N o t e : 1) Definition of Industrial Space is: Buildings within

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1 A N T E L O P E V A L L E Y I n d u s t r i a l B a s e A n d V a c a n c y R e p o r t

2 I n t r o d u c t i o n T O V a c a n c y R e p o r t S U M M A R Y O F R E P O R T s Summary Absorption Rate Historical ruction - Single Tenant Historical ruction - Multi Tenant New and Planned Industrial Map-Enterprise Zone A V A I L A B L E I N D U S T R I A L S P A C E A N T E L O P E V A L L E Y Lancaster Single-Tenant Lancaster Multi-Tenant Palmdale Single-Tenant Palmdale Multi-Tenant L A N C A S T E R A N D P A L M D A L E N E W S P A C E Lancaster Multi-tenant space built since 2004 report Palmdale Multi-tenant space built since 2004 report Lancaster Single/divisible built since 2004 report Palmdale Single/divisible built since 2004 report L A N C A S T E R / P A L M D A L E I N D U S T R I A L B U S I N E S S P A R K S M A S T E R I N V E N T O R Y L I S T O F I N D U S T R I A L P R O P E R T I E S N o t e : 1) Definition of Industrial Space is: s within Industrial Zoning that have roll-up doors. (Exceptions of Rite Aid and Michael s distribution centers). 2) square footage was estimated where City and County Assessor had no information or when circumstances required. 3) Door openings were estimated when required. 4) of buildings were estimated when required. 5) Areas not surveyed: Palmdale-6th St. East between Palmdale Blvd. and Ave R.; Older Area. Lancaster- Some areas east of Sierra Highway on Ave. I Mel Layne, GAVEA President

3 S U M M A R Y O F R E P O R T Introduction This updated 2009 Industrial Base and Vacancy Summary Report is an extensive compilation of empirical information regarding the availability of industrial space and land in the Antelope Valley. The supporting documents categorize individual buildings according to the number of units, total square footage, availability, lease rate if available, building height, loading doors, and dates of construction. The report contains summary pages providing a quick assessment of the industrial base vacancies and available land within the cities of Palmdale and Lancaster. The full report is posted on the GAVEA website at Questions regarding this report should be directed to GAVEA by telephone at or by at info@aveconomy.org. Links buildings & available land New and planned industrial construction Net absorption on an annual basis Other Links Enterprise Zone Foreign Trade Zone City of Lancaster City of Palmdale Purpose The purpose of this report is to identify industrial land and buildings in Palmdale and Lancaster with the goal of developing a plan for their utilization by attracting new businesses to the area, creating jobs and wealth-building opportunities for local residents, and working toward the goal of a job/housing balance for those in the workforce who are living in the Antelope Valley. This goal may be accomplished by incorporating the following: 1. Compile the current industrial properties for future site assessment and outreach marketing activities. 2. Enhance electronic databases of available industrial sites for ease in locating. 3. Continue to enhance the marketing plan for contacting major employers so that large existing buildings in the Antelope Valley can be maximized for wealth-creating opportunities. 4. Develop a plan to provide adequate industrial space opportunities in a timely fashion, such as permit preapproved buildings that can easily add on sections. 5. Promote entrepreneurial use of available government land and buildings associated with Plant 42 and the Los Angeles Department of Airports (LAWA). The ancillary purpose of the analysis contained in this report is to establish a basis for integrating the empirical data. Likewise, it aims to create a balanced analytical system that will respond not only to historical information and current empirical observation, but also will provide a basis for anticipating future needs. This comparative information will provide a definitive evaluation of absorption of industrial space and a basis for making recommendations about the type of product that is undersupplied in this market. Also, it will serve as a resource for potential employers that are considering expanding or relocating to the Antelope Valley in terms of defining availability of space that meets their requirements. Industrial Market Overview Based on the four primary economic indicators of industrial development net absorption rate, available space, vacancy rate, and affordable land for development the Antelope Valley is the location of choice for relocating or expanding businesses in Los Angeles County. The 2007 Antelope Valley Industrial Base & Vacancy Report published by GAVEA indicated new construction of industrial space amounting to 1,775,387 square feet between July 2004 and July The construction equaled a phenomenal 22.4% increase in the Antelope Valley s total industrial space, excluding so-called special use buildings as described under the Methodology section of this GAVEA 3

4 S U M M A R Y O F R E P O R T report. In contrast, from July 2007 to November 2009 only 156,588 square feet of industrial space was constructed. s as described under the heading Methodology. In contrast, from July 2007 to July 2009 only 92,315, square feet were constructed. Vacancy Rate In the past, one of the major obstacles to attract businesses moving to the Antelope Valley has been the lack of available space. In recent years, this situation has changed dramatically. The total vacancy rate of the Antelope Valley, as measured by the percentage of the total availability of single and multi-tenant space, has increased steadily since July For example, that rate was recorded at 1.1% in July 2004 and increased to 7.9% in July 2007; a further increase of 13% was recorded in November Important differences can be noted between the two major cities in the Antelope Valley in November 2009: the total vacancy rate in Lancaster stood at 7.59% and in Palmdale at 27.77%. In terms of square footage, the total available multi-tenant space in Lancaster was recorded at 421,839 square feet in November 2009 and in Palmdale at 571,894 square feet in that same month. It is worth noting that much of the new space in Palmdale is available for purchase rather than for lease. Nonetheless, the economic recession will continue to put pressure on this market for the foreseeable future. The situation for single-tenant space is somewhat different than that for multi-tenant space. Single-tenant space usually has a lower vacancy rate as it tends to be built and occupied by the owner. Recent statistics point out the reality of this scenario. In November 2009, the single-tenant available space in Lancaster stood at 122,543 square feet or only 2.7% of the total single-tenant space available compared with the multi-tenant vacancy rate of 16.5%. In that same time period, Palmdale recorded 148,015 square feet of available single-tenant space or 16.6% of that total compared with the multi-tenant vacancy rate of 33.7%. Net Absorption During 2004 to 2007, one of the bright spots of new industrial space in the Antelope Valley was the impressive increase in the net absorption rate of multi-tenant facilities (for sale and lease) designed to accommodate the needs of smaller start-up and growth firms. Unfortunately, with the current economic downturn that need has temporarily vanished. Antelope Valley Historical Absorption Rate ANNUAL RATE (SF) , , , (172,919) The above aggregate statistics mask important changes between the single and multi-tenant markets. For example, during , the average annual absorption for multi-tenant properties in the Antelope Valley was 194,693 square feet. In contrast, from 2007 through 2009, the average annual absorption for these properties was recorded at a negative (85,188) square feet, indicating a drastic change in that market. The situation for single-tenant properties also changed dramatically. From 2004 through 2007, the average annual absorption for single-tenant properties in the Antelope Valley was 217,948 square feet. In contrast, from 2007 through 2009, the average annual absorption for single-tenant properties in the Antelope Valley was recorded at negative (45,137) square feet. It is important to note that in our 2007 Industrial Base and Vacancy Summary report, buildings under construction were represented as being partially leased. Some of those leases were not completed due to the recession. It is this situation that explains, in most part, the negative absorption rates for the timeframe. GAVEA

