exclusive OFFERING memorandum
±10 acres residential land in active path of progress northeast corner jonathan st & hOLLY RD, adelanto, ca Broker Contact 12180 Ridgecrest Road, Suite 232 Jeremy Schmidt CorporateVictorville, CA Office 92395 Executive Vice President PH. 760.983.2383 FAX 760.983.2433 760.983.2593 WWW.KURSCHGROUP.COM [email protected] Corporate BRE: 01896143 BRE #01310579
The information contained in the following marketing document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kursch Group and should not be made available to any other person or entity without the written consent of Kursch Group. This marketing brochure has been prepared to provide summary, unverified information to prospective buyers and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kursch Group has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, or the compliance with State and Federal Regulations. The information contained in this marketing document has been obtained from sources we believe to be reliable; however, Kursch Group has not verified and will not verify, any of the information contained herein, nor has Kursch Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein and have satisfied themselves to anything that may affect the site prior to consummating a transaction. TABLE OF CONTENTS 01 DEVELOPMENT SUMMARY NEC JONATHAN ST & HOLLY RD, ADELANTO, CA SITE SUMMARY PLAT MAP SITE PHOTOS LOCAL MAP DEMOGRAPHICS WATER & SEWER MAP
02 CITY OVERVIEW SCHOOLS SUMMARY CITY OF ADELANTO
03 REGION OVERVIEW SOUTHERN CALIFORNIA LOGISTICS CENTRE INFRASTRUCTURE PROJECTS
04 MARKET ANALYSIS ADELANTO HOME SALES nEW HOME COMMUNITIES MAP NEW HOME COMMUNITIES PRICE GRAPH ACTIVELY SELLING NEW HOME COMMUNITIES
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 3 site SUMMARY
PROPERTY OVERVIEW PARCEL SIZE The subject property provides an opportunity to deliver new ±10 Acres (435,600 Sq. Ft.) homes in an active path of progress, west of Highway 395 where Frontier Communities and DR Horton are currently building. Zoning Current zoning is RM-12; City may allow Single Family LOCATION Residential Development - buyer to verify The subject property is located north of Holly Road and east of Jonathan Street in the City of Adelanto, CA. Exit Interstate 15 at UTILITIES Palmdale Road / West Highway 18 and turn left onto Mariposa Electric Southern California Edison Road. Turn left onto Palmdale Road and head west approximately Gas Southwest Gas Company 4.5 miles to the signal at Highway 395. Turn right on Hwy 395 and Telephone Frontier Communications go north 2 miles to Cactus Rd, turn left. Turn right on Jonathan St. Water/Sewer City of Adelanto The subject site is ahead at the northeast corner of Holly Rd. ASKING PRICE Municipality $499,000 City of Adelanto (within City Limits) County of San Bernardino
Assessors parcel number 3128-241-09
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 4 plat map
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 5 property photo
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 6 property photos
WEST VIEW
Left: Street view East on Holly Rd shows existing residential community with paved roads, street lights and sidewalks. Frontier Communities has 65 active new home sites nearing sell out just two blocks east on Holly Rd and DR Horton just sold out 41 new homes southwest of the site.
NORTHEAST VIEW Left: Street view Northeast from Jonathan St & Holly Rd shows the available 10 acre parcel front- ing pavement. Adelanto Stadium, visible in the distance, is ±0.6 miles northeast of the site on Highway 395.
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 7 LOCAL MAP
The Site is surrounded by established Residential Developments and Proposed Developments for future growth. Public builder, Frontier Communities, has nearly sold out 65 new homes at the corner of Holly Rd & Caliente Dr. They have proposed the next home development project of 119 lots to be immediately Southwest of the subject site. DR Horton has just sold out development of 41 new homes a few blocks south of the subject site.
Southwest of the site is Adelanto High School’s new $120 MM state-of- the-art campus, as well as local elementary and middle schools. Hwy 395 is east of this parcel, providing easy access to Interstate 15, SCLA (Southern California Logistics Airport), and the new Super Walmart anchored Shopping Center at the intersection of Hwy 395 & Palmdale Rd.
