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Disclaimer: The information contained herein is provided from sources deemed reliable. The Hoffman Company does not guarantee the accuracy of any of the information herein. All information should be independently verified.
e x c l u s i v e O f f e r i n g M e M O r a n d u M
Drifty Farms9.9 Gross Acres
City of Ontario, New Model Colony East
03/11
Note: This site plan shows landlord’s plan for configuration of the shopping center as of the date of this plan only, and it shall not be deemed to be a representation by landlord respecting(a) the particular buildings, (b) the configuration, location, or floor area of any particular building or space, or (c) the proposed use or occupancy of any particular building or space.
Delivering Shopping Center Excellence
Eastvale Gateway I & IIN W C I - 1 5 F W Y . & L I M O N I T E A V E . • M I R A L O M A , C A
Eastvale Gateway I Eastvale Gateway II
Offered by Lewis Operating Corp., a licensed real estate broker DRE License #1252241. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your property advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
Leal
Clev
elan
d Sq
uare
Ever
ton
Gro
ve
Limonite Ave
Sum
ner
Ave
Scho
lar W
ay
Bellegrave Ave
Ham
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Ave
15
SITE
Tom Dallape, CA DRE #01100284
ThE hoffmAn CompAny18881 Von Karman Ave, Ste 150Irvine, CA 92612T 949.553.2020 • F 949.553.8449CA DRE #01473762www.hoffmanland.com
Ronald C. pietersma, CA DRE #00458297
pIETERSmA & CompAnyp.o. Box 2500Chino, CA 91708T 909.627.2100 • F 909.627.5150
Land BrokersRealty Advisors
The
Hoffman
Company
Land BrokersRealty Advisors
The
Hoffman
Company
Executive Summary
Property Overview
Area/Market Overview
1
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5
13
T a b l e o f C o n T e n T s
1E x E c u t i v E S u m m a r y
The
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Transaction Narrative
The Hoffman Company and Pietersma & Company, as exclusive agents to Drifty Farms, are offering the unique opportunity to acquire 9.8
acres in the New Model Colony area of Ontario, San Bernardino County, CA.
• Future Lakes Specific Plan
• Easy future access to both New Model Colony and Eastvale
• One of the few remaining East New Model Colony Projects
Birds eye aerial view of Drifty Farms
1E x E c u t i v E S u m m a r y
The
Hoffman
Company4D r i f t y Fa r m s | O n t a r i o
Offering Guidelines
Seller
Drifty Fams
Letter of Intent
Please submit a Letter of Intent (“LOI) outlining the terms and con-
ditions under which Buyer proposes to acquire property.
Proposed Deal Structure
45 Day Review
5% Purchase Price Release Applicable
Close of Escrow 22 Months from Review Approval
Monthly Option Payments of $10,000
Asking Price
$1,900,000
Due Diligence Period
The Due Diligence Period shall commence upon buyer acceptance
and delivery of all due diligence materials. The Due Diligence Pe-
riod shall be 60 days.
Deposits
The Initial Deposit of two percent (2%) of the purchase price shall
be made at the Opening of Escrow and shall remain refundable
during the Due Diligence Period. A Second Deposit of three per-
cent (3%) shall be placed into escrow prior to the expiration of the
Due Diligence Period, increasing the deposit to a total of five per-
cent (5%) of the Purchase Price. Upon Buyer’s approval of its Due
Diligence, the five percent (5%) deposit shall be released to the
Seller and shall be non-refundable except for Seller default.
Escrow and Title
Escrow shall be with First American Title Company
Opening of Escrow
Escrow shall open upon delivery to Escrow of (i) the mutually ex-
ecuted Purchase & Sale Agreement and (ii) the Initial Deposit equal
to two percent (2%) of the purchase price.
Brokerage Commission
The brokerage commission shall be paid by Seller pursuant to a
separate agreement.
Key Offering Milestones
Offer Due Date August 1, 2013
Buyer Selection August 9, 2013
End of Due Diligence September 16, 2013
COE May 16, 2015
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Key Offering Milestone
Bank Observed Holiday
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Site Detail
Overview
Drifty Farms is an approximately 9.9 acre parcel located on the northeast corner of Bellegrave Avenue and Sumner Avenue in the New
Model Colony region of Ontario.
