OFFERING MEMORANDUM 910 JEFFERSON BLVD WEST SACRAMENTO, CA 910 JEFFERSON BLVD Executive Summary

Property Highlights PRICE • Exceptional two tenant investment at prime location at the Jefferson $620,000 / 6.4% Estimated Cap Rate Blvd Business 80 exchange, just two minutes to Downtown Sacramento. • Seasoned tenants with good remaining lease term. The freestanding FIRST YEAR ESTIMATED NOI Jefferson Park Veterinary Clinic is in its seventh year of operation. $39,400 The very busy Golden 1 Union walk up ATM has been servicing customers at this location since 2003. TENANTS • Property is in excellent condition. In 2011, the building received a Jefferson Park Vetinary Clinic new roof, new siding, and paint and in 2015, new HVAC was installed Golden 1 Credit Union on the roof. Also in 2011, over $30,000 was spent on asphalt and concrete repair, and ADA compliance of the site including new PERCENTAGE LEASED driveway & sidwalk. 100% • Excellent visibility and building signage on Jefferson Boulevard, the primary arterial servicing the fast growing Southport area. RENTABLE SQUARE FEET 1,560 SF freestanding building plus a walk up ATM • Neighboring retailers include: Walgreen’s, Safeway, Raley’s, Big Lots, Rite Aid, O’Reilly’s, Chase Bank, AutoZone, Aaron’s, MetroPCS, Subway, Little Caesar’s, US Bank, Midas, La Bou, H&R Block, Liberty Safes. • Nearby West Sacramento major employers include United States Postal Service (regional), State of California (General Services Agency), ANNUAL RENTAL REVENUE California State Teachers’ Retirement System (CALSTRS), United $36,635 - CPM VETERINARY PRACTICE, INC. Parcel Service (UPS Regional), Raley’s/Bel-Air Headquarters, Tony’s $14,400 - GOLDEN 1 CREDIT UNION Fine Foods/United National Foods, Nor-Cal Beverage, Clark Pacific, $51,035 - TOTAL and Aetna Healthcare. • Two blocks from the West Sacramento Civic Center, Community ESTIMATED OPERATING EXPENSES Center & the West Sacramento Campus of Sacramento City College $6,935 - TAXES • Nearby Bridge Street District & Washington District will continue to $700 - see significant development in the coming years including 10 million $2,000 - MAINTENANCE square feet of residential & commercial projects supporting 10,000 $2,000 - OTHER EXPENSES new residents and 16,000 jobs. Major infrastructure has been funded $11,635 - TOTAL and is underway. • West Sacramento, a major regional employment center of over 151,300 ANNUAL NET INCOME people, enjoys a large daytime population. $39,400

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Property Overview

Address: 910 Jefferson Blvd West Sacramento, California 95691

Year of Construction: Estimated in the 1950s with subsequent remodels

Building Size: 1-story building with 1,560 SF and a walk up ATM

Site Size: Approx. 0.4 acres (approximately 17,346 square feet)

Parcel Numbers: 058-011-16-1

Zoning: C-2

Access: Private vehicles can access through Jefferson Blvd and Park Avenue

Utilities: Water: City of West Sacramento Electricity: Pacific Gas & Electric Gas: Pacific Gas & Electric

Flood Hazard: Subject property is located in Zone X: Area of minimal flood hazard, usually depicted of FIRMS as above the 500-year flood level (per FEMA)

Seismic Hazard: This site is not located in a Special Study Zone as established by the Alquist-Priolo Geological Hazards Act

Parking: Shared non-exclusive common area parking and access with adjacent shopping center to the North

