$21.7M Private Resort in California Listed by Marcus & Millichap

CALIFORNIA CITY, Calif., June 30, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the Silver Saddle Ranch and Club (top left photo) , an 80-acre full-service resort in California City.

 The listing price is $21,700,000.

Irwin Woldman, a hospitality investment specialist in the firm’s Encino office, is representing the seller.

“Membership in the Silver Saddle Ranch and Club is private and controlled,” says Woldman. “Each member has purchased a single-family lot nearby, which allows them to join the resort and club. The offering includes more than 900 lots and 1,000-plus undeveloped acres surrounding the resort.”

The property is located at 20751 Aristotle Drive at the foot of the Sierra Nevada mountain range. The 20 Mule Team Parkway, a main thoroughfare, leads from California City’s main business district to the resort.

The Silver Saddle Ranch and Club features a hotel with spa, salon, restaurant, bar and offices.

 The hotel has 45 rooms, including three fully appointed executive suites and eight bungalows with private patios.

Amenities include a family pool, an adults-only pool, a driving range, game room, adult and children’s recreation rooms, exercise room and outdoor seating/barbecue area. Meeting rooms with audio-visual capabilities and a kitchen are also available.

Outdoor recreation at the resort includes miniature golf, bicycling, boating, horseback riding, camping, archery, trap and skeet shooting, picnicking, rock hounding, playing horseshoes and bird watching.

Corporate Spending, Manufacturing Gains to Bolster U.S. Industrial Sector 

ENCINO, CA – While industrial vacancies will remain elevated through year-end 2010, the economic recovery will stabilize property performance and set the stage for modest improvement next year, according to a new report issued by Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm.

“Future economic expansion will be driven by personal and corporate spending, which were the primary drivers of GDP growth during the first quarter of 2010,” says Alan Pontius, managing director of the firm’s National Office and Industrial Properties Group. “As private consumption resumes, business will be encouraged to replenish depleted inventories in anticipation of further increases in demand, albeit at a slow pace.

“Manufacturing continues to post gains, which will also bolster a 2011 recovery in the industrial property sector,” explains Pontius.

"The manufacturing sector grew for the 10th consecutive month during May, driven by continued strength in new orders and production.

According to the Special Industrial Research Report, employment growth will be a crucial component in buoying consumer sentiment and supporting spending, and while recent payroll additions have exceeded expectations, it will take years for the economy to recover the 8.4 million jobs lost during the recession.

Recent positive economic developments have yet to translate into heightened tenant demand for industrial space, as many tenants have more space than they need.

Widespread improvement in the industrial market will likely not occur until 2011 and 2012, when more robust economic and employment growth will take hold.

The report contains the National Industrial Index (NII), which ranks 27 of the nation’s industrial markets based on a various factors, including projected employment changes, construction, net absorption, revenue change and vacancy. Houston, Los Angeles and Denver are the top three markets, while Tampa, Atlanta and Detroit rounded out the bottom of the list.

For a copy of the Special Industrial Research Report from Marcus & Millichap, please log on to http://www.marcusmillichap.com/.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716