empire biography & summary portfolio

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Empire Realty Group, LLC 12100 Wilshire Blvd. 8 th Fl Los Angeles, CA 90025 (310) 806-9380, (510) 588-4041 fax Developer Resume and Sampling of Recent Projects

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Page 1: Empire Biography & Summary Portfolio

Empire Realty Group, LLC 12100 Wilshire Blvd. 8th Fl

Los Angeles, CA 90025 (310) 806-9380, (510) 588-4041 fax

Developer Resume and Sampling of Recent Projects

Page 2: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

12100 Wilshire Blvd. 8th Floor Los Angeles, CA 90025

(310) 806-9380, (510) 588-4041 efax [email protected] e-mail address

About The Developer Empire Realty Group, LLC

Empire Realty Group, LLC, is a privately held statewide real estate development and investment company founded by and under the leadership of Linnard Lane since 1995. Empire and its members have a combined hands on experience of 67 years in all aspects of retail real estate development, leasing, investment, finance, retail brokerage, and asset management producing over 155,000 square feet of stores for Starbucks Coffee, FedEx Office, AT&T, Petco, TGI Fridays, Applebee’s, Addison Ave. Federal Credit Union, Michael’s Stores, Linens N Things, Wachovia Bank, Peets Coffee, Chipotle, Jamba Juice, Payless Shoe, Game Stop, Metro PCS, Quizno’s, Taco Bell and others. Notable developments include a 90,000 sf power center located at the main entrance to Union Landing, a nearly 1,000,000 square foot Entertainment/Lifestyle retail center in the San Francisco bay area community of Union City, California anchored by a 153,000 sf WalMart, Lowe’s, Best Buy, Kids R’ Us, Sportmart, Albertsons, and a 25 screen Century Theatre, two multi story mixed use buildings in San Jose across from Valley Fair Mall and on the Petaluma River waterfront. It is the combined talent, resources and capabilities of its members that make Empire Realty Group a specialist in its field.

In addition to developing and remodeling properties for its own account, Empire also performs a great

deal of “Merchant Development” that facilitates the growth and expansion of retail and restaurant brands across California. Empire closely works with and is retained by national and regional retail store chains on a preferred developer basis giving it exclusive rights to acquire and develop assigned properties on their behalf and aid in the strategizing, planning and execution of rolling out their retailer clients expansion plans. Empire has performed such services in the past for Blockbuster Video, FedEx/Kinko’s, and Noah’s Bagels, and continues to enjoy that relationship today with Starbucks Coffee, Chipotle Mexican Grill as well as a few regional concepts helping to aid their in house personnel and exclusive brokers in site location, market strategy and research, acquisitions and entitlements, project budgeting, construction management and store delivery. Empire is currently developing contract assignments with other retailers in addition to developing projects for its own account.

Empire also leverages its real estate development services platform for third party property owners and

asset managers as well. Development Services can mean different things to different people but to us, it means applying our long-term experience to: maximize an assets current value, create sustainable future value, and prevent potential project problems from becoming real problems. One such recent project involved the repositioning of a retail project Empire retained the property management on since selling it to its current owner over 10 years ago. Empire devised and executed a strategy to downsize an existing 6,000 sf store currently occupied by FedEx Office to a 3,450 sf space and leasing the balance of the space to Chipotle and created two new 10 year leases with escalations and increased the buildings overall annual net rentable by $59,000. Empire has the personnel, experience, and relationships to help its clients with any development project. Our approach is consultative and collaborative followed by swift execution. Our services are available as the client needs them and in whatever combination. We select, coordinate and drive our team members to make our clients goals a reality. Empire provides a one stop shop/single point of contact for the client and guides the process through establishing business and project plans, preparing project financial proformas and what if scenarios, conducting feasibility and due diligence assessments, meeting and performing architectural requirements, processing all governing agency entitlements, underwriting, bidding, and awarding construction contracts, construction management (start-to-finish), property management, asset liquidation and risk mitigation—singly or in any combination.

Page 3: Empire Biography & Summary Portfolio

Empire possesses intimate knowledge of local retail markets and trade areas throughout California and maintains relationships with most of the local and regional major retail leasing and investment brokerage houses throughout the San Francisco Bay Area and Southern California. It has also enjoyed and negotiated numerous joint venture relationships with nationally recognized institutional equity sources, regional and national conventional banking relationships and other sources of private equity capital investment.

