Merced Campus Village - LoopNet...the University of California at Merced . UC Merced is the first...

Offering Memorandum

Merced Campus Village


The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

NON-ENDORSEMENT NOTICE

CONFIDENTIALITY AND DISCLAIMER

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

exclusively listedExclusively listed by:

OFFICES NATIONWIDE

www.marcusmillichap.com


EXECUTIVE SUMMARYOffering Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Investment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Annexation Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-9Summary of Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

PROPERTY DESCRIPTIONRegional Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Local Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Parcel Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-16

MARKET OVERVIEWLocation Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Stanislaus Market Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . 19-20Demographic Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

Table of Contents

summaryE X E C U T I V E S U M M A R Y

EXECUTIVE SUMMARY

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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2012 Marcus & Millichap ACT ID V0120396

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WMerced Campus Village

MERCED DEVELOPMENT4625 North Lake Road

Merced, CA 95340

OFFERING SUMMARYPrice TBD by Market

Lot Size (SF) 2,057,774 SF

Lot Size (Acres) 47.24

Buildable SF

Number of Lots One

Lot Dimensions 1292’ x 1679’ +/-

Type of Ownership Fee Simple

SITE DESCRIPTION

Assessor's Parcel Number 060-020-044

Zoning Mixed Use/ Retail/ Office/

Apartments

Taxes $7,283

Tax Year 2013

Frontage 1679 L.F. fronting

Services City & County

Utilities Available

Traffic Counts TBD

Adjacent Development UC Merced Campus

DEMOGRAPHICS

1 Mile 3 Miles 5 Miles

2013 Population 1,408 22,373 72,320

2018 Population 1,623 24,404 77,581

2013 Households 95 7,279 23,996

2018 Households 116 7,995 25,733

Median HH Income $84,888 $62,968 $42,127

Per Capita HH Income $9,253 $28,271 $20,875

Average HH Income $117,200 $83,903 $61,296

Major Employers Service

County of Merced Government

Foster Poultry Farms Agriculture

CF Merced La Sierra LLC Healthcare

Merced Community College Education

Mater Misericordiae Hospital Healthcare

Qg LLC

MAJOR EMPLOYERS

Printing

Dole Packaged Foods LLC Agriculture


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EXECUTIVE SUMMARY

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Marcus & Millichap has been selected to exclusively market for sale the Merced Campus Village property, consisting of 47 .24 acres, which is approximately 2,077,812 square feet of mixed-use zoned property (City of Merced General Plan) adjacent to the University of California at Merced . UC Merced is the first new campus of the University of California to be built in 40 years and is located in the growth-friendly community of Merced, California .

The economic impact of UC Merced is immense, as student enrollment continues to exceed projections and putting incredible demands on off-campus housing and retail services . As the campus is in such demand for services, the listing agents are in direct contact with the UC chancellors and can put any interested party in touch with the right people at the Merced campus .

Because of budget constraints, the university is not able to adequately provide all of the classrooms, research laboratories, student housing, recreational facilities and office space necessary to accommodate its projected enrollment growth to 10,000 students by the year 2020 . The Merced Campus Village property is in a prime location to capitalize on the significant growth anticipated to occur over the next 5–6 year period and beyond to an anticipated student population of 25,000, plus faculty and support staff .

University staff and support office facilities are currently fragmented in three off-campus locations . With over 1,300 current employees and growing, the need for consolidation and efficiency will continue to increase . The subject property affords the potential for a private/public venture to provide consolidation of office space in convenient proximity to the campus .

On-campus housing currently provides only about 1,300 beds for over 6,000 students, putting incredible strain on the Merced rental housing market as well as the university-operated busing system . The subject property affords the potential to provide both workforce and student housing in close proximity to the university in a “village” theme . As envisioned by the City of Merced in its 2013 General Plan update (“Vision 2030”), the “pedestrian campus village” on the subject property might also include coffee shops, restaurants, pubs, entertainment spots, and other village-related venues . Unlimited possibilities await the savvy investor/developer with the vision, patience and abilities to bring Merced Campus Village to reality .

