las rosas offering memorandum...las rosas consists of 50.68 unimproved residential acres in the city...
TRANSCRIPT
50.68 Acres Residential land
W a s c o , C a l i f o r n i a
Las Rosas
Offering Memorandum
Ta bl e o f C o n t e n t s
Offering Summary 4
Executive Summary 6
Maps 8
Site Plan 10
Offering Summary 12
Market Analysis 16
Actively Selling Communities 18
Housing Market Statistics 20
Regional Overview 22
Wasco Overview 24
Wasco Employment & Demographics 26
Kern County 28
Education 32
Disclosures 34
4
5
Offering Summary
6
LOT COUNT/SIZETo be determined. The expired Tentative Tract Map No. 6589 wasapproved for 306 lots, 95 of which have been developed and arenot included in this offering.
TAX INFORMATION
The current property tax rate on the subject site is 1.069%. ACommunity Facilities District (CFD) has not been formed for thesubject site. Buyer to verify current Tax and CFD information.
COST TO COMPLETE
The property will be delivered “as is”. Buyer is encouraged tocomplete their own cost to complete estimates.
UTILITY PROVIDERS
Utility Provider
Sewer & Water: City of Wasco
Gas & Electric: PG&E / Southern California Gas Co.
Telephone: AT&T
Cable TV: Bright House Networks
SCHOOL DISTRICT INFORMATION
Wasco Union Elementary School District
• John L Prueitt Elementary School (K-6)
State Rank: 4 API: 774
• Thomas Jefferson Middle School (7-8)
State Rank: 4 API: 754
Wasco Union High School District
• Wasco High School (9-12)
State Rank: 5 API: 750
The State Rank is determined by a school's API Score in
comparison to all other schools in California (1 is the worst, 10 is
the best). An equal number of schools occupy each rank. This
rank comes from the 2013 California Academic Performance
Index (API) Base report. The API Score is a number between
200 and 1000 that reflects a school’s or school district’s
performance on statewide student assessments.
PROPERTY OVERVIEW
Las Rosas consists of 50.68 unimproved residential acres in thecity of Wasco, Kern County. The property was previously entitledand a portion of the project has been developed and built out. Theentitlements on the remainder of the property have expired.
LOCATION
Las Rosas is generally located at the northwest corner of FilburnAvenue and Palm Avenue, east of Central Avenue
OWNER OF RECORD
Wasco Land Holdings LLC
ASSESSOR PARCEL NUMBERS
490-010-23 through -028
ACRES
Approximately 50.68 acres
ZONING
R-1-8 (Residential - 8,000 sq.ft. minimum lot)
TOPOGRAPHY
The subject property is relatively flat.
ENTITLEMENTS
The property is currently unentitled. Tentative Tract Map No. 6589and Recorded Final Tract Map No. 6589 (Phase 2) have expired.
PROPERTY CONDITION
The Property is currently in an unimproved condition and will bedelivered “as-is.” The Buyer will be responsible for making alnecessary improvements.
E x e c u t i v e S u m m a r y
7
Aerial Map
8
M a p s
Vicinity Map
9
Regional Map
Local Map
10
S i t e P h o t o s
Facing northeast from Central Avenue
Facing south from the terminus of Hawthorne Street
11
Facing southwest from Palm Avenue
Facing northwest from Beckes
12
13
Offering Guidelines
14
DUE DILIGENCE MATERIAL
Please contact Jason Hepp or Matt Power to request access to the due diligence material in Land Advisors Organization’s Virtual DataRoom.
AS‐IS SALE: NO REPRESENTATIONS AND WARRANTIES
The Property is being sold “as-is,” “where is” with no representations or warranties from either the Seller or its Affiliates. The informationprovided is intended to help a Buyer develop an offer to purchase the Property, but the buyer must not reply on anything other than itsown due diligence.
Of f e r i n g G u i d e l i n e s
7th Street – Wasco, CA
15
ASKING PRICE
There is no asking price. Please submit offer.
PURCHASE TERMSSeller will only accept offers that are structured as an all-cash bulksale.
LETTER OF INTENTUpon mutual execution of a non-binding letter of intent, the parties will endeavor to enter into a binding purchase and sale agreement.
DEPOSITSThe Initial Deposit shall be equal to five percent (5%) of theanticipated Purchase Price. Said Deposit shall be paid at theOpening of Escrow and shall remain refundable during theFeasibility Period. Prior to Buyer’s approval of Feasibility, a SecondDeposit equal to ten percent (10%) shall be placed in escrowproviding for a total Deposit of fifteen percent (15%) of thePurchase Price. Upon Buyer’s approval of its Feasibility, the Initialand Second Deposit shall be nonrefundable and applicable to thePurchase Price.
