Murrieta Hot Springs Road and Townview Avenue,
Murrieta, CA 92563
Property Description:
Approximately 13.28 acres of vacant land located on Murrieta Hot Springs Road in the City of Murrieta within Southwest Riverside County with approximately 185,918 sf of industrial and flex buildings and units.
Acquisition Date:
October 7, 2005
Land Acquisition Cost:
$5,979,387.00
Project Lender:
City National Bank, N.A.
Ms. Maryann Hobbs
100 Pacifica, Suite 400
Irvine, CA 92618
Estimated Project Value:
$34,450,000
Project Team:
Property Owner: Pointe Murrieta Partners LLC Project Developer: Pacific Pointe Partners, Inc. Project Architect: Hill Pinkert Architects, Inc. Project Engineer: KCT Consultants, Inc.
Project Strategy/
Business Plan:
The business plan for Pointe Murrieta Partners LLC is separated into four various outcomes: 1.) Case 1 – Sell land with density restrictions in place; 2.) Case 2 – Sell land after density restrictions are removed; 3.) Case 3 – Develop property as an Industrial Business Park with density restrictions in place; 4.) Case 4 – Develop property to highest and best use after density restrictions are removed. Cases 1 and 2 are strict land sales to investors or developers and Cases 3 and 4 are complete development projects including entitlement, construction and sales and leasing of completed product.
Copyright 2004, Pacific Pointe Partners, Inc., All Rights Reserved.
