707 N Barranca Ave 301 E Front St
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RARE ±8.34 ACRE BARRANCA AVE METRO ADJACENT DEVELOPMENT E CYPRESS ST OPPORTUNITY N CITRUS AVE E FRONT ST Metro Station Metro Parking E SAN BERNARDINO RD Structure Within Walking Distance to Downtown Covina 707 N BARRANCA AVE & 301 E FRONT ST | Covina, California 91723 707 N BARRANCA AVE 301 E FRONT ST Covina, California 91723 01 02 03 04 PROPERTY POTENTIAL AREA MARKET SUMMARY CONVERSIONS OVERVIEW OVERVIEW 707 N BARRANCA AVE 301 E FRONT ST Covina, California 91723 01 PROPERTY SUMMARY TRANSIT ORIENTED DEVELOPMENT (TOD) EXCEPTIONAL SAN GABRIEL VALLEY DEVELOPMENT AND/OR OWNER-USER OPPORTUNITY THE HOTTEST MARKET THE OFFERING CBRE, Inc. is pleased to present for sale a rare, transit-oriented development opportunity totaling approximately 8.34 acres of land located adjacent to the Covina Metro TODAY station, one of the busiest Metro stops in all of Los Angeles. Two of these parcels are zoned light industrial and the other two parcels are located in the Town Center Specific Plan (TCSP), which allows for residential/mixed use development. MINUTES TO ALL OF ASKING PRICE: $21,000,000 DOWNTOWN LA Metro E CYPRESS ST Station NOT A PART E FRONT ST E SAN BERNARDINO RD BARRANCA AVE Offering Memorandum | 7 E COVINA BLVD 8430-015-018 PROPERTY OVERVIEW BARRANCA AVE E EDNA PL 8430-018-013 APN 8430-015-018 8430-018-009 8430-018-021 8430-018-017 8430-018-013 TOTAL LAND SIZE* ±258,026 SQ. FT. ±58,782 SQ. FT. TBD** ±1,562 SQ. FT. ±44,895 SQ. FT. ±363,265 SQ. FT. (±8.34 AC) B YEAR BUILT 1947 1988/1989 TBD** 1920 1964 C E CYPRESS ST A D ZONING CVM1YY CVM1 TBD** CVM1 CVM1YY E *Per Assessor’s Office E FRONT ST ** Call broker for details F 8430-018-009 G BUILDING MEASURMENTS BUILDING A BUILDING D BUILDING G E SAN BERNARDINO RD Door #1 36’x60’ = 2,160 Old Cooler (Out Of Service) Packing House Office ±1,460 Sq. Ft. Door #2 & #3 110’x60’ = 6,600 Dock 19’x51’ = 969 Packing House Warehouse ±2,760 Sq. Ft. H North Freezer ±8,760 Sq. Ft. Front 107’x51’ = 5,457 ±4,200 Sq. Ft. Back 124’x42’ = 5,208 BUILDING B ±11,634 Sq. Ft. BUILDING H Building #4 (Out Of Service) Dry 100’x60’= 6,000 Warehouse ±9,826 Sq. Ft. BUILDING E Chilled 31’x60’ = 1,860 Spec. Line Fill Room ±1,801 Sq. Ft. Main Office ±4,258 Sq. Ft. Frozen FZ 169’x60’ = Sq. Ft. Truck Maintenance ±1,128 Sq. Ft. West Warehouse ±18,000 Sq. Ft. 8430-018-021 ±12,755 Sq. Ft. BUILDING F Old Acct. Warehouse 192’x60’ = 11,520 BUILDING C Sq. Ft. TOTAL FACILITY ±79,600 Sq. Ft. METRO Storage Room ±1,849 Sq. Ft. Old Acct. Office (Down) ±2,178 Sq. Ft. Fill Room ±2,800 Sq. Ft. Old Acct. Office (Up) ±2,434 Sq. Ft. STATION Extractor Room ±1,750 Sq. Ft. ±16,132 Sq. Ft. AND PARKING Warehouse ±900 Sq. Ft. 8430-018-017 Maintenance Building ±800 Sq. Ft. ±8,099 Sq. Ft. N CITRUS AVE METRO PARKING Offering Memorandum | 9 STRUCTURE A PARCEL MAPS N 1st Ave E Edna Pl N Curtis Ave E Edna Pl N Barranca Ave BUILDING A E Front St E Front St 707 N BARRANCA AVE 301 E FRONT ST 707 N BARRANCA AVE APN 8430-018-017 APN 8430-018-021 APN 8430-018-009 8430-018-013 APN 8430-015-018 10 | Offering Memorandum Offering Memorandum | 11 B B C C D D BUILDING B,C & D BUILDING B,C & D 12 | Offering Memorandum Offering Memorandum | 13 E H Metro Station Parking