FEASABILITY PERIODBuyer shall have a Feasibility Period in which to investigate allaspects of Market Place, including the physical condition of theProperty. The Feasibility Period shall begin upon the acceptanceof a Letter of Intent and will expire in approximately 45 days fromthe delivery of the first draft of the PSA.
PROPERTY CONDITION AT CLOSE OF ESCROW
The subject property will be delivered “as is” at the close of escrow.
CLOSE OF ESCROW
The Close of Escrow shall occur on or before 30 days after the
expiration of the Feasibility Period.
OFFERS DUEPlease submit all offers to:
Land Advisors Organization
Attn: Jason Hepp
Address : 28494 Westinghouse Place, Suite 101
Valencia, CA 91355
Tel: 661-702-9080 │ Fax 949-852-8108
Email: [email protected]
OFFERS DETAILSPlease submit offer in the form of a Letter of Intent. Bids shouldidentify the proposed Buyer, its principals and/or material aspects ofits corporate organization. Buyer’s submission should includeinformation regarding Buyer’s relevant experience and financialwherewithal, and its intended equity and debt sources forconsummating the Transaction.
BROKER DISCLOSURESPlease be advised, Buyer acknowledges that Land AdvisorsOrganization, may (1) act as an agent for more than one prospectiveBuyer on the subject property and/or (2) act as the agent for both theBuyer and Seller on the subject property. Any prospective Buyerrequesting Land Advisors to submit an offer on its behalfacknowledges the foregoing disclosures and agrees to the describedagency relationships with other prospective Buyers.
Seller and Land Advisors expressly reserve the right, at their solediscretion, to reject any or all expressions of interest or offers topurchase the property and/or to terminate discussions with any partyat any time with or without notice. Seller shall have no legalcommitment or obligation to any purchaser reviewing this Brochure ormaking an offer to purchase the Property unless a written agreementfor the purchase of the Property has been fully executed, deliveredand approved by the Seller and any conditions to Seller's obligationsthere under have been satisfied or waived. Land Advisors is notauthorized to make any representations or agreements on behalf ofSeller.
16
17
Market Analysis
18
A c t i v e ly S e l l i n g C o m m u n i t i e s
Sources: DataQuick, Foreclosure Radar, Real Estate Economics
# Development BuilderTotalUnits
UnitsSold
UnitsAvail.
MonthlySales
AvgBase Pricing
Avg Price/ SF
AvgSF
Min Lot Size
1 Poplar Pointe Evergreen Communities 24 2 22 0.34 $207,094 $121.29 1,715 6,000
2 Hidden Grove Hacienda Legacy 48 7 8 0.47 $221,567 $130.32 1,709 6,100
Subtotal/Averages: 72 9 30 0.41 $214,331 $125.81 $1,712 6,050
We have generally defined the CMA as similar detached projects within the city of Wasco. There are currently two actively selling
projects within the defined C.M.A. Each project contains traditional detached homes consisting of approximately 6,000 square feet lots
with average base pricing ranging from approximately $210,000 - $216,000.
“Monthly Sales” reflect the average monthly home sales since project opening
1
2
19
1. POPLAR POINTE | EVERGREEN COMMUNITIES
Location: South Wasco, CA Total Planned: 24 Price Range: $189,950 – $226,055
Open Date: Q2 2014 Total Sold: 2 House Size: 1,484 – 1,950
Product Type: Detached Total Available: 22 Price Per SF: $116 – $128
Levels: 1-Story & 2-Story Total Remaining: 22 HOA: $0
Beds: 4 - 5 Sales Rate: 0.34/mo. Tax Assess: $44
2. HIDDEN GROVE | HACIENDA LEGACY
Location: North Wasco, CA Total Planned: 48 Price Range: $209,000 – $234,900
Open Date: Q3 2013 Total Sold: 7 House Size: 1,502 – 1,917
Product Type: Detached Total Available: 8 Price Per SF: $123 – $140
Levels: 1-Story & 2-Story Total Remaining: 41 HOA: $0
Beds: 3 - 5 Sales Rate: 0.47/mo. Tax Assess: $0
$150,000
$160,000
$170,000
$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
$240,000
$250,000
1,200 1,450 1,700 1,950 2,200
New Home Community Pricing Graph by Base Pricing
Poplar Pointe Hidden Grove
Bas
e H
ome
Pric
ing
Square Feet
20
With continued signs of a steady recovery in Kern County housing, demand for future development land in Kern County will continue togain momentum in 2015 due to the following factors:
HOME PRICE APPRECIATION
According to DataQuick, the median price of resale single family residences and condos as well as new homes sold in December 2014rose 11.80% to $197,000 over the same month last year in Kern County.
