DEVELOPMENT OPPORTUNITY 1630 I STREET Sacramento, CA EXCLUSIVE LISTING AGENTS: MIKE RILEY, Senior Managing Director KELLY RIVETT, Senior Managing Director 916 569 2329 916 569 2385 [email protected] [email protected] CA RE License #00955165 CA RE License #01249433 Although all information furnished regarding property for sale, rental, or fi nancing is from sources deemed reliable, such information has not been verifi ed and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or fi nancing, or withdrawal without notice and to any special conditions imposed by our principal. 16-1660•04/17 1630 I STREET TERMS OF OFFERING On behalf of the Owner of the property referenced herein (“Property”) present this Confi dential Offering Memorandum (“Memorandum”) to assist the recipient(s) (“You” or “Your”) in evaluating the Property and it is intended for Your use only. This Memorandum contains brief, selected information pertaining to the Property and should not be considered all-inclusive or permanent. The information in this Memorandum has been obtained from sources believed to be reliable, but has not been verifi ed and is not guaranteed. You should independently verify each item of information and have the same reviewed by Your tax advisor and/or legal counsel. Assumptions, projections, estimates and/or opinions are provided as examples only and all information is subject to changes, errors, omissions and/or withdrawal without notice. Broker and Owner assume no responsibility for and make no warranty as to the accuracy or completeness of any information in this Memorandum. Broker and Owner expressly disclaim any implied or expressed warranties of merchantability, fi tness for a particular purpose or non-infringement of intellectual property relating to this Memorandum. In no event shall Broker or Owner be liable for any damages resulting from the reliance on or use of any information in this Memorandum, including but not limited to direct, special, indirect, consequential or incidental damages. By accepting receipt of this Memorandum, You agree to the following: (a) This Memorandum is of a highly confi dential nature, will be held in the strictest confi dence and shall be returned to Broker upon request; (b) You shall not contact any property manager, employee or tenant of the Property regarding the Property or this Memorandum, without prior approval of Broker or Owner; and (c) You understand and agree that Broker represents Owner and not You. Neither Broker nor Owner shall have any obligation to pay any commission, fi nder’s fee, or any other compensation to any broker or other person. By accepting receipt of this Memorandum, you agree to defend, indemnify and hold harmless Broker and Owner (including all of their agents, employees, subsidiaries, affi liated entities, successors and assigns) from and against any and all claims, disputes, litigation, demands, damages, liabilities, losses, judgments, expenses, fi nes, contributions, charges, injuries and/or costs and expenses, including reasonable attorneys’ fees, arising or resulting from acts by You. Legal documents and reports summarized in this brochure are not intended to be comprehensive statements of the terms and contents of such documents and reports. Although Broker and Owner believe the information to be accurate, no warranty or representation is made as to its accuracy or completeness. Interested parties should conduct independent investigations and reach conclusions without reliance on materials contained herein. The Property shall be sold AS-IS, WHERE-IS, WITH ALL FAULTS, and Seller makes no warranties, representations, certifi cations nor “to the best of my knowledge” type statements to the status of the Property, the improvements thereon, potential use, economic feasibility, environmental matters, the availability of development rights or permits or any other matters. Seller will not incur any obligations that extend beyond the Closing. OFFERING PROCESS Offers should be delivered to the offi ce of the Exclusive Listing Broker, Newmark Cornish & To facilitate analysis of offers, prospective buyers are encouraged to provide information Carey, by fax at (916) 920-0854, or by contacting: relative to: funding sources, experience in owning and operating similar properties, familiarity with the market and any other information which is likely to favorably refl ect MICHAEL RILEY, Senior Managing Director KELLY RIVETT, Senior Managing Director on the offerer’s ability to close this proposed transaction in a timely manner. 