5 S U M M A R Y O F R E P O R T New ruction Antelope Valley new construction from July 2004-July 2007 (SF) Lancaster single-tenant...560,081 Lancaster multi-tenant ,420 Palmdale single-tenant...198,375 Palmdale multi-tenant...539, ,775,387 Antelope Valley new construction from July 2007-July 2009 (SF) Lancaster single-tenant...9,696 Lancaster multi-tenant ,592 Palmdale single-tenant Palmdale multi-tenant... 19, ,448 The total new construction for the Antelope Valley decreased by 91 percent during July compared with the July period. The largest declines were experienced in both the Lancaster and Palmdale single-tenant markets. Marketing The availability of industrial space, as highlighted above, has facilitated a vigorous marketing effort by GAVEA s investor members and its alliance cities. This effort has yielded one win with over 90 businesses interested in considering the Antelope Valley for relocation or expansion. We believe that when businesses know all the facts about the costs of moving out of state, compared with relocating or expanding to the Antelope Valley, they may want to reconsider and look to the Antelope Valley as their final destination. According to many economists, the national and world economic recessions took hold in December The recession has had and will continue to have a dramatic impact upon the growth and relocation of businesses for the foreseeable future. However, there are profitable companies even in these recessionary times and GAVEA s marketing efforts are creating interest in the Antelope Valley from a number of companies seeking opportunities that will help insure the success of their business. These companies tend to be large, sophisticated, and smart in their overall business plan, and are repositioning their operations to reap important profits in the future. Many of the companies also tend to be large in employee numbers and need to be located near their markets in the Los Angeles Basin or to local prime defense contractors. Other companies interested in the Antelope Valley have indicated a willingness to revisit the issue of relocation once they see signs of an economic turnaround. Cost of Doing Business Comparative Analysis The cost of doing business in Lancaster and Palmdale is considered to be low to moderate, as determined by the respected Kosmont Study that rates more than 400 cities across the nation. More information on this study can be found in GAVEA s 2009 Economic Roundtable Report that is available online at a printed copy may be obtained by contacting GAVEA s office by telephone at or by at info@aveconomy.org. GAVEA

6 S U M M A R Y O F R E P O R T Jobs/Workforce The online version of the jobs/workforce statistics will be updated pending completion of the 2010 Labor Base Report that is expected to be released in summer Industrial Land While an ample supply of land is a selling point for the Antelope Valley, available land with completed infrastructure at the site for immediate construction is not as plentiful as desired, and remains an obstacle to accommodating and attracting large businesses to the area. While there are a few large parcels of land available, this issue remains a challenge for the cities in the foreseeable future. Many businesses hoping to relocate are skeptical about the problems involved with construction of new facilities and are looking for a short timeframe to move, which is usually between 90 and 180 days. This problem has required the efforts of the Redevelopment Agencies of both Palmdale and Lancaster to purchase parcels of land, sometimes through eminent domain, complete the infrastructure, and offer those parcels for sale. Examples of this arrangement include the Fox Field Corridor in Lancaster and the Fairway Park in Palmdale. The value of this foresight, in terms of attracting new businesses to the area and the subsequent employment that it has facilitated, cannot be overstated. This effort must continue to be pursued with all diligence as future industrial growth is contingent upon its success. For more history on the efforts of our alliance cities, please contact GAVEA. It is hoped that the industrial areas in the Antelope Valley will mature to the point that the cities will become less involved in development and more involved in marketing the region than in the past, and that private investors will become more aggressive and self-sustaining than at the present in investing in the infrastructure for future industrial construction. Housing Housing construction as measured by building permits, continued to slide since For all practical purposes, construction virtually stopped in 2008, as shown below: Single Family Permits Issued (number) Lancaster Palmdale While the total number of building permits surged in 2004 and 2005, and to a lesser extent in 2006, they were far behind the 6,820 permits issued by Palmdale and the 3,707 permits issued by Lancaster in Despite this bleak situation, as far as employers are concerned, the downturn in the housing market has made the Antelope Valley an even more affordable place to live and work offering more purchasing power for both workers and executives. This affordability only makes the Antelope Valley more attractive than in the past to companies looking to lower their costs in California. There are few areas in Southern California that can compare. The recession has caused foreclosures to increase at a record rate. After several years of double digit increases in housing prices, in many cases prices dropped 40% to 50% from their high levels. On the bright side, this decrease in housing prices, together with government stimulus for first-time home buyers, has spurred housing sales: 590 home sales were recorded in July 2008 and increased to more than 900 homes sold July A recent turnaround in sales prices and multiple offers above the asking price indicate that the market likely has hit bottom and the return of stabilized prices may be a reality in the not too distant future. GAVEA

7 S U M M A R Y O F R E P O R T Comments The Antelope Valley continues to diversify its economy away from a traditional aerospace community to one that includes other manufacturing, warehousing and distribution, and various other businesses. That being said, aerospace/defense continues to be by far the largest single job sector in the Antelope Valley and is vital to the region s economic prosperity. For example, Edwards Air Force base alone contributes over $1.8B to the local economy with about 12,800 civilian and military employees, not to mention the roughly 7,200 jobs creating a $550M plus in payroll at Air Force Plant 42 in Palmdale. Other major Antelope Valley employers include: Delta Scientific (170 manufacturing jobs), Bank of America Loan Processing Center (1,685 jobs), Deluxe Corporation (317 jobs), Kaiser Permanente (768 jobs), Michaels Crafts warehouse (230 jobs), Rite Aid Distribution Center (699 jobs), Antelope Valley Mall (1,800 jobs), and Walmart (2,346 jobs). While aerospace jobs remain vital to the Antelope Valley economy, their percentage of total jobs decreased from 22% of the total workforce in 1990 to 7% in Without a doubt, continued diversification will have a stabilizing effect on the Antelope Valley economy as a whole. The cities of Palmdale and Lancaster have been pro-active in their economic development efforts that continue to be a major factor in attracting and retaining businesses to the area. The success of such efforts, however, has been limited primarily to businesses already located within California. Efforts to reach businesses outside the state continues to be a challenge, since California struggles with its image of being a state with high costs of doing business and the current budgetary crisis continues to appear in national headlines. The Antelope Valley has many favorable advantages to attract and retain businesses including: Development of new businesses for homeland security that desire to be located near, or work in conjunction with, major defense contractors. Sufficient land zoned for industrial use at competitive prices. In most cases, land prices are much less than other areas in the Los Angeles Basin. For example, before the recession improved land in the Santa Clarita area was priced at about $16 to $18 a square foot compared with $2.50 to $8.50 a square foot in the Antelope Valley (depending on location and infrastructure). Right now, it is difficult to determine pricing because the transactions completed are based upon the economy of the moment and the reality of the financial needs of both the lessor/ owner and leasee/tenant. Development of retail outlets, improving the image of the area, and offering a better quality of life to its citizens than in many other areas of the state and country. A separate Air Quality Management District providing increased flexibility and lower costs. A lower cost of doing business compared with other areas in Southern California. A state Enterprise Zone covering over 61 square miles that encompasses industrial and commercial properties and offers the following state tax incentives: 1) hiring credits, 2) sales and use tax credits, 3) business expense deductions, 4) net operating loss carryover, and 5) net interest deduction for lenders. A Foreign Trade Zone (FTZ) that offers manufacturers and importers the ability to manufacture, assemble, process, store, test, re-label, repack, or process imported materials without paying or deferring customs duties and government excise taxes. If the final product is exported from the United States, there could be no tax liability. GAVEA

