OFFERING MEMORANDUM

BRUNSWICK COURT 32 W. Colorado Blvd. // Pasadena CA 91105

Owner-User or Investment Sale Opportunity in the Heart of

/ 1 / TABLE OF CONTENTS

01 02 03 04 05 EXECUTIVE PROPERTY FINANCIAL MARKET: MARKET: SUMMARY DESCRIPTION ANALYSIS PASADENA & OLD PASADENA COUNTY

EXCLUSIVE AGENTS JODI SHOEMAKE DAN BACANI CHRISTOPHER Principal Principal LARIMORE 626.240.2780 626.240.2781 President [email protected] [email protected] 626.240.2788 LIC. NO. 01833063 LIC. NO. 01385413 [email protected] LIC. NO. 01314464

Lee & Associates - Pasadena, Inc. // 155 N. Suite 430 // Pasadena CA 91101 // 626.535.9888 // #02059558 // lee-associates.com

/ 2 / CONFIDENTIALITY AGREEMENT & DISCLAIMER

Lee & Associates® – Pasadena, Inc. has been retained as the exclusive agents to list the property known as “Brunswick Court” located at 32 W. (aka 8 Mills Place), Pasadena, California for sale. The information contained in the following Offering Memorandum is proprietary and confidential.

This Offering Memorandum has been prepared to provide unverified summary information to prospective purchasers. The Brokers have not made any investigation and makes no warranty or representation regarding the information presented herein, including, but not limited to: income, expenses, size, projections, improvements, environmental issues, leases, general condition and compliance with State and Federal regulations.

The information contained herein has been obtained from third party sources that we believe to be reliable. However, it is the Buyer’s sole responsibility to verify all information and perform all due diligence. Lee & Associates® – Pasadena, Inc. Commercial Real Estate Services make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.

/ 3 / EXECUTIVE SUMMARY Lee & Associates-Pasadena, Inc. is pleased to present this exciting opportunity to purchase the Brunswick Court Building, located at 32 W Colorado in the City of Pasadena, a mecca of arts, cultural and business institutions only 12 miles from Downtown Los Angeles. The architecturally significant 3-story mixed-use office/retail building was built in 1887 and seismically retrofitted in 1988 with 50’ frontage on Colorado Blvd., home of the annual Tournament of Roses Pasadena. The property offers the new owner a unique opportunity to acquire a value-add, trophy investment or owner/user asset in the Old Pasadena Business District, widely known as one of the top shopping and entertainment districts in the US. The Brunswick Court Building’s neighboring retail tenants include the Apple Store, Tiffany’s, Zara, Cheesecake Factory, Athleta, Lululemon, Tesla, Forever 21, Sephora and Pottery Barn. Old Pasadena draws an average of 15,000-20,000 visitors on weekends and the City is home to the Tournament of Roses, Norton Simon Museum, Cal-Tech and JPL/Nasa.

EXECUTIVE SUMMARY / 4 / 01 INVESTMENT HIGHLIGHTS

PRESTIGIOUS CORNER LOCATION IN OLD PASADENA

• Mixed-use trophy Retail and Office building in Old Pasadena’s Premier Business & Shopping District. The Brunswick Court Building is eligible for the City of Pasadena’s Historic Property Contract Program established under the authority of a State enabled program known as the Mills Act

• Three-story mixed-use building consisting of ±4,013 square feet ground floor retail and ±6,742 square foot open plan office

• ±7,500 parking spaces located throughout the City, including public surface parking and public garages offering 90 minutes free parking

• Only 12 miles from Downtown LA, Pasadena’s rich history, cultural museums, fine dining, shopping and entertainment draw an average 15,000-20,000 visitors on weekends, which is enhanced by the increase in ridership on the MTA’s Gold Line

• Neighboring Tenants: Cheesecake Factory, Nike, Apple, Tiffany, Footlocker House of Hoops, Yogurtland, Sephora, M.A.C., Zara, True Food Kitchen

• Main lobby entrance accessed directly from Mills Place with elevator service

• Conveniently located in the heart Old Pasadena near the 710, 134 and 210 freeways. As a result, this 20-block area offers more than 130 specialty shops, retail stores and boutiques, 80 plus restaurants and entertainment. Pasadena is home to the Tournament of Roses, The , and California Institute of Technology (CalTech).

