1155-S-Los-Angeles-OM-PRINT.Pdf

INVESTMENT ADVISORS

BRANDON MICHAELS MATTHEW LUCHS BEN BROWNSTEIN Senior Managing Director of Investments First Vice President Investments Senior Associate Senior Director, National Retail Group National Retail Group National Retail Group Tel: (818) 212-2794 Tel: (818) 519-1429 Cell: (818) 212-2812 Fax: (818) 212-2710 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] [email protected] License: CA #01434685 License: CA #01948233 License: CA # 02012808 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com

Steven Schechter Andrew Leff Austin Sreden Sean Brandt First Vice President First Vice President Investment Associate Investment Associate Investments Investments

Lauren Sackler Nicole Cottrell Zachary Saloff Vaughn Brown Investment Associate Investment Associate Investment Associate Investment Associate

2 TABLE OF CONTENTS

1 2 3 4 PROPERTY OVERVIEW AREA OVERVIEW FINANCIAL ANALYSIS COMPARABLES ANALYSIS

3 PROPERTY PROPERTY OVERVIEW DTLA 2040 COMMUNITY PLAN

DTLA 2040 is the updated community plan for Downtown Los Angeles. It’s goal is to create and implement a future vision for Downtown Los Angeles and will support and sustain the ongoing revitalization while thoughtfully accommodating projected future growth.

DTLA 2040 will help shape the future of Downtown Los Angeles, by reinforcing its jobs orientation; supporting a transit and pedestrian environment; growing and supporting its residential community; strengthening the unique character of each neighborhood; and creating linkages between Downtown's many distinct districts.

NEIGHBORHOOD

DEMOGRAPHICS

Median age: 36.7 •

Average household income within a 1 mile radius: $86,632 •

Population within a 5 mile radius: 1,278,924 •

SIGNIFICANT OPPORTUNITY

Current rent in the area has created an affluent community surrounding Downtown Los Angeles, making this an ideal time to purchase property in the center of Downtown. Upon the completion of the surrounding developments and continuing improvements to the immediate area, the rental market will experience significant growth and offer outstanding long-term returns for investors. LOS ANGELES LOS

6 GETTING AROUND

The Los Angeles Metro is affordable, relatively easy to use, and services most of Los Angeles County and its top attractions. The public transit system consists of Metro Buses, DASH Buses, and Metro Rail Trains.

Short trips of 3 miles or less can often be quicker by bike than by car, especially in traffic. Downtown’s bike system has racked up more than 182,500 trips, representing about 453,000 miles traversed. WHY BUY SHOPPING & DINING In DTLA you'll find shopping surprises around every corner. Discover great deals and selection whether you're hunting for fashion, florists, or IN furniture. DTLA was listed by The New York Times as number 5 of "52 Places to Go in 2014." Chefs from all over the world come here to make their mark. From Grand Central Market, recipient of Bon Appetit’s Best Restaurants of the Year, to DTLA the Michelin-starred Patina and Watergrill, to homestyle tacos and artisan sausage and beer, Downtown LA will inspire every palate.

WEATHER

While other parts of the world may experience brutal winters and hot humid summers, Los Angeles is fortunate to WALKABILITY enjoy bright blue skies, stunning sunsets, and cool breezes year round. This near-perfect weather allows an active and 1155-1159 S Los Angeles Street has a score of relaxing lifestyle throughout the entire year. 91/100 for Walkability, 100/100 for Ride-ability, and 74/100 for Bike-ability. Discover great selections of dining, shopping, and accommodations. 7 SIGNALIZED CORNER SINGLE-STORY MULTI-TENANT RETAIL STOREFRONT IDEALLY LOCATED IN THE DENSELY POPULATED FASHION DISTRICT ON THE NW SIGNALIZED CORNER OF LOS ANGELES STREET AND EAST 12TH STREET IN THE EPICENTER OF DOWNTOWN LOS ANGELES

The Brandon Michaels Group of Marcus and Millichap has been selected to exclusively represent for sale 1157 South Los Angeles Street, a single-story multi-tenant retail property ideally located at the NW signalized corner of Los Angeles Street and East 12th Street. The subject property is comprised of seven retail units with an ideal average square footage of 1,220 square feet per unit. These ideal unit sizes benefit from minimal bay depths and are easily releasable. The property also features a payphone, which adds additional revenue.

