:

28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

FOR SALE THE SHOPS AT OAK CREEK

RETAIL CENTER IN PRIME SOUTHERN CALIFORNIA LOCATION

REPRICED TO MARKET: $16,750,000 | 5.5% cap

1

•Class “A” Retail Center

•AVG HH Income: $154,670*

•FWY Exposure: 145,000+ CPD

•Trader Joe’s Shadow Anchor

* 6 mile radius

28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

THE SHOPS AT OAK CREEK

EXCELLENT LOCATION

2

Agoura High School

Excellent Location!

THE SHOPS AT OAK CREEK

CONFIDENTIALITY & DISCLAIMER

33

This confidential investment brochure has been prepared solely for informational

purposes and does not constitute all or any part of an offer or contract. It is designed

to assist a potential investor in determining whether to proceed with an in-depth

investigation of the subject property.

This investment brochure was prepared by May Realty Advisors and has been

reviewed by representatives of the Owner. It contains select information pertaining

to the sale of the East and West portions of The Shops at Oak Creek, Agoura Hills,

California, and does not purport to be all inclusive or to contain all of the

information which prospective purchasers may desire. It should be noted that all

financial projections are provided for general reference purposes, only in that they

are based upon assumptions relating to the general economy and other factors

beyond the control of Owner, and therefore, are subject to material variation.

Additional information and an opportunity to inspect the property will be made

available to interested and qualified prospective purchasers. Neither the Owner

nor May Realty Advisors nor any of their respective officers or agents

make any representation or warranty, expressed or implied, as to the accuracy or

completeness of this investment brochure or any of its contents, and no legal

commitments or obligations shall arise by reason of this brochure or its contents.

Certain documents in this investment brochure are described in summary form.

The summaries do not purport to be complete nor necessarily accurate

descriptions of the full agreements involved, nor do they purport to constitute a

legal analysis of the provisions of the documents. Interested parties are expected

to independently review all such documents. The terms and conditions stated in

this section will relate to all sections of the brochure as if stated independently

therein.

It is essential that all parties to real estate transactions be aware of the health,

liability and economic impact of environmental factors on real estate. May Realty

Advisors does not conduct investigations or analysis of environmental matters,

and accordingly, urges its clients to retain qualified environmental professionals to

determine whether hazardous or toxic wastes or substances, or other

undesirable materials or conditions are present at the property, and if so,

whether any health danger or other liability exists.

Various federal, state and local laws and regulations have been enacted dealing

with the use, storage, handling, removal, transport and disposal of toxic or

hazardous wastes and substances. Consequently, legal counsel and technical

experts should be consulted where these substances are or may be present.

The Owner and May Realty Advisors expressly reserve the right, at their sole

discretion, to reject any or all expressions of interest or offer to purchase the

property and/or to terminate discussions with any entity at any time with or

without notice. The Owner shall have no legal commitment or obligation to

any entity reviewing this investment brochure or making an offer to

purchase the property, unless and until a written commitment to purchase

the property has been fully executed, delivered and approved by Owner and

any conditions to Owner’s obligations thereunder have been satisfied or

waived.

By receipt of this investment brochure, you agree that its contents are of a

confidential nature, that you hold and treat it in the strictest confidence, and that

you will not disclose this brochure or any of its contents to any other entity

without the prior written authorization of May Realty Advisors, nor will you use

this brochure or any of its contents in any fashion or manner detrimental to the

interest of the Owner. This brochure shall not be deemed an indication of the state

of affairs of the Owner nor constitute an indication that there has been a change

in the business or affairs of Owner since the date of preparation of this investment

brochure. For additional information, please contact: Matthew May or Richard

Huelsman with May Realty Advisors at 818-528-3999. If after reviewing this

investment brochure you have no further interest in purchasing the property,

kindly return it to May Realty Advisors at your earliest convenience. Photocopying

and other duplication expressly prohibited.