FORECLOSURE ABATEMENT
In Q3 2014, DataQuick reported Kern County foreclosures decreased by 18.8% in comparison to Q3 2013.
HOME SALES VOLUME
The overall number of home sales in December 2014 increased by 7.90% over the same month last year in Kern County.
H o u s i n g M a r k e t S tat i s t i c s
Sources: DataQuick, Foreclosure Radar, Real Estate Economics
Sales Volume Median Sales Price
Kern County Dec-13 Nov-14 Dec-14YOY % Change
Dec-13 Nov-14 Dec-14YOY % Change
New Homes 139 145 182 30.90% $255,000 $279,500 $286,500 12.40%
Resale Condos 13 22 26 100.00% $120,000 $115,750 $85,000 -29.20%
Resale Detached 673 674 682 1.30% $158,500 $175,000 $175,000 10.40%
All Homes 825 841 890 7.90% $176,250 $190,000 $197,000 11.80%
Foreclosures Inventories, Kern County, CA
21
Year-Over-Year New Home Market Changes
Category
Survey Month 12-mo. Change
Dec 2012 toNov 2013
Dec 2013 toNov 2014
Dec 2012 toNov 2013
Dec 2013 toNov 2014
Transaction Volume 48 45 (3) -6.3%
Average Price $187,646 $202,167 $14,521 7.7%
Average Unit Size (Sq. Ft.) 1,856 sf 1,806 sf -50 sf -2.7%
Average Price Per Square Foot $107/sf $112/sf $5/sf 4.5%
Year-Over-Year Existing Home Market Changes
Category
Survey Month 12-mo. Change
Dec 2012 toNov 2013
Dec 2013 toNov 2014
Dec 2012 toNov 2013
Dec 2013 toNov 2014
Transaction Volume 130 102 (28) -21.5%
Average Price $144,031 $160,266 $16,235 11.3%
Average Unit Size (Sq. Ft.) 1,496 sf 1,563 sf 68 sf 4.5%
Average Price Per Square Foot $94/sf $101/sf $7/sf 7.1%
Average Price and Price Per Square Foot
December 2013 – November 2014; Wasco; SFD; new sales, resales, and foreclosure sales
$120
,159
$155
,330
$166
,515
$79.46
$94.70$100.85
$0
$20
$40
$60
$80
$100
$120
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
Dec '2011 to Nov '2012 Dec '2012 to Nov '2013 Dec '2013 to Nov '2014
22
23
Regional Overview
24
CITY OVERVIEW
FAST FACTSIncorporated: 1945Size: 9.4 Square MilesPopulation: 25,945
Estimated Median Age: 28.3
Unemployment Rate: 7.6%
Per Capita Income: $10,501
Median Household Income: $39,061
Estimated Housing Units: 5,423
Wasco is conveniently located in Central California’s San Joaquin
Valley. Located approximately 137 miles north of Los Angeles and
260 miles south of Sacramento, Wasco is a short two-hour drive
from Pacific ocean beaches, the giant redwoods in the Sequoia
mountain, or the Los Angeles area and many more of California's
destination spots. The friendly community of Wasco is home to a
population of approximately 25,500 people with an ever-growing
population. The city offers safe and quiet neighborhoods, and this
population growth has led to the development of many new
subdivisions and the a variety of housing choices. New homes
range from 1,200 square feet to expansive homes on one-acre
lots. Wasco is one of the most affordable areas in the state of
California, with new home pricing starting as low as $100,000.
Wasco offers numerous dining options, accommodations, retail
stores, and recreational activities. Local restaurants include
everything from sushi and Chinese food to Mexican food, pizza,
sandwich shops, and fast food. The city hosts the annual Festival
of Roses and has several movie theaters and a Historical Society
& Museum. Wasco is also home to four parks and offers activities
including organized baseball, youth football, and Little League
programs. Other recreational facilities include a new skate parks, a
public pool, and tennis courts.
Wasco is a short 30 minute drive from the bustling city of
Bakersfield, which is the 9th most populous city in California.
Bakersfield boasts numerous activities and facilities including the
Bakersfield Amphitheatre, CALM Zoo, Fox Theater, Ice Sports
Center, and the Rabobank Arena, Theater & Convention Center.
The city is also home to the Kern County Fair.
W a s c o
Sources: City of Wasco, US Census, Kern County Development Corporation, Land Advisors Organization Research
25
Rabobank Arena, Theater and Convention Center is Bakersfield’s home for live
entertainment! Home of the ECHL’s Bakersfield Condors and the NCAA D-I CSUB
Roadrunner men’s basketball team, Rabobank Arena, Theater and Convention Center hosts
concerts, family shows, community activities and many other events throughout the year.
