ROADSIDE GOURA A HILLS

PREMIER DEVELOPMENT OPPORTUNITY 45,000 SF OFFICE SPACE

ROADSIDE DR

ROADSIDE GOURA A HILLS

LEWIS RD AGOURA RD

DOROTHY DR PRESENTED BY ROADSIDE GOURA HILLS Lonnie McDermott First Vice President Investments A Senior Director, National Land Group Tel: (818) 212-2745 Mobile: (818) 577-8904 LEWIS RD Fax: (818) 212-2710 1 [email protected] PROPERTY OVERVIEW License: CA: 01874375

Meir Mark Frydman 2 The Frydman Group, KW Commercial DEVELOPMENT FINDINGS Managing Director, National Multihousing Group Tel: (310) 300-4844 Mobile: (818) 462-3424 Fax: (818) 975-5319 [email protected] License: CA 01910722 3 COMPARABLES ANALYSIS

ROADSIDE DR 4 AREA OVERVIEW AGOURA HILLS

westlake village

AVALON OAK CREEK

336 units built 2004

ROADSIDE 270,000 SF GOURA FLEX SPACE A HILLS 28338 ROADSIDE CONEJO VALLEY

EXECUTIVE SUMMARY A high-profile development opportunity in Agoura Hills, CA. 8 The McDermott Group of Marcus & Millichap and The Frydman Group of KW Commercial are pleased to market for sale 28338 Roadside Drive, a high-profile development opportunity located on the south side of Roadside Dr. in the affluent city of Agoura Hills, CA. 2.5MILLION SF 100+ MILLION SF corporate headquarters This unique development opportunity is comprised of 0.83 Acres or approximately 36,161 square feet of vacant land. of high-end retail and entertainment including of office buildings in the in Thousand Oaks and The Oaks, Promenade at Westlake, Whizin Square Conejo Valley 28338 Roadside Drive is ideally positioned in the affluent city of Agoura Hills, CA, which lies in the Easternmost side of the desirable Westlake Village Conejo Valley and the Westernmost region of County. The immediate area boasts high-end demographics, high barriers to entry, Market, and the Canwood Shopping Strip and strong market fundamentals. The property is located just off the Ventura (101) Freeway with excellent frontage on Roadside Dr and potential visibility from the freeway, Conveniently located in the center of a broad range of employment and retail options, the Roadside Drive property is sur-rounded by affluent high-end neighborhoods, one of the finest shopping malls in the (The Oaks Mall), and the numerous commer-cial businesses centers of Agoura Hills, Westlake Village and Thousand Oaks.

The Roadside Drive property falls within the City of Agoura Hills General Plan under the Commercial Retail/Service (CRS) land use district. The land use district and General Plan allow for a 0.4:1 FAR. The General Plan allows for a variety of “By-Right” development options, including service and repair facilities, small offices, medical/dental, hardware and building materials stores, auto and accessories dealers, appliance outlets, etc. Office uses are also permitted in areas designated for Commercial Retail/Service. $975K Median Home Value in Agoura Agoura Hills is a city in Los Angeles County, . Its population is estimated to be at 20,843. It is in the eastern Conejo Valley between Hills, Westlake Village, and Calabasas the and the . The city is on the border between the county of Los Angeles to the east, west and south and Ventura County to the north. It is about 30 miles northwest of and less than 10 miles west of the Los Angeles City $150K 54% limits (Woodland Hills). Agoura Hills and unincorporated Agoura sit next to Calabasas, Oak Park, and Westlake Village. Average household income Population with Bachelor’s within 5 mile radius degree or higher PROPERTY OVERVIEW

PROPERTY INFORMATION

Address 28338 Roadside Dr, Agoura Hills, CA 91301

Price $995,000

LEWIS RD Land SF 31,161 SF VACANT LOT Land Acres 0.83 0.83 ACRES Price / SF $31.93 31,161 SF ZONED AH-CRS-FC Zoning AH CRS-FC

APN 2061-009-075

DEVELOPMENT INFORMATION

Development Options Option 1: Assisted Living Facility Option 2: Office Building Development Option 3: Single-Tenant Retail Option 4: Educational / Child Care ROADSIDE DR General Plan City of Agoura Hills

