Development Parcel - Corona, CA

Temescal Canyon Rd. & Cajalco Rd.
Corona, CA 92881

Marketing Materials

Overview

Jones Lang LaSalle (“JLL”), is pleased to offer for sale a development parcel of land (the “Property” or “Asset”) adjacent to a newly-built Circle K convenience store and gas station. The Property is located in a highly trafficked retail corridor within Riverside County, the fourth largest county in California. The Asset benefits from strong surrounding demographics, which include a population of 134,108 residents and an average household income of $105,358 within a five-mile radius. The Asset is located in the C-P-S zoning district (Scenic Highway Commercial), which allows for a broad range of permitted commercial uses to serve the growing Corona retail market.

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Investment Highlights
Dense and Affluent Demographics - The Asset is located in Riverside County, the fourth largest county in California and one of the largest counties in the United States. The surrounding area boasts a strong demographic profile with 134,108 residents and an average household income of $105,358 within a five-mile radius of the Asset.
Beneficial Zoning Amendment - With the newly-approved C-P-S zoning amendment, the Property will offer ownership the opportunity to choose from a wide variety of commercial development opportunities. The C-P-S zoning district has minimal development standards and allows for 100 permitted commercial uses that compliment the established retail corridor in the immediate area.
Dominant Retail Corridor - The Property is adjacent to Crossings at Corona, the area’s main retail shopping center with over 60 retailers and restaurants. Both the Asset and Crossings at Corona are located just off of the Cajalco Exit of Interstate 15, a highway that sees traffic counts exceeding 160,000 vehicles per day.
Major Development Activity - Significant development in the area reflects Corona’s strength and growth potential. Major developments include the addition of two new express lanes along Interstate 15 and the Bedford living community that will bring 1,620 new homes to Corona over the next decade.
General
Property Type Land
Property Address Temescal Canyon Rd. & Cajalco Rd.
Corona, CA 92881
Primary Use None
Financial
Price $1,466,230
Cap Rate Confidential
Current NOI Confidential
Lease
Remaining Term Confidential