rancho cucamonga business park - the hoffman company · 7.93 acres rancho cucamonga, ca vd ve ve...

OFFERING MEMORANDUM7.93 ACRES Rancho Cucamonga, CA

FOOTHILL BLVD

HAVEN AVE

ASPEN AVE

TERRA VISTA TOWN CENTER

SUPERIOR COURT

RANCHO CUCAMONGABUSINESS PARK

CITY HALL

18881 Von Karman Avenue, Suite 150

Irvine, California 92612

T 949.553.2020 | F 949.553.8449

www.hoffmanland.com

CA BRE #01473762

Southern California Office Broker Contact

Norm Scheel,

CA BRE #00999403

T 949.705.0932

[email protected]

The

Hoffman

Company

Leading the LandBrokerage IndustryC A L I F O R N I A + N E V A D A

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 Rancho Cucamonga, 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 (“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, therefore, 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 authorized 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 possession 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 confidentiality 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.

Property Overview

Aerials, Maps & Photos

Area Overview

Market Overview

1

2

3

4

2-3

4-5

6-7

8-9

Table of Contents

4\ \

1Property Overview

RANCHO CUCAMONGA7.93 ACRES The

Hoffman

Company

OFFERING MEMORANDUM

Site Detail

The subject site fronts on Foothill Boulevard which is the primary east-

west corridor and adjacent to Haven Avenue the major north-south

corridor in the City of Rancho Cucamonga. The property is directly

north of the County Superior Court and Civic Center for the City of

Rancho Cucamonga. The 7.93 acres of undeveloped land is flanked by

two Class A- 77,000 square foot office building.

ENTITLEMENT STATUS

The site is currently unentitled.

GENERAL PLAN

Changed from Industrial to Mixed Use in 2016.

Mixed Use includes but not limited to; multifamily for sale for rent, live-work, commercial,

retail, restaurant, hotel, and medical office.

ZONING

Industrial

Zoning and General Plan must be consistent. Zoning would be changed during formal

application process, but must go before planning commission and city council. City does

not believe EIR will be required and could be completed with a negative declaration.

PROPERTY CONDITION

The site is generally unimproved; however a portion of the property has been used to

fulfill parking requirements for the adjacent office buildings.

PARKING REQUIREMENT

Per the recorded Second Amendment to Declaration of Covenants, Conditions and

Restrictions, the subject site is required to provide 217 unreserved parking stalls for

the Barton Plaza Building and 194 unreserved parking stalls for the Civic Center Office

Building, totaling 411 spaces.

DESIGN CONCEPT

City has reviewed a conceptual plan prepared by Architects Orange in February 2016

to develop the site with a combination of 276 residential units and 20,000 square feet

of retail. The concept plan was well received by the City Manager and Planning Director

but not pursued beyond that point. City would like to see pedestrian connectivity and

circulation between existing office buildings and government offices to the south. City

of Rancho Cucamonga, belives the site is ideal for three and four story product, live work

with residential over commercial.

PURCHASE PRICE

$7,000,000 all cash- total 60 days.

PURCHASE TERMS

All cash.

DEPOSITS

The Initial Deposit shall be equal five percent (5%) of the Purchase Price. Said Deposit

shall be paid at the Opening of Escrow and will remain refundable during the term of

the Feasibility Period. Prior to Buyer’s approval of Feasibility, a Second Deposit equal to

five percent (5%) shall be placed in escrow providing for a total deposit of ten percent

(10%) of the Purchase Price. Upon Buyer’s approval of its Feasibility, the Deposits will be

nonrefundable and applicable to the Purchase Price.

FEASIBILITY PERIOD

Buyer will have a Feasibility Period of no more than 45 days in which to investigate all

aspects of the Property. The Feasibility Period shall begin upon the mutual execution of

purchase agreement.

CLOSE OF ESCROW

The Close of Escrow shall occur on before 15 days following the expiration of the

Feasibility Period.