Land Use District Commercial Retail/Service (CRS)

FAR 0.4:1 28338 ROADSIDE DR - SITE INFORMATION INVESTMENT HIGHLIGHTS

Prime Agoura Hills Location High Barriers to Entry LOCATION 28338 Roadside Dr, High-profile demographics High demand for commercial development Agoura Hills, CA 91301 LEWIS RD Surrounded by affluent neighborhoods SITE The subject property is located on the south side of Central to retail and major employers Roadside Dr

CONCEPTUAL DEVELOPMENT Convenient access to Ventura (101 Freeway) Option 1: A 2-story, 35,000 square foot assisted living facility consisting of 45 dwelling units and 56 total beds (upon pur- chase of adjacent parcel) ROADSIDE DR Option 2: “By-Right” Office Development Option 3: “By-Right” Single-Tenant Retail Development Option 4: “By-Right” Child Care/Educational Facility

SQUARE FOOTAGES The total land square footage is 31,161 square feet.

FRONTAGE AND ACCESS Prime frontage along Roadside Dr and convenient access from visibility from Ventura (101) Freeway

ZONING Subject Property is zoned AH CRS-FC EXECUTIVE SUMMARY OPTION TO COMBINE ADJACENT PARCEL

The offering includes the unique investment opportunity to purchase Address 28338 Roadside Dr, Agoura Hills, CA 91301 the adjacent parcel, a development site comprised of 0.785 acres or approximately 34,180 square feet of vacant land. This investment Price $1,595,000 option provides a substantially larger development site comprised of a combined total of 1.50 acres or approximately 65,341 square feet. Land SF 65,341 SF

Land Acres 1.50 BUYER BENEFITS Price / SF $24.41

1.50 Acre Development Site (approximately 65,341 square feet) Zoning AH CRS-FC

Over 150 feet of frontage along Roadside Drive APNs 2061-009-075 | 076 | 077 $24.41 per square foot

Highest Investment Use

Excellent visibility from Ventura (101) freeway

All utilities to the site

ROADSIDE DR DEVELOPMENT OPTION 1: ASSISTED LIVING DEVELOPMENT OPTION 2: OFFICE BUILDING

*Upon Purchase of Adjacent Parcel A “By-Right” Office Development Opportunity Under the zoning (AH-CRS-FC) and land use designation, a conceptual assisted living The zoning (AH-CRS-FC) and general plan land use district (Commercial Retail / Service) allow for facility (nursing home, memory care, congregate living, skilled nursing facility) consisting a “By-Right” office building development as one of the permitted uses within the district. Roadside Drive of up to 45 dwelling units and 56 total beds is permitted upon the purchase of adjacent 30K is home to a plethora of office buildings, making this type of development a suitable option for the immediate 0.4:1 parcel. area. The City of Agoura Hills General Plan 2035 calls for a floor area ratio of 0.4 : 1 and a maximum building Floor Area Ratio 65 Y.0 Population in Conejo Valley height of 35 ft. for the Commercial Retail / Service land use district.

Building Concept

56 35 ft. Maximum Building Height Total Beds

“By-Right” Development 35K Gross Buidling Sq. Ft DEVELOPMENT OPTION 3: SINGLE-TENANT RETAIL DEVELOPMENT OPTION 4: EDUCATIONAL/CHILD CARE

Concepts A “By-Right” Office Development Opportunity A “By-Right” Office Development Opportunity The zoning (AH-CRS-FC) and general plan land use district (Commercial Retail / Service) allow for Due to market demands, The City of Agoura Hills General Plan a “By-Right” single-tenant retail development as one of the permitted uses within the district. The district has allowed for Educational or Child Care facilities as permitted and immediate area is comprised of several single-purpose retail stores, such as the Furniture District on use within the Commercial Retail / Service land use district. Such Canwood and along Roadside Drive west of the Subject Property. The City of Agoura Hills General Plan development would fill a demand for these types of facilities for 2035 calls for a floor area ratio of 0.4 : 1 and a maximum building height of 35 ft. for the Commercial Retail / the immediate area, making for a seamless transition to approval Service land use district. by The City of Agoura Hills.