The complex is owned by the City of Bakersfield and is professionally managed by AEG.
McMurtrey Aquatic Center California Living Museum
The McMurtrey Aquatic Center hosts
activities such as aquatic fitness, diving, lap
and recreation swim, scuba, water polo,
swim meets and more in their recreation
pool and Olympic-sized pools year-round.
Located on 14 park-like acres, the California
Living Museum (CALM)’s zoo features over
80 species of unreleasable animals. Only
animals injured or unable to survive in their
native environment are housed at CALM.
Buck Owens’ Crystal Palace
Constructed by Buck Owens and opened in
1996, Buck Owens’ Crystal Palace is a
music hall, museum, and restaurant located
in Bakersfield. The venue features dancing
and spotlights live music by local artists
nightly and has featured some of the biggest
names in country music including Garth
Brooks and Trisha Yearwood.
Jan • Polar Bear Plunge• The Great 48 Hour Bluegrass Jam
Mar
• Bakersfield Fiesta• March Meet• CIF State Wrestling Championships• Scottish Gathering & Games
Apr• Festival of Beers• NSRA Western Nationals• Women’s Business Conference
May
• Bakersfield Jazz Festival• Basque Festival• Greek Food Festival• Stampede Days Rodeo
Jun• Nut Festival• Standing Bear Pow Wow• Wine Fest
Sep
• B-Town Blues Fest• Greek Foot Festival• Kern County Fair• Village Fest
Oct • California Hot Rod Reunion• Via Arte Italian Street Painting Festival
Nov • ARTini
Dec• Bakersfield Christmas Parade• Holiday Lamplight Tours• Holiday Lights
Annual Bakersfield EventsACTIVITIES & FACILITIES (BAKERSFIELD)
26
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
2010 2013 2023
Tota
l Job
s/H
ousi
ng U
nits
Wasco Jobs, Housing Units,& Jobs-Housing Ratio Projections
Jobs Housing
Wasco Employment by Industry
Industry Number Percentage
Agriculture, Forestry, Fishing and Hunting, and Mining 2,316 33.6%
Educational Services, and Health Care and Social Assistance 809 11.7%
Retail Trade 778 11.3%
Public Administration 502 7.3%
Transportation and Warehousing, and Utilities 493 7.1%
Wholesale Trade 432 6.3%
Arts, Entertainment, and Recreation, and Accommodation and Food Services 351 5.1%
Manufacturing 332 4.8%
Professional, Scientific, and Management, and Administrative 254 3.7%
Finance and Insurance, and Real Estate and Rental and Leasing 230 230 3.3%
Construction 181 2.6%
Information 125 1.8%
Other Services, Except Public Administration 99 1.4%
Total Civilian Employed Population 16 Years and Over 6,902 100%
(1:1.15) (1:1.12)
(1:1.00)
( ) Jobs-Housing Ratio
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
2010 2013 2023
Num
ber o
f Job
s
Greater Wasco Area Job Growth
County Jobs RSA Jobs
W a s c o E m p l o y m e n t & De m o g r a p h i c s
27
Description 5 Miles 10 Miles 15 MilesPopulation By Year
Population (2010) : 25,871 58,862 107,415Population (Current) : 26,044 59,507 108,571Population (5 Yr. Forecast) : 27,854 64,305 116,429Percent Growth (Current Yr./Previous Yr.) : 1.04 1.34 1.25Percent Forecast (5 Yr. Forecast/Current Yr.) : 8.51 8.73 7.7Households By YearHouseholds (2010) : 5,238 12,947 21,886Households (Current) : 5,239 13,012 22,016Households (5 Yr. Forecast) : 5,744 14,268 24,143Percent Growth (Current Yr./Previous Yr.) : .31 .69 .69Percent Forecast (5 Yr. Forecast/Current Yr.) : 8.57 9.26 8.57
General Population CharacteristicsMale: 13,730 30,799 60,139Female : 12,314 28,708 48,432Density : 643.7 227.1 74.2Urban : 25,530 55,964 89,568Rural : 694 3,543 19,003
General Household CharacteristicsHouseholds (Current) : 5,239 13,012 22,016Families : 4,372 11,119 18,912Average Size of Household : 3.47 3.79 3.47Median Age of Householder : 44 44 44Median Value Owner Occupied ($) : $187,111 $180,678 $183,092Median Rent ($) : $548 $565 $568Median Vehicles Per Household : 2 2 2
General Housing CharacteristicsHousing Units : 5,607 13,869 23,522Owner Occupied Units : 2,747 7,184 11,843Renter Occupied Units : 2,492 5,828 10,173Vacant Units : 368 857 1,506
Population By RaceWhite Alone : 13,317 29,518 50,127Black Alone : 1,961 2,456 6,978Asian Alone : 185 462 3,679American Indian and Alaska Native Alone : 292 723 1,244Other Race Alone : 9,448 24,311 42,918Two or More Races : 841 2,037 3,625Population By EthnicityHispanic : 20,250 48,566 84,328White Non-Hispanic : 3,633 7,823 13,565
General Income CharacteristicsMedian Household Income ($) : $42,374 $42,395 $41,767Total Household Income ($) : $271,829,130 $665,783,254 $1,105,405,275Average Household Income ($) : $51,886 $51,167 $50,209Per Capita Income ($) : $10,437 $11,188 $10,181
Retail SalesTotal Retail Sales ($) : $88,818 $205,379 $432,989
