Seaside, California PRICE: $5,900,000 | 5.75% CAP RATE

FERGUSON LEASED INVESTMENT - MULTI-TENANT Monterey County, Seaside, California PRICE: $5,900,000 | 5.75% CAP RATE

CONTACT

TABLE OF CONTENTS: Josh Jones Managing Director Investment Opportunity 1 D 831 647 2106 M 831 233 2196 Investment Highlights 1 [email protected] lic. 01352818 Offering Summary 2

Michael Schoeder Site Plan & Parcel Map 3 Managing Principal DErik 831 Hallgrimson 647 2105 Aerials 4 MExecutive 831 595 Managing 1010 Director +1 408 615 3435 [email protected]@cushwake.com Tenant Overview 6 LIClic. #0127454000989268 Location Overview 8

Confidentiality & Disclaimer 12

1 Lower Ragsdale Drive Building 1, Suite 100 Monterey, CA 93940 ph: +1 831 375 8000 fx: +1 831 647 2116 cushmanwakefield.com 1144 & 1148 Fremont Boulevard, Seaside, CA

Investment Opportunity Cushman & Wakefield, is pleased to present to the market the opportunity to acquire 1144 & 1148 Fremont Boulevard, Seaside, California (the “Property”) a trophy 23,525 square foot multi-tenant retail building for sale. The Property is occupied by Ferguson Enterprises and Hope Services. The remaining vacant unit consists of 1,631 square feet of retail and 4,898 square feet of second floor mezzanine.

Investment Highlights • Rare Monterey Peninsula Investment Property • 72% Occupied (Value-Add Opportunity with Further Lease-Up) • Tremendous Barriers to Entry • Credit Tenants • Staggered Lease Terms

The Property is located on the main corridor of Seaside on Fremont Boulevard with traffic counts totalling 26,100 ADT.

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Offering Summary

Property Information Property Details 1144 -1148 Fremont Blvd., Seaside, Legal Address Price $5,900,000 CA 93955 In-Place Cap Rate 5.75% County Monterey County

APN 012-371-022 Operations Summary Current Estimate Estimated Gross Income $381,912 First Floor Building (SF) Approx. 18,627 SF Expense Reimbursements $109,031 Mezzanine (SF) Approx. 4,898 SF Estimated Effective Income $490,943 Operating Expenses $151,432 Total Building (SF) Approx. 23,525 SF Net Operating Income $339,511 Land Area (SF) Approx. 52,348 SF Retail and Service oriented Land Use businesses Type of Ownership Fee Simple 1963 with major renovations in Year Built 2005 Zoning CC - Community Commercial

On-site Parking 57 Parking Stalls

Ceiling Height Approx. 21 Feet

Fire Sprinklers Full wet system

Roof New Roof October 2018

Construction Reinforced Concrete Block

Foundation Concrete Slab

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Site Plan Parcel Map

UNIT C ±1,273 SF ±3,625 SF (LOFT)

MEZZANINE

UNIT C ±1,631 SF FERGUSON’S HOME DESIGN VACANT HOPE SERVICES

1ST FLOOR

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Aerial

SITE

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LAGUNA GRANDE REGIONAL PARK EMBASSY SUITES POST NO BILLS CRAFT BEER HOUSE

HOLIDAY INN EXPRESS MONTERY TIDES STAPLES HOME DEPOT SANTA CRUZ MONTEREY BAY CHILI’S

DMV TRINITY PARK

KELLY MOORE PAINTS

SUSHI TIME 7 ELEVEN KFC H&R BLOCK WENDY’S METRO PCS MILLERS CARPET ONE HILBY AVENUE

FRANCIS AVENUE FREMONT BOULEVARD

SITE

CARL’S JR

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Ferguson Enterprises raises the bar for industry standards as the top-rated wholesale supplier of commercial and residential plumbing supplies. However, their expertise goes beyond plumbing. They are a diverse distributor that spans multiple businesses including HVAC/R, waterworks and industrial. In the past 65 years, they’ve grown from a local distributor to a $16.7 billion dollar company Serving communities with more than 1,400 locations and over 27,000 associates nationwide. Every step of the way, they and industry by serve communities and industries by connecting people with expertise and products to power connecting people success. Providing world-class customer service is a cultural belief that is demonstrated every day with expertise and through their expansive product selection backed by their knowledgeable associates. products to power success.