Commercial Retail/Service (CRS) The Retail/Service category includes miscellaneous retail and service uses for which a shopper in general makes a single-purpose visit to one establishment. Such uses include service and repair facilities, small offices, medical/dental, hardware and building materials stores, auto and accessories dealers, appliance outlets, etc.

Commercial Retail/Service (CRS) DEVELOPMENT FINDINGS GENERAL PLAN

City of Agoura Hills General Plan The updated Agoura Hills General Plan has been prepared in compliance with the requirements of California Government Code Section 65300 et seq. The Plan is a policy document and much of its content is established by statutory requirements relating to background data, analysis, maps, and exhibits. The legal adequacy of the General Plan is critical, since many City actions and programs are required to be consistent with the Plan. The general plan must address the seven topics (referred to as “elements”) of land use, circulation, housing, open-space, conservation, safety, and noise (California Government Code Section 65302), to the extent that the topics are locally relevant. It may also include other topics of local interest, as chosen by the local jurisdiction (California Government Code Section 65303). Legislative changes integrated two elements presented in the previous Agoura Hills General Plan, Scenic Highways and Safety, into the Circulation and ROADSIDE Safety Elements respectively. GOURA A HILLS Commercial Retail / Service District The Retail/Service category includes miscellaneous retail and service uses for which a shopper in general makes a single-purpose visit to one establishment. Such uses include service and repair facilities, small offices, medical/dental, hardware and building materials stores, auto and accessories dealers, appliance outlets, etc. Office uses are also permitted in areas designated for Commercial Retail/Service POTENTIAL DEVELOPMENT CONSTRAINTS Construction and Land Use Within or Adjacent to High Voltage Transmission Lines Introduction Procedures Los Angeles County Fire Department A. Purpose: Structures underneath and adjacent to high voltage transmission lines A. Code Application: present increased hazards to firefighters and the general public. The purpose of this 1. No new permanent structures shall be constructed within the utility easement underneath 1. Provide a minimum unobstructed width of 26 feet , except for approved security gates in acordance with Section 503.6 and an unobstrcucted regulation is to establish consistent requirements for the construction of new perma- high voltage transmission lines. vertical clearance “clear to ky” Fire Department vehicular access to within 150 feet of all portions of the exterior building walls. nent structures, existing structures, and other secondary land uses within or adjacent Exception: Restrooms and unoccupied telecommunication structures of non-combustible con- (Fire Code 503.2.1) to high voltage transmission line easements. struction less than 15 feet in height. 2. New and existing structures under High Voltage Transmission Lines constructed prior to this Action Required: Cross-hatch the Fire Department vehicle access from proposed structure to the public roadway on the site plan. B. Scope: This regulation shall apply to existing and future proposed secondary land regulation shall be: use within or adjacent to high voltage transmission line easements. a. Grounded and bonded in accordance with CCR Title 24, Part 3, Article 250, ANSI/IEE 142- 2. Dead-endfire apparatus access roads in excess of 150 feet in length shall be provided with an approved Fire Department turnaround. Exception: One and two family residential dwellings adjacent to the high voltage 1991. Additionally, buildings shall be fully bonded from roof to foundations and connected to (Fire Code 503,2.5) transmission line utility easement are exempt from this regulation. the premise’s grounding system. b. Provided with approved signage reading “CAUTION – HIGH VOLTAGE LINES OVERHEAD,” Action Required: Cross-hatch the Fire Department turnaround on the site plan. (Maximum allowable slope is 2%) C. Authority: The Deputy Chief of the Prevention Services Bureau, through the As- at all entrances. sistant Fire Chief (Fire Marshal) of the Fire Prevention Division, is responsible for the c. In compliance with all vegetation management requirements of the Fire Code. 3. Fire Department vehicular access roads shall be provided with a 32 foot centerline turning radius. (Fire Code 503.2.4) content, revision, and periodic review of this regulation. d. Subject to additional Fire Department requirements. 