CANOVANAS URBAN DEVELOPMENT CORP

CANOVANAS URBAN DEVELOPMENT CORP.
P.O. BOX 9021990
SAN JUAN, P.R. 00902-1990
787-602-8955
[email protected]
COMMERCIAL LOTS FOR SALE
UP TO 60,000 S.F. AVAILABLE FOR CONSTRUCTION
Karla Mas O’Neill
Real Estate Broker Lic. 10476
Mobile. 787-602-8955
[email protected]
www.commerciallots.jimdo.com
EXECUTIVE SUMMARY
Canovanas Urban Development, Corp. have been doing business successfully in P.R.
related to commercial and residential development and construction for more than 20
years.
Our company is dedicated to the planning, design and construction of commercial and
residential properties.
The purpose of this proposal is to give you the opportunity to evaluate and consider a
highly potential commercial lots of lots of 0.97 “ acres” each one in a New Commercial
Park with a total area of 7.40 Acres.
The commercial property subject of this proposal is located at State Road #3, Km. 16.8 in
the fast growing Canovanas Municipality.
The property land available has a Zoning Code Commercial 2 (C-2), consists of 0.97
acres and has all necessary permits (lot division), agency endorsements and studies (soil
test, Hydraulic-Hidrology) for it immediate construction. All of these permits are
available upon request.
MUNICIPALITY IMPORTANT FACTS- ECONOMIC FACTS
Business
Most of Canovanas commerce is driven by retail businesses. There are three main
shopping malls, located along Road PR-3, which is the main roadway between San Juan
and the east coast. These malls are the location of main stores like Wal-Mart, Marshall's,
Burlington, Nike, Gap, and many outlet stores.
Other typical businesses in Canovanas are pharmacies, liquor stores and bars, restaurants,
cafeterias, gasoline stations, auto repair shops, supermarkets and bakeries.
Canovanas is considered the "Door to the East" due to its closeness to Metro San Juan
and its privileged location in the rapidly developing northeast of Puerto Rico. Also the
expansion of route 66 has placed the City of Canovanas on the spot for new industrial,
commercial and high income residential projects.
Industrial
The most growing sector is the industrial zone where large international pharmaceuticals,
manufacturing and service plants like I.P.R. Manufacturing, Avanti Kitchens, Inc.
Accurate Printers, Inc, Ambrosiani Hermanos, Inc. Artec, Inc, Bodegas Españolas
Argentinas, Corp, Digicore, Inc, E.L.M, Inc., Empresas Kikuet, Inc., Girard
Manufacturing, Inc. Ideal Products, , NCS Puerto Rico, Inc, Perfiles de Aluminio, Inc.,
R&R Electric Motors, Corp., Remaches Puerto Rico, Inc., Xamm Corporation, among
other have established their manufacturing plants.
MUNICIPALITY IMPORTANT FACTS- POPULATION
Canovanas has an superficial area of 610 hectares equivalent to 6.10 km² (2.36 sq mi).
The lattitud are 18.3786 and longitude: 65.9065. As for 2000 census the Canovanas
District has an estimate population of 43,335 habitants. As of today, it’s been estimated
that this fast growing population township has a population of 47,796 habitants. We have
seen a 9% to 10% increase rate in this population in the past 10 years. It’s of sum
importance to indicate that there is about 3,500 housing units under construction in this
Municipality. For 2002 Canovanas Township registered a total of $110,296 millions of
retail sale, this amount excluded car and fuel sales. That sale represent a total 28% of the
Municipality Income. For 2010 Canovanas demand was about $ 314.4 millions.
Furthermore, in recent economical study has shown that retail sales in Canóvanas have an
estimated value of $ 143,284 millions for 2010. In conclusion since 2010 exists an offer
of 325,440 square feet of retail stores in this Town.
Since Canovanas boundary limits are Loiza Municipality by North, Juncos and Las
Piedras Municipalities by the South, Carolina in the west boundary and Rio Grande by
the East (Figure 1) it is of sum importance to include a potential percentage of population
of these areas since they are join and communicate directly with commercial and all kind
of economical, tourist and daily operation activities. It is estimate that over PR #3, drive
above 4,000,000 tourist annually. The Average Income of Canovanas Population have
been estimated in $ 23,968 annually.
Figure 1
Also it is important to indicate that among the cities that are within 15 miles of
Canóvanas are: Caguas, Ceiba, Fajardo, Gurabo, Humacao, Juncos, Las Piedras, Loiza,
Luquillo, Naguabo, San Juan, San Lorenzo and Trujillo Alto. Below you will find in
Table A a relation of the population and households obtain from the 2010 Census in
within different radius from Canovanas.
Table A
10-Mile
Radius
15-Mile
Radius
25-Mile
Radius
Population
535,366
1,229,478
2,126,829
Households
162,738
388,129
652,240
34.1
33.5
Average Age
32.7
*Obtained from Census 2010
LOCATION: ACCESS & TRAFFIC ANALYSIS
As mentioned before this commercial land is located in the Km. 16.8 of the of PR Road
#3. Recently, Canovanas, has been recognized because of the great accessibility through
important roads and new highways that make it easy to travel from this Town to any
other area in P.R. Since the construction and delivery of Highway PR Num. 66
Canovanas have been delighted with easy access that make it very attractive for new
commercial investors and families (See figure 2). It’s of sum importance to indicate that
there is about 10 minute travel time from the San Juan International Airport to
Canovanas. You can appreciate both access from PR #66 and SR 3# that deliver direct
access toward Canovanas from San Juan and furthermore serve as the bridge between
Eastern Municipalities.
