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TRANSCRIPT
DATE PALM RD
DATE PALM RD
BOB H
OPE D
R
RAMON RD
OFFERING MEMORANDUM
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S
E W
TRIBE
TRIBE
TRIBE
PRIVATE
PRIVATE
PRIVATE10
VARNER RD
RAMON RDAGUA CALIENTE CASINO RESORT & SPA
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TRIBE
The project is approved for residential and commercial via the North City Specific Plan, 15 acres can immediately be available for development with minimal infrastructure improvements for a variety of agricultural (greenhouses), commercial or industrial uses with newly approved overlays. I-10 freeway ramp access is immediately adjacent, providing access to the LA Basin.
EXCLUSIVELY OFFERED BY:
KEVIN NOLEN [email protected] Lic. 01840398
TIM [email protected] Lic. 00891667
JASON KIMMEL [email protected] Lic. 01328121
RETAIL/AGRICULTURE/VISITOR SERVING USES PERMITTED
DEVELOPER FRIENDLY SITE CATHEDRAL CITY, CA
15 ACRE SITE
Cushman & Wakefield has been retained as exclusive advisor to the Seller for the sale the approximately 5 acres of real property located generally north of Interstate 10 Freeway, south of Varner Road, and east of Date Palm Drive in the County of Riverside and more particularly described as APN’s: 670-020-16.
This Offering has been prepared by Cushman & Wakefield -for use by a limited number of parties and does not purport to provide a necessarily complete summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by Cushman & Wakefield, the Owner, and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and Cushman & Wakefield, therefore, are subject to variation. No representation is made by Cushman & Wakefield or Owner as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Cushman & Wakefield, Owner, and its employees disclaim any and all liability for
representations and warranties, expressed and implied, contained in, or for omission from, this Investment Offering or any other written or oral communication transmitted or made available to the recipient. This Offering does not constitute a representation that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the package. Analysis and verification of the information contained in this package is solely the responsibility of the prospective purchaser.
Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors.
Owner and Cushman & Wakefield each expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing this Offering or making an offer to purchase the Property unless and until a written agreement for the purchase of the Property has been fully executed, delivered, and approved by Owner and its legal counsel, and any conditions to Owner’s obligations thereunder have been satisfied or waived. Cushman & Wakefield is not authorized to make any representations or agreements on behalf of Owner.
This Offering and the contents, except such
information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein are called the “Contents”), are of a confidential nature. By accepting the package, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate said package, (iii) not to disclose the package or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Owner or Cushman & Wakefield, (iv) not to use the package or any of the contents in any fashion or manner detrimental to the interest of Owner or Cushman & Wakefield, and (v) to return package in it’s entirety to Cushman & Wakefield immediately upon request of Cushman & Wakefield or Owner.
If you have no further interest in the Property, please return this Investment Offering forthwith.
D I S C L A I M E RD
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KEVIN NOLEN [email protected]
858.546.5487CA Lic. 01840398
JASON KIMMEL [email protected]
858.546.5414CA Lic. 01328121
858.546.5436CA Lic. 00891667
PA
GE
01
5 miles to Palm Springs Airport
90 miles from LA
Traffic count: 110,000 trips per day by the site
4 miles to palm springs
FEATURES• 15 acre parcel that can be developed
immediately utilizing existing infrastructure
• Agriculture uses are allowed CLICK HERE FOR CITY PLAN
• Permitted for residential - http://www.thevalley-center.com/ (nearly 3,000 units and 4.5M planned SF of commercial in the plan, the majority planned on subject site)
• Palm Springs is undergoing a significant renaissance with new high end hotels, a refurbishment of the casino, and dramatic streetscape improvements, creating thousands of new jobs for local residents
• I-10 Freeway visibility and access via Date Palm Dr.
O F F E R I N G S U M M A R YLOCATION: Cathedral City Riverside County North of Interstate 10, south of Varner Rd & east of Date Palm Drive
ASKING PRICE: $2,610,000
APN: 670-020-016
LAND AREA: +/- 15 Acres
POTENTIAL USES: Industrial BuildingsAgricultural usesRetail – Fast Food, Gas Station, Highway Serving CommercialHotel/MotelAssisted Living/Senior Housing
UTILITIES: Low cost and easy access to utilities
OFFERACCEPTED CLOSE OF ESCROW
FEB 2018 JUNAPR
670.020.015
670.020.014
670.030.036
670.030.016
670.030.012
670.020.007
670.020.016
670.030.018670.030.021
126
670.030.015
BUYER PASSES NON-REFUNDABLE
DEPOSITEND OF DD PERIOD
BEGIN DD WORK
PA
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Hundreds of millions of dollars in alternative
agriculture related projects being invested in, creating jobs, fortunes, and a new
tax base.
