New Clovis Retail Shopping Center SEC Fowler & Herndon Avenues Clovis, California 93611 4th Quarter 2014 Pete Orlando 559.447.6250 [email protected]DRE Lic. 00884946 Mike Arfsten 559.447.6233 [email protected]DRE Lic. 01181635 Location, demographics and site plan information is supplied by sources believed to be reliable. However, we can not guarantee its accuracy and make no warranty or representation as to its veracity. It is presented here with the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or fi- nancing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and these may not represent current or future performance of the property. • Enroute to New Clovis Housing Developments • Located on Heavily Trafficked Herndon Arterial • Close to Highway 168 on/off ramps • Adjacent to High Profile Centers Herndon Ave. Retail Space For Lease
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New Clovis Retail Shopping CenterSEC Fowler & Herndon AvenuesClovis, California 93611
Location, demographics and site plan information is supplied by sources believed to be reliable. However, we can not guarantee its accuracy and make no warranty or representation as to its veracity. It is presented here with the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or fi-nancing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and these may not represent current or future performance of the property.
• Enroute to New Clovis Housing Developments • Located on Heavily Trafficked Herndon Arterial • Close to Highway 168 on/off ramps • Adjacent to High Profile Centers
Herndon Ave. Retail Space For Lease
New Retail SHOPPING CENTER SEC of Fowler & Herndon Clovis, California
Project Summary
General Overview The shopping center being developed on the southeast corner of Fowler and Herndon is a new center to be located within the City of Clovis, one of the fastest growing areas in Fresno County, California.
As of 2005, the City of Clovis had a population of 68,015 people. It has been steadily growing at an average rate of 6% per year for the past 3 years. In 2003, an analysis of new Clovis residents determined that of the 9,086 new residents from 1999-2003, 3.3% moved from within Clovis; 57% moved from outside of Clovis but from somewhere within Fresno County; and 43% moved from outside of the Fresno area (2,100 moved from areas such as the San Francisco Bay area, San Jose/Silicon Valley and northern California; 1,853 move from the Los Angeles/Orange County, southern California areas; 960 moved from other parts of the United States; and 50 moved from outside of the United States). Many of these residents moved to Clovis for a higher quality of life with a lower cost of living, a high quality Unified School district, and an environment conducive to raising a family.
The San Joaquin Valley’s rich and fertile soil is the primary reason it is one of the highest producers of agricultural products in the world. Fresno’s economic area is led by agricultural users and employees of the ag force, however, the construction industry is a close second. As a result, the housing and commercial boom has led to an increase in employment in the area. The City of Clovis is taking a proactive approach to attract the tech sector. A site of approximately 180 acres is under construc-tion immediately east of the Buchanan Crossroads Shopping Center. It is anticipated that the initial tenants of this subdivision will occupy the space within the next two or three years.(Sources: City of Clovis website: www.cityofclovis.com; and Community Planning and Development and Housing “Destination Clovis”, August 2003).
Location
The Shopping Center is situated on the southeast corner of Fowler and Herndon Avenues. This intersection is the key intersection in the City of Clovis as it offers heavy traffic along Herndon Av-enue and an interchange to Freeway 168. Freeway 168 carries approximately 16,000 commuters to and from the mountain communities of north Clovis and Fresno on a daily basis. Herndon Avenue continues to represent the most primary east-west arterial in Fresno. It is the growth corridor for Clovis. The axiom “retail follows rooftops” is very appropriate for Herndon Avenue. Fowler Avenue is the only arterial stretching from the northern most point of Clovis to southern Fresno County.
This new shopping center attracts many consumers from the east end of town It is located on the east-most intersection on Herndon, enroute to one of the fastest growing housing development areas in Clovis. As a result, the center is exposed to great traffic volumes and has an enormous upside with the population growth taking place around it.
New Retail SHOPPING CENTER SEC of Fowler & Herndon Clovis, California
Project Summary (continued)
Subdivision Activity
Housing development in Clovis is very strong and there is no evidence of a slowdown. Low interest rates, quality of construction, and the attraction to Clovis schools has led to an increased demand for housing. Approximately 8,900 homes located immediately north and east of the subject center are in the development, planning, or final approval phases. This growth equates to an additional 26,225 people in the area (a multiplication factor of 2.95 persons per household).
