monrovia, ca 91016 - nai capitalnaicapital.com/pasadena/smartin/1333mayflower/1333mayflower.pdf ·...

1333 Mayflower Ave.Monrovia, CA 91016

• High Credit Rent Roll• Desirable West San Gabriel Valley

• Unpriced• Professional Managed and 100% Leased

NAI Capital Pasadena225 South Lake Ave.

Suite 1170Pasadena, CA 91101

naicapital.com

Table of Contents

1) Executive Overview The Offering Investment Highlights

2) Property Details General Building data Site Data Construction and Finishes Mechanical and Life Safety

3) Location Overview Monrovia Overview Area Maps Tri-City Market Overview Amenities Map 210 Tech Corridor Demographics Building Aerials

4) Tenant Profiles

5) Financial Analysis

6) Building Photos

7) Comparable Sales

8) About the Broker

Investment Highlights Huntington Oaks Office Center is one of the premier midrise office buildings located in the Huntington Drive technology corridor in the city of Monrovia, California. The property consists of a single class A steel frame office building totaling 84,589 square feet, it sits on a .88 acre parcel of land (APN: 8508-015-097 &098), with the nonexclusive easement for parking on the 2.4 acre parking area imme-diately surrounding the building. The project is currently 100% leased and occupied by 10 tenants: PepsiCo Sales, Staples Contract and Commercial, California Teachers Association, City of Hope, Dodge Data, Code Metro, St. Baldrick’s Foundation, American Gen-eral Life and insurance, Federal Deposit Insurance Corporation and Cingular Wireless.

Huntington Oaks office center was built in 1982 and the strategically located in the heart of Monrovia at the 210 freeway and is adja-cent to the Pasadena/Tri-Cities market.

This investment is a unique opportunity to acquire a well located, high quality office building in an appreciating market and features an excellent credit tenant rent roll.

125 W Huntington DriveArcadia, CA 91006

1. Executive Overview

Investment Highlights • Class A institutional building

• Exceptional building identity/signage

• Optimum floor plates sizes - 21,000 square feet

• Tremendous freeway access

• Surrounded by numerous amenities

• Pro-business city with an aggressive tactics in attracting and retaining businesses

• Local higher education institutions

• Attractive residential community

• Tight market conditions and appreciating rental rates

General Building Data

Address: 1333 S. Mayflower Ave., Monrovia, CA

Total square feet: 84, 589 rentable square feet

Number of Tenants: 10

Occupancy: 100%

Floor Plates: Approximately 21,268 square feet each

Bay Depths: 35’ to 38’

Type: Steel frame, four-story suburban office building

Year Built: 1982

2. Property Details

Site Data

Site Area: 3.28 acre site, inclusive of .88 acres in fee simple, and 2.4 acres under a nonexclusive parking easement.

Site Access: Main entries are two driveways office Mayflower Avenue. The property also accessed via drive aisles from the shopping center from the North and West.

Parking: The 2.4 acre parking lot is covered by the parking easement and is currently striped for 252 cars, including seven (7) handicap spaces.

Exterior paving: Parking lot: Asphalt concrete

Drive aprons: Colored, stamped concrete

Building entries: Petals aggregated and concrete tile pavers

Signage: Monument signage fronting Mayflower with address and tenant names there is also building top signage.

Landscaping: Mature trees, shrubs and grasses surrounding the building, with flowerbeds located adjacent to the two main driveways; and underground irrigation system provides water.

Site lighting: Streetlights with high-density lamps mounted on metal poles provide lighting in the driver aisles and parking area; decorative lighting on metal poles are located along the walkway to the building entrance.

Utilities: Water and Sewer: City of Monrovia

Electricity: Southern California Edison

Telephone: Verizon

Police and Fire: City of Monrovia

Zoning: CRS - regional and sub regional commercial

Architect: Miller, Archuleta Associates, Los Angeles

Construction: Foundation: the foundation is reinforced concrete slab on grade with integral perimeter footings and column had footings. The first floor consists of cast in place reinforced concrete slab. There is a small basin area which houses the elevator and electrical equipment, constructed with reinforced concrete masonry retaining walls.

Structure: The superstructure consists of structural steel column and being framing which supports immediate, open web and composition wood and steel joist at each upper floor level. Each upper floor has plywood floor sheathing and his topped by lightweight concrete.