910 JEFFERSON BLVD WEST SACRAMENTO, CALIFORNIA /3 1 f o

1 Property Overview

910 : JEFFERSON BLVD t ee Sh ,

PARCEL3301 MAP - 95691 CA SACRAMENTO WEST , BLVD JEFFERSON 921 , 1 - 03 - 014 - 058 - 2008 - 2007 , CA o, l o Y

DEMOGRAPHICS

1-mile 2-mile 3-mile

Population 11,345 52,375 104,138

AHH Income $56,928 $60,578 $71,564 Daytime 15,046 147,176 221,733 Population

910 JEFFERSON BLVD WEST SACRAMENTO, CALIFORNIA /4 910 JEFFERSON BLVD Tenant Summary

Jefferson Park Veterinary Clinic is a family owned veterinary clinic established to serve the West Sacramento community. Jefferson Park Veterinary Clinic is a full service, high quality, small animal veterinary practice. Their team of caring, professional staff, their doctor and consulting specialists (radiologists and surgeons) strive to provide the best possible veterinary care. Their newly remodeled, modern facility is large enough to provide the latest medical treatments and specialty diagnostics, but small enough to offer caring individualized care. The clinic has an open concept and is bathed in sunlight from skylights and many windows. They have a state of the art clinical laboratory, anesthesia and patient monitoring equipment, a surgical suite, radiology, ultrasound, EKG, endoscope, oxygen cage and heated cages for post-op recovery.

GENERAL TENANT INFORMATION RENT DETAILS

FIRST 5 YR OPTION Current Rent $3,052.92 8/1/18 - 7/31/19 $3,144.51 CPM VETERINARY PRACTICE INC. 8/1/19 - 7/31/20 $3,238.84 8/1/20 - 7/31/21 $3,336.00 -PERSONAL GUARANTEE BY DR. CAROL P. MANDELL SECOND 5 YR OPTION -LEASE COMMENCEMENT AUGUST 1, 2012 8/1/21 FMR - No less than current rent with 3% increases thereafter

The Golden 1 Credit Union (or Golden 1) is a credit union headquartered in Sacramento, California. There are currently 80 branches located throughout the State of California. Golden 1 currently serves 38 of the 58 counties in California. Founded in 1933 as California State Employees Credit Union #1, it changed its name to Golden 1 in 1977. As of June, 2016, Golden 1 had in excess of $10 billion USD in assets and more than 787,000 members making it the 6th largest credit union in the United States and the second largest credit union in the State of California. The current President & CEO is Donna A. Bland. On June 16, 2015, Golden 1 acquired naming rights for a new arena in downtown Sacramento to replace the Sacramento Kings’ . At a cost of $120 million over 20 years, with an average annual value at $6 million, it is one of the largest naming rights deals for a single-tenant NBA arena.

GENERAL TENANT INFORMATION RENT DETAILS

Current Rent to $1,200/MONTH 2/28/20

GOLDEN 1 CREDIT UNION FIRST OPTION $1,320/MONTH 36 months -ATM KIOSK FOR ALMOST 18 YEARS 3/1/20 - 2/28/23 -LEASE COMMENCEMENT APRIL 1, 2003 SECOND OPTION $1,399.20/MONTH 24 months 3/1/23 - 2/28/2025

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Location Aerial

CIVIC CENTER WASHINGTON DISTRICT N

COMMUNITY CENTER

COMMUNITY COLLEGE JEFFERSON BLVD - 30,460 ADT RALEY FIELD

LIBRARY TOWER BRIDGE GATEWAY - 9,300 ADT

BRIDGE ST DISTRICT

110,000 ADT

SITE

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Area Aerial

N DENSE RESIDENTIAL

5

WASHINGTON DISTRICT HISTORIC OLD SACRAMENTO GOLDEN 1 RALEY ARENA FIELD WEST SACRAMENTO

STATE BRIDGE ST CAPITOL 80 DISTRICT SITE SAN FRANCISCO DOWNTOWN SACRAMENTO

DENSE RESIDENTIAL

50 LAKE TAHOE 5

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Key West Sacramento Assets The Bridge District is the region’s first LEED neighborhood, planned for 4,000 • Global Food Industry Hub: 35 food producers & distributors high-rise homes, offices, retail and entertainment venues. Plans are underway for • 500 acres of City and Port-owned land a streetcar line that will connect the Bridge District with the State Capitol.

