Mission Ridge Plaza Manteca, CA

Transcription

1 Mission Ridge Plaza Manteca, CA NAP 3990 Westerly Place, Suite 200 Newport Beach, CA Tel Fax

2 The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of Mission Ridge Plaza and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of REZA Investment Group Inc. or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Property Owner ( Owner ) in connection with the sale of the Property is REZA Investment Group Inc., and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to REZA Investment Group Inc. Neither REZA Investment Group Inc. nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by REZA Investment Group with respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, REZA Investment Group Inc. and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or REZA Investment Group Inc., nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and REZA Investment Group Inc. from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. Pursuant to the Exclusive Listing Agreement provided by Owner to REZA Investment Group Inc. (Broker) and the specified conditions therein, there are no brokerage commissions, finder s fees, or other compensation in connection with sale of the subject Property to any other broker or third party. Any third party broker shall only look to Buyer for any fees. 2

3 Table of Contents Executive Summary Property Overview Offering Highlights Property Data Tenancy Key Demographic Information Property Highlights & Area Overview Site Plan Tenant Profiles Location Map Overview Financial Analysis Assumptions Rent Roll 10 Year Cash Flow Appendix Demographics Parcel Map 3

4 Mission Ridge Plaza Manteca, CA Executive Summary

5 Property Overview Mission Ridge Plaza is a grocery anchored community shopping center located in Manteca, CA. 96,657 square feet of the 196,298 square feet is included in the offering. The property is prominently located at the northwest corner of Highway 120 and Main Street. Investment highlights of this property include: Manteca s population base has increased by more than 17% over the past five years and is projected to continue to experience longterm growth. Centrally positioned and considered an extension of both the Bay Area and the Sacramento markets, Manteca s close proximity to the high growth cities of Stockton and Modesto position the city directly in the path of growth. High profile anchor tenants include Pak n Save (Safeway), WalMart (NAP), Mervyns (NAP) and Big 5 Sporting Goods. 89% of gross leasable area is derived from national and regional retailers. Prominent location with frontage along the Highway 120 Freeway. The intersection of the Highway 120 Freeway and Main Street has long been considered the premier intersection in the city of Manteca and receives average daily traffic counts of 114,000 vehicles. The comprehensive mix of necessity retailers including Pak n Save grocery store, which generates strong sales revenues, and WalMart and Mervyns, significantly increase the draw to the property. These tenants attract consumers from a more expansive trade area. NAP NAP The property is unencumbered by debt, allowing an investor to place new financing on the property. The offering includes two separate parcels on approximately 7.03 acres. This provides flexibility in the event an investor elects to spin off a portion of the center in the future. Main Street NAP Mission Ridge Drive 5

6 Offering Highlights Price: Submit Offer AsIs NOI: $1,333,392 Pro Forma NOI: $1,488,393 Building Size Total: Financing: Property Data Address: 96,657 sq. ft. included in the offering Buyer to pay all cash or cash to new loan 1043 S. Main Street Manteca, CA Assessor s Parcel Number: ; 46 Number of Buildings: 2 Land Size: Ingress/Egress: 8 Traffic Counts: Approx Acres 30,900 AADT Main Street at Mission Ridge Drive Tenancy Major Tenants Sq. Ft. % of Project Expiration Dates Pak n Save 58, % Jan 2013 Big 5 Sporting Goods 10, % Jan 2018 Family Christian Stores 4, % Feb 2010 Payless ShoeSource 3, % MTM Styles for Less 2, % Sep 2011 GNC 1, % Sep 2010 Sally Beauty 1, % Jan 2014 H&R Block 1, % Apr 2013 Cost U Less 1, % Dec 2009 The UPS Store 1, % May 2013 Other tenants 4, % Vacant 7, % Total Sq. Ft. Included in Offering: 96, % Key Demographic Information Trade Area Profile Statistics 1Mile 3Mile 5Mile 2000 Population 11,854 51,784 66, Population 13,585 61,007 80, Population 15,230 66,225 88,060 % Change in Population % 14.81% 18.95% % Change in Population % 17.81% 21.89% % Change in Population % 8.55% 8.89% Source: MapInfo Corporation 6

