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The State of Business
City of Adelanto
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Economic Recovery
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
$20,000,000
2010 2011 2012 2013 2014 2015 2016 2017 2018
City of Adelanto - General Fund Summary
Revenue Expenses
Population Growth
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Population Growth by Percentage
Adelanto County State US
Population Growth
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
0
5000
10000
15000
20000
25000
30000
35000
40000
199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016
Adelanto Population Growth
Unemployment Rate
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Adelanto Nation California SB County
Population Drivers
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• Affordable Housing
• 55% - Nationally
• 28% - California
• 22% - Los Angeles
• 43% - San Bernardino County
• 67% - Adelanto
• Job Creation
• 1m SF of Cannabis = 850 base jobs
• Secondary employment jobs equal to base jobs
• Increase would support 600 to 700 housing units
• Cost of Living
Business Drivers
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
1. Adelanto School District
2. Apex Bulk Commodities
3. Geo Group
4. Northwest Pipe
5. Molded Fiberglass Companies
6. A&M Framers
7. Temp Trans LLC
8. Continental Fiberglass
9. Safeway Signs
10.General Atomics Aeronautical
By the Numbers
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• 8,847 - Adelanto’s Active workforce
• 26% are employed within the region
• 74% commute outside of the region
• 4,496 jobs in Adelanto, 774 held by residents
• 29% Manufacturing
• 15% Administration & Support
• 13% Education
• 11% Professional, Technical & Scientific
• 10% Health Care & Social Assistance
Impact of Cannabis
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Acceptance
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Cannabis Industry
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Cannabis Industry
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Adelanto, CA – MMJ Zones
Cannabis Industry
• Cultivation
• Manufacturing
• Distribution
• Dispensaries
• Delivery Services
• Ancillary Services!
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Projected Growth
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Cannabis Stats
• 74% of all Cannabis sales are illicit
• 24% annual growth rate anticipated
over next five years
• $22.6 Billion in sale by 2021
• California is the largest US market
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Challenges
• Banking
• Financing
• Federal Enforcement
• Transition from Underground
• Saturation
• Utilities
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Residential Real Estate
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• 2006 - $289,500
• 2011 - $80,500, 72.2% reduction
• 2018 – 205,000, 255% increase,
however, 70.7% of previous high
• Median Square footage – 1,500
Residential Real Estate
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
0
200
400
600
800
1000
1200
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Adelanto - Housing Market Historical Analysis
Median Sales Price Units Sold
Commercial Real Estate
Office
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• 145,017 SF of Office Space
• $0.77 PSF lease rates
• 0.0% Vacancy rate
• No Inventory
Commercial Real Estate
Retail
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• 302,089 SF of Retail Space
• $0.90 PSF lease rates
• 0.7% Vacancy rate
• No Inventory, Underserved
Commercial Real Estate
Industrial
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• 3,391,530 SF of Industrial Space
• $2.54 PSF lease rates
• 12.6% Vacancy rate
• 202,348 SF Negative Absorption
• Transitioning Market, New Deliveries
Impact on Industrial Space
• Sale price PSF has increased 722%
• Lease rates have increased 917%
• Land value has increased 1286%
• Reduction in Valley wide vacancy
• Speculators
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Lease Rates – High Desert
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Lease Rates - Adelanto
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Vacancy Rate by City
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• 12.6% - Adelanto
• 2.1% - Apple Valley
• 27.0% - Barstow
• 8.6% - Hesperia
• 5.1% - Victorville
New Developments
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• AM/PM project – Air Expressway/Hwy 395
• Verbena Retail Center – 98,270 SF Center Verbena
Road/Palmdale Road
• AirCore Cookware – 100,000 SF Manufacturing
• 116-unit SFR Subdivision – Poppy Rd/Johnson Rd
• 80-Unit SFR Subdivision – Jonathan Rd/Cactus Rd
• 125-unit Subdivision with Retail Component – Racoon
Rd/Seneca Rd
• Clark Pacific –Manufacturing, Holly Road
High Desert Corridor
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
Trends & Forecast
COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
• Decrease in Unemployment
• Increase in New Housing Starts
• Steady Increase in Housing Values
• Increase in Lease Rates for Office Space, no
Speculative Development
• Increase in Lease Rates for Retail Space, New
Development
• Decrease in Lease Rates and Vacancy for Industrial
Space, Continued Development
Questions?