916 569 2329 916 569 2385 [email protected] [email protected] CA RE License #00955165 CA RE License #01249433 1630 I STREET TABLE OF CONTENTS EXECUTIVE SUMMARY REGIONAL OVERVIEW SACRAMENTO ON THE RISE RECENT ARTICLES 1630 I STREET SITE PLAN EXECUTIVE SUMMARY 1630 I STREET EXECUTIVE SUMMARY Newmark Cornish & Carey is pleased to present for sale an infi ll development opportunity located within the “theater” district of Sacramento, CA. This opportunity allows an investor/developer to acquire three (3) existing structures totaling 32,000 SF on .73 acres. Currently, the Property generates income through monthly paid parking and offi ce tenant lease. Current ownership has explored multi-family development with ground fl oor retail, but the site is also ideally located for offi ce or retail development. With demand outpacing supply for apartments, and offi ce and retail vacancy rates at single digits, this infi ll site makes long-term investment sense to any and all investors. 1630 I STREET OFFERING SUMMARY PARCEL MAP Offering Price: Unpriced I STREET Address: 1630 I Street Sacramento, CA 95814 Property Type: Offi ce/Parking Lot (current) Building SF: Three (3) structures = 32,000 SF 1. 4,000 SF Retail/Offi ce (leased) 2. 8,000 SF Metal Warehouse (paid parking) 3. 20,000 SF Concrete Tilt-Up (paid parking) Parcel 006-0064-013 Information: Parcel Size: 32,000 SF / ±.73 Acres PROPOSED MULTI-FAMILY DEVELOPMENT Frontages: 200’ on I Street 160’ on 17th Street Zoning: C-2-NC 1630 I STREET INVESTMENT HIGHLIGHTS • Development site (potential offi ce/retail or multi-family) • Existing income in place (monthly parking/offi ce tenant) • Located in the “theater” district • Midtown, Class A offi ce occupancy rate is 92%± • Downtown/Midtown apartment’s occupancy rate is 98%± • Sacramento year-over-year income growth is 12%± • Tremendous investment potential in a high demand market • Walking distance to top-rated restaurants, coffee shops, museums, employment, parks, public transportation, and entertainment venues. 1630 I STREET SITE PLAN REGIONAL OVERVIEW 1630 I STREET 1630 I STREET REGIONAL OVERVIEW SACRAMENTO HIGHLIGHTS BUSINESS CLIMATE AND WORKFORCE The Sacramento region is comprised of 100 square miles and is located 75 With a unique and increasingly healthy mix of economic opportunities for miles northeast of San Francisco and 90 miles southwest of Lake Tahoe. companies and job seekers alike, the Sacramento Region has experienced With roughly 2.2 million residents, Sacramento serves as the capitol city of strong population and steady job growth over the last few decades and is California, the sixth largest economy in the world. Sacramento is undergoing expected to outpace the national average by more than double over the a renaissance where rich history, a diversifi ed business climate, agriculture next ten years. This growth is credit to the diversifi cation and strength affl uence, and quality of life has drawn national attention. of the region’s economic base—with a shift from primarily government employment to include private sector employment that now represents Government Employed 25% dynamic and expanding industries including high technology, life sciences, Current Unemployment Rate 5.5% agriculture, hospitality, education, healthcare, and clean energy technology. In fact, the renewable energy and clean energy technology industries have Sacramento has experienced a population growth of 21% since year 2000 been investing in the Sacramento Region at levels never seen before and an increasing number of national and international fi rms are choosing the Population Growth Between 5% 2010-2015 Sacramento Region as their base of operations for the United States. In addition to the Sacramento Region’s strengths for traditional businesses, including lower costs, a positive business climate, and high quality of life, the region is seeing a new wave of technology companies moving to the area to take advantage of an entirely new set of competitive advantages. These advantages include strong educational and research institutions, location of the state capital, proximity to the San Francisco Bay Area, an emerging venture capital network, premier sites and facilities, and a qualifi ed technical workforce. 1630 I STREET REGIONAL OVERVIEW SACRAMENTO REGION EMPLOYMENT BY INDUSTRY 1.5% 1.5% 1% 3% 4% Government- State and Federal 5% 25% Transportation, Trade and Utilities Health and Education Services 5% Professional and Business Services Hospitality and Leisure Financial Activities 10% Construction Manufacturing LARGEST SACRAMENTO REGION EMPLOYERS PRIVATE SECTOR Other Services 16% Information Services Company Employees 13% Agriculture UC Davis Health Systems 9,900 Sutter Health 7,300 Mining and Logging Kaiser Permanente 6,900 15% Intel Corporation 6,000 AT&T 4,700 Raley’s Inc. 3,200 Hewlett Packard 3,200 Apple Inc. 2,500 Wells