A Unique Value-Add Covered Land Opportunity to Acquire a Portfolio of Three Separate Parcels Consisting of a 114-Room Motel

SOUTHERN CALIFORNIA'S PREMIER SALES TEAM

15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 A UNIQUE VALUE-ADD COVERED LAND OPPORTUNITY TO ACQUIRE A PORTFOLIO OF THREE SEPARATE PARCELS CONSISTING OF A 114-ROOM MOTEL AND TWO COMMERCIAL SITES IDEALLY SITUATED ON 131,412 SF OF LAND (3.02 ACRES) ADJACENT TO 405 FREEWAY IN NORTH HILLS, CA INVESTMENT ADVISORS: BRANDON MICHAELS STEVEN SCHECHTER Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group Director, National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2793 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #01089464 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com SEAN BRANDT TEAM MEMBERS Investment Associate Ben Brownstein National Retail Group Nicole Cottrell Tel: (818) 212-2653 Dana Liu Fax: (818) 212-2710 Steven Schechter [email protected] Austin Sreden License: CA #01755166 www.BrandonMichaelsGroup.com

CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. BRANDON

MICHAELS 16830 Ventura Blvd. Suite 100, Encino, CA 91436 GROUP www.marcusmillichap.com SOUTHERN CALIFORNIA'S PREMIER SALES TEAM TABLE OF CONTENTS

NORTH HILLS PORTFOLIO 01 MOTEL 6 - 15711 ROSCOE BOULEVARD 02 15701 ROSCOE BOULEVARD 03 15725 ROSCOE BOULEVARD 04 COMPARABLES ANALYSIS 05 AREA OVERVIEW 06 SHERMAN OAKS VAN NUYS

SEPULVEDA BOULEVARD

Burger King

SAN DIEGO FWY OVER 430,000 VEHICLES PER DAY

4 ENCINO LAKE BALBOA

15725 ROSCOE 15701 ROSCOE BOULEVARD BOULEVARD

15711 ROSCOE BOULEVARD ROSCOE BOULEVARD OVER 10,000HASKELL VEHICLES AVENUE PER DAY OVER 55,000 VEHICLES PER DAY

NORTH HILLS • CA 5

15711 ROSCOE BOULEVARD NORTH HILLS PORTFOLIO

15725 ROSCOE BOULEVARD

15701 ROSCOE BOULEVARD Motel 6 - 15711 Roscoe Boulevard 15701 Roscoe Boulevard 15725 Roscoe Boulevard

Building SF: 29,202 SF Land SF: 73,152 SF (1.82 Acres) Rooms: 114 Building SF: 5,564 SF Land SF: 36,817 SF (0.85 Acres) Building SF: 2,270 SF Land SF: 15,443 SF (0.35 Acres) The properties can be purchased as a portfolio, individually or a combination of the two

EXECUTIVE SUMMARY EXECUTIVE The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale the North Hills Portfolio, a three-parcel portfolio consisting of a 114 room motel located at 15711 Roscoe Boulevard, a commercial site consisting of a vacant 5,564 square foot building situated on 36,817 square feet of land located at 15701 Roscoe Boulevard, and a commercial site consisting of a 2,270

15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 square foot auto-use building situated on 15,443 square feet of land located at 15725 Roscoe Boulevard in North Hills, CA. A UNIQUE VALUE-ADD COVERED LAND OPPORTUNITY TO ACQUIRE A PORTFOLIO OF The total portfolio offering consists of 37,036 square feet of buildings situated on 131,312 square feet of land THREE SEPARATE PARCELS CONSISTING OF located in a Tier 1 TOC. The commercial sites offer a [Q]C2-1VL zoning and the rear motel parcel offers a mixed- A 114-ROOM MOTEL AND TWO COMMERCIAL zoning of [Q]C2-1VL and R3-1. SITES IDEALLY SITUATED ON 131,412 SF OF LAND (3.02 ACRES) ADJACENT TO 405 FREEWAY The flexibility in the site offers a multitude of potential options in a dense LA County sub-market that has IN NORTH HILLS, CA experienced year over year growth since 2010.

TOTAL BUILDING SF TOTAL LAND SF ZONING TOC

37,036 SF 131,412 SF (3.02 ACRES) R3-1/[Q]C2-1VL TIER 1

8 LAKE BALBOA VAN NUYS NORTH HILLS PORTFOLIO 15711 ROSCOE BLVD 15711 ROSCOE

ROSCOE BOULEVARD OVER 55,000 VEHICLES PER DAY BLVD 15701 ROSCOE 15725 ROSCOE BOULEVARD

OVERSAN 430,000 DIEGOVEHICLES PER FWY DAY

15701 ROSCOE BOULEVARD HASKELL AVENUE OVER 10,000 VEHICLES PER DAY 15725 ROSCOE BLVD 15725 ROSCOE 15711 ROSCOE BOULEVARD

Burger King COMPARABLES ANALYSIS COMPARABLES

9 AREA OVERVIEW Van Nuys Airport San Diego 405 Freeway Through SFV Lake Balboa Park

This North Hills Portfolio is ideally located along Roscoe Boulevard at the signalized intersection of Roscoe Boulevard and Haskel Avenue. Roscoe Boulevard is a main east/west commercial thoroughfare that spans the entire San Fernando Valley. The subject properties benefit from over 231 feet of frontage along Roscoe Boulevard, excellent LOCATION OVERVIEW LOCATION ingress and egress at the signalized intersection, and outstanding freeway visibility from the Interstate 405 San Diego

