Underwriting Report - Shopping Center Deanza Country Plaza 7710-7790 Limonite Ave 209,869 SF Community Center Riverside, CA 92509 - Riverside Submarket
PREPARED BY
Debi Myers Owner Table Of Contents
SUBJECT SHOPPING CENTER
Center Details 2
MARKET SUMMARY
Inland Empire Market Summary 12
Inland Empire Economic Summary 13
PEER SHOPPING CENTERS
Peer Shopping Centers Summary 16 Peer Shopping Center Photos 19 Peer Shopping Center Details 21 Peer Shopping Center Comparison 30
LEASING ANALYTICS
Inland Empire Vacancy Analytics 36 Rent Analytics 41 Absorption Analytics 43 Leasing Analytics 44
CONSTRUCTION
Overall Construction Summary 47 Inland Empire Construction 48 Riverside Construction 49 Construction Activity 54 Completed Construction Past 12 Months 59 Deliveries Past 12 Months Property Details 63 Under Construction Summary 88 Under Construction Property Details 89
SALE COMPS
Investment Trends 102 Sale Comp Details 106
Sales Volume 134 Sales Pricing 135 Cap Rates 137 Top Buyers & Sellers 138
DEMOGRAPHICS
Income and Spending 141
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APPENDIX
Historical Leasing Data 144 Historical Construction Data 146
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Subject Shopping Center Deanza Country Plaza
SHOPPING CENTER Type: Community Center Land Acres: 32.63 AC Name: Deanza Country Plaza # of Properties: 11 GLA: 209,869 SF Year Built/Renov: Built 1979, Renov 2005 Anchor GLA: 136,061 SF Floors: 1 - 2 Available Spaces: 8 Location Score: Excellent Location (78) % Leased: 94.20 % Walk Score®: Somewhat Walkable (68) Website: - Transit Score®: Some Transit (26) Anchor Tenant: Stater Bros., 24 Hour Fitness, Dollar Tree, Kmart Parking: 1,301 Surface Spaces Features: Signalized Intersection Frontage: Limonite Ave 1,345', Limonite Ave 1,187' For Sale: Not for sale
AVAILABLE SPACES
Space Type Square Feet
Address Use Type Occupancy SF Avail Bldg Contig Rent On Mkt Vacant 7840 Limonite Ave Retail Direct Vacant 1,120 1,120 $15.00/NNN 46 mo 43 mo 7720-7790 Limonite Ave Retail Direct Vacant 1,300 1,300 $19.20/NNN 1 mo 1 mo 7920-7990 Limonite Ave Retail Direct Vacant 1,300 1,300 $15.00/NNN 42 mo 43 mo 7920-7990 Limonite Ave Retail Direct Vacant 1,300 1,300 $15.00/NNN 38 mo 39 mo 7920-7990 Limonite Ave Retail Direct Vacant 1,300 1,300 $15.00/NNN 17 mo 17 mo 7820-7830 Limonite Ave Retail Direct Vacant 2,600 2,600 $15.00/NNN 17 mo 17 mo All Spaces 8,920 2,600 $15.61/SF/Yr
SHOPPING CENTER PROPERTIES
Availability
Property Name / Address Yr Blt/Renov Bldg SF Anchor Spcs Avail % Vac % NNN Rent Per SF
1 De Anza Country Plaza 7840 Limonite Ave - 1979/2005 87,127 Kmart 1 1.3% 1.3% $15.00
Stater Bros. 2 7720-7790 Limonite Ave - 1980/- 58,038 Dollar Tree 1 2.2% 2.2% $19.20
3 7920-7990 Limonite Ave - - 36,218 24 Hour Fitness 3 10.8% 10.8% $15.00
4 7900 Limonite Ave - 1979/2005 10,424 - 0 0.0% 0.0% $17-21 (Est.)
5 7820-7830 Limonite Ave - - 7,408 - 1 35.1% 35.1% $15.00
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Availability
Property Name / Address Yr Blt/Renov Bldg SF Anchor Spcs Avail % Vac % NNN Rent Per SF
6 7800 Limonite Ave - - 3,702 - 0 0.0% 0.0% $25-30 (Est.)
7 7850 Limonite Ave - - 2,665 - 0 0.0% 0.0% $25-31 (Est.)
8 7850 Limonite Ave - 1991/2005 1,786 - 0 0.0% 0.0% $25-31 (Est.)
9 7940 Limonite Ave - - 1,381 - 0 0.0% 0.0% $25-31 (Est.)
10 7970 Limonite Ave - - 1,120 - 0 0.0% 0.0% $22-27 (Est.)
1 7840 Limonite Ave 2 7720-7790 Limonite Ave 3 7920-7990 Limonite Ave 87,127 SF, Built 1979/Renov 2005 58,038 SF, Built 1980 36,218 SF 1 Tenant, Vacancy 1.3% 11 Tenants, Vacancy 2.2% 19 Tenants, Vacancy 10.8% 1,120 SF / 1 Space Avail 1,300 SF / 1 Space Avail 3,900 SF / 3 Spaces Avail NNN Rent/SF - $15.00 NNN Rent/SF - $19.20 NNN Rent/SF - $15.00
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4 7900 Limonite Ave 5 7820-7830 Limonite Ave 6 7800 Limonite Ave 10,424 SF, Built 1979/Renov 2005 7,408 SF 3,702 SF 27 Tenants, Vacancy 0% 3 Tenants, Vacancy 35.1% Bank Fully Leased 2,600 SF / 1 Space Avail Fully Leased Rent/SF - $17-21 (Est.) NNN Rent/SF - $15.00 Rent/SF - $25-30 (Est.)
7 7850 Limonite Ave 8 7850 Limonite Ave 9 7940 Limonite Ave 2,665 SF 1,786 SF, Built 1991/Renov 2005 1,381 SF Fast Food 2 Tenants, Vacancy 0% Fast Food Fully Leased Fully Leased Fully Leased Rent/SF - $25-31 (Est.) Rent/SF - $25-31 (Est.) Rent/SF - $25-31 (Est.)
10 7970 Limonite Ave 1,120 SF Fast Food Fully Leased Rent/SF - $22-27 (Est.)
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SHOPPING CENTER PROPERTIES
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TENANTS
1 7840 Limonite Ave - De Anza Country Plaza Store Type SF Occupied Chain Move Date Exp Date Kmart Dept Store 82,817 Yes Jun 2006 -
2 7720-7790 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date Stater Bros. Supermarket 28,000 Yes May 2009 - Dollar Tree Dollar/Variety/Thrift 18,000 Yes May 2009 - Round Table Pizza Pizza 3,500 Yes May 2009 - Great Clips Salon/Barber/Spa 2,338 Yes May 2018 - Cardellis Italian Deli Restaurant 1,500 No May 2018 - New Age Dental MD/DDS 1,500 No May 2018 - ACE Cash Express Finance Company 1,200 Yes Aug 2009 - De Anza Cleaners Cleaners 500 No May 2018 - Final Touch Hair Nails and Spa - 500 No May 2018 - HRBC Insurance - 500 No May 2018 - Simply Cakes ect Bakery Bakery 500 No May 2018 -
3 7920-7990 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date Crunch Fitness 15,000 Yes Dec 2018 - 24 Hour Fitness Fitness 7,244 Yes May 2009 - 777 Cleaners - 1,800 No Aug 2009 - Jurpa Valley of Congress - 1,300 No Mar 2012 - Re/Max Impact Real Estate 1,300 Yes Jun 2013 - Subway Sub Sandwich 1,200 Yes May 2009 - Farmers Insurance Insurance 1,000 Yes Dec 2018 - Jasmine Garden - 500 No Jul 2016 - 3 Kings Embroidery - - No Jul 2016 - CDCA Inc - - No Jul 2016 - Emma Gentsch Insurance - - No Oct 2018 - Gallery Hair & Nails - - No Jul 2016 - Knowledge Universe - - No Aug 2018 - North Riverside Fitness Inc - - No Aug 2018 - Qi Spa LLC - - No Jun 2016 - Sannaya Inc - - No Jan 2019 - The Grand Strand - - No Jul 2016 - US Army Recruiting Other Office - No Jul 2016 - Women Empowering Women - - No Jan 2019 -
4 7900 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date MetroPCS Wireless Commun 1,500 Yes May 2009 - American Donut - 500 No Aug 2009 - California Drivers Advocates - 500 No Dec 2013 - Cellular Mart - 500 No Oct 2011 - Home Show Consultants - 500 No Jul 2012 - Jurupa Chiropractors - 500 No Aug 2009 - Moreno's Towing - 500 No Oct 2011 -
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4 7900 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date Priority Staffing Services Inc. - 500 No Aug 2013 - Pro Concept Electric Inc. - 500 No Aug 2012 - Productz International Marketingllc - 500 No Oct 2011 - Sun Cal Products - 500 No Oct 2012 - H&R Block Acctg/Tax Prep 424 Yes Nov 2018 - A/C Land Management LLC - - No Nov 2018 - Bumble Bee Waxing & Spa - - No Jul 2016 - C Rae Arias Enterprises Inc - - No Dec 2018 - Canna Care Greens - - No Nov 2018 - E R S Air Duct Cleaning - - No Jul 2016 - Eagle One Inc - - No Nov 2018 - Enterprise Restoration Services - - No Jun 2019 - Green Valley Landscaping & Yard Maintena… - - No Jul 2016 - Healthy Body Nutrition - - No Mar 2016 - Lander Supplies Inc - - No Nov 2018 - Orbitz Logistics Inc - - No Nov 2018 - Post Box Plus - - No Jul 2016 - Robert Leak Air Conditioning - - No Dec 2018 - Sceaf LLC - - No Nov 2018 - Scott-Western Distributing - - No Jul 2016 -
5 7820-7830 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date Unique Threading - 1,300 No Sep 2016 - Chantry's Wine & Liquor - 500 No Jul 2016 - Pure Enterprises Inc - - No Nov 2018 -
6 7800 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date Chase Bank Bank - Yes May 2009 -
7 7850 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date am/pm Convenience Mrkt - Yes Aug 2018 -
8 7850 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date am/pm Convenience Mrkt 2,000 Yes Apr 2018 - ARCO Gasoline Station 1,500 Yes May 2018 -
9 7940 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date Taco Bell Fast-food 2,500 Yes May 2009 -
10 7970 Limonite Ave Store Type SF Occupied Chain Move Date Exp Date Kfc Fast-food 1,120 Yes May 2012 -
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AERIAL VIEW
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DEMOGRAPHICS
Population 1 Mile 3 Miles 5 Miles 10 Miles 20 Min. Drive
Population 12,635 105,809 308,162 1,002,577 272,222
5 Yr Growth 7.0% 5.3% 5.7% 5.5% 5.8%
Median Age 35 32 33 32 32
5 Yr Forecast 36 34 34 34 34
White / Black / Hispanic 81% / 6% / 51% 86% / 5% / 68% 84% / 6% / 65% 78% / 8% / 62% 83% / 6% / 66%
5 Yr Forecast 80% / 6% / 54% 86% / 5% / 70% 83% / 6% / 67% 78% / 8% / 63% 83% / 6% / 68%
Employment 3,045 21,676 95,731 391,935 124,625
Buying Power $280.6M $1.7B $5.1B $17.4B $4.6B
5 Yr Growth 8.7% 6.7% 7.3% 6.5% 8.3%
College Graduates 13.3% 9.5% 12.0% 16.0% 15.2%
Household
Households 3,695 28,076 86,217 279,270 76,614
5 Yr Growth 6.6% 5.0% 5.7% 5.6% 5.8%
Median Household Income $75,932 $60,175 $59,523 $62,378 $60,034
5 Yr Forecast $77,480 $61,135 $60,433 $62,892 $61,459
Average Household Income $93,006 $72,343 $71,569 $78,561 $73,259
5 Yr Forecast $94,949 $73,621 $72,570 $79,383 $74,799
% High Income (>$75k) 51% 38% 38% 41% 38%
Housing
Median Home Value $318,077 $307,097 $312,158 $342,534 $333,913
Median Year Built 1985 1975 1975 1984 1973
Owner / Renter Occupied 78% / 22% 63% / 37% 57% / 43% 59% / 41% 54% / 46%
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TRAFFIC COUNTS
COUNTS BY STREETS
Collection Street Cross Street - Direction Traffic Volume Count Year Dist from Subject 1 Limonite Ave Cam Real - E 21,735 2018 0.12 mi 2 Cam Real Limonite Ave - N 9,176 2018 0.23 mi 3 Cam Real Limonite Ave - S 9,046 2018 0.24 mi 4 Limonite Ave Clay St - SW 26,721 2018 0.32 mi 5 Cam Real Lakeside Dr - N 7,488 2018 0.34 mi
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 10 Market Summary Deanza Country Plaza 7710-7790 Limonite Ave 209,869 SF Community Center Riverside, CA 92509 - Riverside Submarket
PREPARED BY
Debi Myers Owner Inland Empire Market Summary Deanza Country Plaza
Vacancies continue to plague retail properties in the centers, often carefully developed to suit communities Inland Empire, even as the economy continues to with a growing consumer base. For example, many expand, modest inward migration from coastal markets shopping centers that have delivered this cycle resemble bolsters population counts, and consumer spending a recent delivery by Rich Development Company of a continues to grow. Net absorption is outpacing net four-building, 75,000-SF shopping center in Beaumont deliveries over the past 12 months, but much like most of or a three-building, 67,500-SF shopping center in this cycle, only a few large shopping centers have Jurupa Valley that is currently being developed by delivered recently. The Inland Empire has one of the Legend International. That is starting to change with highest vacancy rates in the Nation among metros with Lewis Management’s development of the 400,000 SF populations of one million or greater (62 metros), even Renaissance Marketplace in Rialto last year and the as fundamentals have been improving and the vacancy Chandi Group’s development of the 355,000 SF rate has fallen near its cyclical low. One obstacle has Northgate Crossing in Indio. However, even these been the high frequency of store closures, including projects are much smaller than the largest projects that retailers like Toys "R" Us/Babies "R" Us and delivered during the last cycle. Fallas/Factory 2U. Locally based investors make the most acquisitions in Improving fundamentals has helped market rent growth the market and trades with cap rates above 8% are not outpace inflation as rents grew by 1.4% over the past rare. For example, the 80,000-SF Jess Ranch four quarters. The Inland Empire’s rent growth earlier this Marketplace in Apple Valley traded at an 8.2% cap rate cycle consistently trailed its coastal neighbors in LA and in July 2019. Price appreciation has been healthy as of Orange County, but year-over-year gains now stand 90 late. The market price has grown by roughly 4% per year basis points above those markets. Recent gains have for the last four years, compared to less than 2% growth been strongest in the Inland Empire’s core submarkets, for the national index. However, the losses here during including West San Bernardino, Riverside, and the the downturn were catastrophic and the market price Airport Area; outlying submarkets continue to exhibit the only recently approached it’s pre-recession high of weakest gains. $242/SF in 07Q3. In comparison, the national index grew by 20% over the same period. Most deliveries this cycle have been smaller shopping
NET ABSORPTION, NET DELIVERIES & VACANCY
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 12 Inland Empire Economic Summary Deanza Country Plaza
The Inland Empire’s labor market is as tight as it has the cost of added traffic congestion on freeways and been in over 30 years, with an unemployment rate of major roads, as with that growth comes an increased 4.4% as of September 2019. Job growth continues to amount of truck drivers. Looking forward, consumer- outpace the nation, posting 2.5% year-over-year growth driven expansion in e-commerce is expected to continue that same month. The education and health care sector to benefit the industry, but changes in the nation’s trade continueto be a top contributor, while job growth in policy have started to impact trade flows through the twin logistics has recently slowed. There are a few ports in L.A. impediments to long-term growth, including slower population growth and limited high-wage job The metro continues to offer limited opportunities for opportunities. high-wage sector workers, and wages here are growing at a slower rate than the nation. There are no Fortune The Inland Empire’s population grew by 1.1% in 2018 500 companies in the metro, and few major corporations and has averaged similar growth since 2010. The metro are headquartered in the two-county region. Many tech has historically attracted migration from Los Angeles and companies have instead favored coastal markets in Orange County, and population growth rates averaged Southern California. While some white-collar sectors like 3% in the 1980s, 1990s, and early 2000s. The structural education and health care services have brought more change in population growth from decades ago to now educated workers to the market, there is a cap to how has contributed to less development across most much these local-serving sectors can grow above the property types (outside of industrial), and the economy is rate of population. All in all, wages in the Inland Empire no longer structured around growth-related services (i.e., grew by 2.8% in 2018, a similar rate as the nation. there is a smaller proportion of construction and real However, wages have grown by 2% per year since 2010, estate workers and a larger proportion of health care compared to 2.6% in the nation. workers). Affordable housing has historically been a major driver Inland Empire's relatively inexpensive land, proximity to for population, as the Inland Empire is a bedroom the twin ports in L.A., and proximity to a massive community that attracts residents from its pricier consumer base throughout Southern California has made neighbors in Los Angeles, Orange County, and San it the premier location for logistics firms to expand. As a Diego. The average single-family house in the Inland byproduct of the exponential growth in the logistics Empire costs roughly $360,000. While single-family sector during this cycle, businesses have been rapidly construction has been minimal for much of this cycle, growing payrolls, and development of warehouses and there is some relief is in the pipeline through increased distribution centers has been widespread across the development of multifamily housing. metro. The sector’s growth, however, also comes with
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 13 Inland Empire Economic Summary Deanza Country Plaza
YEAR OVER YEAR JOB GROWTH
Source: Oxford Economics
DEMOGRAPHIC TRENDS
Current Level Current Change 10-Year Change Forecast Change (5 Yrs)
Demographic Category Metro U.S. Metro U.S. Metro U.S. Metro U.S. Population 4,697,202 329,797,344 1.4% 0.7% 1.2% 0.7% 1.4% 0.7% Households 1,378,335 121,406,508 1.2% 0.5% 1.1% 0.6% 1.3% 0.6% Median Household Income $67,368 $65,415 3.9% 4.1% 2.2% 2.6% 3.9% 4.2% Labor Force 2,072,234 163,741,406 0% 0.8% 1.6% 0.6% 1.1% 0.5% Unemployment 4.2% 3.7% 0.2% -0.1% -1.0% -0.6% - - Source: Oxford Economics
POPULATION GROWTH LABOR FORCE GROWTH INCOME GROWTH
Source: Oxford Economics
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 14 Peer Shopping Centers Deanza Country Plaza 7710-7790 Limonite Ave 209,869 SF Community Center Riverside, CA 92509 - Riverside Submarket
PREPARED BY
Debi Myers Owner Peer Shopping Centers Summary Deanza Country Plaza
No. Peers NNN Market Rent Per SF Availability Rate Vacancy Rate 17 $25.82 8.8% 10.6%
PEER LOCATIONS
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Availability Location Center Name / Address Yr Blt/Renov Distance Center GLA Anchor Spcs Avail % Vac % NNN Rent Per SF Score
Inland Empire Center 366,307 1 1971 6.4 mi 62 Cardenas Market 5 9.4% 20.6% $42.84 16755-16873 Valley Blvd SF
Mission Grove Plaza 329,440 Stater Bros. 2 1982/2000 8.7 mi 87 9 6.7% 6.4% $31.71 301-375 E Alessandro Blvd SF Markets
Walmart Corona Hills Marketpl… 290,367 3 1993 7.0 mi 87 Vons 0 0% 0% $26-32 (Est.) SF 401-591 N McKinley St Petsmart Target Gateway Town Center 286,392 4 1995/2000 8.1 mi 65 Winco Foods 4 2.3% 2.3% $25-31 (Est.) SF 1080-1290 Hamner Ave Staples Ralphs Canyon Crest Towne… 248,126 5 1979/1999 7.4 mi 62 Rite Aid 1 0.4% 0.4% $25-30 (Est.) 5225 Canyon Crest Dr SF
Sprouts Mission Village 119,848 6 2003 9 mi 76 CVS Pharmacy 6 2.5% 2.5% $28.19 473-499 E Alessandro Blvd SF
Bed Bath & Beyo… Magnolia Tyler Center 187,526 7 1970 4.8 mi 65 ALDI (US) 3 13.4% 33.9% $27.48 3700-3780 Tyler St SF
Cardenas Arlington Plaza 129,666 8 1960/1984 2.4 mi 55 Rite Aid 3 5.8% 5.8% $22-27 (Est.) 6150-6350 Van Buren Blvd SF
Kohl's Hidden Valley Plaza 170,904 9 2003 7.9 mi 60 Stater Bros Mark… 4 15.5% 15.5% $22-27 (Est.) 450-590 Hidden Valley Pky SF
Albertsons Orangecrest Plaza 111,853 10 1997 9.6 mi 88 Petco Animal Su… 2 2.3% 2.3% $24.51 8938 Trautwein Rd SF
Kmart Shopping Center 150,511 Stater Bros 11 1970 6.6 mi 52 1 31.8% 31.8% $19-24 (Est.) 2995-3001 Iowa Ave SF Markets
Superior Super Ctr Plaza on Sixth Street 176,959 12 1991/2006 10.2 mi 74 Ace Hardware 6 16.0% 7.4% $23.33 1110-1150 W 6th St SF
Nexus Town Center 106,941 Stater Bros 13 1988/2007 5.6 mi 72 0 0% 0% $19-23 (Est.) 3400-3470 La Sierra Ave SF Markets
Burlington Stores North Main Plaza 296,828 14 1970/1992 8.6 mi 61 Smart & Final 2 1.4% 1.4% $21.27 SF 700-784 N Main St Big Lots Food 4 Less Vineyard Valley Center 287,459 15 1983/1992 6.5 mi 58 Big Lots 3 7.8% 7.8% $17-20 (Est.) 17009 Valley Blvd SF
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 17 Peer Shopping Centers Summary Deanza Country Plaza
Availability Location Center Name / Address Yr Blt/Renov Distance Center GLA Anchor Spcs Avail % Vac % NNN Rent Per SF Score Food 4 Less Food 4 Less Center 139,572 16 1989 7.1 mi 78 Dollar Tree 3 45.0% 45.7% $18.44 107-131 N Mckinley St SF
Kmart Deanza Country Plaza 209,869 1979/2005 0 mi 78 Stater Bros. 8 5.4% 5.4% $17.30 SF 7710-7790 Limonite Ave Dollar Tree Food 4 Less Renaissance Center 130,803 17 1989 9.7 mi 64 La Michoacana… 3 11.2% 11.2% $14-17 (Est.) 1304-1438 W Foothill Blvd SF
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 18 Peer Shopping Center Photos Deanza Country Plaza
1 Inland Empire Center 2 Mission Grove Plaza 3 Corona Hills Marketplace 16755-16873 Valley Blvd 301-375 E Alessandro Blvd 401-591 N McKinley St 366,307 SF / Vacancy Rate 20.6% 329,440 SF / Vacancy Rate 6.4% 290,367 SF / Vacancy Rate 0% NNN Rent/SF - $42.84 NNN Rent/SF - $31.71 Rent/SF - $26-32 (Est.) Owner: The Baralat Company Owner: Regional Properties Owner: The Kroenke Group
4 Gateway Town Center 5 Canyon Crest Towne Center 6 Mission Village 1080-1290 Hamner Ave 5225 Canyon Crest Dr 473-499 E Alessandro Blvd 286,392 SF / Vacancy Rate 2.3% 248,126 SF / Vacancy Rate 0.4% 119,848 SF / Vacancy Rate 2.5% Rent/SF - $25-31 (Est.) Rent/SF - $25-30 (Est.) NNN Rent/SF - $28.19 Owner: Target Corporation Owner: Horvath Towers Owner: Regional Properties
7 Magnolia Tyler Center 8 Arlington Plaza 9 Hidden Valley Plaza 3700-3780 Tyler St 6150-6350 Van Buren Blvd 450-590 Hidden Valley Pky 187,526 SF / Vacancy Rate 33.9% 129,666 SF / Vacancy Rate 5.8% 170,904 SF / Vacancy Rate 15.5% NNN Rent/SF - $27.48 Rent/SF - $22-27 (Est.) Rent/SF - $22-27 (Est.) Owner: Riverside Hamner Prop Owner: Sheung Tsam Kam Owner: Kohl's Department Stores, Inc.