/6 1144 & 1148 Fremont Boulevard, Seaside, CA Tenant Overview

Hope Services is the leading provider of services to people with developmental disabilities in Silicon Valley for over 66 years. They serve more than 3,500 people and their families in six counties and provide a broad spectrum of services for infants through seniors such as children’s services, day programs, staffing, mental health services, community living services, and senior services.

Their vision is to promote a common understanding Improving the that the world is a better place when people with disabilities are fully integrated into our community quality of life for and culture. individuals with developmental disabilities

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Location Overview

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Monterey County & Monterey Peninsula Overview

Monterey County is located on the Pacific Coast of California, its northwest- ern section forming the southern half of Monterey Bay. (Santa Cruz County forming the northern half). The county seat is Salinas. Monterey County is a member of the regional governmental agency, Association of Monterey Bay Area Governments. The beautiful coastline, including Big Sur, California Highway 1, and the 17 Mile Drive on the Monterey Peninsula has made the county world famous. The economy is primarily based upon tourism in the coastal regions, and agriculture in the Salinas River Valley. Most of the population is concentrated along the northern coast and Salinas Valley, while the southern coast and inland mountain regions toward Big Sur are almost devoid of human habitation.

Visitors enjoy strolling the streets of Monterey, absorbing the historical and cultural past. The Monterey Peninsula features an array of fine restaurants, boutiques, galleries, inns and recreational opportunities and is host to a wide variety of festivals and world class events.

Seaside, Sand City, and Marina are the fastest-growing cities on the Pen- insula. Within their borders are the California State University at Monterey Bay, Seaside State Beach, Marina State Beach and two championship golf courses. In addition, the majority of big box and regional retailers are located within Seaside, Sand City and Marina areas.

Carmel Valley is a combination of sunshine and countryside. The valley re- tains the agricultural character of its history: rustic barns, fields of vineyards Pebble Beach is an unincorporated community on the Monterey Pen- and grazing animals. Carmel Valley Village is 12 miles east of Carmel and is insula in Monterey County. It lies at sea level. Pebble Beach is a small home to Garland Ranch Regional Park. coastal residential community of mostly single-family homes and resort destinations. It is home to the famous golf facilities-Cypress Carmel-by-the-Sea, with a population of 5,000 residents, plays host to Point Club, Monterey Peninsula Country Club, and of course, Pebble thousands of visitors each year. By the 1920’s Carmel had already achieved Beach Golf Links. its international reputation as an artists’ colony. Its attractions include the downtown shopping district, specialty shops, boutiques, art and photogra- Pacific Grove, self-proclaimed as “America’s last hometown,” is known phy galleries, great restaurants and beautiful beaches. for its thriving population of Monarch butterflies. A walk through the residential neighborhoods reveals many well-preserved, turn of the century, Victorian homes.

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The City of Seaside

The City of Seaside is an ocean-side community that overlooks the Transportation beautiful Monterey Bay on the Central Coast of California. Situated im- Monterey is primarily served by Highway 1, the highway that paral- mediately off of Pacific Coast Highway (Highway 1), Seaside is just 2 lels the California coast. Additionally, the Monterey Peninsula Airport, miles from Downtown Monterey, 6 miles from Carmel and 7 miles from located less than two miles from the Property, serves the California the famed Pebble Beach Golf Links. Central Coast, with over 40 daily flights available to both northern and southern regions of the state, as well as Arizona and Colorado. The city While the foundation of the Seaside business community is made up is served by an extensive public transportation network, the Monterey- of small family-owned establishments, national retailers and restaurant Salinas Transit (MST), which serves the greater Monterey Bay, and areas groups also call Seaside home, as well as the Seaside Auto Center, one as far south as Paso Robles and Big Sur, and as far north as Watsonville of the first auto malls in the country which boasts a wide variety of and San Jose. The network is utilized by droves of tourists as well as sales and service options for vehicles of all makes and models. residents.