8 S U M M A R Y O F R E P O R T Therefore, companies currently importing components for final assembly in the Antelope Valley will likely find significant savings from being located in the FTZ. Business assistance programs through the Small Business Development Center (SBDC) and the Los Angeles County Economic Development Corporation (LAEDC). A skilled and diversified workforce. Affordable housing. Cities are pro-active in their desire to bring new businesses to the Antelope Valley with competitively-priced development and processing fees. Redevelopment projects throughout the area allowing for pro-active city involvement in attracting new business. A low level of employee unionization. Active workforce services that offer employee education in conjunction with local colleges and business linkages. Methodology-Classification of s 1. Definition of industrial space: buildings with roll-up doors within industrial zoning, industrial/commercial classification, or a specific plan allowing for industrial businesses. 2. square footage was estimated where the city and/or County Assessor had no information regarding the building or when circumstances required. 3. Door openings and height of buildings were estimated when circumstances required. 4. Areas excluded due to absence of industrial activity: Palmdale - 6th Street East between Palmdale Blvd and Avenue R Lancaster - some areas east of Sierra Highway on Avenue I 5. Government and private building square footage at Plant 42 was considered for the study but was excluded in the vacancy calculations for total square footage. area in use at Plant 42 is 3,653,163 square feet and remains unchanged since the last industrial report was published in Special Use buildings are defined as buildings mainly suitable for one user and are generally not divisible. The expected tenant or users would be considered a large corporate company such as that involved in aerospace; as such, this type of building would require extensive modifications to be used for other purposes. 7. Los Angeles World Airports (LAWA), Site 9, located in Palmdale, is a cluster of five buildings containing approximately one million square feet and is classified as a Special Use site. LAWA states that the building site is being marketed as one unit, but in 2007 leased 422,000 square feet on a long-term lease to NASA. The buildings are generally not divisible because of their size and are considered best suited for one user, such as a company involved in aerospace manufacturing or construction. More information can be obtained by contacting the real estate division of LAWA. Note: LAWA building square footages were included in this study under the heading of Special Use but excluded in the totals related to base and vacancy. It was decided it would be more representative of the area, for the GAVEA

9 S U M M A R Y O F R E P O R T private sector analysis, if these buildings were categorized separately. Since the buildings are uniquely suited for one user, it was determined that their inclusion without making this distinction could be misleading if an individual/corporation were to just view the summary information. This situation would be particularly true if the viewer did not analyze the details in the body of the study. 8. BAE Systems has a 47,640 square foot building located at 30th Street East and Avenue P incorporating approximately 10,000 square feet of office space. BAE Systems owns the building and is leasing the land from LAWA. 9. Lockheed Plant 10 (Skunk Works), located at 1011 Lockheed Way in Palmdale, has total square footage of 2,356,735 and is classified as Special Use. Lockheed reports that all space in currently being utilized. There are no plans for additional construction of building for the next three to five years. 10. This report represents only Palmdale and Lancaster since Avenue A was designated as the northern boundary for the study, due to funding constraints. 11. All land within the zoning classifications of industrial properties of the two cities was identified by the Assessor s Parcel Number in the 2004 GAVEA study; this information is available on the GAVEA website Assessor s Parcel Numbers were not updated for the 2007 and 2009 reports. The industrial land properties may or may not be available or suitable for development, and a search for property in this data base would be more suited for a land speculator than for development. land was identified by proximity to Interstate 14 and/or completion of infrastructure. Over 4,000 parcels in the cities of Lancaster and Palmdale are cataloged. 12. New and planned Tentative Parcel Maps for industrial park development were also identified and included and updated for this 2009 report. 13. The following Lancaster properties were reclassified for this 2009 report as multi-tenant buildings rather than single-tenant buildings: Tenants Square Feet 4514 & 4516 Runway Drive , & 4542 Runway Drive , & 4544 Runway Drive , & 4543 Runway Drive , Other single-tenant Lancaster properties that were removed from the database totaled 72,437 square feet. Examples of reasons for their removal include demolishment, business closure and lot is now dirt, conversion to eatery, or duplication of entry GAVEA

10 L a n c a s t e r / P a l m d a l e I n d u s t r i a l P r o p e r t i e s S u m m a r y

11 L A N C A S T E R / P A L M D A L E I N D U S T R I A L P R O P E R T I E S S u m m a r y Lancaster s Space Space AVAILABLE AS % of total Single Tenant Space 4,610, , % Multi Tenant Space 2,558, , % Space 7,169, , % Palmdale s Space Space AVAILABLE AS % of total Single Tenant Space 893, , % Multi Tenant Space 1,698, , % Space 2,592, , % Special Use Space Space AVAILABLE AS % of total Space* 7,107, , % *Special use buildings are generally not dividable and deemed suited for special suited for special purposes and are designated by the assessors office as possessory interest building -meaning government owned Combined Lancaster & Palmdale s Space Space AVAILABLE AS % of total Single Tenant Space 5,504, , % Multi Tenant Space 4,257, , % Space (Public) 9,761,909 1,264, % (All Space Including Special Use) 16,869,447 1,939, % GAVEA 11

12 H I S T O R I C A L I N D U S T R I A L B A S E A N D V A C A N C Y S U M M A R Y Lancaster Multi Tenant SQ Ft Single Tenant SQ FT total SQ FT s 2,558,936 4,610,316 7,169,252 Vacant 421, , ,382 Vacancy Rate Percentage July % 9.30% 14.60% August % 13.40% 13.00% Jul % 3.70% 6.90% Aug % 0.39% 1.69% Feb % 1.23% 1.24% Jul % 2.86% 3.67% Nov % 2.66% 7.59% Palmdale Multi Tenant SQ Ft Single Tenant SQ FT total SQ FT s 1,698, ,758 2,592,657 Vacant 571, , ,109 Vacancy Rate Percentage July % 0.00% 8.10% August % 12.60% 13.30% Jul % 8.70% 8.90% Aug % 1.89% 2.82% Feb % 0.60% 0.51% Jul % 3.91% 19.18% Nov % 16.56% 27.77% Antelope Valley Multi Tenant SQ Ft Single Tenant SQ FT total SQ FT s 4,223,659 5,504,074 9,727,733 Vacant 925, ,718 1,190,201 Vacancy Rate Percentage July % 5.80% 14.60% August % 13.10% 13.00% Jul % 5.00% 7.60% Aug % 0.67% 1.59% Feb % 1.09% 1.05% Jul % 3.02% 7.89% Nov % 4.92% 12.95% 12 GAVEA

13 H I S T O R I C A L I N D U S T R I A L B A S E A N D V A C A N C Y S U M M A R Y 30.00% 25.00% Lancaster Palmdale Antelope Valley 20.00% 15.00% 10.00% 5.00% 0.00% Jul-91 Jul-92 Jul-93 Jul-94 Jul-95 Jul-96 Jul-97 Jul-98 Jul-99 Jul-00 Jul-01 Jul-02 Jul-03 Jul-04 Jul-05 Jul-06 Jul-07 Jul-08 Jul-09 GAVEA 13