Location
Drifty Farms is centrally located in the Inland Empire with excellent access to five major freeways (I-10, I-15, CA-60, CA-71 and CA-91).
From Los Angeles: Take the 60 freeway east to the I-15 South. Exit Limonite Avenue in Ontario. Turn right (west) on Limonite Ave. Turn
right (west) on Sumner Avenue. The site is located at the northeast corner of Bellegrave Avenue and Sumner Avenue.
From Orange County: Take the 91 freeway east to I-15 North. Exit Limonite Avenue in Ontario. Turn left (west) on Limonite Ave. Turn right
(west) on Sumner Avenue. The site is located at the northeast corner of Bellegrave Avenue and Sumner Avenue.
Municipality
City of Ontario
The Lakes Specific Plan
Drifty Farms is part of the proposed Lakes Specific Plan in the New Model Colony
Assessor’s Parcel Number
0218-331-14-0000
Acres
9.9 Gross Acres | 6.19 Net Usable Acres
Improvement Status
None
Current Zoning
The site is zoned per the New Model Colony General Plan for 2.1 - 5 du/ac. Low Density Residential
Schools
Students residing in Drifty Farms will attend the following schools in the Mountain View Elementary Unified School District and Chaffey
Joint Union High School District:
Ranch View Elementary School
2012 API: 814
3300 Old Archibald Ranch
Ontario, CA 91761
Grace Yokely Middle School
2012 API: 809
2947 S. Turner Avenue
Ontario, CA 91709
Colony High School
2012 API: 806
3850 E. Riverside Drive
Ontario, CA 91762
D r i f t y Fa r m s | O n t a r i oThe
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Bid Date
July 15, 2013
Exclusive Brokers
THE HOFFMAN COMPANY PIETERSMA & COMPANY
Tom Dallape Ronald C. Pietersma
t 949.705.0928 t 909.627.2100
[email protected] [email protected]
CA DRE #01100284 CA DRE #00458297
18881 Von Karman Avenue, Suite 150 P.O. Box 2500
Irvine, CA 92612 Chino, CA 91708
T 949.553.2020 | F 949.553.8449 T909.627.2100•F909.627.5150
CA DRE Corp ID #01473762
www.hoffmanland.com
Site Detail
D r i f t y Fa r m s | O n t a r i oThe
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Vicinity Aerial
N
SITE
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Close Up Aerial
N
Sum
ner
Ave
Bellegrave Ave
D r i f t y Fa r m s | O n t a r i oThe
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Net Usable Acres Map
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Ontario Land Use Plan
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Ontario Zoning Map
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Assessor’s Parcel Map
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Property Photos
View northeast from Sumner Ave and Bellegrave Ave
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Regional Map
SubjEcT SITE
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Cloverdale Rd
65th Street
Schleisman Rd
Chandler St
Arc
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Ave
Har
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Ham
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Ave
Cle
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Limonite Rd
ONTARIO
S A N B E R N A R D I N O C O U N T Y
R I V E R S I D E C O U N T Y
JURUPA VALLEY
FOR SALE LOTS TOTAL # of Lots = 1,122DAIRY OWNERS # OF LOTS REMAINING1. Harada - Held for Investment 79 T-Map2. Dyt – Esrcow 117 T-Map3. Richland / DR Horton – Escrow 224 Lots4. Stratham Communities – Escrow 360 Lots5. Van Daele/DR Horton – Available 220 Lots6. Flamingo – Escrow 122 Lots