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Page 19 Peer Shopping Center Photos Deanza Country Plaza
10 Orangecrest Plaza 11 Kmart Shopping Center 12 Plaza on Sixth Street 8938 Trautwein Rd 2995-3001 Iowa Ave 1110-1150 W 6th St 111,853 SF / Vacancy Rate 2.3% 150,511 SF / Vacancy Rate 31.8% 176,959 SF / Vacancy Rate 7.4% NNN Rent/SF - $24.51 Rent/SF - $19-24 (Est.) NNN Rent/SF - $23.33 Owner: Albertsons Owner: Seritage Growth Properties Owner: Super Center Concepts, Inc.
13 Nexus Town Center 14 North Main Plaza 15 Vineyard Valley Center 3400-3470 La Sierra Ave 700-784 N Main St 17009 Valley Blvd 106,941 SF / Vacancy Rate 0% 296,828 SF / Vacancy Rate 1.4% 287,459 SF / Vacancy Rate 7.8% Rent/SF - $19-23 (Est.) NNN Rent/SF - $21.27 Rent/SF - $17-20 (Est.) Owner: Lion Properties, LLC Owner: Arizona Partners Retail Inves… Owner: Luko Management
Subject Center
16 Food 4 Less Center Deanza Country Plaza 17 Renaissance Center 107-131 N Mckinley St 7710-7790 Limonite Ave 1304-1438 W Foothill Blvd 139,572 SF / Vacancy Rate 45.7% 209,869 SF / Vacancy Rate 5.4% 130,803 SF / Vacancy Rate 11.2% NNN Rent/SF - $18.44 NNN Rent/SF - $17.30 Rent/SF - $14-17 (Est.) Owner: Chang & Elizabeth Kim Owner: Sears Holdings Corporation Owner: Mccloskey Family Trust
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Page 20 Peer Shopping Center Details Deanza Country Plaza
1 Inland Empire Center - 16755-16873 Valley Blvd Distance to Subject Center: 6.4 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 20.6% 5.4% Available SF: 34,431 12,180 Available Spaces: 5 8 NNN Asking Rent: $42.84/SF/Yr $17.30/SF/Yr Months To Lease: 4 17 Time On Market: 3 mo 25 mo Location Score: Good Location (62) Excellent Location (78) Walk Score®: Somewhat Walkable (68) Somewhat Walkable (68) Transit Score®: Some Transit (40) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 388.57 AC GLA: 366,307 SF # of Properties: 17 Anchor GLA: 80,000 SF Yr Blt/Renov: Built 1971 Anchor Tenant: Cardenas Market Parking: 1,227 Surface Spaces Features: Dedicated Turn Lane, Freeway Visibility, Property Manager on Site,… Frontage: Valley Blvd 1,670', Valley Blvd 594'
2 Mission Grove Plaza - 301-375 E Alessandro Blvd Distance to Subject Center: 8.7 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 6.4% 5.4% Available SF: 22,342 12,180 Available Spaces: 9 8 NNN Asking Rent: $31.71/SF/Yr $17.30/SF/Yr Months To Lease: 43 17 Time On Market: 17 mo 25 mo Location Score: Excellent Location (87) Excellent Location (78) Walk Score®: Very Walkable (70) Somewhat Walkable (68) Transit Score®: Some Transit (33) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 91.45 AC GLA: 329,440 SF # of Properties: 15 Anchor GLA: 45,000 SF Yr Blt/Renov: Built 1982, Renov 2000 Anchor Tenant: Stater Bros. Markets Parking: 3,710 Surface Spaces Features: Dedicated Turn Lane, Property Manager on Site, Pylon Sign, Resta… Frontage: E Alessandro Blvd 1,542', Alessandro Blvd 776'
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3 Corona Hills Marketplace - 401-591 N McKinley St Distance to Subject Center: 7.0 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 0% 5.4% Available SF: - 12,180 Available Spaces: 0 8 NNN Asking Rent: $26-32 (Est.) $17.30/SF/Yr Months To Lease: - 17 Time On Market: - 25 mo Location Score: Excellent Location (87) Excellent Location (78) Walk Score®: Very Walkable (77) Somewhat Walkable (68) Transit Score®: Some Transit (27) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 29.27 AC GLA: 290,367 SF # of Properties: 9 Anchor GLA: 206,116 SF Yr Blt/Renov: Built 1993 Anchor Tenant: Vons, Petsmart, Walmart Parking: 1,542 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Restaurant, Signage, Signalized… Frontage: N McKinley St 1,102', N McKinley St 559'
4 Gateway Town Center - 1080-1290 Hamner Ave Distance to Subject Center: 8.1 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 2.3% 5.4% Available SF: 6,525 12,180 Available Spaces: 4 8 NNN Asking Rent: $25-31 (Est.) $17.30/SF/Yr Months To Lease: 20 17 Time On Market: 30 mo 25 mo Location Score: Good Location (65) Excellent Location (78) Walk Score®: Somewhat Walkable (58) Somewhat Walkable (68) Transit Score®: Some Transit (25) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 46.12 AC GLA: 286,392 SF # of Properties: 11 Anchor GLA: 222,396 SF Yr Blt/Renov: Built 1995, Renov 2000 Anchor Tenant: Winco Foods, Staples, Target Parking: 2,390 Surface Spaces Features: Bus Line, Dedicated Turn Lane, Pylon Sign, Signalized Intersection Frontage: Hamner Ave 1,452', Hamner Ave 655'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 22 Peer Shopping Center Details Deanza Country Plaza
5 Canyon Crest Towne Center - 5225 Canyon Crest Dr Distance to Subject Center: 7.4 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 0.4% 5.4% Available SF: 1,335 12,180 Available Spaces: 1 8 NNN Asking Rent: $25-30 (Est.) $17.30/SF/Yr Months To Lease: - 17 Time On Market: - 25 mo Location Score: Good Location (62) Excellent Location (78) Walk Score®: Somewhat Walkable (67) Somewhat Walkable (68) Transit Score®: Some Transit (32) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 27.81 AC GLA: 248,126 SF # of Properties: 20 Anchor GLA: 117,621 SF Yr Blt/Renov: Built 1979, Renov 1999 Anchor Tenant: Ralphs, Rite Aid Parking: 1,665 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Signalized Intersection Frontage: Central Ave 1,118', Central Ave 684'
6 Mission Village - 473-499 E Alessandro Blvd Distance to Subject Center: 9 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 2.5% 5.4% Available SF: 3,200 12,180 Available Spaces: 6 8 NNN Asking Rent: $28.19/SF/Yr $17.30/SF/Yr Months To Lease: - 17 Time On Market: 113 mo 25 mo Location Score: Excellent Location (76) Excellent Location (78) Walk Score®: Somewhat Walkable (66) Somewhat Walkable (68) Transit Score®: Some Transit (33) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 22.27 AC GLA: 119,848 SF # of Properties: 13 Anchor GLA: 34,754 SF Yr Blt/Renov: Built 2003 Anchor Tenant: Sprouts, CVS Pharmacy Parking: 767 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Signalized Intersection Frontage: E Alessandro Blvd 1,220', E Alessandro Blvd 497'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 23 Peer Shopping Center Details Deanza Country Plaza
7 Magnolia Tyler Center - 3700-3780 Tyler St Distance to Subject Center: 4.8 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 33.9% 5.4% Available SF: 25,189 12,180 Available Spaces: 3 8 NNN Asking Rent: $27.48/SF/Yr $17.30/SF/Yr Months To Lease: 13 17 Time On Market: 14 mo 25 mo Location Score: Good Location (65) Excellent Location (78) Walk Score®: Very Walkable (73) Somewhat Walkable (68) Transit Score®: Some Transit (47) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 17.94 AC GLA: 187,526 SF # of Properties: 7 Anchor GLA: 35,248 SF Yr Blt/Renov: Built 1970 Anchor Tenant: ALDI (US), Bed Bath & Beyond Parking: 856 Surface Spaces Features: Bus Line, Dedicated Turn Lane, Pylon Sign, Signage, Signalized Int… Frontage: Tyler St 993', Magnolia Ave 405'
8 Arlington Plaza - 6150-6350 Van Buren Blvd Distance to Subject Center: 2.4 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 5.8% 5.4% Available SF: 7,500 12,180 Available Spaces: 3 8 NNN Asking Rent: $22-27 (Est.) $17.30/SF/Yr Months To Lease: 32 17 Time On Market: 24 mo 25 mo Location Score: Good Location (55) Excellent Location (78) Walk Score®: Very Walkable (75) Somewhat Walkable (68) Transit Score®: Some Transit (31) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 50.46 AC GLA: 129,666 SF # of Properties: 8 Anchor GLA: 58,295 SF Yr Blt/Renov: Built 1960, Renov 1984 Anchor Tenant: Cardenas, Rite Aid Parking: 585 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Signalized Intersection Frontage: Van Buren Blvd 460', Arlington Ave 233'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 24 Peer Shopping Center Details Deanza Country Plaza
9 Hidden Valley Plaza - 450-590 Hidden Valley Pky Distance to Subject Center: 7.9 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 15.5% 5.4% Available SF: 27,213 12,180 Available Spaces: 4 8 NNN Asking Rent: $22-27 (Est.) $17.30/SF/Yr Months To Lease: 8 17 Time On Market: 6 mo 25 mo Location Score: Good Location (60) Excellent Location (78) Walk Score®: Car-Dependent (43) Somewhat Walkable (68) Transit Score®: Minimal Transit (24) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 19.41 AC GLA: 170,904 SF # of Properties: 8 Anchor GLA: 108,999 SF Yr Blt/Renov: Built 2003 Anchor Tenant: Stater Bros Markets, Kohl's Parking: 1,570 Surface Spaces Features: Dedicated Turn Lane, Freeway Visibility, Pylon Sign, Signalized Int… Frontage: Hidden Valley Pky 1,194', Hidfden Valley Pky 194'
10 Orangecrest Plaza - 8938 Trautwein Rd Distance to Subject Center: 9.6 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 2.3% 5.4% Available SF: 2,528 12,180 Available Spaces: 2 8 NNN Asking Rent: $24.51/SF/Yr $17.30/SF/Yr Months To Lease: 12 17 Time On Market: 3 mo 25 mo Location Score: Excellent Location (88) Excellent Location (78) Walk Score®: Somewhat Walkable (58) Somewhat Walkable (68) Transit Score®: Some Transit (31) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 14.88 AC GLA: 111,853 SF # of Properties: 9 Anchor GLA: 65,000 SF Yr Blt/Renov: Built 1997 Anchor Tenant: Albertsons, Petco Animal Supplies Parking: 1,074 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Signalized Intersection Frontage: Van Buren Blvd 1,103', Trautwein Rd 748'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 25 Peer Shopping Center Details Deanza Country Plaza
11 Kmart Shopping Center - 2995-3001 Iowa Ave Distance to Subject Center: 6.6 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 31.8% 5.4% Available SF: 48,427 12,180 Available Spaces: 1 8 NNN Asking Rent: $19-24 (Est.) $17.30/SF/Yr Months To Lease: - 17 Time On Market: 28 mo 25 mo Location Score: Good Location (52) Excellent Location (78) Walk Score®: Somewhat Walkable (53) Somewhat Walkable (68) Transit Score®: Some Transit (43) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 30.04 AC GLA: 150,511 SF # of Properties: 9 Anchor GLA: 34,693 SF Yr Blt/Renov: Built 1970 Anchor Tenant: Stater Bros Markets Parking: 533 Surface Spaces Features: Bus Line, Dedicated Turn Lane, Pylon Sign, Signage, Signalized Int… Frontage: Iowa Ave 867', Massachusetts Ave 306'
12 Plaza on Sixth Street - 1110-1150 W 6th St Distance to Subject Center: 10.2 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 7.4% 5.4% Available SF: 28,235 12,180 Available Spaces: 6 8 NNN Asking Rent: $23.33/SF/Yr $17.30/SF/Yr Months To Lease: 65 17 Time On Market: 25 mo 25 mo Location Score: Excellent Location (74) Excellent Location (78) Walk Score®: Very Walkable (71) Somewhat Walkable (68) Transit Score®: Some Transit (35) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 17.55 AC GLA: 176,959 SF # of Properties: 10 Anchor GLA: 51,630 SF Yr Blt/Renov: Built 1991, Renov 2006 Anchor Tenant: Superior Super Ctr, Ace Hardware Parking: 752 Surface Spaces Features: Bus Line, Dedicated Turn Lane, Pylon Sign, Signage, Signalized Int… Frontage: W 6th St 986', W 6th St 346'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 26 Peer Shopping Center Details Deanza Country Plaza
13 Nexus Town Center - 3400-3470 La Sierra Ave Distance to Subject Center: 5.6 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 0% 5.4% Available SF: - 12,180 Available Spaces: 0 8 NNN Asking Rent: $19-23 (Est.) $17.30/SF/Yr Months To Lease: - 17 Time On Market: - 25 mo Location Score: Excellent Location (72) Excellent Location (78) Walk Score®: Somewhat Walkable (69) Somewhat Walkable (68) Transit Score®: Some Transit (40) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 20.63 AC GLA: 106,941 SF # of Properties: 7 Anchor GLA: 34,000 SF Yr Blt/Renov: Built 1988, Renov 2007 Anchor Tenant: Stater Bros Markets Parking: 560 Surface Spaces Features: Pylon Sign, Signalized Intersection Frontage: La Sierra Ave 783', La Sierra Ave 166'
14 North Main Plaza - 700-784 N Main St Distance to Subject Center: 8.6 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 1.4% 5.4% Available SF: 4,260 12,180 Available Spaces: 2 8 NNN Asking Rent: $21.27/SF/Yr $17.30/SF/Yr Months To Lease: 29 17 Time On Market: 42 mo 25 mo Location Score: Good Location (61) Excellent Location (78) Walk Score®: Somewhat Walkable (64) Somewhat Walkable (68) Transit Score®: Some Transit (29) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 40.37 AC GLA: 296,828 SF # of Properties: 6 Anchor GLA: 126,615 SF Yr Blt/Renov: Built 1970, Renov 1992 Anchor Tenant: Smart & Final, Big Lots, Burlington Stores, Walgreens Parking: 1,205 Surface Spaces Features: Bus Line, Dedicated Turn Lane, Pylon Sign, Signage, Signalized Int… Frontage: N Main St 756', Parkridge Ave 727'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 27 Peer Shopping Center Details Deanza Country Plaza
15 Vineyard Valley Center - 17009 Valley Blvd Distance to Subject Center: 6.5 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 7.8% 5.4% Available SF: 22,358 12,180 Available Spaces: 3 8 NNN Asking Rent: $17-20 (Est.) $17.30/SF/Yr Months To Lease: 3 17 Time On Market: 46 mo 25 mo Location Score: Good Location (58) Excellent Location (78) Walk Score®: Somewhat Walkable (62) Somewhat Walkable (68) Transit Score®: Some Transit (38) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 59.77 AC GLA: 287,459 SF # of Properties: 11 Anchor GLA: 68,376 SF Yr Blt/Renov: Built 1983, Renov 1992 Anchor Tenant: Food 4 Less, Big Lots Parking: 890 Surface Spaces Features: Concierge, Dedicated Turn Lane, Freeway Visibility, Pool, Property… Frontage: Valley Blvd 2,690', Valley 240'
16 Food 4 Less Center - 107-131 N Mckinley St Distance to Subject Center: 7.1 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 45.7% 5.4% Available SF: 62,750 12,180 Available Spaces: 3 8 NNN Asking Rent: $18.44/SF/Yr $17.30/SF/Yr Months To Lease: 32 17 Time On Market: 15 mo 25 mo Location Score: Excellent Location (78) Excellent Location (78) Walk Score®: Very Walkable (80) Somewhat Walkable (68) Transit Score®: Some Transit (36) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 10.72 AC GLA: 139,572 SF # of Properties: 8 Anchor GLA: 62,500 SF Yr Blt/Renov: Built 1989 Anchor Tenant: Food 4 Less, Dollar Tree Parking: 486 Surface Spaces Features: Pylon Sign, Signalized Intersection Frontage: McKinley St 643', Magnolia Ave 341'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 28 Peer Shopping Center Details Deanza Country Plaza
17 Renaissance Center - 1304-1438 W Foothill Blvd Distance to Subject Center: 9.7 mi
COMPARISON THIS CENTER SUBJECT Vacancy %: 11.2% 5.4% Available SF: 14,598 12,180 Available Spaces: 3 8 NNN Asking Rent: $14-17 (Est.) $17.30/SF/Yr Months To Lease: 15 17 Time On Market: 2 mo 25 mo Location Score: Good Location (64) Excellent Location (78) Walk Score®: Somewhat Walkable (53) Somewhat Walkable (68) Transit Score®: Some Transit (32) Some Transit (26)
SHOPPING CENTER Type: Community Center Land Acres: 15.36 AC GLA: 130,803 SF # of Properties: 5 Anchor GLA: 49,859 SF Yr Blt/Renov: Built 1989 Anchor Tenant: Food 4 Less, La Michoacana Meat Market Parking: 422 Surface Spaces Features: Pylon Sign Frontage: W Foothill Blvd 423', Cedar 420'
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 29 Peer Shopping Center Comparison Deanza Country Plaza
Center Name / Address NNN Asking Rent Per SF Vacancy Rate Inland Empire Center 1 $42.84 20.6% 16755-16873 Valley Blvd Mission Grove Plaza 2 $31.71 6.4% 301-375 E Alessandro Blvd Corona Hills Marketplace 3 $26-32 (Est.) 0% 401-591 N McKinley St Gateway Town Center 4 $25-31 (Est.) 2.3% 1080-1290 Hamner Ave Canyon Crest Towne Center 5 $25-30 (Est.) 0.4% 5225 Canyon Crest Dr Mission Village 6 $28.19 2.5% 473-499 E Alessandro Blvd Magnolia Tyler Center 7 $27.48 33.9% 3700-3780 Tyler St Arlington Plaza 8 $22-27 (Est.) 5.8% 6150-6350 Van Buren Blvd Hidden Valley Plaza 9 $22-27 (Est.) 15.5% 450-590 Hidden Valley Pky Orangecrest Plaza 10 $24.51 2.3% 8938 Trautwein Rd Kmart Shopping Center 11 $19-24 (Est.) 31.8% 2995-3001 Iowa Ave Plaza on Sixth Street 12 $23.33 7.4% 1110-1150 W 6th St Nexus Town Center 13 $19-23 (Est.) 0% 3400-3470 La Sierra Ave North Main Plaza 14 $21.27 1.4% 700-784 N Main St Vineyard Valley Center 15 $17-20 (Est.) 7.8% 17009 Valley Blvd Food 4 Less Center 16 $18.44 45.7% 107-131 N Mckinley St Deanza Country Plaza $17.30 5.4% 7710-7790 Limonite Ave Renaissance Center 17 $14-17 (Est.) 11.2% 1304-1438 W Foothill Blvd
Average $25.97 10.1% (Arrows indicate trend over last quarter)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 30 Peer Shopping Center Comparison Deanza Country Plaza
Center Name / Address Availability Rate Vacancy Rate Food 4 Less Center 16 45.0% 45.7% 107-131 N Mckinley St Kmart Shopping Center 11 31.8% 31.8% 2995-3001 Iowa Ave Plaza on Sixth Street 12 16.0% 7.4% 1110-1150 W 6th St Hidden Valley Plaza 9 15.5% 15.5% 450-590 Hidden Valley Pky Magnolia Tyler Center 7 13.4% 33.9% 3700-3780 Tyler St Renaissance Center 17 11.2% 11.2% 1304-1438 W Foothill Blvd Inland Empire Center 1 9.4% 20.6% 16755-16873 Valley Blvd Vineyard Valley Center 15 7.8% 7.8% 17009 Valley Blvd Mission Grove Plaza 2 6.7% 6.4% 301-375 E Alessandro Blvd Arlington Plaza 8 5.8% 5.8% 6150-6350 Van Buren Blvd Deanza Country Plaza 5.4% 5.4% 7710-7790 Limonite Ave Mission Village 6 2.5% 2.5% 473-499 E Alessandro Blvd Gateway Town Center 4 2.3% 2.3% 1080-1290 Hamner Ave Orangecrest Plaza 10 2.3% 2.3% 8938 Trautwein Rd North Main Plaza 14 1.4% 1.4% 700-784 N Main St Canyon Crest Towne Center 5 0.4% 0.4% 5225 Canyon Crest Dr Corona Hills Marketplace 3 0% 0% 401-591 N McKinley St Nexus Town Center 13 0% 0% 3400-3470 La Sierra Ave
Average 8.4% 10.1% (Arrows indicate trend over last quarter)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 31 Peer Shopping Center Comparison Deanza Country Plaza
Center Name / Address NNN Asking Rent Per SF Median Months on Market Inland Empire Center 1 $42.84 3 16755-16873 Valley Blvd Mission Grove Plaza 2 $31.71 17 301-375 E Alessandro Blvd Corona Hills Marketplace 3 $26-32 (Est.) - 401-591 N McKinley St Gateway Town Center 4 $25-31 (Est.) 30 1080-1290 Hamner Ave Canyon Crest Towne Center 5 $25-30 (Est.) - 5225 Canyon Crest Dr Mission Village 6 $28.19 113 473-499 E Alessandro Blvd Magnolia Tyler Center 7 $27.48 14 3700-3780 Tyler St Arlington Plaza 8 $22-27 (Est.) 24 6150-6350 Van Buren Blvd Hidden Valley Plaza 9 $22-27 (Est.) 6 450-590 Hidden Valley Pky Orangecrest Plaza 10 $24.51 3 8938 Trautwein Rd Kmart Shopping Center 11 $19-24 (Est.) 28 2995-3001 Iowa Ave Plaza on Sixth Street 12 $23.33 25 1110-1150 W 6th St Nexus Town Center 13 $19-23 (Est.) - 3400-3470 La Sierra Ave North Main Plaza 14 $21.27 42 700-784 N Main St Vineyard Valley Center 15 $17-20 (Est.) 46 17009 Valley Blvd Food 4 Less Center 16 $18.44 15 107-131 N Mckinley St Deanza Country Plaza $17.30 25 7710-7790 Limonite Ave Renaissance Center 17 $14-17 (Est.) 2 1304-1438 W Foothill Blvd
Average $25.97 26 (Arrows indicate trend over last quarter)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 32 Peer Shopping Center Comparison Deanza Country Plaza
Center Name / Address 12 Mo. Leasing Activity in SF 12 Mo. Net Absorption in SF Magnolia Tyler Center 7 71,775 71,775 3700-3780 Tyler St Inland Empire Center 1 49,262 49,262 16755-16873 Valley Blvd Renaissance Center 17 6,724 6,724 1304-1438 W Foothill Blvd Gateway Town Center 4 4,774 4,774 1080-1290 Hamner Ave North Main Plaza 14 4,375 4,375 700-784 N Main St Hidden Valley Plaza 9 4,153 4,153 450-590 Hidden Valley Pky Orangecrest Plaza 10 4,027 4,027 8938 Trautwein Rd Nexus Town Center 13 3,756 3,756 3400-3470 La Sierra Ave Mission Grove Plaza 2 2,785 2,785 301-375 E Alessandro Blvd Food 4 Less Center 16 1,084 1,084 107-131 N Mckinley St Corona Hills Marketplace 3 0 0 401-591 N McKinley St Canyon Crest Towne Center 5 0 0 5225 Canyon Crest Dr Mission Village 6 0 0 473-499 E Alessandro Blvd Arlington Plaza 8 0 0 6150-6350 Van Buren Blvd Kmart Shopping Center 11 0 0 2995-3001 Iowa Ave Plaza on Sixth Street 12 0 0 1110-1150 W 6th St Vineyard Valley Center 15 0 0 17009 Valley Blvd Deanza Country Plaza 0 0 7710-7790 Limonite Ave
Average 8,484 -2,084
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 33 Peer Shopping Center Comparison Deanza Country Plaza
Center Name / Address NNN Asking Rent Per SF Median Household Income (5 mi) Inland Empire Center 1 $42.84 $56,078 16755-16873 Valley Blvd Mission Grove Plaza 2 $31.71 $63,228 301-375 E Alessandro Blvd Corona Hills Marketplace 3 $26-32 (Est.) $65,610 401-591 N McKinley St Gateway Town Center 4 $25-31 (Est.) $78,390 1080-1290 Hamner Ave Canyon Crest Towne Center 5 $25-30 (Est.) $60,236 5225 Canyon Crest Dr Mission Village 6 $28.19 $62,293 473-499 E Alessandro Blvd Magnolia Tyler Center 7 $27.48 $63,464 3700-3780 Tyler St Arlington Plaza 8 $22-27 (Est.) $61,919 6150-6350 Van Buren Blvd Hidden Valley Plaza 9 $22-27 (Est.) $77,155 450-590 Hidden Valley Pky Orangecrest Plaza 10 $24.51 $76,748 8938 Trautwein Rd Kmart Shopping Center 11 $19-24 (Est.) $56,805 2995-3001 Iowa Ave Plaza on Sixth Street 12 $23.33 $75,018 1110-1150 W 6th St Nexus Town Center 13 $19-23 (Est.) $62,098 3400-3470 La Sierra Ave North Main Plaza 14 $21.27 $77,927 700-784 N Main St Vineyard Valley Center 15 $17-20 (Est.) $55,228 17009 Valley Blvd Food 4 Less Center 16 $18.44 $66,952 107-131 N Mckinley St Deanza Country Plaza $17.30 $59,523 7710-7790 Limonite Ave Renaissance Center 17 $14-17 (Est.) $53,345 1304-1438 W Foothill Blvd
Average $25.97 $65,112 (Arrows indicate trend over last quarter)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 34 Leasing Analytics Deanza Country Plaza 7710-7790 Limonite Ave 209,869 SF Community Center Riverside, CA 92509 - Riverside Submarket
PREPARED BY
Debi Myers Owner Inland Empire Vacancy Analytics Deanza Country Plaza
INLAND EMPIRE VACANCY OVERVIEW
Given the healthy economic conditions, vacancies remain former Toys “R” Us in Riverside with a 19Q4 projected stubbornly high. Store closures have plagued the market move in date. for several years. National Stores, the parent company of discount-retailers Fallas and Factory 2U, recently filed Leasing by fitness gyms has also become a growing for bankruptcy protection and started closing down over trend. Planet Fitness opened up in Rialto in December a hundred stores—including several in the Inland Empire. 2018, while Chuze Fitness has leased space in San Last year, Toys "R" Us/Babies "R" Us closed several Bernardino and Blink Fitness has leased space in Rialto stores in the market as well. with future movein dates.