BUILDING E BACK PARCEL ADJACENT TO THE METRO STATION 14 | Offering Memorandum Offering Memorandum | 15 F F G G H H BUILDING F, G & H BUILDING F, G & H 16 | Offering Memorandum Offering Memorandum | 17 MAP © 2015 CARTIFACT · DATA © OSM CARTIFACT® LOCATOR MAP METRO MAP Offering Memorandum | 18 Offering Memorandum | 19 ZONING TRANSIT-ORIENTED DEVELOPMENT (TOD) OPPORTUNITY APN 8430-015-018: 707 N Barranca & APN 8430-018-013: 301 E APN 8430-018-009: 707 N Barranca & APN 8430-018-017 Front • Town Center specific plan for mixed use (TCSP) Subject:APNs 8430-018-009 & 8430-018-017 • Light industrial (M1YY) • General plan designation- general industrial • General plan designation: general industrial • Residential & mixed use is allowed. Still need to get a general plan amend- • Online code for M1 zoning: http://www.codepublish- ment on this parcel if you want to build residential since the general plan ing.com/CA/Covina/#!/Covina17/Covina1754.html#17.54 designation is general industrial. Manufacturing or commercial retail (specific uses, ex: restaurant) • Online code for TCSP: http://www.covinaca.gov/images/webuser/Com- allowed. Some other retail uses would need a CUP. See online mDev/TownCenterSpecificPlanFinal.pdf code for details. Mixed-Use Focused Activity Area (TCSP-4): The Mixed-Use Focused Activity Area does not assume any particular predominant land use, and rather provides the opportunity to develop and redevelop property within key development op- portunity areas with a finely-grained mixing of land uses. This land use designation is intended to for retail, light industrial, cultural and entertainment, and residential development, with an emphasis of mixing of uses on properties, within buildings, and within blocks, as compatibility allows, though single-use development projects would also be allowed, subject to City review and approval. This Focused Activity Area is located in areas of the Specific Plan Area where land use change would be anticipated in the future. To the extent that future development proposals comply with applicable policies set forth in this Specific Plan, the General Plan, and other applicable City policies and regulations, development projects that contribute to the revitalization of the Town Center Specific Plan are encouraged. This Focused Activity Area provides the opportunity to mix residential uses (which might occur on upper floors of a multi-story building) with retail, office, or other appropriate uses, which could occur at the ground level or second level. This area also provides the opportunity to mix commercial land uses of different types. Land uses that directly generate noise in excess of City standards are not permitted in this Fo- cused Activity Area. The allowable density for properties adjacent to any existing singlefamily residential dwelling unit is 1.5 FAR, while the density for the rest of this area is between 2.0 and 2.5 FAR. The residential density range in this area is generally 15 to 35 units per acre. Mixed use projects density limits are calculated based on FAR including all uses’ floor area. Source: City of Covina Planning Department and Planning Website 20 | Offering Memorandum Offering Memorandum | 21 METROLINK- COVINA STATION LA Union StationCal State L.A. El