TEMECULA // CALIFORNIA // 92590 · TEMECULA VALLEY MARKET OVERVIEW Temecula Valley Industial Market...
Transcript of TEMECULA // CALIFORNIA // 92590 · TEMECULA VALLEY MARKET OVERVIEW Temecula Valley Industial Market...
TEMECULA // CALIFORNIA // 92590
60,000 SQUARE FOOT INDUSTRIAL BUILDINGFOR SALE
1 | 41995 REMINGTON AVENUE | TEMECULA | CALIFORNIA | 92590
Contact Information:
STAN NOWAK, [email protected]# 01461162
Avison Young | 4655 Executive Drive, Suite 325 | San Diego, CA 92121858.201.7070 | avisonyoung.com
©Avison Young. All rights reserved. The information provded herein was obtained
from sources deemed reliable and is believed to be true. It has not been verifited,
and as such, cannot be warranted nor form any part of any future contract.
CODY LERNER, [email protected]# 01994966
01Property Overview
02Market Overview
03Area Overview
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Property Overview01
PROPERTY DESCRIPTION
OVERVIEW:
Excellent Southwest Riverside County location in an explosive industrial development area central to Orange, San Diego, Riverside and San Bernardino Counties.
This 60,000 plus square foot corporate image industrial manufacturing/distribution building boasts multi-story office, an expansive warehouse with above average electrical power supply, energy efficient lighting plus skylights, multiple dock high positions and grade level loading.
Located approximately 1.25 miles from Interstate 15 at the Winchester Road exit.
• A class “A” corporate image 60,000 square foot industrial building available for purchase
• 5,000 SF of two-stor25y office includes: • First Floor: Reception, three offices, large employee break room,
two restrooms totaling approximately 1,800 square feet• Second Floor: Executive offices, conference room, two
offices, work room, two restrooms and cubicle space totaling approximately 3,100 sf
• Additional 3,000sf of concrete deck mezzanine for additional office build-out, production or addition storage area
• 52,000 sf of high-volume warehouse with wide column spacing
• Heavy power for manufacturing: 2,000 amps / 277/480 volt, 3 Phase
• Multiple dock-high and grade level loading positions with excellent circulation to accommodate 48’ - 53’ trailer lengths
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PROPERTY DETAILS
REMINGTON AVENUEREMINGTON AVENUE
DIAZ ROAD
DIAZ ROAD
Address: 41995 Remington Avenue, Temecula, CA 92591
APN: 909-373-001
Building Size: 60,000 SF
Land Size 1.38 Acres
Year Built: 2006
Construction: Concrete Tilt-up
Column Spacing: 48’ x 48’
Clear Height: 28’
Drive Ins: 2
Dock High Doors: 4
Parking Spaces: 150
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SITE PLAN
NAP
NAP
REMINGTON AVENUE
DIA
Z R
OA
D
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BREAKROOM11’-6” x 28’-0”
OFFICE8’-0” x 9’-10”
OFFICE8’-6” x 9’-0”
CONF8’-0” x 9’-10”
LOBBY21’-9” x 17’-3”
WOMENMEN
RRGL
GL
DH
DH
DH
DH
ELECTRICAL ROOM
FIRST FLOOR
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SECOND FLOOR
Open to Below
STORAGE85’-8” x 35’-9”
PRES. OFFICE24’-8” x 22’-0”
OFFICE12’-0” x 10’-0”
OFFICE13’-0” x 9’-7”
CONF.15’-0” x 24’-10”
COFFEE/COPY
7’-6” x 6’-0”
COMP.9’-4” x 6’-0”
WOMENMEN
(11) 6’ X 8’ CUBES
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PARCEL MAP
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Market Overview02
INLAND EMPIRE
5.3%Unemployment
Rate
-66K sfNet aborbption
5.4%Total Vacancy
Rate
$0.49 PSFAsking Rental Rate Weighted Average
Source: Avison Young: First Quarter 2017 Indusrial Market Report
The Inland Empire industrial market is performing at optimal levels with a healthy economy at the start of the New Year of 2017. Vacancy has remained consistent at tight levels which have been mostly flat, year-over-year for the fourth year in a row. Reliable leasing demand has allowed rental rate pricing to move higher year-over year at a modest pace. The counties of Riverside and San Bernardino, which make up the Inland Empire market, are experiencing strong economic fundamentals, and rapid growth in population and quality inventory. These factors are driving heightened developer interest and elevated investor appetite.
The Inland Empire is a powerhouse of industrial inventory that supports the demands of the entire Southern California region. Construction activity resumed rapidly post-recession and has met pre-recession levels with fervor. As of the first quarter of 2017, vacancy in the Inland Empire’s industrial market increased to 5.4%, up from the previous quarter at 4.7%, yet up only slightly from the same time in the previous year at 5.2%. On a year-over-year basis, vacancy has been hovering around flat levels, with a slight trend toward contraction. Competitive vacancy levels have been sustainable in the market in spite of the consistent addition of new inventory.