7 Mission Ridge Plaza Manteca, CA Property Highlights & Area Overview

8 l Site Plan r e s r e k a e w e J a M v a J Style for Less Salon Cost U Less M i s s i o n R i d g e D r i e v N a i l s F a m i l y C h r i s t i a n C e n t e r n R n R a a x c r. r. e s t e s t i l i NAP NAP H w y a I t M e NAP NAP 1135 NAP NAP S o c i a l S e c u r i t y A d m i n. NAP Vacant Main Street 8

9 Tenant Profiles Logo Tenant Name Walmart (NAP) No. of Locations 7,250 Mervyns (NAP) 177 Pak N Save Big 5 Sporting Goods NA 369 Denny s (NAP) 1,500 Family Christian Stores Payless ShoeSource Jack in the Box (NAP) 300 4,500 2,100 Styles for Less 102 Use Website Sales Capitalization WalMart is the world s #1 retailer, with more than 7,250 stores, including about 975 discount stores, 2,800 combination discount and grocery stores (WalMart Supercenters in the US and ASDA in the UK), and 590 warehouse stores (SAM S CLUB). Mervyns is a department store offering clothes to customers at reasonable prices. Pak n Save is part of Safeway, one of the largest food and drug retailers in the U.S. The company sells brandname equipment and clothing for indoor and outdoor activities including camping, hunting, fishing, tennis, golf, snowboarding, and more. Denny s is the leading fullservice, familystyle restaurant chain in the US and is open 24 hours a day, seven days a week. Family Christian Stores is a leading specialty retailer with over 300 locations and over 5,000 employees in 37 states dedicated solely to the $4.3 billion Christian retailing market. Payless is the largest specialty family footwear retailer in the Western Hemisphere. The company is a subsidiary of Collective Brands. Jack in the Box offers such standard fastfood fare as burgers, fries, and soft drinks, as well as salads, tacos, and breakfast items. Styles for Less offers the most current brand names in club wear, sport wear, clothes for school, accessories, and shoes. $ Billion NYSE: WMT; $ Billion NA Private com NA $898.3 Million $939.4 Million NYSE: SWY; $11.84 Billion NASDAQ (GS): BGFV; $ Million NASDAQ (CM): DENN; $ Million $360.3 Million Private $3.04 Billion $2.88 Billion NYSE: PSS; $ Billion NYSE: JBX; $1.35 Billion $68.2 Million Private 9

10 Tenant Profiles (cont d) Logo Tenant Name No. of Locations GNC 7,236 Use Website Sales Capitalization GNC is the leading nutritionalsupplements retail chain devoted solely to items such as vitamins and dietary products. $1.49 Billion Private Sally Beauty 3,500 Sally Beauty is one of the largest retailers and distributors of professional beauty supplies in the U.S. $2.51 Billion NYSE: SBH; $1.36 Billion H&R Block 13,000 H&R Block is the leading tax return preparer in the US. $4.40 Billion Cost U Less 80 Cost U Less Insurance Center is one of the largest and fastest growing insurance brokers in California. NYSE: HRB; $7.98 Billion $222 Million Private The UPS Store 5,900 UPS is the world s largest packagedelivery company. $137.7 Million NYSE: UPS; $65.38 Billion 10

11 Location Map Mission Ridge Plaza 11

12 Overview Incorporated in 1918, the City of Manteca is situated in the San Joaquin Valley (part of California s Great Central Valley). It is located 76 miles east of San Francisco and is about midway between Stockton and Modesto on State Highway 99. The 120 Bypass connects Interstate 5 and Highway 99. Manteca s strategic location links the San Francisco Bay Area, the Sierra Nevada and foothills, and California s Central Valley to two of the three major northsouth transportation routes on the West Coast. Manteca s location allows it to attract qualified labor with diverse and varying levels of skills from high tech to general labor, management and professional occupations. The labor force numbers over onehalf million within a 30minute drive of Manteca. Results from the Altamont Pass Commuter Survey (October, 2000) indicate that 75% of the workforce commuting from the Central Valley to the San Francisco Bay Area originate from this same 30minute area around Manteca, with 13% originating in Manteca. Manteca is surrounded by rich agricultural lands. Although industries based on agriculture are still very important to the City s economy, electronic firms are now among the principal employers in Manteca. These firms are generally located in the City s developed industrial park, in the southeastern quadrant of Manteca. Demographic Profile for the City of Manteca Population Households 2000 Total 49,258 16, Total 57,967 19, Total 62,575 21,323 % Change % 16.70% % Change % 18.85% % Change % 9.61% Average Household Income Income 2000 Average Household Income $54, Average Household Income $63, Average Household Income $69,809 Airports Airport Passengers per day Sacramento International Airport 28,493 Traffic Freeway AADT Highway 120 at Main Street 114,000 Employment by Occupation Occupation Percentage Sales/Office 27.99% Management/Professional/Related 24.69% Office/Administrative Support 18.08% Production/Transp/Material Moving 17.39% Service Occupation 15.25% Professional/Related 15.15% Construction/Extraction/Maint 13.04% Sales/Related Occupations 9.91% Sources: MapInfo Corporation, City of Manteca, California Department of Transportation 12

