±27 ACRES OF UNENTITLED LAND FONTANA, CA

±27 ACRES OF UNENTITLED LAND│FONTANA, CA
DEVELOPMENT OPPORTUNITY
Cherry Ave
SUBJECT PROPERTY
Jurupa Ave
Country Village Rd/Mulberry Ave
EXCLUSIVE OFFERING MEMORANDUM
WD Land
| 94 Discovery | Irvine, CA 92618 | 949.789.4555 | BRE # 01211887
EXECUTIVE SUMMARY
Located in the City of Fontana, the property is located within the Southridge Village Specific Plan area of Fontana,
San Bernardino County. The property is surrounded by established single family neighborhoods and in walking distance to a nearby retail plaza.
CURRENT STATUS AND OPPORTUNITY
Subject property is currently under the control and management of a bankruptcy court trustee. Time is of the essence with regards to a sale of the property and the seller is motivated. The property is raw and unimproved land
and will be sold on an “as-is, where-is” basis and without any representations or warranties by the seller other
than as to seller’s authority to sell. Any accepted offer must be approved by the bankruptcy court and may be
subject to overbid.
This is an opportunity to acquire an undeveloped parcel of land in the Southridge Village Specific Plan. Current
General Plan land use is designated Open Space (OS) and Zoning is “Quarry”. The City is open to reviewing a zone
change, with potential for single family, multi-family, affordable, senior housing, or mini storage. It is our understanding that the SP does not restrict development of this site or call out a dedication that the site is to remain as
permanent open space. The site is adjacent to a City park, neighborhood retail, schools, and police and fire facilities, with single family residential to the north and the south. This is a speculative development opportunity to buy
now “as-is”. With some time and effort there may upside to entitle or hold for future development.
Key benefits/ highlights include:
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Subject property is adjacent to established single family neighborhoods
Access to surface arteries as well as the 60, I-10 and I-15 Freeways
Near parks and shopping centers (Southridge Plaza, anchored by Rite Aid)
Walking distance to local schools
Property is approximately 8 miles east of Ontario Int’l Airport
Fire and police stations across the street
Priced to sell with potential for future development
±27 ACRES │ FONTANA, CA
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TABLE OF CONTENTS
EXECUTIVE SUMMARY
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PROCESS & TIMING
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LOCATION MAPS
REGINONAL MAP …………………………………………………………………………………………………………………………..
LOCAL MAP
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HIGH AERIAL
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LOW AERIAL
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PARCEL MAP
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7
8
9
10
DEVELOPMENT
PROPERTY OVERVIEW
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DEMOGRAPHICS OVERVIEW
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PHOTOS
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DISCLAIMER AND DISCLOSURE ………………………………………………………………………… 14
WD LAND CONTACT INFORMATION
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The information contained herein has been obtained from sources we deem to be reliable. Buyer is cautioned to make an independent investigation of the property and review all information concerning the property as no representations or
guarantees of accuracy and completeness are made, either expressed or implied by WD Land or its affiliates. BRE License No. 01211887.
PROCESS AND TIMING
KEY DATES
Bid Deadline
Feasibility Period
Close of Escrow
May 20, 2015 by 5:00 PM
≤ 30 days from delivery of Purchase and Sale Agreement (“PSA”)
≤ 15 days from the end of Feasibility Period
PURCHASE PRICE
Bids should cover the entire property, asking price is $599,000 and the Buyer should submit their most aggressive
offer. The property is being sold as-is, where is, with no representations by the Seller other than standard
representations as to the Seller’s due authority and similar representations.
Buyer should indicate the proposed length of the Feasibility Period (not to exceed thirty days), subsequent days
needed for the Close of Escrow (not to exceed fifteen days).
DEPOSIT
Concurrent with mutual execution of the PSA, Buyer shall make a $25,000 refundable Deposit into escrow. Buyer
shall have a Feasibility Period in which to investigate all aspects of the Property, including physical condition of the
Property in accordance with the PSA. The Feasibility Period shall begin upon mutual execution of the Letter of
Intent (LOI).
PSA • DEPOSIT
The PSA will be drafted by Seller. Prior to the end of the Feasibility Period, Buyer shall make the Second Deposit
into escrow if required in accordance with the terms of the PSA. Upon the expiration of the Feasibility Period, the
Deposit shall be non-refundable in the event of a failure to close due to Buyer’s default. There will be no financing
or other contingencies in the PSA.
TITLE • ESCROW • EXPENSES
Seller will choose title insurance and escrow service providers. Seller shall pay transfer taxes and Buyer shall pay
for customary title, survey and escrow services. Each party shall otherwise pay the fees and expenses it incurs.
