Commercial Real Estate in Norco, California

Recreation

• The SilverLakes Sports Complex at 5555 Hamner Ave is the big news in Norco!  It is a 150-acre equestrian and soccer complex containing 24 soccer fields, 5 equestrian arenas, a 12,000 sqft outdoor cafe, and a 10,000 person concert facility.

  

  SilverLakes brings over 1.5 million visitors a year to Norco.  When the facility is completed, it will be estimated to bring 3,000,000 visitors each year!  Norco only has 27,000 residents, so SilverLakes brings a tremendous amount of traffic to the city, which helps local businesses.  Restaurants have reported a spike in activity on weekends where there are soccer tournaments taking place at SilverLakes.

• The FieldHouse is a restaurant within SilverLakes that has a private banquet facility for 200 people.
• Future developments include a lit stadium with a 5,000-seat capacity, and an indoor sports facility.

Retail

• Lewis Retail Centers’ Norco Village is open! It is a 125,000 square foot neighborhood center anchored by a new state-of-the-art Stater Bros and CVS.  It is located at the corner of Corydon St. and River Road.  Other tenants in the center are Starbucks, El Pollo Loco, Miguel’s Jr, Waba Grill, and the UPS Store.  As a result of this center opening, the Stater Bros at River Rd. and Second Street has closed.

  

• A retail development is being planned for the Southeast corner of 6^th and Sierra Ave, close to the I-15 freeway, next to the 76 Gas station. This development will have a Grocery Outlet supermarket as well as a Taco Bell, with 6,000 SF of shop space available to be leased.

  

• Dollar Tree will be moving into the former Walgreens space on Hidden Valley Rd. near the 15 freeway.
• Fazoli’s is back! The Italian restaurant with a cult following is back in Norco, occupying its former space that was recently vacated by Five Guys.
• A conditional use permit has been issued for a new Arco gas to occupy the land parcel at Hidden Valley Parkway and Corona Avenue.  This land was formerly zoned as residential.  As a result of the development, Corona Avenue will be blocked off to prevent access from Hidden Valley Parkway.
• Another gas station is being built at the southwest corner of Hamner Ave. and Town & Country St.

Hospitality

Largely as a result of SilverLakes, there has been a lot of interest from hotel developers as well as within Norco to bring more hotels.  

Here are the new hotels that will be built in the near future.

• A tru by Hilton hotel is planned to be built on the vacant land north of Fairfield Inn & Suites.

• Plans have been approved for a Holiday Inn Express to be built at the Southeast corner of Hamner Ave. and 5th Street.  In keeping with Norco’s “Horsetown USA” style, the Holiday Inn Express will feature Western-style landscape design.

• A new Woodspring Suites (a Choice Hotels brand) with 120 rooms is nearing completion at on Hamner Ave just north of Brake Masters. The project is expected to be complete by September 2019.

The City of Norco is actively seeking hotel developers and believes that there is room for at least 3 more hotels to be developed in the City.  Please let me know if you know of anyone who would be interested in developing a hotel for this dynamic area!

Infrastructure

Hamner Ave. Bridge – The existing Hamner Ave. bridge will be lengthened widened to ease traffic on Hamner Ave. and provide a viable alternative to I-15.  The total project is estimated to cost $56MM. Estimated completion will be in 2022.

Here is a comparison of the current bridge with what is proposed.

Learn more at: http://tinyurl.com/hamnerbridge

New widening of I-15: Two tolled express lanes are in the process of being added in each direction between Cajalco Rd. on the south end to CA Rt-60 on the north end. Construction is underway, and the lanes are projected to be open in mid-2020.  The new lanes will be built along the existing median of  I-15, so that land will not have to be reclaimed from private owners.  Learn more at http://www.i15project.info