GOLDEN STATE INDUSTRIAL PARK...metropolitan area. The City of Fresno, which is less than 15 miles to...

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For Additional Information Please Contact:

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Ethan Smith, CCIMSenior Vice President - Industrial [email protected] BRE #01395349

Ron StoltenbergSenior Vice President - Industrial [email protected] BRE #00523898

Nick Audino, SIORSenior Vice President - Industrial [email protected] BRE #01231272

www.ngpearson.comFRESNO OFFICE: 7480 N Palm Ave Suite 101 Fresno CA 93711, T 559.432.6200 VISALIA OFFICE: 3447 S Demaree St Visalia CA 93277, T 559.732.7300 Independently Owned and Operated

Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor

is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.

G O L D E N S TAT E I N D U S T R I A L PA R K1 7 7 5 PA R K S T R E E T | S E L M A , C A L I F O R N I A

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Table of Contents

Signage Plan

Investment Opportunity

Location

Property Overview

Parcel Map

Current Tenants

Building Parcel Specifications

Market

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Signage Plan*

*Signage has been designed and priced.




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Investment Opportunity

Golden State Industrial Park (GSIP) is a 33± acre, multi-building industrial and office project

located along Highway 99 in Selma, California.

Project Highlights:

• GSIP is one of the largest industrial and office parks in the area, consisting of 11 buildings

built from 1978-2002 totaling 346,771± square feet

• GSIP is conveniently located near a full interchange and has approximately 2,000± feet of

Highway 99 frontage

• The office buildings have recently been fully remodeled with over $850,000 in

improvements to building systems, lighting, landscaping, exterior lighting, drainage,

and amenities

• The industrial buildings have functional attributes required by a wide variety of assembly

and manufacturing occupants, including abundant electrical service, natural gas

distribution, ample loading doors, many types of cranes, recently certified roofs, and

ample land for outdoor storage

• 5± acres of undeveloped land allows for new construction to expand existing buildings

or construct new buildings

• Subdivision map (Map#2014-013) entitlement recorded by current owner in 2017

allows for the property to be sold as separate parcels

Golden State Industrial Park offers an owner the opportunity to receive reliable cash flow from

existing tenants while strengthening their cash position by either leasing or selling the vacant

spaces. GSIP is offered well below its estimated replacement cost of more than $21.6 million.

NOI

- Parcel 1

- Parcel 4

- Parcel 7 (Billboard)

Current Gross Revenue

Pricing

$521,472

$487,500 ($65.00 psf)

$4,746,000 ($38.00 psf)

$6,084 yearly

$628,224

Replacement Cost Analysis

- Parcel 3

- Parcel 6 (Billboard)

- Parcel 9

TOTAL

Stabilized NOI

- Parcel 2

- Parcel 5

- Parcel 8

$21,638,000

$3,091,680 ($38.00 psf)

$4,844 yearly

$5,209,160 ($32.44 psf) yearly

$13,940,721 ($40.20 psf)*

$1,250,000

$75,000

$331,381 ($4.25 psf)

Financial Summary for GSIP

*Total excludes parcels 6, 7, and 8




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Location

Centrally Located Selma is centrally located between California major markets in northern and southern California, with access to two of the state’s major transportation corridors in Highway CA-99 and I-5.

Measure C Much of Fresno County’s road and highway improvements are funded by Measure C, a half-cent sales tax aimed at improving the overall quality of Fresno County’s transportation system. In its first 20 years, Measure C delivered more than $1 billion of improvements to state highways and county roadways, including the building of additional lanes to freeways throughout the County including the expanses of Highway 99 that is adjacent to Golden State Industrial Park. As a result of the successful original measure, Fresno County voters chose to extend Measure C for an additional 20 years.