Linnard Lane Linnard Lane, Empire’s Managing Member, has over 30 years of extensive transactional and operational business experience in all aspects of retail property development, including site selection & acquisitions, market strategy & planning, project feasibility & financial analysis, leasing, sales, permits & entitlements, and construction management. Over his career, Linnard has been responsible for producing over 543,000 sq. ft. of lease transactions valued at more than $136 Million, the acquisition and development of over 130 shopping center and free standing retail properties, managed six development teams simultaneously (real estate, leasing, design, construction, legal, broker network) producing over 138 new store openings for retailers and restaurants, raised and structured $21.5M of public debt and municipal financing instruments with local governments through public/private partnerships, and has supervised to on time completion $1M - $20M project budgets.

Linnard began his career in retail development in 1981 for one of California’s largest retail real estate development companies, La Mancha Development Company based in Los Angeles. Since 1972, La Mancha has been responsible for the development of over 800 strip shopping centers primarily throughout California, Arizona, and the western US. By 1984, as its Director of Real Estate for Southern California, he was personally involved in the acquisition, development, and leasing of over 74 shopping centers throughout the Los Angeles, Orange, San Bernardino, Riverside and Ventura County trade areas. In addition he supervised the leasing of over 223,000 sq. ft. of lease transactions and managed the company’s 54 shopping center portfolio covering 140 stores and directed all property management and lease administration department staff.

By mid 1985, after conducting local and statewide market analysis and trade area studies to identify new growth opportunities outside of Southern California, Linnard spearheaded the opening of and became La Mancha’s Northern California Division Manager directing all of its development activities including marketing, construction, leasing, and acquisitions producing over 45 new ground up shopping centers covering approximately 288,000 sq. ft. and leases with Blockbuster and Hollywood Video, Little Caesars and Dominos Pizza, Barnes and Noble, 3Day Blinds, Payless Shoes, 7-11, Office Max, Kragen Auto among others. He also developed additional relationships with various local and county governmental agency members as well as a network of 3rd party leasing and Investment brokerage houses, general contractors, architects, escrow and title companies which he still maintains today.

In 1995, Linnard founded Empire along with one of the states largest and most successful retail tenant representation brokerages with offices in San Francisco, Ventura, Los Angeles, and San Diego creating a boutique real estate firm which has now grown into a full service commercial real estate company specializing in retail real estate development, leasing, property management and advisory services. Empire’s mission was and still is to facilitate the expansion of established national and regional lifestyle and urban infill retail and food service clients in the California marketplace.

Since Empire’s beginnings, Linnard has managed and participated in all phases of the store and shopping center development lifecycle and leads in addition to its own forces, a network of experienced team members including leasing specialists, general contractors, architectural, engineering and environmental consultants, finance and legal professionals with specialized knowledge in various practice areas and has developed numerous relationships over the years with city and county planning staffs, redevelopment agencies and city council people all over California. He has appeared before numerous local, county and state agencies and commissions public hearings in the presentation and acquisition of various project entitlement requests.

Page 4: Empire Biography & Summary Portfolio

He has been retained by the cities of San Leandro and Union City redevelopment agencies to advise on downtown core developments and received the Design of Excellence award from the city of San Leandro for best adaptive reuse of one of its central core downtown developments and the Cultural Heritage award from the Stockton City Council for its redevelopment project near the University of the Pacific. He also consulted with the Town of Los Gatos on a design charette to help revitalize its main shopping strip of Los Gatos Blvd. Some of Mr. Lanes other notable entitlement and government agency accomplishments include negotiating with the City of Oakland to terminate condemnation proceedings to acquire land Empire was currently developing and was successful in getting the City of Mountain View to suspend a 19 month development moratorium as it applied to an impending Empire project. He also negotiated the successful funding of a forgivable $800,000 Tax Incremental Owner Participation Loan with the Redevelopment Agency of Union City, CA that was paid off 5 years early and closed a Disposition and Development agreement and subordinate $700,000 loan from the City of San Leandro Redevelopment Agency in connection with a city redevelopment project, it too was retired early and created a profit for the city. Linnard was also directly responsible for successfully orchestrating the assemblage and supervision of the $5M environmental remediation of a 9 acre brownfields site resulting in the 16 month concurrent development of a 90,000 sf power center, Empire Pointe, anchored by Petco, Michael’s Stores, Linens N Things (now Smart & Final) with outpads containing Applebees, TGI Fridays, Chipotle, FedEx, AT&T, and Payles Shoes. Empire Pointe is located at the main entrance to Union Landing, a nearly 1,000,000 square foot Entertainment/Lifestyle retail center in Union City, California anchored by a 153,000 sf WalMart , 25 screen Century Theatre, Lowes Home Improvement, Best Buy, Babies R Us, Extended Stay America, and Albertsons.

