OFFERING MEMORANDUM - LoopNetimages3.loopnet.com/d2/SRXH0wgnmXo5hfhtdx...Rialto has a strengthening economy overall and possesses a growing consumer base. As of 1Q 2017, Retail properties

VALUE ADD OPPORTUNITYRecently Remodeled PropertyAlong Foothill Boulevard

OFFERING MEMORANDUM131 W Foothill Boulevard, Rialto, California 92376

Mario Alvarez

Senior Vice President [email protected] BRE Lic. #01748174

Skip Crane


Mario Alvarez


Skip Crane


EXCLUSIVELY LISTED BY:

Table of Contents

I Offering Summary

II Investment Highlights

III Location Highlights

IV Site Plan/Parcel Map

V Regional Map

VI Area Overviews

VII Demographics

OFFERING MEMORANDUM131 W Foothill BoulevardRialto, California 92376

Value-add opportunity recentlyremodeled along Foothill Boulevard

VALUE ADD OPPORTUNITYRecently Remodeled Property Along Foothill Boulevard - Rialto, CA

131 West Foothill Boulevard | Offering Summary

Address:131 W. Foothill Blvd.

Rialto, California 92376

Price: $950,000

Year Remodeled: 2017

Year Built: 1950

Net Rentable Building Size: ±2,844 SF

Building:Freestanding + Adjacent Parking

Lots

Parcel Numbers:0130-032-250130-032-260130-033-36

Parcel Size: ±0.27 Acres (11,901 SF)

FINANCING SUMMARYAll Cash (Contact NAI Capital

Investment Group for Further Details)

Offering Summary


131 West Foothill Boulevard | Investment Highlights

Property Features

• Freestanding ±2,844 SF Building with adjacent parking lots on ±0.27 Acres (11,901 SF)

• Multi- Tenant Built-out Vacant or Single Tenant Opportunity (Owner User and/or Investor)

• Remodeled in 2017 – Great Curb Appeal

• Property has separate lots for additional parking

• Great street visibility along Foothill Blvd

• Near signalized intersection of Foothill Blvd and Riverside Ave

• Within close proximity to both 210 Freeway and 10 Freeway

• Close proximity to prominent tenants such as Circle K, Shell, Wells Fargo, Chase, Cardenas Grocery Market, O’Reilly’s, Jack in Box, and many others

Excellent Location, Access and Building Visibility

• Located just West of the signalized intersection of Foothill Blvd and Riverside Ave, benefiting from over 49,236 cars per day.

• Centrally located between the 210 Freeway and 10 Freeway within close approximately to recently completed Super Walmart shopping center.

• Dense population of 343,316 within 5 Mile radius with average household income in excess of $54,000.


131 West Foothill Boulevard | Parcel Map


131 West Foothill Boulevard | Aerial Overview

Foothill Blvd


131 West Foothill Boulevard | Competition Map


131 West Foothill Boulevard | Regional Map


131 West Foothill Boulevard | Area Overview

Rialto is the sixth largest city in San Bernardino County, and the eleventh largest city in the Inland Empire overall. The city is situated between Interstate 10 and Interstate 210, giving it prime access to the Greater Los Angeles Area. The Interstate 10 also connects Rialto and the Greater Los Angeles area to neighboring Arizona and New Mexico, giving the city access to several markets and distribution networks outside of California. Rialto is also served by the Metrolink Regional Rail Service on the Metrolink San Bernardino Line, which gives Rialto access to the surrounding Inland Empire.

Rialto has a mix of manufacturing, distribution, service and retail businesses. In 2014, the city of Rialto had $1,044,504,000 in taxable sales, or about 3.2% of the total in San Bernardino County. Rialto is also home to several major regional distribution centers for companies including Target, Under Armour, Staples, and Toys “R” Us. Many of these distribution centers serve as the hub for the entire West Coast of the United States, giving Rialto significant economic advantage over other cities in the Inland Empire.