13 Mission Ridge Plaza Manteca, CA Financial Analysis

14 Assumptions Analysis Period Commencement Date July 2008 Term 10 Years Area Measures Building Square Feet 96,657 (included in the offering) Inflation Rates General 3% Annually Operating Expenses All Operating Expenses have been taken from the 2007 Income and Expense statements with management set at 3% of the Effective Gross Revenue inflated at annual 3% increases. (Note: Taxes have not been adjusted for sale. See Rent Roll for tenants with Proposition 13 protection.) Leasing Assumptions Lease Retention Ratio 75% Rent Adjustments Annual 3% Inc. Downtime 6 months (which equates to 2 months vacant) Rent Abatement None Reimbursement Method* NNN 15% Admin CTI Lease Term 5 Years Tenant Improvements $10/$0SF (New/Renewal) Leasing Commissions 4%/2% Rent (New/Renewal) *NNN 15% Admin CTI Tenants pay their respective prorata share of operating expenses as well as a 15% admin fee, which is charged to cam, taxes and insurance. Capital Reserve A capital reserve of $.10/SF has been incorporated into the model. General Vacancy Loss Year 1 is current occupancy. Years 210 are at 3% of the potential gross revenue excluding (Pak N Save, Big 5 Sporting Goods, Payless ShoeSource, Denny s NAP, Mervyn s NAP, Jack in the Box NAP, Rosie Blawat NAP, Social Security NAP). Renewals Several tenants have options to renew within their initial lease period. For tenants with options, their option terms have been applied once the tenant s primary term ends. The speculative renewal is applied at the termination of all tenants primary and option terms (if applicable). If a tenant expires in year one of the analysis period with no options, the lease is modeled to extend to to end of first year, then to market rates. 14

15 Rent Roll Tenant Name Type & Suite Number Lease Dates & Term Floor SqFt Bldg Share Rate & Amount per Year per Month Changes on Changes to Description of Operating Expense Reimbursements Sales Breakpoint Overage % Assumption about subsequent terms for this tenant 1 Big 5 Sporting Goods Retail, Suite: Oct1992 to Jan Months NATL 10, % $16.50 $165,000 $1.38 $13,750 Feb2013 $18.00 See method: Big 5 Natural 3.00% Option MLA $18 Notes: Tenant has prop. 13 protection, cannot increase taxes upon sale 1 Big 5 Sporting Goods Option, Suite: Feb2018 to Jan Months NATL 10, % $19.50 $195,000 $1.63 $16,250 Feb2023 Feb2028 Feb2033 $21.00 $22.50 $24.00 See method: Big 5 Natural 3.00% MLA $18 Notes: Tenant has 45 Yr options at the rates above 2 Family Christian Stores Retail, Suite: Feb2000 to Feb Months NATL 4, % $15.16 $67,250 $1.26 $5,604 Apr2009 $15.92 See method: Family Christian Option MLA $18 Notes: Tenant has prop. 13 protection, can only increase taxes once every five years 2 Family Christian Stores Option, Suite: Mar2010 to Feb Months NATL 4, % $16.72 $74,164 $1.39 $6,180 Mar2012 Mar2014 $17.56 $18.44 See method: Family Christian MLA $18 Notes: Tenant has 15 Yr option at the rates above 3 Available Retail, Suite: Jul2009 to Jun Months 4, % $18.00 $81,702 $1.50 $6,809 Jul2010 Jul2011 Jul2012 Jul2013 $18.54 $19.10 $19.67 $ % Admin CTI MLA $18 4 A Plus Nails Retail, Suite: Sep2003 to Jun Months LOCAL % $28.39 $23,844 $2.37 $1,987 15% Admin CTI Natural 10.00% MLA $27 Notes: Tenant is month to month, kept in run until end of 1st year then to market. 5 H&R Block Retail, Suite: May2005 to Apr Months 1, % $27.00 $32,400 $2.25 $2,700 May2009 May2010 May2011 May2012 $28.08 $29.20 $30.37 $ % Admin CTI MLA $24 15