Consumer ExpendituresTotal Consumer Expenditures ($000) : $253,037 $634,555 $1,073,376
Employment By Place Of BusinessTotal Employees : 1,935 7,187 13,756Total Establishments: 159 501 941
Demographics (Distance from Las Rosas)
28
AEROSPACE & DEFENSE
Eastern Kern County is home to some of the most innovative and specialized technologies in the world. The
region’s aerospace programs stand at the forefront of the industry, gaining international recognition for space
tourism and the first-ever privately-funded spaceflight, while the area’s defense and advanced weapons fostered
by two military installations. The region’s aerospace and defense employment is four times the national
average. Aerospace and defense provide almost 20,000 high-wage full-time jobs for Kern County’s residents.
These jobs have staying power thanks to vast open land, lack of development encroachment, proximity to Los
Angeles, and higher education levels per capita in East Kern than in most other regions in the county.
Companies:
• ASB Avionics
• BAE Systems
• Edwards Air Force Base
• Fiberset
• Flight Research, Inc.
• Flight Test Associates
• Icon Aircraft
• Masten Space
• Mojave Air and Space Port
• National Test Pilot School
• Naval Air Warfare Center
Weapons Division at China Lake
• Orbital Sciences Corporation
• Rocket Propulsion Engineering
Corporation
• Scaled Composites
• Trans Lunar Research
• Virgin Galactic
• XCOR Aerospace
ENERGY & NATURAL RESOURCES
Kern County leads the state in oil and natural gas production. Kern County produces approximately 75% of California’s in-state oil and about
58% of the state’s total natural gas. Kern County’s Elk Hills field is the state’s top natural gas producer. Two other fields, South Belridge and
Lost Hills, rank in the state’s top 5 for gas production. The state’s top five oil producing fields -- Midway-Sunset, South Belridge, Kern River,
Cymric, and Elk Hills -- are located in Kern County. Three of these fields - Midway-Sunset, South Belridge and Kern River - are ranked in the
top 10 producing oil fields in the nation. If Kern County were a state it would rank fourth in oil production.
Thermal-enhanced oil recovery, using technology developed here and exported worldwide, accounts for nearly 52% of Kern’s oil production.
Refinery operations range from large full-scale processes to smaller, specialty facilities that produce many refined products.
Kern County has 37 high-efficiency cogeneration facilities, which play a vital role in the area’s oil-producing operations. Producing two
sources of energy in the form of steam and electricity, these facilities allow heavy oil to flow and be produced efficiently, economically and
with reduced air emissions.
The Tehachapi Wind Resources Area generates almost half of the wind energy produced
in the state, approximately one percent of the state’s overall electricity needs.
With more than 300 days of sunlight each year, Kern County is an ideal location for solar
electrical systems. Homeowners and businesses continue to install these types of systems,
taking advantage of this abundant natural resource.
A major region of economic growth, Kern County’s successful energy industry is committed
to sustaining the area’s vitality and to enhancing the region’s cultural, social and work
environments.
K e r n C o u n t y
Sources: Kern Economic Development Corporation, Greater Bakersfield Chamber of Commerce, and Land Advisors Organization Research
29
HEALTHCARE
As Kern County continues to grow, so does the need for a wide-ranging network of
healthcare professionals and facilities to serve the region’s growing population. With
more than 850,000 living in Kern County, local demands for highly skilled and
innovative care options continue to increase. Currently, the healthcare and medical
technology cluster supports more than 30,000 jobs. Kern County offers a broad
selection of healthcare training programs demonstrating a commitment to continually
improve healthcare in the community. California State University, Bakersfield College,
Bakersfield Adult School, and Kern Medical Center’s residency program are among the most sought after healthcare training programs in the
region. Advances in medical technology are currently being made in Kern County. For example, Bakersfield’s Comprehensive Blood &
Cancer Center was recently awarded the “Best in the West” for Oncology Modality and San Joaquin Community Hospital's Maternity Care
Center has received several five star ratings from HealthGrades (an independent healthcare rating company) which place it in the top 10% of
all hospitals in the nation.