Source: Fresno County EDC

CALIFORNIA

Bakersfield

San Diego

Los Angeles Riverside

San Bernardino

San FranciscoStockton

Modesto

SACRAMENTO

MercedSan Jose

Oakland

Madera

US99US

101

US

I-5

US80

US15

US10

US40

US

8

US99

US

I-5

US

I-5

TulareVisalia

LemooreHanford

Coalinga

Major National Highway

(labeled)Regional Connecting Freeway

(unlabeled)

FresnoSelmaSelma




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Seattle

Portland

Boise

Sacramento

San Francisco

Los Angeles

San Diego

Reno

Phoenix

Tucson

Albuquerque

Denver

Salt LakeCity

Las VegasFRESNO

Seattle

Portland

Boise

Sacramento

San Francisco

Los Angeles

San Diego

Reno

Phoenix

Tucson

Denver

Salt LakeCity

Las VegasFRESNO

Due to Selma’s unique location in the middle of the state, FedEx, UPS, and OnTrac can reach all of California’s major market within 1 day with their standard ground shipping, guaranteed. OnTrac even has the ability to reach the entire west coast with their standard ground shipping service.


Reach over 38 million customers with guaranteed next-day ground service, without the additional cost of expedited shipping.

City Mileage

Port MileageSan Francisco Bay Area 140

Stockton 116Sacramento 145

Oakland 165Reno 285

Las Vegas 385

Los Angeles 192

LA/Long Beach 241San Diego 315

Phoenix 580

Distances to Other Ports of Entry

Ground Package Delivery Transit Days from Fresno/Selma

Las Vegas

Seattle

Portland

Boise

Sacramento

San Francisco

Los Angeles

San Diego

Reno

Phoenix

Tucson

Albuquerque

Denver

Salt LakeCity

FRESNO

FedEx

UPS OnTrac

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Transit Days

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Location




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Selma Story Selma is in Central California and is home to over 23,000 people. Often called the Raisin Capital of the World, Selma offers a small-town lifestyle with the amenities of a larger metropolitan area. The City of Fresno, which is less than 15 miles to the north, is the 5th largest city in California. Selma is considered part of the Fresno trade area and employers can draw from a large pool of labor and businesses are able to sell to a region with over one million people. Additionally, Selma benefits from its proximity to the region’s primary north-south highway, Highway 99, which connects Selma with numerous cities throughout California. More information about Selma can be found at: http://www.cityofselma.com/ Selma’s Major Employers:• Dragados Flatiron Partnership• Selma Unified School District• Selma Auto Center• Xtreme Manufacturing (located at Golden State Industrial Park)• Adventist Medical Center• Quinn Caterpillar• Guardian Industries• Harris Ranch Beef Co.

Selma is in Fresno County, which has over 1,000,000 residents, and is the economic and cultural center for the region. Employers in Fresno County benefit from a large labor pool as well as many incentive programs to encourage new hiring, training and expansion. Some of the incentive programs include PG&E’s enhanced economic development rate (EDR), New Employment Opportunity (NEO) program, as well as numerous tax credit opportunities.

More information about Fresno County can be found at: http://fresnoedc.com/

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4143

17.3 milesfrom Fresno

27.7 milesfrom Visalia

Location




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Property Overview

Address: 1775 Park St., Selma, CA

Improvements: 346,771± SF

Property Size: 33± acres

Zoning: M-2 (Heavy Industrial)

Electric: Provided by PG&E

Natural Gas: Provided by PG&E

Telecommunications: AT&T fiber to site

Sewer and Water: Selma-Kingsburg-Fowler County Sanitation District (http://www.skfcsd.org/)

