NYSE: "C" | NNN Lease Guranteed by , N.A. | S&P Rated " A+" CITIBANK - ABSOLUTE NNN 4191 N. Blackstone Avenue, Fresno, CA 93726

Brent L.Hensley | Star Barlava | 760-452-2401 | 310-408-5530 | [email protected] [email protected] 216 N. Coast Hwy 101, 355 N. Canon Encinitas, CA 92024 Beverly Hills, CA 90210 investment overview PURCHASE PRICE | $4,600,000 CAP RATE | 5.23%

Net Operating Income: $240,439 Price Per Square Foot: $406.07 Lease Commencement January 31, 2014 Date: Lease Expiration Date: January 31, 2024 Lease Type: NNN Increases: 1.5% Every Year Options: (4) 5 Year Options Guarantor: Citibank, N.A. Rentable Square Feet: 13,052 SF Lot Size: 1.38 Acres Year of Remodel: 1957/2014

address

4191 N. Blackstone Avenue, Fresno, CA 93726 overview investment overview

The subject property is a 13,052 s.f. (including loft area) square foot branch on 1.38 acres of land Within the immediate area of the Citibank is a hotbed and a long term 10 year lease (approximately 5+/- of national retailers beginning with the WalMart years remaining). This is a NNN lease guaranteed by shopping center across the street on Blackstone NYSE corporation; Citibank, N.A. Avenue. Petco, Bridgestone and El Pollo Loco are also located within this shopping center. Within easy The property is located at the hard corner, walking distance is Grocery Outlet, Boostmobile, signalized intersection of N. Blackstone Avenue and E. Valero, Carrows Restaurant, In-N-Out, Economy Inn, Ashian Avenue in Fresno, California. This is a superior high traffic location with Citibank, an international Motel 6, 7 Eleven, , Kelly Moore Paints, financial institution with great market presence, Carl's Jr. Block, Wendy’s, Jimmy Johns, Planet occupying this location since 2003. This location Fitness, Key Bank, Allstate, Steak n Shake, Bob Evans, features architecturally significant mid-century design and more. and offers high foot traffic due an abundance of More than 32,000 cars drive nearby the property national retailers nearby and it's proximity to each day, with easy access to Highway 41 Highway 41. (Yosemite Freeway). The average household The property is within close proximity to State Highway income exceeds$55,700 in a one mile radius of the and 41, which experiences more than 94,000 vehicles per day over 404,000 people with a five mile radius of this and is a main transportation corridor through the San Citibank location. Joaquin Valley. The trade area is supported by more than 80,000 daytime employees within a 3-mile radius. Fresno is a college town with California State University Fresno (with over 24,000 students) is just rent roll 3.1 miles (10 minute drive) from this Citibank location.

TENANT INFO lease terms current rent rent increases options lease type TENANT LEASE ANNUAL BASE LEASE SQUARE FEET DATE ANNUALLY NAME COMMENCEMENTDATE EXPIRATION RENT TYPE

1/31/2020 $244,046 CITIBANK, 1/31/2021 $247,706 1/31/2022 $251,422 N.A. 13,052 1/31/2014 1/31/2024 $240,439 (4) 5 Yr NNN 1/31/2023 $255,193

1.5% Annual Rent Increases In Each Option

NOTE: Tenant covers directly all property taxes and maintenance on the property. Citibank self-insures the property for casualty and liability coverage. investment overview highlights

STRONG GUARANTEE The property is leased to Citibank N.A., a wholly owned subsidiary of (NYSE: C), the fourth-largest bank in the United States by total assets. S&P Rated "A+" Stable Outlook. GREAT MSA LOCATION Located just off of Highway 41 (Yellowstone Freeway on Blackstone Avenue with Daily Traffic Counts Exceeding 32,000 Vehicles Per Day LOCAL VISIBILITY AND KNOWN LOCATION Freestanding building with a hard corner location, multiple points of ingress/egress and a drive-thru. The Citibank branch is located in the area’s commercial corridor and adjacent to an abundance of residential housing. DENSE RETAIL LOCATION Within the immediate area of the Citibank is a hotbed of national retailers beginning with the WalMart shopping center across the street on Blackstone Avenue. Petco, Bridgestone and El Pollo Loco are also located within this shopping center. Within easy walking distance is Grocery Outlet, Boostmobile, Valero, Carrows Restaurant, In-N- Out, Economy Inn, Motel 6, 7 Eleven, Red Roof Inn, Kelly Moore Paints, Carl's Jr. Block, Wendy’s, Jimmy Johns, Planet Fitness, Key Bank, Allstate, Steak n Shake, Bob Evans, and more. UNIVERSITY COMMUNITY California State University Fresno recently celebrated 100 years in the community of Fresno serving over 24,000 students per year. traffic counts | retail map address | 4191 N. Blackstone Avenue Fresno, CA 93726 32,163 VPD - N. Blackstone Avenue|2016 location property location