Investment Highlights■■ 47 .24 acres, or 2,057,774 square feet of land adjacent to UC Merced campus■■ Zoned “mixed-use” in City of Merced General Plan■■ Capitalize on immediate demand for student housing; support office and retail

opportunities for UC Merced■■ Pedestrian-oriented community development■■ Possible public/private development on privately owned land■■ Significant student and staff population growth through 2020■■ Cooperative governmental jurisdictions

Investment Overview

EXECUTIVE SUMMARY


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Annexation Analysis

Alternative’A’ Annexation Analysis

The proposed annexation area (Exhibit 1) is the first phase of a planned expansion of the City limits in and around the UC Merced Campus . The unincorporated area under review generally lies between the current City limits at Gardener Road and the UC Merced Campus west of Lake Road; involving 51 separate parcels on 282 acres . The City of Merced currently owns a 5 acre parcel within the planned annexation area on the south side of Cardella Road .

All property within the planned annexation is included within the proposed City of Merced Specific Urban Development Plan (SUDP) boundaries, as identified in the Draft 2030 Land Use Map (Exhibit 2) . Proposed general plan land uses correspond, for the most part, with existing land uses (primarily Rural Residential) with the exception of + 50 acres at the corner of Bellevue and Lake planned for Thoroughfare Commercial .

The overall intent of the proposed annexation is to facilitate the efficient provision of municipal services to growing UC Merced campus and surrounding environs .

Municipal Sewer and Water Services

Sewer services to the UC Campus is provided by a 24 inch trunk line in Bellevue Road, sized to service the campus at full build out, or alternatively, Phase 1 campus development and most of the lands within the northern SUDP .

Water service to the Campus is provided by a 16 inch line along the Bellevue Road alignment tied into a new well (#17)at the entrance to the campus on land deeded to the City . Most (9O%) of the potable water currently used to service the campus comes from an aboveground 250,000 gallon storage reservoir fed from Well # 17, with excess water flowing back into the City system .

Both sewer and water services are provided to UC under a contract with the City of Merced . That contract allows for third party use of the lines, provided that all of UC Merced’s Phase One needs can be met, as determined by UC . Some third party use of the services will likely be requested from UC for the aforementioned mixed-use neighborhood for the development of off-campus university related facilites .

As the UC Campus grows, there will be a continuing need for support services in the form of off- campus housing, retail, office, light industrial, recreation and other institutional needs . For the most part, those needs will be met by the phased development of the University Community, a planned development contiguous and south of the main UC Campus . That planned communty, as illustrated in Exhibit 3, does not currently have an urban level of municipal services . As such, there will need to be an extension of infrastructure in the form of both water and sewer to provide the level of urban services required for a development of that scale and scope .

The City’s current lnfrastructure Master Plan shows a planned 27-33 inch trunk sewer line and a 15 inch water pipeline running down the Cardella Road alignment . Depending upon the ultimate size of the sewer trunk line placed in Cardella, a 15 to 21 inch main would be extended north along Lake Road for properties not serviced by the Bellevue Road line . To complete the water loop between Bellevue and Cardella, a 16 inch water pipeline would be constructed in Lake Road following the standard grid pattern used by the City . An additional domestic well will also be needed to augment the existing well Bellevue and Lake . Developing properties within the area will need to pay their proportionate share of costs associated with the extension of needed infrastructure .

Unlike the UC Merced agreement with the City where there is a singular user of the newly constructed facilities operated under a contract with the City, there will be thousands


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EXECUTIVE SUMMARY

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of individual hookups in the University Community, necessitating at some future date, the annexation of the entire area into the City . The current annexation proposal under consideration in this request is the “link” or land bridge between current and future needs, ultimately providing the platform for the future annexation of both the UC Merced campus and University Community .