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 8 1, 3, 5 Miles radius demographics
Population 2017 2022 1 Mile 2,606 2,631 3 Miles 37,398 39,489 5 Miles 106,551 112,456
Households 2017 2022 1 Mile 660 662 3 Miles 9,052 9,501 5 Miles 26,763 28,093
Median Age 2017 2022 1 Mile 27.0 28.0 3 Miles 27.1 27.9 5 Miles 28.6 29.3
Average HH Income 2017 2022 1 Mile $53,161 $55,271 3 Miles $55,377 $60,277 5 Miles $63,750 $70,475
Source: stdb.com ESRI forecasts for 2017 and 2022
The High Desert Market is located 90 miles northeast of Los Angeles and encompasses the cities of Adelanto, Apple Valley, Barstow, Hesperia, Victorville and surrounding unincorporated areas of San Bernardino County. The regional population exceeds 442,000, nearly doubling from census data of 2000 to 2010. In fact, the city of Victorville was ranked the 6th fastest growing city in the United States for 2006!
Interstate 15 bisects the region and Highway 395, Highway 18, Highway 138, Route 66 and Highway 58 all converge here. BNSF Railway runs throughout most of the high desert cities, hauling massive volumes of imported goods from the Ports of LA and Long Beach to the rest of the country.
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 9 water & SEWER systemS map
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 10 schools SUMMARY victor valley union High school district school name grades enrollment Adelanto High School 9-12 1,748 The property is served by the Victor Valley Cobalt Institute of Math and Science 7-12 864 Union High School District (VVUHSD) Goodwill High School 8-12 206 which covers an area of approximately Imogene Garner Hook Junior High School 7-8 808 536 Square Miles. VVUHSD serves nearly Lakeview Leadership Academy 7-8 796 10,000 middle school and high school Silverado High School 9-12 2,213 students. It is comprised of five (5) high University Preparatory School 7-12 1,115 schools, one (1) continuation high school, Victor Valley High School 9-12 1,892 and two (2) middle schools.
Source: VVUHSD.org and GreatSchools.org
adelanto elementary school district school name Grades enrollment Adelanto Elementary School K-6 469 Columbia Middle School 7-8 391 The property is served by the Adelanto Donald F. Bradach School K-8 763 Elementary School District (AESD) which Eagle Ranch School K-6 765 serves nearly 9,000 elementary school El Mirage School K-8 120 and middle school students. AESD is George Visual & Performing Arts K-8 699 comprised of eleven (11) elementary Magnet School schools and three (3) middle schools. Gus Franklin Jr. STEM School K-7 635 Melva Davis Academy of Excellence 6-8 706 STEAM Middle School Mesa Linda Middle School 7-8 846 Morgan Kincaid Preparatory School of K-6 931 Integrated Studies Theodore Vick School K-8 776 Victoria Magathan Elementary K-6 639 West Creek Elementary K-6 595 Westside Park Elementary K-6 630 Source: AESD.net and GreatSchools.org
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 11 city overview
ADELANTO Progress through unity County: San Bernardino total Area: ±56 sQUARE mILES incorporatED: December 22, 1970 mayor: richard kerr Mayor pro tem: jermaine wright Sr WEBSITE: www.ci.adelanto.ca.us
Year Population Growth Rate 1990 8,517 2000 18,130 112.90% 2010 31,765 75.20% 2016 33971 4.40% 2021 35809 5.30%
average annual growth (1990-2016): 11.49% 2016 POPULATION 33,971 forecasted annual growth (2016-2021): 1.06% 40,000 35809 CLIMATE 35,000 33971 31,765 Adelanto is in the High Desert region of Southern California where humidity is low and sunshine is plentiful. 30,000
25,000 AVG JANUARY LOW TEMP: 32.6 F aVG jULY hIGH tEMP: 97.0 F 20,000 18,130 AVG ANNUAL rAIN FALL: 8.5 in. AVG SUNNY DAYS: 286 15,000 ELEVATION: 2,984 ft. 10,000 8,517 Source: bestplaces.net/climate/city/california/adelanto 5,000
112.90% 75.20% 4.40% 5.30% 0 1990 2000 2010 2016 2021
Population Growth Rate Source: en.wikipedia.org/wiki/Adelanto,_California
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 12 city overview
MEDICAL MARIJUANA CULTIVATION ZONE
The City of Adelanto recently approved a progressive approach to stimulating financial growth in the city: the permitted use of Medical Marijuana Cultivation. The measure allows an overlay use in specified industrial zones, recently increased to about 500 Acres. Improved properties and vacant land in the designated area have been selling for astronomical prices, quickly boosting the city’s economy.