One of the seven storefront units is currently vacant, and five of the retail spaces have leases which are set to expire in 2021, creating an excellent opportunity for an investor to stabilize the property or for an owner-user to occupy the site for their own use. 1157 South Los Angeles Street is ideally located in the heart of the fashion district of Downtown Los Angeles, which is home to over 2,000 independently owned wholesale and retail businesses. The subject property is located less than one mile from the Los Angeles Flower Market, the largest flower market in the United States which is set to undergo a $170 million renovation, and isless than half a mile from Santee Alley, home to the largest selection of fabrics throughout Southern California.

The Downtown Fashion District spans 100 blocks in Downtown Los Angeles and is well known for its contemporary showrooms which bring in nearly 1.5 million visitors each year. The property is located less than one mile from LA Live, Los Angeles Convention Center, and the STAPLES Center.1157 South Los Angeles Street will be a direct benefactor of the DTLA 2040 Plan. Located directly in the Transit Core section, the goal and vision for the immediate community will be to emphasize growth and development in the multi-family, entertainment, and office sectors.

8 S LOS ANGELES ST E 12TH ST

1.0 11,626 91 1.0 Square Miles of Walkable Hotspots, 11,626 Businesses within 1 Square Mile of Walker’s Paradise Restaurants, Nightlife, Venues, and The Subject Property A Walk Score of 90 out of 100 Shopping in Downtown Los Angeles 9 INTERCONTINENTAL DOWNTOWN LA USC TOWER AT SOUTH SOUTH CITY WEST PARK CENTER PARK

CALIFORNIA MARKET CENTER

BROADWAY PALACE APARTMENTS

BANK OF AMERICA FINANCIAL CENTER

AXIS APARTMENT

S MAIN ST

S LOS ANGELES ST

E 12TH ST

10 Staples Center

THE LOS ANGELES FASHION DISTRICT IS HOME TO A NUMBER OF HIGH-PROFILE DEVELOPMENT PROJECTS AND IS LOCATED WITHIN THE BOUNDARIES OF THE DTLA 2040 PLAN WHICH WILL INCREASE JOBS, HOUSING, TRANSPORTATION, OPEN SPACE, AND AMENITIES, ADDING 125,000 NEW RESIDENTS, 70,000 NEW HOUSING UNITS, AND 55,000 NEW JOBS

1157 South Los Angeles Street is located within the Downtown Los Angeles Fashion District. The district features more than 2,000 independently owned wholesale and retail businesses. The property is located less than one mile from Santee Alley, which features the largest selection of fabrics in Southern California, and is located approximately one mile from the Los Angeles Flower District, the largest flower market in the United States. The Los Angeles Fashion District is bordered by Main street to the West, Washington Boulevard to the South, the Los Angeles River to the East, and 7th Street to the North, as defined by the Downtown Los Angeles Neighborhood Council.

The property is located less than one half mile from “The Intersection,” a selection of contemporary showrooms located at the intersection of Los Angeles and 9th Street. The showrooms host a number of industry events, such as “Market Week” as well as various sample sales, which bring in an estimated 1.5 million visitors each year. The contemporary showroom buildings include the California Market Center, Cooper Design Space, The Gerry Building, Lady Liberty Building, and New Mart.

The Los Angeles Fashion District is home to a number of substantial new developments. 1157 S Los Angeles Street is located less than one mile from a proposed $170 million redevelopment of the Southern California Flower Market. The southern building would be demolished to make room for a 15-story building with 323 residential units, 64,000 square feet of office space, 64,000 square feet of wholesale space, and approximately 10,000 square feet of event space. Less than one half mile from the subject property, the district’s California Market Center is set to undergo a $170 million renovation, with the goal to attract big-name tenants who have otherwise been flocking to Culver City and Playa Vista. Less than one half mile from the subject property, at 11th and Main Streets, the Los Angeles City Council has approved an eight-story building which would bring 379 apartment units, and 26,000 square feet of retail and office space on the ground floor. Along with the current developments in the area, the entire Downtown Community will benefit from the DTLA 2040 Plan. The future vision for the community will increase jobs, housing, transportation, open space and amenities. The goal by 2040 is to add approximately 125,000 new residents, 70,000 new housing units, and 55,000 new jobs. This growth plan will help reinforce Downtown as the primary jobs center of Southern California and allow retail, office, and industrial to continue to grow and thrive.

