Market value on parcel soars 32 percent
BY DENNIS WYATT
The hottest property sale in Manteca so far in 2020 is 2.54 acres on the northwest corner of Airport Way and Daniels Street.
The land was purchased in 2009 by the now-defunct Manteca Redevelopment Agency for $534,743. It was offered for sale on an online auction site last year after the state directed all former RDA property that did not have a project attached to them at the time agencies were dissolved had to be auctioned and the proceeds split between local taxing agencies.
The winning bid for the parcel was $2,905,885 or just over $26 per square foot. That is 32 percent above the pre-auction appraisal value.
“I call it ‘The Great Wolf Effect”,” noted Manteca Economic Development Specialist Don Smail.
That is in reference to the $180 million, 500-room hotel, indoor water park, family fun center, and 12,000 square foot conference center tentatively scheduled to open Aug. 1 along the Daniels Street extension to McKinley Avenue just to the west.
Smail noted the parcel is “the gateway property” to Great Wolf as well as Big League Dreams and the envisioned 100-acre family entertainment zone that the two recreational juggernauts will bookend.
Smail indicated the property buyer is working on a project that will involve several commercial structures. They are already in talks with an adjoining property owner to the north for reciprocal access so customers can drive and/or walk from one project to another.
The adjoining six-acre site is envisioned to have a three story 90-room hotel, a 4,000 square foot quick service restaurant with drive-through lane, a 6,000-square-foot restaurant and 11,640 square feet of retail space.
Across the street and to the north of the Mister Car Wash on property on the southeast corner of Wawona and Airport Way a Rotten Robbie’s gas and convenience store is planned.
The station is proposed for 2.02 acres. It will include 16 pumps including 4 diesel vehicle pumps, a 6,240-square-foot passenger vehicle canopy, and a 4,800-square-foot convenience store. The Robinson Oil Corporation plans to operate the Manteca location 24/7.
Rotten Robbie’s locations are primarily in the Bay Area with Lakeport the farthest north location. The closest Bay Area station to Manteca is in Livermore.
And to the east of the parcel that sold for 32 percent above the appraised price is where Staybridge Suites plans to build a 101-room hotel. The four-story, 75,196-square-foot building with an outdoor swimming pool is proposed for 2.2 acres on the southeast corner of Daniels Street and Fishback Road. It would be in front of the Sizzler restaurant and west of the Arco AM/PM has station-convenience store and car wash located on the northeast corner of the Airport Way and 120 Bypass interchange.
The fact Great Wolf when it opens projects 500,000 guests a year while BLD draws 400,000 plus people annually is a big selling factor for commercial development in the area.
Equally impressive are the demographics. The average household income within a mile of Airport Way and Daniels Street is $99,571 and $85,786 within five miles. The household density within a mile —on a square mile basis — is 857 residents and 832 residents within three miles. There are 1,274 households with children within a mile and 15,291 within three miles.
There are currently 15,000 average daily trips on Airport Way and 10,000 on Daniels Street east of Airport Way. The stretch of Daniels currently dead-ends by Costco.