THE HOAN OANY - LoopNet...2.7% 2017 Y-O-Y Avg. Daily Rate: 3.1% COACHELLA VALLEY MULTI-FAMILY QUICK...
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VARNER RD DATE PALM DR TRIBAL TRIBAL SIGNIFICANTLY FRACTURED OWNERSHIP WORKMAN MIDDLE SCHOOL PALM SPRINGS INTERNATIONAL AIRPORT PALM SPRINGS CATHEDRAL CITY FUTURE STORM WATER RETENTION BASIN RANCHO MIRAGE CITY LIMITS COMING 2017 » PRIME DEVELOPABLE INTERCHANGE-ADJACENT PROJECT IN COACHELLA VALLEY » POTENTIAL CANNABIS » RARE APPROVALS IN SUPPLY CONSTRAINED WEST COACHELLA VALLEY • NO DRAINAGE CONTRAINTS • NO MSHCP ISSUES • $4M OF ENTITLEMENT COST SPENT » FHA MORTGAGE PRICE BAND PRODUCT POTENTIAL | AFFORDABLE PRODUCT NEAR PALM SPRINGS 10 D A T E P A L M D R 1 MILE FREEWAY FRONTAGE LOS ANGELES 90 MILES 2 MILES PALM SPRINGS N.A.P 186,000 TRAFFIC COUNT PER DAY TRIBAL PHASE 2 476 ACRES Hotel/Commercial/MF/Residential Office/Business Park/Cannabis Tribal PHASE 1 15 ACRES Gas/Cannabis/Commercial SOLD OUT OPENED 2018 BIRD’S EYE ILLUSTRATIVE VIEW PRIME C O M M E RCIAL TRIBAL TRIBAL TRIBAL 10 SUBJECT SITE “Valley Center Masterplan” is the largest fee land property with a single ownership located along I-10, on one of the most traveled interchanges in the Coachella Valley (Date Palm Drive). The Valley Center project seeks to enhance and expand values along the I-10 corridor with new residential, resort, commercial, retail, business park, and entertainment uses. Thoughtful planning will accommodate much of the anticipated commercial growth, promote an expanded idea of community and entertainment, and introduce new types of housing product to the region. The design and planning of Valley Center blends a hillside resort development with natural landforms leaving ridgelines untouched, promoting scenic views, and respecting environmentally sensitive areas. Community amenities will include ample public parks and open space, recreation facilities, a public square, and miles of nature, bicycle and discovery trails. PRICE REDUCED COACHELLA VALLEY TOURISM & HOSPITALITY QUICK FACTS 2017 Visitors 13.6 Million Spent $5.5 Billion Economic Impact $7 Billion (9% Increase Over Year 2015) Industry Jobs 51,866 (1,200 Increase Since 2010) 2017 Y-O-Y Hotel Occupancy 2.7% 2017 Y-O-Y Avg. Daily Rate: 3.1% COACHELLA VALLEY MULTI-FAMILY QUICK FACTS Vacancy Rate 2.6% (lowest vacancy rate of any submarket in IE) Vacancy Y-O-Y -100 Basis Point Change (largest decrease of any submarket in IE) RENTS Y-O-Y: 3.7% Avg. Increase INLAND EMPIRE EAST RETAIL QUICK FACTS Vacancy Rate 8.9% Vacancy Y-O-Y -10 Basis Point Change RENTS Y-O-Y: 3.3% Avg. Increase Sources: Bureau of Labor Statistics; CoStar Group, Inc.; Experian; Moody’s Analytics; Real Capital Analytics; TWR/Dodge Pipeline; U.S. Census Bureau, Economic Tourism, Greater Palm Springs Convention & Visitors Bureau, CVB, Desert Sun, Matador Network 491 TOTAL ACRES | PHASE 1: 15 ACRES | PHASE 2: 476 ACRES MIXED USE MASTERPLAN | 2,979 RESIDENTIAL & MF UNITS 100 COMMERCIAL ACRES (4M SQ. FT.) | POTENTIAL CANNABIS | FEE LAND I-10 & DATE PALM INTERCHANGE | CATHEDRAL CITY, CA | COACHELLA VALLEY VALLEY CENTER BROKER CONTACT Erik Christianson CA BRE #01475105 C (949) 910-7337 | T (949) 