“ G R E E N E C O N O M Y ”
ECONOMIC REPORT:
EMPLOYMENT GROWTH IN THE INLAND EMPIRE
Click here to visit the greater Palm Springs Economic Report
Click here to visit the University of California Riverside employment report January 2017
Click here to visit the University of California Riverside Employment Report March 2017
C O A C H E L L A VA L L E Y G R O W I N G
Click here to visit the La Times article
Click here to visit the Desert Sun article
Click here to visit the Desert Sun article
PA
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A M E N I T I E SCOUNTRY CLUB
1 Indian Wells Tennis Garden
2 Woodhaven Country Club
3 Toscana Country Club
4 Classic Club
5 Seven Lakes Country Club
6 Mesquite Golf & Country Club
7 Thunderbird Country Club
8 Mission Hills Country Club
9 Rancho Mirage Country Club
GROCERY
10 Gelson's Markets
11 Jensen's Finest Foods
12 Vons
13 Albertsons
14 Trader Joe's
15 Clark's Nutrition
16 Ralph's
HOTELS
17 Ritz Carlton Rancho Mirage
18 Parker Palm Springs
19 Hard Rock Hotel Palm Springs
20 Hotel California
21 Riviera Resort & Spa
22 Hyatt Palm Springs
23 Agua Cliente Casino Resort & Spa
MEDICAL
24 Cathedral Medical Clinic
25 Palm Canyon Dental Office
26 Kaiser Permanente Palm Desert Medical Offices
27 Kerrigan Family Medical Group: Frank Kerrigan DO
28 Eisenhower Medical Center
29 The Kiloby Center for Recovery
30 Desert Urgent Care
31 Desert Regional Medical Center
RETAIL
32 Rancho Las Palmas Shopping Center
33 Westfield Palm Desert
34 The River
35 The Home Depot
SCHOOLS
36 Cal State University San Bernardino- Palm Desert
37 UC Riverside - Palm Desert
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DATE PALM DRIVE
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Demographic and Income Comparison ProfileCathedral City, California 3 Prepared by EsriCathedral City, California Latitude: 33.85281Rings: 3, 5, 10 mile radii Longitude: -116.45345
3 miles 5 miles 10 milesCensus 2010 Summary
Population 33,844 86,613 190,982Households 10,251 32,930 79,405Families 7,449 18,979 43,719Average Household Size 3.28 2.61 2.39Owner Occupied Housing Units 6,860 21,590 50,914Renter Occupied Housing Units 3,391 11,340 28,491Median Age 34.1 41.7 45.1
2017 SummaryPopulation 35,897 91,864 204,496Households 10,923 34,912 84,824Families 7,889 20,003 46,483Average Household Size 3.26 2.61 2.40Owner Occupied Housing Units 7,111 22,201 52,629Renter Occupied Housing Units 3,813 12,711 32,195Median Age 34.9 43.8 47.5Median Household Income $53,936 $48,983 $47,869Average Household Income $75,416 $74,891 $77,080
2022 SummaryPopulation 37,693 96,827 216,932Households 11,451 36,717 89,738Families 8,264 20,993 49,095Average Household Size 3.27 2.62 2.40Owner Occupied Housing Units 7,447 23,281 55,420Renter Occupied Housing Units 4,004 13,436 34,318Median Age 35.8 44.5 48.7Median Household Income $56,805 $51,639 $51,034Average Household Income $84,323 $84,191 $86,866
Trends: 2017-2022 Annual RatePopulation 0.98% 1.06% 1.19%Households 0.95% 1.01% 1.13%Families 0.93% 0.97% 1.10%Owner Households 0.93% 0.95% 1.04%Median Household Income 1.04% 1.06% 1.29%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.
October 16, 2017
©2017 Esri Page 1 of 7
Demographic and Income Comparison ProfileCathedral City, California Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 33.85298
Longitude: -116.45330
5 miles
AreaStateUSA
Trends 2017-2022Trends 2017-2022
Ann
ual R
ate
(in
perc
ent)
2.5
2
1.5
1
0.5
0Population Households Families Owner HHs Median HH Income
20172022
Population by AgePopulation by Age
Perc
ent
12
10
8
6
4
2
00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2017 Household Income 2017 Household Income
< $15K11.4%
$15K - $24K12.9%
$25K - $34K11.2%
$35K - $49K15.2%
$50K - $74K16.9%
$75K - $99K10.6%
$100K - $149K12.0%
$150K - $199K4.0%
$200K+5.8%
2017 Population by Race2017 Population by Race
Perc
ent
65605550454035302520151050
White Black Am.Ind. Asian Pacific Other Two+ Hisp
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.
October 10, 2017
©2017 Esri Page 7 of 7
D E M O G R A P H I C S
4747 Executive Drive, Suite 900San Diego, CA 92121
T 858.546.5400 F 858.630.6320cushmanwakefield.com
JASON KIMMEL [email protected] Lic. 01328121
TIM [email protected] Lic. 00891667
KEVIN NOLEN [email protected] Lic. 01840398
N
S
E W
Bo
b H
op
e Drive
OFFERING MEMORANDUM RETAIL/AGRICULTURE/VISITOR SERVING USES PERMITTED
DEVELOPER FRIENDLY SITE CATHEDRAL CITY, CA