Gateway at Butte Creek Flyer - Voit Real Estate Services

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Gateway at Butte Creek Flyer - Voit Real Estate Services

LEGENDNE - NEIGHBORHOOD - EDGENG - NEIGHBORHOOD GENERALNC - CENTERNG - NEIGHBORHOOD GENERALGateway At Butte Creek(NOT A PART)Southgate AvenueHighway 99OPENSPACEPRESERVECORE - CORENEIGHBORHOOD PARKS AND GREENSNC - NEIGHBORHOOD CENTERCORE - CORESD-1 - SPECIAL DISTRICT 1:MIXED-USE TRANSITION TO INDUSTRIALSD-2 - SPECIAL DISTRICT 2:MIXED-USE TRANSITION TO HIGHWAYNEIGHBORHOOD PARKS AND GREENSSD-1 - SPECIAL DISTRICT 1:MIXED-USE TRANSITION TO INDUSTRIALSD-2 - SPECIAL DISTRICT 2:MIXED-USE TRANSITION TO HIGHWAYGateway at Butte Creek will provide a developerthe opportunity to purchase 211.66 acres of landwith entitlements that are currently in the processwith an application for approval of tentative map,annexation and development agreement submittedto the City of Chico. Although this property is notlocated within the incorporated city, it is locatedwithin Chico’s sphere of influence. The seller hasbeen working directly with the City of Chico on all theapprovals with the city being very accommodating.According to the city planner, Gateway at Butte Creekis approximately 12-18 months from completion ona tentative map.Property Highlights• The southern half of the project will include 585 residential lots(independent living cottages and active adult homes) and a 100-unitassisted living site for a total of 685 lots/units.• The northern portion of the project will include 67 acres of commercialmixed-use with 1,650,000 square feet proposed and 20.08 acres of lightindustrial land with 692,000 square feet of proposed.• The subject development will also include 25.58 acres of open space,consisting of neighborhood parks, a detention facility and a creek/water feature, which will divide the southern residential land use fromthe northern commercial/retail/light industrial land use.• The subject development surrounds an existing baseball complexowned by the Eastside Little League, which is not part of the subjectdevelopment.The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its accuracy, we do not guarantee it. ©2013 Voit Real Estate Services, Inc. AllRights Reserved. Real People. Real Solutions. ® is a registered trademark of Voit Real Estate Services.