15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 Freeway. Daily traffic counts exceed 45,000 vehicles per day along Roscoe Boulevard and over 430,000 vehicles per day along the 405 freeway. The site’s centralized East San Fernando Valley location is well positioned within one of LA County’s densest sub-markets within close proximity to downtown Los Angeles, the Westside, Warner Center, and EXCELLENT EAST SAN FERNANDO VALLEY LOCATION IDEALLY POSITIONED ALONG all major airports. ROSCOE BOULEVARD IN THE DENSELY North Hills is a community in the East San Fernando Valley within the City of Los Angeles, California. With Northridge POPULATED HIGH-GROWTH SUB-MARKET to the west, Panorama City to the east, Van Nuys to the south, and Granada Hills to the north, this densely populated OF NORTH HILLS, CA sub-market has over 38,000 people and 9,900 households within one mile of the subject properties, over 320,000 people and 92,000 households within three miles, and over 772,000 people and 237,000 households within five miles. The immediate area has undergone significant growth, with an over 6.6% growth in population over the last nine years and additional growth projected over the upcoming five years. The average household income is over $57,000 within one mile, over $70,000 within three miles of the subject properties, and over $79,000 within five miles of the subject properties. The median household income is over $39,000 within one mile and increased to over $50,000 and $58,000 within three and five miles respectively.

VAN NUYS AIRPORT LAKE BALBOA PARK SEPULVEDA BASIN CALIFORNIA STATE RECREATION AREA UNIVERSITY, NORTHRIDGE

1.6 MILES FROM SUBJECT PROPERTY 2.9 MILES FROM SUBJECT PROPERTY 3.2 MILES FROM SUBJECT PROPERTY 4.0 MILES FROM SUBJECT PROPERTY 10 NORTH HILLS EAST PANORAMA CITY RAYMER NORTH HILLS PORTFOLIO

SEPULVEDA BLVD BLVD 15711 ROSCOE 15701 ROSCOE BLVD 15701 ROSCOE

15711 ROSCOE BOULEVARD Burger King 15725 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD

OVERHASKELL 10,000 VEHICLES AVENUE PER DAY SAN DIEGO FWY BLVD 15725 ROSCOE OVER 430,000 VEHICLES PER DAY COMPARABLES ANALYSIS COMPARABLES

ROSCOE BOULEVARD OVER 55,000 VEHICLES PER DAY

11 AREA OVERVIEW 11 SIGNIFICANT VALUE-ADD COVERED LAND 1 OPPORTUNITY

Unique value-add covered land opportunity to acquire 3.02 acres of land

OVER 55,000 VEHICLES PER DAY ROSCOE BOULEVARD HASKELL AVENUE • with underperforming structures in a dense East San Fernando Valley OVER 10,000 VEHICLES PER DAY location Portfolio presents a multitude of potential options and creates a value- • add proposition for investors looking to re-position well-located East San

15725 ROSCOE Fernando Valley properties with large footprints of land BOULEVARD 15711 ROSCOE BOULEVARD Properties can be purchased as a portfolio, individually, or a combination • of the two

15701 ROSCOE BOULEVARD

INVESTMENT HIGHLIGHTS 131,412 SQUARE FEET OF LAND (3.02 ACRES) IN 2 A TIER 1 TOC

• Tier 1 TOC presents density bonus options Strong East San Fernando Valley location creates a unique opportunity to • re-develop over three acres of land within an emerging sub-market Strong demand for housing in the immediate area due to robust • population growth • Close proximity to transit There may be the potential to acquire an additional 17,943 square feet • of land which was dedicated to the city of Las Angeles for the extension of Haskell Avenue

SAN DIEGO FWY OVER 430,000 VEHICLES PER DAY 12 • • • • • • • • • • • 4 3 prosper to the 405 Freeway off willallow directly businesses Excellent location value anowner-user to Rare creates auto-use operator along Roscoe Boulevard offrontage 231 feet use own business occupy their for anowner-user for ideally positioned are immediate to sites Commercial tenants andregional ofnational cross-section alarge attract ideal to are Sites opportunity re-positioning asignificant creates along Roscoe Boulevard at asignalizedExcellent location intersection ofland footprint Large over take to operations anoperator for Potential Annual revenue $2,700,000 exceeds and vending machine facilities, including swimming pool, amenities laundry with 114 rooms lease term onashort- history excellentoperating Motel 6with performing Strong OF OPTIONS OFFERAMULTITUDE SITES COMMERCIAL HISTORY OPERATING EXCELLENT 6WITH PERFORMING MOTEL STRONG • • • • • • • • • 6 5 Excellent freeway visibility from the Interstate 405Freeway Interstate the from Excellent freeway visibility projections over next five the years projections growth strong 2010 –2019with between growth 6.66% population respectively andfive miles over to three increased $50,000 and$58,000within isoverMedian household onemileand income $39,000within five miles within andover $79,000 properties, subject ofthe miles three $70,000 within Average isover household one mile, income $57,000within over miles andover five miles, 237,000households within three households within 92,000 properties, subject onemileofthe 9,900 households within miles andover five miles, 772,000peoplewithin three 320,000 peoplewithin over properties, subject onemileofthe Over 38,000peoplewithin properties 430,000 vehicles subject perday the passing 405Freeway over with Interstate alongExcellent freeway the visibility vehicles perday along Boulevard exceeding Roscoe 45,000 counts dailyHigh traffic at Roscoe Boulevard andHaskell location AvenueSignalized corner DENSE IMMEDIATESUB-MARKET LOCATION VALLEY FERNANDO SAN EAST EXCELLENT 13

NORTH HILLS PORTFOLIO AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

15701, 15711 & 15725 Roscoe Boulevard ADDRESS North Hills, CA 91343

TOTAL PRICE Request For Offers

TOTAL BUILDING SF 37,036 SF

TOTAL LOT SIZE 131,412 SF (3.02 Acres)

