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REAL ESTATE FORECAST

2016 Real Estate Forecast

BE BOLD!

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Y

F

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OU

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S RE N

NT

BE BOLD 5 EDC President/CEO 7 EDC Chairman of the Board 9 Event Moderators 34 Economic Development Team 38 High Speed Rail Business Support Program

INDUSTRY EXPERTS Commercial Investments ~ 10 ~

56 Board of Directors 57 The Essential Connection 58 EDC Investor Community

Residential ~ 12 ~

60 EDC Staff

Office

CITY UPDATES 40 County of Fresno 41 City of Clovis 42 City of Fowler

~ 16 ~

Industrial ~ 20 ~

43 City of Firebaugh 44 City of Kerman 45 City of Fresno

Retail ~ 24 ~

46 City of Kingsburg 47 City of Coalinga 48 City of Orange Cove 49 City of Parlier 50 City of Reedley 51 City of San Joaquin 52 City of Sanger

2

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

Agriculture ~ 28 ~

Keynote ~ 31 ~

2016 Real Estate Forecast

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INTRODUCING THE EDC PRESIDENT/CEO LEE ANN EAGER

Be Bold!

Our message this year to Fresno County businesses and leadership is a message that we here at the EDC take to heart. We have put it into practice in ways that no other EDC has tried, with successes that no one would have imagined. When we tell you now that the business conditions in Fresno County urge bold action and aggressive growth, we speak from experience as innovators and as dynamic implementers of the vision we promote. It is a bold move on the part of an EDC like ours to address business concerns about the costs of hiring and training new employees by forming an innovative partnership with the County of Fresno Department of Social Services. The New Employment Opportunities Program that has emerged from the partnership is a groundbreaking ‘business dating service’ matching our local businesses with CalWorks job seekers eligible for hire with a significant wage reimbursement to cover the initial costs of on the job training. In one ‘aha moment’, we have devised a way to relieve the tension on our social service safety net in Fresno County, put workers and their families back on track to selfworth and self-sufficiency, and provide businesses with a lower cost way to expand and enhance their workforce. It takes a bold belief in our partnerships and in the workforce of Fresno County when we hear from a company that they can’t expand here because “Fresno does not have the trained workforce ready” to do something about it. The Fresno EDC was not willing to sit back and accept the unacceptable. We rallied our partners to respond with a customized training program.

We answered the call when we heard that Fresno County was short truck drivers. With our training partnerships, we are turning out some of the best-trained truck drivers in the industry, and those drivers are being hired by companies all over the Valley. We also partnered with Bitwise Industries, who train DSS clients to become web developers and coders, some of whom had never done anything more technical in their jobs than sending an email. Our vision of “Silicon Valley South” is not just a dream but is becoming a reality. It is an equally bold move to form a partnership with municipalities, businesses, and educational leaders in our area and say we are going to put the entire Central Valley forward as a candidate for the Global Cities Initiative. It was a year ago we joined regions like Seattle, Los Angeles, Houston, and Chicago at the table with the foremost global economics think-tank, the Brookings Institution, to draft an export plan covering Stockton to Bakersfield. Right now, our region’s agriculture industry alone produces $6 billion in annual export revenue. That is one-third of all our regional export. The time is right for Fresno County and the Central Valley to become the leader in International Trade, and the EDC is bold enough to help make that happen. Now it’s your turn as our business leaders, our home-grown innovators, our visionaries to step up. Be bold enough to expand your business in a new direction or more aggressively in its specialty. Join us in shaping Fresno County to be the best place in the country for businesses to expand, grow, and prosper.

- BE BOLD believe in your community, your company, and your future.

4

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

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5


FURNITURE | ARCHITECTURAL WALLS | TECHNOLOGY

INTRODUCING THE EDC CHAIRMAN OF THE BOARD WALT PLACHTA

Tangram Interiors collaborates with clients as a creative partner to create and manage interior environments that enhance the client’s brand and culture through the expert integration of technology, furniture, architectural walls, and service solutions.

Be Bold!

That is the theme of this 13th Annual Real Estate Forecast. In lean years, we’ve told you that our time is coming and what signs of economic renewal to look for and use in planning your business strategies. We told you when we began to see growth and a turnaround in our economy. And now we tell you the growth is here, the jobs are here, and focus is here, and it is time to be bold.

EDC partnership at the Geekwise Academy are just the most visible signs of this exciting growth. In 2014, royalties for the export of information technology from Fresno County generated more than $67 million, making it the #11 export for this area. Those are our visionaries growing their businesses and our economy with the power of their ideas.

With vision, preparation, and timing, we have the power to harness the momentum that is moving Fresno County’s economy forward even as we speak.

Preparation is as vital as that vision, though. The magnitude of business growth and job development we are talking about now requires preparation, or those opportunities go to waste. This is the reason our community and partners have pulled together to begin preparing new development space and today’s workforce for tomorrow’s jobs right here in Fresno County. Why are we now seeing the completion of the first new on-spec industrial development since the recession hit? Because our local developers see the growth in the Fresno economy, and they are prepared.

Vision is key. The ability to take ‘what is’ and visualize ‘what could be’ is a trademark of the Bold. How about the vision to see a gleaming high-speed rail line running the length of our state? And to begin building that state-of-the-art system, the first in the nation, in Fresno. The entire world knows where Fresno is now. Foreign business and investment are anxious to see what we are building and how they can get involved. They are interested in our plan for the Heavy Maintenance Facility and where the industrial space is going to be for their companies to build around it.

And finally, timing can be the most important thing. Having a great vision and being well prepared are only beneficial if you are at the right place at the right time. Lucky for us, Fresno County is in a great place for the Bold right now. Interest, enthusiasm, and readiness to invest in Fresno County growth is at an all-time high and the EDC is a great partner for the Bold. Whether it’s our ability to provide the latest demographic information and industry growth trends, to connect you with that perfect business partner, or to just act as a sounding board, the EDC is here to help in ways that will surprise you.

How about the vision to see a new Silicon Valley taking shape in the Central Valley? The new generation of technological innovators has chosen to remain or return home to build their vision of a technology hub right here in Downtown Fresno. The cooperative workspace at Bitwise Industries and the web development training being offered through the DSS/

Some might say that the boldest moves in Fresno County have already been taken – I disagree. We are just hitting our stride. There are times in life to exercise greater caution, to let someone else take the risks, to let someone else blaze the trail, when the odds are not in your favor. This is not one of those times.

When we say bold, we don’t mean reckless. None of us can afford to be reckless with our businesses, our careers, or the future of our families. But at a time when the world is watching what we’re doing—what we’re building right here in Fresno County—can you afford not to be bold?

This is a time to be bold. 677 W Palmdon Dr. #101 Fresno, CA 93704 • www.tangraminteriors.com Kellie Reed, General Manager • 559.761.1380 • kreed@tangraminteriors.com 6

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

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7


READY WORK!

READY HIRE?

www.ready2hire.org Look to us for

JOB READY EMPLOYEES Think of us as your one-stop source for job-ready applicants. Job candidates go through an array of education and training courses to gain the skills needed for success in the job market. If you are Ready to Hire, we have people Ready to Work!

• • • •

Recruitment Labor Subsidies Hiring Credits Retention Services

FINANCIAL BENEFITS When you use our employer services, you can: • Reduce advertising costs for new hires • Reduce staff costs/time needed for hiring • Acquire monthly labor subsidies for up to 6 months

ing our Moderators c u d o r t n I MATT RENNEY

C A L I F O R N I A R E A LT Y C A P I TA L , I N C .

DOUG CORDS

C O M M E R C I A L R E TA I L A S S O C I AT E S

The outlook for real estate growth in Fresno County for all sectors remains positive. Real estate continues to grow in both its appeal and sentiment. Since the end of the recession, we have seen developer optimism spread, not by way of frenzy but with a healthy, sustainable approach to new development. We are observing a new pattern of vacancy rates, that of stabilization at or slightly above current levels, and a pattern of rental rates holding their own and doing at least as well as inflation. That said, over the last six months there has been some turmoil in the lending markets, which has stalled some transactions. Most financiers have viewed it as the market taking a breather as financing terms are changing: CMBS executions are down but banks and life companies remain liquid and active, albeit at a lower debt level.

• Potentially higher property rental rates

• Election year politics and the real estate market’s response

• Strengthening multi-family housing demand

• Lower commodity prices/global slowdown and

• The Millennial age cohort and its impact on

the real estate market – senior housing, assisted living, market-rate apartments, etc.

Call: 559.464.5550

Some key themes we’re observing in Fresno County on a micro level and throughout Calfornia from a macro standpoint are heightened investor confidence, strengthening property performance, steady equity flows, and the return of competitive debt markets. Investors will continue to seek value.

Also, look for some of the following as 2016 unfolds:

•High growth potential in the industrial sector

• Have access to job retention services to help reduce turnover

From a general market perspective, there are still plenty of reasons for real estate investors to be optimistic. Treasury yields are currently near historic lows, interest rate spreads for most lenders remain at favorable levels, and overall underwriting guidelines remain generally favorable. Employment and housing sectors have improved in the past year as Fresno County unemployment dipped to 10.5%, down from 11.8% twelve months prior and from nearly 17% in late 2010.

its effect on Central Valley farmers

• Potential rate increases by the Federal Reserve in June and September

Thank you for your attendance this evening and for your support of the EDC and the local real estate market. The Essential Connection

8

Fresno County Economic Development Corporation in a collaborative partnership with the Department of Social Services Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

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9


10 Yr UST

US INVESTMENT TRANSACTION

TS

6.00%

$700

7.96%

Cap Rate Average since 2001 is 7.47%

TODAY

6.65%

7.00%

billions

V

N

IN

TME

RECESSION PEAK

8.00%

VOLUME SINCE 2006 ($2.5M +)

ES

Average Cap Rate (Office, Industrial, Retail)

9.00%

L

CO

US AVERAGE CAP RATE COMPARED TO 10 YR UST

IA

M

M E RC

6.71%

202 bps

Average Spread is

474 bps

391 bps

5.00% 457 bps

$600

4.00%

4.63%

$573 $534

$500

3.00%

10 Yr UST Average since 2001 is 3.56%

3.22%

2.00% $400

$427

$424 $362

0.00%

$300

'06

$298 $200 $175 $146

millions

$68 $0

'06

Senior Vice President

'07

'08

2015

'10

'11

'09

$450 '10

'11

'12

'13

'14

'15

'12

'13

Previous 4 Transactions Accounted for 55% of Total Sales Volume

$400

'14

'15

$250

$281

$197

$150 $70

$0

Fig Garden Village $106,100,000 | 5.80% Cap Rate Largest Transaction for Fresno County

ON

RG

E ST T R A NSA

'08

'09

'10

B Demand for Properties in Secondary/ Tertiary Markets Will Continue

$83 '11

'12

'13

'14

'15

United States

B Great Time to Sell, but Who Knows How Long This Will Be

Fresno | Multi-Tenant

9.50%

B Sell Properties That Do Not Fit Long Term Plans

8.97%

9.00%

BUYERS

8.50% 7.79%

8.00% 7.96%

7.50%

6.93%

6.50%

River View Shopping Center $26,600,000 | 8.60% Cap Rate

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

86 bps

6.79%

7.00%

Via Montana Shopping Center $31,000,000 | 6.67% Cap Rate

B 2016 Should Continue to be Strong Investment Market, but Not the Same as 2015 – More Caution

SELLERS

SINCE 2006 (OFFICE, INDUSTRIAL, RETAIL)

C

El Paseo Shopping Center $70,000,000 | 5.65% Cap Rate 5th Largest Transaction for Fresno County

'07

$44

BCurrent Debt Market Trend Will Play Integral Role in 2016 Investment Activity

US AND FRESNO AVERAGE CAP RATES

TI

TI

O

C TRANSA

TH

E ST

5

N

'06

RG

$233

$133

$50

LA

INVESTMENT MARKET FORECAST

$277

$239

$200

NOTABLE TRANSACTIONS

2016

$427

$311

$100

LA

10

'09

$350

Brett Visintainer leads the Visintainer Investment Group, a division of Newmark Grubb Pearson Commercial. Brett joined the firm in 2007 where he began specializing in leasing and selling office buildings to occupants/users of property. After gaining a solid base in the tenant and occupant market – understanding the perspective of the user he transitioned his focus to work solely on investment properties.