Rank Employer Employees

1 Rialto School District 2,251

2 FedEx - Ground 1,750

3 Target - Distribution 900

4 Staples Distribution Center 400

5 Eagle Roofing Products 360

6 Toys R Us 360

7 Wal-Mart 300

8 Biscomerica Corporation 250

9 Crestview Convalescent Hospital 220

10 Home Depot 215

Source: www.yourrialto.com

Rialto, San Bernardino County, CA


Commercial properties remain in high demand as market fundamentals continue to remain solid. Rialto’s office market’s vacancy rate has also consistently outperformed that of the Inland Empire as a whole. The vacancy rate in Rialto has dropped 30 basis points over the year to 7.0%, making it lower than the Inland Empire as a whole. Similarly, the vacancy rate for industrial property in Rialto declined from 18.3% in 2015, to 7.5% in 2016, and has held stead going into 2017. All of these factors combined show that Rialto has a strengthening economy overall and possesses

a growing consumer base. As of 1Q 2017, Retail properties

total 2,708,071 square feet of rentable building area in the

market and have an 11.2% vacancy rate. The average

asking rent for retail properties in Rialto this quarter was

$1.30/SF NNN, which is a growth of 13.4% from last year.

Although local market conditions are continuing to improve,

the retail industry is being affected by a nation-wide

restructuring of retail trade, and local vacancies will take

time to be reabsorbed.

As of 2016, there were approximately 101,968 residents in Rialto, and the population is expected to continue to grow by 0.53% between 2016 and 2021. By 2021, the total population of the city is expected to be 104,715 according to Esri. There are approximately 25,574 households in Rialto, with an estimated average household income of $63,672. Average household income is projected to continue growing each year by 1.39%, and is estimated to total $68,207 by 2021. This indicates a strong and growing consumer base that can bolster Rialto’s burgeoning retail market.

Rialto, San Bernardino County, CA

131 West Foothill Boulevard | Area Overview

110,000

105,000

100,000

95,000

90,000

85,000

2010 2016 2021*

RIALTO POPULATION

Population* Projected

Source: ESRI Source: ESRI Source: NAI Capital Research, CoStar

$1.50

$1.40

$1.30

$1.20

$1.10

$1.00

15.0%

13.0%

11.0%

9.0%

7.0%

5.0%

RIALTO RETAIL MARKET

AVERAGE ASKING RENTS AND VACANCY RATES

Average Asking RentVacancy Rate

2015

Q1

2015

Q2

2015

Q3

2015

Q4

2016

Q3

2016

Q1

2016

Q4

2016

Q2

2017

Q1

$75,000

$70,000

$65,000

$60,000

$55,000

$50,000

2010 2016 2021*

RIALTO ESTIMATED AVERAGE

HOUSEHOLD INCOME ($)