28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

THE SHOPS AT OAK CREEK

TABLE OF CONTENTS

CONTENTS

Page 5

Page 11

Page 12

Page 14

Page 15

Page 16

Page 20

Page 24

Executive Summary

Site Plan

Aerials

Investment Highlights

Rent Roll

Regional Overview

Demographics

Tenants

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5

THE SHOPS AT OAK CREEK

REGIONAL OVERVIEW

5

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THE SHOPS AT OAK CREEK

EXECUTIVE

SUMMARY

66

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THE SHOPS AT OAK CREEK

EXECUTIVE SUMMARY

STRONG REAL ESTATE FUNDMENTALS

• Newer Construction, High-Quality Asset – Construction completed in 2009, no deferred maintenance or near-term capital improvements. Seller investedover $200,000 when they purchased the property to maintain the Class “A” condition of the center.

• Limited Future Competition, Supply-Constrained Market - Affluent and

mature trade area creating a high barrier to entry for future competition and

ensuring the center’s long term growth and success.

INTERNET RESISTANT TENANCY

You can’t do it online – You cannot go out to breakfast, lunch, dinner or have a

cocktail online, nor can you get your manicure and pedicure via your laptop.

You cannot workout at the gym online, nor can you buy the select goods that

only Trader Joes has to offer. This is truly an eclectic center with tenants that

answer the demand of the neighborhood.

HIGH IDENTITY, IN AN UPSCALE NEIGHBORHOOD

• This point of destination creates an experience for customers in Agoura Hills one of the wealthiest communities in California.

• High-quality “Jewel Box” retail and restaurants are located just minutes

from the new Avanti residential project an exclusive residential

community with an embedded density and customer base as well as

being extremely accessible and identifiable to the 145,000 cars per day

that drive by this site.

• Oak Creek is ideally located within minutes to Caruso Affiliated’ s The

Commons which is anchored by Edwards Grand Place Stadium Theater,

Barnes and Nobel and William Sonoma.

• Proximity to both residential and commercial density keeps this Property busy throughout the day and week.

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THE SHOPS AT OAK CREEK

EXECUTIVE SUMMARY

PRESERVATION OF CAPITAL AND GROWTH

• Strong Inflation Hedge – Scheduled rental increases plus the lease-up of

vacant space produce excellent return increases, enhancing cash-on-cash

returns and providing strong hedge against inflation in a tangible,

dependable asset.

IDEAL 1031 EXCHANGE PROPERTY OR PORTFOLIO ASSET

• Newer Construction – Rare, newly-constructed Los Angeles County asset

• Pride of Ownership – High-quality newer construction with meticulous upkeep.

• Property can be delivered debt-free allowing the Property to be

delivered to the widest and deepest pool of investors thus providing a

potential purchaser an opportunity to customize debt to achieve optimal

returns.

LOCATION

The Shops at Oak Creek sits adjacent to the 101 Freeway with unobstructed

views for the 145,000 cars passing daily. The property is located in Agoura Hills,

CA on Canwood St., just off the Kanan Rd. exit of the 101 Freeway.

Geographically, Agoura Hills is located just west of the San Fernando Valley, in the

Conejo Valley. Its neighboring cities, Calabasas to the east, Westlake Village to

the west, Malibu to the south and Oak Park to the North, are some of Los

Angeles County’s most affluent areas. Agoura Hills boasts strong demographics

of its own with an average annual household income of over $154,670 within a 6

mile radius.

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THE SHOPS AT OAK CREEK

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

The area is packed with other national retailers such as Vons, Rite Aid, Starbucks,

McDonald’s, CVS, Panda Express, Ralph’s, Bank of America and many more.

Agoura Hills is also known as an area with extremely high barriers to entry for

both tenants and developers as there is a limited amount of retail space and the

city is highly-restrictive on new development. This site took nearly five years to

entitle and develop.

INVESTMENT OPPORTUNITY - The Shops at Oak Creek is a seasoned center

with exceptional anchored-tenant sales. The center took over 5 years to entitle

and construct due to the restrictive nature of the City. Hence, there are no other

parcels with this size, configuration and visibility in the trade area that could

provide an alternative for either tenant. A survey of the trade area will reveal

that the vacancy for Class A retail centers is less than 5%.

ATTRACTION FOR THE TENANTS - The Trader Joe’s location in Westlake

Village is approximately 5 miles to the west of the subject property while their

Woodland Hills location is 11 miles to the east. The combination of easy access,

wealthy residents, lack of specialty grocer competition and excellent parking

attracted Trader Joe’s to this site which draws a large and consistent customer

base.

