMENTARYSCHOOL

ELEMENTARYSCHOOL

ELEMENTARYSCHOOL

MIDDLESCHOOL

ELEMENTARYSCHOOL

MIDDLESCHOOL

ELEMENTARYSCHOOL

15

60

Ranch View Elementary School (K-6)3300 Old Archibald Ranch Rd.Ontario, CA T 909.947.5545API Score: 828

Grace Yokley Middle School (7-8)2947 S Turner Ave.Ontario, CAT 909.947.6774API Score: 789

Colony High School (9-12)3850 E Riverside Dr.Ontario, CAT 909.930.2929API Score: 736

GreatSchoolsRating

6out of 10

GreatSchoolsRating

6out of 10

GreatSchoolsRating

5out of 10

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EXISTING SCHOOLS

FUTURESCHOOLS

GRACE YOKLEY M.S.

2

RANCH VIEW E.S.

1

COLONY H.S.

3

SCHOOL

ONTA

RIO

RANCH RD

ONTARIO RANCH WEST

ONTARIO RANCH EAST

SUBJECT SITE

ELEMENTARYSCHOOL

Nine new schools are planned for Ontario Ranch. Grand Park is adjacent to a future high school and elementary school. Construction is beginning on the first new school in December of 2015. Ontario Ranch is planned for six new elementary schools, two new middle schools and a new high school.

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Area Attractions Map: West Inland Empire

POINTS OF INTEREST

Ontario Mills

LA/Ontario International Airport

Victoria Gardens

The Cove /Jurupa Aquatic Center

Jurupa Hills Country Club

Paradise Knolls Golf Course

Galleria at Tyler

Mission Inn

Downtown Riverside

Riverside City College

University of California, Riverside

Prado Regional Park

La Sierra University

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8

10

12

2

4

56

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D OW N T OW N

91110

1312

Prado ViewRegional Park

Mt Rubidoux19

10

South to Temecula

North to Victor Valley

West to Orange/La Counties Ea

st t

o Coa

chel

la Va

lley

15

21571

60

91

3

1

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SUBJECT SITE

3 AREA OVERVIEW

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Ontario Info & Demographics

Income (2010)Median Household Income $2,452

ClimateAverage TemperatureJanuary high 68º, low 43ºJuly high 90º, low 62º

Average Rainfall16.82 inches

Population (2010)Total: 163,924

Rank in County: 4th

Rank in State: 29th

Median Age: 29.9

Average Household Size: 3.6

Average Family Size: 4.0

Major EmployersAccording to the City’s 2009 Comprehensive Annual Financial Report, the top employ-

ers in the city are:

1 LA/Ontario International Airport 7,6902 United Parcel Service (UPS) 3,5003 Pro’s Ranch Markets 1,5754 City of Ontario 1,0685 U.S. Merchants 1,0006 Mag Instrument 9007 Citizens Business Bank 7198 The Icee Company 7009 Marriott 62410 Toyota 530

Source: wikipedia.org

City InfoState: California

County: San Bernardino

Mayor: Paul S. Leon

Incorporated: December 10, 1891

Website: www.ci.ontario.ca.us

ONTARIO

Ontario City Library

East Ontario Metrolink Station

Ontario City Hall

3AREA OVERVIEW


Ontario Overview

LA/Ontario International Airport (ONT)This airport is a medium-hub, full-service airport with com-

mercial jet service to major U.S. cities and through service to

international destinations. ONT is located in the Inland Em-

pire, approximately 35 miles east of downtown Los Angeles.