Parcel Map: #2014-013 completed in 2017

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Parcel Number




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M A P L E G E N D

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PAR K

S T R E E T

Parcel Map

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Building 87

Fenced yard

Buildings 79, 79P, & 84

Buildings 82 & 83

Undeveloped parcel area

Billboard

Billboard

Ponding Basin

Buildings 75, 75A, 76, 77, 78, 80, 81, & 88




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Parcel Map

A P N s

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390-111-21

390-111-22

390-111-23

390-111-24

390-111-25

390-111-26

390-111-26

390-111-26

390-111-27

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Current Tenants

Buildings 75, 75A and 76 at GSIP are occupied by Dragados Flatiron Partnership

(DFP), which is the prime contractor for the California High Speed Rail Segments

2 and 3. This portion of the California High Speed Rail project is expected to cost

more than $1.5 billion and has been funded. DFP occupies 32,586± square feet

of office space. Buildings 75 and 75A are office buildings that were renovated in

2016 and received over $750,000 of capital improvements, including new floor

coverings, updated restrooms, and remodeled offices and conference rooms. DFP

recently expanded into Building 76, which has also undergone an over $200,000

renovation and remodel to accommodate DFP’s rapid employee growth. Given the

nature of large, complicated public works projects it would not be surprising to see

DFP continue to expand at GSIP and/or eventually extend its tenancy, particularly

given their large capital investment in the facilities.

More information about Dragados Flatiron can be found at: http://www.dfcp23.com/

More information about the California High Speed Rail project can be found at: http://www.hsr.ca.gov/About/

Building 84, which is 4,000± square feet, was leased to SCST, Inc. in late 2016.

This building is a free-standing warehouse that was recently remodeled at a cost

in excess of $70,000. Small, free-standing warehouses like this building are

typically in great demand and achieve appreciably higher rental rates compared to

multi-tenant buildings. SCST, Inc. is a regional engineering firm that utilizes GSIP to

service local clients, including DFP and its subcontractors.

More information about SCST, Inc. can be found at: http://www.scst.com/

Buildings 82 and 83 are well-maintained manufacturing buildings fully occupied by

Xtreme Manufacturing. Xtreme is a 15+ year old company that provides

proprietary equipment to Ahern Rentals as well as other construction-related

businesses. Xtreme has occupied space at GSIP for more than 15 years and is one

of Selma’s largest employers. The buildings feature functional office space,

numerous restrooms, paint booths, ovens and many types of cranes.

Additionally, these buildings have ample electrical service that is typically required

by manufacturing-related users along with numerous heavy-duty cranes, features

that are very costly and time-consuming to upgrade to replicate in other buildings.

Xtreme has also recently installed automated CNC machines, robots and laser

cutters to increase production and enhance productivity.

Xtreme and the landlord are in preliminary discussions regarding a potential

lease extension.

More information about Xtreme can be found at: https://www.xmfg.com/

More information about Ahern Rentals can be found at: http://www.ahern.com/

Additionally, there are two billboards located on the west side of the property

that are leased to CBS Outdoor Inc. that generate over approximately $11,000 of

income per year.

Please contact marketing team for more information about each tenant

and their leases.




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Building/Parcel Specifications Parcel 1 – Building 87Hard-to-find, free-standing, 7,500± SF warehouse on a

0.95± acre parcel. The building has four dock positions

and three grade level doors. Entire property is

perimeter fenced and secured. Office area is 750± SF

and has a large open room and two restrooms.

Building was recently renovated and roof is in good

condition. Parcel 2, which is 0.32± acres, is adjacent

to Parcel 1 and is available to expand outdoor storage

area for Parcel 1.

Building Size: 7,500± SF

Parcel Size: 0.95± acre

Clear Height: 16’

Electrical Service: 400+ AMP; 480V; 3 phase

Fire Sprinklers: Yes

Gas Heaters: Yes

Evaporative Coolers: Yes

Dock Doors: 4

Grade Level Doors: 4

Construction: Steel frame

APN: 390-11-21

Total Price: $487,500 ($65.00 psf)




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Building/Parcel Specifications Parcel 2 – Out ParcelThis parcel may be utilized for additional parking or

storage by the users of Building 87 or Buildings 79 and

79P. The parcel is fenced and almost completely paved.

