Listed by Marcus & Millichap | The Patel Yozwiak Group
$7,999,000
Vacant Institutional Facility
Details
APN 070-041-52S
Property Type Industrial, Special Purpose
Sub Type Distribution Center
Square Footage 76,650
Tenancy Vacant
Price per SqFt $104
Year Built 1991
Acreage 21.200
Zoning Light Manufacturing/Business District
Ownership Fee Simple
76,650 SF Complex on 21.20 Acres Adapted for Industrial Use and In Operational Condition
Marketing description
Former Claremont Custody Center: 76,650-SF facility on a massive 21.20 acre lot with concrete block and steel construction. Formerly served as the Claremont Custody Center from 1990-2011 housing inmates awaiting sentencing & relocation to federal & state prisons. Building has also been used as light industrial production facility and is zoned as light manufacturing.
The Property has been featured in Forbes, Rolling Stone & NBC News in 2021-22 for the story of its converted use in interviews with Bob Marley's son Damian Marley. With a functioning cannabis production facility in November 2021, the property appraised for $20.2 million.
Potential uses for the property include: Detention center, private prison or rehabilitation facility, education or dormitory, cannabis or industrial manufacturing facility, distribution center, data center, trucking terminal and more.
Investment highlights
- FORMER INSTITUTIONAL FACILITY: 76,650-SF facility on a massive 21.20 acre lot with concrete block and steel construction. Formerly served as the Claremont Custody Center from 1990-2011 housing inmates awaiting sentencing & relocation to federal & state prisons. Building has also been used as light industrial production facility and is zoned as light manufacturing.
- FORMERLY USED AS CANNABIS PRODUCTION FACILITY : The Property has been featured in Forbes, Rolling Stone & NBC News in 2021-22 for the story of its converted use in interviews with Bob Marley's son Damian Marley. With a functioning cannabis production facility in November 2021, the property appraised for $20.2 million.
- MULTIPLE POTENTIAL USES: Potential uses for the property include: Detention center, private prison or rehabilitation facility, education or dormitory, cannabis or industrial manufacturing facility, distribution center, data center, trucking terminal and more.
- $1.9M IN UTILITY UPGRADES FROM 2017-18: Renovations include upgraded, HVAC sprinkler systems and electrical with 3 new large power stations. The property is also on the Coalinga city water system.
- MINIMAL CAPITAL EXPENDITURE REQUIRED TO RETURN TO OPERATIONAL STATUS: Former 500 bed institutional facility has infrastructure in place for easy relaunch. Fencing, guard stations, housing units and secured corridors remain intact. Detention facility enhancements include 18'+ exterior & 20'+ interior perimeter fencing plus a sally port to securely transfer inmates
- BELOW REPLACEMENT COST: Built at a cost of $12.4 million, replacement cost today is estimated at $40 million.
- STRATEGIC LOCATION: Situated 15 miles from Interstate 5 with direct access to Highway 198. 3 miles from downtown Coalinga and 50 miles from downtown Fresno. Coalinga is 3 hours from both Los Angeles and San Francisco. Proximity to New Coalinga Municipal Airport, Pleasant Valley State Prison and Coalinga State Hospital. Pleasant Valley is a minimum-to-maximum security facility managed by the CA Dept. of Corrections & Rehabilitation (CDCR). The adjacent DSH is a massive, maximum-security psychiatric hospital that houses forensic & civilly committed patients.
- CENTRAL CALIFORNIA AREA: Coalinga is located in Fresno county. The main industries are agriculture, oil, cannabis, education and detention centers. The population of Fresno county exceeds 1 million and is projected to continue increasing.
Listing Contacts
Listed by Marcus & Millichap | The Patel Yozwiak Group
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Zoning
MBL MixedMixed UseLight Manufacturing Business
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