Exterior walls: Exterior walls are constructed of metal curtain wall framing consisting of a standard tube frame with steel stiffeners and spandrel glass, insulating glass and stucco. The mansards soffit is finished with stucco.

Exterior Windows: Part of the curtain wall system, the windows are constructed of double pane glazing set into vertical and horizontal mullions

Roof: The roof deck is constructed of plywood sheathing supported by composite open web joist. The primary roofing material is multi-ply bituminous built up roofing membrane with the granulated sheet cap. Internal roof drains an overflow drains provide water drainage. The mansard roof structure which occurs around the exterior perimeter is framed with wood trusses she’s with plywood and finished with concrete as tiles over felt the rear portions are finished with asphalt shingles.

Elevators: Two hydraulic, Oliver Williams passenger elevators provide access to all floors of the building; each has a 3000 pound capacity, and machinery is located in the basement, Finishes consist of tiled flooring laminated wood paneling and mere chrome ceiling finish panels with recessed lighting, control panels within each cab at each landing meet ADA guidelines.

Building entry doors: frameless, all glass doors set in the curtainwall glazing system

Entry Lobby: Lobby has been recently renovated as glaze concrete floor tiles stuccoed and painted, drywall finishes and painted drywall ceilings.

Common corridors: The corners have wall-to-wall carpeting, painted, and drywall finished walls in suspended T-bar ceilings with acoustical ceiling tiles.

Tenant Ceilings: Suspended T-bar system with acoustical ceiling tiles

Tenant Ceiling Heights: First-Floor: varies from 10’ to 11’ 6”

2nd to 4th floors: 9’

Tenant Flooring: Wall carpet in office areas, final tiles and restrooms and kitchen areas and some suites with laminate wood surfaces.

Tenant lighting: Parabolic fixtures set into suspended T-bar system

Tenant Doors: Interior doors are hollow core, wood doors set in metal frames, and have stained wood finish; the first floor tenant entry doors off the lobby or full height glass

Restrooms: Men’s and Women’s on each floor; ceramic floor tiles and wings codes, painted walls and painted drywall ceilings.

2. Property Details

Construction and Finishes

HVAC systems: The building HVAC system installed in 2001, consists of 4 – 60 Ton carrier packaged VAV units (TRANE) that are located on the roof. All common areas and tenant spaces are heated and cooled with this system. Air distribution is provided from the mechanical units through ductwork above the suspended ceilings. This system is computer operated and monitored from a command station located within the storage and staging area located to the rear of the Building. The air conditioning is a non-water system and cooled by four compressors. The system is serviced by Montante. There are believed to be 112VAV boxes – 29 on floor 1; 28 on floor 2; 27 on floor 3; and 28 on floor 4.

Fire Protection: The fire protection system consist of a wet pipe sprinkler system, a wet standpipe with the fire department whose files and connectors on the roof, portable fire signatures, smoke detectors, pull stations in the Longhorns; there are siamese connections on the exterior of the building and fire hydrants located along the parking lot driveway aisles.

Life safety system: Each access Koror is equipped with smoke detectors wired to the building’s electrical system, pull stations, and alarm horns; each access Koror, stairway and common space is equipped with battery backup emergency lighting; backup battery exit lights are located at all required exits along path of travel; there is an electronic security system which controls access to the main lobby during nonbusiness hours.

Electrical System Power: The Building is supplied with electrical service from Edison. It has 1,600 amps and 277/ 480 volt three phase, four wire alternating current (AC) located in the subterranean rooms where the electrical sub-panels are located. Circuit breaker panels are located in each tenant space and in closets on each floor along the common area corridors. There is believed to be one master meter and one house meter. There is no emergency generator on the premises.

2. Property Details

Mechanical and Life Safety Systems

3. Location Overview

Monrovia Quietly Attracts New Businesses

Monrovia has one of the most stable governments, and boast one of the safest communities, in the state. Business growth is dynamic and the cost of establishing and operating in the City Monrovia are low.

Major companies have moved out of larger neighboring cities into Monrovia in ever-growing numbers in recent years. The Monrovia's creation of the Huntington Drive Tech Corridor has established Monrovia as a significant technological and corporate Center in the San Gabriel Valley. Major office tenant include: Genzyme, 21st Century Insurance, eTelecare, Sun Microsystems, City of Hope, Xerox, Prolacta Bioscienc, 3M Corporation, AeroVironment, EDS, Xencor, Green Dot, Trader Joe's, M WH lavatories, Naked Juice.