Land Use

Existing land uses within the proposed annexation area are for the most part rural in character, consisting of individual homes on larger parcels of land . lmprovements are limited, consistent with the low-density use of the land .Most of the land within the proposed annexation area is currently designated within the existing County General Plan as Rural Residential Centers (RRC) . As defined, RRCs provide for urban or suburban development at lower densities with minimal municipal services . The County recognizes that there are problems with the traditional build out of RRC’s and that no new RRC’s are needed . They cite that RRC’s are extremely inefficient in terms of service delivery costs, do not provide a real land use buffer between urban and rural uses, have a greater potential for ground water contamination (septic tanks) and are becoming increasingly difficult to be serviced from individual wells due to stricter water quality standards . The City supports the view that RRC’s are not a highly desirable land use moving forward .The Draft 2030 Land Use Plan for the City of Merced shows the area under consideration transitioning from a more urban character along Bellevue Road to a more rural setting south of Cardella Road (Exhibit 2) . Lands between Bellevue and Cardella include a mix of Thoroughfare Commercial along Bellevue, low density residential adjacent to the current City limits and a mix of low density residential / rural residential land uses moving south along Lake Road . All of the area between Gardner Avenue, Cardella Road, Lake Road and Yosemite Avenue has been planned to remain as Rural Residential in response to the community’s desire to maintain that character and lifestyle .Annexation of the area into the City is not anticipated to impact existing land use patterns, as planned land uses mirror existing land uses . The exception to this occurs along Bellevue Road where a more mixed-use development pattern is proposed by both the City and private development interests . The only real change that could potentially impact the area is the future availability of municipal water and sewer services, providing for a net positive environmental impact, as the use of septic systems and individual wells are eliminated . ln addition, upon annexation, the City of Merced would take over primary responsibility for the provision of emergency response services, although the mutual assistance agreements would remain in place . Development impact fees would be used to offset the need for additional emergency response personnel and facilities .

Conclusion

Annexation of the lands as illustrated in Exhibit 1” will help to facilitate the provision of municipal service efficiencies, not inefficiencies . Annexation will provide the bridge between the current City boundaries and the planned goal of annexing both the UC Merced campus and the University Community . Municipal services in the form of sewer and water will be expanded within the proposed annexa-tion area and be available to service the new growth as the UC Merced Campus continues to expand . Emergency response services will also be consolidated through annexation and become the primary responsibility of the City of Merced, enhanced through mutual aid agreements with the County and the UC Merced police force . Annexation will also allow for the development of land uses consistent with the proposed 2030 General Plan in support of the long range development plans for growth of the UC Merced campus and surrounding environs .

Annexation Analysis

EXECUTIVE SUMMARY


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EXECUTIVE SUMMARY

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Annexation Analysis

EXECUTIVE SUMMARY


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Annexation Analysis


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EXECUTIVE SUMMARY

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Annexation Analysis

EXECUTIVE SUMMARY


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Interest Offered

Fee simple interest in Merced Campus Village, a 47 .24 acre or 2,057,774-square foot piece of land located at 4625 North Lake Road, Merced, CA 95340 .

Terms of the Sale

Merced Campus Village is offered on an Open Bid basis free and clear of existing debt, Owner financing may be available for a qualified buyer .

Property Tours

Prospective purchasers are encouraged to visit the subject property prior to submitting offers . However, all property tours must be arranged with the Marcus & Millichap listing agents .

