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Eastvale Continues Contract With The Riverside County Sherif’s Department And Pursues Economic Development For New Revenue Opportunities

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EASTVALE, CA – Diversity in thoughts and opinions is what helps create a healthy and vibrant community.  The evolution, growth, development, and future of our young city ultimately relyon the tough yet crucial conversations, such as the topics mentioned below, that we have been having as a community.  In an effort to remain fiscally responsible and to provide the best customer service experience to our residents and businesses, the City of Eastvale continually evaluates the best services for the best value. The suggestions that came out of these topics are a result of the City of Eastvale’s robust community engagement efforts and strategic plan.  The City of Eastvale’s strategic plan can be found at: http://bit.ly/eastvale-strategic-plan.

Eastvale Continues Contract with the Riverside County Sheriff’s Department & Evaluates Law Enforcement Substation

About a year ago, with the projection of historical rate increases of 7-9 percent, Riverside County discussion of putting more law enforcement  costs  on  local  agencies,  continually  hearing  from  residents  that  they  would  like  an  increases  law  enforcement presence, along with the City of Menifee conducting a Feasibility Study to create their own Police Department, the City of Eastvale evaluated whether it made sense to form its own police department as a way to direct policy establishment, ease of information distribution, and leverage local resources.  There were many opportunities for public input on public safety priorities to include: the Public Safety Budget Workshop in March 2019, the City Council Meeting in March 2019, the Public Safety Commission Meeting in March 2019, the Public Workshop for Public Safety Priorities to include a Facebook Live event in July 2019, and at the City Council Meeting on September 25, 2019.

In the end, Sheriff Chad Bianco was ultimately able to reduce the projected rate increases and created a command staff to work with City Managers and County staff to identify future saving opportunities.

At the City Council Meeting on Wednesday, September 25, 2019, the City Council provided direction to not pursue creating a local police department at this time. The City of Eastvale is hopeful that the Riverside County Sheriff’s Department continues to collaboratively explore ways to keep rates low and identify ways to align their services with our unique values and needs.

The City Council also provided direction to explore opportunities to build a law enforcement substation within Eastvale city limits.  Some of the advantages of having a substation in Eastvale are that deputies could be able to report directly to Eastvale, potentially improving response times and coverage. A law enforcement substation can also help our residents have a greater connection to the local deputies that serve our community.

A potential location option for a law enforcement substation is at the intersection of Riverboat Drive and HamnerAvenue.  Fire Station 27, just south of this intersection has surplus land that could be leveraged as a potential law enforcement substation with the vacant adjacent parcel. This site could allow opportunity for a unified public safety command center by locating a law enforcement substation next to Fire Station 27.

Eastvale Pursues Economic Development for New Revenue Opportunities

The City of Eastvale explored a financial priorities discussion with the City Council and the community to gain a better understanding on what and when the community desired the City to deliver enhanced services, programs, and projects such as a Civic Center (City Hall and Public Library), Enhanced Public Safety (Law Enforcement and Fire Services), and infrastructure (roads, trails, traffic signal synchronization, etc.). There were many opportunities for public input on financial priorities to inlcude:  the Public Safety Budget Workshop in March 2019, the City Council Meeting in March 2019, the Public Safety Commission Meeting in March 2019, the Public Workshop for Financial Priorities to include a Facebook Live event in June 2019, and at the City Council Meeting on September 25, 2019.

At the City Council Meeting on Wednesday, September 25, 2019, the City Council provided direction to focus on Economic Development to enhance revenues to provide services to the community.  The City Council also provided direction to not pursue a sales tax measure on the ballot at this time.  As a result, the City Council approved a Business Incentive Loan Policy to help attract and expand businesses within Eastvale.

In Eastvale, there is a $71-million-dollar sales tax leakage in the food and beverage industry, which equates to approximately $713,000 in potential sales tax revenue each year; if each dollar spent is taxable.  When residents are eating outside of our city, that money is going to other communities and contributing to services those cities provide for their residents.  We want to create opportunities for our residents to stay in Eastvale and eat local.  The City also has an opportunity to create unique dining experiences that help attract others from throughout the region.

In order to capture that potential revenue, the City will need to enhance and diversify restaurant choices and options.  In our recent Community Satisfaction Study, when residents were asked what would enhance the quality of life for them, elevating dining was one of the top responses.  It is the City’s goal to create a food destination and experiences.  In addition to attracting and recruiting restaurants to Eastvale, the City of Eastvale is committed to recruiting businesses that will create a broad base of revenue for our city by means of sales tax, property tax, transient occupancy tax, and job creation. These revenues can allow the City to enhance and provide our residents with quality services they need and deserve.

The City of Eastvale is also thrilled to share we have several new restaurants and a hotel opening within our cityand we will have many more to announce in the coming months. The City Council Restaurant Ad-Hoc Committee and City staff are working collaboratively with our development and broker community to recruit and attract restaurants that will exceed Eastvale’s expectations.

