PATTERSON INDUSTRIAL CENTER

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1 A CBRE NATIONAL PARTNERS INDUSTRIAL INVESTMENT OPPORTUNITY 9.6 ACRE INDUSTRIAL LAND DEVELOPMENT OPPORTUNITY DEVELOPMENT OPPORTUNITY TOTALING 9.6 ACRES IN PERRIS, CA STRATEGIC INLAND EMPIRE LOCATION WITH DIRECT I- ACCESS

2 THE OFFERING CBRE, Inc. is pleased to present the opportunity to acquire an 9.6 acre land site located in the Inland Empire. The property consists of four industrial zoned land parcels ranging from 1.38 acres to 3.96 acres. Demand continues to be strong for land sites in the Inland Empire given the very few vacant land parcels that remain. This is an ideal distribution location with proximity to Interstate and SR-60 as well as minutes from March AFB Inland Port. The site is located in the northern part of the City of Perris (unincorporated Riverside County) with excellent proximity to Interstate between the Ramona Expressway and Nuevo off ramps and is only 8.5 miles to the 60 freeway. This submarket has attracted quality tenants such as Wayfair, Deckers, Home Depot, Proctor & Gamble, Walgreens and Ross to name a few. With over 448 million square feet, the Inland Empire is one of the top investment markets in the country. The Inland Empire is comprised of San Bernardino and Riverside Counties and is located approximately one hour east of the Ports of Los Angeles and Long Beach. Over the last decade, the Inland Empire economy has ranked as one of the leading economies in the nation for population growth, job creation, construction and residential real estate. Strategic location right off the I- freeway with proximity to SR- 60, I-15 and SR-91 allowing potential users to access customers throughout the Inland Empire and Southern California basin. Unincorporated Riverside County location which is a competitive advantage over a location in the City of Perris with regards to developers fees and other project costs. High profile surrounding tenants and institutional owners. This strategic I- corridor location is a hotspot for Fortune 500 tenants and institutional investors/developers. Given the projected growth in population and employee base along the corridor, the potential industrial use at the subject site will have a very positive outlook. PRICING SUMMARY Asking Price: $2.5 Million Asking Price PLSF: $6.00 Address Harvill Avenue & Rider Avenue, Perris, CA Acreage 9.59 Net Acres Zoning Industrial Parcel Numbers , 026, 027, 028 HIGH PROFILE SURROUNDING TENANTS & INSTITUTIONAL OWNERS The dwindling supply of available land in the Inland Empire West is driving tenant demand for buildings in the Inland Empire East. This strategic I- corridor location is a hotspot for Fortune 500 tenants and institutional investors. The I- Corridor has experienced a tremendous expansion in its employment base and population. Moreno Valley /Perris is now home to companies such as Wayfair, Home Depot, Lowe s, Walgreens, Ross Stores, Whirlpool, General Mills and others. This growth has caught the attention of some of the top public homebuilders who are either building new subdivisions and/or acquiring land positions to fill their future pipeline. This type of activity should have a significant effect on the office and retail potential for the site. The following list of tenants can be found in the Moreno Valley/Perris submarket. America s Tire Deckers Outdoor Fallas General Mills Hanesbrands Harbor Freight Tools Home Depot iherb Kraft Foods Lowe s Minka Lighting Philips Electronic Procter & Gamble Ross Stores Sysco Foods Walgreen s Whirlpool 1

3 STRONG E-COMMERCE GROWTH Growing e-commerce activity is driving demand for larger warehouses which will benefit the Perris Land Sites. E-commerce sales are growing at more than five times the rate of traditional retail sales, and are expected to increase by 61% by 2016, with projected sales reaching $327 billion. By 2017, online sales are anticipated to account for more than one tenth of all U.S. retail sales. STRONG MARKET DYNAMICS The Inland Empire experienced strong growth in 2015 and through the first half of This steady demand is demonstrated by the decrease in vacancy to 3.7% in the second quarter of 2016 for the entire market. In Q2 2016, net absorption totaled 6.1 million square feet, and YTD net absorption totaled 9.2 million square feet. The Inland Empire Industrial market generated over 12.1 MSF of gross activity in Q2 2016, bringing the year-to-date total to 21.1 MSF. INCREASED USER ACTIVITY The size of the footprint and credit of tenants along the I- corridor bode well for absorption and prospective tenant interest in the Perris Land Sites. The desirable market conditions are demonstrated by the 50+ users in the market that have requirements for million square feet in the IE. STRATEGIC LOCATION The Perris Land Sites are strategically located off the I- in Perris with excellent freeway access. The dwindling supply of available, entitled, industrial zoned land in Moreno Valley, combined with increasing tenant demand, has pushed demand further south down the I- corridor. NOT A PART - IN ESCROW RIDER ST PATTERSON AVE HARVILL AVE EXECUTIVE SUMMARY 2

4 LOCAL MAP Van Buren Blvd Meridian Pkwy Cactus Ave March Air Reserve Base Kitching St Lasselle St Nason St Cactus Ave Meyer Dr John F Kennedy Dr John F Kennedy Dr Heacock St Indian St Iris Ave Perris Blvd Iris Ave Oliver St Moreno Beach Dr Krameria Ave Lasselle St Harley Knox Blvd Harvill Ave Ramona Expy Evans Rd Ramona Expy Indian Ave N Perris Blvd E Rider St Redlands Ave E Nuevo Rd 3

5 REGIONAL MAP EXECUTIVE SUMMARY 4

6 PARCEL MAP NOT A PART - IN ESCROW 5

7 SITE PLAN - MULTIPLE BUILDINGS OPTION NOT A PART - IN ESCROW EXECUTIVE SUMMARY 6

8 SITE PLAN - SINGLE BUILDING OPTION S I T E L E G E N D : DOCK HIGH TRUCK DOOR GRADE LEVEL TRUCK DOOR This conceptual design is based upon a preliminary review of entitlement requirements and on unverified and possibly incomplete site and/or building information, and is intended merely to assist in exploring how the project might be developed. 1" =40' NORTH scheme: 01a Proposed Industrial Building IRV SHEET Harville & Rider, Perris (Riverside County) 1 7

9 CAPITAL MARKETS EXPERTS DARLA LONGO Vice Chairman/Managing Director Lic BARBARA EMMONS Vice Chairman Lic REBECCA PERLMUTTER, CFA Vice President Lic MICHAEL KENDALL Senior Vice President Lic NATIONAL PARTNERS WEST DARLA LONGO BARBARA EMMONS BRETT HARTZELL LOCAL MARKET EXPERT Dan de la Paz, SIOR Senior Vice President Lic CBRE T dan.delapaz@cbre.com REBECCA PERLMUTTER FINKEL MIKE KENDALL TAYLOR ODEGARD GINA CHRISTEN NORTHEAST Michael D. Hines Brian Fiumara Brad Ruppel Lauren Dawicki SOUTHEAST Chris Riley Frank Fallon Jennifer Klingler SOUTH CENTRAL Jack Fraker Jonathan Bryan Heather McClain Ryan Thornton NORTH CENTRAL Mike Caprile Ted Staszak Stephanie Park Kate Dougherty WEST Darla Longo Barbara Emmons Brett Hartzell Rebecca Perlmutter Mike Kendall Taylor Odegard Gina Christen DEBT & STRUCTURED FINANCE Val Achtemeier Steve Roth Steve Kundert Sharon Wortmann Scott Lewis Offering integrated real estate capital markets solutions from strategy to execution delivered by a seamless national partnership 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.