Center of an affluent trade area West Lake Village to the West, North

Ranch/Thousand Oaks, to the North; Calabasas to the East, and Malibu to the

South.

ACCESS & VISIBILITY - The site’s frontage on the 101 Freeway provides a

dominate position in the trade area, as well as unparalleled visibility and a

competitive advantage. Westbound vehicles can exit at Chesboro and head

west on Canwood or they can exit on Kanan and head east on Canwood.

Customers headed east on the freeway can exit at Kanan. The City of Agoura

recently completed a reconstruction of the Kanan Road interchange which

facilitates easier and faster ingress and egress.

PARKING - The center offers convenient surface parking with the combined

parking ratio of over 7 cars per 1,000 square feet of gross leasable area,

exceeding the City’s requirements. There are a total of 91 parking spaces on

the east side of the shopping center where Trader Joe’s and Jinky’s are located,

and approximately 165 spaces on the west side. There is also a reciprocal

parking agreement with the adjacent hotel, thus additional parking is available.

DEMOGRAPHICS

• More than 7,500 people within a 1 mile radius, with an Average Household Income of $128,347.

• More than 40,000 people within a 3 mile radius, with an Average Household Income of $145,263.

• More than 75,000 people within a 6 mile radius, with an Average Household Income of $154,670.

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AVAILABLE

THE SHOPS AT OAK CREEK

NOTE: Trader Joe’s & Jinky’s Not A Part of the SaleNAILSBLVD

OCCUPIED

AVAILABLE

NOT FOR SALE

1

0

10

SITE PLAN

28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

THE SHOPS AT OAK CREEK

CLOSE-UP AERIAL

11

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THE SHOPS AT OAK CREEK

INVESTMENT

HIGHLIGHTS

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THE SHOPS AT OAK CREEK

Property Name:

Property Address:

Property Type:

Gross Leasable Area:

Land Size:

Number of Buildings:

Parking:

Asking Price (West SideShops):NOI:

Cap Rate:

Lease-up Credit:

The Shops at Oak Creek

28941/29105/29125/29145 C a n w o o d Street

Agoura Hills, California 91301

Multi-Tenant RetailCenter

Total: 36,186 SF

West Side: 21,186 SF East Side: (Not For Sale)

Total: 5.71 Acres

West Side: 3.55 Acres

91 Parking Spaces on the East Side

West Side: Approx: 165 spaces (7.3/1,000)

$16,750,000$922,809.775.5% Top Line

Seller will credit Buyer up to $200,000 upon close of escrow.

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS

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THE SHOPS AT OAK CREEK

12 MONTH RENT ROLL - FISCAL YEAR 2018

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28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

$1.38

$1.38

THE SHOPS AT OAK CREEK

REGIONAL

OVERVIEW

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AGOURA HILLS, CA

THE SHOPS AT OAK CREEK

REGIONAL OVERVIEW

MARKET AREA ANALYSIS

The subject property is in the neighborhood of Agoura Hills, within theincorporated City of Los Angeles, in Los Angeles County. Los Angeles County ispart of the Greater Los Angeles area or the Los Angeles Metropolitan Areacomprised of Los Angeles, Orange, Riverside, San Bernardino, and VenturaCounties. The location map below shows the general location of theneighborhood.

The Greater Los Angeles area is the most populous region in the state ofCalifornia. California is now the largest and one of the most economically andpolitically important states in the country. With over 10 million residents in 88cities spread across 4,100 square miles, Los Angeles County’s population exceedsthat of 43 states. If it were a country, it would be the twentieth largest economyin the world (having displaced Saudi Arabia to move up one spot from last year).In addition to its signature industries—entertainment, tourism and fashion—itsenormous and diversified economy is home to the largest port complex in theWestern Hemisphere and the largest number of manufacturing jobs of anycounty in the country. Other major industries include health care, education andknowledge creation and business services.

Now that the economy is back to full employment, upward pressure on wages, astrong dollar, and weak inflation may lead to significant gains in householdpurchasing power this year. Since much of the gain in income is expected to bespent, local spending as measured by total taxable sales is expected to increaseby 5.5% this year and 6.8% the next year.