Top Healthcare Providers:
• Bakersfield Heart Hospital
• Bakersfield Memorial
Hospital
• Catholic Healthcare West
• Comprehensive Blood & Cancer
Center
• Delano Regional Medical Center
• Good Samaritan Hospital
• HealthSouth Bakersfield
Rehabilitation Center
• Kern Medical Center
• Kaiser Permanente
• Mercy Hospital/Dignity
Health
• San Joaquin Medical Center
• Tehachapi Hospital
TRANSPORTATION, LOGISTICS, WAREHOUSING, &MANUFACTURING
Kern County is ideally located to serve California and the western United States, including the ability to
reach 97% of California’s 37 million consumers within a single day truck turn. It is positioned between
California’s two major port facilities – the Ports of Los Angeles and Long Beach are two hours to the
south and the Port of Oakland is four hours to the north. Direct northbound and southbound access via
Interstate 5 and Highway 99; easy access eastbound via Highway 58 to Interstate 40 and Interstate 15.
Tejon Ranch Commerce Center is strategically located at the gateway to California’s Golden Empire, a region that features major distribution
centers and large manufacturing, assembly, and packaging facilities. The Tejon Ranch Commerce Center has up to 20 million square feet of
new industrial space immediately available for a variety of manufacturing, assembly, R&D and flex-tech uses. Kern County offers companies a
number of critical advantages: low total costs of operations; a large productive and loyal labor force; operational advantages, and a business-
friendly operating environment.
Companies:
• Bolthouse Farms
• Car Quest
• Caterpillar
• Dreyer’s Grand Ice Cream
• Elk Corporation
• Famous Footwear
• Frito-Lay, Inc.
• Formica
• Grimmway Farms
• Ikea
• Lehigh Cement
• Nestle
• Performance Food Group
• Sears
• Target Distribution Center
• Wal-Mart
30
VALUE‐ADDED AGRICULTURE
Agriculture has long been at the heart of Kern County’s economy. A new emphasis has been placed on the
potential economic benefits of “value-added’” agriculture within Kern County. Value-added agriculture is the
transformation of agriculture products to a higher value for the ultimate consumer. For example, “baby carrots”
were first developed in Kern County.
Support service companies that manufacture packaging such as bags or cartons for the food processing
industry are an integral link in the value-added agricultural chain.
Top 20 Commodities 2013 (Value):
1. Grapes, All ($1.8B)
2. Almonds, Including By-
Products ($971MM)
3. Milk, Market & Manufacturing
($765MM)
4. Citrus, Fresh & Processing
($642MM)
6. Cattle & Calves ($409MM)
6. Pistachios ($388MM)
7. Carrots, Fresh & Processing
($335MM)
8. Hay, Alfalfa ($218MM)
9. Cotton, Including Processed
Cottonseed ($147MM)
10. Potatoes, Fresh & Processing
($109MM)
11. Pomegranates, Fresh &
Processing ($88MM)
12. Cherries ($80MM)
13. Silage & Forage ($69MM)
14. Bell Peppers, Fresh &
Processing ($60MM)
15. Apiary Products ($58MM)
16. Nursery, Fruit and Nut Trees &
Vines ($56MM)
16. Nursery, Fruit and Nut Trees &
Vines ($56MM)
17. Tomatoes, Fresh & Processing
($55MM)
18. Eggs & Egg Product ($52MM)
19. Nursery, Roses ($45MM)
20. Onions, Fresh & Dehydrator
($35MM)
Successful Value-Add Agriculture Companies:
• ASV Wines, Inc.
• Bidart Borthers
• Cal-Organic, LLC
• Central Valley Almond Association
• Certis USA
• Crystal Geyser
• Delano Growers Grape
• Dreyer’s Grand Ice Cream
• Famoso Nut Rio Bravo
• Farmers Cooperative Almond
Huller, Inc.
• Frito-Lay, Inc.
• Giumarra Vineyard Corporation
• Golden Empire Nut
• Golden State Vitners, Inc.