Mt. Sierra College, one of the most advanced IT and design colleges in the nation, occupies nearly 60,000 ft.² and is headquartered in the city. Their prominence in the market is helping build the regions rapidly growing base of skilled professionals. Moreover, the community is tied both geographically and in working relationships with nearby Pasadena's California Institute of Technology and its office of technology transfer, the City of Hope and both of his Center for Applied Technology Department and Center of Biomedicine and Genetics in the City of Duarte and the Keck Graduate Institute in nearby Claremont.

Monrovia sits at the center of the rapidly growing to 10 technology corridor, running along the foothills of the San Gabriel Valley. Monrovia is within easy reach of major airports, hotels, freeway and all of the amenities and necessities that serve businesses, their clients and their employees.

Recently, the city's government work with Verizon to run of fiber optic ring throughout the business areas of the community to offer direct high-speed link to all this technology businesses. It's that kind of forward thinking and infrastructure investment that makes Monrovia so different from other locals.

Accessible along the 210 and 605 freeways, historic Route 66, Huntington Drive and a stop along the Metro Gold Line, Monrovia is great choice for so many residents and businesses. The 11.5-mile Gold Line Foothill extension will open on March 5, 2016. The extension will run from Pasadena to Azusa, connecting cities in the Gabriel Valley to downtown and beyond to East L.A.

City of Monrovia is one of the most filed towns in Los Angeles County. Movies, commercials, music videos and photo shoots throughout the year make Monrovia a very recognizable location.

Area Maps


Los Angeles is the second largest commercial market in the United States and a well-balanced, multi tiered economic engine driven by 16 base industries with unparalleled access to world markets. The Los Angeles region has a population of approximately 10 million and contains over 200 million square feet of office . The Tri-Cities is third largest submarket and Los Angeles comprising of 13.5% of its overall inventory.

The Tri-Cities office is consistently one of the strongest performing markets in Los Angeles County. Spanning the Tri-Cities of Pasadena Burbank and Glendale and other smaller adjacent submarkets, this diverse and dynamic market in Los Angeles County includes nearly 27,000,000 square feet of office space. With exceptional access to well educated and motivated labor base of nearly 2.26 million people, a wealth of executive and affordable housing options, and some of the county’s most prominent cultural and retail amenities, the Tri-City market attracts entertainment powerhouses financial institutions, tech companies, educational facilities, as well as leading insurance companies and engineering firms.

Submarket Base SF Direct vacancy rate Average rents (class A)

Year to date net absorption (class A)

Pasadena 9,469,486 SF 15.2% $3.18 9,907 SF

Glendale 6,672,729 SF 14.6% $2.50 48,915 SF

Burbank 6,733,458 SF 13.8% $3.34 (3,999 SF)