The property benefits from excellent demographics within the immediate sub-market, with over 51,800 people located within one mile of the property, 559,000 within three miles of the property, and 1,278,900 within five miles of the property. There are over 24,800 households within one mile of the property, 178,800 within three miles of the property, and 395,800 within five miles of the property. Average household income is over 86,600 within one mile of the property, 57,200 within three miles of the property, and 62,900 within five miles of the property. 11 PROPERT Y OVERVIEW

1155-1159 S Los Angeles St ST JAMES PARK Property Address Los Angeles CA 90015

Price $2,700,000

Building SF 8,470 LOS ANGELES TRADE TECHNICAL COLLEGE Land SF 8,456

ABRAM FRIEDMAN Price/SF (Bldg) $318.77 OCCUPATIONAL CENTER

Price/SF (Land) $319.30 S BROADWAY

Current CAP Rate 3.56%

Pro Forma CAP Rate 4.53%

Year Built 1995

PICO BLVD Walk Score Walker’s Paradise (91)

145' on E 12th St Frontage 65' on S Los Angeles St

APN Number 5139-016-019

Zoning LAM2

Type of Ownership Fee Simple

12 L.A. LIVE STAPLES CENTER

PICO UNION ST JAMES PARK

USC TOWER AT SOUTH PARK CENTER

DIGNITY HELATH CALIFORNIA HOSPITAL S HILL ST MEDICAL CENTER OLIVE DTLA S BROADWAY WREN APARTMENT

BANK OF HOPE BANK OF AMERICA S MAIN ST FINANCIAL CENTER AXIS APARTMENT

S MAIN ST E 12TH ST

S LOS ANGELES ST

13 INVESTMENT HIGHLIGHTS

PRIME FASHION DISTRICT SIGNALIZED CORNER LOCATION

• NW signalized corner of Los Angeles Street and 12th Street • Small unit sizes averaging 1,220 square feet • Units benefit from minimal bay depths and are easily re-leaseable S LOS ANGELES ST • One current vacancy, and several leases expiring in 2021 would allow and owner-user to occupy one or multiple retail units • Expiring leases create an excellent opportunity for an investor to E 12TH ST stabilize the property STRONG UNDERLYING DEMOGRAPHICS AND DENSE IMMEDIATE POPULATION

• Over 51,800 people are located within one mile of the property, 559,000 within three miles of the property, and 1,278,900 within five miles of the property • Over 24,800 households within one mile of the property, 178,800 within three miles of the property, and 395,800 within five miles of the property • Average household income is over 86,600 within one mile of the property, 57,200 within three miles of the property, and 62,900 within five miles of the property

E 12TH ST

14 INVESTMENT HIGHLIGHTS

SUB-MARKET SATURATED WITH POPULAR DESTINATIONS AND LONG-TERM DEVELOPMENT

• Less than one half mile from “The Intersection” • Located Proximate to a number of new developments, including the proposed $170 million re-development of the Southern California S LOS ANGELES ST Flower Market, and proposed $170 million dollar renovation of the California Market Center • DTLA 2040 Plan will rejuvenate the community as the strongest market of Southern California once again • Located in the “Transit Core” of the Community Plan will allow for long-term upside due to a significant emphasis on community growth FANTASTIC LOS ANGELES FASHION DISTRICT LOCATION

• Ideally located within the Los Angeles Fashion District which features over 2,000 independently owned retailers and wholesalers • Close proximity to the STAPLES Center, LA Live, and the Los Angeles Convention Center • Located less than half of a mile from “Santee Alley” • Located proximate to a number of new developments and substantial renovation projects

E 12TH ST

S LOS ANGELES ST

15 15

SOUTH PARK CITY WEST 6 8 14 16 5 13 7 11 12

4 3 2 1

10 STAPLES CENTER L.A. LIVE S MAIN ST

FASHION DISTRICT S LOS ANGELES ST

DOWNTOWN LOS ANGELES E PICO BLVD 16 18 19 LOCATION HIGHLIGHTS 17 21 16 20 1 1 WREN Apartments Staples Center & L.A. Live