15711 Roscoe Boulevard: 2673-014-066 APN NUMBER 15701 Roscoe Boulevard: 2673-014-065 15711 Motel 6 - 15711 Roscoe Boulevard, North Hills, CA 91343 15725 Roscoe Boulevard: 2673-014-068 PORTFOLIO INFORMATION PORTFOLIO 15711 Roscoe Boulevard: R3-1/[Q]C2-1VL* ZONING 15701 Roscoe Boulevard: [Q]C2-1VL* PRICE Request For Offers 15725 Roscoe Boulevard: [Q]C2-1VL* BUILDING SF 29,202 SF TOC Tier 1 LAND SF (ACRES) 79,152 SF (1.82 Acres) * [Q] Conditions: 1. Residential development shall be limited to the density permitted in NUMBER OF ROOMS 114 the RE 11 Zone. PARKING SPACES 99 Parking Spaces 2. No hotel or motel use shall be permitted. PARKING RATIO 3.39 per 1,000 SF

YEAR BUILT 1979 37,036 131,412 TIER 1 APN NUMBER 2673-014-066 TOTAL BLDG SF TOTAL LAND SF TRANSIT ORIENTED COMMUNITY ZONING R3-1/[Q]C2-1VL

TOC Tier 1 The properties can be purchased as a portfolio, individually or a combination of the two 14 15701 TOC ZONING NUMBER APN BUILT YEAR RATIO PARKING SPACES PARKING SF(ACRES) LAND BUILDING SF PRICE 15701 Roscoe Boulevard, North Hills, CA 91343 CA Hills, North 15701 Roscoe Boulevard, 36,817 SF(0.85Acres) 10.78 per1,000SF 60 Parking Spaces 60 Parking Request ForOffers Request 2673-014-065 [Q]C2-1VL 5,564 SF 1978 Tier 1 Tier 15725 BUILDING SF PRICE TOC ZONING NUMBER APN BUILT YEAR RATIO PARKING SPACES PARKING SF(ACRES) LAND 15725 Roscoe Boulevard, North Hills, CA 91343 CA Hills, North 15725 Roscoe Boulevard, 15,443 SF(0.35Acres) 35.24 per1,000SF 80 Parking Spaces 80 Parking Request ForOffers Request 2673-014-068 [Q]C2-1VL 2,270 SF 1989 Tier 1 Tier 15

NORTH HILLS PORTFOLIO AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

15711 Motel 6 - 15711 Roscoe Boulevard 15701 15701 Roscoe Boulevard 15725 15725 Roscoe Boulevard North Hills, CA 91343 North Hills, CA 91343 North Hills, CA 91343

Zoning R3-1 & [Q]C2-1VL* [Q]C2-1VL* [Q]C2-1VL* Total Land SF 79,152 36,817 15,443 Total Land SF (R3-1) 66,097 - - Total Land SF [Q]C2-1VL 13,055 36,817 15,443 TOC Tier 1 Tier 1 Tier 1 ZONING INFORMATION By-Right Units R3 83 - - By-Right Units C2 33 92 39 Total By-Right Units 116 - - Density Bonus 50% 58 50% 46 50% 19 Percentage of Very Low 11% 19 11% 15 11% 6 Total Units 174 138 58 Market Rate Units 155 123 52 Very Low Income Units 19 15 6 By-Right FAR R3-1 3.00 198,291 - - Density Bonus FAR R3-1 40% Increase 277,607 - - By-Right FAR C2-1VL 1.50 19,583 1.50 55,226 1.50 23,165 Density Bonus C2-1VL 2.75 35,901 2.75 101,247 2.75 42,468 Total Buildable SF By-Right 217,874 55,226 23,165 Total Buildable SF Density Bonus 313,509 101,247 42,468 By-Right Height Limit 45' 45' 45' Height Limit w/TOC 56' 56' 56' * This analysis contemplates the removal of the Q condition through obtaining a variance. 16 SAN DIEGO FWY OVER 430,000 VEHICLES PER DAY NORTH HILLS PORTFOLIO

15711 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD 15711 ROSCOE BLVD 15711 ROSCOE ROSCOE BOULEVARD

OVER 55,000 VEHICLES PER DAY 15701 ROSCOE BLVD 15701 ROSCOE 15725 ROSCOE BLVD 15725 ROSCOE EASEMENT 15725 ROSCOE BOULEVARD POTENTIAL TO VACATE EASEMENT – There is an easement, as pictured in the adjacent photo highlighted in red, that was originally intended to serve as an extension to Haskell Avenue. This easement COMPARABLES ANALYSIS COMPARABLES currently serves as the entrance to Motel 6. In the event all three properties are purchased as a portfolio, there may be the potential to vacate the easement and acquire more land square footage. The total land square footage of the easement is approximately 17,943 square feet. Please contact the listing agents for more information. HASKELL AVENUE OVER 10,000 VEHICLES PER DAY 17 AREA OVERVIEW 15701 ROSCOE BOULEVARD

15725 ROSCOE BOULEVARD 15711 ROSCOE BOULEVARD 2 15711 ROSCOE BOULEVARD 15711 Roscoe Boulevard consists of a 114 Room Motel 6 situated on approximately 79,152 square feet of land with excellent access and freeway visibility from the Interstate 405 Freeway. Motel 6 is currently leasing the

EXECUTIVE SUMMARY EXECUTIVE property until January 31, 2024. Their current rent is 5.5% of annual revenues. 2018 revenue was approximately $2,730,504. Motel 6 has no additional options to extend the terms of their lease, allowing an experienced operator a unique opportunity to acquire a seasoned and successful motel location with positive operating history. The site 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 offers amenities including a swimming pool, laundry facilities, and a vending machine.

15711 Roscoe Boulevard is ideally situated on 79,152 square feet of lane with a mixed zoning of R3-1 and [Q] A 114 ROOM MOTEL 6 IDEALLY C2-1VL. The site is located within a Tier 1 Transit Oriented Community (TOC). Of the total 79,152 square feet of SITUATED ON 79,152 SQUARE FEET OF land, approximately 66,097 square feet is zoned R3-1 and 13,055 square feet is zoned [Q] C2-1VL. “By-right”, a LAND (1.82 ACRES) ZONED R3-1/[Q] developer can build 83 units, and through the utilization of the TOC, you can build up to 125 units. The current FAR C2-1VL IN A TIER 1 TOC is 3.00, and through the utilization of the TOC, you can increase the FAR by 40% to a 4.20 FAR. There is a 45-foot height restriction, which can be increased to 56 feet through the utilization of the TOC.