• Grimmway Farms
• Johnston Farms
• Kern-Tulare Almond Processing
• Kern Ridge Growers, LLC
• Langer’s Juice
• Pacific Almonds Processing
• Palm LLC
• Panoche Creek Packing
• Paramount Citrus
• Paramount Farms
• Pepsi-Cola
• Production Pillsbury Company
• Primex Farms Pistachios
• Tomato Company LLC
• Sara Lee Bakery Group, LLC
• South Family Farms
• Sun Gro Commodities, Inc.
• Sun Pacific
• Sunny Gem Almond
Processing
• The Garlic Company
• Thompson International,
Inc.
• Vetch Farms Almond
Processing
• Wm. Bolthouse Farms, Inc.
• Shafter-Waso Ginning and
Almond Hulling Company,
Inc.
K e r n C o u n t y
Sources: Kern Economic Development Corporation, Greater Bakersfield Chamber of Commerce, and Land Advisors Organization Research
31
KERN COUNTY MAP
32 Sources: Wasco Union Elementary School District, Wasco Union High School District, and Land Advisors Organization Research
E d u c at i o n
The Wasco Union Elementary School District serves students from Kindergarten through 8th grade in the Wasco area. The school district
consists of four elementary schools and one middle schools. The mission of the Wasco Union Elementary School District is to provide all
students an education which promotes lifelong learning, an appreciation for diversity, and responsible citizenship.
WASCO UNION HIGH SCHOOL DISTRICT
The Wasco Union High School District serves students from in 9th through 12th grade in the Wasp area. The school district consists of one
comprehensive high school and one continuation high school. Students in the Wasco Union High School District enter an environment that is
both compassionate and challenging where students will be stretched to achieve their full potential. The school district is committed to
ensuring high levels of learning, raise expectations, and broaden horizons for the sake of the dreams and aspirations of the students.
PRIVATE SCHOOLS
Private schools, also known as independent schools or non-state schools, are not administered by local, state or national governments.
Therefore, they retain the right to select their students and are funded in whole or in part by charging their students' tuition rather than relying
on public/government funding through mandatory taxation. At some private schools, students may be able to obtain a scholarship, which
lessens the cost of attendance, depending on the student’s talent within a certain area (e.g., sport scholarship, art scholarship, academic
scholarship, etc.).
Religiously affiliated and denominational schools form a subcategory of private schools. Some such schools teach religious studies courses,
together with the usual academic subjects, to impress upon their students their particular system of beliefs and traditions. Others such school
use their faith more as a general label to describe the school’s foundation, while still maintaining a distinction between academics and religion.
Most educational alternatives are privately financed. Private schools often avoid some state regulations; however, most private schools
comply with state regulations relating to the educational content of classes to ensure educational quality. Often, religiously affiliated private
schools simply add religious instruction to the courses provided by local public schools.
WASCO UNION ELEMENTARY SCHOOL DISTRICT
Bethany Christina (KG-12)
942 7th Street
Wasco, CA 93280
Enrollment: 15 Students
North Kern Christian (KG-12)
710 Peters Street
Wasco, CA 93280
Enrollment: 123 Students
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John L Pruiett Elementary School Thomas Jefferson Middle School Waco High School
Grades:K‐6
State Rank:4
API:774
Grades:7‐8
State Rank:4
API:754
Grades:9‐12
State Rank:5
API:750
John L. Pruiett Elementary School servesapproximately 699 students in Kindergartenthrough 6th grade. John L. Prueitt iscommitted to meeting the educational needsof all children through collaboration betweenschool, parents, and the community. Theentire staff strives to ensure that everystudent: is successful; develops a positiveself-image; makes positive decisions; andgrows academically, socially, psychologicallyand physically. The school provides a safe,clean environment for students, staff, andvolunteers, School facilities are up to date andprovide adequate space for students and staff.
Thomas Jefferson Middle School servesapproximately 712 students in 7th and 8thgrade. The mission of TJMS is to provide allstudents an education which promoteslifelong learning, an appreciation for diversity,and responsible citizenship. TJMS providesextensive technology capabilities to thestudents which include three classroomcomputer labs and a full computer lab in thelibrary, each classroom contains at least twostudent computers, and all classrooms havea video projector and a Smart Board. Inaddition, the entire site is connected upto a district network.
Wasco High School is the singlecomprehensive high school ins Wasco andserves approximately 1,610 students ingrades 9 through 12. The Wasco UHSD is alearning community dedicated to ensuringthat students learn, maintaining a culture ofcollaboration and focusing on results sostudents graduate with the knowledge, skills,attitudes, and values essential to becomingproductive members of society. WHS offersASB, athletics, and numerous clubsincluding drama, golf, book, academicdecathlon, music, volleyball, and science.