There is an open-sided building on this parcel.

Alternatively, this parcel may provide additional

access to Golden State Boulevard (pending approval

by City of Selma).

Parcel Size: 0.32± acres

APN: 390-11-22

Total Price: $75,000




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Parcel 3 – Buildings 79, 79P and 84Three buildings totaling 71,360± SF on a 4.85± acre

parcel. Each building is well-suited for manufacturing

or light industrial uses. The buildings are in very good

condition and feature grade level loading and ample

area for outdoor storage. Building 84, which is 4,000±

SF, is currently leased to SCST, Inc.


APN: 390-11-23

Total Price: $3,091,680 ($38.00 psf)

Building 79:


Clear Height: 20’


Electrical Service: 800 AMP; 480V; 3 phase


Restrooms: Yes

Lighting: Fluorescent

Gas Heaters: Yes


Cranes: (11)2 ton bridge cranes

(2) mono-rail cranes

(1) jib crane

Occupancy: Vacant. Can be combined

with Building 79P.

84

79P 79

Building/Parcel Specifications




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Parcel 3 – Buildings 79, 79P and 84

Building 79P


Clear Height: 22’


Electrical Service: 2,000 AMP; 480V; 3 phase


Restrooms: Yes

Gas Heaters: Yes


Occupancy: Vacant. Can be combined

with Building 79.

Building 84

Over $70,000 was recently spent renovating the

building, including the offices, restrooms, and electrical

systems and evaporative coolers.


Clear Height: 16’


Electrical Service: 200 AMP; 480V; 3 phase

Office Area: Yes. Recently renovated

Restrooms: Yes. Recently renovated

Gas Heaters: Yes

Evaporative Coolers: Yes (new units)

Occupancy: Currently fully occupied by

SCST, Inc. Lease information

available upon request.

84

84

79P

79P79

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Parcel 4 – Buildings 82 and 83Buildings 82 and 83 are modern manufacturing

buildings completely occupied by Xtreme

Manufacturing. The buildings total 112,980± SF and

are on an 8.39± acre parcel. The parcel has excellent

Highway 99 frontage/visibility that can provide an

occupant with valuable branding and exposure.

Also, the parcel has ample paved area for employee

parking, outdoor storage, or expansion.


APN: 390-11-24

Total Price: $4,746,000 ($42.00 psf)

Building 82


Clear Height: 20’




Office Area: Yes

Restrooms: Yes

Cranes*: (9) 1/2 ton jibs

(1) 1 ton jib

(1) 1/4 ton jib

(2) 1 ton jibs

(14) 2 ton bridges

(1) 3 ton bridge

*Subject to verification (2) 5 ton bridges

82 83

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Parcel 4 – Buildings 82 and 83

Building 82 (continued)Gas Heaters: Yes


Occupancy: Fully occupied by Xtreme

Manufacturing, LLC.

Lease information available

upon request.

Building 83


Clear Height: 20’




Office Area: Yes

Restrooms: Yes

Cranes*: (2) 1/2 ton monorails

Paint Booths: Yes

Powder Coating Booths: Yes

Gas Heaters: Yes


Occupancy: Fully occupied by Xtreme

Manufacturing, LLC.

*Subject to verification

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82





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Parcel 5 – Undeveloped AreaThis parcel is a paved area at the northwest corner of

GSIP. Currently, the parcel is used by DFP for employee

and contractor parking, but the Landlord has the right

to relocate. In the future the parcel may be developed

for a higher and better use, including light industrial or

service commercial. The parcel’s visibility from

Highway 99 may be beneficial to future tenants

and/or users.


APN: 390-11-25

Total Price: $331,381 ($4.25 psf)

T R A F F I C VO L U M E

Source: Sitewise 2017

Approximately 9,156± cars travel on 2nd Street dailyApproximately 66,352± cars travel on Highway 99 daily





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Parcels 6 and 7 – BillboardsThese parcels are individual dual-sided billboards

leased to CBS Outdoor. Leases expire in 2021 and may

offer an opportunity to increase cash flow due to the

scarcity of billboards along Highway 99 and the

inability to develop more billboards in

a high-traffic area.

