VH Plaza LLC

A New Neighborhood Shopping Center in Bakersfield, CA

Call (323) 833-9313

Fax (323) 664-5034

Description

V Heritage Plaza is a new Neighborhood Shopping Center in Bakersfield, Ca. under Construction with two phases. Total combined square feet of the two phases is planned at +/-162,000 square feet. The first of two phases for this 15 acre neighborhood center is under way, with +/-30,934 Square Feet of building complete and awaiting tenants. Multiple spaces are available starting at +/-1,105 Square Feet to +/-30,934 Square Feet. This project is located in an Enterprise Zone and offers fantastic tax breaks for retailers! Call about tenant improvements.

Project is located on South Union Ave. about 0.2 miles south of Planz Rd.

This property consists of approximately 35,000 sq. ft.building with 30,920 sq. ft. net leasable of unfinished retail space in shell form, estimated at 75% completion on 15.49 acres zoned M1 -2.

Property Overview

The subject site consists of 4 subdivided lots into 8 lots with a preliminary tract map recorded with DRE totaling 15.49 acres zoned M1-2 industrial with a +/- 30,920 sq. ft. net leasable retail building. All lots have been entitled with plans approved and permit applications. All pads have been cut, compacted, preliminary graded, and drainage completed.

Improvements to the lot include:

  • +/- 30,920 sq. ft. building approximately 75% complete- A 12 unit building with 15,000 sq. ft. anchor.
  • 11 units pre leased (55%), fenced, pads cut for the remaining 7 buildings to be built, light pole bases poured in place and wired for Phase 1. (4 Buildings facing Union Ave)
  • Sump dug out for entire 15.49 acres
  • Available Sewer
  • Available Water
  • Available Electricity
  • Available Phone

Strengths:
Partially constructed vanilla shell building, with 7 more lots entitled, architectural plans and engineering completed- ready to build.
Visible parcel
S. Union and Chester Ave. 19,757 AADT (S. Union) + 4,500 AADT (Chester)

Highest and Best Use:

  • Shopping Center
  • Retail
  • Industrial

Market Value:
The maximum value for this property will be realized by a sale to a developer or investor that plans to capitalize on the benefits of this specific location, and complete the construction of the shopping center.

Market Overview:
The property is located in South East Bakersfield, which is in Kern County. This is an older industrial area of town consisting of small business, retail, and industrial space. Lots of new homes and changing demographics have created new demand for developable land in the area, and for new shopping and service centers.