EXECUTIVE SUMMARY / 5 / 01 PROPERTY DESCRIPTION

ADDRESS LAND USE 32 W. Colorado Blvd. (aka 8 Mills Pl) Commercial Mixed Use, Retail/Office Pasadena, CA 91105 ZONING IMPROVEMENTS CD-1 The Brunswick Court building is on the Register of Historic Places and ASSESSOR’S PARCEL NUMBER qualifies for the Mills Act. 5713-007-005 Ground floor Retail: ±4,013 SF STREET FRONTAGE 2nd Floor Office: ±3,371 SF 51 feet on Colorado Blvd. 3rd Floor Office: ±3,371 SF 86 feet on Mills Place LOCATION AGE The Brunswick Court Building is Built in 1887 located on the south block between Renovated/Seismic Retrofit 1988 Fair Oaks Avenue and Mills Place in the Old Pasadena District of the CONSTRUCTION City of Pasadena in the Tri-Cities Wood frame on concrete slab with submarket of Los Angeles County concrete block exterior walls. Flat roof. BUILDING SIZE ±10,755 RSF OFFICE SPECS Elevator served. Secure entrance NUMBER OF FLOORS to 2nd & 3rd floor from Mills Place. Three (3) Open Floor Plans. High Ceilings. Large Windows. Kitchens. Private PARKING Restrooms. ±7,500 public parking spaces (90 minutes free)

CEILING HEIGHT Ground Floor: ±13 ft Second Floor: ±11.5 ft Third Floor: ±14.8 ft

PROPERTY DESCRIPTION / 6 / 02 AERIAL LOCATION

FAIR OAKS AVE.

DELACEY AVE. W. COLORADO BLVD. MILLS PLACE

^N MCCORMICK ALLEY

PROPERTY DESCRIPTION / 7 / 02 PROPERTY PHOTOS

PROPERTY DESCRIPTION / 8 / 02 2ND FLOOR OFFICE PHOTOS

PROPERTY DESCRIPTION / 9 / 02 3RD FLOOR OFFICE PHOTOS

PROPERTY DESCRIPTION / 10 / 02 W WALNUT ST E WALNUT ST

Telacu Pasadena Shell Gas Station Courtyard Apartments

Levitt Pavilion for the Marriott Performing Arts Courtyard by Marriott Pacific Alley

Everson Royce Wine & Tasting Memorial

Armory Center for the Arts Park

Marine Building Electric Drive Raymond Law Offices Renaissance Memorial Park SeniorPasadena Center Gold Line LAZ Parking Lot LAZ Parking Lot AVE N RAYMOND Station Lost ^ OLD PASADENA RETAIL MAP Maude at Therapy Woods Sea N

Waffles de Liege B.A.D. Sushi

Subway Hey, Hey, That’s Amore!

Here Juice Served Juice Located in 20-block area offering more than 130 specialty Old Pasadena Farmers Market HOLLYshops, retail STstores and boutiques, 80 plus restaurantsLEONARD and V. PIERONI ST F Every Sunday 9am - 2pm E HOLLY ST 100 N. Southern entertainment Lula Café California Elisa B. Mae Galleria Homage Bizou Funding Chocolate 80 N. Raymond uBreakiFix C’est la Vie Café Linda’s Jenette Bras Jenette Nepal Tortas Clock Shant’s Chado Tea Room Condominiums SWA Architects SWA Mexico Electric Drive Tibet Migno n Tibet Nepal House OSAWA Restaurant Wellness Sant é Salon Babette Meat District Co. Crowned Studio Hayes Alley Tea Rose Sam Lim LAZ Parking LAZ Parking ShanDong Eyelash Lab Garden Courtyard at ZVJ Bone Kettle Legge Alley Der Wolfskopf Old Towne Alley Kendall West East Fair Oaks Pub Brow Vertical Body Studio Wine Bistro Projects

Legge Alley Firm The The Blo Out Container Slater’s Lounge Blind 50/50 Flower N PASADENA AVE N PASADENA N FAIR OAKS AVE OAKS N FAIR Store Donkey Pepper N DE LACEY AVE N DE LACEY Grandview

Classic Kickboxing Gallery CREPEstudio Audio Element Chignon Hair Salon Harlowe’s Dip French DeWitt Algorri DeWitt Algorri POP Champagne Union Restaurant Union Sandwich Curatorial Assistance Curatorial Palace Clothes Heaven E UNION ST