Current Revenue: $10,928 per year

- Parcel 6 $4,844 per year

- Parcel 7 $6,084 per year

T R A F F I C VO L U M E

Source: Sitewise 2017

Approximately 9,156± cars travel on 2nd Street dailyApproximately 66,352± cars travel on Highway 99 daily


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Parcel 8 – Ponding BasinThere is a plan underway to add a drainage pipe to Park

Street which would enable the owner of the property to

reorient the drainage towards Park Street in selected

acres and reclaim this ponding basin for development.

This parcel has excellent exposure to Highway 99.


APN: 390-11-26





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Parcel 9 – Buildings 75, 75A, 76, 77, 78, 80, 81, & 88Parcel 9 consists of eight buildings.


APN: 390-11-27

Total Price: $5,209,160

Buildings 75 and 75A:

These buildings are connected and currently fully

occupied by Dragados Flatiron Partnership as well as

administrative staff for the California High-Speed Rail

Authority. It is possible to separate the spaces into two

units, which allows for flexibility when re-leasing the

spaces. The floor plan has many private offices,

conference rooms, break rooms, restrooms and ample

open space. There are over 170 parking stalls.

The property has recently received major investment

by the tenant and owner of over $750,000, including

ADA upgrades and new HVAC systems.

Size: 26,000± SF

Restrooms: Yes

Sprinklers: Yes

Telecommunications: AT&T fiber

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81

77

75A

88

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Parcel 9 – Buildings 75, 75A, 76, 77, 78, 80, 81, & 88

Building 76:

Free-standing two-story office building that is fully

occupied by DFP. This building recently underwent an

extensive remodel to accommodate DFP’s growth.

New HVAC systems, restrooms, floor coverings and

paint were part of the remodel. In the future, this

building may be leased separately from the other

buildings on this parcel or it can be included with

Building 77 since there is a breezeway that connects

the two buildings.

Size: 6,586± SF

Restrooms: Yes

Sprinklers: Yes

Telecommunications: AT&T fiber

Occupancy: Leased to DFP.





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Building 77:

Free-standing manufacturing building that is

well-suited for heavy industrial users as well as many

types of assembly-related businesses. The roof on this

building is in good condition. Ample paved land for

outdoor storage and/or parking.

Size: 90,000± SF

Office Space: 4,000± SF

Restrooms: Yes

Sprinklers: Yes

Electrical Service: 3,100 AMP; 277/480V; 3 phase

Natural Gas: Yes

Gas Heaters: Yes


Dock Doors: 3


Cranes: (13) half-ton jib cranes

(1) half-ton mono-rail crane

(1) one-ton mono-rail crane

(1 ) two-ton mono-rail crane

(14) two-ton bridge cranes

(1) three-ton bridge crane

Occupancy: Vacant

77





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Building 78:


Clear Height: 20’


Electrical Service: 400+ AMP; 480V; 3 phase


Restrooms: Yes

Gas Heaters: Yes


Cranes: (1) half-ton jib crane

(1) one-ton bridge crane

Occupancy: Vacant

Building 88:

This building is a 6,357± SF open-sided structure that

can be used by the occupants of Parcel 9 to store

materials. It may be possible to enclose this building.