14 I N D U S T R I A L A B S O R P T I O N S U M M A R Y Multi-Tenant Lancaster Palmdale s AVERAge Pre-existing Multi-Tenant Industrial Space 122, , ,418 annual absorption New Mutli-Tenant Industrial Space ,592 19, ,752 7/07-11/09 Minus Multi-Tenant Industrial Space (421,839) (571,894) (993,733) Subtotal Leased Multi-Tenant Space (171,740) (83,823) (255,563) (85,188) Single-Tenant Lancaster Palmdale s AVERAge Pre-existing Single-Tenant 136,708 33, ,588 annual absorption New Single-Tenant s ,696 9,696 7/07-11/09 Minus Single-Tenant s (122,543) (148,015) (270,558) Subtotal Leased Single-Tenant s ,861 (114,135) (90,274) (45,137) Combined Multi-Tenant & Single-Tenant Lancaster Palmdale s AVERAge All Pre-existing Industrial Space 259, , ,006 annual absorption All New Multi & Single Industrial Space ,288 19, ,448 7/07-11/09 Minus Multi & Single-Tenant Industrial Space (544,382) (719,909) (1,264,291) All Leased Industrial Space (147,879) (197,958) (345,837) (172,919) *Excludes Aerospace and Military Facilities Source: GAVEA 14 GAVEA

15 I N D U S T R I A L C O N S T R U C T I O N Lancaster Industrial ruction Single /Divisible 7/97-11/09 1,000, , , , , , , , , ,884 76,551 76,690 81, ,512 24, , Palmdale Industrial ruction Single /Divisible 7/97-11/09 250, , , , , ,000 50, ,000 31,696 26,330 15,400 19,200 15, GAVEA 15

16 I N D U S T R I A L C O N S T R U C T I O N Lancaster Industrial ruction Multi-Tenant 07/97-11/09 250, , , , , , ,000 81,719 79,927 91,109 63,459 63,690 60,699 50, ,975 23,465 5, Palmdale Industrial ruction Multi-Tenant 07/97-11/09 400, , , , , , , , , ,000 50, , , , , , , GAVEA

17 P l a n n e d I n d u s t r i a l P r o p e r t i e s Lancaster PROJECT/APPLICANT SQ. FT. ACRES DESCRIPTION STATUS CASE # Avenue K1753, LLC 31, Office/Warehouse Expires DR Mojave Merchant Ltd 8 Industrial s Under construction DR BCP Comm, Properties, LLC 23, Industrial DR Robert Stephens 15, Industrial s Under construction SPR Dave Kerr 11, Industrial SPR Great Western Land & Dev. 60, Industrial s Expires SPR Rare Properties, Inc. 25, Industrial Expires SPR Moe Commer 36, Industrial Center Expires SPR Greg Haines 45, Industrial s 4 Completed DR Lancaster s 249, Palmdale PROJECT/APPLICANT SQ. FT. ACRES DESCRIPTION STATUS CASE # Sheridan Ebbert Real Estate Developers 330, Industrial lots APN ,010 Crystal Point LLC 111, ruct 10 Multi-use Ind. Bldgs. APN Palmdale s 441, Combined s 691,033 Approved; Expires 12/09 SPR TPM Submitted 3/2006 SPR GAVEA 17

18 I N D U S T R I A L L A N D A R E A M A P S Lancaster, CA, Industrial Land Area 70 W 60 W 50 W 40 W 30 W Ave E SP SP SP SP SP Ave F 3269 SP SP Fox Field 3268 SP 3114 PM W 10 W Division 10 E Ave G SP SP SP SP SP North Valley Ind. Ctr Fox Field Industrial Corridor Ave H Ave I Ave J 20 E 30 E Ave K Ave L Highway 14 Sierra Highway & Rail Road Number = Assessor s Parcel Book Ave M Lancaster Business Park Enterprise Industrial Park Southern Amargosa Industrial Park Palmdale, CA, Industrial Land Map Ave M Ave N Ave O Ave P Ave Q Palm Blvd. Ave R Ave S 1 10 W Division 10 E 20 E 30 E 40 E 50 E 2 7 Air Force Plant Pa 1. Sierra Business Park 2. Freeway Business Center 3. Fairway Business Park 4. Sierra Gateway Business Park 5. Park One Industrial Center 6. Palmdale Trade & Commerce Center 7. Palmdale Business Park 60 E 70 E 80 E 90 E Highway 14 Sierra Highway & Rail Road Number = Assessor s Parcel Book 18 GAVEA

19 A V A I L A B L E I N D U S T R I A L S P A C E L a n c a s t e r S i n g l e - T e n a n t L a n c a s t e r M u l t i - T e n a n t P a l m d a l e S i n g l e - T e n a n t P a l m d a l e M u l t i - T e n a n t

20 A v a i l a b l e i n d u s t r i a l b u i l d i n g s Lancaster Single-Tenant Properties Year Built Bldg. & Clear FOX FIELD INDUSTRIAL CORRIDOR NORTH VALLEY INDUSTRIAL CENTER Division Street 1 1 1,800 1,800 not known x14 Steel Sierra Highway 1 1 2,550 2, ,481 sq ft adjoining lot, fully fenced Division Street 1 1 2,500 2, x12 Steel Fenced Yard Division Street ,000 21, x14 Stucco/ Steel Miller Distributing Vacant, Boarded Office Warehouse & yard Lancaster Business Park Division Street 1 1 5,000 5, x14 Steel with yard West Avenue J ,320 2, Steel CBC Cabinets Ovington Street 1 1 1,400 1, x14 Steel West Avenue J ,532 2, Block Countrywide Towing 3 offices, 3 bays; roll-up doors, 2 loading docks 155 West Avenue J ,200 4, Steel Gifts & More Kathy Pillsbury Street 1 1 5,000 5, x16 Stucco Steel 3138 Presently Occupied 3138 Dock Area Yucca Avenue 1 1 1,000 1, x10 Stucco Fenced yard for vans Trevor Avenue 1 1 5,721 5, Na Stucco Trevor Avenue 1 1 4,000 4, (1) 12x12 (3) 8x10 Steel Trevor Avenue 1 1 4,520 4, x12 Stucco 3138 LANCASTER BUSINESS PARK Venture Street ,600 12, (2) 10x14 Tilt-up dp commercial Sahuayo Street 1 1 5,000 1, x7 12x7 Tilt-up High Desert Sweeping CCL Engineering Lancaster Business Park Two Story SOUTHERN AMARGOSA INDUSTRIAL 610 West Avenue L 1 1 9,696 9, (2) 12x14 Tilt-up Fenced Yard 1055 West Avenue L ,600 10, x16 Block Lee & Associates th Street West 1 1 6,536 6, x16 Tilt-up United Refrigeration Located in Antelope Valley Business Park United Refrig. Inc. GAVEA 20