E San Fernando Valley/West San Gabriel Valley 4,050,534 SF 13.4% $2.58 11,721 SF

Total Tri-Cities market 26,926,189 SF 14.4% $3.00 66,544 SF

Market Overview


Old Town Monrovia Eateries

1 Coffee Bean & Tea Leaf

2 Quiznos Subs

3 Teri Yaki

4 Old Town Pizza

5 Planet Cookies Bakery and Café

6 Caffe Opera and Bistro

7 Cold Stone Creamery

8 Mikomi Sushi

9 London Gastro Pub

10 Monrovia Coffee Company

11 Café Mundial

12 Mediterranean Spinners

13 The Monrovian Restaurant

14 T Phillips Ale House

15 Rudy's Mexican Food

16 Sam's Deli and Kebob Room

17 Pinkberry

18 Chang Thai Bistro

19 Mooncat Sushi

20 Restaurant Devon

21 Merengue Bakery & Café

22 Baldwin's Sidewalk Café

23 Wang's Place

24 Starbucks Coffee

Other Local Restaurants

1 Black Angus Steakhouse

2 Acapulco Restaurant

3 Chili's

4 Claim Jumper

5 Red Lobster

6 Daphne's Greek Café

7 Applebee's Restaurant

8 Mimi's Café

9 Rubio's Baja Grill

10 Quiznos Subs

11 Panda Express

12 Baja Fresh Mexican Grill

13 Philly's Best

14 Matt Denny's Alehouse

15 Outback Steakhouse

16 Capistrano's Restaurant

17 Derby Restaurant

18 Souplantation

19 Maki & Sushi

20 Sesame Grill

21 BJ's Restaurant

22 Tokyo Wako

23 Subway

24 Olive Garden Italian Restaurant

25 Pioneer Point Steakhouse

26 Basil Thai Cooking

27 In & Out Burger

Hotels

1 Embassy Suites

2 Doubletree

3 Oak Tree Inn

4 Homestead Hotel

5 Courtyard by Marriott

6 Hampton Inn

7 Santa Anita Inn

8 Marriott Residence Inn

9 Marriott Springhill Suites

10 Extended Stay America

11 Hilton Garden Inn

Entertainment & Recreation

1 Krikorian Premiere Theatres

2 Monrovia Library Park

Amenities Map


210 Tech Corridor


Demographic and Income Comparison Profile1333 S Mayflower Ave, Monrovia, California, 91016 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 34.13730

Longitude: -118.009591 mile 3 miles 5 miles

Census 2010 SummaryPopulation 27,046 124,960 355,185Households 9,589 43,080 109,709Families 6,671 30,998 83,654Average Household Size 2.81 2.86 3.21Owner Occupied Housing Units 4,179 26,003 65,164Renter Occupied Housing Units 5,410 17,077 44,545Median Age 36.1 40.5 37.7

2015 SummaryPopulation 27,445 126,403 358,735Households 9,731 43,474 110,600Families 6,799 31,403 84,569Average Household Size 2.81 2.86 3.21Owner Occupied Housing Units 3,966 25,180 63,117Renter Occupied Housing Units 5,765 18,294 47,484Median Age 36.9 41.5 38.5Median Household Income $60,605 $68,515 $61,522Average Household Income $77,488 $97,629 $88,127


Trends: 2015-2020 Annual RatePopulation 0.42% 0.36% 0.35%Households 0.43% 0.36% 0.36%Families 0.48% 0.42% 0.39%Owner Households 0.06% 0.19% 0.20%Median Household Income 2.93% 3.01% 3.31%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2015 and 2020.

October 30, 2015

©2015 Esri Page 1 of 7

Demographic and Income Comparison Profile1333 S Mayflower Ave, Monrovia, California, 91016 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 34.13730

Longitude: -118.009591 mile 3 miles 5 miles

Census 2010 SummaryPopulation 27,046 124,960 355,185Households 9,589 43,080 109,709Families 6,671 30,998 83,654Average Household Size 2.81 2.86 3.21Owner Occupied Housing Units 4,179 26,003 65,164Renter Occupied Housing Units 5,410 17,077 44,545Median Age 36.1 40.5 37.7



Trends: 2015-2020 Annual RatePopulation 0.42% 0.36% 0.35%Households 0.43% 0.36% 0.36%Families 0.48% 0.42% 0.39%Owner Households 0.06% 0.19% 0.20%Median Household Income 2.93% 3.01% 3.31%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2015 and 2020.

October 30, 2015

©2015 Esri Page 1 of 7


Demographics

PepsiCo Sales, Inc. operates as a subsidiary of PepsiCo Inc., one of the world’s leading food and beverage companies. PepsiCo is a leading Fortune 500 Company and their products are enjoyed by consumers one billion times a day in more than 200 countries and territories around the world.

PepsiCo generated more than $66 billion in net revenue in 2014, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales. By revenue, PepsiCo is the second largest food and beverage company in the world.

Staples Contract and Commercial, Inc. offers business supplies to the Fortune 1000 organizations through Staples Advantage. The company offers office products, facility solutions, breakroom solutions, technology solutions, managed print services, furniture, promotional products, and print solutions. It serves commercial businesses, government organizations, healthcare organizations, and educational institutions in the United States and internationally. The company was incorporated in 1997 and operates as a subsidiary of Staples, Inc. Staples, Inc. is the largest office products delivery business and the second largest e-retailer in the world. Staples’ contract business totaled $7 billion in sales over the past few years.