Brett grew up in San Ramon, CA before moving to Fresno in 2000 to attend California State University, Fresno. He was the kicker for the Bulldogs from 2000 – 2004 and then with the Dallas Cowboys in 2005 – 2006 where he had an injury which resulted in career ending back surgery. Brett is married to wife Andrea and has one son, Beau.

'08

INVESTMENT VOLUME IN FRESNO COUNTY SINCE 2006 ($1M+)

$300

Brett’s vision of creating a top tier investment team has come together by obtaining his CCIM designation and attracting a world class team of real estate industry experts. His team has been involved in over $2 billion of investment real estate transactions and over 70 years of experience. They provide investors with property valuations, financial analysis, acquisition advisory, predisposition advisory, leasing strategies to maximize value, and project repositioning.

'07

$234

$100

Brett Visintainer, CCIM

2.14%

1.00%

B Interest Rates are Still Historically Low, but They Have Already Been Creeping Up From 2015 B Value Added Opportunities – Real Estate Fundamentals Continue to Strengthen

6.71%

6.65%

6.00% '06

'07

'08

'09

'10

'11

'12

'13

'14

'15

2016 Real Estate Forecast

BE BOLD!

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IDEN

data source: FreddieMac.com

14.00

AL TI

RES

30 YEAR FIXED RATE MORTGAGE

12.43

12.00

30 Yr FRM Rates Historical Average

10.00 8.00 Patrick Prince is the 2016 President of the Fresno Association of REALTORS®. After graduating from CSU Fresno in 1998 with a bachelor’s degree in business administration, Prince spent 7 years as the Multiple Listing Service (MLS) Operations Manager for the Fresno Association of REALTORS®. In 2006, he obtained his real estate license and joined Westland Realty, which has since become Keller Williams Westland Realty. As a REALTOR®/Broker Associate and owner with Keller Williams, Patrick has served on their Associate Leadership Council. Patrick is currently serving on the Board of Directors for both the Fresno and the California Association of REALTORS®, and is a National Association of REALTORS® delegate.

6.00

2015

2013

2014

2011

2012

2010

2009

2007

2008

2005

2006

2003

2004

2001

2002

1999

2000

1997

1998

1995

1996

1993

1994

1992

1983

1984

1981

1982

1979

1980

1977

1978

1975

1976

1973

0.00

1974

2.00

Year

FRESNO MEDIAN PRICE data source: FresnoMLS

224,000

206,750

150,000 2012

208,323

142,000

$150,000

2011

$200,000

155,000

$250,000

149,000

200,000

275,000

289,000

$300,000

2006

$350,000

280,000

Fresno Median Price

Patrick has also been serving on the Habitat for Humanity Fresno County Board of Directors since 2008, and was President of the Board in 2011-2012. More recently, he has received the coveted Core Volunteer (“blue shirt”) designation at the local build site. Patrick enjoys spending time with his wife Amy and their two sons, Mason and Logan.

President

3.85

1972

Interest Rate %

4.00

2005

Patrick Prince

7.4

$100,000

2015

2014

2013

2010

2009

UNITS SOLD/SELLER COMPOSITION Units Sold/Seller Composition

2008

$0

2007

$50,000

Year

data source:

9000

SINGLE FAMILY CONSTRUCTION STARTS

8000

data source:

Units Sold

7000 6000

7,000

5000

6,000

4000 3000 2000

REO

5,000

Short Sales

4,000

Traditional

3,000

2015

2014

2013

2012

2011

2010

2009

2008

2007

1,000

2006

0 2005

1000

2,000

Year

12

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

Single Family Construction Starts

5,876 4,101

3,736 2,352

2,258

2,310

2,027 923

2,076 1,409

1,349

0 2005

2006

Fresno County

2007

2008

2009

2010

2011

2012

2013

2014

2015

Fresno County

2016 Real Estate Forecast

BE BOLD!

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Your Local Sports Leader! Home of Fresno State Athletic’s, 49er & Raider Football, Giants & A’s Baseball, Laker Basketball, Sharks Hockey and local High School Sports… Listen to Fresno’s Paul Loeffer, Ryan Williams, Coach Q, Cameron Worell, Christian Cooper, and Tony D as they keep you up to date on your favorite past times!

Shopping & Mixed Use Center Located on N. Palm Ave & Nees Visit: https://www.parkplacefresno.com For Retail and Office Leasing Enquiries Call: 559.266.8000

OVER

19 YEARS

• Industrial RE Valuation • Real Estate Leasing

OF REAL ESTATE EXPERIENCE

• Title • Research • Public Speaking • Site Design • Purchase & Sale Analysis • Marketing • Contract Negotiation

NICHOLAS J. AUDINO, SIOR naudino@pearsonrealty.com

14

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

• Real Asset Repositioning

559.284.2396

2016 Real Estate Forecast

BRE License #01231272

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ABOUT THE MARKET:

E

O

F FI C

Fresno Vacancy 2015

FRESNO VACANCY 2015 12.0%

11.0%

10.6%

10.5%

10.5%

10.6%

10.0%

Tony Cortopassi Senior Associate

9.0%

Q1

Q2

Q3

The state of commercial real estate in 2015 can be summarized as ‘steady progress.’ There has been nothing earthshattering about the recovery, but it has attained a slow momentum of sorts. After a dip in vacancy in 2013-14, the market remained steady in 2015 with vacancy starting the year at 10.6% and remaining at that number at the close of 2015. In the stronger submarkets of the class A properties, we are actually seeing the start of construction and deliveries of new office product, which can be expected to continue in 2016. The market Should continue to recover at this pace for 2016 and, due to the lack of construction and development over the

last several years, we can even anticipate to have a lack of product by the end of 2016. These conditions might force some tenants to backfill much-needed vacant submarkets. Adding to the office market dynamics is the purchase of office-zoned land by Assisted Living, Skilled Nursing, and other related medical users servicing this ever-growing sector. These purchases have helped office land values that had seen a lack of activity for several years. With a continued positive overall national sentiment and the major metros of San Francisco and Los Angeles improving, we anticipate a carryover effect for the Central Valley for 2016 with the market set to improve.

CONSTRUCTION CONCESSIONS RENTAL RATE PROPERTY VALUES

VACANCY COMPARISON

7.1%

10.4%

During his career, he has completed more than 2 million square feet of assignments and has consistently been a high producer and reputable broker. He joined Cushman & Wakefield / Pacific in April 2013 to help grow the international brand throughout the Central Valley after previously working seven years for CBRE in Fresno and two years for Mohr Partners in Walnut Creek.

10.6%

11.0%

His work at Mohr Partners and CBRE emphasized tenant and landlord representation, including ground up development. With a working knowledge of lease transactions and practical experience working with corporate accounts, Tony has helped guide his clients through numerous successful transactions.

12.6%

6%

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

VACANCY

Q4

Tony Cortopassi entered commercial real estate in 2004 after graduating from Saint Mary’s College of California with a degree in Business and Economics. Over the last twelve years he has specialized in office sales, leasing, and land development, focusing on maximizing client value.

16

2016 OUTLOOK

7%

8%

9%

10%

11%

12%

13%

2016 Real Estate Forecast

BE BOLD!

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The Place to be in Downtown Fresno Civic Center Square is a pedestrian friendly, commercial and retail community that blends the history of downtown Fresno with a clear vision for the future.

906 N Street, Suite 200

18

Fresno, CA 93721

559-485-4700

www.civiccentersquare.com

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

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FRESNO AND SURROUNDING SUBMARKETS Total Industrial Market Statistics, Year End 2015

ABOUT THE MARKET:

New construction has led to a drastic increase in industrial land sales. Many in-fill parcels that had been on the market for years sold in 2015. Industrial Park Land saw sales as high as $5.00 psf, and sales in 2016 are setting prices even higher.

Senior Vice President

Mr. Audino has continued his top performance status at Newmark Grubb Pearson Commercial ranking in the “Top Three Producers” overall in 2014 and 2015. He was also honored by his peers in 2014 receiving the “Peer Award” in recognition of maintaining the highest standards of personal integrity, superior work ethic and individual professionalism.

20

5,586,594 sf

Vacancy Percentage

6.2%

YTD Net Absorption

779,168 sf

Deliveries

772,426 sf

Quoted Rental Rates

$0.36 psf

ABSORPTION AND DELIVERIES

ASKING RENT AND VACANCY

The market has averaged just over 900,000 sf of positive absorption over the last three years. Positive absorption with no construction activity in 2013 and 2014 substantially decreased vacancy. If the trend continues, developers may struggle to keep pace with demand.

A steady decrease in vacancy since 2010 (net decrease of 28%) has caused rental rates to increase (net change of 35%).

2) Construction-related demand from companies building HSR (gaining momentum in recent months) 3) Possibility of Fresno being selected for the HSR heavy maintenance facility 4) Large Logistics Users—with a trend toward internet fulfilment centers

The market should remain strong for the balance of 2016, but could see a leveling effect compared to the steep growth in 2013 and 2014.

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

$0.30

7.5%

$0.20

5.0%

$0.10

2.5%

0.0% 2011

-200

2012

2013

2014

2015 Rates

2015 4Q

Vacancy Rate 2015 3Q

1) Relocation of businesses along the HSR alignment (steady over the last few years)

10.0%

2010

Thousands

-400

BIG PROJECTS GROUP

$0.40

$0.00

0

2015 2Q

3) General distribution, service industrial, construction, and manufacturing

200

2015 1Q

2) Expansion in agriculture and value-added food requirements

12.5%

400

2014 4Q

1) Organic business growth due to consecutive years of economic recovery

Absorption

$0.50

600

2014 2Q

BACKBONE GROUP

Completions

2014 1Q

Mr. Audino began his career at CBRE in 1997 after graduating from California State University Fresno with a Bachelor of Science Degree in Real Estate and Land Use Economics. During Mr. Audino's tenure at CBRE, he maintained the status of being one of the top producers from 2003 to 2013, and was honored as the "Top Producer" for six consecutive years.

Total Vacant

800

Growth in demand and market velocity has come from two primary groups: Mr. Audino has been a Senior Vice President at Newmark Grubb Pearson Commercial since 2013 where he specializes in sales, leasing, acquisition, disposition and ground-up development of industrial property throughout the Central San Joaquin Valley.