Jason Lamoreaux
760-684-8000
JL@CBCinland.com

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Adelanto State of Business

  • 1. The State of Business City of Adelanto COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 2. Economic Recovery COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 $20,000,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 City of Adelanto - General Fund Summary Revenue Expenses
  • 3. Population Growth COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Population Growth by Percentage Adelanto County State US
  • 4. Population Growth COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM 0 5000 10000 15000 20000 25000 30000 35000 40000 199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016 Adelanto Population Growth
  • 5. Unemployment Rate COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Adelanto Nation California SB County
  • 6. Population Drivers COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • Affordable Housing • 55% - Nationally • 28% - California • 22% - Los Angeles • 43% - San Bernardino County • 67% - Adelanto • Job Creation • 1m SF of Cannabis = 850 base jobs • Secondary employment jobs equal to base jobs • Increase would support 600 to 700 housing units • Cost of Living
  • 7. Business Drivers COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM 1. Adelanto School District 2. Apex Bulk Commodities 3. Geo Group 4. Northwest Pipe 5. Molded Fiberglass Companies 6. A&M Framers 7. Temp Trans LLC 8. Continental Fiberglass 9. Safeway Signs 10.General Atomics Aeronautical
  • 8. By the Numbers COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • 8,847 - Adelanto’s Active workforce • 26% are employed within the region • 74% commute outside of the region • 4,496 jobs in Adelanto, 774 held by residents • 29% Manufacturing • 15% Administration & Support • 13% Education • 11% Professional, Technical & Scientific • 10% Health Care & Social Assistance
  • 9. Impact of Cannabis COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 10. Acceptance COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 11. Cannabis Industry COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 12. Cannabis Industry COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 13. Adelanto, CA – MMJ Zones
  • 14. Cannabis Industry • Cultivation • Manufacturing • Distribution • Dispensaries • Delivery Services • Ancillary Services! COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 15. Projected Growth COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 16. Cannabis Stats • 74% of all Cannabis sales are illicit • 24% annual growth rate anticipated over next five years • $22.6 Billion in sale by 2021 • California is the largest US market COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 17. Challenges • Banking • Financing • Federal Enforcement • Transition from Underground • Saturation • Utilities COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 18. Residential Real Estate COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • 2006 - $289,500 • 2011 - $80,500, 72.2% reduction • 2018 – 205,000, 255% increase, however, 70.7% of previous high • Median Square footage – 1,500
  • 19. Residential Real Estate COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM 0 200 400 600 800 1000 1200 $- $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Adelanto - Housing Market Historical Analysis Median Sales Price Units Sold
  • 20. Commercial Real Estate Office COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • 145,017 SF of Office Space • $0.77 PSF lease rates • 0.0% Vacancy rate • No Inventory
  • 21. Commercial Real Estate Retail COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • 302,089 SF of Retail Space • $0.90 PSF lease rates • 0.7% Vacancy rate • No Inventory, Underserved
  • 22. Commercial Real Estate Industrial COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • 3,391,530 SF of Industrial Space • $2.54 PSF lease rates • 12.6% Vacancy rate • 202,348 SF Negative Absorption • Transitioning Market, New Deliveries
  • 23. Impact on Industrial Space • Sale price PSF has increased 722% • Lease rates have increased 917% • Land value has increased 1286% • Reduction in Valley wide vacancy • Speculators COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 24. Lease Rates – High Desert COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 25. Lease Rates - Adelanto COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 26. Vacancy Rate by City COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • 12.6% - Adelanto • 2.1% - Apple Valley • 27.0% - Barstow • 8.6% - Hesperia • 5.1% - Victorville
  • 27. New Developments COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • AM/PM project – Air Expressway/Hwy 395 • Verbena Retail Center – 98,270 SF Center Verbena Road/Palmdale Road • AirCore Cookware – 100,000 SF Manufacturing • 116-unit SFR Subdivision – Poppy Rd/Johnson Rd • 80-Unit SFR Subdivision – Jonathan Rd/Cactus Rd • 125-unit Subdivision with Retail Component – Racoon Rd/Seneca Rd • Clark Pacific –Manufacturing, Holly Road
  • 28. High Desert Corridor COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM
  • 29. Trends & Forecast COMMERCIAL TO THE CORESM // CBCWORLDWIDE.COM • Decrease in Unemployment • Increase in New Housing Starts • Steady Increase in Housing Values • Increase in Lease Rates for Office Space, no Speculative Development • Increase in Lease Rates for Retail Space, New Development • Decrease in Lease Rates and Vacancy for Industrial Space, Continued Development