Summary of Terms

descriptionP R O P E R T Y D E S C R I P T I O N

PROPERTY DESCRIPTION

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Regional Map

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Alturas

Angels

Arnold

Avalon

Avenal

Bishop

Boron

Burney

California City

Calipatria

Cambria

Central Valley

Cloverdale

Corning

Crescent City

Dos Palos

Dunsmuir

Earlimart

Gonzales

Greenfield

Huron

Lake Isabella

Lakeport

Live Oak

Mammoth Lakes

Mission Hills

Mojave

Mount Shasta

Needles

Newman

Orland

Pine Hills

Pixley

Quincy-East Quincy

Rio Dell

Rosamond

Searles Valley

Sonora

Tehachapi

Truckee

Weaverville

Weed

Westwood

Willits

Willows

Wofford Heights

Woodlake

Wrightwood

Anderson

Arvin

Blythe

Chowchilla

Desert Hot Springs

Fort Bragg

Fortuna

Galt

Healdsburg

King City

Lamont

McFarland

McKinleyville

Morro Bay

Oroville

Placerville

Red Bluff

Sebastopol

Soledad

Susanville

Vandenberg AFB

Yreka

Bagdad

Parker

Kingman

Buhl

Burley

Rupert

Brookings

Eagle Point

Harbor

Jacksonville

Lakeview

Phoenix

Washington

Battle Mountain

Ely

Fallon

Hawthorne

New Washoe City

Winnemucca

Yerington

Boulder City

Elko

Exeter

Chico

Lancaster

Lodi

Lompoc

Merced

Monterey

Palm Springs

Petaluma

Poway

Redding

San Luis Obispo

Santa Cruz

Santa Maria

Visalia

Vista

Arcata

Arroyo Grande

Atascadero

Atwater

Barstow

Big Bear

Brawley

Calexico

Ceres

Delano

El Centro

Encinitas

Eureka

Fallbrook

Gilroy

Hanford

Hesperia

Hollister

Indio

Linda

Los Banos

Madera

Manteca

Marina

Morgan Hill

Palm Desert

Palmdale

Porterville

Reedley

Ridgecrest

Sanger

Selma

Solana Beach

South Lake Tahoe

Tulare

Ukiah

Victorville

Watsonville

Yuba City

Yucaipa

Bullhead City

Lake Havasu City

Yuma

Twin Falls

Medford

AltamontAshland

Grants Pass

Klamath Falls

Cedar City

St. George

Henderson

Winchester

RosaritoSan Luis

Bakersfield

Berkeley

Concord

Fremont

Modesto

Oxnard

Riverside

San Bernardino

Stockton

Arden-Arcade

Burbank

Chula Vista

CitrusHeights

Costa Mesa

Daly City

El Cajon

Escondido

Fairfield

La Mesa

Mission Viejo

Napa

Newport Beach

Oceanside

Palo Alto

Pomona

Redondo Beach

Redwood City

Richmond

Salinas

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Vallejo

Whittier

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Paradise

Anaheim

Fresno

Long Beach

Los Angeles

Oakland

San Diego

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San Jose

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Sacramento

Carson City

Mexicali

Arizona

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E Bellevue Rd E Bellevue RdW Bellevue Rd

G St

G St

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G St

Merced College

E Yosemite AveW Yosemite Ave E Yosemite Ave

M S

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El Portal Plaza

Rahilly Park

Yosemite Church

Dunn Rd

W Cardella Rd E Cardella Rd

Mercy Medical Center Merced

M C

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Mercy Ave

University of California ,

Merced

Farmland AveFair�eld Canal

Hunt Farms Airport

Yosemite Lake

Lake Yosemite County Park

Lake RdLake Rd

Pars

ons

Ave

McK

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Old Lake RdLocal Map



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Parcel Map

UC Merced Campus



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Parcel Map


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overviewM A R K E T O V E R V I E W

MARKET OVERVIEW

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Merced is the county seat of Merced County and is located in the heart of California’s San Joaquin Valley, the richest agricultural region in the world . It is also a convenient location, just a two-hour drive to Yosemite, Monterey/Carmel, or the San Francisco Bay Area and 45 minutes to Fresno, California’s fifth largest city . Los Angeles is approximately 4 .5 hours away .

New businesses in the medical, environmental, engineering and manufacturing sectors are attracted to this region and are creating new, high-paying jobs due to the educated workforce, affordable housing, mild climate and transportation infrastructure . In addition, the local jurisdictional climate is favorable toward new development .

Merced Regional Airport has commercial commuter air service to the Los Angeles metropolitan areas and is home base for many private aircraft owners .

Merced is the home to the newest University of California campus, UC Merced, which, due to its resounding success, inspired First Lady Michelle Obama to give the first commencement address for the university’s first graduating class on May 16, 2009 . The address marked her first public appearance as First Lady .

The immediate success and impact of the university is a reflection of the optimism and tenacity of the Merced county and city officials and community visionaries who encouraged and built the University of California at Merced in order to invest in and enhance the future of the entire Central Valley region .

Location Highlights■■ Home to fast-growing University of California at Merced■■ Significant student/staff population growth anticipated through 2020 and

beyond■■ Region is attracting new businesses in medical, environmental, engineering and

manufacturing sectors■■ Close to Fresno, San Francisco, Monterey/Carmel, Yosemite■■ Area is served by Merced Regional Airport

Location Overview

MARKET OVERVIEW

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Stanislaus

Submarket HighlightsConstruction and employment growth in Stanislaus and Merced Coun-

ties will support a rise in apartment demand . Two projects will support em-ployment growth within the submarket . A 1 million-square foot Amazon dis-tribution facility is under construction in Patterson . Once completed in the fall, Amazon will create a few hundred to 1,000 local jobs . Another project is the highly anticipated California High-Speed Rail connecting Los Angeles to San Francisco is expected to be completed by 2022 . The Merced to Fresno sec-tion will begin construction at the end of 2013, creating thousands of ongoing jobs for the next five years . In addition to construction, the high-speed rail will create positions to operate the railway as well as jobs for suppliers and busi-nesses along the rail . Employment growth over a variety of sectors will drive demand for all property tiers, giving operators leverage to raise effective rents .