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OFFERING MEMORANDUM

2Aerials, Maps & Photos

RANCHO CUCAMONGA7.93 ACRES

Close Up Aerial

FOOTHILL BLVDH

AVEN

AVE

ASPE

N A

VE

BARTON PLAZACLASS A OFFICE

77,488 SQFT CITY CENTERCLASS A OFFICE

76,680 SQFT

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OFFERING MEMORANDUM



Net Usable Acres

FOOTHILL BLVDH

AVEN

AVE

ASPE

N A

VEPARCEL II7.93 Acres

PARCEL I4.9 Acres

PARCEL III4.6 Acres

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OFFERING MEMORANDUM



ARROW ROUTE

FOOTHILL BLVD

VINEYAR

D AVE

ARCH

IBALD

AVE

HAVEN

AVE

MILLIK

EN AVE

4TH ST

E AIRPORT DR

10

10

15 ETIWAN

DA AVE

DISTRIBUTIONCENTER

SPORTS PARK

CUCAMONGA-GUASTIREGIONAL PARK

ONTARIO

RANCHO CUCAMONGA

Vicinity Aerial

SUBJEC T SITE

SAN BERNARDINO COUNTY

COURT HOUSE

CITY OF RANCHO CUCAMONGA

CIVIC CENTER Empire Lakes

Specific Plan

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OFFERING MEMORANDUM



EXAMPLE

ARROW ROUTE

FOOTHILL BLVD

VINEYAR

D AVE

ARCH

IBALD

AVE

HAVEN

AVE

MILLIK

EN AVE

4TH ST

E AIRPORT DR

10

10

15 ETIWAN

DA AVEWEST VALLEYDETENTION

CENTER

SPORTS PARK

CUCAMONGA-GUASTIREGIONAL PARK

ONTARIO

RANCHO CUCAMONGA

SUBJEC T SITE

Transportation Map | Freeway Access

3.0 Miles

9 Minutes

TO I-10 VIAHAVEN AVENUE

2.4 Miles

6 Minutes

TO I-15 VIA FOOTHILL BLVD

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Assessor’s Parcel Map

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Property Photos

Street Front View on Foothil l Boulevard Easterly Street View on Foothil l Boulevard

Street View on Aspen Street Street View on Haven Avenue

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3Area Overview


Rancho Cucamonga Info & Demographics

CaliforniaState

County

Mayor

Incorporated

Website

Historical Annual Growth

Forecasted Annual Growth

1.0%

1.1%

California

San Bernardino

L. Dennis Michael

November 30,1977

www.cityofrc.us

R a n c h o C u c a m o n g a Population (2016) City Motto

Weather

Total Population

Source: wikipedia.org Source: wikipedia.org and weather.com

Source: Zonda

Source: Zonda; US Census; Nielsen; Meyers Research LLC Source: wikipedia.org

176,624

Total Population

No. of Households

Median Household Income

Homeownership Rate

Median Age

January Average

July Average

Precipitation

176,624

56,735

$77,981

64.1%

36.0

High 70º, Low 47º

High 83º, Low 63º

High Feb 3.5”, Low Jul 0.0”

Major EmployersAccording to the City’s 2011 Comprehensive Annual Financial Report, the top

employers in the city are:

OLD COUNTY COURTHOUSE

1 Etiwanda School District 1,312

2 Chaffey College 1,300

3 Amphastar Pharmaceuticals 999

4 City of Rancho Cucamonga 880

5 Alta Loma School District 783

6 Macy’s 750

7 Central School District 680

8 West Valley Dentention Center 668

9 Big Lots 521

10 Mercury Insurance Company 509

“A World Class Community”

Rancho Cucamonga

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3Area Overview


Rancho Cucamonga Overview

Source: https://en.wikipedia.org/wiki/Rancho_Cucamonga,_California

Crowned by the majestic San Gabriel Mountains, the City’s planned communities and award-winning

architecture reflect on a community proud of its past and excited by its future. With over 20 parks and

community facilities, and having highly rated schools, Rancho Cucamonga has much to offer its residents.

Businesses too are finding Rancho Cucamonga is a great place to call their home.

C haffey CollegeThe college district serves the population of the vibrant inland empire of western San Bernardino County. Chaffey College improves lives within the diverse communities it serves through equal access to quality occupational, transfer, general education, and foundation programs in a learning-centered environment where student success is highly valued, supported, and assessed.www.chaffey.edu

Empire Lakes Golf CourseA Legend, Prestigious, a Symbol of Excellence in Golf. Put those words together and you get the award-winning Arnold Palmer-designed Empire Lakes Golf Course. Located 30 minutes north of Orange County and east of Los Angeles County, this par 72 Championship layout brings tradition and an extraordinary experience to the game of golf. www.empirelakes.com

Victoria Gardens Victoria Gardens is a pedestrian-oriented, open-air, mixed-use town center in Rancho Cucamonga, California. Located North of Foothill Boulevard between Day Creek Boulevard and Etiwanda Avenue by the Interstate 15 freeway, the 147-acre project consists of residential areas, office space, retail stores, public plazas, a movie theater, and a civic cultural arts center.www.victoriagardensie.com