INVESTMENT HIGHLIGHTS 114 ROOM MOTEL 6 SITUATED ON 79,152 SQUARE FEET OF LAND • Current lease in place with Motel 6 through January 31, 2024 with no options to extend • Strong operating revenues exceeding $2,700,000 annually • Amenities include swimming pool, laundry facilities, and vending machine • Long-term successful operating history • Mixed zoning of R3-1/[Q] C2-1VLcreates potential development opportunity Short term lease creates opportunity for an operator to acquire a successful nationally branded operating 20 • motel

OVER 10,000 VEHICLES PER DAY PER VEHICLES 10,000 OVER

HASKELL AVENUE HASKELL

OVER 430,000 VEHICLES PER DAY PER VEHICLES 430,000 OVER SAN DIEGO FWY FWY DIEGO SAN

ROSCOE BOULEVARD

OVER 55,000 VEHICLES PER DAY 21

15711 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD NORTH HILLS PORTFOLIO 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

MOTEL 6 ADDRESS 15711 ROSCOE BOULEVARD SUMMARY OF TERMS NORTH HILLS, CA 91343 PRICE Request For Offers Interest Offered BUILDING SF 29,202 SF 100% fee simple interest in Motel 6 located at 15711 LAND SF (ACRES) 79,152 SF (1.82 Acres) Roscoe Boulevard, a 29,202 SF motel situated on 1.82 acres of land in North Hills, CA, 91343. NUMBER OF ROOMS 114

PROPERTY HIGHLIGHTS PARKING SPACES 99 Parking spaces Terms of the Sale PARKING RATIO 3.39 per 1,000 SF Property is being offered on a free and clear basis.

YEAR BUILT 1979 Property Tours APN NUMBER 2673-014-066 Prospective purchases are encouraged to visit the site R3-1/[Q]C2-1VL and review all due diligence materials prior to submitting ZONING R3-1 Land SF: 66,097 offers. Access to an outline due diligence portal is [Q]C2-1VL: 13,055 available. All property tours must be coordinated through the listing agents. TOC Tier 1

29,202 79,152 114 NNN BUILDING SF LAND SF NO. OF ROOMS LEASE TYPE

22 23

15711 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD NORTH HILLS PORTFOLIO 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

SITE LOCATION The subject property is located just east of the northwest corner of Rosoce Boulevard and San Diego 405 Freeway. ZONING SQUARE FOOTAGES

PROPERTY DETAILS The building square footage is 29,202 SF. The land square footage is 79,152 SF (1.82 acres). R3-1 land SF is 66,097. [Q]C2-1VL land SF is 13,055. R3-1/ TRAFFIC COUNTS [Q]C2-1VL Roscoe Boulevard: Approximately 55,260 vehicles every day. San Diego 405 Freeway: Approximately 433,000 vehicles every day. Haskell Avenue: Approximately 10721 vehicles every day.

PARKING SPACES TOC 99 Surface parking spaces. Ratio of 3.39 per 1,000 SF.

YEAR BUILT The property was built in 1979. TIER 1

APN NUMBER The APN Number is 2673-014-066.

ZONING The zoning is R3-1/[Q]C2-1VL. PARKING

TOC The property is in a Tier 1 TOC. 99

24 25

15711 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD NORTH HILLS PORTFOLIO 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

Lease Start 1/25/1977

Lease Expiration 1/31/2024*

Options None Remaining LEASE ABSTRACT Lease Type NNN

Tenant shall pay a minimum annual rent of $24,264 and Rent the year end overage equal to 5.5% of Gross Revenue

* There may be the potential to terminate the lease with Motel 6 prior to the expiration of the lease term. Please contact the listing agents for additional information.

ANNUAL ROOM REVENUE RENT - 5.5% OF GROSS REVENUE 2018 $2,730,504.77 $150,177.76

2017 $2,570,603.93 $141,383.22

2016 $2,536,000.00 $139,480.00

2015 $2,322,600.00 $127,743.00

2014 $2,074,600.00 $114,103.00

2013 $1,757,981.82 $96,689.00

2012 $1,694,418.18 $93,193.00

2011 $1,724,836.36 $94,866.00

2010 $1,642,581.82 $90,342.00

2009 $1,757,036.36 $96,637.00

2008 $2,149,527.27 $118,224.00

26 27

15711 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD PORTFOLIO INFORMATION MOTEL 6 IS RANKED #73 IN THE FRANCHISE 500

Motel 6 is a U.S. privately owned hospitality company with a chain of budget motels in the United States and Canada. Motel 6 also operates Studio 6, a chain of extended-stay hotels. The hotel brand is owned by TENANT PROFILE The Blackstone Group, which established G6 Hospitality as the management company for Motel 6 and Studio 6.

Motel 6 was founded in Santa Barbara, California, in 1962, by two local building contractors: William Becker and Paul Greene.The partners developed a plan to build motels with rooms at low cost rates. They decided on a $6 room rate per night (equivalent to $50 in 2018), which would cover building costs, land leases, and janitorial supplies; hence the company name “Motel 6”.

Motel 6 is a leader in budget hotels in the United States and is also present in Canada. The chain offers the best price value at all of its locations and provides the following services: cable television with premium channels, free local calls, free coffee in the morning, non smoking rooms, free accommodation for children and Wi-Fi Internet connection – all for the lowest price of any American hotel chain.