TOTAL # of Lots = 350PROJECT NAME – BUILDER # OF LOTS REMAINING4. River Road – Meritage Homes 40 Lots5. DR Horton 70 Lots6. Beazer 55 Lots
PROJECTS WITH ACTIVE LOTS PROJECT NAME – BUILDER # OF LOTS REMAINING1. Davenport @ The Enclave – KB Home 80 Lots2. Newbury @ The Enclave – KB Home 15 Lots3. West Haven @ The Enclave – KB Home 90 Lots
BUILDER OWNED LOTS TOTAL # of Lots = 196BUILDER # OF LOTS REMAINING1. Lennar 196 Lots
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Bellegrave Ave
Hel
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EASTVALESu
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Citrus St
Active & Future Remaining Lots – City of Eastvale (as of June 2013)
SubjEcT SITE
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Area Schools Exhibit
Bellegrave Ave
Sum
ner
Ave
Hav
en A
ve
Mill
iken
Ave
Arc
hiba
ld A
ve
Riverside Dr
Edison Ave
Eucalyptus Ave
Chino Ave
Win
evill
e A
ve
Cantu-Galleano Ranch
15
60
2
1
3
SubjEcT SITE
Mountain View School District
(909) 947-2205
Ranch View Elementary School
2012 API: 814
3300 Old Archibald Ranch
Ontario, CA 91761
Grace Yokely Middle School
2012 API: 809
2947 S. Turner Avenue
Ontario, CA 91709
Chaffey Joint Union High School District
(909) 988-8511
Colony High School
2012 API: 806
3850 E. Riverside Drive
Ontario, CA 91762
1
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3
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Ontario Market Trends
Homes for Sale May ‘13 vs. Prev. Month vs. Prev. Year
# Homes for Sale 81 12.9% 67.5%
Median List Price $300K 6.0% 27.6%
Median List $/SqFt. $204 2.5% 28.3%
Homes Sold May ‘13 vs. Prev. Month vs. Prev. Year
# Homes Sold 95 5.6% 27.5%
Median Sold Price $260K 3.5% 20.9%
Median Sold $/SqFt. $186 4.5% 24%
% Sale to List 101% 0.8% 3.4%
Ontario Sold Price Per Square Foot
Ontario Homes on the Market
Ontario Listing Price Per Square Foot
Data as of 06/10/13 | Source: Redfin
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Eastvale Market Trends
Homes for Sale May ‘13 vs. Prev. Month vs. Prev. Year
# Homes for Sale 65 14% 61.5%
Median List Price $465K 3.3% 32.8%
Median List $/SqFt. $165 15.4% 42.2%
Homes Sold May ‘13 vs. Prev. Month vs. Prev. Year
# Homes Sold 71 15.5% 48.2%
Median Sold Price $410K 1.5% 17.3%
Median Sold $/SqFt. $143 2.1% 19.2%
% Sale to List 102.9% 0.2% 3.1%
Eastvale Sold Price Per Square Foot
Eastvale Homes on the Market
Eastvale Listing Price Per Square Foot
Data as of 06/10/13 | Source: Redfin
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Corona Sold Price Per Square Foot
Corona Homes on the Market
Corona Listing Price Per Square Foot
Homes for Sale May ‘13 vs. Prev. Month vs. Prev. Year
# Homes for Sale 151 4.1% 63.5%
Median List Price $430K 8.9% 44.9%
Median List $/SqFt. $196 1.6% 33.3%
Homes Sold May ‘13 vs. Prev. Month vs. Prev. Year
# Homes Sold 195 2.0% 1.0%
Median Sold Price $336K 0.0% 17.3%
Median Sold $/SqFt. $179 8.5% 24.3%
% Sale to List 102.4% 1.5% 2.9%
Corona Market Trends
Data as of 06/10/13 | Source: Redfin
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Homes for Sale May ‘13 vs. Prev. Month vs. Prev. Year
# Homes for Sale 60 1.6% 61.5%
Median List Price $390K 5.7% 32.2%
Median List $/SqFt. $215 8.6% 33.5%
Homes Sold May ‘13 vs. Prev. Month vs. Prev. Year
# Homes Sold 77 67.4% 8.3%
Median Sold Price $375K 11.9% 36.4%
Median Sold $/SqFt. $189 2.6% 13.2%
% Sale to List 101.6% 1.3% 1.9%
Chino Sold Price Per Square Foot
Chino Homes on the Market
Chino Listing Price Per Square Foot
Chino Market Trends
Data as of 06/10/13 | Source: Redfin