Retail stores in the Inland Empire are especially Demand has shifted away from traditional enclosed dependent on local consumers as the Inland Empire shopping malls—similar to the national trend. The attracts only a modest number of leisure travelers. In line Carousel Mall in San Bernardino recently closed its with local demand, roughly 40% of retail inventory is in doors for good and may be redeveloped for future use. neighborhood centers, compared to 26% nationally. A On the other hand, demand continues to grow for open- few exceptions are the metro's various outlet centers, door malls like the recently developed Renaissance including Ontario Mills, the Cabazon Outlets, and the Marketplace in Rialto. There are now also three food Outlets at Lake Elsinore. halls in the metro—the newest being a Cravings Food Village in Chino Hills that opened in October 2018. The Inland Empire lacks tourist appeal, and the employment profile here favors trade and warehouse The growth in ecommerce has been a boon to the local jobs, which pay lower wages and lead to less disposable logistics industry, but it’s impact on brick and mortar income. As a result, many of the largest leases executed stores has been undesirable. Over the next five years, recently involve discount retailers and grocery stores. For vacancies are projected to increase to around example, ALDI, Daiso, and Dollar General have all 7.6%—about 20 basis points below the metro’s average opened several stores across the metro recently. since 2006. Northgate-Gonzales recently leased 39,750 SF at a
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 36 Inland Empire Vacancy Analytics Deanza Country Plaza
VACANCY RATE
VACANCY RATE
Subject Peers Riverside Inland Empire
Vacancy Trend (YOY) Vacancy Trend (YOY) Vacancy Trend (YOY) Vacancy Trend (YOY) 2013 2.3% -0.5% 5.1% -0.9% 7.1% -0.4% 8.6% -0.5% 2014 0% -2.3% 6.5% 1.4% 6.6% -0.6% 8.2% -0.4% 2015 0% 0% 5.3% -1.2% 6.1% -0.5% 8.1% -0.1% 2016 3.3% 3.3% 8.8% 3.5% 5.9% -0.2% 7.3% -0.8% 2017 3.9% 0.6% 8.7% -0.1% 6.0% 0.1% 7.4% 0% 2018 3.6% -0.3% 7.9% -0.9% 5.8% -0.2% 7.1% -0.3% YTD 4.3% 0.6% 10.6% 2.7% 6.2% 0.3% 6.8% -0.3% 2020 9.3% 1.4% 5.9% 0.1% 6.8% -0.3%
2021 Forecast > 8.1% -1.2% 6.1% 0.2% 7.0% 0.2% 2022 8.2% 0.1% 6.3% 0.2% 7.1% 0.1% 2023 8.2% 0% 6.4% 0.2% 7.3% 0.2%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 37 Inland Empire Vacancy Analytics Deanza Country Plaza
AVAILABILITY RATE
AVAILABILITY RATE
Subject Peers Riverside Inland Empire
Availability Trend (YOY) Availability Trend (YOY) Availability Trend (YOY) Availability Trend (YOY) 2013 2.8% 0% 6.7% -2.5% 9.2% -0.2% 10.9% -0.3% 2014 0% 0% 8.5% -0.3% 8.5% 0.0% 10.7% 0.0% 2015 0% 0% 5.8% 0.0% 7.2% -0.1% 10.2% 0.1% 2016 3.3% 0% 9.7% 1.6% 7.5% -0.2% 9.4% -0.4% 2017 3.9% 0% 9.1% 1.1% 8.0% -0.3% 9.2% -0.4% 2018 3.6% 0% 8.2% -0.3% 7.7% -0.4% 8.7% -0.3% 2019 YTD 0% -3.6% 0% -9.3% 0% -7.9% 0% -8.3% 2019 0% -9.3% 0% -7.9% 0% -8.3%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 38 Inland Empire Vacancy Analytics Deanza Country Plaza
MEDIAN MONTHS ON MARKET
MEDIAN MONTHS ON MARKET
Peers Riverside Inland Empire 2009 10.2 7.9 8.4 2010 10.5 12.7 12.4 2011 11.6 15.0 15.7 2012 17.6 17.9 18.6 2013 21.3 17.8 20.4 2014 24.1 20.4 22.2 2015 22.9 23.5 23.5 2016 19.0 20.6 20.9 2017 16.3 14.9 16.7 2018 11.4 12.1 12.8 2019 17.6 11.4 12.2
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 39 Inland Empire Vacancy Analytics Deanza Country Plaza
RENEWAL RATES
RENEWAL RATES
Riverside Inland Empire 2009 67.4% 61.7% 2010 79.2% 77.2% 2011 79.1% 77.0% 2012 77.9% 77.6% 2013 80.3% 81.0% 2014 86.7% 83.5% 2015 86.2% 80.3% 2016 83.5% 80.4% 2017 73.2% 70.0% 2018 74.0% 68.1% 2019 70.0% 69.9%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 40 Rent Analytics Deanza Country Plaza
INLAND EMPIRE RENT TRENDS
The high frequency of store closures lately is having an submarkets are also attracting the most housing impact on rents, as rent growth decelerated to 1.4% over development and contain the biggest job nodes in the the past four quarters, compared to 4% growth in 18Q3. metro. In contrast, rents in other parts of Riverside Recent gains are outpacing growth in LA and Orange County are growing least. Corona and Riverside Outlying County, but trailing San Diego. The average asking rent rents grew by 0.3% and 1% over the same period. remains 15% below its peak in 07Q3. The metro’s under performance over the longer-horizon The Inland Empire’s core submarkets are demonstrating coincides with the ongoing changes in how consumer the highest gains. West San Bernardino, Airport Area, purchases are shifting toward online sales. With slower and Riverside rents grew the most from 18Q3 to 19Q3, economic growth projected over the next five years, rent growing by 3.7%, 3.4%, and 3.2%, respectively. These growth is projected to decelerate below 2% after 2020.
NNN RENT PER SQUARE FOOT
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 41 Rent Analytics Deanza Country Plaza
NNN RENT PER SQUARE FOOT
Subject Peers Riverside Inland Empire
Direct Rent Trend (YOY) Market Rent Trend (YOY) Market Rent Trend (YOY) Market Rent Trend (YOY) 2013 $14.64 -2% $20.47 1.3% $19.05 0.6% $18.11 0.7% 2014 - - $21.26 3.9% $19.64 3.1% $18.60 2.7% 2015 - - $21.99 3.4% $20.40 3.9% $19.21 3.3% 2016 $14.40 - $23.14 5.2% $21.06 3.2% $19.82 3.1% 2017 $14.88 3.4% $24.82 7.3% $21.96 4.3% $20.66 4.2% 2018 $15.00 0.8% $25.84 4.1% $23.07 5.1% $21.50 4.1% YTD $15.61 4.1% $25.82 0% $23.42 1.5% $21.68 0.8% 2020 $26.15 1.2% $23.51 1.9% $22.18 3.2%
2021 Forecast > $26.49 1.3% $24.11 2.6% $22.54 1.6% 2022 $26.78 1.1% $24.56 1.9% $22.83 1.3% 2023 $26.98 0.8% $24.90 1.4% $23.02 0.8%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 42 Absorption Analytics Deanza Country Plaza
NET ABSORPTION IN PEERS IN SQUARE FEET
NET ABSORPTION IN RIVERSIDE SUBMARKET IN SQUARE FEET
NET ABSORPTION IN INLAND EMPIRE IN SQUARE FEET
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 43 Leasing Analytics Deanza Country Plaza
LEASING ACTIVITY IN PEERS IN SQUARE FEET
LEASING ACTIVITY IN RIVERSIDE SUBMARKET IN SQUARE FEET
LEASING ACTIVITY IN INLAND EMPIRE IN SQUARE FEET
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 44 Leasing Analytics Deanza Country Plaza
SUBLEASE SPACE AVAILABLE IN INLAND EMPIRE IN SQUARE FEET
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 45 Construction Deanza Country Plaza 7710-7790 Limonite Ave 209,869 SF Community Center Riverside, CA 92509 - Riverside Submarket
PREPARED BY
Debi Myers Owner Overall Construction Summary Deanza Country Plaza
All-Time Annual Avg. SF Delivered SF Past 8 Qtrs Delivered SF Next 8 Qtrs Proposed SF Next 8 Qtrs 772,892 1,864,239 227,714 2,399,305
PAST 8 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED
PAST & FUTURE DELIVERIES IN SQUARE FEET
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 47 Inland Empire Construction Deanza Country Plaza
The pace of deliveries throughout this cycle has been 400,000 SF, including a 198,000-SF Walmart. Leasing tame, with about 1.5 million SF delivered in 2018 and has been strong in the outdoor shopping center, with around 750,000 SF expected in 2019. In comparison, tenants such as Burlington, 24 Hour Fitness, and Ross more than 6.5 million SF delivered in both 2007 and Stores signed on. Meanwhile, Montclair Place is 2008, the peak of the last cycle. Most recent undergoing renovations that will convert former anchor- developments also tend to be smaller shopping centers, space to a top floor AMC movie theater and bottom floor carefully located next to growing residential communities. dining with entertainment areas. This is one of the first Even the largest projects are much smaller versions of major projects in the Inland Empire that emphasizes the retail centers developed during the last cycle. demand for experiential retail in modern shopping malls that has been highlighted in major markets across the One of the market's largest recent additions is the nation. Renaissance Marketplace in Rialto. The center has
DELIVERIES & DEMOLITIONS
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 48 Riverside Construction Deanza Country Plaza
DELIVERIES & DEMOLITIONS
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 49 Riverside Construction Deanza Country Plaza
All-Time Annual Avg. SF Delivered SF Past 8 Qtrs Delivered SF Next 8 Qtrs Proposed SF Next 8 Qtrs 330,904 741,630 358,807 1,907,969
PAST 8 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED
PAST & FUTURE DELIVERIES IN SQUARE FEET
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 50 Riverside Construction Deanza Country Plaza
RECENT DELIVERIES
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner 1973 Foothill Parkway - 1 19,500 1 Nov-2018 Oct-2019 - 22100 Eucalyptus Ave - 2 40,000 4 Mar-2018 Sep-2019 MMP Properties Bldg C - 3 15,000 1 Jan-2017 Aug-2019 6240 Mission Blvd Legend International Inv Lp Bldg B - 4 34,713 - Jan-2017 Aug-2019 6260 Mission Blvd - Norco Gateway - 5 34,300 1 Feb-2019 Jul-2019 1451 6th St - 393 Beaumont Ave - 6 5,569 1 Apr-2018 Jun-2019 Marwan Alabbasi 1605 E 2nd St - 7 75,000 1 Apr-2018 Apr-2019 Rich Development Enterprises LLC 10920 Magnolia Ave Grae Ventures 8 9,520 1 Feb-2018 Apr-2019 Grae Ventures 235 Iowa Ave - 9 1,224 1 Mar-2018 Apr-2019 24 Apartment Complex Services Inc 1660 E 1st St - 10 14,608 1 Dec-2018 Apr-2019 - Day St & Eucalyptus Ave… - 11 5,199 1 Dec-2018 Apr-2019 12980 Day St - Sit 'n Sleep - 12 8,200 1 Mar-2018 Feb-2019 12550 Day St Moreno Valley Sleep One LLC Shops CR-5 Goodman North America 13 14,026 - May-2018 Feb-2019 Cantu-Galleano Ranch Rd Goodman North America 24926 Elder Ave - 14 3,520 1 Jan-2018 Jan-2019 Eastern Municipal Water District Shops @ Bellegrave - 15 6,000 1 May-2018 Dec-2018 4802 Etiwanda - Shops @ Bellegrave - 16 4,218 1 May-2018 Dec-2018 Bellegrave Ave - 7275 Indiana Ave - 17 5,000 - Mar-2018 Dec-2018 Amir Abdipour MD Grocery Outlet - 18 17,889 1 Jun-2018 Dec-2018 3490 Madison St Padua Family Trust 1987 Foothill Parkway - 19 2,700 1 May-2018 Nov-2018 Corner Stone Investments 1999 Foothill Parkway - 20 2,700 1 May-2018 Nov-2018 Corner Stone Investments
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 51 Riverside Construction Deanza Country Plaza
UNDER CONSTRUCTION
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner San Gorgonio Village - 1 134,583 1 Mar-2019 Dec-2019 1625 E 2nd St - The Marketplace At Cali… The Evans Company 2 123,254 1 Jun-2019 Dec-2020 Cherry Valley Blvd - Pad & Shop Space-Ham… - 3 25,000 1 Jan-2019 Dec-2019 7270 Hamner Ave - Pad 1 - 4 15,740 1 May-2019 Jan-2020 27630 Eucalyptus Ave CBRE Global Investors Ltd PAD B - 5 10,200 1 Nov-2019 Aug-2020 8769 Trautwein Rd - Retail - 6 9,054 1 Sep-2019 Aug-2020 NWC Van Buren Blvd. &… Silagi Development & Management Veteran's Plaza BLDG L - 7 8,500 1 Jul-2019 Jun-2020 NEC Van Buren Blvd Blvd Jh Hospitality, Inc. Dba Best Wes… Veteran's Plaza - 8 7,000 - Jul-2019 Jun-2020 NEC Van Buren Blvd - Riverside Central - 9 4,800 1 Feb-2019 Dec-2019 3678 Central Ave William R Rothacher Riverside Premiere Motors - 10 4,376 1 Dec-2017 Dec-2019 185 W La Cadena Dr Riverside Premiere Motors 742 W County Line Rd - 11 4,300 1 Jun-2019 Mar-2020 - Van Buren Blvd - 12 4,000 1 May-2019 Dec-2019 Sheung Tsam Kam 1957 Foothill Parkway Rd - 13 4,000 1 Jul-2019 Jan-2020 - 1935 Foothill Parkway - 14 4,000 1 Sep-2019 Feb-2020 Corner Stone Investments
PROPOSED
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner SEC Cantu-Galleano & H… - 1 650,000 1 Jan-2020 Jan-2021 - Sub-Major Tenants Goodman North America 2 127,000 - Nov-2019 May-2020 Cantu-Galleano Ranch Rd Goodman North America NEC Cactus Ave & Naso… - 3 120,938 1 Jan-2020 Oct-2020 Pacific First Capital Group Summerwind Commons… - 4 74,800 1 Jun-2020 Jun-2021 I-10 & Cherry Valley Blvd Plan B Resolution Advisors Nec Limonite Avenue &… - 5 70,000 1 Dec-2019 Oct-2020 - SWC Center St & Garfiel… - 6 65,628 1 Dec-2019 Dec-2020 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 52 Riverside Construction Deanza Country Plaza
PROPOSED
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner Pad 1 - 7 65,000 1 Mar-2020 Mar-2021 6157 Joshua Palmer Way BMW Management LLC Moreno Beach Gateway - 8 64,000 1 Apr-2020 Dec-2020 - 0 Van Buren Blvd - 9 62,180 1 Jan-2020 Aug-2020 Arturo L Flores, Jr 9202 Mission Blvd - 10 48,369 1 May-2020 May-2021 - Oak Valley Parkway And… - 11 46,000 1 Dec-2019 Dec-2020 - 1008 E Alessandro Blvd Jed Family Trust 12 40,000 1 Dec-2019 Dec-2020 - 1405 Beaumont Ave - 13 31,600 - Dec-2019 Dec-2020 Helou Corp Bldg 1 - 14 29,600 - Jan-2020 Jan-2021 Wineville & Limonite Ave - Retail/Restaurant (BLDG… - 15 22,000 1 Jan-2020 Jun-2020 9241 Limonite Ave - Pad for Future Retail/Re… - 16 21,600 - Dec-2019 May-2020 Mission Blvd. - Summerwind Commons - 17 20,000 - Dec-2019 Dec-2020 Roberts Rd - Trackor Supply Company - 18 20,000 - Jan-2020 Jun-2020 17155 Van Buren Blvd - NEC Cajalco Road & Wo… - 19 19,097 1 Dec-2019 Dec-2020 - 2914-2934 Ramsey St - 20 18,000 1 Dec-2019 Apr-2020 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 53 Construction Activity Deanza Country Plaza
UNDER CONSTRUCTION IN SQUARE FEET (15 Mile Radius)
PROJECTED DELIVERIES IN SQUARE FEET (15 Mile Radius)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 54 Construction Activity Deanza Country Plaza
DELIVERIES IN SQUARE FEET (15 Mile Radius)
STARTS IN SQUARE FEET (15 Mile Radius)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 55 Construction Activity Deanza Country Plaza
PERCENT OCCUPIED AT DELIVERY (15 Mile Radius)
DELIVERIES AND OCCUPANCY IN SQUARE FEET (15 Mile Radius)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 56 Construction Activity Deanza Country Plaza
NEW CONSTRUCTION OCCUPANCY AFTER DELIVERY BY YEAR BUILT (15 Mile Radius)
NET ABSORPTION IN SQUARE FEET (15 Mile Radius)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 57 Construction Activity Deanza Country Plaza
NNN ASKING RENT PER SQUARE FOOT (15 Mile Radius)
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 58 Completed Construction Past 12 Months Deanza Country Plaza
Properties Square Feet Percent Leased NNN Asking Rent Per SF 66 871,802 80.8% $19.63
COMPLETED CONSTRUCTION PAST 12 MONTHS
CONSTRUCTION SUMMARY STATISTICS
Low Average Median High GLA 1,224 13,209 7,605 160,337
Stories 1 1 1 4
Typical Floor SF 1,224 10,090 7,013 75,000
Leases Signed 0 1 1 26
Percent Leased 0% 80.8% 100% 100%
NNN Asking Rent Per SF $15.23 $19.63 $19.21 $78.48
Star Rating 3.2
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 59 Completed Construction Past 12 Months Deanza Country Plaza
