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PATTERSON INDUSTRIAL CENTER9.6 ACRE INDUSTRIAL LAND DEVELOPMENT OPPORTUNITY
D E V E L O P M E N T O P P O R T U N I T Y T O T A L I N G 9 . 6 A C R E S I N P E R R I S , C A | S T R A T E G I C I N L A N D E M P I R E L O C A T I O N W I T H D I R E C T I - 2 1 5 A C C E S S
A CBRE NATIONAL PARTNERS INDUSTRIAL INVESTMENT OPPORTUNITY
PATTERSON INDUSTRIAL CENTER
PATTERSON INDUSTRIAL CENTER1
THE OFFERING
CBRE, Inc. is pleased to present the opportunity to acquire an 9.6 acre land site located in the Inland Empire. The property consists of four industrial zoned land parcels ranging from 1.38 acres to 3.96 acres. Demand continues to be strong for land sites in the Inland Empire given the very few vacant land parcels that remain. This is an ideal distribution location with proximity to Interstate 215 and SR-60 as well as minutes from March AFB Inland Port.
The site is located in the northern part of the City of Perris (unincorporated Riverside County) with excellent proximity to Interstate 215 between the Ramona Expressway and Nuevo off ramps and is only 8.5 miles to the 60 freeway. This submarket has attracted quality tenants such as Wayfair, Deckers, Home Depot, Proctor & Gamble, Walgreens and Ross to name a few.
With over 448 million square feet, the Inland Empire is one of the top investment markets in the country. The Inland Empire is comprised of San Bernardino and Riverside Counties and is located approximately one hour east of the Ports of Los Angeles and Long Beach. Over the last decade, the Inland Empire economy has ranked as one of the leading economies in the nation for population growth, job creation, construction and residential real estate.
• Strategic location right off the I-215 freeway with proximity to SR-60, I-15 and SR-91 allowing potential users to access customers throughout the Inland Empire and Southern California basin.
• Unincorporated Riverside County location which is a competitive advantage over a location in the City of Perris with regards to developers’ fees and other project costs.
• High profile surrounding tenants and institutional owners. This strategic I-215 corridor location is a hotspot for Fortune 500 tenants and institutional investors/developers.
• Given the projected growth in population and employee base along the 215 corridor, the potential industrial use at the subject site will have a very positive outlook.
Address Harvill Avenue & Rider Avenue, Perris, CAAcreage 9.59 Net AcresZoning IndustrialParcel Numbers 317-170-025, 026, 027, 028
HIGH PROFILE SURROUNDING TENANTS & INSTITUTIONAL OWNERS• The dwindling supply of available land in the Inland Empire West is driving tenant demand
for buildings in the Inland Empire East. This strategic I-215 corridor location is a hotspot for Fortune 500 tenants and institutional investors.
• The I-215 Corridor has experienced a tremendous expansion in its employment base and population. Moreno Valley /Perris is now home to companies such as Wayfair, Home Depot, Lowe’s, Walgreens, Ross Stores, Whirlpool, General Mills and others. This growth has caught the attention of some of the top public homebuilders who are either building new subdivisions and/or acquiring land positions to fill their future pipeline. This type of activity should have a significant effect on the office and retail potential for the site. The following list of tenants can be found in the Moreno Valley/Perris submarket.
• America’s Tire• Deckers Outdoor• Fallas• General Mills• Hanesbrands• Harbor Freight Tools• Home Depot• iHerb• Kraft Foods
• Lowe’s• Minka Lighting• Philips Electronic• Procter & Gamble• Ross Stores• Sysco Foods• Walgreen’s• Whirlpool
EXECUTIVE SUMMARY 2
STRONG E-COMMERCE GROWTHGrowing e-commerce activity is driving demand for larger warehouses which will benefit the Perris Land Sites. E-commerce sales are growing at more than five times the rate of traditional retail sales, and are expected to increase by 61% by 2016, with projected sales reaching $327 billion. By 2017, online sales are anticipated to account for more than one tenth of all U.S. retail sales.
STRONG MARKET DYNAMICSThe Inland Empire experienced strong growth in 2015 and through the first half of 2016. This steady demand is demonstrated by the decrease in vacancy to 3.7% in the second quarter of 2016 for the entire market. In Q2 2016, net absorption totaled 6.1 million square feet, and YTD net absorption totaled 9.2 million square feet. The Inland Empire Industrial market generated over 12.1 MSF of gross activity in Q2 2016, bringing the year-to-date total to 21.1 MSF.
INCREASED USER ACTIVITY• The size of the footprint and credit of tenants along the I-215 corridor
bode well for absorption and prospective tenant interest in the Perris Land Sites. The desirable market conditions are demonstrated by the 50+ users in the market that have requirements for 13-15 million square feet in the IE.
STRATEGIC LOCATION• The Perris Land Sites are strategically located off the I-215 in Perris with
excellent freeway access.• The dwindling supply of available, entitled, industrial zoned land in
Moreno Valley, combined with increasing tenant demand, has pushed demand further south down the I-215 corridor.
RIDER ST
PATT
ERSO
N AV
E
HARVILL AVE
215
215
NOT A PART - IN ESCROW
PATTERSON INDUSTRIAL CENTER3
Van Buren Blvd
215
215
215
March AirReserve Base
EdgemontE Alessandro Blvd Alessandro Blvd Alessandro Blvd
Cactus Ave
Oliv
er S
t
Mor
eno
Beac
h D
r
Nas
on S
t
Lass
elle
St
Kitc
hing
St
Indi
an S
t
Perr
is B
lvd
N P
erris
Blv
d
Hea
cock
St
Evan
s Rd
Iris Ave
Cactus Ave
Meridian Pkw
y
Meyer Dr John F Kennedy Dr John F Kennedy Dr
Lass
elle
St
Iris Ave
Krameria Ave
Har
vill
Ave
Harley Knox Blvd
Ramona Expy Ramona Expy
E Rider St
Indi
an A
ve
Redl
ands
Ave
E Nuevo Rd
LOCAL MAP
PATTERSON INDUSTRIAL CENTER
EXECUTIVE SUMMARY 4
REGIONAL MAP
PATTERSON INDUSTRIAL CENTER
PATTERSON INDUSTRIAL CENTER5
PARCEL MAP
NOT A PART - IN ESCROW
EXECUTIVE SUMMARY 6
SITE PLAN - MULTIPLE BUILDINGS OPTION
NOT A PART - IN ESCROW
PATTERSON INDUSTRIAL CENTER7
DOCK HIGH TRUCK DOOR
GRADE LEVEL TRUCK DOOR
S I T E L E G E N D :
This conceptual design is based upon a preliminary review ofentitlement requirements and on unverified and possiblyincomplete site and/or building information, and is intendedmerely to assist in exploring how the project might be developed.
NORTH
SHEET
10.13.2016
IRV16-0133-00Proposed Industrial Building
scheme: 01a
Harville & Rider, Perris (Riverside County) 1
0 20 40 80 200
1" =40'
SITE PLAN - SINGLE BUILDING OPTION
PATTERSON INDUSTRIAL CENTER
© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or represen-tation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.
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