SERVING OUR SERVING OUR SERVING OUR SERVING OUR GUESTS TEAM MEMBERS COMMUNITIES FRANCHISE OWNERS

For more than 55 years, Motel 6 has A willingness to collaborate and work Motel 6 is a diverse and inclusive Motel 6 created the economy lodging offered travelers a clean, comfortable together is a hallmark of Motel 6’s culture. company that is also committed to being a segment in 1962 and it continues to room with great service at a fair price. good corporate citizen. lead it today.

28 The best place to find a clean, comfortable to place best finda comfortable The clean, AREA SERVED AREA NO. OFLOCATIONS BRANDS HEADQUARTERS FOUNDERS FOUNDED INDUSTRY TYPE BRAND NAME BRAND WEBSITE SERVICES PARENT OWNER room with great service at a fair price for for at price afair with greatroom service COMPANY PROFILE more than55years. more The Blackstone Group Blackstone The Carrollton, Texas,Carrollton, U.S. Extended-stay hotels Extended-stay www.motel6.com Motel 6; Studio 6 Motel 6;Studio William Becker; Becker; William Budget hotels; Budget hotels; United States; United States; G6 Hospitality 1,430 (2018) Paul Greene Hospitality Canada Motel 6 Private 1962 29

15711 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD NORTH HILLS PORTFOLIO

15725 ROSCOE 15701 ROSCOE BOULEVARD BOULEVARD

15701 ROSCOE BOULEVARD 15711 ROSCOE BOULEVARD 15701 Roscoe Boulevard consists of a vacant 5,564 SF vacant building ideally situated on 36,817 SF of land

EXECUTIVE SUMMARY EXECUTIVE zoned [Q] C2-1VL providing for a multitude of potential options. The subject property benefits from an exceptional location along Roscoe Boulevard, excellent ingress and egress, and superior visibility and frontage.

15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 15701 Roscoe Boulevard offers an investor a unique opportunity to re-position the site and create significant value, a developer a myriad of opportunities and significant redevelopment potential, and an Owner-User buyer a A SIGNIFICANT VALUE-ADD OPPORTUNITY unique opportunity to acquire a well-located site for their own business use. CONSISTING OF A 5,564 SQUARE FOOT BUILDING IDEALLY SITUATED ON 36,817 SQUARE FEET In the event the Q condition can be removed through obtaining a variance, the C2 zoning allows for a multitude OF LAND ZONED [Q] C2-1VL IN A TIER 1 TOC of development options, including 92 units by right and 138 units through the implementation of the TOC. The WITH 136 FEET OF FRONTAGE ALONG ROSCOE current FAR is 1.50, with the TOC bonus allowing an increased FAR of 2.75. There is a current height limit of 45 BOULEVARD feet, which can be increased to 56 feet through the utilization of the TOC.

INVESTMENT HIGHLIGHTS A SIGNIFICANT VALUE-ADD OPPORTUNITY IDEALLY SITUATED ON 36,817 SQUARE FEET OF LAND • 5,564 SF vacant building situated on 36,817 SF of land zoned [Q] C2-1VL • Site is ideal for a wide mix of national retailers from a myriad of diverse sectors • Potential development opportunity • Ideal owner-user opportunity 32

OVER 430,000SAN VEHICLES DIEGO PER DAY FWY

OVER 55,000 VEHICLES PER DAY PER VEHICLES 55,000 OVER ROSCOE BOULEVARD ROSCOE

OVER 10,000HASKELL VEHICLES AVENUE PER DAY 33

15701 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15711 ROSCOE BLVD NORTHPORTFOLIO HILLS INFORMATION PORTFOLIO 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

15701 ROSCOE BOULEVARD ADDRESS SUMMARY OF TERMS NORTH HILLS, CA 91343

PRICE Request For Offers Interest Offered 100% fee simple interest in 15701 Roscoe Boulevard, a BUILDING SF 5,564 SF 5,564 SF retail building situated on 36,817 SF of land in LAND SF (ACRES) 36,817 SF (0.85 Acres) North Hills, CA, 91343.

PARKING SPACES 60 Parking Spaces Terms of the Sale PROPERTY HIGHLIGHTS Property is being offered on a free and clear basis. PARKING RATIO 10.78 per 1,000 SF

YEAR BUILT 1978 Property Tours Prospective purchases are encouraged to visit the site APN NUMBER 2673-014-065 and review all due diligence materials prior to submitting offers. Access to an outline due diligence portal is ZONING [Q]C2-1VL available. All property tours must be coordinated through TOC Tier 1 the listing agents.

5,564 36,817 60 10.78 BUILDING SF LAND SF PARKING SPACES PARKING RATIO

34 35

15701 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

SITE LOCATION The subject property is located at the northeast corner of Rosoce Boulevard and San Diego 405 Freeway. ZONING SQUARE FOOTAGES PROPERTY DETAILS The building square footage is 5,564 SF. The land square footage is 36,817 SF (0.85 acres).

TRAFFIC COUNTS [Q]C2-1VL Roscoe Boulevard: Approximately 55,260 vehicles every day. San Diego 405 Freeway: Approximately 433,000 vehicles every day. Haskell Avenue: Approximately 10721 vehicles every day.

PARKING SPACES 60 Surface parking spaces. Ratio of 10.78 per 1,000 SF. TOC

YEAR BUILT The property was built in 1978. TIER 1

APN NUMBER The APN Number is 2673-014-065.

ZONING The zoning is [Q]C2-1VL. YEAR BUILT

TOC The property is in a Tier 1 TOC. 1978

36 37

15701 ROSCOE BLVD 15711 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTHPORTFOLIO HILLS INFORMATION PORTFOLIO 15701 ROSCOE BOULEVARD 4 15725 ROSCOE BOULEVARD 15725 ROSCOE BOULEVARD

15711 ROSCOE BOULEVARD 15725 Roscoe Boulevard consists of a 2,270 SF building ideally situated on 15,443 SF of land zoned [Q] C2-1VL

EXECUTIVE SUMMARY EXECUTIVE providing for a multitude of potential options. The subject property benefits from an exceptional location along Roscoe Boulevard, excellent ingress and egress, and superior visibility and frontage.