Property Name/Address Rating GLA Stories Complete Leased Developer/Owner Bldg D - 1 6,221 1 Nov-2019 48.6% 1281 W Foothill Blvd Shervin Darvish Bldg C - 2 6,626 1 Nov-2019 29.5% 1281 W Foothill Blvd Shervin Darvish 16120-16138 Baseline Ave - 3 8,250 1 Nov-2019 100% - 1973 Foothill Parkway - 4 19,500 1 Oct-2019 67.3% - Sonic Ayala & 210 Partners LLC 5 2,720 1 Oct-2019 100% 2019-2025 N Ayala Dr - Bldg A - 6 25,358 1 Oct-2019 100% 1281 W Foothill Blvd Shervin Darvish Bldg B - 7 6,000 1 Oct-2019 75.0% 180 W Valley Blvd Pacifica Companies Carvana - 8 14,000 1 Sep-2019 100% 520 NE Turner Ave - Rancho Plaza - 9 15,410 1 Sep-2019 53.7% 9606-9622 Foothill Blvd Muirfield Properties Inc. Building 5 Wermers Properties 10 10,167 2 Sep-2019 19.4% 486 N Main St - 22100 Eucalyptus Ave - 11 40,000 4 Sep-2019 100% MMP Properties 17040 S Highland Ave - 12 5,800 1 Sep-2019 100% Mountain View Tire & Auto Service Olive Garden Lewis Management Corp. 13 7,700 1 Aug-2019 100% 1301 Renaissance Pky Lewis Commercial Alta Loma Animal Hospital - 14 9,000 1 Aug-2019 100% 7289 Amethyst Ave Nasre Nabil Bldg C - 15 15,000 1 Aug-2019 0% 6240 Mission Blvd Legend International Inv Lp Bldg B - 16 34,713 - Aug-2019 0% 6260 Mission Blvd - The Preserve at Chino Pl… - 17 12,500 1 Jul-2019 100% 15705 Euclid Ave Parkcrest Realty Norco Gateway - 18 34,300 1 Jul-2019 82.5% 1451 6th St - 14675 Valley Blvd - 19 5,000 1 Jul-2019 100% Jesse Harb Starbucks - 20 3,000 1 Jun-2019 100% 1595 W Valley Blvd Starbucks Shops 4 Lewis Management Corp. 21 7,560 1 Apr-2019 100% Ayala Dr & Hwy 210 Lewis Commercial Cracker Barrel Ayala & 210 Partners LLC 22 9,170 1 Apr-2019 100% 1080 W Renaissance Pky Robert W Harms 11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 60 Completed Construction Past 12 Months Deanza Country Plaza
Property Name/Address Rating GLA Stories Complete Leased Developer/Owner Panera Bread Lewis Management Corp. 23 4,300 1 Apr-2019 100% 1345 W Renaissance Pky Lewis Commercial 4030 Etiwanda Ave - 24 6,120 1 Apr-2019 83.1% - 1629 N Mount Vernon Ave - 25 5,000 1 Apr-2019 0% Alex & Bluma Chernobelsky Haven City - 26 75,000 1 Apr-2019 60.0% Haven & Arrow Kim B & Susan T Ly 10920 Magnolia Ave Grae Ventures 27 9,520 1 Apr-2019 100% Grae Ventures 235 Iowa Ave - 28 1,224 1 Apr-2019 0% 24 Apartment Complex Services Inc 7-Eleven - 29 3,100 1 Apr-2019 100% 1130 Renaissance Pky Helen Young 16427 Sierra Lakes Pky - 30 10,800 1 Apr-2019 100% - 7-Eleven - 31 3,000 1 Apr-2019 100% 7830 Pine Ave John Maxey Day St & Eucalyptus Ave… - 32 5,199 1 Apr-2019 58.5% 12980 Day St - 16310 Slover Ave - 33 1,920 1 Mar-2019 100% - 1285 Renaissance Pky Lewis Management Corp. 34 5,000 1 Feb-2019 100% Lewis Commercial Sit 'n Sleep - 35 8,200 1 Feb-2019 100% 12550 Day St Moreno Valley Sleep One LLC 16918 S Highland Ave - 36 5,900 1 Feb-2019 67.8% Michael S Adler 16938 S Highland Ave - 37 7,650 1 Feb-2019 80.4% Michael S Adler Shops CR-5 Goodman North America 38 14,026 - Feb-2019 100% Cantu-Galleano Ranch Rd Goodman North America Foothill & Cedar Develop… - 39 9,436 1 Jan-2019 100% 1230 W Foothill Blvd Foothill Plaza Inc 24926 Elder Ave - 40 3,520 1 Jan-2019 100% Eastern Municipal Water District Grocery Outlet Lewis Management Corp. 41 18,555 1 Dec-2018 100% 1145 Renaissance Pky Shin Yen Management Mattress Firm Lewis Management Corp. 42 7,560 1 Dec-2018 100% 1265 Renaissance Pky Lewis Commercial Miguel's Jr. Lewis Management Corp. 43 3,053 1 Dec-2018 100% 1240 Renaissance Pky Lewis Commercial Shops @ Bellegrave - 44 6,000 1 Dec-2018 100% 4802 Etiwanda -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 61 Completed Construction Past 12 Months Deanza Country Plaza
Property Name/Address Rating GLA Stories Complete Leased Developer/Owner Shops @ Bellegrave - 45 4,218 1 Dec-2018 100% Bellegrave Ave - Lincoln Square - 46 2,790 1 Dec-2018 0% 12702 Magnolia Ave Kaur Singh 7275 Indiana Ave - 47 5,000 - Dec-2018 100% Amir Abdipour MD Infiniti Of Ontario - 48 36,000 2 Dec-2018 100% 2192 Inland Empire Blvd D.T.M Land Company Grocery Outlet - 49 17,889 1 Dec-2018 100% 3490 Madison St Padua Family Trust 1987 Foothill Parkway - 50 2,700 1 Nov-2018 100% Corner Stone Investments
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 62 Deliveries Past 12 Months Property Details Deanza Country Plaza
1 1281 W Foothill Blvd - Bldg D Distance to Subject Shopping Center: 9.6 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 6,221 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: 41' on W Foothill Blvd
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 48.5% Completion: Nov-2019 Square Feet: 3,201 Build Time: 9 Months CoStar Est: $17 - 20 Time Since Delivery: 0 Months
CONTACTS Developer: - Owner: Shervin Darvish
2 1281 W Foothill Blvd - Bldg C Distance to Subject Shopping Center: 9.5 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 6,626 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: 135' on Cedar, 157' on W Foothill Blvd
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 29.5% Completion: Nov-2019 Square Feet: 4,670 Build Time: 9 Months CoStar Est: $17 - 20 Time Since Delivery: 0 Months
CONTACTS Developer: - Owner: Shervin Darvish
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 63 Deliveries Past 12 Months Property Details Deanza Country Plaza
3 16120-16138 Baseline Ave Distance to Subject Shopping Center: 10.0 Miles
PROPERTY Type: Strip Center Land Acres: 3.21 AC GLA: 8,250 SF Building FAR: 0.06 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Sep-2018 Percent Leased: 100% Completion: Nov-2019 Square Feet: - Build Time: 14 Months Asking Rent: $33.00 Time Since Delivery: 0 Months
CONTACTS Developer: - Owner: -
4 1973 Foothill Parkway Distance to Subject Shopping Center: 10.9 Miles
PROPERTY Type: Storefront Land Acres: 3.67 AC GLA: 19,500 SF Building FAR: 0.12 Floors: 1 Construction: Wood Frame Parking: Ratio of 6.78/1,000 SF Features: Freeway Visibility, Restaurant Frontage: 279' on El Cerrito Rd
CONSTRUCTION AVAILABILITY Start Date: Nov-2018 Percent Leased: 67.3% Completion: Oct-2019 Square Feet: 6,369 Build Time: 11 Months Asking Rent: $39.00 Time Since Delivery: 1 Month
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 64 Deliveries Past 12 Months Property Details Deanza Country Plaza
5 2019-2025 N Ayala Dr - Sonic Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: Strip Center Land Acres: 0.88 AC GLA: 2,720 SF Building FAR: 0.07 Floors: 1 Construction: - Parking: 33 Surface Spaces are available; Ratio of 12.13/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jul-2019 Percent Leased: 100% Completion: Oct-2019 Square Feet: - Build Time: 3 Months CoStar Est: $17 - 21 Time Since Delivery: 1 Month
CONTACTS Developer: Ayala & 210 Partners LLC Owner: -
6 1281 W Foothill Blvd - Bldg A Distance to Subject Shopping Center: 9.5 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 25,358 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: 134' on W Foothill Blvd
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 100% Completion: Oct-2019 Square Feet: - Build Time: 8 Months CoStar Est: $14 - 17 Time Since Delivery: 1 Month
CONTACTS Developer: - Owner: Shervin Darvish
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 65 Deliveries Past 12 Months Property Details Deanza Country Plaza
7 180 W Valley Blvd - Bldg B Distance to Subject Shopping Center: 8.0 Miles
PROPERTY Type: Community Center Land Acres: 0.34 AC GLA: 6,000 SF Building FAR: 0.40 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jun-2019 Percent Leased: 75.0% Completion: Oct-2019 Square Feet: 1,500 Build Time: 4 Months CoStar Est: $17 - 20 Time Since Delivery: 1 Month
CONTACTS Developer: - Owner: Pacifica Companies
8 520 NE Turner Ave - Carvana Distance to Subject Shopping Center: 9.6 Miles
PROPERTY Type: Freestanding Land Acres: 2.23 AC GLA: 14,000 SF Building FAR: 0.14 Floors: 1 Construction: - Parking: 72 Surface Spaces are available; Ratio of 8.67/1,000 SF Features: Corner Lot, Freeway Visibility, Signage Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2019 Percent Leased: 100% Completion: Sep-2019 Square Feet: - Build Time: 5 Months CoStar Est: $17 - 20 Time Since Delivery: 2 Months
CONTACTS Developer: - Owner: -
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9 9606-9622 Foothill Blvd - Rancho Plaza Distance to Subject Shopping Center: 12.0 Miles
PROPERTY Type: Strip Center Land Acres: 1.74 AC GLA: 15,410 SF Building FAR: 0.20 Floors: 1 Construction: Wood Frame Parking: - Features: - Frontage: 615' on Foothill Blvd, 124' on Archibald Ave, 131' on Klusman Ave
CONSTRUCTION AVAILABILITY Start Date: Oct-2017 Percent Leased: 53.7% Completion: Sep-2019 Square Feet: 7,133 Build Time: 23 Months Asking Rent: $30.60 Time Since Delivery: 2 Months
CONTACTS Developer: - Owner: Muirfield Properties Inc.
10 486 N Main St - Building 5 Distance to Subject Shopping Center: 8.9 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 10,167 SF Building FAR: - Floors: 2 Construction: Wood Frame Parking: - Features: - Frontage: 66' on N Main St
CONSTRUCTION AVAILABILITY Start Date: May-2018 Percent Leased: 19.4% Completion: Sep-2019 Square Feet: 8,198 Build Time: 16 Months CoStar Est: $18 - 22 Time Since Delivery: 2 Months
CONTACTS Developer: Wermers Properties Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 67 Deliveries Past 12 Months Property Details Deanza Country Plaza
11 22100 Eucalyptus Ave Distance to Subject Shopping Center: 10.7 Miles
PROPERTY Type: - Land Acres: - GLA: 40,000 SF Building FAR: - Floors: 4 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Mar-2018 Percent Leased: 100% Completion: Sep-2019 Square Feet: - Build Time: 18 Months CoStar Est: $15 - 19 Time Since Delivery: 2 Months
CONTACTS Developer: - Owner: MMP Properties
12 17040 S Highland Ave Distance to Subject Shopping Center: 11.0 Miles
PROPERTY Type: Auto Repair Land Acres: 1.15 AC GLA: 5,800 SF Building FAR: 0.12 Floors: 1 Construction: - Parking: 27 Surface Spaces are available; Ratio of 4.65/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: May-2019 Percent Leased: 100% Completion: Sep-2019 Square Feet: - Build Time: 4 Months CoStar Est: $21 - 26 Time Since Delivery: 2 Months
CONTACTS Developer: - Owner: Mountain View Tire & Auto Service
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 68 Deliveries Past 12 Months Property Details Deanza Country Plaza
13 1301 Renaissance Pky - Olive Garden Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: Power Center Land Acres: - GLA: 7,700 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Aug-2019 Square Feet: - Build Time: 28 Months CoStar Est: $17 - 21 Time Since Delivery: 3 Months
CONTACTS Developer: Lewis Management Corp. Owner: Lewis Commercial
14 7289 Amethyst Ave - Alta Loma Animal Hospital Distance to Subject Shopping Center: 12.9 Miles
PROPERTY Type: Freestanding Land Acres: 0.38 AC GLA: 9,000 SF Building FAR: 0.55 Floors: 1 Construction: - Parking: - Features: - Frontage: 128' on Base Line Rd
CONSTRUCTION AVAILABILITY Start Date: Jan-2018 Percent Leased: 100% Completion: Aug-2019 Square Feet: - Build Time: 19 Months CoStar Est: $22 - 27 Time Since Delivery: 3 Months
CONTACTS Developer: - Owner: Nasre Nabil
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 69 Deliveries Past 12 Months Property Details Deanza Country Plaza
15 6240 Mission Blvd - Bldg C Distance to Subject Shopping Center: 2.6 Miles
PROPERTY Type: Neighborhood Center Land Acres: 4.52 AC GLA: 15,000 SF Building FAR: 0.08 Floors: 1 Construction: Wood Frame Parking: - Features: - Frontage: Mission Blvd.
CONSTRUCTION AVAILABILITY Start Date: Jan-2017 Percent Leased: 0% Completion: Aug-2019 Square Feet: 15,000 Build Time: 31 Months Asking Rent: $21.00 Time Since Delivery: 3 Months
CONTACTS Developer: - Owner: Legend International Inv Lp
16 6260 Mission Blvd - Bldg B Distance to Subject Shopping Center: 2.6 Miles
PROPERTY Type: Neighborhood Center Land Acres: 4.51 AC GLA: 34,713 SF Building FAR: 0.18 Floors: - Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jan-2017 Percent Leased: 0% Completion: Aug-2019 Square Feet: 34,713 Build Time: 31 Months Asking Rent: $21.00 Time Since Delivery: 3 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 70 Deliveries Past 12 Months Property Details Deanza Country Plaza
17 15705 Euclid Ave - The Preserve at Chino Plaza Distance to Subject Shopping Center: 11.2 Miles
PROPERTY Type: Strip Center Land Acres: 0.71 AC GLA: 12,500 SF Building FAR: 0.40 Floors: 1 Construction: - Parking: - Features: - Frontage: 360' on Euclid Ave., 396' on Kimball Ave.
CONSTRUCTION AVAILABILITY Start Date: - Percent Leased: 100% Completion: Jul-2019 Square Feet: - Build Time: - CoStar Est: $16 - 20 Time Since Delivery: 4 Months
CONTACTS Developer: - Owner: Parkcrest Realty
18 1451 6th St - Norco Gateway Distance to Subject Shopping Center: 6.2 Miles
PROPERTY Type: - Land Acres: - GLA: 34,300 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 82.5% Completion: Jul-2019 Square Feet: 6,000 Build Time: 5 Months CoStar Est: $17 - 20 Time Since Delivery: 4 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 71 Deliveries Past 12 Months Property Details Deanza Country Plaza
19 14675 Valley Blvd Distance to Subject Shopping Center: 6.6 Miles
PROPERTY Type: Auto Repair Land Acres: 1.75 AC GLA: 5,000 SF Building FAR: 0.07 Floors: 1 Construction: Masonry Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jan-2018 Percent Leased: 100% Completion: Jul-2019 Square Feet: - Build Time: 18 Months CoStar Est: $21 - 26 Time Since Delivery: 4 Months
CONTACTS Developer: - Owner: Jesse Harb
20 1595 W Valley Blvd - Starbucks Distance to Subject Shopping Center: 8.7 Miles
PROPERTY Type: Fast Food Land Acres: 1.00 AC GLA: 3,000 SF Building FAR: 0.07 Floors: 1 Construction: Wood Frame Parking: Ratio of 0.00/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jan-2019 Percent Leased: 100% Completion: Jun-2019 Square Feet: - Build Time: 5 Months CoStar Est: $17 - 21 Time Since Delivery: 5 Months
CONTACTS Developer: - Owner: Starbucks
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 72 Deliveries Past 12 Months Property Details Deanza Country Plaza
21 Ayala Dr & Hwy 210 - Shops 4 Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: Power Center Land Acres: - GLA: 7,560 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Apr-2019 Square Feet: - Build Time: 24 Months CoStar Est: $17 - 20 Time Since Delivery: 7 Months
CONTACTS Developer: Lewis Management Corp. Owner: Lewis Commercial
22 1080 W Renaissance Pky - Cracker Barrel Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: Strip Center Land Acres: 2.22 AC GLA: 9,170 SF Building FAR: 0.09 Floors: 1 Construction: - Parking: 132 Surface Spaces are available; Ratio of 10.00/1,000 SF Features: Corner Lot, Freeway Visibility, Signalized Intersection Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Mar-2018 Percent Leased: 100% Completion: Apr-2019 Square Feet: - Build Time: 13 Months CoStar Est: $17 - 21 Time Since Delivery: 7 Months
CONTACTS Developer: Ayala & 210 Partners LLC Owner: Robert W Harms
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 73 Deliveries Past 12 Months Property Details Deanza Country Plaza
23 1345 W Renaissance Pky - Panera Bread Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: Power Center Land Acres: 1.45 AC GLA: 4,300 SF Building FAR: 0.07 Floors: 1 Construction: - Parking: 68 free Surface Spaces are available; Ratio of 10.00/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Apr-2019 Square Feet: - Build Time: 24 Months CoStar Est: $17 - 21 Time Since Delivery: 7 Months
CONTACTS Developer: Lewis Management Corp. Owner: Lewis Commercial
24 4030 Etiwanda Ave Distance to Subject Shopping Center: 4.7 Miles
PROPERTY Type: Freestanding Land Acres: 1.08 AC GLA: 6,120 SF Building FAR: 0.13 Floors: 1 Construction: - Parking: - Features: - Frontage: 133' on Etiwanda Ave.
