RANCHO CUCAMONGA BUSINESS PARK - The Hoffman Company · 7.93 ACRES Rancho Cucamonga, CA VD VE VE...
Transcript of 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
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
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2-3
4-5
6-7
8-9
Table of Contents
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1Property Overview
RANCHO CUCAMONGA7.93 ACRES The
Hoffman
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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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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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2Aerials, Maps & Photos
RANCHO CUCAMONGA7.93 ACRES
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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2Aerials, Maps & Photos
RANCHO CUCAMONGA7.93 ACRES
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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2Aerials, Maps & Photos
RANCHO CUCAMONGA7.93 ACRES
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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2Aerials, Maps & Photos
RANCHO CUCAMONGA7.93 ACRES
Assessor’s Parcel Map
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2Aerials, Maps & Photos
RANCHO CUCAMONGA7.93 ACRES
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 CUCAMONGA7.93 ACRES
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 CUCAMONGA7.93 ACRES
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
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OFFERING MEMORANDUM
3Area Overview
RANCHO CUCAMONGA7.93 ACRES
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
Rancho Cucamonga, CA
Tel: (909) 980-0969
CUCAMONGA SCHOOL DISTRICT
Chaffey HIGH SCHOOL | 9-12
1245 N Euclid Ave
Rancho Cucamonga, CA
Tel: (909) 988-5560
CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT
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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
RANCHO CUCAMONGA7.93 ACRES
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 CUCAMONGA7.93 ACRES
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
RANCHO CUCAMONGA7.93 ACRES
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
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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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RANCHO CUCAMONGA7.93 ACRES
Apartment Rent Summary Chart
Rent Comparables Summary8200 Haven Ave
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
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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
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Numbers on Map correspond to chart on following page.
Verano at Rancho Cucamonga Town Square Rent Comps
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RANCHO CUCAMONGA7.93 ACRES
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
Owner: Lewis Group of CompaniesRent/SF $2.04, Vacancy 2.3%
2Homecoming at Terra11660 Church St868 Units / 2 Stories
Owner: Lewis Group of CompaniesRent/SF $2.05, Vacancy 3.0%
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
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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
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4Market Overview
RANCHO CUCAMONGA7.93 ACRES
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
Owner: Lewis Group of CompaniesRent/SF $1.92, Vacancy 2.7%
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
8/16/2017Copyrighted report licensed to The Hoffman Company - 854708.
Page 10
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
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Page 7
OFFERING MEMORANDUM
20\ \The
Hoffman
Company
4Market Overview
RANCHO CUCAMONGA7.93 ACRES
Construction Summary
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
Construction Summary8200 Haven Ave
CONSTRUCTION DELIVERIES IN UNITS
CONSTRUCTION STARTS IN UNITS
8/16/2017Copyrighted report licensed to The Hoffman Company - 854708.
Page 57
Construction Summary8200 Haven Ave
CONSTRUCTION DELIVERIES IN UNITS
CONSTRUCTION STARTS IN UNITS
8/16/2017Copyrighted report licensed to The Hoffman Company - 854708.
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