• Sacramento River Cats, AAA team and Raley Field, stadium and event center The City offers new and established neighborhoods for all ages and incomes, • Close Proximity to State Capitol /Downtown Sacramento including town homes, lofts and master planned new home communities. • Close Proximity to UC Davis Regional amenities abound including the West Sacramento River Walk and 11 • Center of intersection of all interstate highways: I-5, I-80, US50 miles of riverfront for boating, sailing, fishing and paddle boarding. The River City • Sacramento City College Downtown Center Rowing Club and the U.C. Davis Rowing Club hosts NCAA championship races • U.S.P.S. Regional Processing Center & UPS Regional Center at the Port of West Sacramento. Well-maintained parks and bicycle trails are • Port of West Sacramento & Foreign Trade Zone #143 located throughout West Sacramento. The southern “Southport” area features • Port Area is “Craft Beer District” new, master-planned home communities, parks and schools, near the City’s Recreation Center, which offers tennis courts, rock climbing wall, pools for adults and children, and a large water slide. West Sacramento Overview West Sacramento’s City Hall and Civic Center, Community Center, Yolo County Public Library and Sacramento City College anchor West Sacramento’s downtown West Sacramento is a vibrant riverfront community located across the Sacramento River revitalization. The Community Center houses the City’s award-winning, universal and minutes from the State Capitol and downtown Sacramento. It is recognized as an preschool programs, an art gallery, and black box theater and community rooms innovation leader in the region and a growing center of commerce, with an expanding for leisure classes, meetings and performances. Educational choices include cluster of food industry companies. Urban farms dot the landscape, providing fresh public, private and charter schools, the UC Davis Early College Prep High School, produce to residents and restaurateurs. Incorporated in 1987, West Sacramento Career Tech Academy and Culinary Arts and Farm-to-Fork Education program. encompasses approximately 23 square miles, with a population approaching 50,000 people. West Sacramento is home to Raley Field, the 14,500 seat stadium for the West Sacramento offers ample business space and land, high-quality water Sacramento River Cats, the #1 minor league in the AAA, and affiliate of the San and a full suite of business services. Home to global companies Bayer Crop Francisco Giants. A regional entertainment center, Raley Field offers scenic views of Science, Siemens Healthcare, McKesson, Xerox and Miyamoto International, West the Sacramento skyline during games, concerts and festivals. Raley Field anchors the Sacramento is also proud to host locally-grown companies including Raley’s/Bel developing Bridge District, a 180-acre, development area between the Tower Bridge Air Markets, Nor-Cal Beverage, and Tony’s Fine Foods. Public agencies include the and the Pioneer Memorial Bridge. Over 1,000 new homes have been occupied along this California Fuel Cell Partnership, the California Department of General Services, one-mile stretch of Sacramento riverfront, near Garden Park and riverfront bicycle trails. and headquarters offices of the California State Teachers Retirement System.

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Sacramento Regional Overview

• A recent Wall Street Journal states that Sacramento is California’s newest • Greater Sacramento is hosting more international business activity than real estate hot spot and leads with “Price cuts have been replaced by ever before. Roughly one in every four companies that is showing interest bidding wars. A once-sleepy downtown is flush with urban-renewal in investing and creating jobs in the Sacramento Region has a parent projects. A luxury condo tower with penthouses priced over $4 million is company in another country. This is also reflected in recent successes— under construction. Sacramento, CA, long seen as a fairly bland government of the last 17 companies the organization assisted with expansions or new locations, nine were based outside of the U.S. For four of them, this town, is in the midst of a real estate boom.” Highlights include a 3.2 billion was their first location in the U.S. dollar investment in an urban renaissance including the new Golden 1 Center and Downtown Commons. At 8% year over year, rent growth for • Over 400 separate food crops are grown in California. Food production apartments is the fastest growing among major U.S. metro areas. The is a $54 billion industry in California, with over $21 billion coming from office sector is considered a top 5 market for investments due to strong foreign exports. Agri-business leaders like H.M. Clause, Bayer Crop Science, and Monsanto know the value of the Central Valley. Revolutionary job growth, low vacancy rates, and healthy rent growth. Retail absorption technology is developed and implemented here every day. And these continues to reduce vacancy across the region. The West Sacramento industry innovators have a significant presence in Greater Sacramento, submarket contains over 1.8M square feet of retail with no space listed for the heart of the Central Valley region. sublease. The submarket has one of the lowest retail vacancy rates of any submarket in the region with overall vacancy at 3.1%. The market should • The Greater Sacramento region is a national hub for renewable energy research and development. The area hosts over 200 green firms and continue its pattern of falling vacancy throughout 2017. organizations, many with headquarters in the region. • The Sacramento region is experiencing a profound shift in its competitive • Anchored by Northern California’s best healthcare system, Greater position, thanks in large part to an influx of entrepreneurs, businesses, Sacramento is a life science and health service destination. Dignity creative professionals, and a highly-educated, STEM-driven talent base. Healthcare, Kaiser Permanente, Sutter Health, and the UC Davis Health • The City of Sacramento’s Innovation Zone is a set of initiatives that System are primary drivers of discovery. UC Davis Medical Center is concentrates resources and amenities to help provide the infrastructure and on the cutting edge of treatments and cures. Greater Sacramento’s support fresh companies need to grow. The City of Sacramento’s limited healthcare system ranks among the top in the nation for cancer treatment, partnership with 500 Startups, the world’s foremost seed investor group, is cardiovascular care, and treatment of strokes. UC Davis School of part of its ongoing commitment to the region’s tech future. Veterinary Medicine is ranked #1 in the world. Greater Sacramento is a leader in genomic and biomedical research, and life sciences industries.