Approximately 4 Million Sq. Ft. of industrial buildings are in construction for this use. The surge in industrial development will create more jobs, of which the City of Adelanto has requested that half of those employees be Adelanto residents. This will ultimately drive more people to relocate to the city, thus increasing demand for new homes.
clark pacific
Immediately south of the MMC zone at the southeast corner of Holly Rd & Beaver Rd, Clark Pacific, a heavy weight in prefabricated architectural and structural precast solutions has begun grading their site of 110 Acres for a new state- of-the-art manufacturing facility, adding an estimated 500 jobs to the area.
Source: en.wikipedia.org/wiki/Adelanto,_California
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 13 region overview
SOUTHERN CALIFORNIA LOGISTICS cENTRE (PICTURED lEFT)
The High Desert is home to Southern California Logistics Centre (SCLC), an 8,500 Acre multi-modal logistics hub. SCLA, the 2,500 Acre logistics airport, provides two intercontinental runways including a 15,050 foot runway, allowing access for even the heaviest aircraft. GE Aviation and Boeing are just a two of the companies that have taken advantage of the low traffic, low humidity airport - ideal for aircraft painting, flight testing, UAS pilot training and more.
2,500 acres are dedicated to industrial/manufacturing development, already home to numerous industry leaders like Dr Pepper Snapple Group, Newell Rubbermaid Brands, Church & Dwight, Plastipak, and Arden Companies.
Source: en.wikipedia.org/wiki/Southern_California_Logistics_Airport and victorvillecity.com/airport/ infrastructure
There are more than $1.8 Billion in infrastructure projects planned for the region to take place within the next 5 years. The High Desert Highway 395 experienced a massive 75% population growth from census years 2000 to 2010, leaving much of the roadways ill-equipped for the Widening influx of vehicle traffic on surface streets and highways. Project
Two new interchanges have been constructed since 2014 on Interstate 15: one at Ranchero Rd in Hesperia, and one at Nisqualli/ La Mesa Rds in Victorville. Additionally, the I-15 interchanges at D St, E St, Stoddard Wells Rd in north Victorville are currently undergoing a full overhaul to widen the freeway, bridges and realign the on/off ramps.
The primary Highway in Adelanto, Highway 395, is scheduled for a widening project estimated at $483 Million. The stretch from Palmdale Rd to Chamberlaine Way will be the first phase completed. (PICTURED RIGHT)
Local city streets have been under construction to repave, widen, and add stop lights in an effort to improve traffic flow.
Source: dot.ca.gov/d8/index.html
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 14 adelanto home Resales
Home ReSales
As of January 1, 2018 in the City of Adelanto there were 42 listing Actively For Resale. 20 properties Sold in December 2017.
The Average Price per Sq. Ft. Sold in December 2017 was $128, up 14.3% in the same month of 2016.
The Average Sold Price in December 2017 was $196,000, up 12% in the same month of 2016.
The Average Active Asking Price in December 2017 was $219,000, up 43.1% in the same month of 2016.