Population and Economy Seaside is a family community that prides itself on diversity and cultural richness. At just over 9 square miles, Seaside has the largest population on the Monterey Peninsula of 34,182 residents. With the redevelopment of Former Fort Ord lands, Seaside is transforming into the world class destination.

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The City of Seaside

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CONFIDENTIALITY & DISCLOSURES

Cushman & Wakefield has been engaged as exclusive advisor to nothing herein shall be deemed to constitute a representation, war- the Seller, in connection with Seller’s solicitation of offers for the ranty or promise by Seller nor any of its respective officers, directors, purchase of 1144 & 1148 Fremont Boulevard located in Seaside, shareholders, owners, employees, agents, members, managers, etc., California (“The Property”). Said solicitation and potential sale to as to the future performance of the Property or any other matters be governed by this Confidential Offering Memorandum, as it may set forth herein. A prospective purchaser’s sole and exclusive rights be modified or supplemented (the “Offering Memorandum”) and with respect to this prospective transaction, the Property, or informa- a purchase agreement. Prospective purchasers are advised that as tion provided herein or in the Due Diligence Materials, shall be limited part of the solicitation process, Seller will be evaluating a number of to those expressly provided in an executed purchase agreement and factors including the current financial qualifications of the prospec- shall be subject to the terms thereof. In no event shall a prospective tive purchaser. Prospective purchasers are further advised that the purchaser have any other claims against Seller or any of its officers, Seller expressly reserves the right in its sole and absolute discretion directors, shareholders, owner’s employees, agents, members, man- to evaluate the terms and conditions of any offer and to reject any agers, etc., for any damages, liability, or causes of action relating to offer without providing a reason therefore. Further, Seller reserves this solicitation process or the marketing or sale of the Property. Pro- the right to terminate the solicitation process at any time prior to spective purchasers are not to construe the contents of this Offering final execution of a purchase agreement. The Property is being of- Memorandum, any Due Diligence Materials or any prior or subsequent fered on an “AS IS” basis. This Offering Memorandum is furnished to communications from Seller or any of its respective officers, directors, prospective purchasers on a confidential basis solely for the purpose shareholders, owners, employees, agents, members, managers, etc. of prospective purchasers determining whether to submit an offer as legal, tax or other advice. Prior to submitting an offer, prospective to purchase the Property. The information contained herein, or any purchasers should consult with their own legal counsel and personal other related information provided by Seller may not be reproduced and tax advisors to determine the consequences of an Investment in or redistributed or used in whole or in part for any other purpose. the Property and arrive at an independent evaluation of such invest- No person has been authorized to give any information or to make ment. any representation or warranty, either express or implied, other than those contained in an executed purchase agreement subject to any disclaimer or limitations set forth therein, and if given or made in any other form, such information or representation should not be relied upon. While Seller has no reason to believe that the information pro- CONTACT vided herein, or in the due diligence materials, contain any material inaccuracies, neither Seller nor any of its respective officers, direc- Josh Jones Michael Schoeder tors, shareholders, owners, employees, agents, members, managers, Managing Director Managing Principal etc., make any representations or warranties, express or implied, as to D 831 647 2106 D 831 647 2105 the validity, accuracy or completeness of the information provided M 831 233 2196 M 831 595 1010 or to be provided except as may be set forth in an executed pur- [email protected] [email protected] chase agreement, subject to any disclaimers or limitations set forth therein. Without limiting the generality of the foregoing sentence, lic. 01352818 lic. 00989268

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