90,528,327 sf

2013 4Q

Nicholas J. Audino, SIOR

Net absorption has averaged around 900,000 square feet per year over the last three years, which coupled with a significant drop in vacancy was enough

for the development community to go back to work. Speculative builders were busy in 2015 adding nearly 1,000,000 sf of new space. Several of these buildings saw significant leasing activity during construction with some becoming fully leased prior to completion.

3,484

Total RBA

2014 3Q

The Fresno industrial market in 2015 has continued gaining the momentum seen in 2013 and 2014 and is now completely out of the recession. Vacancy, lease rates, property values, construction activity, and land values are at or near all-time bests. The traditional industrial market drivers in agriculture, ag spin off, construction, and distribution are strong and predicted to remain steady this year.

Number of Buildings

2013 3Q

IN D

IAL

USTR

SALES ANALYSIS BY BUILDING SIZE Based on Industrial Bldg Sales From Oct. 2014-Sept. 2015 Sales prices for smaller buildings under 100,000 sf are back to pre-recession levels. Sales for larger buildings were low for the time period surveyed, due to several large Class C Buildings selling. Sales prices for larger Class A Buildings are currently trading near $50 sf.

Building Size Less than 25,000 SF 25K-99K SF 100K-249K SF Greater than 250K SF

# 35 12 7 1

RBA 425,502 505,474 937,481 486,937

$ Volume $32,031,000 $51,246,600 $19,653,000 $9,500,000.00

Price/SF $75.28 $101.38 $20.96 $19.51 2016 Real Estate Forecast

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21


Because ENERGY SAVED is MONEY SAVED

The Fresno Energy Watch is a local government partnership administered by the Fresno County Economic Development Corporation, the City of Fresno, and Pacific Gas and Electric Company (PG&E) to support an innovative program of no-cost energy assessments, business rebates, and financing options for energy efficiency solutions.

POWER LOAN:

The Fresno Energy Watch has designed this retrofit financing tool addressing the needs of small and medium-sized business owners to finance the cost of energy efficiency upgrades at zero interest.

BUSINESS ENERGY TUNE-UP:

This low-cost analysis of business energy use helps owners understand how to: increase building occupancy and/or marketability through energy improvements, qualify for rebates and incentives, reduce energy-related risks, lessen impacts of future mandates, document reductions in greenhouse gas emissions, and meet other benchmarking requirements.

THE HARD-TO-REACH INCENTIVE:

The Hard-to-Reach incentive structure provides an additional incentive for energy efficiency upgrades undertaken by businesses in underserved regions, such as Fresno County. Qualifying is easy, so call today.

The Esse

ntial Con

nection

For more information call

559.476.2503 or visit our website

FresnoEnergyWatch.com THIS PROGRAM IS FUNDED BY CALIFORNIA UTILITY CUSTOMERS AND ADMINISTERED BY PG&E UNDER THE AUSPICES OF THE CALIFORNIA PUBLIC UTILITIES COMMISSION. “PG&E” REFERS TO PACIFIC GAS AND ELECTRIC COMPANY, A SUBSIDIARY OF PG&E CORPORATION. ©2013 PACIFIC GAS AND ELECTRIC COMPANY. ALL RIGHTS RESERVED.

22

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

BE BOLD!

23


R

L

ETAI

ABOUT THE MARKET: As the retail industry continues to evolve, merchants who want to thrive in the coming years need to be more forwardthinking. After all, one of the keys to succeeding in the future is to anticipate it. Of course, predicting the future is easier said than done, we realize there’s no crystal ball that can give you a fool-proof glimpse of what’s ahead, but one thing for sure is that today’s shopper is busier than ever and wants things faster and easier with less commitment.

THE 5 PILLARS OF SUCCESS

E-COMMERCE SALES, % OF TOTAL RETAIL SALES Source: Retail Indicators Branch, U.S. Census Bureau

100000

8

90000

7

80000 6 70000 5

60000 50000

4

Retailers need to adopt or refine the following: 40000

1. Be Customer-Centric 2. Be Creative 3. Be Focused on Customer Experience 4. Continuously Improve & Optimize 5. Keep Up With Technology…Your customer is!

Nick Rendino

3

30000 2 20000 1

10000

0

0

Vice President, Retail Services Nick Rendino is licensed in the State of California as a Real Estate Agent and has over 12 years of California Real Estate experience. Nick specializes in Retail Landlord and Tenant Leasing representation as well as Retail Investment Properties and Real Estate Acquisition and Disposition.

Total E-Commerce ($ millions)

U.S. RETAIL SALES,

% of Total Retail Sales

VACANCY & RENT PAST 10 QUARTERS

LAST 12 MONTHS % CHANGE, MONTH OVER MONTH

Source: CoStar

Vacancy & Rent Past 10 Quarters

Source: www.tradingeconomic.com | U.S. Census Bureau $13.40

8.8%

2.0%

8.6%

$13.20

8.4% $13.00

1.5%

24

$12.80

8.0% 7.8%

$12.60

1.0%

7.6% $12.40

7.4%

$12.20

Averate Rental Rate

-0.5%

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Q1

2015 Q4

2015 Q3

2015 Q2

2015 Q1

2014 Q4

2014 Q3

2014 Q2

7.2% 2014 Q1

0.5%

0.0%

A 4th generation Central Valley native, born and raised here in Fresno, Nick is a 1985 graduate of California State University, Fresno with a Bachelor of Science Degree in Industrial Arts and Advertising Design. Outside interests include Golf, Surfing, Sailing and Snow Skiing.

8.2%

2013 Q4

Nick began his commercial real estate career with CBRE back in 2007 and joined the Retail Properties and Investment team of Colliers International Fresno in March of 2013. Nick has successfully represented Retail Tenants, Landlords and developers in Real Estate site evaluation and selection, disposition of existing assets, securing properties for expansion, development and Leasing. Nick has had the great pleasure of being the exclusive valley representative for the Walmart Realty Asset Disposition Team, Sprint Telecommunications Corporation and the United States Postal Service. Nick has been an active, 9 year member of ICSC, International Council of Shopping Centers.

Vacancy Rate

The only certainty we have is knowing that change is inevitable. Keep a constant open mind to change, be excited to embrace the challenges and rewards that lie ahead, and never forget to “Keep The Pedal To The Metal!”

2016 Real Estate Forecast

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25


Raising the standards where people live, work and play

MancoAbbott.com 559.435.1756

Global Local

Partnerships Resources

EDC Membership Matters to my business CONTACT THE EDC TODAY!

to explore how partnering with us can positively affect your business

The Essential Connection

26

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

559-476-2500 • www.fresnoedc.com 2016 Real Estate Forecast

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27


AGR

U RE

ULT C I

2015 AGRICULTURE IN REVIEW

ALMOND GROWER PRICE/LB. Almond Grower Price/lb.

COMMODITY PRICES

$5.00 $4.50

ALMONDS

$4.00 $3.50 $3.00

• •

Grower prices drop 60% over last 9 months Export shipments decline CARRY-OVER INCREASES 7% 1/31/2016

Cal Std (23/25 size)

$2.50

Non Pareil (20/22 size)

$2.00 $1.50

11% 1/31/2015

$1.00 May-14

WALNUTS

Aug-14

Nov-14

Feb-15

May-15

Aug-15

Nov-15

Feb-16

CENTRAL SAN JOAQUIN VALLEY FARM LAND VALUES

(AVG. PRICE WITH GOOD SOIL, WATER, AND CROP PRODUCTION HISTORY)

Stanley J. Kjar, Jr.

Vice President, Agriculture Properties

• • • •

45,000

Walnut prices to the grower have dropped over 60% during last 18 months Crop increases to 600,000+ tons in 2015 Carry-over nearly triples in 3 years China was biggest buyer, now biggest competitor

40,000 35,000

PISTACHIO

ALMONDS

GRAPES

TREE FRUIT

CROPLAND

30,000 25,000

Stanley served on the Dealer Board of Directors for the Massey Ferguson division of AGCO Corporation, based in Duluth, GA. He graduated from CSU Fresno in 1999 with a Bachelors Degree in Agricultural Business, and also holds a California Department of Real Estate Broker’s license. In addition to his extensive Agricultural Business knowledge, Stanley has also directly farmed grapes, almonds and row crops in Kings and Fresno Counties. He specializes in the representation of clients selling and acquisitioning farm properties in the greater Fresno, Madera, Merced, Kings, Tulare and Kern county areas. Since joining Pearson in 2010 Stanley has been involved in numerous Ag-real estate transactions totaling more than $140 Million and 6,400 acres.

28

PISTACHIOS

20,000 15,000

• • •

Pistachio prices to the grower have remained high due to low crop production for 2014 and 2015 • Low Chill Hours • Poor Bloom 2016 crop expected to double 2015 crop Larger inventories expected with new orchards coming into maturity Exports slow

Price Per Acre

Stanley has been a member of the Pearson Realty Farm Department since November 2010. Prior to Pearson he served as Vice President and Operations Manager for Kings Equipment Company, Inc., his family owned farm equipment business. Stanley helped grow the business during his 13 year management from a single store operation to three locations in Hanford, Selma, and Madera. Kings Equipment Company was consistently in the top 25 dealers for Massey Ferguson in North America for over 37 years, and awarded top volume dealer for 6 of their last 10 years in operation.

10,000 5,000 2005

2006

2007

SNOW PACK LEVELS GRAPES

(AS OF 4/01/2016)

2008

2009

2010

2011

2012

2013

2014

2015

Northern Sierra - 95% of Normal

Central Sierra - 88% of Normal WINE • Continued low demand for central valley varietals • Long term contracts hard to find RAISINS • Exports decrease • 2015 grower price recently negotiated • Additional acreage removed

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

Southern Sierra - 73% of Normal

2016 Real Estate Forecast

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29


High-Speed Rail

Connecting and Transforming California

KEYNOTE THOMAS G. RICHARDS, PRESIDENT & CEO T H E P E N S TA R G R O U P

Thomas G. Richards graduated from the University of California, Santa Barbara, after having completed a tour of duty in Vietnam as a U.S. Army officer. For three years during and after college, Tom was employed as a staff accountant and senior auditor by a major Santa Barbara firm. He left to provide accounting and management services for a large locally based real estate firm. During that tenure, he formed joint venture and limited partnership investments in multi-residential and condominium developments. Since 1976, he has lived in Fresno, California. Initially developing with others and building single-family subdivisions in a series of limited partnerships, Tom subsequently formed The Penstar Group in 1981. Its real estate activities continue today and have included the development and construction of single-family subdivisions, condominiums, multi-family rental housing, senior rental housing, general and medical office complexes, skilled nursing facilities, industrial warehouse and manufacturing buildings, and retail shopping centers. Penstar’s geographic operations have extended from the Inland Empire east of Los Angeles through Sacramento and in the Seattle, Washington area.

High-Speed Rail will better connect the state and improve our regions in the following ways:

Increase Mobility

Needed Alternative

Improve mobility in the face of growth

Provide a more convenient and productive way to

– with our population estimated to reach 50 million by 2050.

travel and new opportunities to collaborate on business.

