Riverside, CA (PRWEB) December 11, 2007
Omni West Group Inc., a real estate development and property management firm based in Laguna Hills, Calif., announced today it will host an open house on Thursday, December 13, 2007, to celebrate completion of Rivera Industrial Park, an eight-building, 50,000-square-foot complex in Riverside.
The open house, which is open to commercial real estate brokers and sales agents, is scheduled from 12 to 1:30 p.m. at the project site at 485 Rivera Street. Reservations are required. During the open house, Omni West Group will provide tours of the facilities, as well as provide details on a number of sales and lease incentives available to prospective buyers and tenants, including financing up to 100 percent through an agreement with Orange County-based Business Community Capital.
"What makes this project unique is that it offers smaller users all the amenities that are typically only available in big-box units," said Kip Dubbs, president of Omni West Group. "The buildings range from 5,220 to 6,746 which features include mezzanine office, 600 amp, 20-foot warehouse clearances, yard space in some units and dual roll-up doors, which are rare amenities on buildings of this size. Plus, we're offering a number of attractive financing options and other incentives."
According to Joan Darhart, vice president of Business Community Capital, many business people use the equity in their homes or other properties to provide the down payment on their commercial building purchases, but the current mortgage lending situation has severely impacted their ability to access those funds. To alleviate this problem, Business Community Capital will allow the equity in other property to be pledged as additional collateral to support 100 percent financing of their purchase.
The loan will be underwritten using standard SBA lending criteria, eliminating the need for FICO scores or debt to income ratios.
"Using the same equity without making the borrower qualify for a separate mortgage loan will allow for a faster, easier process and help more people qualify, since we do not underwrite our loans in the manner of a mortgage lender," said Darhart.
Other incentives for buyers include savings up to 10% of the asking price, which makes units available for as low as $129 per square foot.
Rivera Industrial Park enjoys proximity to three major freeways - including the 60, I-10 and I-215 - to accommodate the Inland Empire's growing manufacturing, trucking and warehousing sectors.
Rivera Industrial Park is represented by NAI Capital. To reserve a space at the open house, or for sales and leasing information, call (909) 945-2339.
Omni West Group is a privately held commercial real estate firm specializing in retail, office and industrial business parks in Southern California. The company partners with city planners and other government officials to enhance the quality of life in local communities. Omni West Group's real estate expertise includes land acquisitions and development, asset and investment management, entitlement, property management and construction management. For more information, visit http://www.omniwestgroup.com or call (949) 215-9790.