±27 ACRES │ FONTANA, CA
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PROCESS AND TIMING (CONTINUED)
CAPITAL STRUCTURE
Bids should identify the proposed Buyer, its principals and/or material aspects of its corporate organization if
applicable. Buyer’s submission should include information regarding Buyer’s relevant experience and financial
wherewithal, and its intended equity and debt sources for consummating the transaction (including any
contingencies relevant thereto).
CLOSE OF ESCROW
Closing under the PSA shall occur not more than 15 days after bankruptcy court approval of the sale and time shall
be of the essence.
±27 ACRES │ FONTANA, CA
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LOCATION MAPS │ REGIONAL MAP
SUBJECTACRES
Subject- ±27
±27 Acres
Fontana
Ontario
Redlands
Jurupa Valley
Eastvale
Riverside
±27 ACRES │ FONTANA, CA
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LOCATION MAPS │ LOCAL MAP
SUBJECT- ±27 ACRES
±27 ACRES │ FONTANA, CA
6
LOCATION MAPS │ HIGH AERIAL
SUBJECT- ±27 ACRES
±27 ACRES │ FONTANA, CA
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LOCATION MAPS │ LOW AERIAL
Village Dr
Southridge Plaza
SUBJECT- ±27 ACRES
Southridge Park
±27 ACRES │ FONTANA, CA
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LOCATION MAPS │ PARCEL MAP
±27 ACRES │ FONTANA, CA
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PROPERTY │ OVERVIEW
ACREAGE AND APN’S
± 27 Acres
0237-411-14
LOCATION/ACCESS
The subject property is located at the southeast corner of Village Drive and Live Oak Avenue.
A portion of the site is adjacent to a public right-of-way, however, access needs to be further investigated by
Buyer. City owns the land directly west of the property. Access will be determined by grading options and
cooperation of the City.
ENTITLEMENTS
Subject property is located within the Southridge Village Specific Plan. The site is in a raw unimproved condition
and unentitled. Development of the site will require a General Plan amendment and Specific Plan amendment.
IMPROVEMENTS
The site is in a native condition.
Utilities are adjacent to the site. Availability needs to be verified.
JURISDICTION
City of Fontana
County of San Bernardino
DUE DILIGENCE (available upon request)
Preliminary Title Report
Southridge Village Specific Plan & Amendments
±27 ACRES │ FONTANA, CA
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DEVELOPMENT │ DEMOGRAPHICS
Wikipedia, 2015
±27 ACRES │ FONTANA, CA
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DEVELOPMENT │ PHOTOS
Looking northwest from property.
Looking southwest from property.
Looking south at property.
Looking southeast at property.
±27 ACRES │ FONTANA, CA
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Disclosures
DISCLOSURE AND CONSENT FOR REPRESENTATION OF MORE THAN ONE BUYER OR SELLER
C.A.R. Form DA, 11/06
A real estate broker, whether a corporate, partnership or sole proprietorship, (“Broker”) may represent more than one buyer or seller provided the Broker has made a disclosure and the principals have given their consent. This multiple representation can occur through an individual
licensed as a
broker or through different associate licensees acting for the Broker. The associate licensees may be working out of the same or different office locations.
Broker (individually or through its associate licensees) may be working with many prospective buyers at the same time. These prospective buyers may have an interest in, and make offers of, the same properties. Some of these properties may be listed with Broker and some may not.
Broker will not limit or
restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property.
Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Some properties may
attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and some may not. Broker will market all listed properties to all
prospective buyers whether or not Broker has another or other listed properties that may appeal to the
same prospective buyers.
Buyer and Seller understand that Broker may represent more than one buyer or seller and even both buyer and seller on the same transaction.
If Seller is represented by Broker, Seller acknowledges that Broker may represent prospective buyers of Seller’s property and consents to Broker acting as dual agent for both Seller and Buyer in that transaction.
If Buyer is represented by Broker, Buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring and consents to Broker acting as a dual agent for both Buyer and Seller with regard to that property.
In the event of dual agency, Seller and Buyer agree that: (a) Broker, without prior written consent of the Buyer, will not disclose to Seller that the Buyer is willing to pay a price greater than the offer price; (b) Broker, without prior written consent of the Seller, will not disclose to the
Buyer that Seller is willing to sell property at a price less than the listing price; and (c) other than as set forth in (a) and (b) above, a Dual Agent is obligated to disclose known facts
materially affecting the value or desirability of the property to both parties.
NON CONFIDENTIALITY OF OFFERS: Buyer is advised that Seller or Listing Agent may disclose the existence, terms, or conditions of Buyer’s offer unless all parties and their agent have signed a written confidentiality agreement. Whether any such information is actually disclosed
depends on factors, such as current market conditions, the prevailing practice in the real estate community, the Listing Agent’s marketing strategy and the instructions of the Seller.