The airport is the centerpiece of one of the fastest-growing

transportation regions in the United States. ONT’s service area

includes a population of six million people living in San Ber-

nardino and Riverside Counties and portions of north Orange

County and east Los Angeles County. In 2012, 4.3 million pas-

sengers used the airport and 454,880 tons of air freight were

shipped.

www.lawa.org/welcomeont.aspx

Ontario Mills MallOntario Mills is a large enclosed shopping mall, mar-

keted as an outlet mall. It is located in Ontario, Califor-

nia and it is one of the primary tourist attractions in

the Inland Empire. Ontario Mills is the first Mills land-

mark to have the racetrack layout and having a theme

in its neighborhoods. It is one of three Mills landmarks

in California that are now owned by Simon Property

Group since April 2007. One of the largest shopping

malls in North America, the mall opened to the public

on November 14, 1996. Ontario Mills was designed by

the architectural firm, F+A Architects.

www.simon.com/mall/ontario-mills

Citizens Bank ArenaThis multi-purpose arena, in Ontario hosts local

sporting events and concerts. Construction of-

ficially began on March 7, 2007 and the arena was

opened on October 18, 2008. It is suitable for indoor

events, including basketball, ice hockey, ice shows,

boxing, graduation ceremonies and concerts. The

arena’s basketball capacity is 10,832. It also seats

9,736 for hockey and its full capacity is 11,089. The

225,000-square-foot (20,900 m2) venue also has 36

luxury suites on two levels. It is the biggest and most

modern arena within the Inland Empire region of

California.

www.cbbankarena.com

Source: www.cityoftemecula.org

Founded as a Model Colony, based on innovation, planned development, community service and family values, the City of Ontario has become the eco-

nomic heart of the region. The City Council is committed to maintaining Ontario’s leadership role in the Inland Empire by continuing to invest in the growth

and evolution of the area’s economy while providing a balance of jobs, housing, and educational and recreational opportunities for our residents in a safe,

well-maintained community. Ontario’s New Model Colony is the portion of the former San Bernardino County Agricultural Preserve annexed by the City in

1999. The New Model Colony encompasses approximately 8,200 acres and is bounded by Riverside Drive to the north, Milliken Avenue and Hamner Avenue

to the east, the Riverside County line and Merrill Avenue to the south, and Euclid Avenue to the west. The New Model Colony Planning Division is responsible

for coordinating the implementation of the General Plan through creation of specific plans and review of entitlement plans.

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Ontario Ranch Active Projects

Data as of March 2016 | Source: Zonda’s Meyers Research, Ryness Reports & Hoffman Research

PROJECTS WITH ACTIVE LOTS

PROJECT NAME – BUILDER REMAINING LOTS SALES SALES RATE

Opened for Sales 11/8/2014

1. Hadleigh @ Park Place - KB Home 46 23 .32

2. Margate @ Park Place- KB Home 42 11 .15

3. Camden @ Park Place- Ryland Homes 31 15 .21

4. Kensington @ Park Place - Tri Pointe Homes 47 20 .28

5. St. James @ Park Place- Tri Pointe Homes 28 29 .40

6. Waterford @ Park Place- Woodside Homes 47 18 .25


7. Amberly Lane @ West Haven - Lennar Homes 41 34 .59

8. Carriage Homes @ West Haven - Lennar Homes 51 17 .29

Opened For Sales 05/11/2015

9. Canopy Creek @ Park Place - Woodside Homes 57 18 .40

PROJECTS WITH ACTIVE LOTS TOTAL # of Remaining Lots = 644

PROJECT NAME – BUILDER REMAINING LOTS SALES SALES RATE


10. Holiday - Brookfield (Attached) 38 60 2.3


11. Waverly - Brookfield (Courtyard Style Small Lot) 114 21 0.87

12. Summerset - Brookfield (5,000 SF) 102 10 0.41

EASTVALE

5

41

6

9

ONTARIO RANCH

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32

1012

11

15

60

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Actively Selling Projects | Ontario Ranch