21 A v a i l a b l e i n d u s t r i a l b u i l d i n g s Lancaster Single-Tenant Properties Year Built Bldg. & Clear th Street West 1 1 6,720 6, x16 Tilt-up Coldwell Banker Located in Antelope Valley Business Park; Fenced yard th Street West 1 1 5,940 5, x10 Block Fenced Yard th Street West 1 1 5,040 5, (3) 12x12 Block P. C. Motorsports Warehouse & Office OUTSIDE OF BUSINESS & INDUSTRIAL CENTERS 2027 East Avenue I \ Wood Frame 5 Acres 3154 Lancaster Single-Tenant s 122,543 LANCASTER Multi-Tenant Properties Year Built Bldg. & Clear FOX FIELD INDUSTRIAL CORRIDOR 4514 & 4516 Runway Drive ,318 14, ' (4) 12x14 (2)TH 14x18 Tilt-up SCP, Daum Enterprise and Free Trade Zone Benefits & 4542 Runway Drive ,384 7, (4) 12x14 Tilt-up Daum Amex International Dist. Co & 4543 Runway Drive ,384 7, (4) 12x14 Tilt-up Daum TLC Woodworks 3105 NORTH VALLEY INDUSTRIAL CENTER Trevor Avenue ,685 7, (4) 12x12 Block Owner occupied on North half One half of building is machine shop Trevor Avenue ,290 16, (4) 12x12 (1) 6x8 (1) 12x Yucca Street ,000 6, (12) 10x12 10x10 Block 3137 Block Valley Realty Harvey Holloway avg 10% office build-out; one front loaded dock-high door; 200 amp power Trevor Avenue 1 6 5,039 1, (5) 10x10 Block Henry Booker GAVEA 21

22 A v a i l a b l e i n d u s t r i a l b u i l d i n g s LANCASTER Multi-Tenant Properties Year Built Bldg. & Clear LANCASTER BUSINESS PARK 104 East Avenue K ,000 3, (16) 10x12 Concrete tilt-up LEDC Lancaster Business park 200 amp power 124 East Avenue K ,126 11, x10 Tilt-up Lee & Associates East Avenue K ,854 17, Tilt-up DnD Packaging Campus Business Park 200 East Avenue K ,220 19, x14 Tilt-up 211 East Avenue K ,424 6, (16) 12x14 Tilt-up Henry Booker East Avenue K ,320 11, (2)12x10 Block Greg Hanes 304 East Avenue K ,320 11, (2)12x10 Block Greg Hanes 314 East Avenue K ,320 11, (2)12x10 Block Greg Hanes 320 East Avenue K ,320 11, (2)12x10 Block Greg Hanes 212 East Avenue K ,465 7, x10 Tilt-up Campus Business Park, in the Lancaster Bus. Park 229 East Avenue K ,052 10, x1 Tilt-up Grubb & Ellis East Avenue K ,853 9, x12 Block No sign 249 East Avenue K ,331 10, Tilt-up Cambridge Dev East Avenue K ,772 28, Tilt-up 339 East Avenue K ,522 5, x12 Tilt-up Cross Street Venture DAUM Comm R.E East Avenue K ,885 9, x14 Tilt-up McGarrey Bus. Park Daum Comm R.E Capital Drive ,459 24, Truck Tilt-up Daum Comm R.E Lancaster Business Park Business Center Parkway ,684 15, No sign Fastenal, Bingo, Etc Copeland Circle ,880 5, x12 Tilt-up Masada Homes Located in Lancaster Business Park 220/230 E. Avenue K ,824 9, (14) 10x10 Concrete tilt-up 311/333 E. Avenue K ,000 3, x12 Concrete tilt-up dp commercial Located in the Lancaster Business Park 100 amp power Located in Lancaster Business GAVEA 22

23 A v a i l a b l e i n d u s t r i a l b u i l d i n g s LANCASTER Multi-Tenant Properties Year Built Bldg. & Clear Division Street ,350 10, (13-21) 10x10 12x12 Concrete tilt-up Fisher Development Well maintained, nicely landscaped office/ warehouse units average 15-35% buildout, amps SOUTHERN AMARGOSA INDUSTRIAL 715 East Avenue L ,424 10, (3) 12x16 Block Wall Street ,966 3, (6) 10x14 Block 604 West Avenue L ,223 17, (8) 12x14 Tilt-up Hoey & Asso West Avenue L ,600 7, x10 Block 813 West Avenue L ,520 2, x10 Block 825 West Avenue L ,520 4, x10 Block 1122 West Avenue L ,000 5, (16.5) 9x10 Concrete tilt-up Front-loaded units 200 amp power 1125 West Avenue L ,760 6, x10 Block Radiator Depot 1127 West Avenue L ,760 6, x10 Block Groeniger & Co th Street West ,000 12, (14) 10x12 Block Hilgerfelt Complex includes 7,200 Sqft. of upstairs office. Industrial 1,200 to 4,800 Sqft. 200 amp power Street West ,820 17, ' (4) 10x12 Tilt-up No sign Wall Street ,966 3, (6) 10x14 Block 1051 & W. Ave. M ,476 3, th Street W ,000 5,000 not known 20 10x12 Concrete tilt-up 18(16) 12x12 Block CB Richard Ellis Chuck Hoey, Lenny Dance Karen Owner Considering building new unit Front-loaded Office/retail with Rear light industrial units. 200 amp power Lancaster Multi Tenant s 421,839 GAVEA 23

24 A v a i l a b l e i n d u s t r i a l b u i l d i n g s Palmdale Single-Tenant Properties Number Street Year Built Bldg. & Clear FAIRWAY BUSINESS PARK 630 St Andrews Way ,600 19, x18 Tilt-Up Leasing Agent: CBRE 3005 PALMDALE TRADE & COMMERCE CENTER Trade Center Drive ,680 22, ' Tilt-Up ABADAK Outdoor supplies FREEWAY BUSINESS CENTER PARK ONE INDUSTRIAL CENTER OUTSIDE OF BUSINESS OR INDUSTRIAL CENTERS Sierra Highway 1 1 6,550 6, (3)14x12 Block dp commercial th St. East 1 1 4,900 4, (2) 14x14 Block th St. East 1 1 4,000 4, x10 Block th St. East 1 1 1,750 1, x12 Block No sign th St. East 3 1 4,720 4, Frame No sign Vacant th St. East ,600 14, x14 Steel Daum th Street East Wood/ Stucco th Street East 1 1 6,000 6, x18' Steel Lee & Asso Vacant th Street East ,200 11, Block th Street East ,000 48, ' Roll-up Steel 48,000 sq ft warehouse + 10 acres lumber storage 2141 East Avenue Q 1 1 3,215 3, Vacant Palmdale Single Tenant s 148,015 GAVEA 24