This building is easily visible from Highway 99.78

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Market Fresno County Workforce

Current labor and industry information along with occupational industry projections for the Fresno Metropolitan Statistical Area (MSA)

Fresno County Labor Force 445,800

Employed 404,200

Unemployed 41,600

Unemployment RateCalifornia Employment Development Department, November 2016

California Employment Development Department, November 2016

California Employment Development Department, Employment Projections by Industry and Occupation, February 2015

California Employment Development Department, Employment Projections by Industry and Occupation, February 2015

9.3%

Industry Nov ‘16

Employed Nov ‘15

EmployedYOY

ChangeYOY

Change (%)

Industry

Occupational Title

Total, AllIndustries

378,900 372,900 6,000 1.6%

Rank

RankSOC Code

Total Farm 40,400 40,500 (100) -0.2%

Manufacturing 25,900 25,300 600 2.4%

Educational &Business Services 63,600 62,700 900 1.4%

Mining &Lodging

300 300 0 0.0%

Information 3,800 3,900 (100) -2.6%

Other Services 11,700 11,600 100 0.9%

Total Non-Farm 338,500 332,400 6,100 1.8%

Trade, Trans., & Utilities

68,300 67,200 1,100 1.6%

Leisure &Hospitality

31,600 31,500 100 0.3%

Construction 15,100 14,800 300 2.0%

Construction

Personal Care & Service Occupations

Educational Services, Health Care, & Social Assistance

Architecture & Engineering Occupations

Leisure & Hospitality

Healthcare Support Occupations

Professional & Business Services

Construction & Extraction Occupations

Financial Activities

Computer & Mathematical Occupations

% Growth

% Growth

37.7%

38.0%

31.9%

35.4%

22.1%

26.0%

31.4%

32.2%

19.5%

24.8%

1

1 39-0000

2

2 17-0000

4

4 31-0000

3

3 47-0000

5

5 15-0000

Professional & Business Services 31,000 31,400 (400) -1.3%

FinancialActivities

13,600 13,100 500 3.8%

Government 73,600 70,600 3,000 4.2%

Industry Employment - Fresno MSATop 5 Projected Growth Occupations by Occupational Classification

- Fresno MSA (2012-2022)

Top 5 Projected Growth Industries by Employment - Fresno MSA (2012-2022)




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Occupational Title

Fresno MSA

Fresno MSA

Fresno MSA

Fresno, CA

Fresno MSA

Fresno MSA

Fresno MSA

Fresno, CA

# Employed

330

7,900

2,330

2,120

-

480

4,590

5,180

Median HourlyWage

$36.70

$14.57

$12.82

$12.43

$15.87

$23.71

$12.21

$11.01

Average HourlyWage

$40.75

$15.34

$14.01

$13.97

$15.41

$26.63

$13.72

$12.43

Average AnnualWage

$84,754

$31,918

$29,145

$29,044

$32,062

$55,388

$28,531

$25,845

OccupationCode

Transportation, Storage, and Distribution Managers

Office Clerks, General

Shipping, Receiving, and Traffic Clerks

Industrial Truck and Tractor Operators (including forklift drivers)

Order Clerks

Transportation and Material-Moving Supervisors

Stocks Clerks and Order Fillers

Laborers and Material Movers

11-3071

43-9061

43-5071

53-7051

43-4151

53-1031

43-5081

53-7062

Fresno MSA - Occupational Wage Estimates Q1 2016

California Employment Development Department, Occupational Wages Estimates

Market




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Selected Fresno County Development Projects:Community Medical CentersClovis Cancer Center: Clovis Community Medical Center is planning a $65 million facility for cancer hospital. The 100,000± square foot facility will be one of a kind in the valley. The goal of the Cancer Center is to consolidate all of Community’s outpatient cancer services to the new facility and will conduct research with UCSF.

Community Regional Medical Center: A five-story, 180,000± square foot pediatric office building in Downtown Fresno. The more than $1 billion expansion will feature pediatric sub-specialists and outpatient services. The expansion should be completed by the end of summer 2017. California Health Sciences University (CHSU): CHSU’s announced plans to build their 826,000± square foot permanent medical school campus on 70 acres of land at the Clovis Research & Technology Park. The $250 million campus will eventually have 2,000-3,000 students and a staff of 300-400. This new university is planning to open the new campus in 2019. Fowler Pediatric Care Medical Plaza: Valley Children’s Hospital and Adventist Health formed a partnership to build a $10 million medical plaza in the City of Fowler with an aim of improving pediatric rural health care services. The planned 16 acre state-of the art pediatric care facility, located adjacent to State Highway 99, is scheduled to open in the early part of 2018.