16 Rent Roll (cont d) Tenant Name Type & Suite Number Lease Dates & Term Floor SqFt Bldg Share Rate & Amount per Year per Month Changes on Changes to Description of Operating Expense Reimbursements Sales Breakpoint Overage % Assumption about subsequent terms for this tenant 6 Payless ShoeSource Retail, Suite: Dec2002 to Jul Months NATL 3, % $23.95 $71,856 $2.00 $5,988 See method: Payless Shoes Natural 5.00% MLA $24 Notes: Payless Shoesource is Month to Month. 7 Available Retail, Suite: Jul2009 to Jun Months 2, % $24.00 $51,336 $2.00 $4,278 Jul2010 Jul2011 Jul2012 Jul2013 $24.72 $25.46 $26.23 $ % Admin CTI MLA $24 8 Available Retail, Suite: Jul2009 to Jun Months 1, % $24.00 $27,696 $2.00 $2,308 Jul2010 Jul2011 Jul2012 Jul2013 $24.72 $25.46 $26.23 $ % Admin CTI MLA $24 9 Cost U Less Retail, Suite: Jan2007 to Dec Months 1, % $29.20 $31,537 $2.43 $2,628 Feb2009 $ % Admin CI Option MLA $24 9 Cost U Less Option, Suite: Jan2010 to Dec Months 1, % $31.58 $34,112 $2.63 $2,843 Jan2011 Jan2012 $32.85 $ % Admin CI MLA $24 10 Allure Salon Retail, Suite: Feb2006 to Jan Months 1, % $22.28 $33,418 $1.86 $2,785 Feb2009 Feb2010 Feb2011 Feb2012 Feb2013 Feb2014 Feb2015 $22.95 $23.64 $24.34 $25.08 $25.83 $26.60 $ % Admin CTI Option MLA $24 10 Allure Salon Option, Suite: Feb2016 to Jan Months LOCAL 1, % $28.50 $42,744 $2.37 $3,562 Feb2017 Feb2018 Feb2019 Feb2020 $29.64 $30.82 $32.05 $ % Admin CTI MLA $24 Notes: Tenant has 15 Yr option at the rates above 16

17 Rent Roll (cont d) Tenant Name Type & Suite Number Lease Dates & Term Floor SqFt Bldg Share Rate & Amount per Year per Month Changes on Changes to Description of Operating Expense Reimbursements Sales Breakpoint Overage % Assumption about subsequent terms for this tenant 11 Styles for Less Retail, Suite: Aug2005 to Sep Months 2, % $24.00 $59,040 $2.00 $4,920 Sep2008 Sep2009 Sep2010 $24.95 $25.95 $ % Admin CTI Natural 5.00% MLA $24 12 Java Makers Coffee Co. Retail, Suite: Nov2003 to Sep Months 1, % $36.00 $42,264 $3.00 $3,522 Sep2008 Sep2009 Sep2010 Sep2011 Sep2012 $37.44 $38.94 $40.50 $42.11 $ % Admin CTI Natural 3.00% MLA $33 13 Sally Beauty Retail, Suite: Feb2004 to Jan Months 1, % $19.76 $27,660 $1.65 $2,305 Jan2010 $ % Admin C no mgmt $1,038, % MLA $27 14 General Nutrition Center Retail, Suite: Oct2005 to Sep Months 1, % $25.50 $39,276 $2.13 $3,273 10% Admin CTI Natural 5.00% MLA $27 15 New York Diamonds Retail, Suite: Feb2004 to Jan Months 1, % $31.41 $32,976 $2.62 $2,748 15% Admin CTI no mgmt Natural 3.00% Option MLA $27 15 New York Diamonds Option, Suite: Feb2009 to Jan Months 1, % $32.97 $34,619 $2.75 $2,885 Feb2010 Feb2011 Feb2012 Feb2013 $34.62 $36.34 $38.16 $ % Admin CTI no mgmt Natural 3.00% MLA $27 Notes: Tenant has 15 Yr option at the rates above 16 UPS Store Retail, Suite: Jun2003 to May Months 1, % $28.68 $30,257 $2.39 $2,521 Jun2009 Jun2010 Jun2011 Jun2012 $29.83 $31.02 $32.26 $ % Admin CTI MLA $27 17