Sales over the last 12 months are outpacing the previous period and trans-action volume will accelerate in the coming months as banks unload reclaimed assets . Value-add plays and larger properties, are highly sought-after in the submarket as investors move inland to capture higher initial yields . Competi-tion for these assets will remain high as they are becoming limited in more desirable areas of the state .

Market Facts Market U.S.784,332

0 .9%

246,248

1 .1%

$50,978

32

283,845

5 .8%

$819

313,859,562

0 .6%

118,872,682

0 .8%

$53,535

37

142,759,607

4 .9%

$1,526

Population

Avg . Annual Five-Year Chg .*

Total Households

Avg . Annual Five-Year HH Chg .*

Median Household Income

Median Age

Employment

Vacancy Rate (2Q13)

Avg . Asking Rent (2Q13)

* 2012-2017 Forecast

MARKET OVERVIEW

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20

Stanislaus

Vacancy Trends

■Steady demand for apartments across the two counties has contributed to vacancy compressing to 5 .8 percent, a 20-basis point decline over the last 12-month period .

■ Vacancy in Merced County realized the most improvement over the last four quar-ters, falling 110 basis points to 5 .6 percent . In Stanislaus County, vacancy dipped 20 basis points to 5 .8 percent .

■ By year end, vacancy in the two-county region will fall 40 basis points year over year to 5 .3 percent . Vacancy in Stanislaus County will decrease 60 basis points to 5 .4 percent year over year, while in Merced County, vacancy will rise 100 basis points to a relatively low 5 percent .

Rent Trends

■Tight conditions across the area have allowed owners to lift rents during the last year . Rents ticked up 2 .5 percent during the 12-month period to $819 per month .

■ In Stanislaus County, rents are highest, rising 2 .4 percent in the last four quarters to $823 per month . Effective rents in Merced county advanced by the same rate at 2 .4 percent to $794 per month .

■ Rents across the two counties will reach $825 per month by the end of 2012, a year-over-year hike of 2 .6 percent . In Stanislaus County, rents will rise 2 .5 percent to $828 per month while rents in Merced County will advance 2 .7 percent to $802 per month .

Sales Trends**

■Property trades accelerated 43 percent during the last 12 months . A majority of sales took place in Stanislaus County; however, deals in Merced County doubled from the last year .

■ Transactions among out of state buyers were primarily for larger units over the last 12 months, as one-third of transactions were for 51-plus-unit properties, while none of that size traded last year . Most large properties were located in the city of Modesto .

■ Cap rates are widespread and difficult to discern due to the limited number of sales in the last year . Investors can expect average first-year yields in the high-7 percent range .

Med

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Pri

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Sales Trends

$20

$35

$50

$65

$80

13**12111009

Vac

ancy

Rat

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Vacancy Trends

0%

2%

4%

6%

8%

StanislausCounty

MercedCounty

CombinedCounties

Eff

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Effective Rent Trends

$650

$700

$750

$800

$850

Stanislaus County

Merced County

Combined Counties

2011 2012 2013*

2011 2012 2013*

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Sales Trends

$20

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$65

$80

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Vac

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Rat

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Vacancy Trends

0%

2%

4%

6%

8%

StanislausCounty

MercedCounty

CombinedCounties

Eff

ectiv

e R

ent

($ p

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h)


$650

$700

$750

$800

$850

Stanislaus County

Merced County

Combined Counties

2011 2012 2013*

2011 2012 2013*

Med

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(tho

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Sales Trends

$20

$35

$50

$65

$80

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Vac

ancy

Rat

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Vacancy Trends

0%

2%

4%

6%

8%

StanislausCounty

MercedCounty

CombinedCounties

Eff

ectiv

e R

ent

($ p

er m

ont

h)


$650

$700

$750

$800

$850

Stanislaus County

Merced County

Combined Counties

2011 2012 2013*

2011 2012 2013*

*Forecast **Trailing 12-month periodSources: Marcus & Millichap Research Services, CoStar Group, Inc ., Real Facts