W UNION ST 44 N. Rococo Patagonia California Enchantress One Colorado El Pueblo Room a | k | a Gold Bug Chutney King iPic Akbar Management Folk Art Taco

American Maestro Café La Lucé Deli Theaters Bistro Alter Ego Santorini Gelato by Il Fornaio The Kitchen Stick Station Cucina Anthropologie Eco Auto Home Brewed Bar Idealab Forever 21 Bonham Alley Italiana Russell’s Care Tortugas Mexican Alliance Française SOH Grill House One Colorado Smith Alley

Carr Alley Sushi Roku Courtyard Soap Mohawk Kitchen One Colorado Saigon Noodle General The Speakeasy Dots Hugus Alley Store Cupcakes Brainard Alley Christensen Alley Exchange Alley Sugarfina 16 N. Father Place Origins The Aveda Ramen Jimmy John’s Nature Bokaos cop. Retro Crate & Vendôme Tatsunoya Gourmet Gap copine Sandwiches Barrel OSKA J. Crew Store Finn & Willow

21 Choices Miller Alley Pottery Crown Douglas Alley Sephora Frozen Vince. Barn City AT&T Wells Fargo Fargo Wells Tesla Motors Tesla Splendid It’Sugar Scotch & Soda Kit & Ace Goorin Bros. Joie Kate Spade Running Nike M.A.C. Q’s Billiard Club Billiard Q’s Barney’s Beanery Barney’s Starbucks Sunglass Hut Lululemon Athletica Hot Wings Hot Wings Café A'Float Sushi Live MIXX IX Tapa Cantina IX Tapa Paper Source Paper Sur La Table Restoration Hardware 1810 Argentinean Free People Free Urban Outfitters Loan Evanthé Aveda Hair Salon Eileen Fisher Lather Neo Pasadena T-Mobile Mi Piace Italian Kitchen & Bakery Roling Home Fish on Tap Intelligentsia Indiana Colony Umami Burger Romantix The Shade Store Yogurt MACY’S 75 W. 3 W. 1 E. 65 E.LOT 83 E. SOUTH LOT W COLORADO BLVD BRUNSWICK E COLORADO BLVD

BurgerFeel 800 Bar Zara Degrees Vans

Lush Sprint Juice Le Pain Fresh Kabuki Pizzeria Jamba Factory Club 54 Athleta Business Quotidien SORRISO Choza 96 Wine Wine Bar Anderson

Madewell ‘lette - Innovation & Sushi Enya

True Food Bar Celona Banana Lou & Grey Crossroads Latest Scoop Trading Co. Trading Cotton On Sushi Stop Chase Bank Yogurtland

Lucky Brand Macarons Hello Gelato Aux Delices The 35er Bar Cheesecake Apple Store Kitchen Republic Watch Pasadena Tiffany & Co. Specstacular Distant Steve Madden Noodle World Ice Cream Bank of America Frida Tacos Salad Bar Poke Lab Prix Adornment Lands Kings Row Heavenly Couture Lucky Seiho International Title Gym

Edwin Alley Paradise Cookie Shop Bake Vanilla Dog Bakery Coffee Bean Gastropub Olive We Baldwins Pub Fraser Alley El Toreo Café Plotkin Alley Morgan Alley Edwin Mills Mercantile Place Bickley Printing by Equator Pivoine Nails & Spa White Bird Café 86 Eco Auto Horse

Pick - House of Hoops Footlocker Care Lounge Wokcano Café Old Pasadena Neon Retro Arcade Tea SpinFish General Bar Method Green Earth Church of Scientology Green Zone McCormick Alley Store John Aaroe Group Bellacures All India Café Braley Court Braley

Mills Place Himalayan Real Estate Services Alley Marmora Little Sheep Café De Lacey Z Gallerie Burke Williams Spa Mongolian Blick Art Materials Hot Pot Martin Alley Luxelab Harmony Nail Steiner Library De Lacey Beauty Zabon Ramen Eco Auto Amara Anna Elyse Care Chocolate Bridesmaids Brownlow Il Teatro & Café & Chen Lux Tots 3rd Generation 85°C Dog Haus 48 S. City Thai Bang & Bakery Café Schoolhouse Olufsen Cigars by Chivas Copa Vida Roche Bobois Old Focals Old Focals Green Street Street Green Tavern Escrow Scizzor Hair Salon Sofa U Love Zemrus Racion Restaurant Elite Fitness Salon Tangles FM Financial Molteni&C|Dada W GREEN ST E GREEN ST 82 S. Old Town Color Me Castle Romanesque Shaving URB-E Mine