18 Rent Roll (cont d) Tenant Name Type & Suite Number Lease Dates & Term Floor SqFt Bldg Share Rate & Amount per Year per Month Changes on Changes to Description of Operating Expense Reimbursements Sales Breakpoint Overage % Assumption about subsequent terms for this tenant 17 Pak 'N Save Retail, Suite: Jan1987 to Jan Months 58, % $12.49 $725,711 $1.04 $60,476 See method: Pak N Save Natural 50.00% Option MLA $12 17 Pak 'N Save Option, Suite: Feb2013 to Jan Months NATL 58, % $13.74 $798,282 $1.15 $66,524 Feb2018 Feb2023 Feb2028 Feb2033 Feb2038 Feb2043 Feb2048 $15.12 $16.63 $18.29 $20.12 $22.13 $24.35 $26.78 See method: Pak N Save Natural 50.00% MLA $12 Notes: Tenant has 85 Yr options at the rates above 18 Rosie Blawat (NAP) Retail, Suite: B001 Jan2000 to Dec Months LOCAL 8, % $0.00 $0 $0.00 $0 See method: Outparcels None Notes: Not included in sale, pays portion of CAM's. 19 Jack in the Box (NAP) Retail, Suite: KPAD Jan2000 to Dec Months NATL 2, % $0.00 $0 $0.00 $0 See method: Outparcels None Notes: Not included in sale, pays portion of CAM's. 20 Social Security Admin (NAP) Retail, Suite: Jan2000 to Dec Months NATL 6, % $0.00 $0 $0.00 $0 See method: Outparcels None Notes: Not included in sale, pays portion of CAM's. 18

19 Rent Roll (cont d) Tenant Name Type & Suite Number Lease Dates & Term Floor SqFt Bldg Share Rate & Amount per Year per Month Changes on Changes to Description of Operating Expense Reimbursements Sales Breakpoint Overage % Assumption about subsequent terms for this tenant 21 Mervyns (NAP) Retail, Suite: Jan2000 to Dec Months NATL 77, % $0.00 $0 $0.00 $0 See method: Mervyns None Notes: Not included in sale, pays portion of CAM's. 22 Denny's (NAP) Retail, Suite: Jan2000 to Dec Months NATL 4, % $0.00 $0 $0.00 $0 See method: Outparcels None Notes: Not included in sale, pays portion of CAM's. Total Occupied SqFt Total Available SqFt Total SqFt NAP Total SqFt 88,825 7,832 99, ,298 19

20 10 Year Cash Flow For the Years Ending Year 1 Jun2009 Year 2 Jun2010 Year 3 Jun2011 Year 4 Jun2012 Potential Gross Revenue Base Rental Revenue $1,549,368 $1,567,250 $1,593,384 $1,612,517 $1,658,978 $1,716,783 $1,749,534 $1,778,232 $1,802,392 $1,866,690 Absorption & Turnover Vacancy (160,734) (16,253) (7,352) (10,752) (20,203) (15,533) (66,720) (8,523) (12,465) (14,062) Scheduled Base Rental Revenue 1,388,634 1,550,997 1,586,032 1,601,765 1,638,775 1,701,250 1,682,814 1,769,709 1,789,927 1,852,628 Expense Reimbursement Revenue CAM 234, , , , , , , , , ,886 Insurance 34,413 37,279 38,514 39,635 40,749 42,069 42,783 44,859 46,155 47,552 Property Taxes 150, , , , , , , , , ,897 Management Fee 4,848 8,487 9,071 9,162 9,274 9,864 9,874 11,146 11,260 11,660 Total Reimbursement Revenue 424, , , , , , , , , ,995 Other Income 2,170 2,203 2,236 2,269 2,303 2,338 2,373 2,408 2,444 2,481 Total Potential Gross Revenue 1,815,250 2,017,541 2,066,772 2,094,476 2,143,504 2,220,994 2,208,682 2,321,296 2,355,230 2,433,104 General Vacancy (31,140) (29,007) (26,540) (38,478) (73,005) (37,783) (83,854) (81,364) (82,972) Effective Gross Revenue 1,815,250 1,986,401 2,037,765 2,067,936 2,105,026 2,147,989 2,170,899 2,237,442 2,273,866 2,350,132 Operating Expenses CAM 220, , , , , , , , , ,078 Insurance 43,346 44,646 45,985 47,365 48,786 50,249 51,757 53,310 54,909 56,556 Property Taxes 164, , , , , , , , , ,589 Management Fee 54,457 59,592 61,133 62,038 63,151 64,440 65,127 67,123 68,216 70,504 Total Operating Expenses 483, , , , , , , , , ,727 Net Operating Income 1,332,162 1,486,964 1,525,271 1,542,707 1,566,534 1,595,728 1,605,133 1,656,513 1,678,320 1,738,405 Leasing & Capital Costs Tenant Improvements 9,888 4,084 6,720 6,342 13,636 48,085 4,735 7,791 7,353 Leasing Commissions 12,944 5,855 8,563 9,660 18,992 53,134 6,787 9,927 11,198 Capital Reserves 9,666 9,956 10,254 10,562 10,879 11,205 11,541 11,888 12,244 12,612 Total Leasing & Capital Costs 9,666 32,788 20,193 25,845 26,881 43, ,760 23,410 29,962 31,163 Cash Flow Before Debt Service & Taxes $1,322,496 $1,454,176 $1,505,078 $1,516,862 $1,539,653 $1,551,895 $1,492,373 $1,633,103 $1,648,358 $1,707,242 Year 5 Jun2013 Year 6 Jun2014 Year 7 Jun2015 Year 8 Jun2016 Year 9 Jun2017 Year 10 Jun