Better Air Quality

Job Growth

Improve air quality – by shifting people

Stimulate job growth across the state – now with

from cars and planes to clean trains.

construction and long-term with maintenance and operations.

facebook.com/CaliforniaHighSpeedRail

30

@cahsra

youtube.com/CAHighSpeedRail

Tom is a licensed California general contractor and real estate broker. He has been active in civic interests, among which have been the Chancellor’s Advisory Council at the University of California, the Business Advisory Council for Fresno’s Public Television, the Building Industry Association, and the Chambers of Commerce in Fresno and Clovis, California. He is a past Director of the 21st District Agricultural Association, The Big Fresno Fair, and a past Chair of Fresno Unified School District’s Measure K Oversight Committee. He currently serves as Chair of the Board for Premier Valley Bank, Board Member of the Fresno County Workforce Investment Board, Vice Chair of the Fresno Chaffee Zoo Board, Chair of the City and County of Fresno’s 10 Year Plan to End Chronic Homelessness, Chair of Fresno First Steps Home, Vice Chair of Fresno’s Property-based Business Improvement District, Member of the Valley Coalition for U.C. Merced Medical School, and Vice Chair of the CA High-Speed Rail Authority.

@cahsra

www.hsr.ca.gov | (916) 324-1541 | info@hsr.ca.gov

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

In recent years, Penstar’s development focus has been divided between downtown Fresno’s revitalization and redevelopment efforts and a major master planned community in southeast Fresno. In his capacity as managing partner of M.L. Street Properties, Richards with Penstar directed the development, construction, and now management of Fresno’s first new privately owned high-rise Class A office building in over thirty years, the TOWER at Convention Center Court. Other downtown projects include administrative and medical office buildings for Fresno’s Regional Community Medical Center campus; Richards participation as Managing Member of Historic Fresno Chinatown, LLC, a 185-acre redevelopment project of Fresno’s Chinatown; the development of the TOWER 2 at Convention Center Court, a 370-foot high rise tower; and the development of a Fresno Convention Center hotel. In southeast Fresno, with Ed Kashian, Richards is co-managing partner of Fancher Creek, a 485-acre master planned community including a regional shopping center, Village Center, 107-acre business park, 800 single-family homes, and recreational and civic amenities.

2016 Real Estate Forecast

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31


The 4 Biggest Catastrophes in Corporate Event Planning And How To Avoid Them

How to Pull off the Perfect Event Without the Stress. Call us today for a free assessment of your upcoming event (a $500.00 value) www.msieventproductions.com

559-346-1020

32

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

Serving Fresno County for Over 110 years!

The Fresno Association of REALTORS速 is a Professional REALTOR速 Trade Association with over 2,500 REALTORS速 here to serve you! A local REALTOR速 is the key to opening the door of your dreams!

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ECONOMIC DEVELOPMENT TEAM Business Expansion, Attraction, & Retention

IT’S AN EXCITING TIME TO DO BUSINESS IN FRESNO COUNTY.

ECONOMIC DEVELOPMENT TEAM Business Expansion, Attraction, & Retention

Our businesses continue to grow, our workforce is ready and improving its skills, our Cities and

TOP 10 PRIVATE EMPLOYERS – FRESNO COUNTY

County continue to promote business friendly

Y

F

C

OU

O

FRESNO COUNTY ECONOMIC PROFILE

S RE N

NT

DIVERSITY Fresno County is a geographically and culturally diverse county encompassing nearly 6,000 square miles. With 15 incorporated cities, ranging from a few thousand in population to the 5th largest city in the state, the county is able to suit a wide variety of industries.

FRESNO COUNTY POPULATION

34

CONSIDER THE ADVANTAGES OF FRESNO COUNTY

Cities

2010

2015

% Change

Clovis

95,631

104,339

9.10%

Coalinga

18,087

16,529

-8.60%

Firebaugh

7,549

7,779

3.00%

Fowler

5,570

5,957

6.90%

Fresno

494,665

520,159

5.20%

Huron

6,754

6,817

0.90%

Kerman

13,544

14,314

5.70%

Kingsburg

11,382

11,711

2.90%

Mendota

11,014

11,211

1.80%

Orange Cove

9,078

9,358

3.10%

Parlier

14,494

15,095

4.10%

Reedley

24,194

25,488

5.10%

Sanger

24,270

25,128

3.50%

San Joaquin

4,001

4,041

1.00%

Selma

23,219

23,912

3.00%

Unincorporated

166,998

170,459

2.10%

County Total

930,450

972,297

4.50%

• • • • • • • • • • •

Centered in the world’s 7th largest economy Home to California’s 5th largest city Located between California’s major markets 38+ million consumers within reach by next-day ground delivery Ranked as nation’s healthiest housing market by Freddie Mac Most cost-effective, accessible region in California Business friendly environment Local business incentives available Skilled, productive workforce

• • • • • • • •

Data & Research Site Selection & Real Estate Business Incentives Financing Resources Permitting & Regulations Utility Analysis Fresno Energy Watch Workforce Resources

SERVICES

CONTACT US: FRESNO COUNTY EDC WWW.FRESNOEDC.COM

559.476.2500

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

initiatives and incentives, our economic growth

Company

Industry

Employees

has been recognized nationally, and our housing

Community Medical Centers

Healthcare

8,100+

market has been rated as the healthiest housing

Saint Agnes Medical Center

Healthcare

2,547

market in the United States by Freddie Mac.

Fowler Packing

Food Processing

2,500

This didn’t happen by chance. It is a result of

Kaiser Permanente

Healthcare

2,250

years of coordinating efforts and strengthening

Alorica, Inc.

Back-Office

2,100

partnerships between local stakeholders, both

Schneider Electric

Manufacturing

1,300

public and private. The Fresno County EDC, as the

Cargill Meat Solutions

Food Processing

1,300

Essential Connection for business in the region,

Wawona Frozen Foods

Food Processing

1,200

remains dedicated to serving our local companies

Foster Farms

Food Processing

1,100

and new enterprises interested in becoming part

Lyons Magnus

Food Processing

800

of our cohesive community.

AVERAGE ASKING ANNUAL LEASE RATES (PER SQUARE FOOT PER YEAR) Fresno County

Los Angeles County

San Jose Santa Clara County

Industrial

$4.32

$9.02

$18.33

Office

$17.21

$31.60

$38.05

CONTACT US: FRESNO COUNTY EDC WWW.FRESNOEDC.COM

559.476.2500

AVERAGE OCCUPATIONAL ANNUAL WAGE (Q1 2014) Occupations

Fresno County

Los Angeles County

San Jose Santa Clara County

Management

$96,362

$124,724

$157,147

Business and Financial Operations

$63,123

$76,906

$91,243

Computer and Mathematical

$69,940

$88,940

$117,227

Architecture and Engineering

$85,905

$92,267

$109,326

Education, Training, and Library

$54,572

$58,872

$58,305

Healthcare Practitioners and Technical

$85,955

$89,840

$108,395

Sales and Related

$34,247

$40,778

$54,820

Office and Administrative

$35,235

$38,387

$45,414

Construction

$45,193

$55,181

$59,340

Production

$31,012

$32,760

$40,099

Transportation and Material Moving

$29,837

$34,532

$35,640

2016 Real Estate Forecast

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35


ECONOMIC DEVELOPMENT TEAM

GROUND PACKAGE DELIVERY

CONTACT US:

ECONOMIC DEVELOPMENT TEAM

FRESNO COUNTY EDC WWW.FRESNOEDC.COM

TRANSIT DAYS FROM FRESNO

Business Expansion, Attraction, & Retention

Business Expansion, Attraction, & Retention

559.476.2500

LOCATION, LOCATION, LOCATION Fresno is located in the only area where the nation’s and region’s largest parcel carriers – UPS, FedEx, and OnTrac – can guarantee next-day standard ground shipping service throughout California, and in certain cases, beyond.

HIRING INCENTIVES

LOCAL INCENTIVES:

 

NEW EMPLOYMENT OPPORTUNITIES (NEO) PROGRAM:

PG&E ECONOMIC DEVELOPMENT RATE:

RAIL Fresno County is served by three Class-1 railroads – BNSF, Union

Six-month, short-term wage reimbursement incentive program available to qualified employers hiring qualifying Fresno County residents.

Pacific, and San Joaquin Valley Railroad – that provide connections to the state’s major deep water ports. Intermodal services are also available throughout Fresno County.

• •

 

HIGHWAYS Five major freeways connect Fresno County to the rest of

100% reimbursement for first 3 months 75% reimbursement for following 3 months

NEW EMPLOYMENT CREDIT (NEC):

California. I-5, CA-99, and CA-41 are high-capacity freeways designed to carry high volumes of truck traffic and serve as the north-south transportation arteries. CA-180 and CA-168 serve as the County’s main east-west transportation corridors. Additionally, Fresno County’s Measure C funds and state transportation dollars have been designated for future highway and road expansion projects to keep up with growth.

California hiring tax credit available to qualified employers hiring qualifying employees. • Employer must be located with-in a Designated Geographic Area • Credit is 35% of wages paid between 150% - 350% of minimum wage

 

WORK OPPORTUNITY TAX CREDIT (WOTC):

FRESNO-YOSEMITE INTERNATIONAL AIRPORT In 2015,

over 1.4 million passengers traveled through Fresno-Yosemite International, the fastest growing airport in the western United States. With 13 non-stop destinations served by 8 major airlines, Fresno-Yosemite can also connect travelers to 74 international destinations on 5 continents with 1-stop service.

Federal tax credit available for hiring qualifying individuals from certain target groups. Maximum tax credit ranges from $1,200 to $9,600 per qualifying hire.

EMPLOYMENT TRAINING PANEL (ETP):

State reimbursement program for costs of customized training of new or existing employees. Upgrade employee skills by creating a customized training program through approved training agencies.

TOP 5 PROJECTED GROWTH OCCUPATIONS BY OCCUPATIONAL CLASSIFICATION - FRESNO MSA (2012 - 2022) Rank

SOC Code

Occupational Title

% Growth

1

39-0000

Personal Care & Svs Occupations

38.00%

2

17-0000

Architecture & Engineering Occupations

35.40%

3

47-0000

Construction & Extraction Occupations

32.20%

4

31-0000

Healthcare Support Occupations

26.00%

5

15-0000

Computer & Mathematical Occupations

24.80%

TOP 5 PROJECTED GROWTH INDUSTRIES BY EMPLOYMENT - FRESNO MSA (2012 - 2022)

36

Rank

Industry

Qualifying businesses in Fresno County will receive a 30% Enhanced Rate reduction for 5 years on their monthly electricity costs

FRESNO COUNTY FEE DEFERRAL PROGRAM:

County of Fresno incentive available to qualifying job-producing projects. Projects may defer 75% the County’s Plan Review/Building fees, with a maximum of $50,000 deferment per project. • •

Fees repaid 25% annually for three years Project must create at least 20 jobs, either directly or indirectly

CITY OF CLOVIS – CORE AREA FEE REDUCTION:

The City of Clovis will reduce development impact fees for in-fill development in the core area south of Sierra Avenue and west of Locan Avenue. Fees can be reduced by as much as 70%.

CITY OF FOWLER – REVOLVING LOAN FUND:

Qualifying businesses may borrow up to $100,000 at a 3% fixed-interest rate from the City of Fowler’s Revolving Loan Fund. Available for new or local business development projects, loans are provided as “gap financing” in conjunction with the business’ own primary financing.  

CITY OF FRESNO – ECONOMIC EXPANSION ACT:

Commercial and industrial development fee waiver program and other City incentives available for job-generating projects.  