Linnard has also devised, participated in, and implemented aggressive multi-store roll out market penetration programs, and deployed innovative techniques to open multiple stores in high barrier to entry markets for Starbucks Coffee, Chipotle, and Noah’s Bagels among other current assignments. Empire developed a reputation, which it still enjoys today, as being the “go-to” company that restaurants and retailers rely upon for obtaining permits and on time/on budget store delivery anywhere in California.

Professional Affiliations:

Linnard's Professional affiliations have included International Council of Shopping Centers (ICSC); has been an expert witness in the commercial real estate field for arbitration and mediation proceedings in California; and has been a guest lecturer at the University of Southern California, Lusk Graduate School for Real Estate Studies, John Shea Series.

Education:

Linnard received his B.S. degree in Psychology, Real Estate, and Business from Arizona State University in 1980. In addition, Linnard completed studies in the professional continuing education program at University of California, Los Angeles (UCLA) in Advanced Real Estate Finance in 1982 and Restaurant Industry – Operations and Management (2010).

Page 5: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

Empire Pointe Shopping Center, Union City, CA

Kinko’s, AT&T Wireless, Payless ShoeSource, Linens N’ Things. Michael’s Stores, Petco Animal Supplies, Applebee’s

This project sits at the main entrance to the 1,000,000 sq. ft. Union Landing regional shopping center. Three properties were assembled from two different property owners to create Empire’s 8.75 acre development. The project has its own 4-way traffic signal at its main entrance and 85,081 sq. ft. of building. Empire negotiated two separate complex indemnity and environmental remediation agreements with two governing agencies and supervised remediation of the property concurrent with the design and construction of the shopping center. Adjacent retailers in Union Landing include WalMart, Best Buy, Office Max, Lowe’s Home Improvement Centers, Babies/Kids R’ Us, Sportmart, In N’ Out Burger, Albertsons, Borders, Century Theatres 25-Plex, Krispy Kreme, Chili’s, Starbucks, IHOP, and Lazy Boy Furniture.

Page 6: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

Starbucks Coffee Company SWC Lakewood & Telegraph, Downey, CA

This building, sits approximately 800 feet North of Interstate 5 northbound onramp to and 20 minutes south of Downtown Los Angeles. The site was very challenging to develop in that it was a previous service station which Empire was able to obtain No Further Action Closure status from the California Regional Water Quality Control Board, and the city required a street dedication of almost 22% of the total site area leaving only 15,414 sf of land area available for the building, a drive through lane and adequate parking and access. Empire successfully resolved this design dilemma with a creative plan that provided a 10 car high volume drive through stacking lane that loops around the building hiding most of it from view, an outdoor patio dining area, 14 on site parking spaces, a 10’ wide landscape setback street buffer and negotiated a variance for 3 parking spaces convincing the city to credit some of the excess auto stacking towards the parking requirement. Downey has a history of requiring unique architectural statements for its quick serve food restaurants since it is also home to Johnnie’s Broiler and the world’s very first McDonalds restaurant which sits just one intersection South from the property, both of which are registered historical monuments. The building design attempts to project the “illusion” of a Starbucks coffee cup at its hard corner entrance that is viewable from all street sides incorporating a floor to roof line backlit green glass curtain wall and floating logo sign as a backdrop that draws the pedestrian customer to enter the store by walking through “the cup”. The building is also positioned on the property so that while the drive through lane is easy to locate and access, the public primarily only sees the front of the building and the “Cup” as their eyes turn the corner.

Page 7: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

2500 Mendocino Ave., Santa Rosa, CA

This project consists of 6,137 sq. ft. located at the NEC of Mendocino Ave and Chanate Rd. near the Fountaingrove area of Santa Rosa. The property, formerly a Chevron service station, has 34 parking spaces with access off of both streets and was redeveloped into a three tenant retail building for Peet’s Coffee Company, Pearson’s Market, and Addison Ave. Federal Credit Union. Peet’s is a national chain with stores in 38 states that began in Berkeley California with a cult following. Addison Ave. is the 10th largest credit union in the country with assets over $14 Billion dollars and serves as the credit union for HP Computers and Agilent Technologies. This location was chosen as Addison’s very first off campus location. Adjacent to the property is the Sonoma County governmental headquarters. The site is also located between two Hwy 101 freeway off ramps. The architecture was praised by the city’s Design Review Board for bringing the building to the street and providing an outdoor dining patio.