21 Mission Ridge Plaza Manteca, CA Appendix

22 Demographics POPULATION 1 mile 3 mile 5 mile 1990 Total Population 9,953 45,104 55, Total Population 11,854 51,784 66, Total Population 13,585 61,007 80, Total Population 15,230 66,225 88,060 % Population Change % 14.81% 18.95% % Population Change % 17.81% 21.89% % Population Change % 8.55% 8.89% HOUSEHOLDS 1 mile 3 mile 5 mile 1990 Total Households 3,369 14,823 17, Total Households 3,918 17,223 21, Total Households 4,593 20,516 26, Total Households 5,231 22,597 29,291 % Households Change % 16.19% 19.63% % Households Change % 19.12% 22.67% % Households Change % 10.14% 11.03% HOUSEHOLD INCOME 1 mile 3 mile 5 mile % 2007 HH Income < $10, % 5.14% 4.54% % 2007 HH Income $10,000$14, % 4.19% 3.93% % 2007 HH Income $15,000$19, % 4.81% 4.58% % 2007 HH Income $20,000$24, % 5.61% 5.33% % 2007 HH Income $25,000$29, % 5.33% 4.76% % 2007 HH Income $30,000$34, % 5.10% 5.03% % 2007 HH Income $35,000$39, % 6.44% 5.91% % 2007 HH Income $40,000$44, % 6.35% 6.32% % 2007 HH Income $45,000$49, % 6.80% 6.61% % 2007 HH Income $50,000$59, % 13.46% 13.67% % 2007 HH Income $60,000$74, % 19.01% 19.32% % 2007 HH Income $75,000$99, % 10.63% 12.35% % 2007 HH Income $100,000$124, % 3.68% 4.05% % 2007 HH Income $125,000$149, % 1.93% 2.05% % 2007 HH Income $150,000$199, % 0.75% 0.80% % 2007 Household Income $200, % 0.79% 0.74% INCOME 1 mile 3 mile 5 mile 2000 Average Household Income $49,869 $55,136 $56, Average Household Income $59,545 $64,369 $66, Average Household Income $63,582 $70,701 $73, RACE AND ETHNICITY 1 mile 3 mile 5 mile % 2007 White Population 70.67% 72.13% 68.24% % 2007 Black Population 4.70% 3.49% 3.50% % 2007 American Indian/Alaska Native 0.87% 1.05% 1.02% % 2007 Asian/Hawaiian/Pacific Islander 3.17% 5.15% 7.20% % 2007 Other Population (Incl 2+ Races) 22.46% 18.20% 19.80% % 2007 Hispanic Population 41.62% 34.34% 36.04% % 2007 NonHispanic Population 58.38% 65.66% 63.96% Source: MapInfo Corporation 22

23 Parcel Map 23

24 3990 Westerly Place, Suite 200 Newport Beach, CA Tel Fax