SQUAW MOUNTAIN ROAD CORONA, CA 92883

Joe StanceCOMMERCIAL REAL ESTATE BROKER

JOE@STANCEREALESTATE.COM(909) 772-1212

CAL BRE# 01788741

www.StanceRealEstate/SquawMT

LAND FOR SALE

>> 01 The Site - 3>> 02 The Area - 5>> 03 The Numbers - 13

DISCLAIMER: Stance Real Estate obtained

the following information above from sources

we believe to be reliable. However, Stance

Real Estate have not verified its accuracy and

make no guarantee, warranty or

representation about it. It is submitted

subject to the possibility of

errors, omissions, change of price, rental or

other conditions, prior sale, lease or financing,

or withdrawal without notice. Stance Real

Estate include projections, opinions,

assumptions or estimates for example only,

and they may not represent the

current or future performance of the

property. You and your tax and legal advisors

should conduct your own investigation of the

property and transaction.

CalBRE # 01788741

02

Property Type: Commercial Development OpportunitySize: 28.06 Acres Parcel Number: 290-050-030Zoning: Scenic Highway Commercial (C-P-S)Topography: Flat/Slight SlopeCounty: Riverside CountySub Market: South Corona Temescal Valley

Property Type: Commercial Development Opportunity

Sub Market:South Corona Temescal Valley

Parcel Number:290-050-030

Size: 28.06 Acres

03

Zoning:Scenic Highway Commercial (C-P-S)Topography:

Flat/Slight Slope

The Site>> 01

PROPERTY SUMMARY+/- 1,600 linear footage along Interstate 15 Freeway 

Nine Miles South of the 91/15 Freeway Interchange 

Household income Over $100K

Traffic Count - I-15 +/- 160k per day

Numerous Uses Are Permitted 

Immediate Freeway Access Via Temescal Canyon Road on/off ramp

04

+/- 1,600 linear footagealong Interstate 15 Freeway 

Immediate Freeway Access Via TemescalCanyon Road on/off ramp

Nine Miles South of the91/15 Freeway Interchange

Household incomeOver $100K

Traffic CountI-15 +/- 160k per day

Numerous Uses Are Permitted

The Area>> 02

Corona Retail Aerial Map 05

Retail

Current Quarter

Malls

Neighborhood Center

Strip Center

General Retail

Submarket

RBA

493,702

4,005,290

449,045

1,609,959

6,557,996

Annual Trends

Vacancy Change (YOY)

Net Absorption SF

Deliveries SF

Rent Growth

Sales Volume

12 Monts

1.3%

28.9 K

121 K

3.7 %

$ 144 M

Availability Rate

3.8%

7.1%

10.1%

8.2%

7.3%

Peak

7.6%

116,188

120,817

6.0%

$143,7 M

Deliveries SF

0

0

0

0

0

Trough

1.9%

(168,804)

0

-11.2%

$2.0M

Net AbsorptionSF

0

(16,355)

(1,828)

(1,600)

(19,783)

When

2014 Q2

2017 Q1

2018 Q1

2017 Q4

2018 Q1

UnderConstruction

0

14,561

2,790

0

17,351

When

2006 Q1

2009 Q2

2015 Q4

2009 Q4

2010 Q4

Vacancy Rate

2.1%

5.7%

8.7%

7.5%

6.1%

HistoricalAverage

5.7%

(5,587)

15,030

-0.9%

$29.5M

Asking Rent

$2.08

$1.83

$1.77

$1.78

$1.83

ForecastAverage

6.8%

38,743

68,438

1.3%

N/A

CORONA RETAIL AT A GLANCE12 Mo Deliveries in SF

121 K12 Mo Net Absorption in SF

28.9 KVacancy Rate

6.1 %

12 Mo Rent Growth

3.7 %

The City of Corona is located approximately 45 miles southeast of Los Angeles in western Riverside County.

The City limits encompass 39.2 square miles and the population is over 160,000. A city whose heritage spans

more than a century, Corona has emerged as an ethnically diverse community, where a significant

percentage of the population is made up of young, well educated families.

The Corona community boasts many amenities that provide a first-rate quality of life for residents. The

City has more than 394 acres of parks, with sports fields, basketball courts, playgrounds, tennis

courts, two skateparks and an outdoor pool. Corona's industrial base has played an important role

in the growth of the City and its employee base. Corona's economy is strong and getting stronger!