The Monrovia desk of California Teachers Association (“CTA”) is a regional resource center and branch of the CTA. Founded in 1863, the California Teachers Association has become one of the strongest advocates for educators in the country. CTA represents more than 325,000 teachers, counselors, school librarians, social workers, psychologists and nurses in the state. These educators in the K-12 school system are joined by community college faculty, California State University faculty, and education support professionals to make CTA the most inclusive and most powerful voice of educators in the state.

City of Hope Medical Foundation contracts for physician services rendered at City of Hope National Medical Center and its community practice sites. It provides teaching, education and research services and treatment through outpatient facilities in coordination with City of Hope. City of Hope is a top-ranked private, non-profit teaching hospital specializing in treatment and research for cancer, diabetes and other life-threatening diseases. Founded in 1913, it is one of only 45 designated comprehensive cancer centers in the United States by the National Cancer Institute and U.S. Department of Health & Human Services. City of Hope admits nearly 6,000 patients annually and performs nearly 3,500 inpatient and 4,000 outpatient surgeries per year. Additionally, City of Hope was identified as the 13th ranked cancer hospital in the nation by U.S. News & World Report. As of 2014, City of Hope and its affiliates’ revenue totaled more than $1 billion.

McGraw Hill Companies, Inc. is a publically-traded global information services provider doing business in the financial services and business information markets. After divesting from its education segment in 2013, McGraw Hill Companies, Inc. became known as McGraw Hill Financial. The financial services of the company includes several leading financial intelligence brands offering independent analysis and research including Standard & Poor’s Ratings Services, S&P Dow Jones Indices, Platts and J.D. Power. Revenue for McGraw Hill Financial exceeded $5 billion in 2014. It is a Fortune 500 company.

CodeMetro, based in Monrovia, CA offers practice management software, insurance billing, consulting services and administrative products and services dedicated to special needs providers in the Autism, ABA, SLP, OT and PT field. Every day, clinicians and their staff rely on CodeMetro and its services to increase efficiency, profitability and reduce overhead cost. For over a decade, CodeMetro has been advancing the therapy industry, serving as a purveyor of business necessities that foster growth and therapy quality.

4. Tenant Profiles

St. Baldrick’s Foundation is a volunteer-driven childhood cancer charity funding promising research to help find cures for cancer. The St. Baldrick’s Foundation currently funds more in childhood cancer research grants than any organization except the U.S. government. The Foundation coordinates its signature head-shaving events worldwide, where volunteers get bald to stand in solidarity with kids fighting cancer and raise money to support life-saving childhood cancer research. St. Baldrick’s events are the largest volunteer-driven fundraising opportunity benefitting pediatric cancer research. In 2014, the charity received more than $39 million in revenue and support.

American General Life Insurance Company is the U.S. based life insurer of American International Group (“AIG”). American General Life and Accident Insurance Company was acquired by American General Life Insurance Company, Inc. American General Life and Accident Insurance Company provides life insurance, annuities, and accident and health products. The company’s life insurance products include universal life, whole life, and term insurance policies; and accident and health insurance products comprise cancer, critical illness, disability income, and supplemental medical indemnity insurance policies. It also offers deferred annuities and immediate income annuities; and employer and employee voluntary benefit plans.

AIG has more than 88 million customers in 130 countries. The company serves 98% of the Fortune 500 companies, 96% of Fortune 1000, and 90% of Fortune Global 500, and insures 40% of Forbes 400 Richest Americans. AIG was ranked 40th largest company in the 2014 Fortune 500 list.

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the federal government responsible for insuring deposits made by individuals and companies in banks and other thrift institutions. The FDIC insures deposits up to $250,000. The agency also identifies and monitors risks to its deposit insurance funds and tries to limit the effects on the U.S. economy if a bank of thrift institution should fail. The FDIC is funded through premiums paid by banks and thrift institutions to pay for deposit coverage and from interest the agency earns on U.S. Treasury securities. The FDIC directly examines and supervises more than 4,500 banks and savings banks for operational safety and soundness, more than half of the institutions in the banking system. The FDIC operating budget for 2014 totaled $2.4 billion.

Cingular is now The New AT&T. AT&T is a Fortune 500 company. 2014 Reported Consolidated Revenue: $132.4 Billion. On January 12, 2007 AT&T announced a major rebranding transition campaign to transition Cingular to the new AT&T (in February 2009 “new” was removed). The former Cingular stores, after being rebranded to AT&T, sold all AT&T products and services: wireless, landline, Internet, U-Verse, and more. As of December 2013, www.cingular.com can still be used to access AT&T’s wireless shop website. AT&T Inc. common stock is listed on the New York Stock Exchange.