STATE INCENTIVES

California Competes Credit Manufacturing Equipment Sales & Use Tax Exemption CAEATFA Sales & Use Tax Exclusion Recycling Market Development Zone (RMDZ) Research and Development (R&D) Credit

% Growth

1

Construction

37.70%

2

Educational Svs, Health Care, & Social Assistance

31.90%

3

Professional & Business Svs

31.40%

4

Leisure & Hospitality

22.10%

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

Incentive available through PG&E in partnership with the State of California. Available throughout Fresno County, the program is designed for businesses with high energy loads (at least 200kW per month) that are considering locating within California and have other out-of-state options, California businesses that are considering relocating to other states, or businesses in danger of closing their existing operations entirely.

FEDERAL INCENTIVES:

Foreign Trade Zone (FTZ) HUBZone (Historically Underutilized Business Zone) New Market Tax Credit (NMTC)

CITY OF KINGSBURG – COMMERCIAL/INDUSTRIAL DEVELOPMENT INCENTIVE PROGRAM:

The City of Kingsburg will provide the following incentives to new industrial, commercial, and retail projects: • • •  

25% reduction of all City Development Impact Fees 50% rebate of the City’s share of sales taxes paid for 3 years 50% rebate of the City’s share of real property taxes paid for 3 years

CITY OF SANGER – INDUSTRIAL DEVELOPMENT INCENTIVE PROGRAM: The City of Sanger will provide the following incentives to new industrial projects: • •

Wavier of Sewer/Water impact fees and reduced additional impact fees based on business investment 50% rebate of the City’s share of sales taxes paid for a 1-year period for new businesses occupying a vacant building

2016 Real Estate Forecast

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37


The Fresno EDC’s High-Speed Rail Business Support Program provides empathetic, knowledgeable, and effective service to local businesses, property owners, and farms impacted by the California High-Speed Rail project. This program serves as one of the largest business retention efforts in our region. Over the last three years, our team has incorporated an all-hands-on-deck approach, aligning our clients with community partners such as financial institutions, real estate firms, non-profit organizations, regulatory agencies, and senior officials with High-Speed Rail. We work to ensure client concerns are addressed, they’re given a fair shake, and that their business is positioned for long-term stability and growth.

HIGH-SPEED

Today, the attention of the state, nation and world is focused on Fresno County as more than 100 miles of construction is underway to build the nation’s first high-speed rail project. With the newly released 2016 Draft Business Plan, Fresno serves as the epicenter for high-speed rail development in the United States, linking the Silicon Valley and Central Valley by the year 2024.

In doing so, it will bring construction jobs, permanent employment in operations and related industries, and once-in-a-generation opportunities for communities to establish themselves as centers for this burgeoning twenty-first century industry. Already, this $68 billion project has brought money and employment to hard-pressed economies in the Valley. Sixty-two local companies are among the certified small businesses awarded millions of dollars in contracts. Hundreds of new fulltime jobs have been created. These are tangible benefits felt here at home as dollars in our pockets, spent at local businesses, generating local tax revenue for improvements to Valley communities. Once HSR construction is complete, the jobs shift to permanent, highwage employment in maintenance and operations. These are the jobs and careers that change the future not just for workers but for whole

families. More jobs will emerge in industries supporting rail and with businesses that use the system for greater access to labor and operational sites. Fresno County, through the efforts of the private-public partnership Fresno Works, is also poised in 2016 to secure its bid for the Heavy Maintenance Facility and its 1,500 skilled, high-wage jobs. From its position in Downtown Fresno, this state-of-the-art facility will become a center for transportation and economic development with a land-use plan crafted to foster commercial, industrial, and housing opportunities worthy of a vibrant metropolitan hub. Fresno County’s civic, education, and business leaders have readied plans to assure our community takes full advantage of this opportunity. Today, training programs prepare residents to work on rail construction. Tomorrow, those programs will educate people to build the trains, run them, and maintain them. The train manufacturer that obtains the contract to provide California’s first high-speed rail cars will also be in the best position to provide cars for the first cross-country American high-speed rail system, and that company—whether it is American, Asian, or European—will require an American workforce. The Fresno EDC is poised to help ensure that it is a Fresno County workforce, with the best training programs and the most experience with the system.

“It’s been a huge help having the Fresno EDC’s assistance during this process. They not only found me a great replacement property but informed me of the many great programs available to me for loans and tax incentives. The EDC truly had my best interest at hand. This whole process would have been a whole lot harder without them.” Al Perez, Owner of Main Event Graphics

38

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

RAIL

BUSINESS SUPPORT PROGRAM

REAL IMPACTS FELT HERE AT HOME: • High-Speed Rail spans 35 miles in Fresno County • Estimated 3,000 jobs impacted along HSR corridor • Over 440 property owners being impacted • Nearly 60% of impacted parcels in Fresno County have been acquired CHANNELING CHALLENGE INTO OPPORTUNITY: • Assisted over 315 business and property owners • Assisted with 85 business relocations • An estimated 900+ jobs retained • 96% business retention rate in Fresno County • Over 30% of clients have expanded their building footprint • Helped secure over $600,000 in unconventional financing

“The Fresno EDC had a clear understanding of the issues and facilitated the process with the CHSRA. They demonstrated a clear understanding of the economic impact of what we were going through and provided assistance throughout the process. Business professionals helping their community makes the EDC an exemplary organization! ” Jon Marthedal, Owner of Marthedal Farms

INDUSTRIES SERVED Industrial

35%

Office Professional

13%

Agriculture

12%

Auto/Auto Retail

11%

Retail

10%

Investment

8%

Food/Restaurant

5%

Hospitality

5%

DO YOU

HAVE A CLIENT BEING IMPACTED OR A COMMERCIAL REAL ESTATE LISTING TO PROVIDE? Please contact our department today

CONTACT US: FRESNO COUNTY EDC WWW.FRESNOEDC.COM

559.476.2500

2016 Real Estate Forecast

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39


CITY OF

CLOVIS

COUNTY OF

FRESNO OPEN

FOR BUSINESS

The City of Clovis is a forward thinking community of just over 100,000. We are extremely proud of our top rated school system, public safety services, and land use policies. In order to leverage what Clovis has to offer, the City has invested in three distinct business parks that are ready for growth.

BUSINESS PARKS ANNOUNCING FRESNO COUNTY’S RAPID RESPONSE AND BUILDING PLAN CHECK/PERMIT FEE DEFERRAL PROGRAMS

DO I QUALIFY?

The following requirements must be met in order to participate in either or both programs: Participation must be pre-approved for qualifying projects, specifically: construction of a new business or expansion of an existing business resulting in the creation of at least 20 new full-time jobs either directly by applicant or indirectly in support businesses; The job creation identified must be realized within two years after building occupancy is granted.

DEPARTMENT OF PUBLIC WORKS AND PLANNING DEVELOPMENT SERVICES DIVISION

ARE THERE OTHER REQUIREMENTS I SHOULD BE AWARE OF? Yes, In order to participate in the Building Plan Check/Permit Fee Deferral Program, there are program provisions/requirements that are listed below: The maximum amount of the deferral is $50,000 per project; A fee deferral payment agreement must be executed between the applicant/property owner and the County; The terms of the applicant/property owner fee deferral payment agreement must include the deferral provisions including, in the event fees are unpaid, a lien against the property recorded for the delinquent amount until the fees are paid.

If you are interested in pursuing these programs, please call (559) 600-4497 and ask to speak to William M. Kettler, Manager, Development Services Division.

40

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

Are Ready

Citywide a 30% development fee reduction for office and industrial uses

Fast-track, 21-day planning & permit approval process

Clovis Industrial Park (PEACH AND PONTIAC WAY)

The City has partnered with Diversified Development Group on the last two vacant parcels in the Park. This park is home to major global manufacturers such as Pelco/Schneider Electric, NIACC-AVITECH, and KW Automotive, North America. With a strong partnership with DDG, a proven developer/builder, and reduced fees in this portion of Clovis, the City is ready to help you grow.

Clovis Research and Technology Park

(TEMPERANCE AND ALLUVIAL AVENUES NEAR FREEWAY 168) The Clovis Research and Technology Park is uniquely situated to serve the medical industry, professional services, and advanced manufacturing. With Clovis Community Hospital rapidly growing, a clustering of professional services including engineers, a private business incubator, a materials labs and a plastic manufacturing company locating in the Park, this is an opportunity for a variety of industries to expand and reach the world with new ideas from Clovis. The park consists of three phases encompassing 180 acres. Infrastructure was installed through a grant from the United States Economic Development Administration. This has allowed top quality infrastructure to be made available to businesses at a reduced cost. The City currently owns some parcels that are ready for development and has close connections with other property owners to allow for an easy acquisition process.

Dry Creek Industrial Park

(MINNEWAWA AND HERNDON AVENUES NEAR FREEWAY 168) The Dry Creek Industrial Park Phase 1 is nearly built out with a variety of businesses and is now ready to add 44 lots as part of Phase 2. The City has been able to obtain funds to install infrastructure to reduce development costs. This Park offers a prime location, near Freeway 168 with all that Clovis and the region has to offer. Lots are available from .43 acres to 7 acres with infrastructure being completed in the summer of 2016.

Contact: ANDREW HAUSSLER Community & Economic Development Director (559) 324-2095 www.cityofclovis.com andrewh@cityofclovis.com 2016 Real Estate Forecast

BE BOLD!

41


CITY OF FOWLER The City of Fowler is a highly progressive community with small town charm that envisions smart solutions and facilitates economic development. The City is dedicated to supporting the business community and aiding in growth and advancement. This is an ideal location for new business, as Fowler is centrally located five miles south of Fresno with rail access and adjacent to Highway 99, Manning Avenue, and Golden State Boulevard. There is plenty of land for business expansion opportunities in its large industrial corridor!

WHY CHOOSE FOWLER?

Ready to work labor force

The City promotes a business friendly environment

Local hiring incentives

5 Miles south of the Clovis - Fresno Metro area

Recycling Market Development Zone

Highway 99 adjacent

Foreign Trade Zone

LAND AVAILABILITY

CITY OF FOWLER REVOLVING LOAN FUND • Qualifying businesses may borrow up to $100,000 at a 3% fixed-interest rate • Loans available for new or local business development projects • Business loans are provided as “gap financing” in conjunction with the business’ own primary financing FOWLER PEDIATRIC CARE MEDICAL PLAZA • Partnership between Adventist Health and Valley Children’s Healthcare • Planned 16-acre state-of-the-art pediatric care facility • $10 million project located adjacent to Highway 99

Firebaugh has over 800 acres of available land designated for industrial development and nearly 50 acres available for commercial development.

TAX INCENTIVES To encourage economic development, Firebaugh participates in a number of business tax incentive programs in Fresno County including: • Foreign Trade Zone • Federal Research and Development Tax Credit • New Market Tax Credit • Rural City Revolving Loan Fund • Recycling Market Development Zone

THREE CROWNS INDUSTRIAL PARK, PHASE III • 14 acres, build-to-suit • Highway 99 Frontage • Building sizes from 5,000 SF to 200,000 SF • Lots sizes range from 0.79 acres to 2.28 acres • Light Industrial zoning

Contact: DAVID L. ELIAS City Manager delias@ci.fowler.ca.us (559) 834-3113 ext 101 www.fowlercity.org

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CITY OF FIREBAUGH

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

A HARDWORKING FAMILY TOWN After experiencing a slowdown in business development during the economic depression of the last several years, Firebaugh is showing signs of rebuilding. As one would expect, agricultural-related businesses have led the way in Firebaugh’s recovery. The city’s largest business, Toma Tek, continues to thrive and grow in Firebaugh. Toma Tek is one of the largest tomato processors in the Central Valley and a very important regional business. Another regionally significant business in Firebaugh is the Seasholtz’s family company, Sweetwood Farm, Inc. doing business as Red Rooster Sales. In 2012, the company processed nearly 45,000 tons of fresh tomatoes, which means they packed and shipped 2,656,000 boxes. In addition, Red Rooster operates a ripening, cold storage, and shipping facility at its Firebaugh site. On an annual basis between packing, shipping sales, tomato production, and harvesting, the company maintains a nearly $6 million payroll and spends $1 million with local businesses.