25 Palmdale Multi-Tenant Properties Year Built Bldg. & Clear SIERRA BUSINESS PARK th Street West ,084 5, ' 10x10 Block Edwards Investments th Street West ,280 1, x12 Block Edwards Investments th Street West 1 6 8,350 4, ' 10x12 Tilt-Up Edwards Investments th Street West ,000 12, ' 12x10 Tilt-Up Edwards Investments FAIRWAY BUSINESS PARK 114 Grand Cypress ,925 72, dock, 4 at grade Tilt-up R. Feder (818) Fairway Business Park Grand Cypress ,112 51, dock, 6 at grade Tilt-up Esolar Fairway Business Park Grand Cypress ,383 26, (1) 10x16 (8) 12x16 Tilt-up CBRE, Fairway Business Park Grand Cypress ,008 25, (1)10x16 (7)12x Grand Cypress ,927 22, ' Tilt-up CBRE Chuck Hoey Tilt-up CBRE, Fairway Business Park 3005 Fairway Business Park Grand Cypress ,927 22, ' Tilt-up CBRE Fairway Business Park Grand Cypress ,489 9, Tilt-up CBRE Fairway Business Park Grand Cypress 1 4 9,962 9, (4) 12x16 Tilt-up Hoey (661) floors La Quinta Lane ,748 6, x16' Tilt-up CBRE, Fairway Business Park La Quinta Lane ,400 14, (6) 14' roll-up Tilt-up CBRE, Fairway Business Park 3005 PARK ONE INDUSTRIAL CENTER 510 E. Rancho Vista Blvd ,586 10, x16' Tilt-up Palmdale Commerce Center 654 E. Rancho Vista Blvd ,056 6, ' Tilt-up DP Commercial Palmdale Commerce Center PALMDALE TRADE & COMMERCE CENTER 514 Commerce Avenue ,498 10, truck-mid 3 units only Tilt-up Chuck Hoey Commerce Avenue ,144 6, Truck Tilt-up Venture Corp Commerce Avenue ,498 5, truck-mid 3 units only Tilt-up Venture Corp from 1102 to 2660 sq ft from 1102 to 2660 sq ft from 1102 to 2660 sq ft GAVEA 25

26 A v a i l a b l e i n d u s t r i a l b u i l d i n g s Palmdale Multi-Tenant Properties Year Built Bldg. & Clear 560 Auto Center Drive ,456 32, Truck Tilt-up Dennis Marciniak Commerce Avenue ,144 16, Truck Tilt-up Venture Corp Commerce Avenue ,498 5, Truck-mid 3 units only 624 Commerce Avenue ,498 1, Truck-mid 3 units only 650 Commerce Avenue ,498 5, Truck-mid 3 units only Tilt-up Venture Corp Tilt-up Venture Corp Tilt-up Marciniak from 1102 to 2660 sq ft from 1102 to 2660 sq ft from 1102 to 2660 sq ft from 1102 to 2660 sq ft Office space and Flex Space OUTSIDE BUSINESS & INDUSTRIAL CENTERS 1817 East Avenue Q ,394 2, dp commercial th Street East 1 8 8,400 3, ' Block dp commercial High Desert Business Center Palmdale Industrial Center th Street East 1 8 8,400 2, ' Block dp commercial Palmdale Industrial Center th Street East 1 8 8,400 2, ' Block dp commercial rd. St. East ,000 15, x14 Block Glen Winklestein Palmdale Industrial Center Front & rear loaded units; 5,000+ sq.ft rd St. East ,420 27, x12 Block Winnell /624 E. Rancho Vista Blvd ,416 8, (4) 12x14 Tilt-up Signs & Designs Centry 21, Palmdale Commerce Center th St. East 1 6 3,680 1, (5) 10x12 Block Automotive Center th St. East ,758 7, x14 Block Automotive Center th St. East ,200 37, x12 Block Fox Industrial Park Front loader incubator units to 4,800 sq.ft Sierra Highway ,675 10, x12 Block dp commercial East Avenue Q ,286 3, dp commercial Quasi commercial 3010 High Desert Industrial Park Sierra Court ,385 65, Tilt-up Palmdale Multi Tenant s 571,894 GAVEA 26

27 L A N C A S T E R A N D P A L M D A L E N E W S P A C E L a n c a s t e r S i n g l e / d i v i s i b l e b u i l t s i n c e r e p o r t L a n c a s t e r M u l t i - t e n a n t s p a c e b u i l t s i n c e r e p o r t P a l m d a l e M u l t i - t e n a n t s p a c e b u i l t s i n c e r e p o r t

28 N e w i n d u s t r i a l b u i l d i n g s B u i lt S i n c e Lancaster Single-Tenant Properties Year Built Bldg. & Clear 610 West Avenue L 1 1 9,696 9, (2) 12x14 Tilt-up Fenced Yard Lancaster Multi-Tenant Properties Year Built Bldg. & Clear FOX FIELD INDUSTRIAL CORRIDOR NORTH VALLEY INDUSTRIAL CENTER LANCASTER BUSINESS PARK 300 East Avenue K ,320 11, (2)12x10 Block Greg Hanes 304 East Avenue K ,320 11, (2)12x10 Block Greg Hanes 314 East Avenue K ,320 11, (2)12x10 Block Greg Hanes 320 East Avenue K ,320 11, (2)12x10 Block Greg Hanes 244 East Avenue K ,853 9, x12 Block No sign SOUTHERN AMARGOSA INDUSTRIAL 604 West Avenue L ,223 17, (8) 12x14 Tilt-up Hoey & Asso West Avenue L , (3) 14x16 Tilt-up Toneman Fenced yard Street West ,820 17, (4) 10x12 Tilt-up No sign Lancaster Multi-Tenant s 127,592 Palmdale Multi-Tenant Properties Year Built Bldg. & Clear La Quinta Lane , (5) 12x12 Block Larrinaga/Nebelink Squirty s/allstate 3005 GAVEA 28

29 L A N C A S T E R / P A L M D A L E I N D U S T R I A L B U S I N E S S P A R K S

30 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Summary Report: July 2007 Lancaster Ref. No. Industrial Park Name Acreage 1 Lancaster Business Park APN: , 129 Yes Price From $8.00/sq ft Comments Plus Melo-Roos of $ Ave H Industrial Park Yes Private party parcels may be available 3 Antelope Valley Industrial Park APN: , 006, acres Infrastructure may need to be extended to some parcels in the park 4 Foxfield Industrial Corridor Yes Excellent access; Ave G fully improved in the Fox Field Corridor 5 North Valley Industrial Center Backbone Infrastructure in place; 1/2 to 100 acre parcels 6 Unnamed Ind. Park South side of Ave. G between Sierra Hwy and Division 7 Enterprise Industrial Park N.W. Corner of Sierra Hwy. & Ave. L-4 8 North Valley Industrial Center South of Ave. H-8, North of Ave. I; Between Division and RR Tracks 9 North Valley Industrial Center Southwest corner of Ave. H and Division St. Approx 50 Acres Yes Yes From $2.50/sq ft Over 2,400 ft of frontage along Ave. G and 600 frontage on Division St. Phase I infrastructure in place Approved and recorded Tract Map includes potential for 47 parcels Site located in the Enterprise Zone and Redevelopment Area 10 Fairview Industrial Park One of four adjoining Tentative Maps totaling 180 acres; five legal parcels. 11 Unnamed Industrial Park Tract Map NW corner of Ave. M & 82nd St. W Frontage along major thoroughfare; Tract Map # Unnamed Industrial Park Tract Map N. of M between 3rd & 4th St. W. Tract Map #48942 Maps scheduled to expire 8/97 Palmdale Ref. No. Industrial Park Name Price Comments Acreage 13 Palmdale Industrial Park 0 Located within the Enterprise Zone and Palmdale Foreign Trade Zone. 14 Sierra Business Park Yes Public incentives available to project including Enterprise Zone 15 Palmdale Trade and Commerce Center 8 Lots Currently receiving a high level of development activity 16 Freeway Business Park City owned property; an RFP for development has been issued. 17 Palmdale Business Park Approved Specific Plan; No infrastructure in place 18 Fairway Business Park acres $ /sq ft 9 Lots ranging from 100, ,000 square feet GAVEA 30