Population* Projected


131 West Foothill Boulevard | Demographics

Executive Summary 1 mile 3 miles 5 miles

Population

2000 Census Population 22,894 149,913 315,055

2010 Census Population 25,453 165,241 357,526

2017 Estimated Population 27,236 171,753 374,639

2022 Projected Population 28,138 177,151 387,065

2000-2017 Annual Growth Rate 1.1% 0.9% 1.1%

2017-2022 Projected Annual Growth Rate 0.7% 0.6% 0.7%

2017 Estimated Male Population 48.8% 49.1% 49.6%

2017 Estimated Female Population 51.2% 50.9% 50.4%

2017 Estimated Median Age 28.9 29.8 29.4

Race and Ethnicity

2017 White Alone 45.5% 43.4% 44.1%

2017 Black Alone 11.9% 13.4% 11.1%

2017 American Indian/Alaska Native Alone 1.3% 1.1% 1.2%

2017 Asian or Pacific Islander 1.6% 3.1% 3.2%

2017 Other Races 39.7% 38.9% 40.5%

2017 Estimated Hispanic Population 76.8% 73.5% 75.5%

Households

2000 Census Households 6,332 40,101 84,807

2010 Census Households 6,452 41,413 89,819

2017 Estimated Households 7,006 43,782 95,868

2022 Estimated Households 7,258 45,335 99,440

2000-2017 Annual Growth Rate 0.6% 0.5% 0.8%

2017-2022 Estimated Annual Growth Rate 0.7% 0.7% 0.7%

Executive Summary 1 mile 3 miles 5 miles

Household Income

2017 Average Household Income $52,384 $59,903 $56,290

2017 Median Household Income $47,051 $52,035 $48,850

2071 Per Capita Income $13,495 $15,315 $14,492

Housing

2017 Estimated Total Housing Units 7,262 45,089 98,981

2017 Estimated Owner-Occupied 53.9% 62.0% 55.3%

2017 Estimated Renter-Occupied 42.6% 35.1% 41.5%

2017 Estimated Vacant Housing 3.5% 2.9% 3.1%

Home Values

2010 Home Value $1,000,000 or More 0.6% 0.7% 0.8%

2010 Home Value $500,000 to $999,999 8.3% 8.4% 9.2%

2010 Home Value $400,000 to $499,999 6.9% 6.8% 7.5%

2010 Home Value $300,000 to $399,999 15.3% 16.0% 17.5%

2010 Home Value $200,000 to $299,999 29.4% 31.0% 30.3%

2010 Home Value $150,000 to $199,999 22.1% 18.8% 17.5%

2010 Home Value $100,000 to $149,999 10.4% 10.0% 10.6%

2010 Home Value $50,000 to $99,999 4.1% 4.6% 5.6%

2010 Home Value $25,000 to $49,999 3.4% 3.6% 3.0%

2010 Home Value Under $25,000 6.2% 4.8% 3.8%

2010 Median Home Value $219,398 $223,287 $231,825

2010 Median Rent $873 $970 $929


Confidentiality DisclaimerThe information contained herein does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective buyers may need or desire. All financial projections are based on assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and Broker and, therefore, are subject to material variation. This Marketing Package does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the information herein. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective buyers.

Neither Owner nor Broker nor any of their respective officers, Agents or Principals has made or will make any representations or warranties, express or implied, as to the accuracy or completeness of this Marketing Package or any of its contents, and no legal commitment or obligation shall arise by reason of the Marketing Package or its contents. Analysis and verification of the information contained in the Marketing Package is solely the responsibility of the prospective buyer, with the Property to be sold on an as-is, where-is basis without any representations as to the physical, financial or environmental condition of the Property.

Owner and Broker expressly reserve the right, a their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. Owner has no legal commitment or obligations to any entity reviewing this Marketing Package or making an offer to purchase the Property unless and until such sale of the Property is approved by Owner in its sole discretion, a written agreement for purchase of the Property has been fully delivered, and approved by Owner, its legal counsel and any conditions to the Owner's obligations thereunder have been satisfied or waived.

This Marketing Package and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the "Contents"), are of a confidential nature. By accepting this Marketing Package, you unconditionally agree that you will hold and treat the Marketing Package and the Contents in the strictest confidence, that you will not photocopy or duplicate the marketing Package or any part thereof, that you will not disclose the Marketing Package or any of the Contents to any other entity (except in the case of a principal, who shall be permitted to disclose to your employees, contractors, investors and outside advisors retained by you, or to third-party institutional lenders for financing sought by you, if necessary, in your opinion, to assist in your determination of whether or not to make a proposal) without the prior authorization of the Owner or Broker, and that you will not use the Marketing Package or any of the Contents in any fashion or manner detrimental to the interest of the Owner or Broker.

Mario Alvarez


Skip Crane


EXCLUSIVELY LISTED BY:


Documents

OFFERING MEMORANDUM - LoopNetimages3.loopnet.com/d2/SRXH0wgnmXo5hfhtdx...Rialto has a strengthening economy overall and possesses a growing consumer base. As of 1Q 2017, Retail properties