There are more than 42,000 jobs within the city of Corona and there is a workforce of more

than 84,000. Our retail and commercial areas are expanding and office development is

booming. Corona has more than 34 million square feet of industrial space and more than 3

million square feet of office space existing, under construction, or planned. Economic

Development is the business advocate always looking for ways to help the business

community with incentives, communication, and team building.

06

Retail 07- 5 MILES

- 4 MILES

- 3 MILES

SQUAW MT. SITE

South Riverside Retail

SOUTH RIVERSIDE RETAIL AT A GLANCE

Current Quarter

Malls

Power Center

Neighborhood Center

Strip Center

General Retail

Other

Submarket

RBA

1,715,687

1,881,512

16,139,255

2,462,428

7,948,446

618,811

30,765,139

Annual Trends

Vacancy Change (YOY)

Net Absorption SF

Deliveries SF

Rent Growth

Sales Volume

12 Monts

-0.1%

255 K

228 K

4.2%

$ 316 M

Availability Rate

6.9%

7.1%

8.3%

10.2%

6.6%

31.0%

8.3%

Peak

9.4%

1,962,118

2,036,657

5.2%

$309.7 M

Deliveries SF

0

0

0

0

0

0

0

Trough

15.2%

(136,575)

30,195

-10.6%

$62.8M

Net AbsorptionSF

(18,121)

0

28,373

(617)

(34,069)

0

(24,434)

When

2009 Q3

2007 Q1

2007 Q1

2017 Q4

2018 Q1

UnderConstruction

0

0

147,819

9,300

121,220

0

278,339

When

2007 Q1

2011 Q2

2010 Q4

2009 Q3

2009 Q3

Vacancy Rate

3.7%

4.4%

7.2%

9.3%

3.8%

24.5%

6.1%

HistoricalAverage

7.5%

441,137

499,247

-0.9%

$185.6M

Asking Rent

$3.12

$2.34

$1.90

$1.59

$1.54

$1.47

$1.87

ForecastAverage

7.2%

215,072

317,498

1.5%

N/A

12 Mo Deliveries in SF

228 K12 Mo Net Absorption in SF

255 KVacancy Rate

6.5 %

12 Mo Rent Growth

4.2 %

The South Riverside Submarket is located in the southern Inland empire and bordered by San Diego county to the South

and Orange Country to the west. Inventory is clustered around the 1-15 and 1-215 freeways, primarily in Temecula and

Murrieta, and near Highway 74 in San Jacinto. Vacancies have compressed to 6.5% since peaking at nearly 10% during the

recession. With arround 250,000 SF of retail under construction, most of which is speculative, a supply- driven rise in

vacancies is possible. Rent growth has been solid since 2014, but asking rents have not yet recovered to their

prerecession peak.

Net absorption has been strong since the start of 2016. One major factor driving submarket demand in 2016 was

elevated activity at Hemet Towne Center, where over 160,000 SF was leased. The 124,000 SF vacant former

Walmart building was taken by Burlington Coat Factory and Sprouts Farmers Market. Ulta Beauty also leased

40,000 SF in a newly constructed building in the center. Leasing activity in 2017 was more subdued,

and two of the year’s larger leases were for recently completed projects. Stater Bros. Leased 45,000

SF in the Shoppes At The Lakes center in Menifee, and Tractor Supply Co. Leased 22,000 SF in

Temecula. Other notable leases include sublets by DSW (19,000 SF) and Total Wine (22,000 SF) in

July to fill the former Sport Chalet vacancy.

The largest transaction in the submarket in 2017 was the sale of the Murrieta Town Center in

Murrieta by JADE Enterprises for approximately $56.6 million ($169/SF) in September. The

350,000 SF shopping venter is anchored by Burlington Coat Factory, Ross, Marshalls, and

Rite Aid. The 11-property shopping center, was purchased U.S. Realty Partners Inc. and has

frontage along the Interstate 215 freeway and close proximity to the on/off ramps at

Murrieta Hot Springs Road.