31 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #1: Lancaster Business Park Location Generally east of Division St. and north of Ave. L, Lancaster Commercial/Industrial Real Estate Brokers Lancaster Economic Development, City of Lancaster Project Status Sites available in the master-planned environment Acreage 240 gross acres including industrial and office/commercial sites. APN: -009 Acreage Yes Lot Sizes acres Topography Flat Current Zoning Specific Plan #80-02/c - 3R-3; Specific Plan #90-01 (Phase III) Site Access Direct access to major thoroughfares Distance from Interstate About 1.5 miles from Highway 14 Rail Access No Improvements in Place All infrastructure and landscape improvements in place Site Advantages Improved sites available in a campus-like atmosphere Site Disadvantages Includes office and industrial users. Melo-Roos of approximately $1.11/sq. ft. Comments The Lancaster Business Park is home to 100 companies employing over 4,100 people, the Business Park has attracted many nationally known firms including Countrywide Home Loans, Deluxe, Inc., Federal Express, and Lance Camper. Current available parcels are priced from $8.00/sq. ft. plus assessments. Reference #2: Ave. H Industrial Park Location North side of Ave. H, west side of Sierra Hwy., Lancaster City of Lancaster Redevelopment Agency Project Status Ongoing industrial park Acreage 60 acres (including city maintenance yard) APN: Acreage Yes Lot Sizes 2.5 acres Topography Flat Current Zoning Heavy Industrial Site Access Excellent Distance from Interstate 2 mi. from 14 Fwy. Rail Access No Improvements in Place Ave. H overpass makes access easy; curbs, gutters, sidewalks and utilities in place Site Advantages Close to rail and major highway Site Disadvantages Infrastructure not complete Comments Existing businesses includes Rexall Industries (manufacturer), Shepherd Machinery (service/repair facility for CAT Industries equipment) Pargas (propane gas supplier) and Lancaster City Maintenance. Private party parcels may be available GAVEA 31

32 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #3: Antelope Valley Industrial Park Location North of Ave. M, both sides of 6th St. West, Lancaster Real Estate Broker signage Project Status Mixed Use Office & Industrial Park Acreage N/A APN: , 006, 003 Acreage 5.87 acres Lot Sizes acres Topography Flat Current Zoning Light Industrial Site Access Excellent Distance from Interstate 1 mi. from 14 fwy.. Rail Access No Improvements in Place Curb, gutters, sidewalks, roads, all utilities Site Advantages On-site fire station, close to new courthouse and public transportation. Site located in the enterprise zone and redevelopment project area. Site Disadvantages Park lacks visual definition and identification Comments Infrastructure may need to be extended to some parcels in the park Reference #4: Foxfield Industrial Corridor Location Generally bordered by Ave. H, 14 Fwy. 70th St. West and Ave. D, Lancaster City of Lancaster Redevelopment Agency Project Status Approved Specific Plan #04-18 Acreage Project Area Acres (Fox Field East acres) and Fox Field West (136.6 acres) APN: PM# Acreage Yes Lot Sizes Parcels from 1/2 acres to several hundred acres Topography Flat Current Zoning Medium and Light Industrial (Specific Plan-Business Park #95-02) Site Access Excellent Distance from Interstate 1-5 mi. from the Fwy. Rail Access No Improvements in Place Ave. G expanded to 4 lanes with landscaped median and full improvements from 50th St. West Site Advantages Excellent access and located close to 14 Fwy. Proximity to general aviation airport. Backbone infrastructure complete Site Disadvantages Comments The Fox Field Industrial Corridor is home to major distribution and support centers for both Rite Aid drug stores and Michaels arts and crafts suppliers. Rite-Aid completed construction of 922,905 square feet in The 762,445 square foot Michaels distribution center was completed in The Larwin Investment Company has completed 89,000 of their proposed 200,00 sq. ft. of spec buildings. GAVEA 32

33 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #5 & #6: North Valley Industrial Center Reference #7: Palmdale Industrial Park Location #5 S.W. corner of Ave. H and Division St., Lancaster #6 South side of Ave G. between Ave G. and Division Harvey Holloway (661) Project Status Backbone Infrastructure in place; subdivided into 1/2 to 100 acre parcels Acreage 240 Acres APN: Acreage acres Lot Sizes.9-5 acres (14 lots) Location N.W. corner of Sierra Hwy. and Ave. L-4, Lancaster Phil Fridd-Lee & Associates Project Status First Phase has infrastructure; balance undeveloped Acreage 74 acres (20 acres developed) APN: ; 012 Acreage Approximately 50 acres Lot Sizes is a 47.8 acre parcel is a 214,315 sq. ft. lot Topography Flat Topography Flat Current Zoning Heavy Industrial SP#93-3 Current Zoning Specific Plan #82-01 Site Access Adjacent to Sierra Highway; Easy freeway access via Avenue H overpass Distance from Interstate About 2-3 mi. from 14 Fwy.. Rail Access Yes, approximately 2000 feet to rail access Improvements in Place Storm drains and other improvements depending on parcel Site Advantages High water pressure to the area Site Disadvantages Infrastructure may need to be extended to some parcels in the park Comments #5 Suited for industrial and distribution centers requiring rail access. The North Valley Industrial Center offers manufacturers parcels from one-half to 100 acres with build-to-suit opportunities. Priced very affordably, the Industrial Center features sites located within the Enterprise Zone and Redevelopment Project Area. #6 Over 2,400 ft of frontage along Ave. G and 600 ft frontage on Division St. Site Access Direct access from Sierra Highway Distance from Interstate 1.5 mi from 14 Fwy. Rail Access No Improvements in Place All of Phase I with paved streets, curbs, gutters, utilities Site Advantages Exposure to high traffic counts along Sierra Hwy., Site Disadvantages A portion of the park is located in a 100 year flood zone Comments 47.8 acres at $2.50/sq. ft. totaling $5,213, ,315 sq. ft. lot selling for $7.00/sq. ft. totaling $1,500,205 GAVEA 33

34 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #8: North Valley Industrial Center Location South of Ave. H-8, north of Ave. I between Division St. and Southern Pacific Railroad, Lancaster Harvey Holloway Project Status Approved and recorded Tract Map includes potential for 47 parcels averaging 2.3 acres each. TM #51836 Acreage 46 acres APN: , 030, , Acreage Yes Lot Sizes (contiguous acres) Topography Flat Current Zoning Heavy Industrial Site Access Good Distance from Interstate 2.5 mi. from 14 Fwy. Rail Access Yes Improvements in Place Infrastructure lacking in some parts: Trevor Ave. has been paved via special improvement district provided by the City Site Advantages Infrastructure close, reducing cost of development Site Disadvantages Only 4 lots with frontage along Division St. Reference #9: North Valley Industrial Center Location Southwest corner of Ave. H and Division St., Lancaster Harvey Holloway, Coldwell Banker Commercial Valley Realty Project Status Approved Tract Map #51841 Acreage acres APN: Acreage Yes Lot Sizes.9 to 5 acres; 14 lots Topography Flat Current Zoning Heavy Industrial SP #93-3 Site Access Very Good Distance from Interstate 2.5 mi. from 14 Fwy. Rail Access Yes Improvements in Place Trevor Ave. paved via special improvement district Site Advantages Site located in the Enterprise Zone and Redevelopment Area Site Disadvantages Only 4 lots with frontage along Division St. Comments Part of four adjoining maps GAVEA 34