About the City of Eastvale

The City of Eastvale was founded on October 1, 2010 as an independent local government agency, governed by a five-member, elected City Council.  The City of Eastvale serves over 73,700 residents and encompasses 13.1 square-miles in western Riverside County.  The City is strategically poised between Interstate 15 and California State Routes 91, 60, and 71, making access easy for residents, visitors and businesses alike.  Eastvale is a young and dynamic community filled with economic opportunity, tremendous growth, and strong values.  For more information on the City of Eastvale, please visit: www.EastvaleCA.gov

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

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Stockbridge Acquires 540,478 SF Inland Empire Industrial Portfolio for $142MM

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San Francisco based Stockbridge acquires 100% leased assets in premier IE West location

Cushman & Wakefield’s EDSF also sources acquisition financing for transaction

Cushman & Wakefield announced the firm has arranged the sale of a core industrial portfolio totaling 540,478 square feet in Southern California’s premier Inland Empire West (IEW) submarket. The portfolio consists of two freestanding Class A buildings located a few miles apart at 3351 E Philadelphia St and 4450 E Lowell St in the city of Ontario. The buildings are 100% leased to prominent tenants in the distribution and retail industries.

San Francisco based Stockbridge acquired the two-property portfolio from Principal Asset ManagementSM a global financial and investment management firm. The portfolio sold for $142.25 million.

Jeff Chiate, Jeffrey Cole, Rick Ellison, and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group—West represented the seller in the transaction. The firm’s Phil Lombardo, Chuck Belden and Andrew Starnes also provided leasing advisory.

Additionally, a Cushman & Wakefield Equity, Debt & Structured Finance (EDSF) team of Rob Rubano, Brian Share, Joseph Lieske, Max Schafer, and Becca Tse collaborated in sourcing acquisition financing for the transaction.

“Stockbridge has acquired an institutional-quality industrial portfolio with a phenomenal infill location combined with strong tenancy and premium distribution features and functionality. Both properties have maintained a historical occupancy of 100% for nearly a decade speaking to the tenant demand for industrial buildings of this quality and location,” said Jeff Chiate, Executive Vice Chair. “Additionally, with current rents below market rate, the buyer has a compelling mark-to market opportunity along with existing durable cash flow, providing a variety of value-add strategies.”

The properties offer convenient access to Southern California’s robust freeway network and other vital nodes of transit such as Ontario International Airport, the Los Angeles & Long Beach Ports, and LAX International Airport (60 miles). Access to a deep labor pool and robust consumer population also makes the region a superior industrial location.

According to Cushman & Wakefield’s latest industrial market report, the Inland Empire West submarket had a vacancy rate of 5.4% in Q1 2024, representing the tightest submarket in the broader Inland Empire market. Additionally, IEW achieved nearly 1 million square feet of positive net absorption (occupancy growth) in the first quarter of 2024.

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Stater Bros. Charities and Reyes Coca-Cola Bottling Give Back to Military Families

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Stater Bros. Charities, the philanthropic arm of Stater Bros. Markets, partnered with Reyes Coca-Cola Bottling again this year for their Give Back program during National Military Appreciation Month. The program ran for the entire month of May, during which Reyes Coca-Cola Bottling committed to donating $0.25 per eligible product purchased to the Bob Hope USO. Reyes Coca-Cola Bottling donated $15,000, and Stater Bros. Charities matched their donation for a total contribution of $30,000.

A check presentation occurred during a K-EARTH 101 radiothon benefiting the Bob Hope USO. The radiothon took place at the Bob Hope USO at LAX (Los Angeles International Airport) on June 29, 2023, where Stater Bros. Charities and Reyes Coca-Cola Bottling presented Bob Hope USO with a $30,000 check.

Bob Hope USO’s mission is to strengthen America’s military service members by keeping them connected to family, home and country, throughout their service to the nation. The Give Back program is a unique opportunity to show gratitude and support to the brave men and women who risk their lives for our freedoms and to care for their families while they are away from home on deployment.

“Stater Bros. Markets has a long history of supporting veterans, service members, and their families,” said Danielle Oehlman, Director, Stater Bros. Charities. “We are so pleased to partner with our friends at Reyes Coca-Cola Bottling and the USO to give back to those who have given so much for us.”

Lorin Stewart, President, USO West Region, said, “We are deeply grateful to Stater Bros. Charities and Reyes Coca-Cola Bottling for being sustaining partners of the USO. The Give Back program embodies the essence of the USO mission by enabling the community at large to come together to support and give thanks to our armed forces and their brave military families in an impactful way.”

Funds will support the Bob Hope USO and USO San Diego Center operations, including programs and services that strengthen the social, mental, physical, and emotional well-being of local military service members, their families, and their communities.

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BDK Logistics Intelligence Fully Leases 114,190 SF Industrial Facility in Corona, CA

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Cushman & Wakefield represents landlord in lease in SoCal’s Inland Empire

Cushman & Wakefield announced that BDK Logistics Intelligence, Inc. has signed a lease for an entire 114,190-square-foot industrial facility at 1161 Olympic Drive in Corona, California. Situated in Southern California’s renowned Inland Empire, the building is owned by Monterey Rancho Mirage, LLC, which was represented by Brett Lockwood and Rick Ellison of Cushman & Wakefield in the transaction.

“We are pleased to welcome BDK to the property as a quality industrial tenant that is expanding its presence in the market, which it also currently occupies multiple warehouse facilities,” said Director Brett Lockwood. “Our client was instrumental in helping this deal transact as there were many variables that needed to be navigated which led to this lease coming together quickly and successfully.”

1161 Olympic Drive is a quality freestanding building situated on ±4.8 acres and features 20 dock high loading doors. The property is conveniently located off Interstate 15 near the confluence of SR 91 and is proximate to the extensive freeway network traversing the entire Greater Los Angeles region and into other major markets in and out of state.

According to Cushman & Wakefield’s latest Q2-2023 quarterly report, the Inland Empire industrial market posted an overall vacancy of 3.4% and has recorded more than 2.7 million square feet of positive net absorption through the first half of 2023.

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