Rental rates for the entire market on average have reached $0.49 psf NNN as of the first quarter of 2017, a slim increase over the previous quarter, and a more significant increase seen from $0.46 psf NNN at the same time in the previous year.
The Inland Empire industrial market recorded a total net absorption of negative 66,016 sf for the quarter, and positive 18,831,228 sf for the most recent 12 month period. The market had 115 industrial projects under construction at the first quarter of the year, amounting to 26,798,599 sf of new inventory that is expected to be delivered in 2017 and 2018.
The Inland Empire’s unemployment rate, as of the first quarter of the year, dropped to 5.3%, down from 5.9% one year earlier. Within the market, unemployment was 5.5% in Riverside County and 5.2% in San Bernardino County.
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TEMECULA VALLEY MARKET OVERVIEW
Temecula Valley Industial Market
14,774,549 SFin
621 buildingsVacancy Rate
1.8% 1.0
1.5
2.0
2.5Vacancy Rate (Percent)
2017 Q12016 Q42016 Q32016 Q2
The Temecula Valley market is comprised of approximately 14,774,549 square feet in 621 buildings, with a current vacancy rate of 1.8%. The Temecula Valley Industrial submarket is one of the strongest in the Inland Empire market.
The City of Temecula can be further broken down by the core competitive set of properties between 30,000 - 100,000 square feet. The subgroup contains 40 buildings totaling 1,885,293 square feet with a vacancy of 1.1%. The low vacancy rate has helped to drive lease rates within the last year.
Temecula - 30,000 - 100,000 SF
Industial Market
1,885,293 SFin
40 buildingsVacancy Rate
1.1%0.0
0.5
1.0
1.5Vacancy Rate (Percent)
2017 Q12016 Q42016 Q32016 Q2
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Area Overview03
15
15
15
215
Win
ches
ter R
oad
Diaz Road
Ynez Road DePortola Road
Murrieta Hot Springs Road Butter�eld Stage Road
Nutmeg Street
Los Alam
os Road
Hancock Avenue
Calif
orni
a Oak
s Roa d
Paub a Road
La Ser
ena Way
Meadows Parkw
ay
Nicholas Road
Wh itewood Roa
d
Adams Road
Je�erson Avenue
Pourroy Road
Temecula Parkway
Pechanga Parkway
Vail R
anch Parkway
Anza Road
Rancho California Road
M
argarita Ro ad
MURRIETA
TEMECULA
SantaMargaritaEcologicalReserve
LOCATION MAP
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WINCHESTER ROAD
DIAZ ROAD
MARGARITA ROAD
YNEZ ROAD
RANCHO CALIFORNIA ROAD
JEFFERSON AVENUE
Promenade Regional MallStarbucks, Trader Joe’s, Chick-fil-A, Costco,
Williams-Sonoma, Coach & 40+ others
Temecula Town Center / Tower PlazaTarget, Black Angus Steakhouse, CVS,
Chili’s, Subway & 10+ others
Old Town TemeculaStarbucks, Blackbird Tavern, Baily’s,
Crush & Brew & 20+ others
SURROUNDING AREA
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Promenade Regional Mall•
Old Town Temecula Temecula Town Center / Tower Plaza
SURROUNDING AREA Minutes from Regional Destinations
R
Recreate PMS
Choose from Nearly 100 Retail, Dining & Entertainment Options
within 15 minutes of the Property
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AREA OVERVIEW - TEMECULA
Temecula is a place of rolling vineyards, historic traditions and modern conveniences combined to offer entertainment for people of all ages. Covering 30,169 square miles, Temecula is centrally located along the I-15 and I-215 freeway corridor in Southwest California, just north of the San Diego county line. Branded as Southern California Wine Country, Temecula has award winning schools, higher educational opportunities, vast array of parks and trails, diverse shopping and dining options and beautiful residential communities. With its beautiful wine country, charming Old Town and four-diamond Pechanga Resort & Casino, Temecula remains a premier city within Southwest Riverside County. With a population of more than 100,000, this city continues to build on its success; it attracts those who demand a high quality of life.
Over the past two decades, the City of Temecula has evolved into a innovative, dynamic City and a regional economic center for Southwest Riverside County, all while retaining its small town feel and character. Many families began to move to the area from San Diego and Orange County drawn by the affordable housing prices and the popular wine country. Temecula is an affluent community. Supported by high median and mean income levels as well as the city’s favorable tourist and resort industries, the city is a prominent tourist destination. Temecula remains the ideal city for relocating, expanding and developing a new project in Southern California.