35 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #10: Fairview Industrial Park Location N.W. corner of Division St. and Ave. H-6, Lancaster Project Status Tract Map #51562 Acreage 60 acres (52 acres net) APN: Acreage Lot Sizes acres Topography Flat Current Zoning Heavy Industrial Specific Plan #93.3 Site Access Very Good Distance from Interstate 2.5 mi. from 14 Fwy. Rail Access Yes Improvements in Place Ave. H-6 and Trevor Ave. both paved. Site Advantages Site Disadvantages Comments One of four adjoining Tentative Maps totaling 180 acres. Five legal parcels including a small 2.6 acre parcel and four larger parcels. Reference #11: Unnamed Business Park Location N.W. corner of Ave. M and 2nd St. West, Lancaster Project Status Tract Map #50482 for development of 30 industrial lots Acreage 20 acres APN: Acreage Yes Lot Sizes.6 acres Topography Flat Current Zoning Light Industrial Site Access Excellent Distance from Interstate 1 mi. from 14 Fwy. Rail Access Improvements in Place None Site Advantages Frontage along major thoroughfare Site Disadvantages GAVEA 35

36 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #12: Unnamed Business Park Location North of Ave. M between 3rd & 4th St. West, Lancaster Project Status Tract Map #48942 Acreage 20 acres APN: Acreage Yes Lot Sizes.67 acres each Topography Flat Current Zoning Light Industrial Site Access Good Distance from Interstate 1 mi. from Fwy. Rail Access No Improvements in Place None Site Advantages Frontage along major thoroughfare Site Disadvantages Maps scheduled to expire 8/97 Comments Tract Map not on Assessor s Records Reference #13: Park One Industrial Center Location Southeast Corner of Rancho Vista Boulevard and Sierra Highway, Palmdale Fischer Development Group at Project Status All s Complete Acreage 10 APN: Acreage 0 Lot Sizes Vary Topography Flat Current Zoning Industrial Site Access Excellent Distance from Interstate Approximately 1 mile Rail Access No Improvements in Place Infrastructure and Landscape Complete Site Advantages Location at intersection of two major thoroughfares Site Disadvantages Heavy traffic during shift change Comments Located within the Enterprise Zone and Palmdale Foreign Trade Zone. The center is within close proximity to major aerospace companies, U.S. Plant 42, Rail Lines and Palmdale Regional Airport. Park has CC&R s GAVEA 36

37 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #14: Sierra Business Park Location West side of 10th St. West at Avenue M-4 in Palmdale City of Palmdale Project Status Office and Industrial buildings have been constructed Acreage 22 APN: Acreage Yes Lot Sizes Average.6 acres per lot, 26,000 square feet Topography Flat Current Zoning M1 Site Access Good Distance from Interstate 1/4 to 1/2 Mile Rail Access No Improvements in Place Infrastructure Complete Site Advantages Close to Freeway Site Disadvantages Single point of entry at non-signalized intersection Comments Public incentives available to project including Enterprise Zone Reference #15: Palmdale Trade and Commerce Center Location Generally bordered by 10th St W, Avenue P-14 & Palmdale Blvd City of Palmdale Project Status Mixed-use Development: 310 acres Indust.; 163 acres Retail; 146 acres Office; 28 acres Recreational Acreage 310 Acres APN: Assessor Parcel Maps ; Acreage 8 Lots ranging from 100, ,000 square feet Lot Sizes Various Topography Minor Grade Current Zoning Specific Plan permits various commercial and industrial land use Site Access Excellent Distance from Interstate Straddles the Freeway Rail Access No Improvements in Place Curb, Gutter, Roads, and Utilities Site Advantages Unmatched Freeway access and visibility Site Disadvantages Comments Public incentives available to project include Enterprise Zone, Foreign Trade Zone, Redevelopment Agency, Business Attraction Incentive Program and Antelope Valley Air Quality Management District. Currently there is 219,535 sq ft of medical office space under various stages of development. Additionally, there is another 584,763 sq ft of commercial and industrial space under development. GAVEA 37

38 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #16: Antelope Valley Business Park Location S.E. corner of 10th Street West and Avenue M, Palmdale City of Palmdale/Redevelopment Agency Project Status Mixed-use Development: acres Industrial; acres Business Park; 5.53 acres Commercial; and acres Streets Acreage Acres APN: Acreage Acres Lot Sizes Various Topography Flat Current Zoning Specific Plan permits various commercial and industrial land use Site Access Excellent Distance from Interstate One Quarter Mile Rail Access No Improvements in Place None Site Advantages Excellent Site Disadvantages In the Flood Plain Comments Approved Specific Plan (1992); Former Lusk Business Park purchased by the City in 1994 for $1.5M. No development as of this report but the City is indicating development of the project in the near further. City has issued an RFP. Reference #17: Palmdale Business Park Location South of Avenue M, East of Sierra Highway, Palmdale City of Palmdale/Redevelopment Agency Project Status Mixed use development Acreage Acres APN: Acreage Lot Sizes Various Topography Flat Current Zoning Specific Plan permits various commercial and industrial land use Site Access Excellent Distance from Interstate One and One Quarter Mile Rail Access yes Improvements in Place None Site Advantages Excellent Site Disadvantages Comments City purchased approximately 600 acres from Lockheed. Plan is to develop a PowerPlant on part of it with the remaining for industrial use. GAVEA 38

39 I n d u s t r i a l P a r k s w i t h a v a i l a b l e l a n d Reference #18: Fairway Business Park Location Avenue 0 between 7th St. West and Division Street City of Palmdale Project Status Ongoing Industrial Park Acreage 115 APN: Assessor Parcel Maps ; Acreage Acres Lot Sizes 9 Lots ranging from 100, ,000 square feet Topography Flat Current Zoning Super Light to Heavy Industrial Site Access Excellent Distance from Interstate Approximately 1 mile Rail Access No Improvements in Place Close to Freeway and Palmdale Regional Airport; See Comments Site Advantages Access to two major thoroughfares Site Disadvantages No rail Comments Public incentives available to project include Enterprise Zone, Foreign Trade Zone, Redevelopment Agency, Business Attraction Incentive Program and Separate Air Quality Management District. Variations of newly constructed, state-of-the-art buildings are available in the Park for lease or purchase. Offering a range of zoning from super light to heavy industrial, the Fairway Business Park can accommodate users anywhere from medical device warehousing to aerospace manufacturing. Current selling price ranges from $ $6.80 per sq. ft. GAVEA 39

40 M a s t e r P a g e s o f A l l I n d u s t r i a l P r o p e r t i e s L a n c a s t e r S i n g l e - T e n a n t s L a n c a s t e r M u lt i - T e n a n T S P a l m d a l e S i n g l e - T e n a n T S P a l m d a l e M u lt i - T e n a n T S