CONSTRUCTION AVAILABILITY Start Date: Jan-2019 Percent Leased: 83.1% Completion: Apr-2019 Square Feet: 1,036 Build Time: 3 Months Asking Rent: $24.00 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 74 Deliveries Past 12 Months Property Details Deanza Country Plaza
25 1629 N Mount Vernon Ave Distance to Subject Shopping Center: 13.3 Miles
PROPERTY Type: Storefront Retail/Office Land Acres: 0.34 AC GLA: 5,000 SF Building FAR: 0.34 Floors: 1 Construction: Wood Frame Parking: 20 free Surface Spaces are available; Ratio of 4.00/1,000 SF Features: Tenant Controlled HVAC Frontage: 102' on N Mt Vernon Ave (with 1 curb cut)
CONSTRUCTION AVAILABILITY Start Date: Dec-2018 Percent Leased: 0% Completion: Apr-2019 Square Feet: 5,000 Build Time: 4 Months Asking Rent: $21.00 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: Alex & Bluma Chernobelsky
26 Haven & Arrow - Haven City Distance to Subject Shopping Center: 10.9 Miles
PROPERTY Type: Neighborhood Center Land Acres: 1.73 AC GLA: 75,000 SF Building FAR: 1.00 Floors: 1 Construction: - Parking: Ratio of 0.00/1,000 SF Features: Food Court Frontage: 500' on Haven Ave
CONSTRUCTION AVAILABILITY Start Date: Nov-2017 Percent Leased: 60.0% Completion: Apr-2019 Square Feet: 30,000 Build Time: 17 Months Asking Rent: $21.00 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: Kim B & Susan T Ly
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 75 Deliveries Past 12 Months Property Details Deanza Country Plaza
27 10920 Magnolia Ave Distance to Subject Shopping Center: 5.1 Miles
PROPERTY Type: - Land Acres: - GLA: 9,520 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2018 Percent Leased: 100% Completion: Apr-2019 Square Feet: - Build Time: 14 Months CoStar Est: $18 - 22 Time Since Delivery: 7 Months
CONTACTS Developer: Grae Ventures Owner: Grae Ventures
28 235 Iowa Ave Distance to Subject Shopping Center: 7.1 Miles
PROPERTY Type: Auto Dealership Land Acres: 0.41 AC GLA: 1,224 SF Building FAR: 0.07 Floors: 1 Construction: Wood Frame Parking: 25 free Surface Spaces are available; Ratio of 10.00/1,000 SF Features: Air Conditioning, Fenced Lot, Freeway Visibility, Monument Signage Frontage: 110' on Iowa
CONSTRUCTION AVAILABILITY Start Date: Mar-2018 Percent Leased: 0% Completion: Apr-2019 Square Feet: 1,224 Build Time: 13 Months Asking Rent: $78.48 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: 24 Apartment Complex Services Inc
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 76 Deliveries Past 12 Months Property Details Deanza Country Plaza
29 1130 Renaissance Pky - 7-Eleven Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: - Land Acres: 1.67 AC GLA: 3,100 SF Building FAR: 0.04 Floors: 1 Construction: - Parking: 23 Surface Spaces are available; Ratio of 7.42/1,000 SF Features: - Frontage: 205' on SR-210
CONSTRUCTION AVAILABILITY Start Date: Dec-2018 Percent Leased: 100% Completion: Apr-2019 Square Feet: - Build Time: 4 Months CoStar Est: $16 - 19 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: Helen Young
30 16427 Sierra Lakes Pky Distance to Subject Shopping Center: 11.0 Miles
PROPERTY Type: Day Care Center Land Acres: 1.23 AC GLA: 10,800 SF Building FAR: 0.20 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Dec-2018 Percent Leased: 100% Completion: Apr-2019 Square Feet: - Build Time: 4 Months CoStar Est: $17 - 20 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 77 Deliveries Past 12 Months Property Details Deanza Country Plaza
31 7830 Pine Ave - 7-Eleven Distance to Subject Shopping Center: 10.3 Miles
PROPERTY Type: - Land Acres: 1.02 AC GLA: 3,000 SF Building FAR: 0.07 Floors: 1 Construction: - Parking: 14 Surface Spaces are available; Ratio of 4.66/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Dec-2018 Percent Leased: 100% Completion: Apr-2019 Square Feet: - Build Time: 4 Months CoStar Est: $20 - 25 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: John Maxey
32 12980 Day St - Day St & Eucalyptus Ave – Shop A Distance to Subject Shopping Center: 10.6 Miles
PROPERTY Type: - Land Acres: 1.01 AC GLA: 5,199 SF Building FAR: 0.12 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Dec-2018 Percent Leased: 58.5% Completion: Apr-2019 Square Feet: 2,159 Build Time: 4 Months CoStar Est: $18 - 22 Time Since Delivery: 7 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 78 Deliveries Past 12 Months Property Details Deanza Country Plaza
33 16310 Slover Ave Distance to Subject Shopping Center: 6.0 Miles
PROPERTY Type: Auto Dealership Land Acres: 0.96 AC GLA: 1,920 SF Building FAR: 0.05 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jan-2018 Percent Leased: 100% Completion: Mar-2019 Square Feet: - Build Time: 14 Months CoStar Est: $20 - 25 Time Since Delivery: 8 Months
CONTACTS Developer: - Owner: -
34 1285 Renaissance Pky Distance to Subject Shopping Center: 11.3 Miles
PROPERTY Type: Power Center Land Acres: 2.24 AC GLA: 5,000 SF Building FAR: 0.05 Floors: 1 Construction: - Parking: 223 Surface Spaces are available; Ratio of 5.30/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Feb-2019 Square Feet: - Build Time: 22 Months CoStar Est: $17 - 21 Time Since Delivery: 9 Months
CONTACTS Developer: Lewis Management Corp. Owner: Lewis Commercial
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 79 Deliveries Past 12 Months Property Details Deanza Country Plaza
35 12550 Day St - Sit 'n Sleep Distance to Subject Shopping Center: 10.6 Miles
PROPERTY Type: Community Center Land Acres: - GLA: 8,200 SF Building FAR: - Floors: 1 Construction: Wood Frame Parking: - Features: - Frontage: 122' on Campus Pky
CONSTRUCTION AVAILABILITY Start Date: Mar-2018 Percent Leased: 100% Completion: Feb-2019 Square Feet: - Build Time: 11 Months CoStar Est: $16 - 20 Time Since Delivery: 9 Months
CONTACTS Developer: - Owner: Moreno Valley Sleep One LLC
36 16918 S Highland Ave Distance to Subject Shopping Center: 10.9 Miles
PROPERTY Type: Neighborhood Center Land Acres: 2.48 AC GLA: 5,900 SF Building FAR: 0.05 Floors: 1 Construction: - Parking: Ratio of 5.61/1,000 SF Features: Freeway Visibility Frontage: 153' on Sierra Ave
CONSTRUCTION AVAILABILITY Start Date: Sep-2018 Percent Leased: 67.8% Completion: Feb-2019 Square Feet: 1,900 Build Time: 5 Months CoStar Est: $21 - 26 Time Since Delivery: 9 Months
CONTACTS Developer: - Owner: Michael S Adler
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 80 Deliveries Past 12 Months Property Details Deanza Country Plaza
37 16938 S Highland Ave Distance to Subject Shopping Center: 10.9 Miles
PROPERTY Type: Neighborhood Center Land Acres: 1.88 AC GLA: 7,650 SF Building FAR: 0.09 Floors: 1 Construction: - Parking: Ratio of 5.61/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Sep-2018 Percent Leased: 80.4% Completion: Feb-2019 Square Feet: 1,500 Build Time: 5 Months CoStar Est: $21 - 26 Time Since Delivery: 9 Months
CONTACTS Developer: - Owner: Michael S Adler
38 Cantu-Galleano Ranch Rd - Shops CR-5 Distance to Subject Shopping Center: 6.0 Miles
PROPERTY Type: Power Center Land Acres: - GLA: 14,026 SF Building FAR: - Floors: - Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: May-2018 Percent Leased: 100% Completion: Feb-2019 Square Feet: - Build Time: 9 Months CoStar Est: $14 - 17 Time Since Delivery: 9 Months
CONTACTS Developer: Goodman North America Owner: Goodman North America
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 81 Deliveries Past 12 Months Property Details Deanza Country Plaza
39 1230 W Foothill Blvd - Foothill & Cedar Development Distance to Subject Shopping Center: 9.7 Miles
PROPERTY Type: Freestanding Land Acres: 0.91 AC GLA: 9,436 SF Building FAR: 0.24 Floors: 1 Construction: Wood Frame Parking: 50 free Surface Spaces are available; Ratio of 5.29/1,000 SF Features: Signage Frontage: 91' on W Foothill Blvd (with 1 curb cut)
CONSTRUCTION AVAILABILITY Start Date: Dec-2016 Percent Leased: 100% Completion: Jan-2019 Square Feet: - Build Time: 25 Months Asking Rent: $33.00 Time Since Delivery: 10 Months
CONTACTS Developer: - Owner: Foothill Plaza Inc
40 24926 Elder Ave Distance to Subject Shopping Center: 13.3 Miles
PROPERTY Type: Storefront Land Acres: - GLA: 3,520 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jan-2018 Percent Leased: 100% Completion: Jan-2019 Square Feet: - Build Time: 12 Months CoStar Est: $19 - 23 Time Since Delivery: 10 Months
CONTACTS Developer: - Owner: Eastern Municipal Water District
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 82 Deliveries Past 12 Months Property Details Deanza Country Plaza
41 1145 Renaissance Pky - Grocery Outlet Distance to Subject Shopping Center: 11.2 Miles
PROPERTY Type: Power Center Land Acres: 2.09 AC GLA: 18,555 SF Building FAR: 0.20 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 20 Months CoStar Est: $14 - 17 Time Since Delivery: 11 Months
CONTACTS Developer: Lewis Management Corp. Owner: Shin Yen Management
42 1265 Renaissance Pky - Mattress Firm Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: Power Center Land Acres: 1.06 AC GLA: 7,560 SF Building FAR: 0.16 Floors: 1 Construction: - Parking: 52 Surface Spaces are available; Ratio of 6.00/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 20 Months CoStar Est: $17 - 20 Time Since Delivery: 11 Months
CONTACTS Developer: Lewis Management Corp. Owner: Lewis Commercial
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 83 Deliveries Past 12 Months Property Details Deanza Country Plaza
43 1240 Renaissance Pky - Miguel's Jr. Distance to Subject Shopping Center: 11.4 Miles
PROPERTY Type: Power Center Land Acres: 1.21 AC GLA: 3,053 SF Building FAR: 0.06 Floors: 1 Construction: - Parking: 56 Surface Spaces are available Features: - Frontage: 250' on State Route 210
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 20 Months CoStar Est: $17 - 20 Time Since Delivery: 11 Months
CONTACTS Developer: Lewis Management Corp. Owner: Lewis Commercial
44 4802 Etiwanda - Shops @ Bellegrave Distance to Subject Shopping Center: 4.2 Miles
PROPERTY Type: Strip Center Land Acres: - GLA: 6,000 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: May-2018 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 7 Months CoStar Est: $17 - 21 Time Since Delivery: 11 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 84 Deliveries Past 12 Months Property Details Deanza Country Plaza
45 Bellegrave Ave - Shops @ Bellegrave Distance to Subject Shopping Center: 4.2 Miles
PROPERTY Type: Strip Center Land Acres: - GLA: 4,218 SF Building FAR: - Floors: 1 Construction: - Parking: Ratio of 5.50/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: May-2018 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 7 Months CoStar Est: $34 - 41 Time Since Delivery: 11 Months
CONTACTS Developer: - Owner: -
46 12702 Magnolia Ave - Lincoln Square Distance to Subject Shopping Center: 6.9 Miles
PROPERTY Type: Strip Center Land Acres: - GLA: 2,790 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Dec-2017 Percent Leased: 0% Completion: Dec-2018 Square Feet: 2,790 Build Time: 12 Months CoStar Est: $21 - 25 Time Since Delivery: 11 Months
CONTACTS Developer: - Owner: Kaur Singh
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 85 Deliveries Past 12 Months Property Details Deanza Country Plaza
47 7275 Indiana Ave Distance to Subject Shopping Center: 4.2 Miles
PROPERTY Type: - Land Acres: - GLA: 5,000 SF Building FAR: - Floors: - Construction: - Parking: 20 Surface Spaces are available; Ratio of 4.00/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Mar-2018 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 9 Months CoStar Est: $17 - 21 Time Since Delivery: 11 Months
CONTACTS Developer: - Owner: Amir Abdipour MD
48 2192 Inland Empire Blvd - Infiniti Of Ontario Distance to Subject Shopping Center: 10.7 Miles
PROPERTY Type: Auto Dealership Land Acres: 4.00 AC GLA: 36,000 SF Building FAR: 0.21 Floors: 2 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Dec-2017 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 12 Months CoStar Est: $17 - 21 Time Since Delivery: 11 Months
CONTACTS Developer: - Owner: D.T.M Land Company
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 86 Deliveries Past 12 Months Property Details Deanza Country Plaza
49 3490 Madison St - Grocery Outlet Distance to Subject Shopping Center: 3.9 Miles
PROPERTY Type: Supermarket Land Acres: 1.95 AC GLA: 17,889 SF Building FAR: 0.21 Floors: 1 Construction: - Parking: 108 Surface Spaces are available; Ratio of 6.04/1,000 SF Features: Corner Lot, Freeway Visibility, Signalized Intersection Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jun-2018 Percent Leased: 100% Completion: Dec-2018 Square Feet: - Build Time: 6 Months CoStar Est: $16 - 20 Time Since Delivery: 11 Months
CONTACTS Developer: - Owner: Padua Family Trust
50 1987 Foothill Parkway Distance to Subject Shopping Center: 10.9 Miles
PROPERTY Type: Restaurant Land Acres: 1.06 AC GLA: 2,700 SF Building FAR: 0.06 Floors: 1 Construction: Wood Frame Parking: Ratio of 10.00/1,000 SF Features: Freeway Visibility, Restaurant Frontage: 160' on El Cerrito Rd
CONSTRUCTION AVAILABILITY Start Date: May-2018 Percent Leased: 100% Completion: Nov-2018 Square Feet: - Build Time: 6 Months CoStar Est: $19 - 23 Time Since Delivery: 12 Months
CONTACTS Developer: - Owner: Corner Stone Investments
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 87 Under Construction Summary Deanza Country Plaza
Properties Square Feet Percent of Inventory Preleased 24 227,714 0.3% 50.6%
UNDER CONSTRUCTION PROPERTIES
UNDER CONSTRUCTION SUMMARY STATISTICS
Low Average Median High Building SF 2,032 9,488 6,500 42,378
Stories 1 1 1 1
Typical Floor SF 2,032 9,492 6,500 42,378
Preleasing 0% 50.6% 55.5% 100%
Estimated Delivery Date December 2019 February 2020 January 2020 August 2020
Months to Delivery 1 3 2 9
Construction Period in Months 5 12 11 32
Star Rating 3.0
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 88 Under Construction Property Details Deanza Country Plaza
1 7270 Hamner Ave - Pad & Shop Space-Hamner Place & Civic Center Distance to Subject Shopping Center: 6.0 Miles
PROPERTY Type: - Land Acres: 22.00 AC GLA: 25,000 SF Building FAR: 0.03 Floors: 1 Construction: - Parking: - Features: - Frontage: 71' on Hamner Ave
CONSTRUCTION AVAILABILITY Start Date: Jan-2019 Percent Leased: 60.0% Completion: Dec-2019 Square Feet: 10,000 Build Time: 11 Months CoStar Est: $14 - 17 Delivery: 1 Month
CONTACTS Developer: - Owner: -
2 Ayala Dr & Hwy 210 - Restaurant 3 Distance to Subject Shopping Center: 11.3 Miles
PROPERTY Type: Power Center Land Acres: - GLA: 6,500 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Apr-2017 Percent Leased: 100% Completion: Dec-2019 Square Feet: - Build Time: 32 Months CoStar Est: $17 - 20 Delivery: 1 Month
CONTACTS Developer: Lewis Management Corp. Owner: Lewis Commercial
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 89 Under Construction Property Details Deanza Country Plaza
3 3678 Central Ave - Riverside Central Distance to Subject Shopping Center: 3.9 Miles
PROPERTY Type: Restaurant Land Acres: 0.37 AC GLA: 4,800 SF Building FAR: 0.30 Floors: 1 Construction: - Parking: Ratio of 0.00/1,000 SF Features: - Frontage: 142' on Central Ave, 238' on De Anza
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 90.2% Completion: Dec-2019 Square Feet: 470 Build Time: 10 Months CoStar Est: $18 - 22 Delivery: 1 Month
CONTACTS Developer: - Owner: William R Rothacher
4 185 W La Cadena Dr - Riverside Premiere Motors Distance to Subject Shopping Center: 7.1 Miles
PROPERTY Type: Auto Dealership Land Acres: - GLA: 4,376 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Dec-2017 Percent Leased: 100% Completion: Dec-2019 Square Feet: - Build Time: 24 Months CoStar Est: $18 - 22 Delivery: 1 Month
CONTACTS Developer: - Owner: Riverside Premiere Motors
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 90 Under Construction Property Details Deanza Country Plaza
5 Van Buren Blvd Distance to Subject Shopping Center: 2.2 Miles
PROPERTY Type: Community Center Land Acres: 3.81 AC GLA: 4,000 SF Building FAR: 0.02 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: May-2019 Percent Leased: 100% Completion: Dec-2019 Square Feet: - Build Time: 7 Months CoStar Est: $18 - 22 Delivery: 1 Month
CONTACTS Developer: - Owner: Sheung Tsam Kam
6 0 Pine Ave - Jiffy Lube Distance to Subject Shopping Center: 10.3 Miles
PROPERTY Type: - Land Acres: 0.63 AC GLA: 2,805 SF Building FAR: 0.10 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Dec-2018 Percent Leased: 100% Completion: Dec-2019 Square Feet: - Build Time: 12 Months CoStar Est: $20 - 25 Delivery: 1 Month
CONTACTS Developer: - Owner: Lewis Commercial
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 91 Under Construction Property Details Deanza Country Plaza
7 1281 W Foothill Blvd - Bldg E Distance to Subject Shopping Center: 9.6 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 2,032 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: 65' on W Foothill Blvd
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 100% Completion: Dec-2019 Square Feet: - Build Time: 10 Months CoStar Est: $17 - 21 Delivery: 1 Month
CONTACTS Developer: - Owner: Shervin Darvish
8 SWC Central Avenue & Holt Blvd Distance to Subject Shopping Center: 14.7 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 42,378 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 100% Completion: Jan-2020 Square Feet: - Build Time: 11 Months CoStar Est: $16 - 20 Delivery: 2 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 92 Under Construction Property Details Deanza Country Plaza
9 W Valley Blvd & N Pepper Ave Distance to Subject Shopping Center: 8.7 Miles
PROPERTY Type: - Land Acres: - GLA: 18,000 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Mar-2018 Percent Leased: 0% Completion: Jan-2020 Square Feet: 18,000 Build Time: 22 Months CoStar Est: $14 - 17 Delivery: 2 Months
CONTACTS Developer: - Owner: Nachhattar S & Susana E Chandi
10 SWC Central Avenue & Holt Blvd Distance to Subject Shopping Center: 14.7 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 14,900 SF Building FAR: - Floors: - Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 0% Completion: Jan-2020 Square Feet: 14,900 Build Time: 11 Months CoStar Est: $14 - 17 Delivery: 2 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 93 Under Construction Property Details Deanza Country Plaza
11 SWC Central Avenue & Holt Blvd Distance to Subject Shopping Center: 14.7 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 4,844 SF Building FAR: - Floors: - Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 0% Completion: Jan-2020 Square Feet: 4,844 Build Time: 11 Months CoStar Est: $20 - 24 Delivery: 2 Months
CONTACTS Developer: - Owner: -
12 Sierra Lakes Pky - Shops at Sierra Distance to Subject Shopping Center: 11.2 Miles
PROPERTY Type: Neighborhood Center Land Acres: 0.39 AC GLA: 4,100 SF Building FAR: 0.24 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 100% Completion: Jan-2020 Square Feet: - Build Time: 11 Months CoStar Est: $22 - 27 Delivery: 2 Months
CONTACTS Developer: - Owner: Hamid Farsai
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 94 Under Construction Property Details Deanza Country Plaza
13 SWC Central Avenue & Holt Blvd Distance to Subject Shopping Center: 14.7 Miles
PROPERTY Type: Neighborhood Center Land Acres: - GLA: 4,000 SF Building FAR: - Floors: - Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 0% Completion: Jan-2020 Square Feet: 4,000 Build Time: 11 Months CoStar Est: $17 - 21 Delivery: 2 Months
CONTACTS Developer: - Owner: -
14 1957 Foothill Parkway Rd Distance to Subject Shopping Center: 10.9 Miles
PROPERTY Type: Restaurant Land Acres: 0.80 AC GLA: 4,000 SF Building FAR: 0.11 Floors: 1 Construction: Wood Frame Parking: Ratio of 10.00/1,000 SF Features: Restaurant Frontage: 205' on El Cerrito Rd
CONSTRUCTION AVAILABILITY Start Date: Jul-2019 Percent Leased: 0% Completion: Jan-2020 Square Feet: 4,000 Build Time: 6 Months CoStar Est: $18 - 22 Delivery: 2 Months
CONTACTS Developer: - Owner: -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 95 Under Construction Property Details Deanza Country Plaza
15 SWC Baseline Ave. & Day Creek Blvd Distance to Subject Shopping Center: 11.0 Miles
PROPERTY Type: - Land Acres: 2.27 AC GLA: 12,000 SF Building FAR: 0.12 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Aug-2019 Percent Leased: 92.1% Completion: Feb-2020 Square Feet: 950 Build Time: 6 Months CoStar Est: $17 - 21 Delivery: 3 Months
CONTACTS Developer: - Owner: -
16 1935 Foothill Parkway Distance to Subject Shopping Center: 10.9 Miles
PROPERTY Type: Restaurant Land Acres: 1.66 AC GLA: 4,000 SF Building FAR: 0.06 Floors: 1 Construction: Wood Frame Parking: Ratio of 10.00/1,000 SF Features: Restaurant Frontage: 219' on El Cerrito Rd
CONSTRUCTION AVAILABILITY Start Date: Sep-2019 Percent Leased: 0% Completion: Feb-2020 Square Feet: 4,000 Build Time: 5 Months CoStar Est: $18 - 22 Delivery: 3 Months
CONTACTS Developer: - Owner: Corner Stone Investments
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 96 Under Construction Property Details Deanza Country Plaza
17 Campus Ave Distance to Subject Shopping Center: 15.0 Miles
PROPERTY Type: - Land Acres: 1.30 AC GLA: 9,225 SF Building FAR: 0.16 Floors: 1 Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Aug-2019 Percent Leased: 0% Completion: Mar-2020 Square Feet: 9,225 Build Time: 7 Months CoStar Est: $20 - 24 Delivery: 4 Months
CONTACTS Developer: - Owner: -
18 2017 Riverside Hwy - Bldg 2 Distance to Subject Shopping Center: 12.1 Miles
PROPERTY Type: Neighborhood Center Land Acres: 1.33 AC GLA: 6,500 SF Building FAR: 0.11 Floors: 1 Construction: - Parking: 75 Surface Spaces are available; Ratio of 6.85/1,000 SF Features: Dedicated Turn Lane, Freeway Visibility, Pylon Sign, Signalized Interse… Frontage: 236' on Riverside Hwy
CONSTRUCTION AVAILABILITY Start Date: Dec-2018 Percent Leased: 0% Completion: Apr-2020 Square Feet: 6,500 Build Time: 16 Months CoStar Est: $17 - 21 Delivery: 5 Months
CONTACTS Developer: - Owner: City Centre Plaza II LLC
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 97 Under Construction Property Details Deanza Country Plaza