Signs of commercial/retail growth are also appearing in town. An 8,240-square-foot Family Dollar Store has opened, along with Auto Zone, in 2013. The Family Dollar is expected to fill an important retail need in the city and boost sales tax. Most exciting for the city and the northwestern region of Fresno County, West Hills Community College District is making MAJOR INVESTMENTS in the Firebaugh Community College Center and has been finalizing plans for a campus expansion. This excellent education resource for the community is scheduled to begin construction in 2016. West Hill Community College, North District, Firebaugh Center has spent the past six years renovating their present campus. This includes purchasing new furniture, replacing carpets, building new men’s and women’s restrooms, installing a surveillance camera system, and establishing a new video camera system to teach videoconference courses. Included in the Firebaugh Center’s Facility Master Plan is a 40,000-square-foot two-story main campus building. Future improvements include a joint College-Fresno County Library, additional science labs, faculty offices, and a multi-purpose room. It is anticipated that these facilities will be completed within the next five years.

Contact: BEN GALLEGOS City Manager (559) 659-5907 www.ci.firebaugh.ca.us citymanager@ci.firebaugh.ca.us

2016 Real Estate Forecast

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CITY OF KERMAN

CITY OF FRESNO

FOCUSED ON THE FUTURE

COMMITTED TO Your Success

Investment in critical public infrastructure, a business-friendly environment, and easy access to major transportation networks position your business to thrive in Kerman. Home to several medium and large companies, Kerman is an ideal location for your business.

Service, incentives, and flexibility are the touchstones for business expansion and attraction for the City of Fresno in 2016 and beyond. A variety of programs and incentives proves Fresno stands ready to help your business achieve success.

COME VISIT KERMAN AND SEE WHAT WE HAVE TO OFFER.

WHY CHOOSE KERMAN? • Available water and wastewater capacity to accommodate new and growing businesses • “Shovel-ready” industrial property • Job placement and training programs • Available finished residential lots ready to build on • Expanding retail development opportunities • Easy access to State Route 145 and 180, Highway 99, and Interstate 5 • 15-minute drive to Fresno

Contact: John Kunkel City Manager 559-846-9387 cityofkerman.net

BUSINESS-FRIENDLY FRESNO STREAMLINES YOUR DEVELOPMENT The Business-Friendly Fresno (BFF) initiative streamlines and enhances customer service for development projects. The BFF targets site plan review and concurrent permit submittal for thirty-day turn-around, to get businesses up and running on budget and on time.

THE IDIFER PROGRAM REDUCES OR ELIMINATES YOUR IMPACT FEES The Industrial Development Impact Fee Elimination/Reduction (iDIFER) Program allows the City Manager to eliminate or reduce all city-wide impact fees for qualifying industrial projects. A typical 155,000sf industrial building can save up to $176,000 with this program.

THE ENHANCED ECONOMIC DEVELOPMENT RATE ELECTRIC RATE LOWERS YOUR OPERATING COSTS Fresno, in collaboration with PG&E, won final approval from the California Public Utilities Commission for the Enhanced Economic Development Electrical Rate. This program allows qualified new or expanding businesses to receive up to a 30% reduction on their industrial energy rates.

BUSINESS CONCIERGE SERVICE WALKS YOU THROUGH THE CITY PROCESS The City of Fresno is committed to your business success. The Office of Economic Development provides concierge services for business expansion and attraction. The City is ready to work with businesses to provide tailored, targeted, and flexible incentives for business expansion and attraction. For expanding or growing your business in California, Fresno’s focus on industrial economic development means the sum total is greater than the parts. Fresno is ready for you!

Contact: Larry Westerlund Director of Economic Development Larry.Westerlund@fresno.gov (559) 621-8355 www.fresno.gov

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Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

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CITY OF KINGSBURG

CITY OF COALINGA

KINGSBURG’S INCENTIVES PAYING OFF Once again, Kingsburg is having an extraordinary year in economic development. We attribute our success to our City’s and community’s enhanced sense of enthusiasm of our ‘välkommen’ attitude when it comes to new businesses locating in Central California’s Swedish Village!

KINGSBURG BUSINESS PARK Looking for great freeway visibility? Kingsburg offers a 40-acre shovel-ready business park adjacent to Highway 99 with traffic counts of nearly 60,000 vehicles per day. Zoning within the park ranges from light industrial to highway commercial. The combination of Kingsburg’s low crime rate, skilled workforce, and business-friendly City Council makes the Kingsburg Business Park the ideal location for businesses looking to expand or relocate. For information on available sites and contact information, visit www.KingsburgBusinessPark.com.

KINGSBURG ECONOMIC INCENTIVE PROGRAM Kingsburg offers 5 new incentives designed to promote new business development within the city:

·

25% reduction in the City’s Capital Facilities Fees

·

50% rebate of the City’s portion of real estate property taxes for three years

·

50% rebate of the City’s portion of sales taxes for three years

·

Additional reduction or elimination of City development fees for qualifying developments

·

Streamlined 21-day administrative approval process for permitting

SUCCESSES COMMERCIAL · $33.6 million in new commercial capital investment · Opening of 16 new businesses over last 12 months · Creation of over 588 jobs over the past 24 months

RESIDENTIAL · Mario Villas: The 46-unit mixed-use project located in downtown held its grand opening in November 2015. The development was 100% occupied on opening day.

· Addition of 500 new single-family homes in Contact: Jolene Polyack City of Kingsburg Economic Development Coordinator (559) 284-2421 www.cityofkingsburg-ca.gov

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various stages of development

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

Nestled in Pleasant Valley at the eastern edge of California’s Coastal Mountain Range, surrounded by hills and ranches, Coalinga is ten miles west of Interstate 5 and sixty-five miles southwest of Fresno, California’s fifth largest city. As a full-service city with a high quality of life, low crime rates, quality housing and providing a wide range of services to approximately 18,000 citizens. Coalinga is extremely proud to be the home of West Hills Community College District, an excellent school system, a regional medical center, and a park and recreation district.

JUNIPER RIDGE INDUSTRIAL PARK

• • • • •

30 acre Shovel-Ready industrial park near Interstate 5 Heavy Industrial zoning Parcel sizes range from 1.52 acres to 4.52 acres Land is city-owned and for sale starting at $30,000/acre An additional 30 acres available throughout the City of Coalinga for industrial and commercial development

CITY INFRASTRUCTURE:

• • • • •

12 million gallons/day surface water treatment plant 16 million gallons of water storage capacity New 3 million gallon reservoir funded and to be constructed Class 3 ISO Rating 1.34 million gallon/day wastewater capacity and poised for future growth

COALINGA PARTICIPATES IN A NUMBER OF BUSINESS TAX INCENTIVE PROGRAMS IN FRESNO COUNTY INCLUDING:

• • • • • • •

Rural City Revolving Loan Fund New Employment Credit California Competes Credit Manufacturing Equipment Sales/Use Tax Exemption Research & Development Tax Credit New Market Tax Credit Recycling Market Development Zone

WEST HILLS COLLEGE DISTRICT Based in Coalinga, West Hills College serves a post-secondary student population of nearly 9,000 and is home to West Hills’ Farm of the Future. In 2015, West Hills College was among a select group of Valley colleges to be awarded a California Careers Pathway Trust designed to blend academic and career technical education into a new program to prepare California students for college and careers in the 21st Century.

2016 Real Estate Forecast

Contact: Marissa Trejo City Manager (559) 935-1533 www.coalinga.com

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“WORKING TOGETHER FOR A

Sustainable Community & Improved Quality of Life”

CITY OF PARLIER PARLIER INDUSTRIAL PARK A master planned 297-acre industrial park located on Manning Avenue and Industrial Drive, Phase 1 of the available shovel-ready sites are filling up and welcoming several new businesses. The Parlier Industrial Park currently has several prime parcels available for businesses seeking a Central California location with room to expand.

CITY OF ORANGE COVE

• •

ORANGE COVE ROLLS OUT THE RED CARPET FOR INVESTORS • • • • •

Streamlined building & planning permitting process Incentives to increase feasibility Available Shovel-Ready Industrial Land Local hiring incentives Ready to work labor force

Contact: Samuel A. Escobar, City Manager (559) 626-4488 samescobar@cityoforangecove.com www.cityoforangecove.com

INDUSTRIAL LAND The City of Orange Cove has 14.55 acres of Shovel-Ready Industrial Land complete with all the amenities to expedite the construction of a new facility; for uses such as manufacturing, automotive, machine shops, storage, and food processing, etc.

COMMERCIAL LAND: 18.61 acres of vacant Commercial land available for uses such as restaurants, offices, drug stores, and retail outlets. Total Trade Area Population = 26,154 people Total Trade Area Households = 7,068 The City has a Strong and Supportive governing body striving to create jobs, attract long-term investment and actively collaborating to ensure that potential investors and/or entrepreneurs are discovered, educated, financed, and supported throughout their business lifecycle.

MANNING AVENUE GROWTH Manning Avenue, which is a main corridor for the city, has been the focus for several commercial developments within recent years. One commercial development, at the northwest corner of Manning and Newmark Avenues, is approximately 50% complete. There are also available sites on the southeast and southwest corners of Manning and Academy Avenue which are zoned for commercial development.

KEARNEY AGRICULTURAL RESEARCH AND EXTENSION CENTER Kearney Agricultural Research and Extension Center is the University of California’s largest off-campus agricultural research facility. The site is located fifteen miles southeast of Fresno in the city of Parlier, in one of the most productive agricultural areas in the world. The center includes 330 acres, where it grows over forty different crops. Kearney is the only one of nine Research and Extension Centers with certified organic land set aside for research.

Maxco is harnessing the sun to produce sustainable packaging by building a 1 Megawatt Photovoltaic Solar System to power the packaging facility in Parlier. This system offsets over 50 percent of Maxco’s electricity usage with clean, renewable energy from the sun.

HOUSING GROWTH

DOWNTOWN REVITALIZATION

Parlier has seen a growth in single-family and multi-family development:

Monte Vista Development has completed and sold two phases of their single family home development and is preparing to begin its third phase.

The Parlier Avila Apartments Phase II has constructed a 24-unit project located just north of City Hall. The project consists of three and four-bedroom affordable apartments. Parlier Avila II, a tax credit project, also received additional funds from a HOME grant obtained through the City.

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

COMMITMENT TO SUSTAINABILITY SunWest Fruit Company, utilizing solar energy, proactive land-use practices, and a companywide recycling program to reduce waste, has found that sustainability aligns with good business practices and helps ensure its place in the future of agriculture. SunWest Fruit Co. installed a 3 MW Photovoltaic Solar System reducing the facility’s electrical demands by 72 percent.

