SUBJECTthelandgroupcw.com/wp-content/uploads/2016/06/mirar_de...SUBJECT GENERAL PLAN Planning / Development Status GENERAL PLAN Planning & Development Status General Plan Designation

ORCHARD RUN

KONYN RANCH

WOODS VALLEY

GOLF CLUB

LIBERTYBELL

PLAZA

SUBJECT

MIRAR DE VALLE5.2 ACRE DEVELOPMENT SITE

Terry Jackson+1 858 558-5685CA license [email protected]

Matt Davis+1 858 334-4026CA license [email protected]

Curtis Buono+1 858 558-5629CA license [email protected]

Offering Memorandum Disclaimer

For more information, please contact

one of the following individuals:

This Offering Memorandum was prepared by Cushman & Wakefield of San Diego, Inc (“Cushman & Wakefield” or “Advisors”) on behalf of

Owner and is confidential and furnished to prospective purchasers of the Property described herein subject to the terms of the Confidentiality

Agreement previously provided to and executed by such prospective purchasers. This Offering Memorandum is intended solely to assist

prospective purchasers in their evaluation of the Property and their consideration of whether to purchase the Property. It is not to be used for

any other purpose or made available to any other person without the prior written consent of Advisors. This Offering Memorandum is subject

to errors, omissions, changes or withdrawal without notice and does not constitute a recommendation or endorsement as to the value of

the Property by Owner/Advisors and their sources. Financial projections are provided as a reference and are based on assumptions made by

Owner/Advisors and their sources. Prospective purchasers should make their own projections and reach their own conclusions of value. Certain

portions of this Offering Memorandum merely summarize or outline property information and are in no way intended to be complete nor

necessarily accurate descriptions. This Offering Memorandum was prepared on the basis of information available to the Owner and Advisors in

connection with the sale of the Property. It contains pertinent information about the Property and the surrounding area but does not contain

all the information necessary for a complete evaluation of the Property. The projected cash flow and other financial information contained

herein are for general reference only. Although the information contained in this Offering Memorandum is believed to be accurate and reliable,

neither the Owner nor its Advisors guarantees its accuracy or completeness. Because of the foregoing and because the Property will be sold

on an “as-is” basis, prospective purchasers should make their own independent assessments, investigations, and projections regarding the

Property. Although additional material, which may include engineering, environmental, or other reports, may be provided to certain prospective

purchasers as appropriate, such parties should confer with their own engineering and environmental experts, counsel, accountants, and other

advisors and should not rely upon such material provided by Owner or Advisor. Neither Owner nor Advisors nor any of their respective officers,

advisors, agents, shareholders or principals has made or will make any representation or warranties, express or implied, as to the accuracy or

completeness of the Offering Memorandum or any of the contents, and no legal commitment or obligation shall arise by reason of the Offering

Memorandum or the contents. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility

of the prospective purchaser. The Owner expressly reserves the right, in its sole discretion, to reject any offer to purchase the Property or to

terminate any negotiations with any party or any time, with or without notice. The Owner shall have no legal commitment or obligation to any

prospective purchaser unless and until a written purchase and sale agreement has been fully executed and delivered and any and all conditions

to the Owner’s obligations there under have been fully satisfied or waived. The Owner is responsible for any commission due its Advisors in

connection with the sale of the Property. The Owner shall not be responsible for any commission claimed by any other agent or broker in

connection with a sale of the Property. No other party, including the Owner’s Advisor, is authorized to make any representation or agreement

on behalf of the Owner. This Memorandum remains the Property of the Owner and its Advisors and may be used only by parties approved by

the Owner and its Advisor. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as provided

herein and as permitted by the express terms of the Confidentiality Agreement.

cushmanwakefield.com2

Table of ContentsOpportunity Overview ............................................................. 4

Property Information .................................................................6

Planning / Development Status ............................................9

Area Profile .................................................................................. 13

Sales Process / Preferred Terms ......................................... 14

MIRAR DE VALLE 3

Opportunity Overview

5.2 acre site with a Village Core Mixed Use land use designation.

