19318 Jesse Lane
Attractive Owner-User Office w/ Ultra High-End Improvements | Riverside, CA
Marketing description
STRONG OFFICE MARKET FUNDAMENTALS
►LOWEST OFFICE VACANCY IN U.S. | The Inland Empire consistently outperformed other office markets in the country and held the lowest vacancy rate for the past five quarters, averaging a 9.1% vacancy rate during that timeframe. As of the third quarter 2024, vacancy has declined to 7.9%.
►THRIVING ECONOMIC ACTIVITY | The Inland Empire, a region whose $213-billion economy is equal to that of the state of Utah, has been Southern California’s best-growth market for several straight years, averaging 5.2% each year, per the Federal Reserve. The Inland Empire’s population is Southern California’s second largest, fueled by a growth rate that is almost 4 times more than the rest of the region since 1990.
ATTRACTIVE RIVERSIDE LOCATION WITH EXCEPTIONAL REGIONAL ACCESS
►DESIRABLE OFFICE LOCATION | The property enjoys a prominent location near the I-215/SR-60/SR-91 freeway interchanges that connect the Inland Empire to Orange and Los Angeles Counties. Only minutes away is the prestigious University of California, Riverside (UCR), ranked 36th among Top Public Universities in the United States by U.S. New and World Report. The landscape of Riverside is evolving with many developers, companies, and investors recently seeing the untapped potential and opportunities throughout the city.
►INCREDIBLE SOCAL DEMOGRAPHICS | More than 12,000 people in a 1-mile radius with an Average Household Income exceeding $163,200. More than 55,000 people in a 3-mile radius with an Average Household Income exceeding $167,600. More than 175,800 people in a 5-mile radius with an Average Household Income exceeding $129,700.
Investment highlights
ATTRACTIVE RIVERSIDE OWNER-USER OFFICE OPPORTUNITY
►ATTRACTIVE OWNER-USER OPPORTUNITY | 19318 Jesse Lane presents a rare opportunity for an owner-user to acquire a high-image, 17,263 sq. ft. office building in the Inland Empire, the top performing office market in the United States.
►FUNCTIONAL OFFICE SPACE | An owner-user can immediately occupy the entire 2nd floor of the building consisting of 8,672 sq. ft. or spread throughout the building by occupying the vacant ground floor space comprised of 3,477 sq. ft. in addition to the vacant 5,519 sq. ft. suite on the second floor for a total of 8,996 sq. ft.
►CORPORATE BUSINESS PARK ENVIRONMENT | The 2-story office building is equipped with well-designed floorplans, modern finishes, incredible natural light, and good walkup building access. The property sits within the Silver Oaks Business Park, a well-manicured, 6 building business park located on the highly trafficked corner of Trautwein Road and Jesse Lane (over 17,000 vehicles per day).
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