Figure 2
Property GPS Coordinates: (18°’22’.07’’N, 65°53’45.72’’W)
In terms of the close access and demand the location of the commercial lot proposed
deliver excellent exposure to all travelers, visitors, and going home travelers. As a matter
of fact the location of this site make an affordable travel time to the any town in the East
Region Municipalitys that transit every day through San Juan and Carolina to Canovanas
and Rio Grande including the Municipalies of Luquillo and Fajardo.
The site proposed connects directly with PR #3 throughout a marginal street already built
by the Owner.
As per data received from the Highway and Transportation Authority the Average Daily
Traffic is over 70,000 vehicles per day
ACTIVITY GENERATORS:
As the picture below (Figure 3), the commercial lots are located parallel to the multi story office
building of Universal Insurance Company. This property started construction at the beginning of
this year after completed the process of acquisition with us for a similar lot of 0.97 acres.
Also it is important to mention that lot Number three (3) is currently optioned to a
General Medical Offices. That site has been optioned for about two months and has a
remaining expiration term of 5 months.
Right now, lot number 4, is in negotiations with a very important Cooperative in P.R.
Beside that important fact, there exist a very strong motivated residential developments
in a very close radius of the site.
Figure 3
As the information obtained by the Urban and Developing Office of Canovanas in Table
B, you will appreciate the amounts of units that have been approved since 2002. It is
estimated to be 4,772 new residential units very close to this site.
Table B
NEW RESIDENTIAL UNITS APPROVED SINCE 2002: CLOSE TO THE SITE
PROPOSED
Name of Development
Number of Units (at least 3 bdr/2bath)
Average Housing Unit Cost ($150,000- $350,000)
Las Haciendas
Las Haciendillas
Las Masias
Hacienda Altamira
Campo Rico New Castle
Señorio de Gonzaga
La Alborada
Ciudad Jardin
Ocean Hills
Puerta del Este
River Valley Park
RiverValley
Total
148
173
450
995
1,200
300
300
60
163
650
140
193
4,772
*Source: Urban Planning Office of Canovanas Municipality
Furthermore, there are several residential complex existing and fully developed that will
serve as activity generator to the site proposed; BRISAS DE CANOVANAS, Dev.
BRISAS DE LOIZA, CIUDAD JARDIN DE CANOVANAS, ESTANCIAS DEL RIO,
EXT VILLAS DE LOIZA, HACIENDAS DE CANOVANAS, JARDINES DE
CANOVANAS, JARDINES DE PALMAREJO, PARCELA CENTRAL, PARCELA
MONTEVERDE, PARCELAS SAN ISIDRO, PARCELAS VILLA DELICIAS,
QUINTAS DE CANOVANAS, QUINTAS JARDINES DE PARMAREJO, COUNTRY
VIEW DEV. ,DEL PILAR DEV., FOREST PLANTATION DEV., LAS VEGAS DEV.,
LOIZA VALLEY DEV., LOS EUCALIPTOS DEV., URB PUEBLO INDIO, URB
RIVER GARDEN DEV., RIVER PLANTATION DEV., TOWN PARK DEV., USUBA
DEV., VILLAS DE LOIZA, VILLAS DEL ESTE AND. VILLAS DORADAS.
It is important to notice as shown in Figure 4 the population and households within the 1,
3 and 5 Mile-Radius which in fact deliver a huge economic generator for the site
proposed. As we can see within the most distance zone of 5 mile-radius, this commercial
site will generate public from Loiza, Carolina, Rio Grande and Canovanas. In Table C,
we have included the population and families within the radius mentioned above.
Figure 4
Table C
1-Mile
Radius
3-Mile
Radius
5-Mile
Radius
Population
12,019
72,418
158,286
Households
3,657
22,233
49,053
Average Age
32.7
34.1
33.5
ADDITIONAL INFORMATION
1. PHOTOS
Figure A
Figure B
Figure C


Note: Lot #1-Universal Insurance Company New Administrative Office
Lot #2- Includes a preliminary view and layout of a 3,500 S.F. Free
Standing/Drive-Thru
2. Inscription and Division Lot Approval
3. Traffic Information Obtained from DTOP (2012)
1
2
3
4
5
6
8
9
ROAD KILOMETER CITY/TOWN
PR-3
14.00 Canóvanas
PR-3
14.50 Carolina
PR-3
15.00 Canóvanas
PR-3
15.10 Canóvanas
PR-3
16.15 Canóvanas
PR-3
16.60 Canóvanas
PR-3
18.15 Canóvanas
PR-3
19.00 Canóvanas
4. Canovanas Census 2010
LOCATION
Oeste PR-874
Entre PR-874 y Limite Municipal
Entre PR-874 y PR-9959(Oeste)
Entre PR-9959 y PR-874
Entre PR-9959 y PR-185
Oeste PR-185
Entre PR-9959 Este y PR-188
Entre PR-188 y PR-958
YEAR
2003
2007
2001
2009
2000
2003
2007
2001
ADT
83,925
62,636
82,000
63,953
71,000
76,363
62,306
71,700