The property is located in the heart of the Valley Center community of San Diego County across from Konyn Ranch, a proposed mixed use community currently being entitled that may include single and multi-family housing, recreational amenities and possibly a commercial retail component. The subject is a mostly level; 5.2 acre site with a Village Core Mixed Use land use designation. This designation allows for a mix of uses including single and multi-family residential and commercial development. The Village Core Mixed Use designation also allows for a development with only residential uses. The land use designation provides for a density of up to 30 units per acre, and the housing element recently updated by the County anticipates 45 residential units being constructed on this parcel.



27522 VALLEY CENTER ROAD


MIRAR DE VALLE 5

LOCATION

27522 Valley Center Rd, Valley Center, CA 92082.The property has approximately 533 feet of frontage on Mirar De Valle and is located about 500 feet west of the intersection with Valley Center Road.

COUNTY San Diego County

ASSESSOR’S PARCEL NUMBER 186-270-01

SIZEPer assessor’s records, the property comprises 5.2 gross acres. The site is estimated to be 4.56 net acres after street dedication.

ACCESS

The property is currently accessed along its southern property boundary via a private drive which connects to both Mirar de Valle and Valley Center Road. It is anticipated that a future development would have direct ingress/egress from Mirar de Valle along the northern property boundary.

STRUCTURESThe property currently has improvements consisting of a 1,056 square foot main home originally constructed in 1928, and a number of garages, sheds and storage sheds.

Property Information



CURRENT USEThe property is currently rented as a single family residence on a short term basis.

WASTE & WASTEWATER

The property is within the Valley Center Municipal Water District and is serviced by a 1” water meter. Wastewater is currently handled by an onsite septic system (see Wastewater Capacity discussion in the next section).

UTILITIESElectricity and gas are provided by San Diego Gas & Electric (SDG&E).

SCHOOLSThe property is within the Valley Center – Pauma Valley School District.

TOPOGRAPHYThe property is generally level with some rolling areas.

SAN DIEGO

CHULA VISTA

CORONADO

DEL MAR

PACIFICBEACH

LA JOLLA

LA MESA

EL CAJON

TORREYPINES

KEARNYMESA

SAN DIEGOINT’L AIRPORT

SAN DIEGOBAY

PACIFICOCEAN

TIJUANA

OCEANSIDE

CARLSBAD

VISTA

ESCONDIDO

ENCINITAS

SOLANABEACH

RANCHO SANTA FE

UCSD

SORRENTOMESA

RANCHOBERNARDO

POINTLOMA

SCRIPPSRANCH

SABRESPRINGS

5

5

15

15

8805

78

56

52163

94

125

54

905

125


SUBJECT

GENERAL PLAN

Planning / Development Status

GENERAL PLAN

Planning & Development Status

General Plan DesignationThe site has a General Plan Land Use Designation of Village Core Mixed Use, which allows for a residential density of up to 30 units per gross acre. The Housing Element indicates the probable yield at the site is 45 units. In 2011, San Diego County adopted a comprehensive General Plan update whose purpose is to establish future growth and development patterns for the County’s unincorporated areas. The property falls within the South Village node of the Valley Center Community Plan. The property comprises part of the emerging South Village, an area designated by the General Plan to include a mix of uses developed in a more dense fashion and creating a more urban Village Center environment.

ZoningThe property is zoned S90 (Holding Area). The County will process a zone change to an appropriate designation concurrent with the entitlement process to reflect a development consistent with the General Plan Land Use Designation.

Wastewater CapacityThe subject’s area was previously under a 20 year building moratorium due to a high water table that prohibited the development of septic systems. Although the moratorium was lifted in 1997, the area’s lack of sewer infrastructure continued to preclude any significant commercial development. However, in 2009, the Valley Center Water District’s Board of Directors issued concept approval for the Phase 2 expansion of the Woods Valley Ranch Water Reclamation Facility (WVRWRF), which could provide wastewater services to the subject area. The subject is within the South Village Wastewater Service Area. The Seller has reserved, and will include in the sale, 45 Equivalent Dwelling Units (EDU) that commit wastewater capacity in the Phase 2 expansion of the WVRWRF. One EDU in this area is equivalent to 250 gallons per day (with certain regulations). One single-family residence of less than 4,000 SF or one unit in a multi-family development are each equal to one EDU. For commercial or retail uses, EDU requirements vary based upon the specific use. Additional EDUs may be available in subsequent expansions of the WVRWRF as demand supports.


