Cactus Plaza - Moreno Valley - Moreno Valley Economic Development
Cactus Plaza
22420 Cactus Avenue, Moreno Valley, CA Aria Pournazarian
Steven Goldstein
National Retail Group National Multi-Housing Group (213) 943-1874 (213) 943-1830 [email protected] [email protected] License: CA: 01918248 License: CA: 01975978
NON-ENDORSEMENT NOTICE Marcus & Millichap 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 Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
OFFERING SUMMARY
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
OFFERING SUMMARY OFFERING SUMMARY Pricing: $3,190,000 Year Built: 2007 Gross Leasable Area: 15,986 SF SUBJECT TO INDEPENDENT REVIEW Lot Size: 56,628 SF SUBJECT TO INDEPENDENT REVIEW APN: 297-130-041
Investment Highlights -
Value-Add Opportunity in Riverside County
-
Two Story Retail Center Adjacent to March Air Force Base
-
Located One Parcel Off of Elsworth Avenue & Cactus Avenue Intersection—Greater Part of Centerpointe Business Park
-
Excellent Tenant Synergy with 76 Gas and Car Wash, Circle K and Super Burger Drive-Thru (NAP)
-
Convenient Ingress and Egress Points—Close Proximity to 215 Cactus Avenue On/Off Ramp
-
Modern Construction, Well Maintained Center
-
Over 25,000 Residents in a One-Mile Radius
Property Fundamentals: Ingress and Egress: Access: Parking Considerations:
2 Curb Entrances Dedicated Turn Lane (Cactus Avenue) 72 Total Spaces
Tenancy Current Occupancy: Lease Types: Tenant Mix: Avg. Tenant Rent:
70% NNN Leases (Full Pass Through) Food Use, Retail/Service Uses $1.15 NNN
Building Form ADA Accessibility: Avg. Unit Size: Frontage: Building Height:
Single Elevator, Wheelchair Ramps 1,000-1,300 SF 189’ on Cactus Avenue 28 Feet
OFFERING SUMMARY
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
PROPERTY FINANCIALS
PROPERTY FINANCIALS Income
Current
Gross Base Rent
$172,511
Total Expense Reimbursements
Location
Effective Gross Income Less: Expenses
22420 Cactus Avenue Moreno Valley, CA 92551 Price:
$3,190,000 $199.54
Square Feet:
8.35% 15,986 SF
Net Cash Flow
$149,763
Expenses (January 2017) Insurance
Type of Ownership:
56,628 SF Fee Simple
$37,999 $2,894 $13,034
Repairs & Maintenance
$2,927
Elevator Servicing
$4,399
HVAC
$2,050
Accounting/Legal Expense
Lot Size:
$72,678 $149,763
Utilities (Water, Trash, Electric)
Cap Rate (Market):
$222,441
Net Operating Income
Real Estate Taxes (1.1123% +$2,517)
Price/SF:
$49,930
$905
Landscaping
$5,520
Cleaning Service
$1,920
Pest Control
$1,030
Total Expenses Expenses/SF
$72,678 $4.54/SF
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
RENT ROLL
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
UNIT DESCRIPTIONS
UNIT DESCRIPTIONS • 12 RETAIL/OFFICE UNITS • ALL VACANCIES CURRENTLY IN VANILLA-SHELL CONDITION LIMITING RETENANCY COSTS DOWN THE LINE • NEW CONSTRUCTION, 2007 BUILT. LIMITED DEFERRED MAINTENANCE
• UNIT 105, ENDCAP, BUILT OUT FOR FOOD USE (RANGE, GREASE TRAP) • GROUNDFLOOR UNITS HAVE BACKDOOR ACCESS • ABILITY TO COMBINE ENTIRE SECOND FLOOR, SUBJECT TO BUYER’S REVIEW • AVERAGE FLOOR SIZE IS 7,990 SQUARE FEET • AVERAGE UNIT SIZE IS 1,000-1,300 SQUARE FEET • DESIGNED FOR MAXIMUM NATURAL LIGHT • CONTROLLED ACCESS AND PARKING
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SITE PLAN—GROUND FLOOR
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SITE PLAN—SECOND FLOOR
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SALES COMPARABLES
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SALES COMPARABLES
14465 Moreno Beach Drive
22435 Alessandro Boulevard
14090 Perris Boulevard
Power Center
Shopping Center
Shopping Center
Close of Escrow
10/29/2015
Close of Escrow
7/9/2015
Close of Escrow
12/8/2015
Year Built
2009
Year Built
2008
Year Built
2009
Sale Price