19 1595 W Valley Blvd - Pad B Distance to Subject Shopping Center: 8.7 Miles
PROPERTY Type: Freestanding Land Acres: 0.37 AC GLA: 13,500 SF Building FAR: 0.84 Floors: 1 Construction: - Parking: Ratio of 0.00/1,000 SF Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Feb-2019 Percent Leased: 63.7% Completion: Jun-2020 Square Feet: 4,900 Build Time: 16 Months CoStar Est: $14 - 17 Delivery: 7 Months
CONTACTS Developer: Canaan Pacific Owner: -
20 NEC Van Buren Blvd Blvd @ Opportunity Way - Veteran's Plaza BLDG L Distance to Subject Shopping Center: 12.1 Miles
PROPERTY Type: Strip Center Land Acres: 14.41 AC GLA: 8,500 SF Building FAR: 0.01 Floors: 1 Construction: Wood Frame Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jul-2019 Percent Leased: 5.9% Completion: Jun-2020 Square Feet: 8,000 Build Time: 11 Months CoStar Est: $17 - 21 Delivery: 7 Months
CONTACTS Developer: - Owner: Jh Hospitality, Inc. Dba Best Western Parker Inn G
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 98 Under Construction Property Details Deanza Country Plaza
21 NEC Van Buren Blvd - Veteran's Plaza Distance to Subject Shopping Center: 12.0 Miles
PROPERTY Type: Strip Center Land Acres: - GLA: 7,000 SF Building FAR: - Floors: - Construction: - Parking: - Features: - Frontage: -
CONSTRUCTION AVAILABILITY Start Date: Jul-2019 Percent Leased: 50.9% Completion: Jun-2020 Square Feet: 3,434 Build Time: 11 Months CoStar Est: $18 - 22 Delivery: 7 Months
CONTACTS Developer: - Owner: -
22 1603 W Valley Blvd Distance to Subject Shopping Center: 8.7 Miles
PROPERTY Type: Strip Center Land Acres: - GLA: 6,000 SF Building FAR: - Floors: 1 Construction: - Parking: - Features: - Frontage: 47' on W Valley
CONSTRUCTION AVAILABILITY Start Date: Oct-2019 Percent Leased: 100% Completion: Jun-2020 Square Feet: - Build Time: 8 Months CoStar Est: $17 - 20 Delivery: 7 Months
CONTACTS Developer: - Owner: Nachhattar S & Susana E Chandi
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 99 Under Construction Property Details Deanza Country Plaza
23 8769 Trautwein Rd - PAD B Distance to Subject Shopping Center: 9.5 Miles
PROPERTY Type: Strip Center Land Acres: 0.84 AC GLA: 10,200 SF Building FAR: 0.28 Floors: 1 Construction: - Parking: - Features: - Frontage: 84' on Trautwein Rd
CONSTRUCTION AVAILABILITY Start Date: Nov-2019 Percent Leased: 0% Completion: Aug-2020 Square Feet: 10,200 Build Time: 9 Months CoStar Est: $15 - 19 Delivery: 9 Months
CONTACTS Developer: - Owner: -
24 NWC Van Buren Blvd. & Meridian Pky - Retail Distance to Subject Shopping Center: 11.8 Miles
PROPERTY Type: Storefront Retail/Office Land Acres: 1.39 AC GLA: 9,054 SF Building FAR: 0.15 Floors: 1 Construction: Reinforced Concrete Parking: 41 Surface Spaces are available; Ratio of 4.52/1,000 SF Features: 24 Hour Access Frontage: 400' on Van Buren Boulevard (with 1 curb cut), 400' on Meridian Parkwa…
CONSTRUCTION AVAILABILITY Start Date: Sep-2019 Percent Leased: 0% Completion: Aug-2020 Square Feet: 9,054 Build Time: 11 Months CoStar Est: $19 - 23 Delivery: 9 Months
CONTACTS Developer: - Owner: Silagi Development & Management
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PREPARED BY
Debi Myers Owner Investment Trends Deanza Country Plaza
Sale Comparables Avg. Cap Rate Avg. Price/SF Avg. Vacancy At Sale 17 6.5% $173 6.1%
SALE COMPARABLE LOCATIONS
SALE COMPARABLES SUMMARY STATISTICS
Sales Attributes Low Average Median High Sale Price $970,000 $12,559,411 $7,300,000 $31,500,000
Price Per SF $27 $173 $176 $440
Cap Rate 5.0% 6.5% 6.4% 8.2%
Time Since Sale in Months 0.8 21.1 26.1 32.9
Center Attributes Low Average Median High GLA 8,210 75,009 58,623 199,584
Vacancy Rate At Sale 0% 6.1% 0% 20.5%
Year Built 1964 1987 1986 2007
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Center Sale
Center Name - Address Yr Built Vacancy Sale Date GLA Price Price/SF Cap Rate Corona Orchard Shopping Center 1 - 0% 10/22/2019 43,595 $19,200,000 $440 6.1% 1297-1299 E Ontario Ave Corona Hills Marketplace 2 1993 0% 8/14/2019 148,805 $31,500,000 $212 - 401-591 N McKinley St Archibald Plaza 3 2007 13.2% 1/18/2019 8,210 $2,400,000 $292 6.2% 2665 E Riverside Dr University Heights Shopping Center 4 1986 0% 11/8/2018 35,660 $7,300,000 $205 6.9% 3355 Iowa Ave Heritage Plaza 5 1994 19.1% 9/21/2018 124,550 $26,250,000 $211 8.2% 5130-5290 Arlington Ave Foothill Marketplace 6 1964 0% 6/14/2018 25,352 $3,950,000 $156 7.0% 564-578 W Foothill Blvd Corona Mall 7 1969 7.4% 6/5/2018 - $970,000 $27 - 400-545 S Main St Tyler Street Plaza 8 1999 0% 3/26/2018 86,108 $8,700,000 $101 7.3% 3838-3870 Tyler St McKinley Crossroads 9 1985 13.2% 9/12/2017 199,584 $24,675,000 $124 - 275-280 Teller St Rialto Gateway Plaza 10 1993 0% 8/2/2017 124,485 $6,100,000 $49 - 1610 S Riverside Ave Michael's Plaza 11 1986 1.9% 8/1/2017 62,952 $22,150,000 $352 6.4% 10303-10355 Magnolia Ave Sixth & Smith Plaza 12 - 10.0% 6/30/2017 48,998 $5,680,000 $116 6.2% 1441 W 6th St University Heights Shopping Center 13 1986 20.5% 5/25/2017 35,660 $6,265,000 $176 5.0% 3355 Iowa Ave Southridge Plaza 14 1991 0% 5/4/2017 119,359 $20,575,000 $172 6.6% 11613-11683 Cherry Ave Temescal Village Plaza 15 1983 6.4% 5/2/2017 64,441 $16,950,000 $263 6.7% 1181-1195 E Magnolia Ave Pacific Plaza 16 1989 0% 3/13/2017 18,094 $7,300,000 $403 5.8% 2544-2598 S Archibald Ave Stater Bros. Mission Blvd. 17 1983 4.6% 2/17/2017 54,294 $3,545,000 $65 6.4% 5571 Mission Blvd
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INLAND EMPIRE INVESTMENT TRENDS
Locals consist of the biggest buyers in the Inland Foods location in the Inland Empire. Empire’s retail market and recent transaction activity has Price appreciation has averaged 4% growth per year been slightly above the historical average. Few large over the last four years, and cap rates still hold a wide properties have traded this year, as malls and power gap relative to those in Southern California’s coastal centers have accounted for just a fraction of sales markets. A few of the largest trades involve properties volume. Neighborhood centers have remained an that traded at a cap rate over 7%. One of the largest attractive play for local investors, especially those sales this year involves the Menifee Town Center that anchored by a grocery store tenant. Continuing that traded in Julyr. A private buyer purchased the 124,400- trend, AEW Capital Management purchased a 77,700- SF retail center anchored by Ralph's and Ross that was SF neighborhood center (with two additional retail pads) 95% occupied at the time of the transaction. The cap for $50.5 million ($633/SF) in January 2019. The center rate stood at 7.1%. is anchored by Whole Foods 365 —the only Whole
SALES VOLUME & MARKET SALE PRICE PER SF
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SALES VOLUME & MARKET SALE PRICE PER SF
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1 Corona Orchard Shopping Center - 1297-1299 E Ontario Ave Distance to Subject Center: 10.0 mi
SALE CONTACTS Sale Type: Investment Buyer: Avenue One Realty Sale Date: 10/22/2019 Seller: FJ Hanshaw Enterpris… Sale Price: $19,200,000 Buyer Broker: Marcus & Millichap - C… Price/SF: $440 Listing Broker: - Cap Rate: 6.1%
SALE TERMS Sale Conditions: 1031 Exchange Financing: Mechanics Bank
SHOPPING CENTER Type: Neighborhood Center Land Acres: 4.05 AC Sale Vacancy: 0% # of Properties: 3 GLA: 43,595 SF Yr Blt/Renov: - Anchor GLA: 15,500 SF Avail Spaces: 3 Anchor Tenant: CVS Pharmacy Parking: 140 Surface Spaces Features: Pylon Sign, Signalized Intersection Frontage: E Ontario Ave 430', California Ave 215' For Sale: Not for sale Location Score: Excellent Location (74) Walk Score®: Somewhat Walkable (50) Transit Score®: Minimal Transit (19)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 1299 E Ontario Ave Retail 15,500 SF 100% $6,400,000 $412.90 Allocated 2150 E California Ave Retail 16,911 SF 100% $6,400,000 $378.45 Allocated 1297 E Ontario Ave Retail 11,184 SF 100% $6,400,000 $572.25 Allocated
SALE NOTES Off-market deal confirmed by the buyers broker and the seller. This is the sale of 43,595 square-feet of retail for $19.2 million or about $440 per- square-foot. The asset is Anchored by CVS whose lease expires 11/30/2026. The asset was delivered 100% occupied and the cap was reported by the broker to be 6.05%. The seller was the original owner of the asset. Buyer 1031 upleg.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Rubio's Fast-food 2,400 Yes Sep 2009 - Fedex Office Print & Ship Ctr Busin/Copy/PostServ 1,802 Yes Aug 2009 - Jersey Mike's Subs Sub Sandwich 1,800 Yes Sep 2013 - Flame Broiler Restaurant 1,344 No Jul 2016 - Nutrishop Health & Beauty Aids 1,330 Yes Jul 2016 - Fantastic Sams Salon/Barber/Spa 1,200 Yes Oct 2008 - Hairstylist Zelda Restaurant 1,200 No Jul 2019 - Juice It Up! Drinks/Juices 1,154 Yes Sep 2008 - Magic Wok Fast-food 400 Yes Mar 2009 -
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2 Corona Hills Marketplace - 401-591 N McKinley St Distance to Subject Center: 7.0 mi
SALE CONTACTS Sale Type: Investment Buyer: The Kroenke Group Sale Date: 8/14/2019 Seller: Kimco Realty Corpora… Sale Price: $31,500,000 Buyer Broker: - Price/SF: $212 Listing Broker: JLL - Bryan Ley, Danie… Cap Rate: -
SALE TERMS Sale Conditions: - Financing: -
SHOPPING CENTER Type: Community Center Land Acres: 29.27 AC Sale Vacancy: 0% # of Properties: 9 GLA: 290,367 SF Yr Blt/Renov: Built 1993 Anchor GLA: 206,116 SF Avail Spaces: - Anchor Tenant: Vons, Petsmart, Walmart Parking: 1,542 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Restaurant, Signage, Signalized… Frontage: N McKinley St 1,102', N McKinley St 559' For Sale: Not for sale Location Score: Excellent Location (87) Walk Score®: Very Walkable (77) Transit Score®: Some Transit (27)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 501 N Mckinley St Retail 5,990 SF 100% $1,268,002 $211.69 Allocated 477-591 N McKinley St Retail 76,935 SF 100% $16,286,096 $211.69 Allocated 529-555 N McKinley St Retail 65,880 SF 98% $13,945,902 $211.69 Allocated
SALE NOTES Confirmed by the sellers brokers this is the sale of Corona Hills Marketplace, a 148,805-square-foot, grocery-anchored community shopping center located in Corona, CA. The sale price was $31.5 million or about $211 per-square-foot. The asset is situated on 12.28 acres at 477-591 N. McKinley Street in the community of Corona Hills, which is in Riverside County, part of the Inland Empire. Anchored by Vons, PetSmart and Howard’s Appliances, Corona Hills Marketplace was 98% leased at closing to a diverse mix of daily-needs and service-oriented tenants and is shadow anchored by Walmart. The property’s location along McKinley Street in addition to visibility from the 91 Freeway exposes it to more than 209,000 vehicles per day. The cap rate was not disclosed.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Vons Supermarket 55,650 Yes Aug 2008 - Petsmart Pet Shop/Supplies 23,515 Yes Nov 2005 - Howard's Appliances Appliances 15,120 No Oct 2017 - Sapporo Seafood Buffet Restaurant 9,000 No Mar 2016 - Phenix Salon Suites Salon/Barber/Spa 6,800 Yes Jun 2016 May 2026 AutoZone Automotive 6,000 Yes Sep 2009 - Cicis Pizza 4,500 Yes Jun 2012 - Crown Board Shop - 4,500 No Jul 2016 - Moore's Vacuum Centers Hobby 4,000 No Jul 2013 - Kiku Sushi Restaurant 3,600 No Mar 2016 -
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3 Archibald Plaza - 2665 E Riverside Dr Distance to Subject Center: 8.5 mi
SALE CONTACTS Sale Type: Investment Buyer: Happy Tree, Inc. Sale Date: 1/18/2019 Seller: Parkcrest Properties Inc. Sale Price: $2,400,000 Buyer Broker: Ez Max - Watson Yeh Price/SF: $292 Listing Broker: Hanley Investment Gr… Cap Rate: 6.2%
SALE TERMS Sale Conditions: - Financing: Cathay Bank
SHOPPING CENTER Type: Neighborhood Center Land Acres: 6.38 AC Sale Vacancy: 13.2% # of Properties: 5 GLA: 48,870 SF Yr Blt/Renov: Built 2001 Anchor GLA: 15,120 SF Avail Spaces: - Anchor Tenant: Walgreens Parking: 318 Surface Spaces Features: - Frontage: E Riverside Dr 606', S Archibald Ave 203' For Sale: Not for sale Location Score: Excellent Location (70) Walk Score®: Somewhat Walkable (63) Transit Score®: Minimal Transit (23)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 2665 E Riverside Dr Retail 8,210 SF 100% $2,400,000 $292.33 -
SALE NOTES The 8,210-square-foot, multi-tenant retail property sold for $2,400,000 or about $292.33 per square foot. The actual cap rate was 6.19 percent and the property was 100 percent occupied at time of sale. It was reported that 71 percent of the tenants have been at the location since at least 2014 and Subway has been at the location since it's opening in 2007. The property is located at the signalized intersection of Archibald Avenue and Riverside Drive with 36,000 cars per day. It is located one mile south of State Route 60, connecting Downtown Los Angeles to the Inland Empire.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Club Bien - 1,196 No Feb 2019 - Pearl Massage - 1,196 No Dec 2015 - 24 Hours Personnel Services - 1,196 No Feb 2019 - Empire Barbers - 1,196 No Aug 2016 - Key Street Realty - 1,178 No Feb 2019 - First Rate Staffing - 1,178 No Nov 2018 Oct 2021 Paradise Tropical Fish - 1,098 No Feb 2019 - Ultimate Personnel Services Inc - 1,098 No Feb 2019 - Income Tax & Business Services - 1,098 No Feb 2019 - Quality Roof Repair Svc - 500 No Feb 2019 -
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4 University Heights Shopping Center - 3355 Iowa Ave Distance to Subject Center: 6.6 mi
SALE CONTACTS Sale Type: Investment Buyer: Gary I Harada Sale Date: 11/8/2018 Seller: Tu Nguyen Sale Price: $7,300,000 Buyer Broker: WestMar Commercial… Price/SF: $205 Listing Broker: Marcus & Millichap - B… Cap Rate: 6.9%
SALE TERMS Sale Conditions: 1031 Exchange Financing: -
SHOPPING CENTER Type: Neighborhood Center Land Acres: 2.75 AC Sale Vacancy: 0% # of Properties: 3 GLA: 35,660 SF Yr Blt/Renov: Built 1986 Anchor GLA: - Avail Spaces: 1 Anchor Tenant: - Parking: 180 Surface Spaces Features: Freeway Visibility, Pylon Sign Frontage: Iowa Ave 588', Blaine St 63' For Sale: Not for sale Location Score: Below National Avg (39) Walk Score®: Very Walkable (79) Transit Score®: Some Transit (46)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 1320 W Blaine St Retail 4,210 SF 100% $701,346 $166.59 Allocated 3355 Iowa Ave Retail 3,950 SF 100% $658,033 $166.59 Allocated 3375 Iowa Ave Retail 27,500 SF 100% $5,940,621 $216.02 Allocated
SALE NOTES The sales price was confirmed by one of the listing brokers and the buyer's broker. The sale is comprised of the University Heights Shopping Center, a retail center totaling 35,660 SF located at 3355 and 3375 Iowa Ave. and 1320 W. Blaine St. in Riverside, CA. The subject property was listed on the market at $7,625,000, and sold for $7.3 million or $205/SF. The in-place cap rate was reported at 6.88%; therefore, we were able to calculate the NOI. The subject property was fully leased at the time of sale. The property contains no deferred maintenance. The sale was an all cash transaction. The motivation for the seller was his downleg in a 1031 exchange. The motivation for the buyer was this upleg in a 1031 exchange.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Carnicera La Playita - 2,751 No Feb 2010 - Shop-N-Go - 2,751 No Jun 2012 - Iowa Coin Laundry - 2,448 No Mar 2018 Mar 2028 MetroPCS Wireless Commun 1,500 Yes Aug 2018 - Hala Produce & Market - 1,376 No Jun 2012 - All Music & Electronics - 1,376 No Jun 2012 - Edcas Insurance Services - 1,331 No Jun 2012 - My Hero-Subs - 1,209 No Jun 2012 - American Donuts Shop - 1,209 No Jun 2012 - CK Authentic Thai Massage, LLC - 825 No Jun 2018 Jun 2021
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5 Heritage Plaza - 5130-5290 Arlington Ave Distance to Subject Center: 3.3 mi
SALE CONTACTS Sale Type: Investment Buyer: Andrew Stupin, Gurdi… Sale Date: 9/21/2018 Seller: United American Prop… Sale Price: $26,250,000 Buyer Broker: CBRE - Alan Krueger,… Price/SF: $211 Listing Broker: CBRE - Alan Krueger,… Cap Rate: 8.2%
SALE TERMS Sale Conditions: - Financing: City National Bank
SHOPPING CENTER Type: Neighborhood Center Land Acres: 11.40 AC Sale Vacancy: 19.1% # of Properties: 3 GLA: 124,550 SF Yr Blt/Renov: Built 1994 Anchor GLA: 23,202 SF Avail Spaces: 9 Anchor Tenant: Smart & Final Parking: 564 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Signalized Intersection, Kiosk Cart Frontage: Arlington Ave 998' For Sale: Not for sale Location Score: Excellent Location (75) Walk Score®: Somewhat Walkable (61) Transit Score®: Some Transit (38)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 5290 Arlington Ave Retail 2,018 SF 100% $1,051,022 $520.82 Allocated 5130 Arlington Ave Retail 3,484 SF 100% $1,814,536 $520.82 Allocated 5130-5290 Arlington Ave Retail 119,048 SF 80% $23,384,442 $196.43 Allocated
SALE NOTES This is the sale of Heritage Plaza, a 119,048 SF retail center located in Riverside, CA. at 5130-5290 Arlington Avenue. Comp information was confirmed by the brokers that worked both sides of the deal. Traditional Shopping Center Layout consisting of a Grocery Anchor, Shop Space, and Two Drive Through Pad Buildings. Over 79.4% of Occupied GLA Businesses Have Occupied the Center Since 2007 or Earlier. Over 600' of Frontage Along Arlington Ave. Multiple Ingress/Egress Points with Easily Accessible Parking.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Smart & Final Supermarket 23,202 Yes Jun 2011 Jul 2020 WaBa Grill Franchise Corp Restaurant 5,042 No Nov 2016 Oct 2026 Avenue Ladies' Apparel 4,400 Yes Oct 2019 - Rent-A-Center Rental Shop 4,000 Yes Apr 2006 - United States Postal Service Other Office 3,757 Yes Mar 2010 - Farfalla's Cucina Italiana Restaurant 3,620 No Apr 2018 - HoneyBaked Ham Company Specialty Foods 2,626 Yes Nov 2005 - BBVA Compass Bank 2,500 Yes Mar 2010 - Alberto's Mexican Food Fast-food 2,400 Yes Jun 2015 - Salon Centric Health & Beauty Aids 2,311 Yes Jun 2012 -
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6 Foothill Marketplace - 564-578 W Foothill Blvd Distance to Subject Center: 10.0 mi
SALE CONTACTS Sale Type: Investment Buyer: DZ Property Managem… Sale Date: 6/14/2018 Seller: Julian Jung Im Lee &… Sale Price: $3,950,000 Buyer Broker: EJ Realty & Investmen… Price/SF: $156 Listing Broker: EJ Realty & Investmen… Cap Rate: 7.0%
SALE TERMS Sale Conditions: 1031 Exchange Financing: Bank of Hope
SHOPPING CENTER Type: Neighborhood Center Land Acres: 3.25 AC Sale Vacancy: 0% # of Properties: 2 GLA: 52,852 SF Yr Blt/Renov: Built 1964 Anchor GLA: - Avail Spaces: - Anchor Tenant: - Parking: 190 Surface Spaces Features: - Frontage: W Foothill Blvd 585' For Sale: Not for sale Location Score: Below National Avg (49) Walk Score®: Very Walkable (71) Transit Score®: Some Transit (35)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 548-552 W Foothill Blvd Retail 25,352 SF 100% $3,950,000 $155.81 -
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Family Dollar Other Retail 9,602 No Jul 2016 - Furniture 4 Less - 6,450 No Oct 2017 - Coin Wash Plus - 6,337 No Jul 2005 - Internet Cafe Llc - 1,500 No Aug 2012 - Royal Smoke Shop - 1,500 No Nov 2013 - Premier Barbers - 1,500 No Oct 2016 -
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7 Corona Mall - 400-545 S Main St Distance to Subject Center: 9.2 mi
SALE CONTACTS Sale Type: Investment Buyer: Lab Holding, LLC Sale Date: 6/5/2018 Seller: City of Corona Sale Price: $970,000 Buyer Broker: - Price/SF: $27 Listing Broker: - Cap Rate: -
SALE TERMS Sale Conditions: Deferred Maintenance, Redevelopment Project Financing: -
SHOPPING CENTER Type: Community Center Land Acres: 2.44 AC Sale Vacancy: 7.4% # of Properties: 9 GLA: 95,255 SF Yr Blt/Renov: Built 1960, Renov 1993 Anchor GLA: - Avail Spaces: 2 Anchor Tenant: - Parking: 343 Surface Spaces Features: Dedicated Turn Lane, Pylon Sign, Signalized Intersection Frontage: S Main St 713', S Ramona Ave 384' For Sale: 9,100 SF Property Sale For $1,595,000 Location Score: Good Location (50) Walk Score®: Very Walkable (89) Transit Score®: Some Transit (40)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 505 Corona Mall Retail 0 SF 100% - - - 462 Corona Mall Retail 0 SF - - - - 131-487 Corona Mall Retail 0 SF - - - - 131-487 Corona Mall Retail 0 SF - - - - 555-591 Corona Mall Retail 0 SF - - - - 555-591 Corona Mall Retail 0 SF - - - - 555-591 Corona Mall Retail 0 SF - - - - 525 S Corona Mall Retail 0 SF 100% - - -
SALE NOTES The buyer in the recent acquisition of a portion of the Corona Mall confirmed their motivation for the deal. The purchaser specializes in the redevelopment and revitalization of shopping centers and other related public spaces and saw an investment opportunity with the location. While the sale does not apply to the complex as a whole, the spaces the buyer has acquired will be redeveloped and improved for use with future tenants.
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date All American Karate School - 10,229 No Aug 2009 -
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8 Tyler Street Plaza - 3838-3870 Tyler St Distance to Subject Center: 4.4 mi
SALE CONTACTS Sale Type: Investment Buyer: Joy Max Trading, Inc. Sale Date: 3/26/2018 Seller: Kimco Realty Sale Price: $8,700,000 Buyer Broker: JK Property Service In… Price/SF: $101 Listing Broker: Newmark Knight Fran… Cap Rate: 7.3%
SALE TERMS Sale Conditions: - Financing: -
SHOPPING CENTER Type: Neighborhood Center Land Acres: 5.75 AC Sale Vacancy: 0% # of Properties: 3 GLA: 86,108 SF Yr Blt/Renov: Built 1999 Anchor GLA: 67,104 SF Avail Spaces: 1 Anchor Tenant: Burlington Stores Parking: 305 Surface Spaces Features: Dedicated Turn Lane, Restaurant, Signage Frontage: Tyler St 545' For Sale: Not for sale Location Score: Good Location (57) Walk Score®: Very Walkable (79) Transit Score®: Some Transit (47)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 3870 Tyler St Retail 67,104 SF 100% $4,499,604 $67.05 Allocated 3852-3868 Tyler St Retail 11,811 SF 100% $3,393,930 $287.35 Allocated 3838 Tyler St Retail 7,193 SF 100% $806,466 $112.12 Allocated
SALE NOTES This shopping center sold on March 26th, 2018, for $8,700,000. It was fully occupied at the time of sale. This was the buyer's up-leg in a 1031 exchange.