Auto Club SpeedwayThe Auto Club Speedway (formerly California Speedway) is located just five minutes from Rancho Cucamonga. You can enjoy exciting NASCAR races or attend various other events that are scheduled throughout the year. Racing at Auto Club Speedway is a full day of fun and entertainment.www.autoclubspeedway.com

13\ \The

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3Area Overview


Area Schools Exhibit

Cucamonga ELEMENTARY SCHOOL | K-8

8677 Archibald Ave

Rancho Cucamonga, CA

Tel: (909) 980-1318

CUCAMONGA SCHOOL DISTRICT

Rancho MIDDLE SCHOOL | 6-8

10022 Feron Blvd


Tel: (909) 980-0969

CUCAMONGA SCHOOL DISTRICT

Chaffey HIGH SCHOOL | 9-12

1245 N Euclid Ave


Tel: (909) 988-5560

CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT

1

2

3

3

CHAFFEYHIGH

1CUCAMONGAELEMENTARY

2RANCHO MIDDLE

GreatSchoolsRating

5out of 10

GreatSchoolsRating

5out of 10

GreatSchoolsRating

6out of 10

SUBJECT SITE

10 10

15

60 60

15

15

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4Market Overview


Resale Housing Market: Rancho Cucamonga

MEDIAN LISTING PRICE

MEDIAN DAYS ON MARKET

$615KMedian Listing Price

$470KMedian Closing Price

$267Price Per Sq Ft

AUG 2017 | Source: REALTOR.COM 144 Homes for Rent575 Homes for Sale

$600K

$500K

$400K

$300K

$200K

$100K

$02015 2016 2017

80

70

60

50

40

30

20

10

0

2015 2016 2017

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4Market Overview


Rancho Cucamonga | Actively Selling Detached Projects*

* Currently no actively selling attached projects in the city of Rancho Cucamonga.

96 LotsInventory within actively selling

projects

6Active Projects

$791,167 to

$874,435Average Pricing

Project Builder Open Date Lot SizeMin. Unit Size sq ft

Max. Unit Size sq ft Min. Price Max. Price

Total Units Planned

Total Units Sold

Total Units Remaining

Average Sales Rate

3 Month Sales Rate

Quick Move-In

Bella Vista Estates Griffin Residential 11/30/2016 21,780 3,369 4,442 $974,990 $1,092,350 11 6 5 0.74 0.67 -

La Ventana KB Home 11/22/2014 23,409 2,491 4,506 $785,990 $909,880 71 51 20 1.57 2.33 -

Meadow Lane Estates Emerald Homes 9/10/2016 6,000 2,437 2,437 $729,880 $729,880 31 30 1 2.70 2.00 -

Mueller's Grove GFR Homes 4/17/2017 15,000 3,208 3,966 $935,900 $985,900 10 3 7 0.92 0.67 9

Phoenix Crest Benchmark Communities 3/1/2015 8,600 2,682 4,052 $763,900 $960,990 95 59 36 1.99 3.67 4

Spanish Trails Frontier Communities 3/1/2017 4,000 2,222 2,237 $556,340 $567,610 39 12 27 2.72 3.33 -257 161 96 1.77 2.11

Total Total Total Avg Avg

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4Market Overview


5.0%

Avg. Vacancy Rate

Apartment Rent Summary

17

No. of Rent Comps

$1,772

Avg. Rent Per Unit

$1.91

Avg. Rent Per SF

AUG 2017 | Source:

Rent Comparables Summary8200 Haven Ave

No. Rent Comps

17Avg. Rent Per Unit

$1,772Avg. Rent Per SF

$1.91Avg. Vacancy Rate

5.0%RENT COMPS LOCATIONS

RENT COMPS SUMMARY STATISTICS

Unit Breakdown Low Average Median High

Total Units

Studio Units

One Bedroom Units

Two Bedroom Units

Three Bedroom Units

166

0

0

84

0

396

7

163

188

39

328

0

152

176

27

868

107

460

319

97

Property Attributes Low Average Median High

1985Year Built

Number of Floors

Average Unit Size

Vacancy Rate

Star Rating

2

777 SF

0.0%

1996

2

925 SF

5.0%

2001

3

923 SF

5.0%

2009

3

1,062 SF

13.8%

3.6

8/16/2017Copyrighted report licensed to The Hoffman Company - 854708.

Page 7

OFFERING MEMORANDUM

Verano at Rancho Cucamonga Town Square

Numbers on Map correspond to chart on following page.