AGOURA HILLS

16

NEIGHBORHOOD HIGHLIGHTS

• Agoura Hills is the gateway, via Kanan Road, to Malibu in the South; Oak Park, North Ranch, and Thousand Oaks to the North: Close to Malibu Creek State Park, the Paramount Ranch and Triunfo Creek Park, Agoura Hills offers access to scenic hikes, a major selling point.

• The neighborhood is where L.A. meets Ventura County: Almost equidistant

from Thousand Oaks and the west Valley, Agoura Hills is convenient to major employment and retail destinations in two counties.

• Making the grade: Agoura Hills is within the highly-regarded Las Virgenes Unified School District, which serves affluent communities in the Conejo Valley.

28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

THE SHOPS AT OAK CREEK

REGIONAL OVERVIEW

VENTURA COUNTY

The subject property is located immediately adjacent to the eastern border ofVentura County.

Ventura County, often referred to as the Gold Coast has a reputation of being one

of the most affluent as well as the safest populated places in the country.

Ventura is located along the scenic southern-most part of California’s Central

Coast. It is ranked as one of the 100 highest-income counties in the country and

as the sixth wealthiest county in California by per capita income.

Ventura County was established as an agricultural center and expanded into oil

and technology. While the value of agriculture generates over $2.1 billion in

revenues, the diversification has allowed Ventura to maintain an unemployment

rate below the majority of other California cities and the national average as

well. Retail vacancy is less than ten percent and Agoura Hills is less than 5% for

traditional retail centers.

CONEJO VALLEY

The Conejo Valley is comprised of, Agoura Hills, Newbury Park, Oak Park,

Thousand Oaks, Westlake Village and Lake Sherwood. Lake Sherwood is one of

the most prestigious residential areas in Southern California and home to

Sherwood Country Club and the Tiger Woods Invitational Golf Tournament.

The area is attractive to employers as a result of a very educated employee base,

suburban atmosphere, reasonable housing base, very good schools and easy

access via the 101 freeway corridor.

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THE SHOPS AT OAK CREEK

CONEJO VALLEYS LARGEST EMPLOYERS

Amgen Teradyne Homestore, Inc. Hyatt Westlake Plaza

Biotechnological Research Automatic Test Equipment Internet Real Estate Hotel

6,700 employees 800 employees 450 employees 300 employees

Wellpoint/Blue Cross City of Thousand Oaks JD Power and Associates Costco

Health Insurance City Government Automotive & Relates Research Wholesale

2,296 employees 650 employees 360 employees 300 employees

Verizon Countrywide Financial Corporation Sage Publications Rockwell Scientific Company

Telephone/Telecommunications Financial Services Publishers High Technology R&D

2,200 employees 630 employees 355 employees 292 employees

Conejo Valley Unified School District HMS Capital State Farm Insurance K-Swiss, Inc.

Public Education Mortgage Lender Insurance Sports Footwear

1,723 employees 630 employees 350 employees 275 employees

Los Robles Regional Medical Center Silver Star Automotive Group Edo Communications Pleasant Holidays

Medical Auto Sales & Service Military Guidance Systems Travel Services - Tour Company

1,465 employees 600 employees 345 employees 250 employees

Baxter Bio Science Skyworks Solutions Dole Food Company Securitas Security Service

Biotechnology Manufacturing Semiconductors Food Company Security & Investigations

950 employees 500 employees 300 employees 250 employees

Janss Marketplace California Lutheran University Farmers Insurance Guitar Center Management

Retail Center Private University Insurance Retail Sales - Musical Instruments

804 employees 472 employees 300 employees 230 employees

REGIONAL OVERVIEW

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THE SHOPS AT OAK CREEK

DEMOGRAPHICS

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AGOURA HILLS, CA

College Education

THE SHOPS AT OAK CREEK

DEMOGRAPHICS

HOUSEHOLDS WITH CHILDRENW/IN A 6-MILE RADIUS

Households w/Children66%

Householdsw/out Children34%

Affluent & Growing Population

Highly-educated and affluent population

Prime Buying Years

20

Large family community

28941/29105/29125/29145 CANWOOD STREET

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Medium Household Income

THE SHOPS AT OAK CREEK

DEMOGRAPHICS | INCOME MAP

2 Mile

4 Mile

6 Mile

Agoura Hills

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THE SHOPS AT OAK CREEK

TENANTS

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AGOURA HILLS, CA

Private1Agoura Hills, CA

OWNERSHIP:LOCATIONS:

HQ:

Your neighborhood bakery and cafe,

specializing in fresh baked artisan

breads, pastries and custom cakes.