MOnte Boldwin Park Covina StationPomona (North)Claremont Montclair Upland Rancho CucamongaFontana Rialto San Bernardino 41 minutes 26 minutes 15 minutes 6 minutes 10 minutes 14 minutes 17 minutes 22 minutes 29 minutes 38 minutes 44 minutes 57 minutes COVINA METRO LINK LOS ANGELES SAN BERNARDINO COUNTY COUNTY You are Here You Transfer Metrolink Lines: Transfer Metrolink Lines: ANTALOPE VALLEY LINE INLAND EMPIRE - ORANGE VENTURA COUNTY LINE COUNTY LINE ORANGE COUNTY LINE 91 LINE RIVERSIDE LINE Transfer to Metro Light Rail: RED, PURPLE, AND GOLD LINES METROLINK ROUTES San Bernardino Line Metrolink/Amtrak Shared Station LAX FlyAway Bus 22 | Offering Memorandum Offering Memorandum | 23 Claremont Approximate travel time from this station. 14 minutes Service may vary during the day or days of the week. Please check full 707 N BARRANCA AVE 301 E FRONT ST Covina, California 91723 02 POTENTIAL CONVERSIONS POTENTIAL CONVERSION POTENTIAL MULTIFAMILY RETAIL DEVELOPMENT OPPORTUNITY • Potential long-term ground lease, build-to-suit, or owner/user • Minutes to all of Downtown LA opportunity • Traffic Count Directly In Front of 707 N Barranca: 22,269 • A short walk to Downtown Covina (2012 Estimate) • Convenient access to schools, retail amenities and freeways Average Household Income (2015): 1 Mile $74,948 • Excellent suburban neighborhood 2 Mile $77,383 3 Mile $78,727 Population (2015): 1 Mile 26,171 2 Mile 96,712 3 Mile 192,851 Offering Memorandum | 26 Offering Memorandum | 27 8.34 ACRES OF LAND PRIME OWNER USER OPPORTUNITY 10,330 SF OF OFFICE IDEAL DISTRIBUTION CENTER FOR LARGE, GLOBAL COMPANY POTENTIAL BUILD-TO-SUIT STRONG POTENTIAL EXCELLENT LOCATION FOR 7 DOCK HIGH FOR OWNER/USER INDUSTRIAL CONDOMINIUMS POSITIONS AND/OR VALUE-ADD INVESTOR 18,900 SF OF FREEZER 79,600 SF AVAILABLE Offering Memorandum | 28 Offering Memorandum | 29 LARGE SECURE YARD PRIME OWNER USER OPPORTUNITY INFILL LOCATION – SAN GABRIEL VALLEY M1 INDUSTRIAL ZONING 920 WASTE WATER GREAT ACCESS FROM 10, 210 CONNECTION UNITS AND 57 FREEWAY HEAVY POWER Offering Memorandum | 30 Offering Memorandum | 31 707 N BARRANCA AVE 301 E FRONT ST Covina, California 91723 03 AREA OVERVIEW SAN GABRIEL VALLEY OVERVIEW ”At one time predominately agricultural, the San Gabriel valley today is almost entirely urbanized and is an integral part of the Great Los CITY OF COVINA SERVING THE COMMUNITY THROUGH PRESERVATION AND PROGRESS Angeles metropolitan area. It is one of the most ethnically diverse regions in the country.” Source: San Gabriel Valley Economic Partnership The San Gabriel Valley is named for the river that flows southward through its center, which itself was named for the Spanish mission San Gabriel Archangel. Covering 385 square miles, the San Gabriel Valley is defined by its namesake mountains to the north, the cities of Pasadena, South Pasadena Covina is located in the San Gabriel Valley region of Los Angeles County. The city of Covina was founded in 1882 and by 1909, the city was the third and Monterey Park to the west, the crest of the foothills that parallel the Pomona (SR-60) freeway to the south, and the Los Angeles/San Bernardino county largest orange producer in the world and it still claimed to have the “best oranges in the world” as late as the 1950s.