Case Studies

The subject property consisted of three buildings. The site was situated on two parcels of land with the largest of the 3 buildings located on one of the two parcels. The property was zoned Mixed Use for retail, warehouse, light industrial and light manufacturing. This variation of zoning and the location of the site made selling this property a challenge.

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In 2010, the principals and management team of Veros and Credit One Corporation launched Veros Credit, a privately held automotive finance company that specializes in the acquisition and servicing of non-prime and sub-prime motor vehicle retail installment contracts from its network of franchise and independent automobile dealers.
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The Chino Basin Desalter Authority (CDA) was formed as a Joint Powers Authority in February 2002 to manage the production, treatment, and distribution of highly treated potable water to cities and water agencies throughout its service area. CDA is composed of the following eight member agencies: Inland Empire Utilities Agency (IEUA), Jurupa Community Services District (JCSD), City of Chino, City of Chino Hills, City of Ontario, City of Norco, Santa Ana River Water Company (SARWC), and Western Municipal Water District (WMWD).

The CDA facilities include two desalters, supply wells for each desalter, two reservoirs, raw water pipelines, potable water pipelines, potable water pumping facilities, and pipelines for brine disposal. Fifteen supply wells feed the Chino I Desalter and eight supply wells feed the Chino II Desalter. As of June 30, 2007, the total value of the CDA net plant was $131.3 million.

Chino Valley Business Center is a multi-tenant business park consisting of seven commercial buildings totaling 78,528 square feet. Tenants had been going out of business and leaving empty suites at the Center due to the recent poor business economic conditions. The Center owner was finding it difficult to replace them with new qualified Tenants. They had done the leasing in-house for years, but at the beginning of 2011 knew they needed to do something different to turn around the increasing vacancy.

Steven D. Roppel, an active commercial real estate agent in the area, had previously represented several Tenants to lease at the Center and other local properties with the same ownership. At the beginning of 2011, the building owner agreed it would be a good fit if Mr. Roppel were to market Chino Valley Business Center for them.