High-Speed Rail: The nation’s first ever high-speed rail project broke ground in Downtown Fresno in January 2015. Phase 1 of the $64 billion California High-Speed Rail (HSR) project will connect San Francisco and Los Angeles through the San Joaquin Valley with passenger trains traveling up to 220 miles per hour. The first operational segment is expect to be completed by 2025 and Phase 1 by 2029. Construction of the system is currently underway in Fresno and Madera.

Downtown Fresno Station: Downtown Fresno has been designated as the location for the rail station serving Fresno and Madera Counties. The station will be located at Mariposa and H Streets and construction of the station could begin as soon as 2017. The City of Fresno in partnership with the California HSR Authority is developing a master plan to include station area designs, market feasibility analysis, a real estate development strategy, an infrastructure and financing plan, and transportation integration plan. The Fresno Station will support and further advance Downtown Fresno’s current revitalization efforts.

The Square at Campus Pointe: $260 million, 45 acre mixed-use development project at Fresno State. A public private partnership development, at full build out, Campus Pointe will have over 1 million± SF of space. Currently 250,000± square feet of retail space has been constructed with anchor tenant Maya Theaters opening in April of 2015. Future phases of the project call for office buildings, a hotel, and a senior housing project.


Market Business Activity




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Selected Fresno County Development Projects (continued):The Fulton Street Reconstruction Project: The Fulton Mall was one of the nation’s first pedestrian malls constructed. Built in 1964, the mall converted Downtown Fresno’s “main” street into a pedestrian only mall. The mall and surrounding buildings have suffered from neglect for decades. The City of Fresno is planning a $20 million project to re-open the mall to vehicle traffic in an effort to help revitalize one of Fresno’s historic districts. Construction has began and will be completed in Spring 2017 .

Warehouse Row Project: $13 million renovation of the historic Warehouse Row buildings in Downtown Fresno. Nearly completed, project consists of 220,000± square feet of commercial office space.

Clovis Centennial Plaza: Completed in the Spring of 2015, the 7,500± square foot Clovis Centennial Plaza is located in Old Town Clovis in Clovis, CA. The next phase of the project will include the construction of two retail and office buildings adjacent to the plaza that will total 31,000± square feet of new retail and office space. Construction will begin in early 2016. Clovis Centennial Plaza information.

Hotel Fresno: $23 million renovation project of Downtown Fresno’s historic Hotel Fresno. When complete, the seven-story building will consist of 79 residential apartment units. Renovations are expected to begin in 2016. GV Urban: GV Urban of Granville Homes, a major residential developer in Fresno, is Granville’s urban development division focused on new, preservation, and revitalization residential development projects in Downtown Fresno. In just the past couple of years GV Urban has completed 7 residential mixed-use projects in Downtown Fresno, with another nearing completion. The eight projects total to nearly 270 multi-family housing units along with an additional 15,000± square feet of retail/commercial space. GV Urban has plans for new projects as Downtown Fresno’s revitalization continues to expand.

Boardwalk at Palm Bluffs: New 74,000± square foot office complex development located in north Fresno. The new development is part of the larger Palm Bluffs Corporate Center project, which includes 1.7 million± SF of existing occupied commercial office space.

The Marketplace at El Paseo: 45 acre retail development project located in northwest Fresno. Phase 1 of the projecthas been completed, which consists of 400,000± square feet of retail space. Phase 2, an additional 350,000± square feet of retail space is currently under construction.