Coffee Design Panache Catering Room Company

The Sofa The Company

a la Mode Palmpring Bridal BBQ Dining Recliners LA Recliners Boiling Point

Within Reach Within Heart & Sole

Farrow & Ball Farrow Bea’s Knees Rocco’s Tavern Rocco’s Buca di Beppo CorePower Yoga CorePower - Beyond Jin the Tea Shop Tea Jin the Lineage Performing the Olive Gyu-Kaku Japanese Arts Center Crêpes de Paris Salon Sessions Castle Green Studio Ivivva PROPERTY DESCRIPTION Iluminar Nail Spa Cozy Katie’s Stats Floral / 11 / Stylish Bakery Pure Barre DMI Music & Media Pasadena Chic Old Pasadena Collection Apartments W DAYTON ST Old Pasadena Pharmacy & Marketplace

Friendship Library Hall Baptist Lofts Church Pasadena Fire Dept. Station 31 02 Fishbecks Patio Center

Central Court

Baker Alley Baker GKK Works

Hair by S PASADENA AVE S PASADENA S RAYMOND AVE S RAYMOND S DE LACEY AVE S DE LACEY Cesaré PKWY S ARROYO Union Incycle Bicycles Salon J. Bullock & Associates S FAIR OAKS AVE OAKS S FAIR 175 S. The Hettema Group Pasadena Endoscopy Center W VALLEY ST old pasadena directory Map Central Dining, Nightlife, Park & Walk Garages Snacks, Coffee & Tea First 90 Minutes Free Park Stone Sushi Company Public Parking Kimagure Store Health, Beauty, & Spa

Luggage Room Valet Stand Pizzeria Del Mar Cultural, Community, V Gold Line & Specialty Services La Grande Station Metro Gold Line Station Orange Café Apparel & Accessories Ballard’s ATM Artwork Framing Home, Gifts, & Specialty Retail F Old Pasadena Farmers Market Updated December 2016 E DEL MAR BLVD OLD PASADENA PARKING MAP Plenty of parking available, ±7,500 parking spaces located throughout the City, including public surface parking and public garages offering 90 minutes free.

HOLLY AVE.

P

UNION AVE. AVE. OAKS FAIR RAYMOND AVE. RAYMOND P P P P DE LACEYDE AVE.

PUBLIC SURFACE PARKING PUBLIC SURFACE PARKING PUBLIC SURFACE PARKING COLORADO BLVD.

PUBLIC SURFACE PARKING PUBLIC SURFACE PARKING PUBLIC SURFACE PARKING

ROUTE 66 ROUTE MILLS PLACE MILLS SITE PASADENA AVE. PASADENA P P P P P ^N GREEN ST.

PROPERTY DESCRIPTION / 12 / 02 MAP LOCATION Brunswick Court at 32 W. Colorado Boulevard is conveniently located in the heart Old Pasadena near the 710, 134 and 210 freeways. As a result, this 20-block area offers more than 130 specialty shops, retail stores and boutiques, 80 plus restaurants and entertainment. Pasadena is home to the Tournament of Roses, The Rose Bowl, and California Institute of Technology (CalTech).

^N

BRUNSWICK COURT

PROPERTY DESCRIPTION / 13 / 02 FLOOR PLAN Existing Ground Floor Retail Space ^ N

A

B W. COLORADO BLVD. COLORADO W. VACANT C

PROPERTY DESCRIPTION / 14 / 02 FLOOR PLAN Ground Floor Retail // Proposed Demising Option #1 ^ N VACANT C

Common Restrooms ±513 SF W. COLORADO BLVD. COLORADO W.

VACANT 1900 SF

PROPERTY DESCRIPTION / 15 / 02 FLOOR PLAN Ground Floor Retail // Proposed Demising Option #2 ^ N VACANT

Common Restrooms ±513 SF VACANT W. COLORADO BLVD. COLORADO W.