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Burlington Stores Dept Store 67,104 Yes Sep 2008 - Original Roadhouse Grill Restaurant 7,193 Yes Oct 2019 - Sola Salon Studios Salon/Barber/Spa 5,467 Yes Dec 2017 - Capezio - 2,100 No Mar 2016 - Smile Maker Dental - 2,041 No Jun 2006 - Jenny's Nails & Spa - 1,200 No Jun 2006 - PC House - 1,003 No Jun 2006 -
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9 McKinley Crossroads - 275-280 Teller St Distance to Subject Center: 7.3 mi
SALE CONTACTS Sale Type: Investment Buyer: ShopOne Centers REI… Sale Date: 9/12/2017 Seller: Torchlight Loan Servi… Sale Price: $24,675,000 Buyer Broker: - Price/SF: $124 Listing Broker: Mission Capital Advis… Cap Rate: -
SALE TERMS Sale Conditions: Auction Sale, REO Sale Financing: -
SHOPPING CENTER Type: Community Center Land Acres: 8.74 AC Sale Vacancy: 13.2% # of Properties: 3 GLA: 199,584 SF Yr Blt/Renov: Built 1985, Renov 2000 Anchor GLA: - Avail Spaces: 2 Anchor Tenant: - Parking: 260 Surface Spaces Features: Freeway Visibility, Pylon Sign, Signage Frontage: 91 Fwy 666', Nevada St 287' For Sale: Not for sale Location Score: Excellent Location (79) Walk Score®: Somewhat Walkable (55) Transit Score®: Some Transit (34)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 275 Teller St Retail 46,628 SF 100% $5,529,673 $118.59 Allocated 284 Dupont St Retail 77,379 SF 100% $6,471,633 $83.64 Allocated 280 Teller St Retail 75,577 SF 65% $12,673,694 $167.69 Allocated
SALE NOTES An affiliate of ShopOne Centers REIT, Inc. acquired McKinley Crossroads, a 202,134 SF retail shopping center, in Corona, CA for $24.675 million or approx. $122/sf. The property consists of three buildings situated on a 13.89-acre site located at the intersection of Teller Street and Dupont Street. The plaza is made up of a mixture of local and national tenants and is anchored by Simply Fresh Market and 24 Hour Fitness Center. Other notable tenants at the property include Office Furniture Outlet, Alexander Arman Salon & Spa, and Sherwin Williams. There was approx. 61% occupancy at the time of sale. This was a REO sale that was handled by the assigned special servicer, Torchlight Investors. Torchlight took over the property after the previous owner defaulted on their CMBS note from Credit Suisse First Boston Mortgage Securities Corp, Commercial Mortgage Trust Securities 2005-C6. Mission Capital Advisors LLC and Ten-X handled the auction sales transaction. Additional details will be updated as available.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date 24 Hour Fitness Fitness 39,460 Yes Feb 2006 - Simply Fresh Market - 21,076 No May 2019 - Office Furniture Outlet Furniture/Mattress 15,145 No Aug 2018 Feb 2021 Alexanders Arman/Premiere Salon/Barber/Spa 10,322 No Mar 2013 - Savy Chic Kids Consignment - 7,817 No Feb 2019 - Lumber Liquidators Floor Covering 6,908 Yes Mar 2014 Mar 2021 Sherwin-Williams Paint/Wallpaper 5,800 Yes Feb 2019 - Sherwin-Williams Paint/Wallpaper 4,923 Yes Mar 2009 - World Class Modeling Talent Studio Other Services 4,750 No Feb 2019 - Kidspark Other Services 4,373 No Sep 2015 -
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10 Rialto Gateway Plaza - 1610 S Riverside Ave Distance to Subject Center: 8.3 mi
SALE CONTACTS Sale Type: Owner User Buyer: Pacifica Companies Sale Date: 8/2/2017 Seller: Walmart, Inc. Sale Price: $6,100,000 Buyer Broker: - Price/SF: $49 Listing Broker: SRS Real Estate Partn… Cap Rate: -
SALE TERMS Sale Conditions: - Financing: -
SHOPPING CENTER Type: Community Center Land Acres: 8.31 AC Sale Vacancy: 0% # of Properties: 3 GLA: 134,043 SF Yr Blt/Renov: Built 1993 Anchor GLA: - Avail Spaces: 2 Anchor Tenant: - Parking: 395 Surface Spaces Features: - Frontage: S Riverside Ave 1,079', Valley 537' For Sale: Not for sale Location Score: Below National Avg (31) Walk Score®: Car-Dependent (44) Transit Score®: Some Transit (31)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 1610 S Riverside Ave Retail 124,485 SF 0% $6,100,000 $49.00 -
SALE NOTES The sales price was confirmed by the buyer. No sale conditions or 1031 exchange. The building was vacant at the time of sale.
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date National Vision, Inc - 6,086 No Apr 2012 - McDonald's Fast-food 2,633 Yes Dec 2017 - Jackson Hewitt Acctg/Tax Prep 800 Yes Apr 2006 -
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11 Michael's Plaza - 10303-10355 Magnolia Ave Distance to Subject Center: 4.4 mi
SALE CONTACTS Sale Type: Investment Buyer: jKim Group, Inc. Sale Date: 8/1/2017 Seller: The Krausz Companie… Sale Price: $22,150,000 Buyer Broker: jKim Group, Inc. - Jeff… Price/SF: $352 Listing Broker: Hanley Investment Gr… Cap Rate: 6.4%
SALE TERMS Sale Conditions: 1031 Exchange Financing: Goldman Sach Mortgage Company
SHOPPING CENTER Type: Neighborhood Center Land Acres: 5.95 AC Sale Vacancy: 1.9% # of Properties: 5 GLA: 78,314 SF Yr Blt/Renov: Built 1986 Anchor GLA: 37,016 SF Avail Spaces: 2 Anchor Tenant: Lamps Plus, Michaels Parking: 374 Surface Spaces Features: Bus Line, Dedicated Turn Lane, Pylon Sign, Signage, Signalized Int… Frontage: Tyler St 547', Magnolia Ave 466' For Sale: Not for sale Location Score: Good Location (57) Walk Score®: Very Walkable (84) Transit Score®: Some Transit (47)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 10303-10351 Magnolia Ave Retail 49,153 SF 98% $18,461,924 $375.60 Allocated 10357 Magnolia Ave Retail 13,799 SF 100% $3,688,076 $267.27 Allocated
SALE NOTES jKim Group Inc acquired the Michael's Plaza in Riverside from The Krausz Companies Inc for $22.15 million, roughly $352 per square foot. The buyer exchanged in to this new asset via a $16 million down leg in Buena Park. See CoStar Comp ID 3852494 for more info. The asset was almost 98% occupied at the time of the sale and producing $$1,406,525 in net operating income equating to a cap of 6.35%. The transaction was in escrow for 75 days. The buyer represented themselves on the deal.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Michaels Hobby 23,000 Yes Jan 2018 - Lamps Plus Lamps/Lighting 10,016 Yes Feb 2010 Apr 2020 David's Bridal Ladies' Apparel 9,000 Yes Feb 2010 - Top City Nails - 3,854 No Sep 2017 - A Child's View - 2,454 No Apr 2018 - Flame Broiler Restaurant 1,650 No Feb 2011 - Gamestop Game Store 1,238 No Jan 2007 - Bollywood Threading Salon/Barber/Spa 1,170 No Oct 2019 - FJS Hearing Professionals - 1,050 No Apr 2018 - Miracle-Ear Health Care 1,050 Yes Jul 2014 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 123 Sale Comp Details Deanza Country Plaza
12 Sixth & Smith Plaza - 1441 W 6th St Distance to Subject Center: 10.4 mi
SALE CONTACTS Sale Type: Investment Buyer: Weibin Wang Sale Date: 6/30/2017 Seller: Jack & Teresa Lin Sale Price: $5,680,000 Buyer Broker: Lee & Associates - Au… Price/SF: $116 Listing Broker: Lee & Associates - Au… Cap Rate: 6.2%
SALE TERMS Sale Conditions: 1031 Exchange Financing: Prime Alliance Bank
SHOPPING CENTER Type: Neighborhood Center Land Acres: 2.90 AC Sale Vacancy: 10.0% # of Properties: 3 GLA: 48,998 SF Yr Blt/Renov: - Anchor GLA: - Avail Spaces: 1 Anchor Tenant: - Parking: 120 Surface Spaces Features: - Frontage: S Smith Ave 387', W 6th St 168' For Sale: Not for sale Location Score: Best Location (95) Walk Score®: Very Walkable (73) Transit Score®: Some Transit (33)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 1441 W 6th St Retail 5,920 SF 100% $958,665 $161.94 Allocated 1453 W 6th St Retail 8,575 SF 100% $1,139,024 $132.83 Allocated 1443 W 6th St Retail 34,503 SF 86% $3,582,311 $103.83 Allocated
SALE NOTES This is the sellers downleg in a 1031 exchange. The seller was motivated to sell the property because they are wanting to retire so looking for an easy more manageable property close to home. The buyer was attracted to the property because of its location, near other properties they own.
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 124 Sale Comp Details Deanza Country Plaza
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date European Car Care - 5,175 No Nov 2011 - Just Audio - 3,639 No Jul 2012 - Auto Repair 4 Less - 3,450 No Nov 2011 - Stereo Pros - 1,776 No Dec 2013 - A-1 Tune & Lube - 1,776 No Dec 2013 - Larry's Transmission - 1,725 No Aug 2013 - Corona Smog - 1,715 No Dec 2006 - Mota Mufflers & Brakes - 500 No Aug 2009 - Affordable Auto Care - 500 No Dec 2011 - Wholesale Tire & Automotive - 500 No Dec 2013 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 125 Sale Comp Details Deanza Country Plaza
13 University Heights Shopping Center - 3355 Iowa Ave Distance to Subject Center: 6.6 mi
SALE CONTACTS Sale Type: Investment Buyer: Tu Nguyen Sale Date: 5/25/2017 Seller: Hui-Chen Yuan Kao, K… Sale Price: $6,265,000 Buyer Broker: Marcus & Millichap - R… Price/SF: $176 Listing Broker: Marcus & Millichap - R… Cap Rate: 5.0%
SALE TERMS Sale Conditions: 1031 Exchange Financing: Prime Alliance Bank
SHOPPING CENTER Type: Neighborhood Center Land Acres: 2.75 AC Sale Vacancy: 20.5% # of Properties: 3 GLA: 35,660 SF Yr Blt/Renov: Built 1986 Anchor GLA: - Avail Spaces: 1 Anchor Tenant: - Parking: 180 Surface Spaces Features: Freeway Visibility, Pylon Sign Frontage: Iowa Ave 588', Blaine St 63' For Sale: Not for sale Location Score: Below National Avg (39) Walk Score®: Very Walkable (79) Transit Score®: Some Transit (46)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 3375 Iowa Ave Retail 27,500 SF 82% $4,334,127 $157.60 Allocated 1320 W Blaine St Retail 4,210 SF 100% $1,003,871 $238.45 Allocated 3355 Iowa Ave Retail 3,950 SF 100% $927,002 $234.68 Allocated
SALE NOTES Comp information was confirmed by the broker that worked both sides of the deal. This was part of a 1031 exchange for the seller.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Carnicera La Playita - 2,751 No Feb 2010 - Shop-N-Go - 2,751 No Jun 2012 - Hala Produce & Market - 1,376 No Jun 2012 - Best Cleaners - 1,376 No May 2017 - All Music & Electronics - 1,376 No Jun 2012 - Edcas Insurance Services - 1,331 No Jun 2012 - My Hero-Subs - 1,209 No Jun 2012 - American Donuts Shop - 1,209 No Jun 2012 - Ace Dental Group - 806 No Jun 2012 - Morgan Barber Shop 4 - 806 No Sep 2017 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 127 Sale Comp Details Deanza Country Plaza
14 Southridge Plaza - 11613-11683 Cherry Ave Distance to Subject Center: 4.6 mi
SALE CONTACTS Sale Type: Investment Buyer: Spathco Sale Date: 5/4/2017 Seller: Fortress Investment G… Sale Price: $20,575,000 Buyer Broker: Faris Lee Investments… Price/SF: $172 Listing Broker: Faris Lee Investments… Cap Rate: 6.6%
SALE TERMS Sale Conditions: - Financing: Barclays Bank
SHOPPING CENTER Type: Neighborhood Center Land Acres: 12.70 AC Sale Vacancy: 0% # of Properties: 6 GLA: 119,359 SF Yr Blt/Renov: Built 1991 Anchor GLA: 34,000 SF Avail Spaces: 4 Anchor Tenant: Rio Ranch Market Parking: 520 Surface Spaces Features: Pylon Sign Frontage: Live Oak 912', Cherry Ave 632' For Sale: Not for sale Location Score: Good Location (55) Walk Score®: Car-Dependent (48) Transit Score®: Some Transit (26)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 11613 Cherry Ave Retail 4,680 SF 100% $983,857 $210.23 Allocated 11663 Cherry Ave Retail 4,679 SF 100% $1,259,603 $269.20 Allocated 11647 Cherry Ave Retail 45,000 SF 100% $7,705,712 $171.24 Allocated 11613 Cherry Ave Retail 4,200 SF 100% $930,005 $221.43 Allocated 11667-11683 Cherry Ave Retail 38,547 SF 100% $6,336,561 $164.39 Allocated 11617-11637 Cherry Ave Retail 22,253 SF 100% $3,359,262 $150.96 Allocated
SALE NOTES On May 4, 2017, the 119,359 SF retail center located in Fontana, CA, sold for $20,575,000, or $172.38 per SF. The asset traded between Fortress Investment Group LLC and Spathco. Southridge Plaza was 96% leased at the time of sale. The grocery-anchored center (Rio Ranch Market) features notable tenants: Rite Aid, Family Dollar, Subway, Bank of America, McDonalds, AutoZone, WaBa, and Boost Mobile. An in-place cap rate of 6.55% was reported on the transaction. Information was confirmed with the brokerage firm involved.
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LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Rio Ranch Market Supermarket 34,000 Yes Feb 2016 Dec 2021 Rite Aid Drug Store 18,856 Yes May 2016 - Family Dollar Dollar/Variety/Thrift 10,000 Yes Jul 2013 - AutoZone Automotive 7,000 Yes Feb 2006 - McDonald's Fast-food 4,679 Yes Mar 2010 - Pancho Villa's Resturant Restaurant 4,471 No Apr 2016 Mar 2026 Round Table Pizza Pizza 3,500 Yes Oct 2010 - Pizza Hut Pizza 2,750 Yes Apr 2006 - Waba Grill - 2,400 No Apr 2014 Apr 2024 Nogales Burgers - 2,340 No Jan 2015 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 129 Sale Comp Details Deanza Country Plaza
15 Temescal Village Plaza - 1181-1195 E Magnolia Ave Distance to Subject Center: 9.2 mi
SALE CONTACTS Sale Type: Investment Buyer: PASSCO Companies,… Sale Date: 5/2/2017 Seller: RAI Wealth Management Sale Price: $16,950,000 Buyer Broker: - Price/SF: $263 Listing Broker: Cushman & Wakefield… Cap Rate: 6.7%
SALE TERMS Sale Conditions: - Financing: Bank of America NA
SHOPPING CENTER Type: Neighborhood Center Land Acres: 10.14 AC Sale Vacancy: 6.4% # of Properties: 6 GLA: 103,820 SF Yr Blt/Renov: Built 1983, Renov 1989 Anchor GLA: 45,421 SF Avail Spaces: 5 Anchor Tenant: Stater Bros Markets, CVS Pharmacy Parking: 859 Surface Spaces Features: Bus Line, Pylon Sign, Signalized Intersection, Kiosk Cart Frontage: Rimpau Ave 1,045', Magnolia Ave 761' For Sale: Not for sale Location Score: Good Location (59) Walk Score®: Somewhat Walkable (60) Transit Score®: Minimal Transit (23)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 1199 E Magnolia Ave Retail 3,886 SF 100% $1,510,540 $388.71 Allocated 1181-1195 Magnolia Ave Retail 53,055 SF 98% $12,369,141 $233.14 Allocated 1189 E Magnolia Ave Retail 3,468 SF 100% $1,348,059 $388.71 Allocated 1197 E Magnolia Ave Retail 4,032 SF 100% $1,722,259 $427.15 Allocated
SALE NOTES On May 2, 2017, the 63,606 SF retail asset located at 1181-1199 Magnolia Ave, Corona, CA, sold for $16,950,000, or $266.48 per SF. The asset traded between RAI Wealth Management and PASSCO Companies, LLC. Temescal Village Plaza totals 102,976 SF, however only 63,606 SF was involved in the transfer. The center delivered in 1983. It is currently 93.5% leased to 19 tenants, including CVS Pharmacy, Citibank, Carl’s Jr., Wells Fargo, H&R Block, the UPS Store, County of Riverside and Metro PCS. Per a press released issued by both the brokerage firm and buyer, the buyer plans to "...integrate a series of capital improvements and experience-driven amenities." Per the buyer, "In doing so, we will be able to increase foot traffic to the center, as well as attract and retain high-quality retailers. This will drive the long-term value of the asset and allow us to grow rents as leases roll. Many of the current tenants have been located at the center since the 1980s and have rents that are well-below market value, providing a strong opportunity for upside potential." The buyer group secured acquisition financing in the amount of $11,000,000. Please note that The Stater Bros. (30,430 SF) and Belltower School (8,949 SF) were not included and are separately owned. Information was verified with both parties.
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 130 Sale Comp Details Deanza Country Plaza
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date CVS Pharmacy Drug Store 15,000 Yes Oct 2006 - Red Ginger China Bistro - 5,515 No Apr 2014 - Riverside County Mental Health MD/DDS 5,000 No Jul 2016 - Jersey's Pizzeria & Restaurant - 4,000 No Apr 2014 - Citibank Bank 3,468 Yes Jan 2007 - Carl's Jr. Fast-food 2,450 Yes Dec 2006 - Crumbles Cookies - 2,000 No Apr 2007 - Passion Hair Salon/Barber/Spa 1,140 No Nov 2005 - Corona Music Center - 1,103 No Apr 2007 - The UPS Store Busin/Copy/PostServ 1,103 Yes Mar 2009 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 131 Sale Comp Details Deanza Country Plaza
16 Pacific Plaza - 2544-2598 S Archibald Ave Distance to Subject Center: 8.6 mi
SALE CONTACTS Sale Type: Investment Buyer: B Mann's Properties Inc Sale Date: 3/13/2017 Seller: Joseph Rivani, PacWe… Sale Price: $7,300,000 Buyer Broker: CBRE - Alan Krueger Price/SF: $403 Listing Broker: CBRE - Alan Krueger Cap Rate: 5.8%
SALE TERMS Sale Conditions: 1031 Exchange Financing: -
SHOPPING CENTER Type: Neighborhood Center Land Acres: 8.65 AC Sale Vacancy: 0% # of Properties: 5 GLA: 103,947 SF Yr Blt/Renov: Built 1989 Anchor GLA: - Avail Spaces: 1 Anchor Tenant: - Parking: 660 Surface Spaces Features: Dedicated Turn Lane, Freeway Visibility, Pylon Sign, Signalized Int… Frontage: Walnut 836', S Archibald Ave 553' For Sale: Not for sale Location Score: Good Location (59) Walk Score®: Somewhat Walkable (55) Transit Score®: Minimal Transit (19)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 2598 S Archibald Ave Retail 18,094 SF 100% $7,300,000 $403.45 -
SALE NOTES Comp information was confirmed by the broker that worked both sides of the deal and the seller. This was part of a 1031 exchange for both sides.
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Century21 - 5,911 No Jul 2018 - Pizza Hut Pizza 2,750 Yes Apr 2006 - Ontario Cleaners Cleaners 1,260 No Apr 2006 - Ingrid Mack DDS Llc - 1,225 No Dec 2011 -
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 132 Sale Comp Details Deanza Country Plaza
17 Stater Bros. Mission Blvd. - 5571 Mission Blvd Distance to Subject Center: 3.4 mi
SALE CONTACTS Sale Type: Investment Buyer: Jack Nourafshan Sale Date: 2/17/2017 Seller: Vornado Realty Trust,… Sale Price: $3,545,000 Buyer Broker: Matthews Real Estate I… Price/SF: $65 Listing Broker: Matthews Real Estate I… Cap Rate: 6.4%
SALE TERMS Sale Conditions: - Financing: -
SHOPPING CENTER Type: Neighborhood Center Land Acres: 11.34 AC Sale Vacancy: 4.6% # of Properties: 3 GLA: 54,294 SF Yr Blt/Renov: Built 1983 Anchor GLA: 40,793 SF Avail Spaces: - Anchor Tenant: Stater Bros Markets Parking: 246 Surface Spaces Features: Pylon Sign Frontage: Mission Blvd 368' For Sale: Not for sale Location Score: Below National Avg (36) Walk Score®: Very Walkable (73) Transit Score®: Some Transit (29)
SOLD PROPERTIES
Address Property Type Rating GLA % Leased Sale Price Price/SF Price Status 5565-5567 Mission Blvd Retail 4,294 SF 42% $181,461 $42.26 Allocated 5571 Mission Blvd Retail 40,793 SF 100% $2,587,507 $63.43 Allocated 5573-5583 Mission Blvd Retail 9,207 SF 100% $776,032 $84.29 Allocated
SALE NOTES Parties involved with this transaction could not be reached for comment. All information gathered is from public records.