Data as of March 2016 | Source: Meyers Research & Builder Website

B E L A M A R I A | O N T A R I O

M A R G AT E @ P A R K P L A C E | O N T A R I O

S T. J A M E S @ P A R K P L A C E | O N T A R I O

K E N S I N G T O N @ P A R K P L A C E | O N T A R I O

W AT E R F O R D @ P A R K P L A C E | O N T A R I O

H A D L E I G H @ P A R K P L A C E | O N T A R I O

1

2

3

4

5

6

OPENED AUG 2014

OPENED NOV 2014

OPENED NOV 2014

OPENED NOV 2014

OPENED NOV 2014

OPENED NOV 2014

Product Type: DetachedPrice Range: $476,990 - $529,990


Product Type: Detached Price Range: $452,900 - $478,900




Minimum Lot Size: 3,000 SFHouse Size: 2,105 - 2,438 SF






Total Tax Rate: 1.95%HOA: $158/Mo



Base Tax Rate: 1.95%HOA: $226/Mo



4MARKET OVERVIEW




C A M D E N @ P A R K P L A C E | O N T A R I O

A M B E R LY L A N E @ W E S T H A V E N | O N T A R I O

C A R R I A G E H O U S E @ W E S T H A V E N | O N T A R I O

S E D O N A @ P A R K S I D E | O N T A R I O

H O L I D AY @ N E W H A V E N | O N T A R I O

7

9

10

11

12

OPENED NOV 2014

OPENED FEB 2015

OPENED FEB 2015

OPENED MAR 2015

OPENED SEP 2015




Product Type: AttachedPrice Range: $348,900 - $378,900

Product Type: AttachedPrice Range: $253,150 - $355,900




Minimum Lot Size: n/aHouse Size: 1,462 - 1,749 SF

Minimum Lot Size: n/aHouse Size: 976 - 1,811 SF





Total Tax Rate: 1.95% HOA: $268

C A N O P Y C R E E K @ P A R K P L A C E | O N T A R I O 8 OPENED MAY 2015



Base Tax Rate: 1.95%HOA: $226/MoSub Association: $70/Mo

4 MARKET OVERVIEW

The

Hoffman

Company




W A V E R LY @ N E W H A V E N | O N T A R I O13 OPENED SEP 2015


Minimum Lot Size: Courtyard Style SLHouse Size: 2,158 - 2,513 SF

Total Tax Rate: 1.95%HOA: $150

S U M M E R S E T @ N E W H A V E N | O N T A R I O14 OPENED SEP 2015



Total Tax Rate: 1.95%HOA: $150

4MARKET OVERVIEW


Apartment Analysis | Location Map

Numbers on map correspond to data on pages 34 and 35.