VACANT

PROPERTY DESCRIPTION / 16 / 02 FINANCIAL ANALYSIS 2018 ANNUALIZED OPERATING DATA Proforma with Income Current Proforma Mills Act Gross Income: $220,152 $656,244 $656,244 CAM REIM (4,013 SF Retail): $8,352 $77,531 $38,766 Effective Gross Income: $228,504 $733,775 $695,766 Total Expenses: $85,878 $211,557 $135,173 NOI: $142,626 $522,219 $560,592 2017 EXPENSES

Repairs & Maintenance $24,576 *1 $ 15,000 $ 15,000 Taxes & Licenses*2 $19,870 $ 152,767 *2 $ 76,383 *3 Janitorial $1,210 $ 1,210 $ 1,210 Insurance $3,680 $ 6,035 $ 6,035 Management Fees $14,500 $ 14,500 $ 14,500 Utilities-Water-Power- City $16,067 $ 16,070 $ 16,070 Alarm $1,274 $ 1,274 $ 1,274 Fire Protection $4,701 $ 4,701 $ 4,701

TOTAL EXPENSES: $85,878 $211,557 $135,173 Expenses/SF $7.98 $19.67 $12.57

NOTES: *1 includes $13,328.00 roofing expense LIST PRICE: $13,000,000 PROFORMA CAP RATE: 4.02% *2 based on increase in property taxes due to sale @ $13,000,000 *3 Based on acceptance from the City of Pasadena Historic Property Program into the Mills BUILDING SIZE: ±10,755 SF PROFORMA CAP RATE 4.30% Act (California Government Code, Article 12, WITH MILLS ACT: Sections 50280-50290). Lee & Assoc makes no representations or guarantees of acceptance into the Mills Act program PRICE PER SQ FT: $1,208.74

FINANCIAL ANALYSIS / 17 / 03 PASADENA // OLD PASADENA

PASADENA // WALKABLE CITY WITH WORLD RENOWNED AMENITIES AND QUAINT HISTORIC CHARM With an estimated population of Pasadena of 142,059 residents, Pasadena is opportunity to live, work, and play in a vibrant, urban setting and authentic the 183rd-largest city in the United States. Pasadena is the ninth-largest city in downtown experience. Los Angeles County. Pasadena was incorporated on June 19, 1886, becoming Explore 22 historic blocks with over 200 shops and restaurants. From the early one of the first cities to be incorporated in what is now Los Angeles County, days in the late 19th century and the boom years of the early 20th century, following the city of Los Angeles (April 4, 1850). It is one of the primary cultural to the decay and neglect of the 1960s and 1970s and its amazing revival centers of the San Gabriel Valley. in the 1990s, Old Pasadena showcases a rich patina of nearly 150 years of development, change, and the care of many stakeholders. The city is known for hosting the annual Rose Bowl football game and Tournament of Roses Parade. In addition, Pasadena is also home to many Today, the historic streets and alleyways, rustic brick façades, and architectural scientific and cultural institutions, including Caltech, JPL, Pasadena City accents of Pasadena’s original business district create an authentic streetscape College, Fuller Theological Seminary, ArtCenter College of Design, the of open-air eateries, specialty boutiques, galleries, theaters, and much more—a Pasadena Playhouse, the Ambassador Auditorium, the Norton Simon Museum, skillful blend of old and new that has reclaimed the heritage of Pasadena’s early and the USC Pacific Asia Museum. downtown charm.

Pasadena is nestled along the San Gabriel Mountains. With an enviable climate, Old Pasadena offers an ideal environment for success - a central location with charming neighborhoods, world-class cultural institutions, and numerous immediate freeway and transit access, a high-quality client base, high-tech schools and universities, the city offers its residents culture, commerce, infrastructure and innovation opportunities, and world-class amenities. convenience, and a community that feels small town and neighborly.