15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 15725 Roscoe Boulevard offers an investor a unique opportunity to re-position the site and create significant value, a developer a myriad of opportunities and significant redevelopment potential, and an Owner-User buyer a A SIGNIFICANT VALUE-ADD OPPORTUNITY unique opportunity to acquire a well-located site for their own business use. CONSISTING OF A 2,270 SQUARE FOOT AUTO- USE PROPERTY IDEALLY SITUATED ON 15,443 In the event the Q condition can be removed through obtaining a variance, the C2 zoning allows for a multitude of SQUARE FEET OF LAND ZONED [Q] C2-1VL IN A development options, including 38 units by right and 58 units through the implementation of the TOC. The current TIER 1 TOC WITH 95 FEET OF FRONTAGE ALONG FAR is 1.50, with the TOC bonus allowing an increased FAR of 2.75. There is a current height limit of 45 feet, which ROSCOE BOULEVARD can be increased to 56 feet through the utilization of the TOC.

INVESTMENT HIGHLIGHTS A RARE AUTO-USE PROPERTY IDEALLY SITUATED ON 15,443 SQUARE FEET OF LAND • 2,270 SF building situated on 15,443 SF of land zoned [Q] C2-1VL • Rare auto use property • Site is ideal for a wide mix of national retailers from a myriad of diverse sectors • Potential development opportunity • Ideal owner-user opportunity 40

OVER 430,000 VEHICLES PER DAY PER VEHICLES 430,000 OVER SAN DIEGO FWY FWY DIEGO SAN

ROSCOE BOULEVARD

OVER 55,000 VEHICLES PER DAY

OVER 10,000 VEHICLES PER DAY PER VEHICLES 10,000 OVER HASKELL AVENUE HASKELL 41

15725 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

15725 ROSCOE BOULEVARD ADDRESS SUMMARY OF TERMS NORTH HILLS, CA 91343

PRICE Request For Offers Interest Offered 100% fee simple interest in 15725 Roscoe Boulevard, a BUILDING SF 2,270 SF 2,270 SF retail building situated on 15,443 SF of land in LAND SF (ACRES) 15,443 SF (0.35Acres) North Hills, CA, 91343.

PARKING SPACES 80 Parking spaces Terms of the Sale

PROPERTY HIGHLIGHTS Property is being offered on a free and clear basis. PARKING RATIO 35.24 per 1,000 SF

YEAR BUILT 1989 Property Tours Prospective purchases are encouraged to visit the site APN NUMBER 2673-014-068 and review all due diligence materials prior to submitting offers. Access to an outline due diligence portal is ZONING [Q]C2-1VL available. All property tours must be coordinated through TOC Tier 1 the listing agents.

*There is currently a tenant in place on a month to month lease paying $7,350 per month.

2,270 15,443 80 35.24 BUILDING SF LAND SF PARKING SPACES PARKING RATIO

42 43

15725 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

SITE LOCATION The subject property is located at the northwest corner of Rosoce Boulevard and Haskell Avenue. ZONING SQUARE FOOTAGES PROPERTY DETAILS The building square footage is 2,270 SF. The land square footage is 15,443 SF (0.35 acres).

PARKING SPACES TOC 80 Surface parking spaces. Ratio of 35.24 per 1,000 SF.

YEAR BUILT The property was built in 1989. TIER 1

APN NUMBER The APN Number is 2673-014-068.

ZONING The zoning is [Q]C2-1VL. YEAR BUILT

TOC The property is in a Tier 1 TOC. 1989

44 45

15725 ROSCOE BLVD AREA OVERVIEW COMPARABLES ANALYSIS 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15711 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD

15725 ROSCOE BOULEVARD 5 MOTEL SALES COMPARABLES 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

North Hills Portfolio

1 Ramada

2 Howard Johnson

1 15701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343 3 Mikado Hotel

4 17448 Ventura Blvd 2

4 3 MOTEL SALES COMPRABLES MOTEL

48 4 3 2 1 # AVERAGE Encino, CA 91316 17448 Ventura Blvd Valley Village, CA 91607 HotelMikado Dr 12600 Riverside Reseda, CA 91335 Howard Johnson 7430 Reseda Blvd Chatsworth, CA 91311 Chatsworth, Ramada 21340 Devonshire St ADDRESS AVG PRICE/SF (BLDG) $385 $10,450,000 $13,800,000 $9,225,000 $4,800,000 $7,850,000 SALE PRICE BLDG SF 26,519 37,374 27,847 31,569 9,286 AVG PRICE/SF (LAND) $210 LAND SF LAND 45,314 25,700 32,234 70,567 52,756 ROOMS NO. OF 58 26 72 58 74 $384.84 PRICE/SF $516.91 $210.04 $375.26 $437.14 (BLDG) $165,075 $209.99 PRICE/SF $186.77 $243.53 $148.09 $261.58 (LAND) AVG PRICE/ROOM PRICE/ROOM $165,075 $184,615 $109,028 $180,172 $186,486 CAP RATE 7.92% 7.49% 6.78% 9.50% - P1-1, Los P1-1, Los and RA-1 Angeles ZONING C4-IVL C4-IVL LAC4 LAP - 10/22/2018 11/29/2018 12/7/2017 7/3/2018 CLOSE OF ESCROW - 49

COMPARABLES ANALYSIS AREA OVERVIEW 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15711 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD

15725 ROSCOE BOULEVARD 5 RETAIL SALES COMPARABLES 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

North Hills Portfolio 1 1 12861 Encinitas Ave

2 9505 Sepulveda Blvd

3 3 11015 Sepulveda Blvd

4 14054-14072 Vanowen St 2 15701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343

