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TABLE 2 <br />COMPARABLE LAND SALES <br />PROPOSED SAN LEANDRO AUTO CENTER <br />SAN LEANDRO, CALIFORNIA <br />CITY OF SAN LEANDRO REDEVELOPMENT AGENCY <br />Sale Price (1) <br />Area SF <br />Comn <br />LocatIONAPN <br />Sale Date <br />Acres) <br />Zonina <br />Shape <br />1 <br />Northeast comer of Balentine Drive <br />S4,837,809 <br />569.329 <br />CR <br />Irregular <br />and Cedar Boulevard <br />100.000 <br />(13.07) <br />Newark, CA <br />$4,937,809 <br />901-0195-004. 005, 007 <br />901-0195-008 (portion) <br />Feb-94 <br />2 <br />Northeast corner of John Muir Drive <br />$2,000,000 <br />187,308 <br />CR <br />Irregular <br />and Balenhne Drive <br />(4.30) <br />Newark, CA <br />Nov-93 <br />901-0195-011 thru 017 <br />3 <br />400 Stutz Way <br />$560,000 <br />87.120 <br />CT <br />WA <br />Gilroy, CA <br />(2.00) <br />8414%4)20 <br />Oct-93 <br />4 <br />East side of Barber Lane, east of I -SW. <br />$2,353.032 <br />130,724 <br />MP <br />Irregular <br />southeast of Bellew Drive <br />(3.00) <br />Milpitas, CA <br />Dec-92 <br />086-01-021. 022 (portion) <br />5 <br />Southwest side of Auto Mall Circle, <br />$201.000 <br />21,700 <br />IR <br />Rectangular <br />southeast of Durham Auto Mall Parkway <br />(0.50) <br />Fremont, CA <br />Feb-92 <br />531-223-014-00 (portion) <br />531-223-015-00 (portion) <br />6 <br />Auto Mall Circle, east of Cushing <br />$5,636,000 <br />688,248 <br />I-R <br />Basically <br />Parkway <br />(15,80) <br />rectangular <br />Fremont, CA <br />Aug-90 <br />531-220-4-1, 4-6 and 5-2 (portion) <br />7 <br />Southwest comer of Durham Auto Mall <br />$3,711.965 <br />459,558 <br />I-R <br />Basically <br />Parkway at Auto Mall Circle <br />(10.55) <br />rectangular <br />Fremont, CA <br />Aug-90 <br />531-185-4-6, 5.2 <br />531-220-4-1 (portion) <br />Notes: (1) Sales price including bonds. <br />Source: Comps, Inc. <br />Prepared by: Keyser Marston Associates, Inc. <br />Filename: CAEXCEL\SANLEAND\SANLAUTO.XLS; 3/29/96; VVCM. <br />Price/SF (1) Planned Use <br />Comments <br />$8.67 Buick/Cadillac, <br />All cash sale of a vacant site adjacent to the New Park <br />(2.00) Saturn and other <br />Mall by Nimitz Motors, a GM subsidiary. Reportedly <br />$6 67 GMC dealership <br />the City of Newark agreed to give GM a sales tax <br />to be determined <br />rebate of $1.50-2.00/SF. GM assumed assessment <br />bonds of approximately $100,000, or $0.18/SF. CB <br />Commercial is marketing adjacent 7 acs. @ $9 00/SF. <br />$10.68 20,000 SF Pontiac/ <br />Sale of seven commercial lots with freeway visibility to <br />(2.00) Oldsmobile/GMC <br />a GM subsidiary from a large landowner in the area. <br />$8.68 Truck dealership <br />Reportedly, the City of Newark agreed to give GM a <br />sales lax rebate of $1.50-2.00/SF. <br />$6 43 25,000 SF <br />Sale of a vacant site to the owners of South County <br />auto dealership <br />Chrysler. Buyers will lease 1.22 additional adjacent <br />building <br />acres for two years with option to purchase. <br />$18.00 Chevrolet <br />The City of Milpitas Redevel. Agency reportedly paid <br />(8,00) auto dealership <br />18/SF for this vacant site and then transferred it to <br />$10.00 <br />Billings Chevrolet, The Redevel. Agency and Billings <br />had a prior split sales tax revenue agreement that <br />would rebate the equivalent of $8/SF to Billings. Thus <br />Billings acquired the site for the equivalent of $10/SF. <br />Terms of the agreement were reportedly negototiated <br />in 1989. land values have declined significantly since. <br />$9.26 Continue use <br />All cash sale of a BMW dealership lot at the proposed <br />as a BMW <br />Fremont Auto Mall. Sales price was reportedly <br />dealership <br />agreed upon 1.5 years prior to sale on an option to <br />purchase agreement This was part of the original <br />4.11 acre purchase made by the buyer on 8/81/90. <br />Buyer already owns adjacent 4.11 acres. <br />$8.19 5 Auto <br />Sale of five vacant parcels by Catellus Development <br />sales/service <br />Corp. to Hank Torian at the proposed Fremont <br />buildings <br />Auto Mall. Five assessments to each parcel were <br />carried by the seller and will be paid by the City if <br />a certain sales volume is reached. Gross acreage of <br />17.46 acres, or $7.41/SF. <br />$8.08 52,000 SF <br />Sale of a vacant site by Catellus Development Corp. <br />Auto sales/ <br />at the proposed Fremont Auto Mall. Buyer <br />service facility <br />plans to build a dealership on half of the site and <br />with 6.000 SF <br />hold the other half as an investment. Assessments to <br />2nd floor office <br />each parcel were carried by the 2nd seller and will be <br />paid by the City if a certain sales volume is reached. <br />Gross acreage of 11.5 acres, or $7.41/SF. <br />