AT&T Mobility, formerly known as Cingular Wireless, is a wholly owned subsidiary of AT&T that provides wireless services to 120.6 million subscribers in the United States, including Puerto Rico and the U.S. Virgin Islands. AT&T Mobility is the second largest wireless telecommunications provider in the United States and Puerto Rico behind Verizon Wireless. AT&T Mobility is headquartered in the Lenox Park area of Brookhaven, Georgia, just outside Atlanta

4. Tenant Profiles

CASH FLOW SCHEDULE DECEMBER 2015

ON ACTUAL

INCOMEAT $2.45 FSG Proforma

Suggested Offering Price $24,000,000.00

Price Per Square Foot $283.72

Capitalization Rate 6.23% 6.52%

10-Year Unleveraged IRR 12.20% 14.62%

10-Year Leveraged IRR 11.64% 13.05%

Effective Gross Revenue $2,404,736 $2,561,670

Total Operating Expense $1,016,984 $1,016,984

Tenant Recapture $106,984 $0

Net Operating Income $1,494,736 $1,544,686

Cash Flow Before Debit Service $1,494,736 $1,544,686

First Trust Deed $1,079,288 $1,079,288

Pre-Tax Cash Flow $415,449 $465,398

5-Year Leveraged Cash on Cash Return 7.22% 8.36%

Pricing Summary

5. Financial Analysis


UNITS TENANT AREA Expiration Date RENT Rental Rent Type

100 PepsiCo 14,844 December 31, 2020 $33,399.00 $2.25 Fixed 3% FSG

150 California Teacher’s Assoc 5,185 October 31, 2016 $11,885.75 $2.29 Fixed 3% FSG

200 City Of Hope 21,840 June 10, 2017 $59,592.00 $2.73 Fixed 3% FSG

300 Dodge Data 2,864 October 31, 2017 $6,580.30 $2.30 Fixed 3% FSG

320 CodeMetro 7,357 November 14, 2017 $15,815.40 $2.15 Fixed 3% FSG

340 St. Baldrick’s Foundation 0 December 31, 2018 $0.00 $0.00 Fixed 3% FSG

360 American General Life 4,410 March 14, 2017 $10,417.00 $2.36 Fixed 3% FSG

400 St. Baldrick’s Foundation 20,302 December 31, 2018 $44,053.58 $2.17 Fixed 3% FSG

450 Federal Deposit Insurance 7,787 October 31, 2018 $16,742.00 $2.15 Fixed 3% FSG

Roof Cingular Wireless 1 October 31, 2017 $1,909.66 $1,909.66

Rent Roll


Summary Location

1333 Mayflower

Suggested Offering Price: $24,000,000 Monrovia, CA 91016

Financing Summary

Down Payment: 35% $8,400,000

Loan assumptions made for proforma purposes

Current Cap Rate: 6.23%

Cash on Cash Return: 4.9% $415,449

Year Built: 1982

Interest Rate 4.75%

Gross Leasable Area (GLA): 84,590Amortization Period

25

Loan Amount $15,600,000

Price/Sq. Ft. (GLA): $284 Down Payment $8,400,000

Monthly Payment $89,940.66

Lot Size (Sq Ft.): 38,332

Annualized Operating Data Operating Expenses

Cash Flow Asumptions

INCOME Current EXPENSES Current

Tenant Rental: $2,404,736 Real Estate Taxes (Price) $297,600

Insurance $90,348

Total Rental Income (GLA): $2,404,736 Utilities $239,827

Trash $5,400

Vacancy: 5.0% $120,237 Landscaping $5,424

Cleaning $98,488

Est. Gross Operating Inc. (EGI): $1,016,984 Management Fee 4.0% $96,189

Security $21,212

Total Expenses: $1,016,984 Reserves 1.0% $24,047

Service Contracts $54,674

Tenant Recapture: $106,984Maintenance/Repair

$83,774

Net Operating Inc. (NOI): $1,494,736

First Trust Deed/Mortgage: $1,079,288TOTAL EXPENSES:

$1,016,983.81

Total Expenses per St. Ft. (GLA): $12.02

Pre-Tax Cash Flow: 4.9% $415,449

Principal Reduction: $333,457

Total Return: 8.92% $748,906


Cash Flow Asumptions

6. Building Photos

# Address Sales Price RBA (SF)Yr Built /

RenovatedPrice / SF Sales Date

1 1 West Green, Pasadena $26,372,000 41,200 2013 $640.12 6.8.15

2 350 West Colorado, Pasadena $33,000,000 84,033 1985 $392.70 5.29.15

3 199 South Los Robles Pasadena $52,500,000 163,234 1983 $321.62 1.30.15

4 140-146 South Lake Ave., Pasadena $40,000,000 85,000 1986 $470.59 12.9.14

5 234 East Colorado, Pasadena $36,400,000 123,110 1924 $295.67 10.3.14

6 625 Fair Oaks, South Pasadena $20,000,000 80,056 1987 $249.83 8.28.14

7 1111 South Arroyo Prkwy, Pasadena $27,400,000 131,318 1983 $208.00 7.18.14

8 245 South Los Robles, Pasadena $38,875,000 175,715 1978 $221.24 1.16.14

9 222 East Huntington, Monrovia $20,500,000 121,873 1988 $168.20 11.15.13

AVERAGE $329.77

7. Comparable Sales

1 2 3

4 5 6

987

7. Comparable Sales

Areas of Specialization:

• Office Leasing

• Office Sales

• Investment

Background and Experience:

• 27 Year in office leasing and sales

• Closed over $1.1 Billion in Commercial Real Estate transaction value

• Closure of over 900 lease transactions

• Expert in 1031 Exchange and multi-tenant investment properties

Affiliations/Memberships:

• Society of Industrial and Office Realtors (SIOR)

• Director of the West Region

• Immediate Past President of Los Angeles Chapter

• Co-manager of Pasadena office for NAI Capital

• Pasadena Tournament of Roses Association

• Board Member for the Institute of Redesign of Learning

• Founder of Good Christian Men of Pasadena

8. About the BrokerR. Scott Martin, SIOR Executive Vice PresidentCA BRE License #00992387

tel 626 564 4800 x110

fax 626 564 4846

[email protected]

Prepared by:

CALIFORNIAValencia

Oxnard

Westlake Village

Ontario

Palm Desert

Murrieta

CommerceDiamond Bar

EncinoIrvine

PasadenaSimi Valley

TorranceWest Los Angeles

No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buy-ers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.

R. Scott Martin, SIOR Executive Vice President

CA BRE License #00992387 tel 626 564 4800 x110

fax 626 564 [email protected]

Victorville

Encino - HQ 16001 Ventura Blvd., Ste. 200 Encino, CA 91436 (818) 905-2400

Commerce 500 Citadel Dr., Ste. 100 Los Angeles, CA 90040 (323) 201-3600

Diamond Bar 21660 E. Copley Dr., Ste. 320 Diamond Bar, CA 91765 (909) 348-0600

Irvine 1920 Main St., Ste. 100 Irvine, CA 92614 (949) 854-6600

Murrieta 38605 Calistoga Dr., Ste. 150 Murrieta, CA 92563 (951) 491-7590

Ontario 800 N. Haven Ave., Suite 400 Ontario, CA 91764 (909) 945-2339

Oxnard 300 Esplanade Dr., Ste. 1660 Oxnard, California 93036 (805) 278-1400

Palm Desert 75-410 Gerald Ford Dr., Ste. 200 Palm Desert, CA 92211 (760) 346-1566

Pasadena 225 S. Lake Ave., Ste. 1170 Pasadena, CA 91101 (626) 564-4800

Simi Valley 2655 First St., Ste. 250 Simi Valley, CA 93065 (805) 522-7132

Torrance 970 W. 190th St. Dr., Ste. 100 Torrance, CA 90502 (310) 532-9080

Valencia 27451 Tourney Rd., Ste. 200 Valencia, CA 91355 (661) 705-3550

Victorville 13911 Park Avenue, Suite 206 Victorville, CA 92392 (760) 780-4200

West Los Angeles 11835 W. Olympic Blvd., Suite 700E Los Angeles, CA 90064 (310) 440-8500

Westlake Village 2555 Townsgate Rd., Ste. 320 Westlake Village, CA 91361 (805) 446-2400

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