Educational Facilities Map
Thomas Jefferson Middle School
Wasco High School
John L. Pruiett Elementary
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Disclosures
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CONFIDENTIALITY AND DISCLAIMER
The information contained in this offering material (“Brochure”) is confidential, furnished solely for the purpose of a review by prospectivepurchaser of any portion of Assessor Parcel Nos. 490-010-23 through -028 in the city of Wasco, County of Kern California (“Property”) and isnot to be used for any other purpose or made available to any other person without the express written consent of Land AdvisorsOrganization. The material is based in part upon information supplied by Wasco Land Holdings LLC (“Seller”) and in part upon informationobtained by Land Advisors Organization from sources it deems reasonably reliable. Summaries of any documents are not intended to becomprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation,expressed or implied, is made by Seller, Land Advisors Organization, or any of their respective affiliates, as to the accuracy or completenessof the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projectionsand conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, includingengineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardousmaterial located at the site.
In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor,necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interestedparties are expected to independently review all documents.
This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute arecommendation, endorsement or advice as to the value of the Property by Land Advisors Organization or the Seller. Each prospectivepurchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Seller and Land Advisors Organization expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offersto purchase the property and/or to terminate discussions with any party at any time with or without notice. Seller shall have no legalcommitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreementfor the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to Seller's obligationsthere under have been satisfied or waived. Land Advisors Organization is not authorized to make any representations or agreements onbehalf of Seller.
This Brochure is the Property of Land Advisors Organization and may be used only by parties approved by Land Advisors Organization. TheProperty is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to Land AdvisorsOrganization immediately upon request of Land Advisors Organization or Seller and (ii) that this Brochure and its contents are of aconfidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwisereproduced or disclosed to anyone without the prior written authorization of Land Advisors Organization and Seller.
Please be advised, Buyer acknowledges that Park Place Partners, Inc. d/b/a Land Advisors Organization, may (1) act as an agentfor more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on thesubject property. Any prospective Buyer requesting Land Advisors to submit an offer on its behalf acknowledges the foregoingdisclosures and agrees to the described agency relationships with other prospective Buyers.
The terms and conditions set forth above apply to this Brochure in its entirety.
B r o k e r a g e Di s c l o s u r e s
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DISCLOSURE AND CONSENT FOR REPRESENTATION
OF MORE THAN ONE BUYER OR SELLER
Excerpts From – C.A.R. Form DA, 11/06
A real estate broker, whether a corporation, partnership or sole proprietorship, (“Broker”) may represent more than one buyer or sellerprovided the Broker has made a disclosure and the principals have given their consent. This multiple representation can occur through anindividual license as a broker or through different associate licensees acting for the Broker. The associates licensees may be working out ofthe same or different office locations.
Broker may be working with many prospective buyers at the same time. These prospective buyers may have an interest in, and make offerson, the same properties. Some of these properties may be listed with Broker and some may not. Broker will not limit or restrict any particularbuyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property.
Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker willattempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Someproperties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and somemay not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed properties thatmay appeal to the same prospective buyers.
Buyer and Seller understand that Broker may represent more than one buyer or seller and even both buyer and seller on the sametransaction.
If Seller is represented by Broker, Seller acknowledges that Broker may represent prospective buyers of Seller’s property and consents toBroker acting as a dual agent for both Seller and Buyer in that transaction.
If Buyer is represented by Broker, Buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring andconsents to Broker acting as a dual agent for both Buyer and Seller with regard to that property.
In the event of a dual agency, Seller and Buyer agree that: (a) Broker, without the prior notice written consent of the Buyer, will not discloseto the Seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written consent of the Seller,will not disclose to the Buyer that Seller is willing to sell property at a price less than the listing price; and (c) other than as set forth in (a) and(b) above, a Dual Agent is obligated to disclose known facts materially affecting the value or desirability of the property to both parties.
NON CONFIDENTIALITY OF OFFERS: Buyer is advised that Seller or Listing Agent may disclose the existence, terms, orconditions of Buyer’s offer unless all parties and their agent have signed a written confidentiality agreement. Whether any suchinformation is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the realestate community, the Listing Agent’s marketing strategy and the instructions of the seller.
Seller and/or Buyer acknowledges reading and understanding this Disclosure and Consent for Representation of More than OneBuyer or Seller and agree to the dual agency possibility disclosed.
Exclusively Represented By:
Matt PowerSenior Marketing Consultant
CA BRE #01252653735 State Street, Suite 416A
Santa Barbara, CA 93101
Jason HeppSenior Marketing Consultant
CA BRE #0145726728494 Westinghouse Place, Suite 101
Valencia, CA 91355
T. 661.702.9080 [email protected]
CalBRE #01225173