Subdivision land continues to be acquired at an unusually rapid pace. The average price for a new home in Clovis in 2002 was $221,900, and the average price for a used home was $136,000. In 2007, the average new subdivision home is priced at $333,789 and the average used home sells between $206,200 and $321,651 (depending on the size of the house). Currently, greater than 78,000 people are resident within a 3 mile radius of the subject center and approximately 173,000 people are within a five mile radius.
Area Highlights
Approximately two miles northwest of the site is an existing 5,000 student school complex (Buchanan Complex), a 3,000 student high school (Clovis West) and a planned site for a second Community College facility to be located at Shepherd and Willow. Clovis schools are ranked among the highest in the United States with their higher than average test scores and newer schools. Cal State University Fresno (25,000 students) and a new 16,000 square foot multipurpose on-campus arena are located approximately two (2) miles south of the subject site. The largest and most comprehensive medical hospital in the San Joaquin Valley, employing more than 6,200 employees and 1,100 physicians, is only one (1) mile east of the subject shopping center.
Location
Southeast Corner of Fowler and Herndon Avenues, Clovis, CA - enroute to one of the fastest growing areas in the City of Clovis.
Population Trend2000 Total Population 10,462 64,886 147,4992010 Total Population 11,919 87,791 187,0912012 Total Population 12,591 92,670 195,3672017 Total Population 13,357 100,441 208,016
Households Trend2000 Total Households 3,497 22,843 52,9002010 Total Households 4,130 30,672 65,9822012 Total Households 4,242 31,524 66,9442017 Total Households 4,483 33,938 70,855
Population Change Trend2000 to 2010 Population Change 13.9% 35.3% 26.8%2000 to 2012 Population Change 20.3% 42.8% 32.5%2010 to 2017 Population Change 12.1% 14.4% 11.2%2012 to 2017 Population Change 6.1% 8.4% 6.5%
Household Change Trend2000 to 2010 Household Change 18.1% 34.3% 24.7%2000 to 2012 Household Change 21.3% 38.0% 26.5%2010 to 2017 Household Change 8.5% 10.6% 7.4%2012 to 2017 Household Change 5.7% 7.7% 5.8%
2012 RaceWhite alone 75.5% 72.2% 68.2%Black or African American alone 2.2% 2.5% 3.7%American Indian and Alaska Native alone 1.7% 1.3% 1.3%Asian alone 7.5% 10.4% 11.8%Native Hawaiian and OPI alone 0.2% 0.2% 0.2%Some Other Race alone 8.3% 8.5% 9.9%
2012 Income (cont.)Less than $10,000 3.1% 3.3% 4.6%$10,000 to $14,999 2.2% 5.4% 5.2%$15,000 to $19,999 3.0% 3.5% 4.4%$20,000 to $24,999 3.9% 4.3% 4.2%$25,000 to $29,999 5.6% 4.4% 4.3%$30,000 to $34,999 3.1% 3.7% 4.0%$35,000 to $39,999 3.2% 4.9% 4.6%$40,000 to $44,999 3.3% 3.7% 4.4%$45,000 to $49,999 2.7% 4.9% 4.1%$50,000 to $59,999 7.8% 6.3% 6.7%$60,000 to $74,999 13.3% 10.4% 10.3%$75,000 to $99,999 18.9% 14.8% 14.7%$100,000 to $124,999 13.6% 12.6% 11.2%$125,000 to $149,999 9.4% 7.7% 7.3%$150,000 to $199,999 5.0% 6.3% 6.0%$200,000 or more 2.1% 3.9% 4.0%
Average household size 3.0 2.9 2.9
Total Daytime Population 11,392 77,435 185,865Total Daytime at Home Population 6,976 52,319 109,090Total Daytime at Home Population (% of Daytime Population)
61.2% 67.6% 58.7%
Conceptual Site Plan SEC Herndon & Fowler, Clovis, CA 93611