08

Residential Areas

12 Mo Deliveries in SF

228 K12 Mo Net Absorption in SF

255 KVacancy Rate

6.5 %

12 Mo Rent Growth

4.2 %

1,561 ROOFS 12,000 ROOFS

1,700 ROOFS 1,317 ROOFS

400 ROOFS 09

Amenities map

Tom Farms - .5 MileGlen Ivy Hot Springs - 1 MileEagle Glen Golf Course - 6 Miles

10

SQUAW MT. SITE

1 Mile

3 Miles

5 Miles

Demographics

2017 Summary

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

 

2022 Summary

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

5 Miles

35,733

10,973

9,127

3.26

9,329

1,643

36.9

$102,958

$126,275

 

 

38,539

11,764

9,768

3.28

9,953

1,811

37.1

$113,837

$146,027

1 Mile

3,551

1,400

1,071

2.54

1,220

180

47.9

$76,095

$91,416

 

 

3,694

1,455

1,112

2.54

1,264

191

48.0

$79,588

$102,454

3 Miles

17,827

5,709

4,560

3.12

4,848

861

38.3

$101,753

$123,912

 

 

19,630

6,222

4,968

3.15

5,258

964

38.3

$112,850

$143,296 11

12Corona Retail

LA County - 30 MilesDown Town LA - 56 MilesSan Diego County - 25 MilesDown Town San Diego - 87 Miles Orange County - 25 MilesHuntington Beach - 44 MilesSan Francisco - 462 Miles

Purchase Price

Improvements

Interest Reserve

Closing Costs

Total Costs

Development Retail (SF)

Hard and Soft Costs ($/SF)

Total Improvements

Gross Potential Rent

Vacancy

Effective Gross rent

Operating Expenses

Net Operating Income

Stabilized Cap Rate

Stabilized Valuation

Net Unievered Profit

Unlevered Return on Capital

 

$ 3,800,000

(190,000)

$ 3,610,000

$ (361,000)

$ 3,249,000

6%

$54,150,000

$12,950,000

31%

 

$ 14,000,000

$ 26,000,000

$ 600,000

$ 600,000

$ 41,200,000

200,000

$ 130

$ 26,000,000

19

-1

18

-2

16

271

65

Anchor SF

Inline SF

Anchor Rent/SF (NNN)

Inline Rent/SF (NNN)

Total Rent

 

80,000

120,000

$ 10

$ 25

$ 3,800,000

"The Squaw Mountain site is ideal for many development visions. Our assumptions are based on an

Underserved Growing Senior Living Population." Vons and Traders Joes are located approximately 3 miles

north and south of the subject, leaving an under-served market 7.5 miles to closest dialysis clinic, 6 miles to

closest pharmacy, 7 miles to closest US Post office, C-P-S Scenic Highway Commercial Specific wholesale

and retail commercial.

No setbacks required for permitted commercial uses under 35 feet in height.

Any portion of a building which exceeds 35 feet in height shall be set back from the front, rear, and

side lot lines not less than 2 feet, for each foot by which the height exceeds 35 feet.

Max structural height is between 50 - 75 feet.

Recommended Retail Strategic Positioning— Neighborhood Shopping Center.

A grocery anchored center with a tenant that offers both grocery and drugs is recommended.

Acreage should allow for standalone parcels that cater to NNN banking, nutrition center,

and tenants that will pay a premium of the scenic views.

In-line tenancy will focus on experiential retail include:

Optometrist Dentist Office, Pharmacy VA Clinic, Medicare/Medicaid office,

Financial advisory institutions, Dry cleanings, Hardware, Mail and Locksmith.

The Numbers>> 03

13

ESTIMATED COSTS ESTIMATED RENTS

ESTIMATED CASH FLOWS $/SF

ESTIMATED RETURNS $/SF

For over thirty years Joe has made his home in the city of Riverside. During his ten-year career in the commercial real

estate industry, he has leased and sold millions of square feet of property in the Inland Empire. He has guided hundreds of

companies and real estate owners through the leasing, selling and buying process. Throughout his career, he has

maintained a reputation for stellar ethical standards. He also achieved the position of Vice President of one of the world’s

largest brokerages. During his time in mainstream brokerage, he observed that many companies in the industry are

driven to make a commission, instead of being motivated to do what is best for the customer. He determined that by

becoming a broker he would be in a position to implement his ideas and set out to change the industry. Now, as the

founder and owner of Stance Commercial Real Estate, he continues to serve his clients with the highest moral guidance.

Joe Stance | Commercial Real Estate BrokerJoe@stancerealestate.com | (909) 772-1212 | Cal Bre# 01788741

“I have faith that serving others the way I want to be served will bring success, and it has proven to be true.”