The City continues to actively network with investors to form public and private partnerships to reach the goals of the community in all stages of economic development and job creation. We have a strong workforce to attract and retain businesses. In 2009, Orange Cove established the Orange Cove Police Department, making public safety a local community priority to foster a positive climate for existing businesses and future economic growth.

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Mosquito Abatement District purchased approximately eight acres in the Parlier Industrial Park where the District will be locating their corporate headquarters. Diamond Weld Industries Inc. has purchased four acres in the Industrial Park to expand their business. Diamond Weld has been in Fresno County for twenty years and produces stainless steel tanks, including tanks for wine makers. The company plans to hire as many as twenty welders and machine workers.

Parlier’s City officials have turned their attention to beautifying downtown with the aim of drawing more foot traffic. The “Old Town Parlier” themed makeover started with the sidewalk improvements on J Street and included old-fashioned street lamps, benches, and special signage. The City is pursuing grant funding that will extend these revitalization efforts to storefront façade improvements.

Contact: Israel Lara Jr., City Manager (559) 646-3545 Ext 232 ilara@parlier.ca.us www.parlier.ca.us

New Single Family Housing Developments include the upcoming Monterey Housing and South Avila projects, a mix of one to two-story homes.

2016 Real Estate Forecast

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AN OASIS

Poised for Growth

CITY OF REEDLEY

BUILDING THE FUTURE!

Development Impact Fee Incentives promoting 90% downtown occupancy

Committed to sustaining economic policies conducive to innovation & growth

Recipient of Government Finance Officers Association’s Distinguished Budget Presentation Award by meeting the highest principles of governmental budgeting

Mixed-Use Development Ordinance creating housing opportunities through policy

The Residential Estate District (RE) Zone District compliments an advantageous lifestyle setting avoiding premature conversion of agricultural land

Permit efficiency makes Reedley a community building leader

Rail spur lines in industrial areas

ENVIRONMENTAL STEWARDSHIP

Poised with the ideal combination of opportunity and smart decisions that lead to lasting growth! The City of Reedley understands the unique needs of building a city by promoting development, entitlement timelines, and processes, resulting in consistent standards for doing business. The City has a supportive governing body driven by a desire to create an educated, structural, and sound business atmosphere in a safe community. We’re looking to the future by making environmentally conscious decisions, expediting regulatory processes, and preparing for emerging business and housing trends.

Supportive of strategic growth and sustainable infrastructure projects

Central Valley Transportation Center providing energy conscious fueling stations

Home of 1st in the nation SST-e all electric type A school bus system

Efficiency in lighting system upgrades in all City facilities generating renewable energy

Sports Park Master Plan includes passive service draining approaches through vegetative bioswales

30-year utility master plan includes utility systems and Water Conservation Program (WSP)

Reedley Parkway pedestrian trails, biking community, and conservation landscape options

TAKE A LOOK AT WHAT WE’VE BEEN UP TO!

Expedited solar energy permit issuance

Established leadership commitment to ICLEI’s 5 milestones for climate mitigation

Through Reedley’s recent general plan update and implementation, over the past three years, City staff has processed approximately twenty-five entitlement applications, which resulted in new building construction valuations totaling $3.8 million for single family homes, $12.8 million for multiple family and mixed use projects, and $7.5 million for commercial buildings. Healthcare contractors invested $2.9 million in new construction and existing commercial facilities to fund new health centers in Reedley. Since 2013, businesses have invested $3.4 million in improvements to existing commercial facilities, and Reedley citizens have invested $2.6 million in additions/alterations to existing homes and $6.4 million in rooftop solar systems.

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PUBLIC SAFETY •

Lowest crime rates in surrounding cities and one of the lowest in the Central Valley

Community Policing Program

EDUCATED WORKFORCE •

Access to excelling workforce produced by Reedley College

Award-winning public and private schools

Contact: Nicole Zieba City Manager (559) 637-4200 nicole.zieba@reedley.ca.gov

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

CITY OF SAN JOAQUIN The City of San Joaquin continues its focus on quality of life, safety, and future economic opportunities for its residents. The City has adopted a responsible approach to development and sustainability by enacting several resource conservation methods as well as ensuring the community’s overall safety with its broad, citywide security surveillance system. With an expanded surveillance system accessible by the Fresno County Sheriff’s Department, the city continues to have the lowest crime rate in Fresno County. Residents and businesses alike enjoy the small town atmosphere and camaraderie found in the oasis that is the city of San Joaquin.

Contact: Mayor Julia Hernandez juliah@cityofsanjoaquin.org  559-693-4311 www.cityofsanjoaquin.org

CITYWIDE GROWTH To further strengthen the city’s character, the current General Plan includes community design standards addressing new construction and a regeneration of downtown. Creating open and inviting public spaces that encourage the continued growth and further enhancement of the downtown area are important aspects for economic, community, and individual development. With the help of its residents, in collaboration with neighboring communities, and with the input and support of local businesses, San Joaquin has prepared itself to become a key player in the Central Valley’s economic and civic development.

EMPHASIS ON COMMUNITY In addition to its focus on growth in the business sector, the City will continue to construct improvements to the local landscape including: greenscape, walking trails, city park updates, street improvements, installation of water meters, and a community garden. The updated General Plan addresses the use of vacant parcels to accommodate additional parks, stores, and housing. All aspects of city governance are geared to maintain a family-oriented community that possesses genuine small town charm – making San Joaquin an oasis for its residents and its businesses alike. Looking beyond city borders, the City Council and staff recognize the need to work in unison with nearby communities for mutual benefit. Under the leadership and vision of San Joaquin’s elected officials, professional staff, and civic-minded citizens, the community stands ready to grow and prosper.

2016 Real Estate Forecast

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CITY OF SANGER

SANGER FOCUSES ON

business and community success! Located just minutes east of the Clovis - Fresno Metropolitan area on CA-180, the City was presented with the statewide Award of Excellence in City-Business Relations by the League of California Cities in 2015.

RESIDENTIAL DEVELOPMENT More than 400 homes sold in Sanger in 2015, spurring the demand for new residential construction. • Lennar Homes has broken ground on a 100-lot subdivision on the city’s northwest border • A new 35-acre residential subdivision was annexed to the city’s southern border in 2015

One Putt Broadcasting 312,000+ Weekly Listeners on 7 locally owned radio stations!

SANGER BUSINESS INCENTIVES • 21-day streamlined permitting process • Sanger’s Industrial Incentives Program offers new industry the opportunity to completely

• • •

eliminate development fees in exchange for new employment and increased local property values o Will reduce or eliminate development impact fees for development projects created on industrial zoned sites o Development impact fees may also be deferred and financed for a period of up to ten years Building Permit Fee Waiver Program: No building permit fee charged for any construction in the downtown business district Sales Tax Rebate Program: City rebates 50% of local sales tax each year for three years for any retail business that occupies a building that has been vacant for six months or longer Sales Tax Holidays: Two weekends each year the City waives the payment of local sales tax

KINGS RIVER TECHNOLOGY PARK • 56-acre shovel-ready industrial park • Option for custom created parcels • Heavy Industrial zoning • Rail available • Close proximity to California Highway 180

Contact: Dan Spears Director, Community Development Department (559) 876-6300 ext 1520 http://www.ci.sanger.ca.us

BUSINESS EXPANSION HIGHLIGHTS PITMAN FARMS - $65,000,000 expansion, which includes: o Three-story, 200,000 square foot, concrete tilt-up, food processing facility, with new state-of-the-art equipment o 1.2 megawatt solar project, installed above hundreds of employee parking spaces at the company’s new facility o Currently employs more than 1,000. As a start-up business in 2002 Pitman Farms began with forty employees

OFFICIAL HOME OF FRESNO STATE ATHLETICS

CALIFORNIA TRUSFRAME Manufacturer of pre-engineered roof trusses and wall units plans to double the size of its manufacturing facility with its recent acquisition of 10.85 acres adjacent to their existing site • Began with twenty employees in 2012, now employs 130 and growing

LOOKING FORWARD • 12,000 sq. ft. of new commercial construction will result in the addition of •

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Be Local, Buy Local

Bank of the Sierra, Carl’s Jr., Wing Stop, Deli Delicious, and other retail businesses In April, Sanger will begin extending high-speed internet cable to expanded industrial zones in the southeast quadrant of the city

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

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And we help them We help people make money.

keep it.

Clients depend on us for solid advice and

• Asset Allocation Analysis

innovative strategies to make the most of

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their real estate investments. We provide a wide array of accounting and consulting services to help you make the right business choices. Robert Wiebe Hinton Frankour Hambalek Whether buying Kevin or selling property,

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• •Buy/Sell Decisions Buy/Sell Decisions • •Asset Allocation Analysis Entity Selection • Tax Deferred Exchanges • Property Tax Consulting • Entity Selection Common Area Accounting • •Property Tax Consulting • •Common Area Accounting Acquisition and Disposition of Real Estate • Acquisition and Disposition of Real Estate

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7090 N. Marks Avenue, Suite 104 | Fresno, California 93711 7090 N. Marks Avenue, Suite 104 | Fresno, California 93711

whhcpas.com

559 -431-8334

559.431.8334

Real Estate | Construction Real Estate | Construction | Agriculture | Agriculture

The Fresno Housing Authority works to create vibrant communities, build quality affordable housing, and support the success of approximately 50,000 residents throughout Fresno who reside in Housing Authorityowned complexes or who receive Housing Choice Vouchers.

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Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

2016 Real Estate Forecast

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BOARD of DIRECTORS

TOGETHER, WE ARE

“The Essential Connection” CHAIR

Secretary / City of Fresno Rep. Bruce Rudd City Manager, City of Fresno

Designated Director Andy Haussler Deputy City Manager, City of Clovis

At-Large Director Nicholas Audino Newmark Grubb Pearson Commercial

At-Large Director Bobby Fena Colliers International, Inc. At-Large Director Leland Parnagian Fowler Packing Company, Inc.

NT

As Investor Relations, I am committed to learning more about you, your business goals, and what you value most,

DIRECTORS

to ensure your business is connected to every resource

The role of Investor Relations is to increase awareness of the EDC’s many services and resources while building relationships with businesses across Fresno County and its 15 cities. Our purpose is to listen to your needs and take action, utilizing our extensive partner referral network and connecting you, our Investors, as we work together to promote sustainable economic development throughout Fresno County. In this unique and rapidly evolving business environment, it is important to understand what resources or connections are available to you.

Richard Aaron Dowling Aaron, Inc.

Derek W. Hayashi Granville Homes, Inc.

Supervisor Henry Perea Fresno County Board of Supervisors

Nathan Ahle Greater Fresno Area Chamber of Commerce

Debbie Hemker Kaiser Permanente

Kenneth J. Price Baker Manock & Jensen, PC

Alan Hofmann Fresno Metropolitan Flood Control District

Preston Prince Fresno Housing Authority

It is an honor to be part of a dedicated team that is determined to build on these accomplishments and create new opportunities now and for generations to come.

Paul Quiring Quiring General LLC

Thank you for being a part of our Investor Family and participating actively in what makes Fresno County the premier place to do business!

Brian Angus Fresno County Economic Opportunities Commission Raj Beasla Pacific Gas and Electric

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OU

Y

Designated Director Jean Rousseau County Administrative Officer, County of Fresno

S RE N

C

Immediate Past Chair Al Solis Sol Development Associates, LLC

Treasurer Robert L. Wiebe Wiebe Hinton Hambalek, LLP

At- Large Director John Brelsford Diversified Development Group

O

Vice Chair Ed Dunkel Precision Civil Engineering, Inc.