Hotel Projects: There are six hotel projects in the Fresno/Clovis area that have reached the permitting process. Clovis, CA• 79 unit hotel located near Shaw Ave and Clovis Ave.• 114 unit hotel located on Shaw Ave east of CA-168.Fresno, CA• 92 unit hotel located on West Shaw Ave east of CA-99.• 100 unit hotel near Herndon Ave and CA-41 with 6,200± SF event center. • 92 unit hotel located just south of Fresno-Yosemite International Airport.• 152 unit hotel to be located in the Campus Pointe development at Fresno State


Market Business Activity




29

THE FRESNO YOSEMITE INTERNATIONAL AIRPORT (FYI)

The Fresno Yosemite International Airport is

located approximately six air miles northeast of

downtown Fresno. FYI currently has direct jet

service to Los Angeles, San Francisco, San Diego,

Portland, Seattle, Las Vegas, Phoenix, Denver,

Salt Lake City, Dallas/Fort Worth, Honolulu, and

Guadalajara, Mexico. Local residents appreciate

the ease of getting in and out of the Fresno Air-

port compared to other terminals in our nation.

A newly expanded terminal will enhance service even further.

FREIGHT RAIL Freight Rail is one of the most viable transportation options for the Fresno

County manufacturing and

distribution/warehousing

industries. Fresno County is

served by Union Pacific (UP),

BNSF, and San Joaquin Valley

Railroad, which provides

service to both UP & BNSF

lines.

HIGH-SPEED RAIL The nation’s very first

high-speed rail project

broke ground in

downtown Fresno in

January 2015.

Our region will now mark

the starting point of a

high-speed rail network

that will one day span the

entire state, beginning

with the first operational

segment between the San Joaquin Valley and Los Angeles, before

advancing to a 500 mile system connecting San Francisco to Los

Angeles. Phase 2 of the project calls for extensions to Sacramento

and San Diego to complete the entire 800 mile system.

Already, the design and right-of-way phases of the first high-speed

rail segment have resulted in hundreds of hours of employment

and millions of dollars in contracts for local businesses. Some of

the strongest voices in Fresno County government, business, and

civic leadership, have joined a regional partnership called Fresno

Works to bring the planned High-Speed Rail Operations and Heavy

Maintenance Facility (HMF) to Fresno. In addition, training and

educational programs are gearing up to provide a skilled workforce

for high-speed rail construction, operations, and maintenance.

Market Transportation




30

The most significant factor contributing to Fresno County’s affordable cost of living is

affordable housing. The relatively low cost of housing in Fresno County attracts many

new residents to the region. These new residents arrive from all parts of the country

but especially from California’s large metropolitan areas. As the rebound effect from

the housing market lows of the Great Recession begin to fade, real estate markets

increasingly depend on strong fundamentals to drive sustainable housing activity. The

Fresno housing market possesses these strong fundamentals; solid job growth, low

vacancy rate, a market not overvalued, and affordability, amongst other factors. Thanks

to the presence of these fundamentals, the Fresno housing market was ranked as the

healthiest in the United States entering 2016 according to a report issued by mortgage

industry leader Freddie Mac.

The Fresno metropolitan area ranks #1 as the healthiest housing market in the U.S.- Multi-Indicator Market Index ® Freddie Mac“ “

Median Sales Price of Homes SoldNovember 2015

Region Median Price

Fresno County $242,000

Long Beach $478,000

Clovis $298,000

Los Angeles $682,000

Alameda County $663,000

Elk Grove $380,000

Oakland $567,500

San Francisco $1,050,000

San Jose $720,000

Fresno $220,000

Sacramento County $310,000

Berkeley $832,000

Sacramento $275,000

Los Angeles County $525,000

Santa Clara County $829,500

Sunnyvale $1,172,000

California Home Sale Activity by City, CoreLogic, September 2016

Market Housing




GOLDEN STATE INDUSTRIAL PARK...metropolitan area. The City of Fresno, which is less than 15 miles to...

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