705-0920 echristianson@hoffmanland.com PROPERTY DETAILS PROPERTY & CATHEDRAL CITY OVERVIEW MARKET Coachella Valley REGION Coachella Valley, Riverside County INTERSECTION NEC I-10 & Date Palm Drive Interchange (Varner Road Bisects Property) AREA LANDMARKS Cimarron Golf Course & Agua Caliente Resort Casino PROPERTY SIZE 491 Acres total acres | Phase 1: 15 Acres | Phase 2: 476 Acres RESIDENTIAL LAND USE 2,181 Residential Homes & 798 MF Units (2,979 Total Units on 299 Acres) OTHER USES 100 Commercial & Entertainment Acres (±4M Sq Ft) | Potential Cannabis RESIDENTIAL DENSITY Ranges From 2DU/Acre to 18DU/Acre (up to 45 DU/Acre per Specific Plan) BUILDING HEIGHT Up to 5 Stories (up to 125 feet allowable per Specific Plan) ZONING Mixed Use Urban (MU-U) & aMixed Use Neighborhood (MU-N) ENTITLEMENTS Approved EIR & Specific Plan SITE CONDITION Unimproved (Water & Power to site, sewer to be extended to site or septic.) OFFER DEADLINE Offers to be considered and responded to as submitted. PROPERTY DOCUMENTS Request from Broker. CATHEDRAL CITY QUICK FACTS Home Price Last 12 Months (re-sale + new) 10% Cars Per Day (I-10 & Date Palm) 186,000 COACHELLA VALLEY OFFICE: 777 E Tahquitz Canyon Way, Suite 200, Palm Springs, CA 92262 | T (760) 969-7357 THE HOFFMAN COMPANY
Transcript of THE HOAN OANY - LoopNet...2.7% 2017 Y-O-Y Avg. Daily Rate: 3.1% COACHELLA VALLEY MULTI-FAMILY QUICK...
VARNER RD
DATE PALM DRTRIBAL
TRIBAL
SIGNIFICANTLY FRACTURED OWNERSHIP
WORKMANMIDDLE SCHOOL
PALM SPRINGS INTERNATIONAL AIRPORT
PALM SPRINGS
CATHEDRAL CITY
FUTURE STORMWATER
RETENTION BASIN
RANCHO MIRAGE CITY LIMITS
COMING 2017
» PRIME DEVELOPABLE INTERCHANGE-ADJACENT PROJECT IN COACHELLA VALLEY
» POTENTIAL CANNABIS
» RARE APPROVALS IN SUPPLY CONSTRAINED WEST COACHELLA VALLEY • NO DRAINAGE CONTRAINTS • NO MSHCP ISSUES • $4M OF ENTITLEMENT COST SPENT
» FHA MORTGAGE PRICE BAND PRODUCT POTENTIAL | AFFORDABLE PRODUCT NEAR PALM SPRINGS
10
DATE PALM DR
1 MILE FREEWAY FRONTAGE
LOS ANGELES90 MILES
2 MILES PALM SPRINGSN.A.P
186,000TRAFFIC COUNT PER DAY
TRIBAL
PHASE 2476 ACRES
Hotel/Commercial/MF/ResidentialOffice/Business Park/Cannabis
Tribal
PHASE 115 ACRES
Gas/Cannabis/Commercial
SOLD OUTOPENED 2018
BIRD’S EYE ILLUSTRATIVE VIEWPRIME COMMERCIAL
TRIBAL
TRIBAL
TRIBAL
10
SUBJECT SITE
“Valley Center Masterplan” is the largest fee land property with a single ownership located along I-10, on one of the most traveled interchanges in the Coachella Valley (Date Palm Drive). The Valley Center project seeks to enhance and expand values along the I-10 corridor with new residential, resort, commercial, retail, business park, and entertainment uses. Thoughtful planning will accommodate much of the anticipated commercial growth, promote an expanded idea of community and entertainment, and introduce new types of housing product to the region. The design and planning of Valley Center blends a hillside resort development with natural landforms leaving ridgelines untouched, promoting scenic views, and respecting environmentally sensitive areas. Community amenities will include ample public parks and open space, recreation facilities, a public square, and miles of nature, bicycle and discovery trails.