Seller and/or Buyer acknowledges reading and understanding this Disclosure and Consent for Representation of More than One Buyer or Seller and agree to the dual agency possibility disclosed.
POSSIBLE REPRESENTATION OF MORE THAN ONE BUYER OR SELLER
(C.A.R. FORM PRBS, 11/14)
A real estate broker (Broker), whether a corporation, partnership, or sole proprietorship, may represent more than one buyer or seller. This multiple representation can occur through an individual licensed as a broker or salesperson or through different individual broker’s or salespersons (associate licensees) acting under the Broker’s license. The associate licensees may be working our of the same or different office locations.
Multiple Brokers: Broker (individually or through its associate licensees) may be working with may prospective buyers at the same time. These prospective buyers may have an interest in, and make offers on, the same properties. Some of these properties may be listed with Broker
and some may not. Broker will not limit or restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property.
Multiple Seller: Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Some
properties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and some may not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed properties that may
appeal to the same prospective buyers.
Dual Agency: If Seller is represented by Broker, Seller acknowledges that broker may represent prospective buyers of Seller’s property and consents to Broker acting as a dual agent for both seller and buyer in that transaction. If Buyer is represented by Broker, buyer acknowledges
that Broker may represent sellers or property that Buyer is interested in acquiring and consents to Broker acting as a duel agent for both buyer and seller with regard to that property.
In the event of dual agency, seller and buyer that: (a) Broker, without the prior written consent of the Buyer, will not disclose to the seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written consent of the seller, will not disclose to
the buyer that seller is willing to sell property at a price less that the listing price; and (c) other than as set forth in (a) and (b) above, a dual agent is obligated to disclose known facts materially affecting the value or desirability of the property to both parties.
Offers not necessarily confidential: Buyer is advised that seller or listing agent may disclose the existence, terms, or conditions of buyer’s offer unless all parties and their agent have signed a written confidentiality agreement. Whether any such information is actually disclosed
depends on many factors, such as current market conditions, the prevailing practice in the real estate community, the listing agent’s marketing and strategy and the instructions of the seller.
Buyer and seller understand that Broker may represent more than buyer or more than one seller and even both buyer and seller on the same transaction and consents to such relationship.
This sales information package and contents hereof, is provided for informational purposes only. Nothing contained herein is deemed to constitute an offer of sale or to impose upon Seller, or any of their affiliates, any obligation to negotiate the sale of any parcel or property, and all
offers to purchase this property must be accepted by the Seller in writing. No representation or warranty, expressed or implied, is made regarding the information set forth herein, the factual accuracy or completeness of any such information or other materials contained herein. Seller
reserves the right to make changes from time to time to any of the information contained or referred to herein, to change the price and/or terms and may withdraw the property from the market all without any obligations to notify the recipients of this sales information package.
Qualifications and Disclaimer
Any party which may enter into any written agreement to purchase the subject property shall make its own independent investigation regarding all aspects of the subject property and the development contemplated thereon without complete reliance upon the materials contained
herein. Nothing contained herein is intended in any way to limit or mitigate the need for any independent investigation, which a prudent buyer would be required to undertake in order to determine all facts which could have any effect upon the acquisition or development of the subject
property. Any prospective buyers (“Buyer”) are strongly advised to investigate the condition and suitability of all aspects of the property and all matters affecting the value or desirability of the property, including but not limited to the following items: size, lines, access and boundaries;
zoning and land use; any conditions of approval, cost and fees to develop the site; utilities and services; environmental hazards; geological conditions; natural hazard zone; property damage; neighborhood, area and property conditions; common interest subdivisions and owner associations; and, specialty tax. If Buyer does not exercise these rights, Buyer is acting against the advice of WD Land. Buyer understands that although conditions are often difficult to locate and discover, all real property contains conditions that are not readily apparent and that may affect
the value or desirability of the property. Buyer and Seller are aware that WD Land does not guarantee, and in no way will assume responsibility for, the condition of the property. WD Land has not and will not verify any of items listed above, unless otherwise agreed to in writing.
This sales information package is subject to changes or withdrawals without notice and does not constitute a recommendation, endorsement or advice as to the value of the subject property by WD Land or the Seller.
This sales information package is the absolute property of WD Land and may only be used by parties approved by WD Land. No portion of this sales information package may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of WD Land
and Seller.
±27 ACRES
OF
UNENTITLED LAND │ FONTANA, CA
CONTACT US FOR MORE INFORMATION
STACEY OSSO
Land Advisor
949.789.4555, ext 17
[email protected]
BRE: 01832917
BRIAN KING
Land Advisor
949.789.4555, ext. 22
[email protected]
BRE: 01872521
www.WDLand.com
HEATHER BRADLEY
Marketing Coordinator
949.789.4555, ext. 21
[email protected]
BRE: 01444694