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BUSINESS N LOOP 80

CHP ACADEMY

Area Overview, continued

The major league sports teams that call the Sacramento region home include the Sacramento Kings, who play in the new innovative Golden 1 Center just 3 miles away from subject property. West Sacramento BUSINESS DOWNTOWN LOOP is the home of the AAA baseball team, the River Cats, and a state-of- 80 SACRAMENTO the-art, multi-use baseball complex, Raley Field. The River Cats are the PROPERTY minor league affiliate of Major League Baseball’s San Francisco Giants. PORT OF SACRAMENTO NNEL HA SACRAMENTO RIVER R C TE WA P E E D SOUTHPORT

RIVER CITY HIGH SCHOOL

910 JEFFERSON BLVD WEST SACRAMENTO, CALIFORNIA /10 Confidential Offering Memorandum 910 JEFFERSON BLVD, WEST SACRAMENTO, CA

CONFIDENTIALITY & DISCLAIMER Shaun Morrow, CCIM Senior Director 916-617-4242 The information contained in this marketing brochure (“Materials”) is proprietary and confidential. It is intended to be re- [email protected] viewed only by the person or entity receiving it from Cushman & Wakefield (“Agent”). The Materials are intended to be used LIC #00548078 for the sole purpose of preliminary evaluation of the subject property (“Property”) for potential purchase.

The Materials have been prepared to provide unverified summary financial, physical, and market information to prospective buyers to enable them to establish a preliminary level of interest in potential purchase of the Property. The Materials are not to be considered fact. The information contained in the Materials is not a substitute for thorough investigation of the financial,

400 Capitol Mall,Suite 1800 physical, and market conditions relating to the Property. Sacramento, CA 95814 ph: 916-288-4800 The information contained in the Materials has been obtained by Agent from sources believed to be reliable, however, no fx: 916-446-0024 representation or warranty is made regarding the accuracy or completeness of the Materials. Agent makes no representation or warranty regarding the Property, including but not limited to income, expenses, or financial performance (past, present, or www.cushmanwakefield.com future); size, square footage, condition, or quality of the land and improvements; presence or absence of contaminating sub- stances (PCB’s, asbestos, mold, etc.); Compliance with laws and regulations (local, state, and federal); or, financial condition or business prospects of any tenant (tenant’s intentions regarding continued occupancy, payment of rent, etc). Any prospec- tive buyer must independently investigate and verify all of the information set forth in the Materials. Any prospective buyer is solely responsible for any and all costs and expenses incurred in reviewing the Materials and/or investigating and evaluating the Property.

By receiving the Materials you are agreeing to the Confidentiality and Disclaimer set forth herein.

All Property showings are by appointment only and must be coordinated through the Agent. 910 JEFFERSON BLVD Addendum

Sale Procedures

All investors should base their offers and pricing on the “As-Is, Where-Is” condition of the property. Qualified prospective investors will have the opportunity to inspect the property. Each prospective investor is to rely upon its own investigation, evaluation and judgment as to the condition of the property.

Inquiries regarding 910 Jefferson Blvd should be directed to the following:

Shaun Morrow, CCIM Senior Director Retail Investments 916-617-4242 [email protected] LIC #00548078

400 Capitol Mall, Suite 1800 Sacramento, California 95814 ph: 916-288-4800 fx: 916-446-0024

Cushman & Wakefield www.cushmanwakefield.com

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