Source: VVAR.com
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 15 active market overview
1 DR Horton WILLOW POINTE sold out 2 FRONTIER communities STONE BRIAR 3 KB HOMES WILDFLOWER 4 KB HOMES FALCON RIDGE 5 LEGACY HOMES SPRINGFIELD 6 WATERMARKE HOMES FOXFIRE RANCH 7 eVERGREEN hOMES SKY HAVEN II 8 del webb SUN CITY 9 EVERGREEN HOMES CEDAR HEIGHTS 10 DR HORTON COMING March 2018 AGAVE POINTE & Juniper
11 Frontier communities Diamond ridge
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 16 NEW HOME COMMUNITIES price graph
Watermarke Homes Foxfire Ranch TBD DR Horton Agave Pointe TBD DR Horton Juniper TBD
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 17 ACTIVE NEW HOME COMMUNITIES DR HORTON willow pointe (SOLD OUT)
CITY: adelanto pRODUCT: single Family
PRICE RANGE: $261,060 - $278,735 hoA: n/A
HOUSE SIZE: 1,898 - 2,239 SF PRICE/SF: $124.49 - $137.54
Source: drhorton.com/California/Victorville
dr horton agave pointe at silverstone (AVAILABLE MARCH 2018)
CITY: adelanto pRODUCT: single Family
PRICE RANGE: TBd hoA: n/A
HOUSE SIZE: 1,740 - 2,277 SF PRICE/SF: TBD
Source: DR Horton - Internet Sales Counselor for So Cal
dr horton JUNIPER at silverstone (AVAILABLE MARCH 2018)
CITY: adelanto pRODUCT: single Family
PRICE RANGE: TBd hoA: n/A
HOUSE SIZE: 2,401 - 2,709 SF PRICE/SF: TBD
Source: DR Horton - Internet Sales Counselor for So Cal
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 18 ACTIVE NEW HOME COMMUNITIES
frontier communities stone briar
CITY: adelanto pRODUCT: single Family
PRICE RANGE: $234,990 - $252,990 hoA: n/A
HOUSE SIZE: 1,639 - 2,002 SF PRICE/SF: $126.37 - $143.37
Source: fhcommunities.com
FRONTIER COMMUNITIES diamond ridge
CITY: adelanto pRODUCT: single Family
PRICE RANGE: $303,910 - $344,590 hoA: n/A
HOUSE SIZE: 2,017 - 2,707 SF PRICE/SF: $127.30 - $150.67
Source: fhcommunities.com
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 19 ACTIVE NEW HOME COMMUNITIES
KB HOMES wILDFLOWER AT LA HACIENDAS
CITY: Victorville PRODUCT: Single Family
PRICE RANGE: $240,990 - $278,990 hoA: n/A
HOUSE SIZE: 1,698 - 2,899 SF PRICE/SF: $96.24 - $141.93
Source: KBhome.com
kb homes falcon ridge
CITY: adelanto pRODUCT: single Family
PRICE RANGE: $268,990 - $306,990 hoA: n/A
HOUSE SIZE: 1,624 - 2,537 SF PRICE/SF: $121.01 - $165.58
Source: KBhome.com
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 20 ACTIVE NEW HOME COMMUNITIES
legacy HOMES springfield
CITY: Victorville PRODUCT: Single Family
PRICE RANGE: $255,990 - $303,990 hoA: n/A
HOUSE SIZE: 1,834 - 2,653 SF PRICE/SF: $114.58 - $139.58
Source: Legacyhomesusa.com
watermarke homes foxfire ranch
CITY: Victorville PRODUCT: Single Family
PRICE RANGE: TBd hoA: n/A
HOUSE SIZE: 1,848 - 2,429 SF PRICE/SF: TBD
Source: watermarke-homes.com
KURSCH GROUP inland empire north 10 Ac nec jonathan st & holly rd - adelanto, ca www.kurschgroup.com 21 ACTIVE NEW HOME COMMUNITIES
evergreen HOMES sky haven II
CITY: Victorville PRODUCT: Single Family
PRICE RANGE: $259,990 - $364,990 hoA: n/A
HOUSE SIZE: 1,601 - 2,579 SF PRICE/SF: $141.52 - $162.39
Source: evergreenhomesca.com
Evergreen Homes cedar heights
CITY: hesperia pRODUCT: single Family
PRICE RANGE: $279,990 - $384,990 hoA: n/A
HOUSE SIZE: 1,727 - 2,909 SF PRICE/SF: $132.34 - 143.37
Source: evergreenhomesca.com
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