PRICE REDUCED
COACHELLA VALLEY TOURISM & HOSPITALITY QUICK FACTS
2017 Visitors 13.6 Million Spent $5.5 BillionEconomic Impact $7 Billion (9% Increase Over Year 2015)Industry Jobs 51,866 (1,200 Increase Since 2010)
2017 Y-O-Y Hotel Occupancy2.7%
2017 Y-O-Y Avg. Daily Rate: 3.1%
COACHELLA VALLEYMULTI-FAMILY QUICK FACTS
Vacancy Rate2.6%
(lowest vacancy rate of any submarket in IE)
Vacancy Y-O-Y-100 Basis
Point Change (largest decrease of any
submarket in IE)
RENTS Y-O-Y: 3.7% Avg. Increase
INLAND EMPIRE EAST RETAIL QUICK FACTS
Vacancy Rate8.9%
Vacancy Y-O-Y-10 Basis
Point Change
RENTS Y-O-Y: 3.3% Avg. Increase
Sources: Bureau of Labor Statistics; CoStar Group, Inc.; Experian; Moody’s Analytics; Real Capital Analytics; TWR/Dodge Pipeline; U.S. Census Bureau, Economic Tourism, Greater Palm Springs Convention & Visitors Bureau, CVB, Desert Sun, Matador Network
491 TOTAL ACRES | PHASE 1: 15 ACRES | PHASE 2: 476 ACRESMIXED USE MASTERPLAN | 2,979 RESIDENTIAL & MF UNITS100 COMMERCIAL ACRES (4M SQ. FT.) | POTENTIAL CANNABIS | FEE LANDI-10 & DATE PALM INTERCHANGE | CATHEDRAL CITY, CA | COACHELLA VALLEY
VALLEY CENTERBROKER CONTAC T
Erik ChristiansonCA BRE #01475105C (949) 910-7337 | T (949) [email protected]
PROPERT Y DETAILS
PROPERT Y & C ATHEDRAL CIT Y OVERVIEW
MARKET Coachella ValleyREGION Coachella Valley, Riverside CountyINTERSECTION NEC I-10 & Date Palm Drive Interchange (Varner Road Bisects Property)AREA LANDMARKS Cimarron Golf Course & Agua Caliente Resort CasinoPROPERTY SIZE 491 Acres total acres | Phase 1: 15 Acres | Phase 2: 476 AcresRESIDENTIAL LAND USE 2,181 Residential Homes & 798 MF Units (2,979 Total Units on 299 Acres)OTHER USES 100 Commercial & Entertainment Acres (±4M Sq Ft) | Potential CannabisRESIDENTIAL DENSITY Ranges From 2DU/Acre to 18DU/Acre (up to 45 DU/Acre per Specific Plan)BUILDING HEIGHT Up to 5 Stories (up to 125 feet allowable per Specific Plan)ZONING Mixed Use Urban (MU-U) & aMixed Use Neighborhood (MU-N)ENTITLEMENTS Approved EIR & Specific PlanSITE CONDITION Unimproved (Water & Power to site, sewer to be extended to site or septic.)OFFER DEADLINE Offers to be considered and responded to as submitted. PROPERTY DOCUMENTS Request from Broker.
C AT H E D R A L C I T Y Q U I C K FAC T SHome Price Last 12 Months(re-sale + new) 10%
Cars Per Day(I-10 & Date Palm) 186,000
COACHELLA VALLEY OFFICE: 777 E Tahquitz Canyon Way, Suite 200, Palm Springs, CA 92262 | T (760) 969-7357
T H E H O F F M A N C O M P A N Y