Rent Comps

210210

15

1

2

103

8

14

12

416

5

7

17

11

6

13

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4Market Overview


Apartment Rent Summary Chart


Property Name/Address Rating Yr Built Units Avg Unit SF Studio 1 Bed 2 Bed 3 Bed Rent/SF

Property Size Asking Rent Per Month Per Unit

-Homecoming at Terra Vista

868 1,032 - $1,925 $2,233 $2,654 $2.0511660 Church St

1 2004

-Montecito

256 882 - $1,562 $1,912 - $2.0411343 Mountain View Dr

2 1990

-Evergreen

393 829 - $1,439 $1,622 $1,963 $1.9710730 Church St

3 1987

-The Angelica Rancho Cu…

270 947 - $1,634 $2,027 $2,572 $1.937828 Day Creek Blvd

4 2005

-Barrington Place

420 901 - $1,629 $1,766 $2,610 $1.937950 Etiwanda Ave

5 2003

-Solamonte

521 934 - $1,560 $1,905 $2,595 $1.939200 Milliken Ave

6 2001

-Victoria Woods

328 912 - $1,399 $1,775 $2,050 $1.938493 Etiwanda Ave

7 1989

-Villaggio on Route 66

166 922 - - $1,702 $1,900 $1.9210220 Foothill Blvd

8 2009

-Creekside Alta Loma

290 887 - $1,509 $1,771 $2,300 $1.9210757 Lemon Ave

9 1989

-Del Mar Apartments

550 965 - $1,556 $1,892 $2,265 $1.927868 Milliken Ave

10 1988

-Village on the Green Apar…

264 826 $1,280 $1,462 $1,833 - $1.909400 Fairway View Pl

11 2005

-Sycamore Springs Apart…

240 779 - $1,313 $1,584 - $1.897127 Archibald Ave

12 1985

-Ironwood at Empire Lake…

496 962 - $1,628 $1,940 $2,380 $1.8911100 4th St

13 2002

-Avana Rancho Cucamonga

623 776 $1,187 $1,399 $1,548 - $1.8410300-10400 Arrow Rt

14 1986

-Verano at Rancho Cucam…

414 997 $1,557 $1,524 $2,000 $2,199 $1.808200 Haven Ave

2005

-Sierra Heights

265 1,061 - $1,583 $1,901 $2,249 $1.8010801 Lemon Ave

15 1990

-Victoria Arbors

319 1,008 - $1,649 $1,924 - $1.797922 Day Creek Blvd

16 2006

-The Reserve at Empire L…

467 971 - $1,519 $1,794 $2,311 $1.7711210 4th St

17 2005


Page 8

AUG 2017 | Source:


No. Rent Comps







Total Units

Studio Units

One Bedroom Units

Two Bedroom Units

Three Bedroom Units

166

0

0

84

0

396

7

163

188

39

328

0

152

176

27

868

107

460

319

97


1985Year Built

Number of Floors

Average Unit Size

Vacancy Rate

Star Rating

2

777 SF

0.0%

1996

2

925 SF

5.0%

2001

3

923 SF

5.0%

2009

3

1,062 SF

13.8%

3.6


Page 7

OFFERING MEMORANDUM

Numbers on Map correspond to chart on following page.

Verano at Rancho Cucamonga Town Square Rent Comps

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4Market Overview


Rent Comparables Photo Summary

Evergreen10730 Church St393 Units / 2 Stories

Owner: Lewis Group of CompaniesRent/SF $1.97, Vacancy 1.5%

3Montecito11343 Mountain View Dr256 Units / 2 Stories


2Homecoming at Terra11660 Church St868 Units / 2 Stories


1

Solamonte9200 Milliken Ave521 Units / 3 Stories

Owner: Mesirow FinancialRent/SF $1.93, Vacancy 6.5%

6Barrington Place7950 Etiwanda Ave420 Units / 2 Stories

Owner: NY State Teachers Retire…Rent/SF $1.93, Vacancy 5.2%

5The Angelica Rancho7828 Day Creek Blvd270 Units / 3 Stories

Owner: -Rent/SF $1.93, Vacancy 13.7%

4

Creekside Alta Loma10757 Lemon Ave290 Units / 3 Stories

Owner: RedHill Realty InvestorsRent/SF $1.92, Vacancy 9.7%

9Villaggio on Route 6610220 Foothill Blvd166 Units / 3 Stories

Owner: National Community Renai…Rent/SF $1.92, Vacancy 0%

8Victoria Woods8493 Etiwanda Ave328 Units / 2 Stories

Owner: Allmark Properties, Inc.Rent/SF $1.93, Vacancy 4.3%

7

Rent Comparables Photo Comparison8200 Haven Ave


Page 9AUG 2017 | Source:


No. Rent Comps







Total Units

Studio Units

One Bedroom Units

Two Bedroom Units

Three Bedroom Units

166

0

0

84

0

396

7

163

188

39

328

0

152

176

27

868

107

460

319

97


1985Year Built

Number of Floors

Average Unit Size

Vacancy Rate

Star Rating

2

777 SF

0.0%

1996

2

925 SF

5.0%

2001

3

923 SF

5.0%

2009

3

1,062 SF

13.8%

3.6


Page 7

OFFERING MEMORANDUM

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4Market Overview


Rent Comparables Photo Summary

Sycamore Springs7127 Archibald Ave240 Units / 2 Stories

Owner: National Community Renai…Rent/SF $1.89, Vacancy 2.1%

12Village on the Green9400 Fairway View Pl264 Units / 3 Stories

Owner: Acacia Capital CorporationRent/SF $1.90, Vacancy 5.3%

11Del Mar Apartments7868 Milliken Ave550 Units / 2 Stories


10

Verano at Rancho8200 Haven Ave414 Units / 1 Story

Owner: UDR, Inc.Rent/SF $1.80, Vacancy 2.7%

Subject Property

Avana Rancho10300-10400 Arrow Rt623 Units / 3 Stories

Owner: Greystar Real Estate Partn…Rent/SF $1.84, Vacancy 5.9%

14Ironwood at Empire11100 4th St496 Units / 3 Stories

Owner: Western National GroupRent/SF $1.89, Vacancy 5.0%

13

The Reserve at Empire11210 4th St467 Units / 3 Stories

Owner: Equity ResidentialRent/SF $1.77, Vacancy 4.5%

17Victoria Arbors7922 Day Creek Blvd319 Units / 3 Stories

Owner: Sares-Regis GroupRent/SF $1.79, Vacancy 9.1%

16Sierra Heights10801 Lemon Ave265 Units / 2 Stories

Owner: TA RealtyRent/SF $1.80, Vacancy 6.4%

15

Rent Comparables Photo Comparison8200 Haven Ave


Page 10

AUG 2017 | Source:


No. Rent Comps







Total Units

Studio Units

One Bedroom Units

Two Bedroom Units

Three Bedroom Units

166

0

0

84

0

396

7

163

188

39

328

0

152

176

27

868

107

460

319

97


1985Year Built

Number of Floors

Average Unit Size

Vacancy Rate

Star Rating

2

777 SF

0.0%

1996

2

925 SF

5.0%

2001

3

923 SF

5.0%

2009

3

1,062 SF

13.8%

3.6


Page 7

OFFERING MEMORANDUM

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4Market Overview


Construction Summary

AUG 2017 | Source:


No. Rent Comps







Total Units

Studio Units

One Bedroom Units

Two Bedroom Units

Three Bedroom Units

166

0

0

84

0

396

7

163

188

39

328

0

152

176

27

868

107

460

319

97


1985Year Built

Number of Floors

Average Unit Size

Vacancy Rate

Star Rating

2

777 SF

0.0%

1996

2

925 SF

5.0%

2001

3

923 SF

5.0%

2009

3

1,062 SF

13.8%

3.6


Page 7

OFFERING MEMORANDUM

Construction Summary8200 Haven Ave

CONSTRUCTION DELIVERIES IN UNITS

CONSTRUCTION STARTS IN UNITS


Page 57

Construction Summary8200 Haven Ave

CONSTRUCTION DELIVERIES IN UNITS

CONSTRUCTION STARTS IN UNITS


Page 57

Apartment Construction Deliveries by Year | Rancho Cucamonga Sub Market

Apartment Construction Starts by Year | Rancho Cucamonga Sub Market One Apartment project under Construction consisting of

112 units estimated

delivery date July - 2018

Southern California Office

18881 Von Karman Avenue, Suite 150

Irvine, California 92612

T 949.553.2020 | F 949.553.8449

www.hof fmanland.comTHE HOFFMAN COMPANY

Coachella Valley Office

777 E Tahquitz Way, Suite 200

Palm Springs, California 92262

T 760.969.7357 | F 949.553.8449

Northern California Office

2121 North California Blvd., Suite 290

Walnut Creek, California 94596

T 925.478.8429 F 949.553.8449

Nevada Office

9205 W Russell Rd, Suite 235

Las Vegas, Nevada 89148

T 702.793.4370

The

Hoffman

Company

Leading the LandBrokerage IndustryC A L I F O R N I A + N E V A D A

rancho cucamonga business park - the hoffman company · 7.93 acres rancho cucamonga, ca vd ve ve...

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