3. Any structure which is proposed to be constructed adjacent to High Voltage Transmission Action Required: Indicate the centerline, inside and outside turning radii for each change D. Authority: Section 503 of the Los Angeles County Fire Code empowers the Fire Lines (within 100 feet of drip line) shall be subject to additional review with regard to Fire in direction on the site plan. Code Official to set specifications for fire access, including overhead obstructions to Department Operational Procedures. fire access. Section 101.3, 102.8, and 104.1 of the County of Los Angeles Fire Code Exception: One and two family residential dwellings (R-3) adjacent to the high voltage trans- 4. The gradient of Fire Department vehicle access roads shall not exceed 15% unless approved establish the legal basis to create regulations for the Fire Code Official to render inter- mission line utility easement. by the fire code official (Fire Code 503.2.7) pretations of the Fire Code, and to enforce supplemental rules and regulations in order B. Approved secondary use(s): POWER LINE to carry out the scope and intent of the Fire Code which includes firefighter safety. 1. New and/or existing agricultural and recreational use may continue as long as the above Action Required: Indicate the grade in percentage of the Fire Department access requirements are met. roadway on the site plan. ADJACENT PARCEL E. Definitions: 2. New and/or existing outside storage of combustible materials is subject to the following AVAILABLE FOR SALE 1. Adjacent to a High Voltage Transmission Line Easement: A 100-footwide requirements: 5. A minimum 5 foot wide approved firefighter access walkway leading from the fire area adjacent to and parallel with the drip line of the most outward high voltage trans- a. Provide an approved storage configuration plan. apparatus access road to the buildings exterior openings shall be provided for fire mission line. b. Storage of hazardous materials, including flammable and combustible liquids, is prohibited. fighting and rescue purposes (Fire Code 504.1) 2. Combustible Materials: A liquid or solid substance that can ignite and can burn c. Combustible storage shall be restricted to individual piles not exceeding 5,000 square feet readily. or 50,000 cubic feet in volume. Action Required: Indicate firefighter walkway access routes on the site plan. 3. High Voltage Transmission Line: Electric power transmission line operating at or d. A clear space of at least 20 feet or half the height of the pile, whichever is greater, shall be (Walking access must be unobstructed and clear to the sky) above 66 kilovolts. provided between piles. The clear space shall not contain flammable or combustible material (Indicate the slope along the walking access route) 4. New Permanent Structure: Any structure to be erected for more than 180 days/year. or vegetation. 5. Passenger vehicle is defined as a sedan type automobile, small utility truck, sport e. Required on-site hydrants shall be spaced at a maximum of 600-foot intervals. 6. Grade break shall not exceed the maximum angle of approach utility vehicle, van or mini-van with a gross vehicle weight of 10,000 pounds or less. or departure for Fire Department apparatus. 6. Recreational vehicle and its derived acronym, RV, refers to an enclosed piece of equipment dually used as both a vehicle, a temporary travel home, or a full time home. Action Required: Provide roadway profile and indicate angle of 7. Secondary Land Use: Includes all land uses other than the transmission of power. approach and departure at changes in grade. CURRENT CONDITION - HIGH VOLTAGE TRANSMISSON LINE POWER LINE