Page 8: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

Starbucks Coffee, Taco Bell, & Quiznos 1443 E. 14th St., San Leandro, CA

This project was developed in conjunction with the City of San Leandro Redevelopment Agency. The building, originally an old fabric store built in the 1920’s of hollow clay block, was seismically retrofitted and redesigned by turning the side of the building, once a solid wall, into the front of the building by constructing a new wall in its place five feet behind the old wall location with new storefront entrances, sidewalks, windows and facades. The building sits mid block with a competing streetscape in front of a Safeway Marketplace/Longs Drug anchored shopping center. Empire negotiated a complex redevelopment agency loan subordinate to a conventional construction loan and a 99 year license agreement for an adjacent city owned parking lot at no additional cost for the exclusive use of the projects tenants and customers.

Page 9: Empire Biography & Summary Portfolio

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This project is two doors North of the Starbucks/Taco Bell/Quizno’s project at 1443 E 14th St. in the City of San Leandro. The building, originally an old dress shop for 40 years, has been transformed into a virtually different structure through an extensive remodel of the buildings infrastructure and architectural features. The design will complement the architectural style of the Starbucks project while infusing new colors, materials and textures to a continuing pedestrian streetscape. The incorporation of a sign tower element for the buildings two tenants, Electronics Boutique and Metro PCS, at an already prominent intersection made this structure important to the redevelopment of the downtown area. The building sites in front of a Safeway Marketplace/Longs Drug anchored shopping center. Empire’s activity and infusion of capital over a 2 year period was responsible for the majority of all new development in San Leandro’s downtown redevelopment core. Empire received from The City of San Leandro City Council its prestigious Planning and Design Award for best project of the year for adaptive reuse.

Building Remodel @ 1415 East 14th St., San Leandro, CA

Electronics Boutique & Metro PCS

BEFORE

AFTER

Page 10: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

This property is located in the heart of the Midtown neighborhood district of Sacramento. Its tenants include Starbucks Coffee, Noah’s Bagels, Jamba Juice, and Una Mas restaurants. The 6,200 sq. ft. building has many architectural details and finishes including operable sliding front windows and is sited up to the public sidewalk with an integrated textured colored concrete patio of approximately 2,250 sq. ft. for outdoor cafe’ seating that gradually steps back from the street as it turns the corner of the building. The buildings location acts as an anchor to the now flourishing J St. corridor and streetscape. Prior to Empire’s development of the parcel, the land sat vacant for nine years until Empire recognized that the younger, more affluent, yet bohemian style resident who began to populate the neighborhood was being underserved. The center now serves as the anchor to the Midtown retail district.

NEC 19th St. & J St. Sacramento, CA

Page 11: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

This 2,895 sq. ft. building was the product of rehabilitating an existing vacant 1,695 sq. ft Taco Bell for Noah’s Bagel’s and constructing an integrated additional 1,200 sq. ft. for Starbucks Coffee. The building façade was modified to accommodate each of the tenants trade dress while utilizing the Spanish mission theme of the building common to the area. The project is approximately 2 blocks from the University of Pacific and received an award of excellence from the City of Stockton Cultural Heritage Board and City Planning Commission for its contribution to the neighborhood.

Noah’s Bagels & Starbucks Coffee 2535 Pacific Ave., Stockton, CA

Evans/Brueners Rents Furniture SEC Stevens Creek Blvd. & Casa View Dr., San Jose, CA

Located on Stevens Creek Blvd., one of San Jose’s busiest and most coveted retail destinations, this building was the product of massive rehabilitation. Formerly an abandoned bar with no windows, this 6,547 sf building underwent a total makeover right down to the foundation including designing a main entry with vaulted lighting, wraparound 15ft. tall show windows and storefronts, and new exterior plaster treatment and tile accents creating depth and presence.

Page 12: Empire Biography & Summary Portfolio

Empire Realty Group, LLC

Blockbuster Video SEC San Pablo Ave. & Brighton Way, Albany, CA

This building sits one block south of the El Cerrito Plaza which recently completed redevelopment with a new Borders Books, Bed, Bath, & Beyond, Old Navy, a remodeled Albertson’s supermarket, Ross Dress For Less, and Pier One Imports among others. The site which is also close to the El Cerrito BART station, also attracts attention from both neighborhood uses via busy San Pablo Ave. as well as El Cerrito Plaza. The 6,542 sf building also accommodates approximately 33 parking spaces behind the building which boasts access from both streets. This project was only the second project to come before the Albany Planning Commission since the implementation of its “San Pablo Rehabilitation Plan” in over five years and helped influence design policy for future projects.