3

5

6

78

10

60

BELLEGRAVE AVE

HAM

NER

AVE

EUCLID AVE

VAN BUREN BLVD

ARCH

IBAL

D AV

E2

SUBJECT SITE

BELLEGRAVE AVE

EASTVALE

ONTARIO RANCH

CHINO

RIVERSIDE

10

60

15

1 4

JURUPA VALLEY

4 MARKET OVERVIEW

The

Hoffman

Company


Apartment Analysis

Source: Reis Report Q1-2016

16250 Homecoming Drive, ChinoProperty Size: 359 UnitsCurrent Asking Rent/Unit: $1,898Current Vacancy Rate: 5.3%

Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF

StudioN/AN/AN/AN/A

1BR$1,689

1,103135

$1.53

2BR$1,973

1,199187

$1.65

3BR$2,222$1,585

30$1.40

Averages$1,961

1,296117

$1.53

Submarket: South Ontario/ChinoFloors: 2Year Built: 2014Class: A

HOMECOMING AT THE PRESERVE PH II

5464 W Homecoming Cir, EastvaleProperty Size: 445 UnitsCurrent Asking Rent/Unit: $1,816Current Vacancy Rate: 4.0%

5464 W Homecoming Cir., EastvaleProperty Size: 298 UnitsCurrent Asking Rent/Unit: $1,961Current Vacancy Rate: 1.7%

3364 Honeybrook Way, Ontario Property Size: 156 UnitsCurrent Asking Rent/Unit: $1,181Current Vacancy Rate: 0.0%

3390 Country Village Drive, RiversideProperty Size: 261 UnitsCurrent Asking Rent/Unit: $1,520Current Vacancy Rate: 1.5%

3303 S Archibald Avenue, OntarioProperty Size: 368 UnitsCurrent Asking Rent/Unit: $1,590Current Vacancy Rate: 2.4%






StudioN/AN/AN/AN/A

StudioN/AN/AN/AN/A

StudioN/AN/AN/AN/A

StudioN/AN/AN/AN/A

StudioN/AN/AN/AN/A

1BR$1,594

1,103168

$1.45

1BR$1,777

1,103115

$1.61

1BR$1,069

70472

$1.52

1BR$1,320

73297

$1.80

1BR$1,366

704144

$1.94

2BR$1,877

1,163223

$1.61

2BR$2,029

1,199153

$1.69

2BR$1,277

96184

$1.33

2BR$1,618

1,067136

$1.52

2BR$1,734

906224

$1.91

3BR$2,258

1,58554

$1.42

3BR$2,319

1,58530

$1.46

3BRN/AN/AN/AN/A

3BR$1,734

1,16828

$1.48

3BRN/AN/AN/AN/A

Averages$1,910

1,284148

$1.49

Averages$2,042

1,29699

$1.59

Averages$1,173

83378

$1.43

Averages$1,557

98987

$1.60

Averages$1,550

805184

$1.93

Submarket: Riverside/North MagnoliaFloors: 2Year Built: 2005Class: A

Submarket: University City/Moreno Valley

Floors: 2Year Built: 2003Class: A

Submarket: North OntarioFloors: 3Year Built: 1987Class: A

Submarket: University City/Moreno Valley

Floors: 3Year Built: 2008Class: A


HOMECOMING AT EASTVALE PH II HOMECOMING AT EASTVALE PH I

THE LANDING BROADSTONE VESADA

TERRACINA II

1 4

2 5

3 6

Numbers correspond to location map on page 33.

4MARKET OVERVIEW


Apartment Analysis

Source: Reis Report Q1-2016

2800 E Riverside Drive, OntarioProperty Size: 368 UnitsCurrent Asking Rent/Unit: $1,320Current Vacancy Rate: 2.2%

2550 E Riverside Drive, OntarioProperty Size: 312 UnitsCurrent Asking Rent/Unit: $1,285Current Vacancy Rate: 2.6%



StudioN/AN/AN/AN/A

StudioN/AN/AN/AN/A

1BR$1,247

69511

$1.79

1BR$1,193

75139

$1.59

2BR$1,385

919250

$1.51

2BR$1,370

1,02458

$1.34

3BRN/AN/AN/AN/A

3BR$1,810

1,2223

$1.48

Averages$1,316

807131

$1.65

Averages$1,458

99933

$1.47



TERRACINA APARTMENTS I

CARMEL AT THE COLONY

7

8

Numbers correspond to location map on page 33.

HOMECOMING AT EASTVALE THE LANDING

TERRACINA BROADSTONE VESADA

HOMECOMING AT THE PRESERVE CARMEL AT THE COLONY

4 MARKET OVERVIEW

The

Hoffman

Company


Ontario Ranch Active Projects

WINEVILLE AVE

BELLE

GRAVE

AVE

LIMONITE AVE

15

CANTU-GALLEANO

RAN

CH

RD

HOMECOMINGSUBJECT SITE

HOMECOMING AT EASTVALE5464 W Homecoming Circle Eastvale, CA 91752

PHASE I - 297 Units

• Current Vacancy Rate: 2.0%

PHASE II - 445 Units


1 BR

$1,742

1,103

283

$1.57

Current Asking Rent/Unit:Unit Size (SF):

Units:Price / SqFt:

2 BR

$2,135

1,309

376

$1.70

3 BR

$2,316

1,476

84

$1.56

4MARKET OVERVIEW


Eastvale Active / Future and Remaining Lots

HOMECOMINGHOMECOMING AT THE PRESERVE

16250 Homecoming Drive, Chino , CA 91708

PHASE I - 297 Units


1 BR

N/A

768

121

N/A

Temporarily Unavailable

Current Asking Rent/Unit:Unit Size (SF):

Units:Price / SqFt:

2 BR

$2,065

1,222

135

$1.68

3 BR

$2,300

1,536

187

$1.49

4 BR

$2,881

2,032

30

$1.41

15

60

BELL

EGRA

VE A

VE

LIMONITE AVE

MILLIKEN AVE

SUBJECT SITE

5

DEF

INIT

ION

OF

A FI

NIS

HED

LO

T &

LIST

OF

DUE

DIL

IGEN

CE M

ATER

IALS

5DEFINITION OF A FINISHED LOT


The definition of a “finished lot” shall mean, that all fees set forth in Seller’s budget shall be paid (but specifically not including any fees for building permits and

specifically not including any amounts paid or payable by reason of any community facilities districts (“CFD”), landscape maintenance districts (“LMD”), or other as-

sessment districts or Mello Roos districts and all other work and obligations, whether on the site of the Properly, or outside the boundaries of the Property, have been

constructed, installed or completed in order to obtain a building permit for the construction of a single family residence upon the payment of the ordinary building

permit fee.

Consistent with the foregoing, the definition of “finished lot” shall refer to a lot: (i) which is graded to a “blue top” condition in accordance with all rough grading

plans (but excluding precise grading) approved by all applicable governmental agencies, with a pad certified by a civil engineer with respect to line a grade and soils

engineer with respect to compaction, each of which shall be licensed and in good stranding in California, (ii) with all water, gas, sewer, electricity, telephone, and

cable television conduit installed and stubbed to the lot lines, (iii) with all storm drain, and curb, gutter and paving improvements (including driveway approaches

and aprons from the back of curb to the back of sidewalks) to the streets constructed and installed, (iv) with all monumentation and perimeter walls installed on the

project boundary as required by all applicable governmental agencies or by sellers plans and specifications, (v) with all sidewalks street lights, street signs, and water

meters and boxes installed, (vi) with all fees and exactions (including school fees but excluding the fee for the building permit and other construction related permits

and excluding amounts paid or payable by reason of any CFD, LMD, or other assessment districts or Mello Roos districts), and (vii) with the completion of any park

area, open space, other public amenities, and all other improvements as required by the conditions of approval to the tentative tract maps and the final maps or by

any applicable governmental agencies.

Specifically Excluding, however, without limitation, (a) front yard landscaping and side and rear yard fencing (unless rear yard fence is on the project boundary), (b)

building permits, (c) any application or plan check foes associated with house construction (such as, without limitation, architectural plan check, design review, mod-

el complexes, precise grading plans, fences and walls that are not on the perimeter of the project), (d) any of Buyer’s due diligence costs and/or expenses incurred in

connection with Buyer’s review of the Property, (e) any legal fees and costs incurred by Buyer in connection with the Property or the Project, (f ) any costs associated

with Buyer’s sales program including, without limitation, any disclosure documents, California Department of Real Estate filing fees, budget preparation and process-

ing costs, fees, costs and expenses incurred for incorporating or organizing any homeowner’s association and any other costs or expenses related thereto, covenants,

conditions and restrictions, and model merchandising, (g) engineering or staking associated with construction of homes, and (h) construction overhead costs (such

as, without limitation, stormwater pollution prevention plan monitoring and compliance measures, trailer rentals, portable toilets, temporary power and related

items.

Definition of a Finished Lot

ONTARIO RANCH RD

Land BrokersRealty Advisors

The

Hoffman

Company

S O U T H E R N C A L I F O R N I A O F F I C E

18881 Von Karman Avenue, Suite 150

Irvine, California 92612

T 949.553.2020 | F 949.553.8449

www.hof fmanland.comTHE HOFFMAN COMPANYC O A C H E L L A VA L L E Y O F F I C E

777 E Tahquitz Way, Suite 200

Palm Springs, California 92262

T 760.969.7357 | F 949.553.8449

N O R T H E R N C A L I F O R N I A O F F I C E

2121 North California Blvd., Suite 290

Walnut Creek, California 94596

T 925.478.8429 F 949.553.8449

N E VA D A O F F I C E

9205 W Russell Rd, Suite 240

Las Vegas, Nevada 89148

T 702.793.4370

gateway - the hoffman company€¦ · the hoffman company is not autho-rized to make any...

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