RETAIL SALES COMPRABLES RETAIL 4

52 4 3 2 1 # AVERAGE Van Nuys,CA 91405 14054-14072 Vanowen St Hills,CA 91345 Mission McDonald’s 11015 Sepulveda Blvd Hills,CA 91343 North Jr.Carl’s 9505 Sepulveda Blvd Sylmar, CA 91342 Denny’s Restaurant Ave12861 Encinitas ADDRESS AVG PRICE/SF (BLDG) $480 $2,556,250 $2,950,000 $3,100,000 $2,500,000 $1,675,000 SALE PRICE BLDG SF 5,694 9,125 5,256 4,014 4,381 AVG PRICE/SF (LAND) $92 LAND SF LAND 30,782 18,731 33,829 37,026 33,541 $479.56 PRICE/SF $323.29 $589.80 $622.82 $382.33 (BLDG) PRICE/SF $157.49 $91.65 $91.64 $67.52 $49.94 (LAND) Angeles ZONING PF, Los LAC2 LAP C2 - 12/24/2018 12/03/2018 11/20/2018 3/20/2019 CLOSE OF ESCROW - 53

COMPARABLES ANALYSIS AREA OVERVIEW 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15711 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD

15725 ROSCOE BOULEVARD 5 RETAIL RENT COMPARABLES 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

North Hills Portfolio

1 7221 Van Nuys Blvd

2 2 9132-9160 Sepulveda Blvd

3 15421-15449 Parthenia St 3 4 13767-13811 Roscoe Blvd 4

RETAIL RENT COMPRABLES RETAIL 1

15701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343

56 4 3 2 1 # AVERAGE North Hills,CA 91343 North St 15421-15449 Parthenia Hills,CA 91343 North 9132-9160 Sepulveda Blvd Van Nuys, CA 91405 Van Shops Nuys Center 7221 Van NuysBlvd ADDRESS Panorama City,Panorama CA 91402 Roscoewood Center 13767-13811 Roscoe Blvd $3.60 AVG RENT/SF/MONTH LEASABLE SF LEASABLE 22,603 61,900 12,835 8,853 6,825 SF AVAILABLE 12,593 4,920 3,000 2,530 5,761 $43.20 AVG RENT/SF/YEAR RENT/SF/MONTH $3.60 $3.60 $3.30 $4.50 $3.10 $3.50 RENT/SF/YEAR $43.20 $43.20 $39.60 $54.00 $37.20 $42.00 LEASE TYPE LEASE MG - - - - 57

COMPARABLES ANALYSIS AREA OVERVIEW 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15711 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD

15725 ROSCOE BOULEVARD 5 MULTI-FAMILY RENT COMPARABLES 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343

North Hills Portfolio

4 1 Balboa Court Apartments 2 Orion Luxury Apartments

3 Cielo Apartments

15701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343 4 Woodley Plaza Apartments

5 Thirty-Three North Apartment 5 1 6 Village Pointe Apartments 2 3 6 MULTI-FAMILY RENT COMPARABLES MULTI-FAMILY

60 6 5 4 3 2 1 # AVERAGE North Hills,CA 91343 North Ave8935 NOrion Apartment North Thirty-Three Hills,CA 91343 North 10139 Woodley Ave Woodley Apartments Plaza City,Panorama CA 91402 8525 Tobias Ave Cielo Apartments Hills,CA 91343 North Ave8435 Orion Apartments Luxury Orion CA 91343 Northridge, 16915 Napa St Apartments Balboa Court ADDRESS Northridge, CA 91325 Northridge, 17171 Roscoe Blvd Village Pointe Apartments $2.32 AVG RENT/SF SQUARE FOOTAGE 1,160 -1,500 1,250 -1,293 699 900 850 650 - $2,076 RENT/MONTH AVG RENT/MONTH $2,076 $1,775 $1,850 $1,880 $2,495 $2,595 $1,858 RENT/SF $2.32 $2.54 $2.06 $2.21 $2.15 $2.08 $2.86 2BRs +2BAs 3BRs +2BAs 3BRs +2BAs 1BR +1BA 1BR +1BA 1BR +1BA UNIT TYPE UNIT - 61

COMPARABLES ANALYSIS AREA OVERVIEW 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO 15711 ROSCOE BOULEVARD

15725 ROSCOE 15701 ROSCOE BOULEVARD BOULEVARD 6 AREA OVERVIEW NORTH HILLS, CA

San Fernando Valley North Hills is a community in the north-central San Fernando Valley, and within the City of Los Angeles, California.

North Hills was originally an agricultural community known as Mission Acres. After WWII, the newly-developed suburban

AREA OVERVIEW community was renamed Sepulveda. In the latter 1990s, it was renamed North Hills.

North Hills is about a 5.41 square mile neighborhood in San Fernando Valley. North Hills is bordered by Northridge to the west, Panorama City to the east, Van Nuys to the south, and Granada Hills to the north. The main thoroughfares include Sepulveda Boulevard, Roscoe Boulevard, Hayvenhurst, Woodley and Haskell Avenue. North Hills has easy access to the rest of Los Angeles via the San Diego 405 Freeway.

NORTHRIDGE: 4 MILES BURBANK: 15 MILES HOLLYWOOD: 17 MILES

64 $150,000 -$199,999 $200,000+ $150,000 -$200,000 $125,000 -$150,000 $100,000 -$125,000 $75,000 -$100,000 $50,000 -$75,000 $25,000 -$50,000 <$25,000 2019 HOUSEHOLDS BY HOUSEHOLD INCOME 2019 Renter Households: Occupied Households: Occupied 2019 Owner Avg Household Size: 2019 Total Households: Age: Average Housing Occupied Units 2019 Owner 2019 Total Population: 2019 Average Household Income 2019 Median Household Income $250,000 + $200,000 -$249,999 DEMOGRAPHICS $57,850 $39,740 1 MILE 38,702 38,034 1,501 2,701 3,088 7,135 2,634 9,769 32.90 1.2% 1.0% 0.6% 3.80 233 299 352 626 969 3 MILES $70,314 $50,226 321,953 317,668 11,036 14,743 22,635 22,712 52,683 38,313 90,995 3,688 4,259 4,814 7,108 35.90 3.4% 1.8% 1.0% 3.40 5 MILES $79,721 127,477 107,512 234,989 772,794 761,921 13,937 14,127 14,048 21,166 28,613 39,876 50,542 52,681 $58,53 37.10 4.0% 2.4% 1.4% 3.10 65

AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO SAN FERNANDO VALLEY, CA

As home to the world’s major movie studios, the San Fernando Valley is where celebrities live, work and play. It’s made up of gorgeous suburbs and mini-malls. Major network and movie studios call it home

The San Fernando Valley is an urbanized valley in Los Angeles County, California in the AREA OVERVIEW Los Angeles metropolitan area, defined by the mountains of the Transverse Ranges circling it. Home to 1.77 million people, it is north of the larger, more populous Los Angeles Basin.

Nearly two thirds of the valley’s land area is part of the city of Los Angeles. The other incorporated cities in the valley are Glendale, Burbank, San Fernando, Hidden Hills, and Calabasas. Locals refer to the San Fernando Valley simply as “the Valley”.

Known for its entertainment industry, the Valley boasts more than 100 soundstages. Entertainment giants calling the Valley home include Walt Disney Co., Universal Studios, Warner Brothers, DreamWorks and Paramount Ranch. The entertainment industry continues to set the area’s economic pulse. Local motion-picture and entertainment companies employ roughly 25,000 people.

While the Valley has grown into the world’s center for entertainment, aerospace giants Boeing and Northrop Grumman, and 21st Century Insurance also generate numerous well-paying jobs.

INCORPORATED CITIES UNINCORPORATED CITIES • Los Angeles • Glendale • Bell Canyon • Universal City • Burbank • Hidden Hills • Calabasas Highlands • West Chatsworth • Calabasas • San Fernando • Kagel Canyon

66 • Home ownership rate near 50% and large rental bas rental 50%andlarge near rate • Homeownership 2000 since growth income • Substantial well-payingnumerous jobs also generate industries & Services) Health Providence and Permanente (Kaiser andHealthcare Insurance) Century (21st Insurance Grumman) (Boeing &Northrop • Aerospace 25,000people roughly employ companies andentertainment picture motion • Local Ranch andParamount DreamWorks Walt Warner Brothers, Disney Company, Studios, Universal –Homeof industry entertainment the to ties • Strong by 2019 residents –45,000 new projected growth • Population Valley Fernando San inthe • 2.5millionresidents SAN FERNANDO VALLEY HIGHLIGHTS e MAJOR EMPLOYEESMAJOR 67

AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO SHOPPING & RETAIL

Universal Citywalk Adjacent to the Universal Studios Theme Park, Universal CityWalk offers up a plethora of quirky and unique shopping options, as well as a handful of traditional favorites in an Miles entertaining outdoor setting. From Subject Property

AREA VIEW OVER 12 Burbank Town Center Mall The Burbank Town Center Mall at the end of San Fernando along Magnolia Blvd. has many of the chain favorites, including Macy’s, Sears and Bed, Bath & Beyond. Boutiques include Victoria’s Secret, Forever Miles 21 Aeropostale and much more. 15 From Subject Property Ventura Boulevard Ventura Boulevard, a strip of high-end restaurants and shops that stretches from Universal City to Thousand Oaks, is the Valley’s backbone. Miles 6 From Subject Property The Village at Westfield Topanga A brand new central gathering place for shopping, dining, events, entertainment and leisure. The open-air destination offers al fresco patio dining, a full-service gym, spa and yoga studio, along with a weekly farmer’s market. There are also children’s play areas, bocce ball Miles courts and outdoor lounges. 9 From Subject Property Glendale Galleria The Glendale Galleria is a large three-story regional shopping center and office complex. Opened in 1976, with 1.6 million square feet of retail space, it is the fourth largest mall in Los Angeles County after Westfield Topanga, Lakewood Center and Del Amo Fashion Center. Miles 18 From Subject Property 68 69

AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO DEMOGRAPHICS

65,964 Total Population of North Hills, CA. The median age is 42. AREA OVERVIEW 49% 51% Male Female

EDUCATION

36% 28% 18% 5% High School Graduate Some College or Associates Degree Bachelor’s Degree Master’s Degree or Higher

SUMMARY

An ethnically diverse mix of working class people populate this area. You’ll see cuisine options ranging from African, Filipino, to Mexican, and more. There is very little traffic congestion in the neighborhood. Plenty of commercial outlet shopping options are readily available as well as small and independent businesses. North Hills has a charming and subtle vibe that’s perfect for families with children. You many also recognize locations where “Terminator 2” starring Arnold Schwarzenegger was filmed.

70 Average within income 5-m HH radius Median HH income withinMedian income 5-m HH radius Owner Households Occupied $79,721 $58,533 107,512 within 5-m radius Businesses withinBusinesses a5-m radius Renter Households Occupied Population within 5-m radius 761,921 127,477 30,183 within 5-m radius 71

AREA OVERVIEW COMPARABLES ANALYSIS 15725 ROSCOE BLVD 15701 ROSCOE BLVD 15711 ROSCOE BLVD NORTH HILLS PORTFOLIO BRANDON MICHAELS STEVEN SCHECHTER SEAN BRANDT BRANDON Senior Managing Director of Investments First Vice President Investments Investment Associate Senior Director, National Retail Group Director, National Retail Group National Retail Group MICHAELS Tel: (818) 212-2794 Tel: (818) 212-2793 Tel: (818) 212-2653 GROUP SOUTHERN CALIFORNIA'S PREMIER SALES TEAM Fax: (818) 212-2710 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] [email protected] License: CA #01434685 License: CA #01089464 License: CA #01755166 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com