Serving breakfast and lunch daily

made with our freshly baked bread,

Mary’s Organic Chicken and locally

grown produce. The bakery hosts

kids' parties for cake decorating and

more. They also have a large

wholesale business for baked goods.

Gourmet sandwiches and healthy

salads, made fresh by a fast, friendly

staff, in a comfortable modern cafe

setting. It all started in 2003 when

owner Tom Holt and his friend Pete,

came up with a unique bread recipe

and created a menu centered

around locally-sourced ingredients,

house-roasted meats, and crafted

sauces to give each creation its own

unique flavor.

Original Tenantwww.wfbakery.com

Original Tenantwww.urbanecafe.com

THE SHOPS AT OAK CREEK

TENANT INFORMATION

Private14Ventura, CA

OWNERSHIP:LOCATIONS:

HQ:

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Private2000Rosemead, CA

OWNERSHIP:LOCATIONS:

HQ:

America's favorite Chinese

restaurant. Founded in 1983, Panda

Express now has 2000 units in the

U.S., Puerto Rico, Guam, Guatemala,

Canada, Mexico, Dubai, Saudi Arabia,

Korea, and Japan. The chain is family-

owned and operated by the Panda

Restaurant Group. The company

does not offer franchising; all units

are company-owned and operated.

Gourmet sandwiches and healthy

salads, made fresh by a fast, friendly

staff in a comfortable modern cafe

setting. One bite of a Charburger

will transport you to a place where

cool ocean breezes sweep gently

through majestic green palm fronds.

MAKE IT A HABIT.

www. pandaexpress.com Original Tenantwww.urbanecafe.com

28941-29145 CANWOOD STREET

AGOURA HILLS, CA

THE SHOPS AT OAK CREEK

TENANT INFORMATION

NASDAQ: HABT$225M$332M5,358210Irvine, CA

OWNERSHIP:MARKET CAP:

REVENUE:EMPLOYEES:LOCATIONS:

HQ:

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THE SHOPS AT OAK CREEK28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

PrivateOWNERSHIP:

Veterinary clinic that specializes in

critical care and offers wellness,

emergency, and surgical services,

filling the gap between primary

veterinary care and the hospital

emergency room. Helmed by Dr.

Rachel Wallach and Dr. Carin

Ferdowsian, the center has a

steady stream of customers and is

backed by strong financing.

www. Oaksvetcare.com

THE SHOPS AT OAK CREEK

TENANT INFORMATION

Fire Island Grill was conceived by

five friends with years of

experience in the restaurant

business who love “the islands”.

Inspired by causal island living,

friendly people, sandy beaches,

crystal blue ocean and great food,

they decided to create a tropical

island escape that serves island-

inspired food for those of us who

can’t go away on vacation just yet.

www. fireislandgrill.com

Private3

OWNERSHIP:LOCATIONS:

NAIL BLVD - Upscale nail salon with multi-unit operator.

SAVVY SALON, THE STUDIO - (www.savvysalon.com) A haven for fresh ideas in beauty. Built inside a space that combines a clean, modern energy with friendly and inviting

warmth, The Studio is the place to find innovative products, tried-and-true beauty essentials and the latest trends (and beautiful classics) in cuts and color that you’ve come to expect

from Savvy Salon. Savvy Salon has operated in the Center since it was built and been in business in Agoura for over 15 years.

OTHER TENANTS

28941/29105/29125/29145 CANWOOD STREET

AGOURA HILLS, CA

Turning Retail Into Revenue Since 1986We Look Forward

to Hearing From

You!

MATTHEW MAY | President

matthew@mra.la | 818.528.3999 x100

BRE #00912472

RICHARD HUELSMAN | Managing Director

richard@mra.la | 310.463.3102

BRE #01956167

www.mra.la

MAY REALTY ADVISORS

15206 Ventura Blvd, Suite 302

Sherman Oaks, CA 91403

Phone: (818) 528-3999

Toll Free: (888)-805-8188