F

Walt Plachta CEI Engineering Associates, Inc.

Debbie Hunsaker Alert-O-Lite, Inc.

Councilman Steve Brandau Fresno City Council

Blake Konczal Fresno Regional Workforce Investment Board

Florence T. Dunn California Health Sciences University

Kurt Madden Fresno Unified School District

David Elias Five Cities EDA Designee

Doug Marmolejo JP Morgan Chase

in order to thrive. ~ Karena Riley

With over 30 years of accomplishments, the Fresno County EDC has had the opportunity to serve thousands of businesses, attract new companies, and help create jobs, which all positively impact Fresno County.

Gary D. Quisenberry Central Valley Community Bank CONTACT:

Kellie Reed Tangram Interiors Susan Ryan Fresno County Federal Credit Union Tom Zimmerman CORE Business Interiors

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

KARENA RILEY INVESTOR &

BE BOLD!

PUBLIC RELATIONS MANAGER

559.476.2505

KRILEY@FRESNOEDC.COM

2016 Real Estate Forecast

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INVESTOR Community

INVESTOR Community

PL ATINUM $10,0 0 0 +

B RONZ E $1,500 + ARCADIS

Don Pickett & Associates, Inc.

Premier Valley Bank

ATAS Insurance Services

Dumont Printing

RGS Energy

Baker Peterson & Franklin

Lars Andersen & Associates, Inc.

Sebastian

JPMorgan Chase & Co.

BioFiltro USA, Inc.

Media Solutions, Inc.

Valley Children’s Healthcare

Community Medical Centers

Borga Steel

Mid Valley Disposal

Wawona Frozen Foods

The Business Journal

One-Putt Broadcasting

Civic Center Square, Inc.

Valley Wide Beverage Company

Fresno Regional Workforce Investment Board

Wells Fargo Bank, N.A.

California State University, Fresno Pacific Gas & Electric Company

G O L D $5 ,000 + Alert-O-Lite, Inc.

Fowler Packing Company, Inc.

Precision Civil Engineering, Inc.

Baker, Manock, & Jensen

Quiring General LLC

California Health Sciences University

Fresno Economic Opportunities Commission

CEI Engineering Associates, Inc.

Fresno Housing Authority

Central Valley Community Bank

Fresno Metropolitan Flood Control District

Colliers International, Inc. Comcast CORE Business Interiors Diversified Development Group Dowling Aaron

Granville Homes Fresno Chamber of Commerce John R. Lawson Rock & Oil, Inc. Kaiser Permanente Newmark Grubb Pearson Commercial

RaboBank, N.A.

COP P ER $750 +

Saint Agnes Medical Center

Asian Real Estate Association of America Central Valley Chapter

Central Valley New Markets Tax Credit Fund LLC

Johanson Transportation Service

Sol Development & Associates, LLC

AT&T

Derco Foods

Tangram Interiors

Bank of the Sierra

Dibuduo & DeFendis Insurance Group

Van G Logistics

Bitwise Industries, Inc.

Downtown Fresno Partnership

Wiebe Hinton Hambalek, LLP

BMY Construction Group, Inc.

Electric Motor Shop, Inc.

Fresno Unified School District

Brooks Ransom Associates

Fresno Association of REALTORS®

Fresno County Federal Credit Union

California Realty Capital, Inc.

Fresno First Bank

C. Curry Design

Guarantee Real Estate

Cen Cal Business Finance Group

Harris Construction Co., Inc.

Central California Hispanic Chamber of Commerce

Imhoff Sunland Insurance

Mantrahouse MBS Accountancy Corporation Proteus, Inc. Provost & Pritchard Consulting Group Realty Concepts, Ltd. RJ Miller Construction Security First Bank Southwest Strategies LLC Tri Counties Bank Union Bank

Initiative Foods LLC

SILV ER $2,5 00 + BNSF Railway

Manco Abbott, Inc.

The Penstar Group

California Bank & Trust

Moore Twining Associates, Inc.

True Organic Products, Inc.

Chevron U.S.A., Inc.

San Joaquin Valley College

United States Cold Storage

Cushman & Wakefield

Span Construction & Engineering, Inc.

Valley Yellow Pages

E. & J. Gallo Winery

State Center Community College District

First Solar, Inc.

Fowler | Helsel | Vogt

Tutelian

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Fresno Area Construction Team

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

P UB LIC INV ESTOR S City of Clovis

City of Fresno

City of Parlier

City of San Joaquin

City of Coalinga

City of Kerman

City of Reedley

County of Fresno

City of Firebaugh

City of Kingsburg

City of Sanger

Five Cities JPA

City of Fowler

City of Orange Cove

2016 Real Estate Forecast

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EDC Staff

EDC Staff

PRESIDENT/CEO

Lee Ann Eager 559.476.2513

leager@fresnoedc.com

BUSINESS EXPANSION RETENTION COORDINATOR

Katrina Ballard 559.476.2510 kballard@fresnoedc.com

VICE PRESIDENT

Esther Cuevas 559.476.2507

ecuevas@fresnoedc.com

FISCAL & HR COORDINATOR

Carmen R. Gonzalez 559.476.2519 cgonzalez@fresnoedc.com

BUSINESS SUPPORT SPECIALIST, HSR

ECONOMIC DEVELOPMENT SPECIALIST

ECONOMIC DEVELOPMENT ANALYST

OFFICE MANAGER & RECEPTIONIST

ECONOMIC DEVELOPMENT COORDINATOR

CONTRACTS COMPLIANCE MANAGER

Dave Jones 559.476.2522 dljones@fresnoedc.com

Margo Lerwill 559.476.2503 mlerwill@fresnoedc.com

Mark J. Mimms II 559.476.2509 mmimms@fresnoedc.com BUSINESS RETENTION SPECIALIST

Heidi Ecker 559.476.2524 hecker@fresnoedc.com

BUSINESS SUPPORT SPECIALIST, HSR

Clay Gilpin 559.476.2517 cgilpin@fresnoedc.com

ECONOMIC DEVELOPMENT SPECIALIST

Shawna Glazener 559.476.2502 sglazener@fresnoedc.com

60

Seth C. Ramirez 559.476.2511 sramirez@fresnoedc.com

Bea Ramos 559.476.2500 bramos@fresnoedc.com

Andrea Reyes 559.476.2506 areyes@fresnoedc.com

ECONOMIC DEVELOPMENT ANALYST

Sergio Hernandez 559.476.2514 shernandez@fresnoedc.com

ECONOMIC DEVELOPMENT ANALYST, HSR

Josh Howell 559.476.2520 jhowell@fresnoedc.com

BUSINESS RETENTION SPECIALIST

Margaret Ingham 559.476.2515 hecker@fresnoedc.com

Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

CLIENT SERVICES MANAGER

Jose N. Mora 559.476.2516 jmora@fresnoedc.com

BUSINESS SUPPORT MANAGER, HSR

Will Oliver 559.476.2518 woliver@fresnoedc.com

EXECUTIVE ASSISTANT

Merritt Pacini 559.476.2501 mpacini@fresnoedc.com

INVESTOR & PUBLIC RELATIONS MANAGER

Karena Riley 559.476.2505 kriley@fresnoedc.com

BUSINESS SUPPORT SPECIALIST, HSR

Nayiri Saghdejian 559.476.2521 nsaghdejian@fresnoedc.com

ECONOMIC DEVELOPMENT SPECIALIST

Lavell Tyler 559.476.2508 ltyler@fresnoedc.com

2016 Real Estate Forecast

BE BOLD!

61


STRONG FOUNDATION

AD INDEX 2 Valley Wide Beverage 4 Granville Homes 6 Tangram Interiors 8 Ready 2 Work! Read 2 Hire? 14 Tutelian

CENTRAL CALIFORNIA

14 Fidelity National Title

LASTING

14 Newmark Grubb | Pearson Commercial Realty

SUPPORT

The foundation of a successful real estate transaction is a team of professionals ready to execute it from the ground up. If your company needs support, our team of professionals are ready to step in and find solutions to your unique needs. Colliers International offers a complete range of services to owners, buyers, tenants and investors seeking opportunities and solutions in retail, office, industrial, multifamily, land and investment properties. The foundation of our service is the experience, market knowledge and success of our local specialists for the Central Valley, Kern County and the Central California Coast. We’re your foundation and we’re ready to assist you. colliers.com/fresno Colliers International | Fresno Office | 559.221.1271

15, 53 One Putt Broadcasting 15 Nick Audino, SIOR 18 Civic Center Square 18 CORE Business Interiors 19 Span Construction & Engineering, Inc. 22 Dumont Printing 22 CEI Engineering Associates, Inc. 23 Fresno Energy Watch 26 Manco Abbott 26 California Realty & Capital, Inc. 26 Placer Title Company 26 MBS Accountancy Corp. 27 Fresno County EDC 30 California High Speed Rail Authority 32 Media Solutions, Inc. 32 Quiring General LLC 33 Fresno Association of Realtors 54 Wiebe Hinton Hambalek, LLP 54 Fresno Area Contstruction Team 55 Fresno Housing Authority

ChaSe iS ProuD to SuPPort FreSno buSineSS ownerS

So You Can Do More For Your CoMMunitY.

62 Colliers International 63 JP Morgan Chase Back Dowling Aaron

Visit Your Local Chase Branch Today. For more information, visit chase.com

Coordinated by the EDC: Esther Cuevas, Vice President Karena Riley, Investor & Public Relations Manager Design & Layout by: Catherine Curry McNally, C. Curry Design The Fresno County Economic Development Corporation is not responsible for the content and accuracy of data provided by the various outside contributors to this publication.

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Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500

JPMorgan Chase Bank, N.A. Member FDIC © 2016 JPMorgan Chase & Co.

2016 Real Estate Forecast

BE BOLD!

63


Superior Service. Unparalleled Advice. Over 40 Attorneys. 24 Practice Areas. One Unrivaled Law Firm. Over the past 38 years, Dowling Aaron Incorporated has established itself as one of the largest and most respected law firms in Central California. The foundation of our success is based on a simple promise to our clients—to ensure they receive individualized, superior service and unparalleled advice. Practice Areas • Agri-Business • Alternative Dispute Resolution • Appeals & Writs • Business & Tort Litigation • Business Transactions and Entity Formation • Construction Law & Litigation • Creditor’s Rights & Insolvency • Employment Law

• Energy, Oil, Gas & Mineral Law • Environmental Law • Estate Planning, Trust Administration & Probate • Funeral & Cemetery Law • Health Care • Intellectual Property & Patents • Internet & E-Commerce • Mergers & Acquisitions

• Nonprofit Law • Private Equity & Securities • Professional Malpractice Defense • Public Agency • Real Estate & Land Use • Tax Law • Trust & Estate Litigation • Water Law

www.dowlingaaron.com Fresno (559) 432-4500 · Sacramento (916) 791-4500 Bakersfield (661) 716-3000 · Visalia (559) 739-7200

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Fresno County Economic Development Corporation - The Essential Connection ~ www.fresnoedc.com ~ 559.476.2500


Fresno County EDC 2016 Real Estate Forecast  

The Fresno County EDC is a nonprofit organization established to market Fresno County as the premier location for business prosperity. As "T...

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