LARGEST TENANTS AT SALE
Tenant Store Type SF Occupied Chain Move Date Exp Date Stater Bros Markets Supermarket 40,793 Yes Aug 1983 - 20 20 Mobile - 2,338 No May 2011 - Pharmacy Express - 2,338 No May 2011 - Launderland - 1,822 No May 2011 -
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RIVERSIDE SUBMARKET SALES VOLUME IN SQUARE FEET
INLAND EMPIRE EAST SUBMARKET CLUSTER SALES VOLUME IN SQUARE FEET
INLAND EMPIRE METRO SALES VOLUME IN SQUARE FEET
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NATIONAL PRICE INDICES
REGIONAL RETAIL PRICE INDICES
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PRICE PER SF INDEX
UNITED STATES CENTERS PRICE PER SF IN PAST YEAR INLAND EMPIRE CENTERS PRICE PER SF IN PAST YEAR
PRICE PER SF SUMMARY OF SHOPPING CENTER SALES IN PAST YEAR
Geography Transactions Low Bottom 25% Median Average Top 25% High United States 2,727 $0.02 $32 $112 $132 $381 $2,029 Inland Empire 58 $12 $74 $212 $202 $445 $812 Inland Empire East 44 $53 $73 $200 $203 $445 $812 Riverside 5 $130 $133 $236 $256 $490 $645 Selected Sale Comps 3 $212 N/A $292 $265 N/A $440
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 136 Cap Rates Deanza Country Plaza
CAP RATE TRENDS
UNITED STATES CENTERS CAP RATES IN PAST YEAR INLAND EMPIRE CENTERS CAP RATES IN PAST YEAR
CAP RATE SUMMARY OF SHOPPING CENTER SALES IN PAST YEAR
Geography Transactions Low Bottom 25% Median Average Top 25% High United States 1,217 1.7% 5.6% 7.6% 7.8% 10.2% 21.3% Inland Empire 32 4.8% 5.3% 6.4% 6.4% 7.8% 8.6% Inland Empire East 24 4.8% 5.3% 6.4% 6.4% 7.9% 8.6% Riverside 2 5.7% N/A 6.1% 6.1% N/A 6.5% Selected Sale Comps 2 6.1% N/A 6.1% 6.1% N/A 6.2%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 137 Buyers Deanza Country Plaza
TOP INLAND EMPIRE RETAIL BUYERS PAST TWO YEARS
Properties Bought Properties Sold
Company Name Bldgs SF Volume Bldgs SF Volume JH Real Estate Partners, Inc. 20 392,658 $89,000,002 0 0 - Shin Yen International Pty, Ltd. 5 281,286 $71,656,000 0 0 - International Growth Properties 3 645,623 $63,750,000 0 0 - Neng-Yi Liao 10 315,839 $61,733,223 0 0 - Pacific Castle, Inc. 13 91,641 $44,262,467 0 0 - AEW Capital Management 3 67,190 $39,201,932 0 0 - Gateway American Resources 17 403,772 $38,400,002 0 0 - Wood Investments, Inc. 19 518,264 $38,400,002 0 0 - Cardinal Capital Partners, Inc. 3 172,450 $37,102,500 2 129,820 $32,704,889 SoftBank Group Corp 3 172,450 $37,102,500 2 129,820 $32,704,889 CIRE Partners 19 386,979 $32,650,000 2 10,694 $4,500,000 The Kroenke Group 3 148,805 $31,500,000 0 0 - SandTree Holdings LLC 9 150,148 $31,400,002 0 0 - IDS Real Estate Group 3 107,034 $30,000,000 3 107,034 $30,000,000 Red Mountain Retail Group, Inc. 12 199,528 $28,334,652 2 51,718 $20,780,000 Andrew Stupin 3 124,550 $26,250,000 0 0 - Gurdip Malik 3 124,550 $26,250,000 0 0 - EPR Properties 2 111,634 $25,352,320 0 0 - Fabio Conti 5 157,847 $25,349,999 0 0 - Anthony K Mirzaie 1 57,497 $24,478,000 0 0 - Real Journey Academics 1 113,357 $24,250,000 0 0 - Smart Loan Capital 6 77,763 $24,010,999 0 0 - REGA Group 7 99,238 $23,999,999 0 0 - Shou-Jen Men 5 113,171 $22,900,001 0 0 - Oremor Automotive Group 4 61,886 $22,550,000 0 0 -
Purchased at least one asset in Riverside submarket
TYPES OF RETAIL INLAND EMPIRE BUYERS PAST TWO YEARS
Buying Volume Average Purchase
Company Type Bldgs SF Billions Price/SF Avg Price
Private 752 10,628,548 $2.2 $208 $2,940,727
User 127 2,029,195 $0.4 $183 $2,934,094
Institutional 48 1,080,602 $0.3 $242 $5,458,183
REIT/Public 7 191,187 $0 $252 $6,885,177
Private Equity 1 4,400 $0 $3,295 $14,500,000
$0 $0.6 $1.2 $1.8 $2.4
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 138 Sellers Deanza Country Plaza
TOP INLAND EMPIRE RETAIL SELLERS PAST TWO YEARS
Properties Sold Properties Bought
Company Name Bldgs SF Volume Bldgs SF Volume Weingarten Realty Investors 36 676,728 $146,344,091 0 0 - Lewis Management Corp. 13 312,285 $99,309,000 1 23,113 $3,300,000 Albertsons Companies 7 427,469 $76,855,500 0 0 - CW Capital 6 617,875 $67,250,000 0 0 - U.S. Bank 2 491,063 $60,250,000 0 0 - Brixton Capital AC LLC 9 270,719 $50,033,223 0 0 - Diamond Development,LLC 13 91,641 $44,262,467 0 0 - Kimco Realty Corporation 6 234,913 $40,200,000 0 0 - LStar Ventures 3 67,190 $39,201,932 0 0 - World Premier Investments, Inc. 4 137,354 $35,750,000 0 0 - Evergreen Development Co. 7 40,229 $34,388,149 0 0 - Cardinal Capital Partners, Inc. 2 129,820 $32,704,889 3 172,450 $37,102,500 SoftBank Group Corp 2 129,820 $32,704,889 3 172,450 $37,102,500 USAA 11 249,465 $32,650,000 0 0 - Cadence Capital Investments LLC 9 133,241 $32,542,000 0 0 - The Coudures Family LP 9 150,148 $31,400,002 0 0 - IDS Real Estate Group 3 107,034 $30,000,000 3 107,034 $30,000,000 Regency Centers Corporation 12 199,528 $28,334,652 0 0 - Peninsula Retail Partners LLC 5 104,890 $26,881,500 1 38,000 $925,000 United American Properties 5 132,465 $26,250,000 0 0 - Muirfield Properties 4 50,564 $25,650,000 0 0 - Cineworld 2 111,634 $25,352,320 0 0 - Castlelake LP 1 113,357 $24,250,000 0 0 - Phillips Edison & Company 6 77,763 $24,010,999 7 80,259 $21,617,000 Chesser Group, Inc. 7 99,238 $23,999,999 0 0 -
Sold at least one asset in Riverside submarket
TYPES OF RETAIL INLAND EMPIRE SELLERS PAST TWO YEARS
Selling Volume Average Sale
Company Type Bldgs SF Billions Price/SF Avg Price
Private 747 8,991,890 $2.1 $235 $2,834,109
Institutional 61 2,284,044 $0.4 $153 $5,745,564
User 70 1,787,079 $0.2 $138 $3,529,354
REIT/Public 56 1,304,221 $0.2 $185 $4,308,995
Private Equity 13 281,235 $0.1 $219 $4,743,229
$0 $0.6 $1.2 $1.8 $2.4
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 139 Demographics Deanza Country Plaza 7710-7790 Limonite Ave 209,869 SF Community Center Riverside, CA 92509 - Riverside Submarket
PREPARED BY
Debi Myers Owner Income & Spending Demographics Deanza Country Plaza
1 Mile 3 Miles 5 Miles 20 Min. Drive
2019 Households by HH Income 3,695 28,076 86,217 76,614 <$25,000 388 10.50% 5,607 19.97% 17,092 19.82% 15,366 20.06% $25,000 - $50,000 677 18.32% 6,172 21.98% 19,378 22.48% 16,984 22.17% $50,000 - $75,000 757 20.49% 5,741 20.45% 17,340 20.11% 14,866 19.40% $75,000 - $100,000 684 18.51% 4,460 15.89% 13,495 15.65% 11,430 14.92% $100,000 - $125,000 454 12.29% 2,520 8.98% 8,457 9.81% 7,741 10.10% $125,000 - $150,000 221 5.98% 1,363 4.85% 3,902 4.53% 4,074 5.32% $150,000 - $200,000 257 6.96% 1,413 5.03% 4,347 5.04% 3,702 4.83% $200,000+ 257 6.96% 800 2.85% 2,206 2.56% 2,450 3.20% 2019 Avg Household Income $93,006 $72,343 $71,569 $73,259
2019 Med Household Income $75,932 $60,175 $59,523 $60,034
1 Mile 3 Miles 5 Miles 20 Min. Drive
Total Specified Consumer Spending $113.9M $796.6M $2.4B $2.1B
Total Apparel $7.0M 6.16% $52.9M 6.64% $155.3M 6.59% $136.6M 6.63% Women's Apparel $2.7M 2.40% $19.5M 2.45% $57.6M 2.44% $50.4M 2.45% Men's Apparel $1.5M 1.32% $10.9M 1.37% $32.1M 1.36% $28.0M 1.36% Girl's Apparel $566.5K 0.50% $4.8M 0.60% $13.7M 0.58% $12.3M 0.60% Boy's Apparel $390.4K 0.34% $3.3M 0.41% $9.5M 0.40% $8.4M 0.41% Infant Apparel $323.4K 0.28% $2.6M 0.33% $7.8M 0.33% $7.0M 0.34% Footwear $1.5M 1.31% $11.8M 1.49% $34.5M 1.46% $30.4M 1.48%
Total Entertainment & Hobbies $9.2M 8.06% $62.0M 7.78% $183.8M 7.79% $281.4M 13.65% Entertainment $2.4M 2.14% $17.7M 2.23% $50.2M 2.13% $43.9M 2.13% Audio & Visual Equipment/Service $3.7M 3.23% $25.0M 3.14% $76.1M 3.23% $67.0M 3.25% Reading Materials $411.0K 0.36% $2.4M 0.30% $7.6M 0.32% $6.4M 0.31% Pets, Toys, & Hobbies $2.7M 2.33% $16.8M 2.11% $50.0M 2.12% $43.2M 2.10% Personal Items $7.0M 6.14% $45.6M 5.72% $138.2M 5.86% $120.8M 5.86%
Total Food and Alcohol $31.5M 27.67% $229.7M 28.83% $684.3M 29.02% $599.8M 29.10% Food At Home $17.9M 15.70% $135.9M 17.06% $401.3M 17.02% $351.2M 17.04% Food Away From Home $11.8M 10.34% $81.0M 10.17% $244.2M 10.36% $214.4M 10.40% Alcoholic Beverages $1.9M 1.64% $12.8M 1.60% $38.8M 1.65% $34.2M 1.66%
Total Household $16.1M 14.15% $100.7M 12.64% $300.9M 12.76% $260.4M 12.63% House Maintenance & Repair $3.2M 2.79% $19.1M 2.40% $53.9M 2.28% $44.9M 2.18% Household Equip & Furnishings $6.5M 5.72% $41.8M 5.24% $126.0M 5.34% $109.4M 5.31% Household Operations $4.9M 4.30% $31.2M 3.92% $94.6M 4.01% $83.0M 4.03% Housing Costs $1.5M 1.34% $8.5M 1.07% $26.4M 1.12% $23.1M 1.12%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 141 Income & Spending Demographics Deanza Country Plaza
1 Mile 3 Miles 5 Miles 20 Min. Drive
Total Transportation/Maint. $30.1M 26.46% $220.5M 27.68% $640.3M 27.16% $561.9M 27.26% Vehicle Purchases $13.3M 11.72% $101.6M 12.76% $286.5M 12.15% $251.0M 12.18% Gasoline $10.0M 8.74% $74.4M 9.34% $219.0M 9.29% $191.8M 9.31% Vehicle Expenses $813.2K 0.71% $3.9M 0.49% $12.0M 0.51% $10.8M 0.52% Transportation $2.4M 2.09% $14.5M 1.82% $45.0M 1.91% $39.7M 1.93% Automotive Repair & Maintenance $3.6M 3.20% $26.1M 3.27% $77.8M 3.30% $68.5M 3.33%
Total Health Care $5.6M 4.96% $38.3M 4.81% $114.2M 4.84% $98.5M 4.78% Medical Services $3.3M 2.94% $22.8M 2.86% $67.8M 2.88% $59.0M 2.86% Prescription Drugs $1.8M 1.55% $11.9M 1.49% $35.5M 1.50% $30.1M 1.46% Medical Supplies $538.6K 0.47% $3.6M 0.45% $10.9M 0.46% $9.4M 0.46%
Total Education/Day Care $7.3M 6.39% $47.0M 5.90% $141.0M 5.98% $122.7M 5.95% Education $4.6M 4.08% $31.0M 3.89% $92.5M 3.92% $80.5M 3.91% Fees & Admissions $2.6M 2.31% $16.1M 2.02% $48.5M 2.06% $42.2M 2.05%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 142 Appendix Deanza Country Plaza 7710-7790 Limonite Ave 209,869 SF Community Center Riverside, CA 92509 - Riverside Submarket
PREPARED BY
Debi Myers Owner Historical Leasing Data Deanza Country Plaza
PEERS HISTORICAL LEASING DATA
Available Space NNN Rent Per Square Foot Demand
Quarter SF Availability Vacancy Market Rent Rent Growth Net Absorption SF Leasing SF
QTD 309,556 8.8% 10.6% $25.82 0.1% (35,613) 48,247
2019 Q3 329,523 9.3% 9.6% $25.79 0.3% (45,535) 0
2019 Q2 243,323 6.9% 8.3% $25.72 -0.2% 3,009 78,905
2019 Q1 305,350 8.7% 8.4% $25.79 -0.2% (18,809) 7,485
2018 Q4 290,307 8.2% 7.9% $25.84 0.9% 4,051 18,078
2018 Q3 299,899 8.5% 8.0% $25.61 0.5% (24,736) 10,789
2018 Q2 312,230 8.9% 7.3% $25.49 1.7% 54,959 10,435
2018 Q1 315,010 8.9% 8.8% $25.06 1.0% (3,975) 15,563
2017 Q4 319,096 9.1% 8.7% $24.82 1.2% (33,840) 26,078
2017 Q3 281,748 8.0% 7.8% $24.52 1.7% (52,289) 32,797
2017 Q2 247,952 7.0% 6.3% $24.11 1.8% 102,716 13,906
2017 Q1 351,691 10.0% 9.2% $23.67 - (12,720) 1,800
RIVERSIDE SUBMARKET HISTORICAL LEASING DATA
Available Space NNN Rent Per Square Foot Demand
Quarter SF Availability Vacancy Market Rent Rent Growth Net Absorption SF Leasing SF
QTD 2,869,636 8.2% 6.2% $23.42 0% 63,344 37,086
2019 Q3 2,789,080 7.9% 6.3% $23.42 -0.8% 38,856 185,783
2019 Q2 2,779,666 7.9% 6.1% $23.61 1.2% 58,560 238,275
2019 Q1 2,784,241 8.0% 5.9% $23.32 1.0% (18,106) 155,399
2018 Q4 2,673,929 7.7% 5.8% $23.07 1.6% 206,911 315,093
2018 Q3 2,801,448 8.1% 6.1% $22.72 0.5% 92,561 218,661
2018 Q2 2,960,286 8.5% 6.3% $22.60 2.2% 183,394 206,003
2018 Q1 2,827,443 8.2% 6.3% $22.12 0.8% (88,076) 179,897
2017 Q4 2,740,380 8.0% 6.0% $21.96 0.8% 215,772 256,508
2017 Q3 2,848,633 8.3% 6.3% $21.79 1.2% 23,314 214,135
2017 Q2 2,514,233 7.3% 6.2% $21.53 1.3% (6,431) 202,400
2017 Q1 2,599,909 7.6% 6.2% $21.26 - (75,491) 235,049
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 144 Historical Leasing Data Deanza Country Plaza
INLAND EMPIRE EAST SUBMARKET CLUSTER HISTORICAL LEASING DATA
Available Space NNN Rent Per Square Foot Demand
Quarter SF Availability Vacancy Market Rent Rent Growth Net Absorption SF Leasing SF
QTD 11,910,766 8.8% 7.1% $21.23 -0.1% 39,594 259,115
2019 Q3 11,797,586 8.7% 7.1% $21.25 -0.4% 404,587 692,027
2019 Q2 12,588,718 9.3% 7.3% $21.33 0.6% 97,110 774,351
2019 Q1 12,603,512 9.3% 7.4% $21.20 0.5% (39,968) 835,438
2018 Q4 12,529,104 9.3% 7.5% $21.09 1.0% 445,469 919,810
2018 Q3 12,701,085 9.4% 7.5% $20.88 0.5% 552,906 803,460
2018 Q2 12,804,560 9.5% 7.7% $20.79 1.5% 584,956 1,095,403
2018 Q1 12,987,530 9.7% 7.9% $20.48 0.8% (107,553) 913,328
2017 Q4 12,822,676 9.6% 7.7% $20.33 0.9% 776,268 1,087,403
2017 Q3 13,415,835 10.0% 8.0% $20.14 1.0% 44,530 1,147,963
2017 Q2 12,765,537 9.6% 7.8% $19.94 1.1% 467,788 928,585
2017 Q1 12,805,308 9.6% 8.0% $19.72 - (341,537) 1,116,018
INLAND EMPIRE METRO HISTORICAL LEASING DATA
Available Space NNN Rent Per Square Foot Demand
Quarter SF Availability Vacancy Market Rent Rent Growth Net Absorption SF Leasing SF
QTD 16,455,413 8.4% 6.8% $21.68 -0.1% 108,165 397,022
2019 Q3 16,442,088 8.3% 6.8% $21.70 -0.5% 671,429 961,810
2019 Q2 17,323,869 8.8% 7.0% $21.82 0.8% 101,673 1,066,476
2019 Q1 17,345,914 8.8% 7.1% $21.64 0.7% (56,759) 1,115,665
2018 Q4 17,161,168 8.7% 7.1% $21.50 1.2% 688,487 1,234,511
2018 Q3 17,697,367 9.0% 7.2% $21.25 0.5% 769,844 1,347,725
2018 Q2 17,912,794 9.1% 7.4% $21.16 1.7% 643,212 1,507,892
2018 Q1 18,069,935 9.2% 7.6% $20.81 0.7% (144,502) 1,340,299
2017 Q4 17,968,829 9.2% 7.4% $20.66 0.9% 929,539 1,518,362
2017 Q3 18,737,783 9.6% 7.6% $20.48 1.1% (35,307) 1,589,339
2017 Q2 17,825,813 9.2% 7.4% $20.25 1.1% 632,548 1,289,035
2017 Q1 18,094,618 9.3% 7.5% $20.03 - (128,103) 1,502,643
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 145 Historical Construction Data Deanza Country Plaza
15 MILE RADIUS HISTORICAL CONSTRUCTION DATA
Inventory Deliveries Under Construction
Quarter Bldgs Bldg SF Vacancy Bldgs Bldg SF Leased Bldgs Bldg SF Preleased QTD 7,712 89,503,919 6.6% 7 74,675 78.9% 24 227,714 50.6%
2019 Q3 7,707 89,433,423 6.7% 12 203,590 64.2% 29 286,189 62.6%
2019 Q2 7,695 89,229,833 6.6% 13 142,993 70.1% 33 433,280 80.4%
2019 Q1 7,683 89,103,155 6.5% 8 55,652 82.6% 42 546,473 87.9%
2018 Q4 7,678 89,083,814 6.7% 26 394,892 73.3% 35 398,566 90.6%
2018 Q3 7,653 88,690,303 6.7% 26 295,035 86.2% 52 731,434 81.0%
2018 Q2 7,627 88,395,268 6.9% 10 206,372 89.0% 74 992,427 84.5%
2018 Q1 7,621 88,215,269 6.9% 19 232,840 91.5% 72 1,087,072 84.9%
2017 Q4 7,607 88,071,152 7.0% 18 258,190 82.0% 61 885,881 85.3%
2017 Q3 7,592 87,824,547 7.2% 12 85,479 78.2% 66 969,929 78.2%
2017 Q2 7,580 87,739,068 6.7% 10 343,513 86.2% 64 861,015 81.9%
2017 Q1 7,571 87,420,735 6.8% 5 49,193 96.5% 38 651,820 90.8%
RIVERSIDE SUBMARKET HISTORICAL CONSTRUCTION DATA
Inventory Deliveries Under Construction
Quarter Bldgs Bldg SF Vacancy Bldgs Bldg SF Leased Bldgs Bldg SF Preleased QTD 2,951 34,092,757 6.3% 1 19,500 67.3% 14 358,807 71.4%
2019 Q3 2,950 34,073,257 6.4% 4 124,013 55.1% 14 368,107 72.8%
2019 Q2 2,946 33,949,244 6.2% 6 111,120 26.5% 13 459,566 63.4%
2019 Q1 2,940 33,838,124 6.1% 3 25,746 0.0% 15 423,392 52.8%
2018 Q4 2,937 33,812,378 5.9% 13 110,630 77.1% 14 250,455 65.9%
2018 Q3 2,924 33,701,748 6.2% 4 35,005 88.2% 24 321,778 66.9%
2018 Q2 2,919 33,664,243 6.4% 6 182,962 90.3% 27 344,541 69.3%
2018 Q1 2,913 33,481,281 6.5% 2 17,903 76.6% 21 369,031 97.7%
2017 Q4 2,911 33,463,378 6.1% 8 112,251 87.4% 12 122,907 85.3%
2017 Q3 2,903 33,351,127 6.5% 9 62,873 94.6% 14 203,626 81.8%
2017 Q2 2,894 33,288,254 6.4% 4 24,999 96.8% 20 209,297 88.6%
2017 Q1 2,891 33,264,855 6.3% 2 15,170 92.1% 20 204,170 94.5%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 146 Historical Construction Data Deanza Country Plaza
INLAND EMPIRE EAST SUBMARKET CLUSTER HISTORICAL CONSTRUCTION DATA
Inventory Deliveries Under Construction
Quarter Bldgs Bldg SF Vacancy Bldgs Bldg SF Leased Bldgs Bldg SF Preleased QTD 11,855 133,982,043 7.2% 7 73,241 78.5% 38 936,601 38.6%
2019 Q3 11,850 133,912,981 7.2% 10 179,391 58.8% 40 935,580 41.8%
2019 Q2 11,840 133,733,590 7.3% 26 286,179 55.8% 42 1,072,817 42.0%
2019 Q1 11,819 133,833,539 7.5% 23 274,429 94.5% 63 1,205,702 47.4%
2018 Q4 11,797 133,564,639 7.5% 31 440,972 75.1% 58 1,109,968 87.1%
2018 Q3 11,767 133,124,663 7.5% 19 261,589 93.0% 80 1,465,333 85.0%
2018 Q2 11,748 132,861,041 7.8% 24 402,672 78.9% 93 1,667,840 87.1%
2018 Q1 11,728 132,486,769 7.9% 12 120,568 89.6% 83 1,314,840 89.3%
2017 Q4 11,722 132,387,584 7.8% 26 440,589 85.5% 67 919,454 87.1%
2017 Q3 11,700 131,964,637 8.1% 27 286,463 89.5% 72 1,200,978 82.0%
2017 Q2 11,674 131,737,078 7.9% 16 378,578 93.7% 85 1,272,912 83.7%
2017 Q1 11,660 131,385,280 8.0% 14 252,185 99.0% 61 1,061,251 96.4%
INLAND EMPIRE METRO HISTORICAL CONSTRUCTION DATA
Inventory Deliveries Under Construction
Quarter Bldgs Bldg SF Vacancy Bldgs Bldg SF Leased Bldgs Bldg SF Preleased QTD 17,071 195,797,287 6.8% 11 92,991 83.1% 55 1,218,699 43.9%
2019 Q3 17,062 195,708,475 6.8% 17 259,901 68.8% 61 1,237,428 47.6%
2019 Q2 17,045 195,448,574 7.0% 30 381,099 58.7% 65 1,423,900 50.3%
2019 Q1 17,021 195,459,785 7.1% 28 294,349 93.7% 83 1,601,980 56.0%
2018 Q4 16,996 195,175,804 7.1% 34 495,507 77.8% 76 1,424,644 85.0%
2018 Q3 16,964 194,682,674 7.2% 36 414,061 88.1% 96 1,801,731 86.9%
2018 Q2 16,928 194,266,580 7.4% 28 430,432 77.2% 122 2,024,220 85.2%
2018 Q1 16,906 194,012,841 7.6% 28 345,388 74.4% 116 1,698,980 88.6%
2017 Q4 16,887 193,772,225 7.4% 34 537,937 86.3% 98 1,356,137 87.7%
2017 Q3 16,859 193,261,448 7.6% 37 382,577 89.1% 105 1,596,479 83.7%
2017 Q2 16,823 192,937,775 7.4% 22 468,908 85.4% 119 1,669,613 86.1%
2017 Q1 16,805 192,504,718 7.6% 17 270,116 98.7% 87 1,361,849 92.9%
11/15/2019 Copyrighted report licensed to Integrity Commercial Real Estate - 1028591. Page 147