Old Pasadena, the city’s historic commercial district, offers residents a unique

MARKET: PASADENA // OLD PASADENA / 18 / 04 DEMOGRAPHICS / TRAFFIC COUNTS

BUSINESS Key Facts Education Pasadena, California (Ring of 1 mile)

65,113 4,930 $576,180 $64,570 Total Businesses Total Employees $857,501 $105,221 12% 12% AverageHomeMedian Home Value Value AverageMedian HH Income No HS Diploma HS Graduate

EMPLOYMENT 8.9 Home Value to Income Ratio 35.1 19,530 20% 57% Median Age Households 76% Some College Degree or Higher Age Profile White Collar

9% 3.4% 12 Blue Collar Unemployment 15% Rate Services 8 Percent

4 ANNUAL HOUSEHOLD SPENDING

Tapestry Segments

0

0-4 5-9 85 $2,672 $220 $4,286 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75-79 80-84 3B Metro Renters 51.8% 10,107 households of Households Apparel & Computers & Eating Out Dots show comparison to Los Angeles County Services Hardware Households By Income International $5,894 $5,712 The largest group: $50,000 - $74,999 (16.5%) 13A 14.7% The smallest group: $25,000 - $34,999 (7.2%) Marketplace Groceries Health Care of Households Indicator Value Difference 2,878 households <$15,000 14.0% +3.0% $15,000 - $24,999 7.3% -1.9% Directi Distan Street Count year 1 Cross street Traffic 1 on ce $25,000 - $34,999 7.2% -1.1% 3A Laptops and Lattes 8.1% $35,000 - $49,999 10.5% -1.1% 1,585 households of Households N Marengo Ave 2001 E Union St 19,804 SW 0.1 $50,000 - $74,999 16.5% 0 $75,000 - $99,999 11.1% -0.6% E Colorado 1999 N Marengo Ave 25,583 SW 0.1 $100,000 - $149,999 15.9% +1.0% Blvd $150,000 - $199,999 8.1% +0.9% $200,000+ 9.4% -0.2% N Marengo Ave 2005 Ramona St 21,645 NW 0.1

E Colorado 2013 N Euclid Ave 16,034 SE 0.2 Blvd

S Marengo Ave 1999 Morgan Aly 19,972 SW 0.2

Bars show deviation from Los Angeles County Closest 25 locations MARKET: PASADENA // OLD PASADENA / 19 / 04 LOS ANGELES COUNTY

• Greater Los Angeles consists of five counties: Los Angeles, Riverside, Orange, Ventura and San Bernardino. • Los Angeles County has a diverse population and economic base with a number of Fortune 500 companies headquarters in the region including Healthnet, Qualcomm, Avery Dennison and many more. • With a population of more than ten million people, Los Angeles County is the most populous county in the United States. Its population is larger than that of 40 individual U.S. states with 88 incorporated cities and many unincorporated areas totaling 4,751 square miles. • Los Angeles County is commonly associated with the entertainment and digital media industry; all six major film studios—Paramount Pictures, 21st Century Fox, Sony, Warner Bros., Universal Pictures, and Walt Disney Studios—are located within the county.

• The county is home to more than one quarter of all California residents and is one of the most ethnically diverse counties in the U.S. As a city, the metropolitan area is the second largest in the country. Thirty of LA’s suburbs have population of 80,000 or more. LA County is very diverse, with a population from over 140 countries and the largest Latin- American and Asian -American population of any US city.

• Los Angeles County enjoys the most diverse topography; it borders 70 miles of coast on the Pacific Ocean and encompasses mountain ranges, valleys, forests, islands, lakes, rivers, and desert. The Los Angeles River, Rio Hondo, the San Gabriel River and the Santa Clara River flow in Los Angeles County, while the primary mountain ranges are the Santa Monica Mountains and the San Gabriel Mountains.

• Los Angeles County boasts numerous major universities and colleges to include UCLA, USC, Pepperdine, Loyola Marymount University and five California State Universities.

MARKET // LOS ANGELES COUNTY / 20 / 05 BRUNSWICK LOCAL MARKET INVESTMENT ADVISORS JODI SHOEMAKE Principal COURT 626.240.2780 [email protected] 32 W. Colorado Blvd. Lic. No. 01833063 PASADENA • CALIFORNIA DAN BACANI Principal 626.240.2781 [email protected] Lic. No. 01385413

CHRISTOPHER LARIMORE President 626.240.2788 [email protected] Lic. No. 01314464

LEE & ASSOCIATES® — PASADENA, INC. Corporate ID# 02059558 A Member of the Lee & Associates® Group of Companies

© 2018 Lee & Associates, Inc. The information contained in this document 155 N. Lake Avenue, Suite 430 has been obtained from sources believed reliable. While Lee & Associates, Pasadena, CA 91101 Inc. does not doubt its accuracy, Lee & Associates, Inc. has not verified it 626.535.9888 [ main ] and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. www.Lee-Associates.com

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