ADJACENT PARCEL Required Action As per the procedures outlined by The City of Agoura Hills in regards to construction and land use within or adjacent to high voltage transmission lines, the current power line on the subject property and adjacent parcel as shown in the outline must be moved in order to maximize the site’s development footprint and meet the requirements of the city. The available options are provided below:

Option 1: Power line to be moved to another portion of the site, allowing for required distance between power line and new building construction.

Option 2: Power line to be undergrounded, maximizing the site’s development footprint and preventing increased hazards to firefighters and general public.

Option 3: Build project with a minimum 100 foot setback from the power line with fire department access through rear of property. EASEMENTS 1 1. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: City of Agoura

Purpose: Sewer and Water facilities, including access and aerial and underground communication facilities

2. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: City of Agoura

Purpose: Equestrian and hiking trail 3 3. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Purpose: Poles or Conduits 2 COMPARABLES ANALYSIS MARKET COMPARABLES - LAND

ADDRESS COE DATE PRICE ZONING USE LAND (SF) $ / SF

1 28251 Dorothy Dr, ON MARKET $5,200,000 AH CRS-FC Commercial 126,324 SF $41.16 Agoura Hills, CA 91301

ROADSIDE 2 3 28115 Agoura Rd ON MARKET $2,800,000 BP, O, R, FC, Commercial 78,016 SF $35.89 GOURA HILLS Agoura Hills, CA 91301 OA, AH A

3 29621 Agoura Rd, ON MARKET $7,875,000 BP-M-FC Commercial 225,205 SF $34.97 Agoura Hills, CA 91301

1 5

4 4 0 Dorothy Rd ON MARKET $1,074,990 AH CRS-FC Commercial 35,832 SF $30.03 2 Agoura Hills, CA 91301

5 28266 Dorothy Dr, 10/27/16 $340,000 AH CRS-FC Commercial 11,761 SF $28.91 Agoura Hills, CA 91301 MARKET COMPARABLES - LAND

$50.00 $2.50M PRICE / SF PRICE / ACRE $45.00 $2.25M

$40.00 $2.00M

$35.00 AVG: $34.19 $1.75M

AVG: $1.55M $30.00 $1.50M

$25.00 $1.25M

$20.00 $1.00M

$15.00 $0.75M

$10.00 $0.5M

$5.00 $0.25M

28338 1 2 3 4 5 28338 1 2 3 4 5 ROADSIDE ROADSIDE AREA OVERVIEW CONEJO VALLEY AGOURA HILLS

One of the most affluent areas in the United States A high-end family-oriented community The Conejo Valley is one of the most affluent areas in the country. It was ranked as $104,000 Nestled at the northern edge of the beautiful and serene Santa Monica Mountains one of the top 100 places to live in the country by Money Magazine. The Conejo Average Household income and the southern edge of the rolling Simi Hills, the City of Agoura Hills is a very quiet, Valley is a stunning area surrounded by rolling hills, majestic oak trees, and open friendly and family-oriented community. Boasting some of the few paths through space. The valley is located about an hours drive north from Downtown L.A., the breathtaking Santa Monica Mountains to the paradise beaches of Malibu, and a 45 minutes south of Santa Barbara, and about 30 minutes east of Malibu and the carefully planned layout to maintain a harmonious balance between residential and ocean. The Valley is an ideal location to live, work, and visit. business development, Agoura Hills is the ideal location for both raising a family and starting or growing a business. The Conejo Valley is made up of five main towns/cities: Westlake Village, Thousand Oaks, Oak Park, Agoura Hills, and Newbury Park. Lake Sherwood, which is its own Once known as Picture City, Agoura Hills was the filming site for myriad western unincorporated community, is also part of the Conejo Valley as well as a portion movies, including “” (1931), “The Virginian” (1946) and “Gunfight at the of the city of Calabasas. OK Corral” (1957). Following the dozens of western movies filmed here, a host of the most classic of T.V. shows including “The Rifleman,” “The Dukes of Hazard,” and Boasting some of the finest weather in the country, the area provides a sunny, mild “CHPS” were filmed in the rustic hills and winding streets of Agoura. Today, the hills climate with the perfectly-timed ocean breeze. With average winter temperatures are quieter without the filming, but the streets are still driven by many of today’s in the mid-50s, average summer temperatures in the mid-70s and 347 days of 140,000 actors and celebrities who call Agoura Hills home. Today, visitors can see the props California sunshine a year, the Conejo Valley is an ideal place to live, work and visit. Daytime Population within 5-m radius and history of Agoura Hills’ Picture City days with free admission to Paramount’s The people of Conejo Valley cherish the perfect combination of small town living “.” and world-class industry, shopping and recreation in their own backyard. With the quiet neighborhoods and rich history, Agoura Hills is among the most Many high-tech companies, particularly those in biotechnology, including Amgen, coveted areas to live in the U.S. and hosts the popular Great Race of Agoura. It Baxter, General Dynamics Corporation, and Rockwell International are prevalent is listed as one of SafeWise 50 Safest Cities, and has earned that reputation over in the area. It also includes many other tech corporations, especially dot com years. Located just a short drive from the booming commercial areas and nightlife companies and telecommunications like Verizon and Verizon Wireless. It also is of Los Angeles, the thriving business districts and attractions of Thousand Oaks, and home to many healthcare and other various companies like WellPoint, J.D. Power the world-renowned beaches and wineries of Malibu, work and play are never far and Associates, Volkswagen, Audi, THQ, SAGE Publications, MacTech and JAFRA away. Cosmetics 54% Bachelor’s Degree or higher SHOPPING AND RETAIL