22 OLiVE DTLA Apartments 22 33 GL Apartments

44 E On Grand Apartments

23 55 Circa LA Apartments 66 1101-1199 S Flower St - Ocean Wide Plaza

7 7 1212 S Flower St - Hope + Flower

88 USC Stevens Center for Innovation Los Angeles Convention Center 99 1149 S. Hill Street - South Park Center

1010 Axis Apartments

1111 717 Olympic

1212 APEX Apartments S LOS ANGELES ST 1313 TCW Tower

1414 777 Tower

E 12TH ST 1515 InterContinental Los Angeles 1616 City National Bank FASHION Walt Disney Concert Hall 17 DISTRICT 17 Aon 1818 U.S. Bank Tower

1919 Bank of America Plaza

2020 Deloitte

2121 Two California Plaza

2222 Millennium Biltmore Hotel Los Angeles

E PICO BLVD 2323 California Market Center

SANTEE ST 17 AREA AREA OVERVIEW DOWNTOWN LA: 2040

1155-1159 S Los Angeles Street falls within the Maximum FAR: 13:1 By the year 2040, Downtown LA will add: TRANSIT CORE of DTLA 2040 plan designations GENERAL USES: 125K RESIDENTS Transit Core areas are dense centers of activity built around +125,000 • Regional mixed use regional transit hubs that provide easy access for pedestrians, transit users, and cyclists to a variety of experiences and • Multi-family residential activities. These places provide a high-energy urban experience, with towers activated by ground-floor retail that engages +70,000 HOUSING and invites pedestrians. Buildings have high-quality design • Entertainment and provide visual interest. Enhanced streetscapes, paseos, and alleys create a seamless network of walkable paths that • Office Emphasis balance the high-intensity built environment. A diverse mix of +55,000 JOBS office, residential, retail, cultural, and entertainment uses makes these places centers of activity around the clock.

A STRONG CORE IS IMPORTANT TO THE HEALTH OF THE CITY

• Reinforce Downtown's jobs orientation • Strengthen neighborhood character • Create linkages between districts

• Grow and support the residential base • Promote a transit, bicycle, and pedestrian • Create a World-Class Streets and Public friendly environment Reaxlm 20 21 DOWNTOWN LA DTLA is in the midst of a cultural and architectural resurgence that’s turning the area into a walkable, Metro-friendly destination dotted with museums and beautiful destinatioms. Get to know Bunker Hill, the Historic Core and beyond with these things to do in Downtown Los Angeles.

LOCATION DTLA is flanked by Echo Park to the north and northwest, Chinatown to the northeast, Boyle Heights to the east, Vernon to the south, Historic South Central and University Park to the southwest and Pico-Union and Westlake to the west.

ECONOMY DTLA is a node in the tech economy that extends beyond Silicon Beach. A venture capital firm counted 78 tech-oriented firms in DTLA in 2015. This included mobile apps, hardware, digital media and clean-tech companies plus co-working spaces, start-up incubators and other related businesses. The Arts District has become a popular spot for companies seeking out something different than typical modern offices. The central location is accessible from various parts of the Los Angeles Basin.

DINING DTLA was listed by The New York Times as number 5 of "52 Places to Go in 2014." Chefs from all over the world come here to make their mark. From Grand Central Market, recipient of Bon Appetit’s Best Restaurants of the Year, to the Michelin-starred Patina and Watergrill, to homestyle tacos and artisan sausage and beer, Downtown LA will inspire every palate.

SHOPPING In DTLA you'll find shopping surprises around every corner. Discover great deals and selection whether you're hunting for fashion, florists, or furniture.

ACCOMMODATIONS In the past few years, Downtown has transformed from a place where business people were forced to stay to a destination where tourists want to stay. Downtown Los Angeles hotels span both historic high-rises and sleek contemporary towers, with enough rooms to cater to convention attendees and tourists alike.

22 POINTS OF INTEREST LA LIVE L.A. LIVE is the leading entertainment district in Los Angeles offering six live entertainment venues, a fourteen screen cinema, the GRAMMY Museum®, and over twenty dining experiences. It's the host of the GRAMMYs, EMMYs, American Music Awards, ESPYs, and a years worth of red carpet premieres.

SANTEE ALLEY Santee Alley is one of the most popular retail shopping areas in the LA Fashion District, best known for its festival-like atmosphere and amazing bargains. Santee Alley’s 150+ stores and vendors sell everything – apparel for the entire family, accessories, toys, perfume, gift items and much more!

WALT DISNEY CONCERT HALL As the $274-million crown jewel of the LA Music Center, Disney Hall opened in 2003 to rave reviews. The novelty hasn't yet worn off: both inside and out, this is a terrific venue. Designed by Frank Gehry, the hall features a 2,265-capacity auditorium with an open platform stage.