Citibank location is just 3 blocks west of Highway 41 (Yellowstone Highway) which is a north-south highway running through Fresno County, Ÿ California, beginning from Highway 99 north into the Sierra National Forest and Yosemite National Park (4 million visitors each year).

SAN JOSE

FRESNO employers major employers

*Sourced from Fresno EDC Fresno Unified School District 11,500 County of Fresno 6,500

Community Medical Centers 6,000 City of Fresno 3,780 Clovis Unified School District 3,370

Kaiser Permanente 2,603

Pelco 2,150 DOWNTOWN SKYLINE Saint Agnes Medical Center 2,031

- FRESNO, CALIFORNIA - California State University Fresno 1,671 Quinn Group, Inc. 1,178 household INCOMES | 5 MILES

1 Miles 3 Miles 5 Miles

AVERAGE $55,741 $51,570 $73,901 3 MILES MEDIAN $36,530 $36,153 $55,050

population | 1 MILES

1 Miles 3 Miles 5 Miles FRESNO TOTAL 14,823 167,088 404,338 CITIBANK HOUSEHOLDS 5,589 60,635 136,503

MEDIAN AGE 33.3 32.5 31.2

8 8 area overview

FRESNO CALIFORNIA

Fresno is a city in California, United States, the county seat of Fresno County. As of the 2010 census, the city' s population was 510,365, making it the fifth largest city in California, the largest inland city in California, and the 34th largest in the nation.

Fresno is located in the center of the San Joaquin Valley of Central California, approximately 200 miles north of Los Angeles, and 170 miles south of the state capital, Sacramento, and 160 miles east of Seaside on the Pacific Ocean. Metropolitan Fresno has a population of 1,107,416.

Southern entrance to Yosemite National Park - 65 miles to the north.

Fresno Yosemite International Airport is located just 0.7 miles (5 minutes) from the subject property. The number of airline passengers flying from and to Fresno Yosemite International Airport reached a record in 2016, topping 1.5 million travelers for the first time in the airport’s history.

Fresno supports a thriving retail economy and is currently home to 33 million square feet of retail space and 98 major retail centers.

California State University, Fresno was listed on Forbes "America's Best College List in 2018". As of 2018, the enrollment is 24,995 for undergraduates, graduates and post-baccalaureate SITE overview Great American Ball Park - Cincinnati Reds Great Amusement and Waterpark King Island | | NYSE:C tenant overview The lease is Guaranteed by Citibank, N.A. a wholly owned subsidiary of Citigroup, Inc.

Citigroup's operating expenses of $10.3 billion in the third quarter 2018 Third Quarter 2018 Results and Key Metrics decreased 1%, as higher volume-related expenses and investments were more than offset by efficiency savings and the wind-down of legacy assets. New York – Citigroup Inc. today reported net income for the third quarter 2018 of $4.6 billion, or Citigroup's net income increased to $4.6 billion in the third quarter 2018, $1.73 per diluted share, on revenues of $18.4 primarily driven by the lower effective tax rate as well as the lower billion. This compared to net income of $4.1 billion, expenses and cost of credit, as the revenues remained largely unchanged. or $1.42 per diluted share, on revenues of $18.4 Citigroup’s effective tax rate was 24% in the current quarter compared to billion for the third quarter 2017. 31% in the third quarter 2017.

Citigroup's revenues of $18.4 billion in the third quarter 2018 Citigroup's end-of-period deposits were $1.0 trillion as of quarter end, an were largely unchanged. Excluding the previously mentioned gains increase of 4% from the prior-year period. Excluding the impact of foreign on sale as well as the impact of foreign exchange translation, exchange translation, Citigroup’s end-of-period deposits grew 5%, driven revenues increased 4%, driven by growth in ICG. by 8% growth in ICG. | NUMBERS TO KNOW