MIRAR DE VALLE 9

Planning & Development Status

Entitlement ProcessTo entitle a project on the subject site that is consistent with the current General Plan Land Use designations, both a Site Plan Review and a Rezone will be required. These two discretionary approvals can be processed concurrently. An initial Consultation Meeting is recommended by County Land Use & Development Services staff before beginning an entitlement process. The process will consist of 1. a Major Project Pre-Application Meeting, 2. Valley Center Design Review Board approval, 3. Valley Center Planning Group approval, 4. County Planning Commission approval, 5. County Board of Supervisors approval.

Mello Roos & CFD

The property is within the boundary of the Valley Center Fire Protection District and subject the M-R Valley Center FPD #0-1 Mello Roos. The annual assessments are collected with the county property taxes.

County Planner

Dag Bunnemeyer | 858.694.2581 | [email protected]

Design Review Board

Lael Montgomery | 760.751 0300 | [email protected]

Community Planning Group

Oliver Smith | 760.751 0300 | [email protected]

VC Water

District Dennis Williams | 760.735.4577



ZONING

SUBJECT

MIRAR DE VALLE 11


ORCHARD RUN300 HOMES

KONYN RANCH WOODS VALLEY

GOLF CLUB

LIBERTYBELL

PLAZA

SUBJECT

Area Profile

Valley CenterValley Center is a bedroom community that has retained its small town character despite its recent growth from a rural, predominantly agricultural area. Today, the rolling hills are populated by a mix of executive view homes, avocado and citrus groves, undisturbed lands, and other uses. Residents of the community have access to a number of schools, a golf course, and some limited retail services, though major services are typically found in the city of Escondido to the south. San Diego County’s recently updated General Plan included a Community Plan that specifically addresses the Valley Center area. The goal of this Community Plan mirrors that of the overarching General Plan – to foster intelligent future growth by clustering more intensive uses in defined areas while preventing impractical growth or encroachment into semi-rural and rural areas. One goal of Valley Center’s Community Plan is to create “two economically viable and socially vibrant Villages where dense residential uses, as well as commercial and industrial uses, are contained.” The property is at the center of the South Village node, the North Village is about one mile north along Valley Center Road, at the Cole Grade Road Intersection. Valley Center has good regional access to/from Escondido to the south, a city that sits at the intersection of Interstate 15 and Highway 78, and Pauma Valley to the north, through which Highway 76 runs. Commercial air service is available at the McClellan-Palomar Airport in Carlsbad (18± radial miles west) and San Diego International Airport (34± radial miles south).

Demographics According to information sourced from Claritas (see Addenda section 7), between 2000 and 2012, the Valley Center community (92082 zip code) grew at a relatively robust compound rate of 2.1% per year to 20,955 residents. Over the same period, the average household income grew at a compound rate of about 2.2%, to an estimated $94,459 in 2012. Continued population and income growth are forecast for the area in the future.

MIRAR DE VALLE 13

Area Profile

Sales Process / Preferred Terms

Offering Price$1,100,000 cash to seller

Due Diligence Period

Recommended to expire no more than 60 days after the execution of the Purchase and Sale Agreement.

Terms

Close of Escrow within 30 days after due diligence.

Offer Review

Owner reserves the right to review offers as they are received.



Submit All Offers ToMKT Financial DBPP

C/O Matt Davis

Cushman & Wakefield of San Diego, Inc.

4747 Executive Drive, 9th Floor

San Diego, CA 92121

(858) 334-4026

[email protected]

MIRAR DE VALLE 15


Broker NameExecutive Managing Director+1 234 567 [email protected]




ORCHARD RUN

KONYN RANCH

WOODS VALLEY

GOLF CLUB

LIBERTYBELL

PLAZA

SUBJECT

CUSHMAN & WAKEFIELD OF SAN DIEGO, INC.CA License No.01329963 4747 Executive DriveSan Diego, CA 92109cushmanwakefield.com

Matt Davis+1 858 334 4026Ca License No. [email protected]

Terry Jackson+1 858 558 5685Ca License No. [email protected]

Curtis Buono+1 858 558 5629Ca License No. [email protected]

SUBJECTthelandgroupcw.com/wp-content/uploads/2016/06/mirar_de...SUBJECT GENERAL PLAN Planning / Development Status GENERAL PLAN Planning & Development Status General Plan Designation

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