GRAND CENTRAL MARKET Buried in the heart of Downtown L.A. is this European-style food hall, which has been operating on the ground floor of the iconic Homer Laughlin Building since 1917. On warm summer nights, pick up BBQ at Horse Thief BBQ and sit out on the patio, then follow it up with a beer at Golden Road Brewery or a glass of sherry at Bar Moruno.

CITY HALL The grand, white concrete tower has stood tall as a city icon since 1928, and today it's the easiest way to take in an elevated view of Downtown and beyond. If you’re ever passing through the Civic Center during public hours—weekdays 9am-5pm, enter on Main Street— then you owe yourself a visit to the 27th floor observation deck. While you're there, walk around the surrounding park and look for the 1984 Olympic torch near the Spring Street exit.

23 DEMOGRAPHICS 57,000 Total Population of Downtown Los Angeles. The median age is 38. 58% 42% EDUCATION MALE FEMALE

52% 21.2% 18.2% 8.6% High School Associates Degree Bachelor’s Degree Grad Degree

BUSINESSES

Until recently, Silicon Beach was where a tech startup needed to be to have access to the resources necessary for success. That's all started to change, and DTLA has become one of the premier spots in LA attracting new tech companies. Companies to Know: Boingo Wireless, Critical Cycles, Greycroft Partners, Hyperloop One, Joymode, Levee, Loot Crate, NationBuilder, Nestigator, PetNet, and Rhubarb Studios.

TOP EMPLOYERS • Southern California Gas Company • Gibson, Dunn & Crutcher LLP • Quinn Emanuel Trial Lawyers • AT&T • Telepacific Communications Corp • Los Angeles Community College District • The Capital Group Companies, Inc. • Paul, Hastings, Janofsky & Walker, LLP • City of Los Angeles

24 $86,632 1,278,924 $53,116 Average HH income within -m radius Daytime Population within 5-m radius Median HH income within 3-m radius

84,391 311,462 54,533 Owner Occupied Households Renter Occupied Households Businesses within a 5-m radius within 5-m radius within 5-m radius

25 FINANCIAL FINANCIAL ANALYSIS FINANCIAL ANALYSIS

RENT ROLL PRO FORMA PRO FORMA UNIT TENANT SF SF % LEASE START LEASE EXP RENT RENT/SF RENT RENT/SF 1155 Goldsun America Ltd 850 10% 4/1/18 3/31/21 $1,962.66 $2.31 $1,962.66 $2.31 Victor Tellez Alcala 1155.5 850 10% 9/13/16 9/30/22 $1,800.00 $2.12 $1,800.00 $2.12 Adriana's Shoes 1157AB We Kim 1,700 20% 3/1/15 2/28/21 $3,311.94 $1.95 $3,311.94 $1.95 1159 Vacant 850 10% $0.00 $2,100.00 $2.47 125-127 Gurinderjeet Singh 1,430 17% 12/3/15 2/28/21 $2,838.19 $1.98 $2,838.19 $1.98 129-133 Gurinderjeet Singh 2,145 25% 6/1/17 2/28/21 $3,217.57 $1.50 $3,217.57 $1.50 135 Suresh Tandon Malti Fashion 715 8% 9/15/11 1/31/21 $500.00 $0.70 $1,400.00 $1.96 TOTAL 8,540 100% $13,630.36 $1.60 $17,230.36 $2.02

Occupied SF 7,690 (90%) Vacant SF 850 (10%) ANNUALIZED OPERATING DATA INCOME AND EXPENSE CURRENT PRO FORMA EXPENSE BREAKDOWN PER YEAR PER SF

Scheduled Lease Income $163,564 $206,764 Taxes @ 1.25% $32,500 $3.84 Effective Gross Income: $163,564 $206,764 Handyman $100 $0.01 Vacancy @5% $8,178 $10,338 Roof Repair $300 $0.04 Expenses $66,317 $66,317 Pest Control $780 $0.09 NET OPERATING INCOME $89,069 $130,109 Professional Fees $375 $0.04 Management $9,077 $1.07 Water & Sewer $5,179 $0.61 Trash Disposal $2,953 $0.35 Insurance $15,053 $1.78 TOTAL $66,317 $7.83 / $0.65 28 PRICING