THE OAKS The Oaks Shopping Center is a two-level indoor/outdoor, super-regional shopping mall located in Thousand Oaks, California. It is owned and managed by Macerich. Accessible from the US Highway 101 midway between downtown Los Angeles and Santa Barbara, it is one of two malls in its area (competing with the Town Center) and the largest shopping center in Ventura County.The 1,300,000-square-foot (120,000 m2) mall was originally built in 1978 and was renovated in 1993. Starting in February 2007, the center has undergone an extensive upgrade including interior finishes, restrooms, entrance canopies and skylights to reflect a modern Spanish and Santa Barbara-influenced design. The expansion includes a demolition of the then-vacated Broadway building and a Muvico 14-screen stadium seat theater and Bogarts, a full-service restaurant, built in its place. Additional features include a 10-unit Spanish Dining Hall and amenities like family restrooms with granite, stacked flagstone and limestone tile. Centered on the theatre are four sit-down restau- rants: Lazy Dog Cafe and Red Robin, which are both connected to a 112,330-square-foot retail expansion in an outdoor environment, while Olive Garden and Red Lobster are located across the parking lot. The Cheesecake Factory is located inside the Shopping Center with patio dining available THE COMMONS AT CALABASAS The Commons at Calabasas is an upscale retail and entertainment complex in Calabasas, California, United States, built, owned, and operated by Rick J. Caruso and his company Caruso Affiliated. It has now become a tourist destination as celebrities, such as Kim Kardashian, are frequently seen at the high-end shopping center. Development of the upscale retail and entertainment complex began with a vision of an Umbrian village, complementing the community’s dominant Mediterranean style. Carusco Affiliated did not just want to build a shopping center, but a town center for the city of Calabasas. The Commons at Calabasas opened in 1998 and has been a popular high-end outdoor mall ever since. The 215,000-square-foot (20,000 m2) outdoor market- All within a short drive from 28338 Roadside Dr, place is located in Calabasas’ Calabasas, California in Los Angeles County. Caruso Affiliated claims the design resembles a Tuscan hill town of the Umbria region in rural Italy, renovated to be a retail resort. Its 40 tenants the Conejo Valley offers some of the finest retail centers provide everyday needs, lifestyle/specialty shops, and entertainment. in the United States. The centers offer high-end retail, fine PROMENADE AT WESTLAKE The Promenade (formerly the Westfield Promenade) is a large dead shopping mall owned by Westfield Group and located on Topanga Canyon Boulevard in the Woodland Hills district of Los Angeles. It was previously dining, and community gatherings that have become long- known as The Promenade at Woodland Hills and Westfield Shoppingtown Promenade. The mall is anchored by a 16-screen AMC Theatre. By 2015, Westfield removed the property from its corporate website and had removed the Westfield name from all signage on the property and officially changed the name of the property lived staples in the Conejo Valley. to The Promenade. In October 2016, Westfield officially announced that the mall is going to be demolished and replaced by a new $1.5 billion residential development called Promenade 2035. ROADSIDE GOURA A HILLS Lonnie McDermott First Vice President Investments Senior Director, National Land Group Tel: (818) 212-2745 Mobile: (818) 577-8904 Fax: (818) 212-2710 [email protected] License: CA: 01874375 45,000 SF OFFICE SPACE

Meir Mark Frydman ROADSIDE DR The Frydman Group, KW Commercial Managing Director, National Multihousing Group Tel: (310) 300-4844 ROADSIDE Mobile: (818) 462-3424 GOURA Fax: (818) 975-5319 HILLS [email protected] A License: CA 01910722

LEWIS RD AGOURA RD

DOROTHY DR