$19,000,000
Sale Price
$5,200,000
Sale Price
$2,480,109
Price/SF
$249.00
Price/SF
$695.00
Price/SF
CACTUS PLAZA
SANTA MONICA URBAN LOFTS This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
$338.00
THE NEIGHBORHOOD
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
MORENO VALLEY CACTUS CENTER
3 Parcel Development Project Adjacent to Cactus Plaza • • • • •
Recently Approved Commercial Center for 6.30 Acres 39,950 Square Foot Warehouse Building Brand New 24-Hour Gas Station and Carwash Two 3,000 Square Foot Fast-Food Restaurants with Drive-Thru Synergistic Mix of Commercial, Logistic and Light Warehouse Uses
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
CENTERPOINTE BUSINESS PARK
LEGEND • • • • • •
#10: Approved, 79 Hotel Rooms, Hawthorn Inn & Suites. #19: Under Construction, Veterans Way Logistics Center. #28: Approved, Gateway Business Park. #13: Newly Completed, Harbor Freight Distribution Center. #12: Public Property, Moreno Valley Civic Center. #14,#18: Newly Completed Serta Mattress Factory and Distribution Center. • #15: Newly Completed: Frazee Paint Distribution Center. SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
M O R E N VALLEY O VALLEY MORENO
A P P R O V E D
P R O J E C T S
• 3,938 NEW SINGLE-FAMILY HOMES • 2,420 NEW MULTI-FAMILY UNITS • 25,000 NEW JOBS—AMAZON CORP. • MARCH LIFECARE CAMPUS • AQUA BELLA WELLSNESS CENTER
M A J O R
P O I N T S
O F
I N T E R E S T
MARCH AIR FORCE BASE UNITED NATURAL FOODS US SOCIAL SECURITY OFFICE MORENO VALLEY CITY HALL MORENO VALLEY POLICE DEPARTMENT HARBOR FREIGHT DISTRIBUTION CENTER RIVERSIDE UNIVERSITY HEALTH SYSTEMS WORLD LOGISTICS CENTER KAISER PERMANENTE—MORENO VALLEY MORENO MARKETPLACE TOWNGATE CROSSING FEDERAL-MOGUL CORPORATION VISTA DE LAGO HIGH SCHOOL
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
22420 Cactus Avenue, Moreno Valley, CA Aria Pournazarian
Steven Goldstein
National Retail Group National Multi-Housing Group (213) 943-1874 (213) 943-1830 [email protected] [email protected] License: CA: 01918248 License: CA: 01975978
NON-ENDORSEMENT NOTICE Marcus & Millichap 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 Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
OFFERING SUMMARY
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
OFFERING SUMMARY OFFERING SUMMARY Pricing: $3,190,000 Year Built: 2007 Gross Leasable Area: 15,986 SF SUBJECT TO INDEPENDENT REVIEW Lot Size: 56,628 SF SUBJECT TO INDEPENDENT REVIEW APN: 297-130-041
Investment Highlights -
Value-Add Opportunity in Riverside County
-
Two Story Retail Center Adjacent to March Air Force Base
-
Located One Parcel Off of Elsworth Avenue & Cactus Avenue Intersection—Greater Part of Centerpointe Business Park
-
Excellent Tenant Synergy with 76 Gas and Car Wash, Circle K and Super Burger Drive-Thru (NAP)
-
Convenient Ingress and Egress Points—Close Proximity to 215 Cactus Avenue On/Off Ramp
-
Modern Construction, Well Maintained Center
-
Over 25,000 Residents in a One-Mile Radius
Property Fundamentals: Ingress and Egress: Access: Parking Considerations:
2 Curb Entrances Dedicated Turn Lane (Cactus Avenue) 72 Total Spaces
Tenancy Current Occupancy: Lease Types: Tenant Mix: Avg. Tenant Rent:
70% NNN Leases (Full Pass Through) Food Use, Retail/Service Uses $1.15 NNN
Building Form ADA Accessibility: Avg. Unit Size: Frontage: Building Height:
Single Elevator, Wheelchair Ramps 1,000-1,300 SF 189’ on Cactus Avenue 28 Feet
OFFERING SUMMARY
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
PROPERTY FINANCIALS
PROPERTY FINANCIALS Income
Current
Gross Base Rent
$172,511
Total Expense Reimbursements
Location
Effective Gross Income Less: Expenses
22420 Cactus Avenue Moreno Valley, CA 92551 Price:
$3,190,000 $199.54
Square Feet:
8.35% 15,986 SF
Net Cash Flow
$149,763
Expenses (January 2017) Insurance
Type of Ownership:
56,628 SF Fee Simple
$37,999 $2,894 $13,034
Repairs & Maintenance
$2,927
Elevator Servicing
$4,399
HVAC
$2,050
Accounting/Legal Expense
Lot Size:
$72,678 $149,763
Utilities (Water, Trash, Electric)
Cap Rate (Market):
$222,441
Net Operating Income
Real Estate Taxes (1.1123% +$2,517)
Price/SF:
$49,930
$905
Landscaping
$5,520
Cleaning Service
$1,920
Pest Control
$1,030
Total Expenses Expenses/SF
$72,678 $4.54/SF
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
RENT ROLL
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
UNIT DESCRIPTIONS
UNIT DESCRIPTIONS • 12 RETAIL/OFFICE UNITS • ALL VACANCIES CURRENTLY IN VANILLA-SHELL CONDITION LIMITING RETENANCY COSTS DOWN THE LINE • NEW CONSTRUCTION, 2007 BUILT. LIMITED DEFERRED MAINTENANCE
• UNIT 105, ENDCAP, BUILT OUT FOR FOOD USE (RANGE, GREASE TRAP) • GROUNDFLOOR UNITS HAVE BACKDOOR ACCESS • ABILITY TO COMBINE ENTIRE SECOND FLOOR, SUBJECT TO BUYER’S REVIEW • AVERAGE FLOOR SIZE IS 7,990 SQUARE FEET • AVERAGE UNIT SIZE IS 1,000-1,300 SQUARE FEET • DESIGNED FOR MAXIMUM NATURAL LIGHT • CONTROLLED ACCESS AND PARKING
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SITE PLAN—GROUND FLOOR
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SITE PLAN—SECOND FLOOR
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SALES COMPARABLES
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
SALES COMPARABLES
14465 Moreno Beach Drive
22435 Alessandro Boulevard
14090 Perris Boulevard
Power Center
Shopping Center
Shopping Center
Close of Escrow
10/29/2015
Close of Escrow
7/9/2015
Close of Escrow
12/8/2015
Year Built
2009
Year Built
2008
Year Built
2009
Sale Price
$19,000,000
Sale Price
$5,200,000
Sale Price
$2,480,109
Price/SF
$249.00
Price/SF
$695.00
Price/SF
CACTUS PLAZA
SANTA MONICA URBAN LOFTS This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
$338.00
THE NEIGHBORHOOD
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
MORENO VALLEY CACTUS CENTER
3 Parcel Development Project Adjacent to Cactus Plaza • • • • •
Recently Approved Commercial Center for 6.30 Acres 39,950 Square Foot Warehouse Building Brand New 24-Hour Gas Station and Carwash Two 3,000 Square Foot Fast-Food Restaurants with Drive-Thru Synergistic Mix of Commercial, Logistic and Light Warehouse Uses
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
CENTERPOINTE BUSINESS PARK
LEGEND • • • • • •
#10: Approved, 79 Hotel Rooms, Hawthorn Inn & Suites. #19: Under Construction, Veterans Way Logistics Center. #28: Approved, Gateway Business Park. #13: Newly Completed, Harbor Freight Distribution Center. #12: Public Property, Moreno Valley Civic Center. #14,#18: Newly Completed Serta Mattress Factory and Distribution Center. • #15: Newly Completed: Frazee Paint Distribution Center. SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
M O R E N VALLEY O VALLEY MORENO
A P P R O V E D
P R O J E C T S
• 3,938 NEW SINGLE-FAMILY HOMES • 2,420 NEW MULTI-FAMILY UNITS • 25,000 NEW JOBS—AMAZON CORP. • MARCH LIFECARE CAMPUS • AQUA BELLA WELLSNESS CENTER
M A J O R
P O I N T S
O F
I N T E R E S T
MARCH AIR FORCE BASE UNITED NATURAL FOODS US SOCIAL SECURITY OFFICE MORENO VALLEY CITY HALL MORENO VALLEY POLICE DEPARTMENT HARBOR FREIGHT DISTRIBUTION CENTER RIVERSIDE UNIVERSITY HEALTH SYSTEMS WORLD LOGISTICS CENTER KAISER PERMANENTE—MORENO VALLEY MORENO MARKETPLACE TOWNGATE CROSSING FEDERAL-MOGUL CORPORATION VISTA DE LAGO HIGH SCHOOL
SANTA MONICA URBAN LOFTS
CACTUS PLAZA
This is a broker price opinion or comparative market analysis and should not be considered an appraisal. 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc.©2014 Marcus & Millichap. All rights reserved.