1155-1159 S Los Angeles Street Address: Los Angeles, CA 90015

Price: $2,700,000

Building SF: 8,470

Price/SF (Building): $318.77

Land SF: 8,456

Price/SF (Land): $319.30

Current CAP Rate: 3.43%

Pro Forma CAP Rate: 5.00%

29 COMPARABLES COMPARABLES ANALYSIS SALES COMPARABLES

PRICE/SF PRICE/SF ADDRESS SALE PRICE BUILDING SF (BUILDING) LAND SF (LAND) ZONING SALES DATE

729-737 S Los Angeles St $4,487,000 10,350 $433.53 12,262 $365.93 LAM2 01/27/2020 1 Los Angeles, CA 90014

1045-1051 S Los Angeles 2 St $6,400,000 27,300 $234.43 10,019 $638.79 M2 04/23/2020 Los Angeles, CA 90015

1150-1156 S Main St $2,900,000 8,459 $342.83 8,459 $342.83 M2 09/29/2020 3 Los Angeles, CA 90015

1421 S Santee St $1,900,000 6,615 $287.23 7,841 $242.32 M2 02/14/2020 4 Los Angeles, CA 90015

AVERAGE $3,921,750 13,181 $324.50 9,645 $397.46 - -

32 SALES COMPARABLES | PRICE/SF

1 1

2 3

33 LEASE COMPARABLES - EXECUTED LEASES

ADDRESS RENTABLE SF RENT/SF/MON RENT/SF/YR LEASE TYPE LEASE START

1115 Wall St 1,600 $2.18 $26.16 MG Jan 2021 1 Los Angeles, CA 90015

1317-1321 Santee St 6,400 $1.76 $21.12 MG Dec 2020 2 Los Angeles, CA 90015

1124-1126 S Los Angeles St 2,325 $1.71 $20.52 - Dec 2020 3 Los Angeles, CA 90015

1100 S Los Angeles St Electricity 875 $1.72 $20.64 Sep 2020 4 Los Angeles, CA 90015 Only

1018-1020 S Los Angeles St 1,800 $1.50 $18.00 FS Sep 2020 5 Los Angeles, CA 90015

1301 S Main St 220 $3.29 $39.48 MG Sep 2020 6 Los Angeles, CA 90015

AVERAGE 2,203 $2.03 $24.32 - -

34 EXECUTED LEASE COMPARABLES | RENT/SF/MON

5 4 3 6 1

35 LEASE COMPARABLES - AVAILABLE FOR LEASE

ADDRESS AVAILABLE SF BUILDING SF RENT/SF/MON RENT/SF/YR LEASE TYPE

1301 S Main St 843 30,740 $2.71 $32.52 MG 1 Los Angeles, CA 90015

1045-1051 S Los Angeles St 2,000 27,300 $2.00 $24.00 MG 2 Los Angeles, CA 90015

1115 Wall St 1,600 6,500 $2.18 $26.16 FS 3 Los Angeles, CA 90015

1043-1047 Santee St 1,745 36,975 $2.25 $27.00 MG 4 Los Angeles, CA 90015

1030 Maple Ave 2,000 32,149 $2.00 $24.00 FS 5 Los Angeles, CA 90015

214-228 E 11th St 1,104 88,725 $3.15 $37.80 MG 6 Los Angeles, CA 90015

110 W 11th St 6,341 62,800 $4.00 $48.00 MG 7 Los Angeles, CA 90015

953 Santee St 2,000 9,251 $1.75 $21.00 MG 8 Los Angeles, CA 90015

1048-1050 S Los Angeles St 902 15,229 $3.50 $42.00 NNN 9 Los Angeles, CA 90015

1035 Santee St 1,200 8,550 $2.50 $30.00 MG 10 Los Angeles, CA 90015

AVERAGE 1,926 31,724 $2.59 $31.13 - 36 FOR LEASE COMPARABLES | RENT/SF/MON

7 8 2 9 10 4 6 5

1 3

37 BRANDON MICHAELS MATTHEW LUCHS BEN BROWNSTEIN Senior Managing Director of Investments First Vice President Investments Senior Associate Senior Director, National Retail Group National Retail Group National Retail Group Tel: (818) 212-2794 Tel: (818) 519-1429 Cell: (818) 212-2812 Fax: (818) 212-2710 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] [email protected] License: CA #01434685 License: CA #01948233 License: CA # 02012808 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com