Located in the heart of Temecula, Old Town Temecula blends historic 1880’s buildings with over 640 antique dealers, unique shopping and restaurants. Old Town Temecula is the site of many special events including car shows, semi-annual Road Runs, Western Days and summer weekend entertainment and also home to the Temecula Museum which features exhibits about the local band of Native Americans and the local natural history and city development.
The Temecula Valley boasts 153 holes at eight golf courses, including seven championship courses. The well-bunkered Oaks at Temecula Creek Inn is known for its tree-lined beauty and playability, while Pechanga’s Journey will take your breath away on the sixth hole, where the intimidating 175-yard drop may make your knees quiver during your tee shot.
Temecula has a perfect climate for serene and beautiful hot-air ballooning adventures and award-winning wineries nestled in 3,000 acres of picturesque wine country but that’s just the beginning. The community’s mix of entertaining activities and friendly residents makes visitors want to return again and again.
The Pechanga Band of Luiseno Indians built the current Pechanga Resort and Casino complex in 2001 and began a $285 expansion project in 2016. Linked together in an architectural design that subtly highlights the tribe’s Luiseno culture, the facility includes a vast 188,000 square foot gaming floor, that makes Pechanga the biggest casino in California. Designed with player comfort in mind, the casino is equipped with a state-of-the-art filtration system and offers extensive non-smoking areas. Pechanga Resort and Casino is Temecula Valley’s largest employer, with over 4,000 people employed.
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AREA OVERVIEW - TEMECULA
TEMECULA DEMOGRAPHICS
Census 2010 Summary
Population: 100,107
Household: 31,7840
Median Age: 33.4
Census 2017 Summary
Population: 110,802
Household: 35,004
Median Age: 34.5
Median Household Income: $84,322
Average Household Income: $101,330
Census 2022 Summary
Population: 118,834
Household: 37,345
Median Age: 35.0
Median Household Income: $92,870
Average Household Income: $115,271
Trends: 2017 - 2022 Annual Rate
Population: 1.41%
Household: 1.30%
Median Household Income: 1.95%
VALLEY UNIFIE
D
TEMECULA
EMD
MIL
LIPO
RE
2,961 Employees
2,000Employees
900 Employees
650 Employees
600 Employees
585 Employees
420 Employees
400 Employees
376 Employees
330 Employees
Temecula Top Employers
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AREA OVERVIEW - RIVERSIDE COUNTY
Riverside County is one of the fastest growing counties in the United States, leading the rapidly changing Inland Empires market, with rivers, mountain peaks, deserts and fertile valleys, Riverside County offers diversity that few locations can match. More than two million people live in Riverside County, making it the fourth most populous county in California, taking advantage of affordable housing, nearby beaches, mountains, hiking and bike trails, the Wine Country near Temecula and resorts that offer oases in the desert. Riverside Country covers 7,208 square miles on Southern California. Together, Riverside and San Bernardino Counties have been dubbed the Inland Empire.California’s fourth largest county by population is expanding its economy, working to diversify beyond the housing industry that has driven the region’s economy for years.Centrally located in the heart of Southern California, Riverside County boarders San Bernardino, Orange and San Diego Counties. Interstate 10 runs thought the entire County from east to west, and Interstate 15 and 215 connect Riverside County with San Diego County and San Bernardino County. Highway 60 and 91 link Riverside County to Los Angeles and Orange Counties. Attractive to many businesses, rail service connects Riverside County businesses with important markets, ports of entry and key airports to expedite major national and international commerce transactions. Metrolink accomodates a large number of commuters from Riverside to Los Angeles, Orange and San Bernardino Counties. In addition, Riverside County is presently served by 3 airports including the rapidly expanding Ontario International Airport, Palm Springs International Airport and San Bernardino International Airport.
Census 2010 Summary
Population: 2,189,641
Household: 686,260
Median Age: 33.7
Census 2017 Summary
Population: 2,388,710
Household: 741,071
Median Age: 34.6
Median Household Income: $60,180
Average Household Income: $83,526
Census 2022 Summary
Population: 2,542,192
Household: 583,386
Median Age: 35.3
Median Household Income: $66,148
Average Household Income: $94,665
Trends: 2017 - 2022 Annual Rate
Population: 1.25%
Household: 1.16%
Median Household Income: 1.91%
RIVERSIDE DEMOGRAPHICS
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Contact Information:
STAN NOWAK, [email protected]# 01461162
Avison Young | 4655 Executive Drive, Suite 325 | San Diego, CA 92121858.201.7070 | avisonyoung.com
©Avison Young. All rights reserved. The information provded herein was obtained
from sources deemed reliable and is believed to be true. It has not been verifited,
and as such, cannot be warranted nor form any part of any future contract.
CODY LERNER, [email protected]# 01994966