LocationGateway at Butte Creek is located in Chico, California. Chico is located approximately 90 milesnorth of Sacramento, 180 miles northeast of San Francisco and 140 miles southwest of Reno,Nevada. Chico is located in Butte County and Oroville, the County seat, is located 20 milessoutheast of Chico.The primary thoroughfare for the Chico area is Highway 99 (traveling north and south).Gateway at Butte Creek is located at the southern entrance to Chico and has over a half mileof frontage along the west side of Highway 99. Highway 32, which bisects Highway 99 threemiles north of Gateway at Butte Creek, provides access to Interstate 5.Location Highlights• Chico is the largest population center in the northern Sacramento Valley betweenSacramento and Redding• Housing is typically 20% below California statewide median home price and fair marketrent• The City of Chico’s retail sphere of influence encompasses a 29 square mile area with atotal population of 102,120• Chico dominates population growth in the County and between 2000 to 2010 averagedan annualized population growth rate of 4.3%. Even through the downturn annualizedpopulation growth has remained impressive averaging 3.8% between 2000 and 2012• Pent up demand - with the continued population growth we anticipate there will be pentup demand for new housing units, between 2000 and 2007 the City of Chico averagedissuing 489 permits annually for new single family homes; between 2007 and 2012 Chicoaveraged 113 permits annually• As of the second week of March, in Chico there are only 174 active single family detachedhome sale listings in the local MLS. This is barley a two month supply of inventory andis 20% lower than the lowest reported inventory and 43% below the highest reportedinventory in 2012Chico StateChico is home to California State University, Chico, “Chico State”. Founded in 1887, Chico Stateis the second-oldest campus in the twenty-three-campus California State University system.As of the Fall 2012 semester, the university had a total enrollment of 16,470 students. With anestimated 1,800 employees, Chico State is Chico’s second largest employer, second only toEnloe Medical Center at 2,275 employees. Chico State’s annual general fund budget is $169.7million and its impact on the Sacramento Valley region and the State of California is enormouswith annual spending related to Chico State ($413 million) generates a total impact of $761million on the regional economy and more than $960 million on the statewide economy.Gateway At Butte CreekQuality of LifeChico embodies a combination of urban and ruralassets that make it a destination place to live, work andplay. As a university community, Chico is the haven forinnovation and entrepreneurship bringing togetherresources to assist entrepreneurs and businesses toinvest in Chico and create economic prosperity. Chico isa magnet to individuals seeking an environment whereyou can live and work while enjoying unparalleledaccess to outdoor recreation.Chico has a thriving downtown area of unique,independent retail shops, restaurants and a farmersmarket. City Plaza hosts free concerts regularly duringthe summer.Bidwell Park is a 3,670-acre municipal park thatencompasses both sides of Big Chico Creek Canyon fora full five miles up into the foothills. Bidwell Park is afocal point of the community providing paved and dirttrails for bicyclists, joggers, skaters, mountain biking,horseback riding and hiking.The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its accuracy, we do not guarantee it. ©2013 Voit Real Estate Services, Inc. AllRights Reserved. Real People. Real Solutions. ® is a registered trademark of Voit Real Estate Services.


212 Acre Mixed Use Development For SaleGateway At Butte CreekEsplanade EsplanadeCohassest Rd99BIDWELL PARK32Primary MarketGateway at Butte Creek will have a draw from a Primary Market Area (PMA), or primarydraw, of 10 miles with 75% of the potential residents emanating from the PMA. Withinthe PMA there approximately 475 units of assisted living, independent living and memorycare facilities with an additional 100 units within the Secondary Market Area (SMA). TheSMA encompasses a 20 mile radius for a total of 575 assisted living, independent livingand memory care facilities. Ages 65 years and older account for approximately 19.2% ofthe population within the PMA and 25.6% within the SMA. With that said we believe theneed for senior housing is and will remain very strong. Discussions with local providers andmunicipal planning departments indicate there are no facilities planned at this time.Chico Retail MarketE 20th St• Chico retail market consists of 656 buildings totaling 7,526,264 Sq FtPark Ave• Vacancies peaked at 8.4% in the 4th quarter of 2011 and have since dropped to7.3% with a positive net absorption since the 4th quarter of 2011.Skyway• As vacancy condenses the demand for new retail space will increase construction99• Gateway at Butte Creek has approximately .60 miles of Highway 99 frontage andis located at a signalized intersection which makes this the premier retail locationwithin Butte County and surrounding areasMidway MidwaySouthgate Southgate Ave AveChico Industrial Market• Chico industrial market consists of 227 buildings, 10,000 Sq Ft and larger, totaling7,323.201• Vacancies peaked at 12% on the 3rd quarter of 2010 and have since declined to5.8%• As vacancy condenses the demand for new industrial space will increaseconstruction• With the industrial segment of Gateway at Butte Creek being located just offHighway 99, this will draw many companies due to its close proximity to Hwy 70,Hwy 32 and only 25 miles from I-5Gary Gallelli, E.V.P.Director Investment Sales916.784.2700gary@gallellivoitco.comDRE LIC 01099383Jon R. WalkerSenior Vice President916.751.3631jwalker@voitco.comDRE LIC 01204666Mickey TurpenAssistant Vice President916.784.2700mick@gallellivoitco.comDRE LIC 01340787Voit Real Estate Services2237 Douglas Blvd., #100Roseville, CA 95661T (916) 784.2700 | F (916) 848.0205www.gallellivoitco.com

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