MARKET OVERVIEW

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Demographic Summary

Income 1 Mile 3 Miles 5 Miles$ 0 - $14,999 6.2% 10.6% 18.0%$ 15,000 - $24,999 6.7% 8.5% 14.3%$ 25,000 - $34,999 2.8% 8.2% 11.6%$ 35,000 - $49,999 5.9% 9.9% 12.2%$ 50,000 - $74,999 20.9% 22.1% 17.6%$ 75,000 - $99,999 17.5% 15.3% 10.7%$100,000 - $124,999 13.9% 10.2% 6.6%$125,000 - $149,999 8.5% 6.0% 3.3%$150,000 - $199,999 8.1% 4.5% 3.0%$200,000 - $249,999 3.4% 1.8% 1.1%$250,000 + 6.1% 2.9% 1.6%2013 Median Household Income $84,888 $62,968 $42,1272013 Per Capita Income $9,253 $28,271 $20,8752013 Average Household Income $117,200 $83,903 $61,296

Population 1 Mile 3 Miles 5 Miles2000 Population 505 15,708 57,7692010 Population 1,380 21,655 69,8252013 Population 1,408 22,373 72,3202018 Population 1,623 24,404 77,581

Households 1 Mile 3 Miles 5 Miles2000 Households 47 5,499 19,7472010 Households 93 7,031 23,0972013 Households 95 7,279 23,9962018 Households 116 7,995 25,7332013 Average Household Size 3 3 32013 Daytime Population 101 4,527 25,0212000 Median Housing Value $104,4432000 Owner Occupied Housing Units 86.67% 70.63% 48.58%2000 Renter Occupied Housing Units 11.30% 26.38% 46.23%2000 Vacant 2.04% 3.09% 5.04%2013 Owner Occupied Housing Units 74.93% 61.63% 44.31%2013 Renter Occupied Housing Units 25.07% 38.37% 55.69%2013 Vacant 1.84% 3.27% 5.96%2018 Owner Occupied Housing Units 74.03% 61.19% 44.53%2018 Renter Occupied Housing Units 25.97% 38.81% 55.47%2018 Vacant 1.82% 3.54% 6.23%

MARKET OVERVIEW

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Demographic Summary

PopulationIn 2013, the population in your selected geography was 72,320 . The population has changed by 25 .18% since 2000 . It is estimated that the population in your area will be 77,581 five years from now, which represents a change of 7 .27% from the current year . The current population is 49 .0% male and 50 .9% female . The median age of the population in your area is 30 .1 , compare this to the U .S . average which is 37 . The population density in your area is 1,190 .11 people per square mile .

Households There are currently 23,996 households in your selected geography . The number of households has changed by 21 .51% since 2000 . It is estimated that the number of households in your area will be 25,733 five years from now, which represents a change of 7 .23% from the current year . The average household size in your area is 2 .91 persons .

Income In 2013, the median household income for your selected geography is $42,127, compare this to the U .S . average which is currently $53,535 . The median household income for your area has changed by 38 .35% since 2000 . It is estimated that the median household income in your area will be $49,679 five years from now, which represents a change of 17 .92% from the current year .

The current year per capita income in your area is $20,875, compare this to the U .S . average, which is $28,888 . The current year average household income in your area is $61,296 , compare this to the U .S . average which is $75,373 .

Race and Ethnicity The current year racial makeup of your selected area is as follows: 56 .81% White, 5 .65% African American, 1 .54% Native American and 11 .23% Asian/Pacific Islander . Compare these to U .S . averages which are: 72 .20% White, 12 .65% African American, 0 .96% Native American and 5 .01% Asian/Pacific Islander .

People of Hispanic origin are counted independently of race . People of Hispanic origin make up 44 .46% of the current year population in your selected area . Compare this to the U .S . average of 16 .55% .

Housing The median housing value in your area was $104,443 in 2000, compare this to the U .S . average of $110,781 for the same year . In 2000, there were 10,105 owner occupied housing units in your area and there were 9,617 renter occupied housing units in your area . The median rent at the time was $437 .

Employment In 2013, there are 25,021 employees in your selected area, this is also known as the daytime population . The 2000 Census revealed that 52 .2% of employees are employed in white-collar occupations in this geography, and 47 .7% are employed in blue-collar occupations . In 2013, unemployment in this area is 8 .68% . In 2000, the median time traveled to work was 14 .8 minutes .

Geography: 5 Miles

Demographic data © 2012 by Experian/Applied Geographic Solutions.

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