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1320 Talbryn Drive Belmont, California FOR SALE “Shovel-Ready” Residential Development 1320 Talbryn Drive Belmont, California Exclusively Represented By Bruce M Paris Investment Properties/NLSG (650) 577-2933 [email protected] CBRE Group, Inc. Capital Markets THIS LETTER/PROPOSAL IS INTENDED SOLELY AS A PRELIMINARY EXPRESSION OF GENERAL INTENTIONS AND IS TO BE USED FOR DISCUSSION PURPOSES ONLY. THE PARTIES INTEND THAT NEITHER SHALL HAVE ANY CONTRACTUAL OBLIGATIONS TO THE OTHER WITH RESPECT TO THE MATTERS REFERRED HEREIN UNLESS AND UNTIL A DEFINITIVE AGREEMENT HAS BEEN FULLY EXECUTED AND DELIVERED BY THE PARTIES. THE PARTIES AGREE THAT THIS LETTER/PROPOSAL IS NOT INTENDED TO CREATE ANY AGREEMENT OR OBLIGATION BY EITHER PARTY TO NEGOTIATE A DEFINITIVE LEASE/PURCHASE AND SALE AGREEMENT AND IMPOSES NO DUTY WHATSOEVER ON EITHER PARTY TO CONTINUE NEGOTIATIONS, INCLUDING WITHOUT LIMITATION ANY OBLIGATION TO NEGOTIATE IN GOOD FAITH OR IN ANY WAY OTHER THAN AT ARM’S LENGTH. PRIOR TO DELIVERY OF A DEFINITIVE EXECUTED AGREEMENT, AND WITHOUT ANY LIABILITY TO THE OTHER PARTY, EITHER PARTY MAY (1) PROPOSE DIFFERENT TERMS FROM THOSE SUMMARIZED HEREIN, (2) ENTER INTO NEGOTIATIONS WITH OTHER PARTIES AND/OR (3) UNILATERALLY TERMINATE ALL NEGOTIATIONS WITH THE OTHER PARTY HERETO. TABLE OF CONTENTS SECTION I Executive Summary SECTION II Salient Property Data Property Photographs Aerial Photographs Area Map Parcel Map Unit Plans SECTION III Zoning Map R-1 Zoning SECTION IV Comparable Sales/Lease Survey SECTION V Market Overview SECTION VII Marketing Team Qualifications THIS LETTER/PROPOSAL IS INTENDED SOLELY AS A PRELIMINARY EXPRESSION OF GENERAL INTENTIONS AND IS TO BE USED FOR DISCUSSION PURPOSES ONLY. THE PARTIES INTEND THAT NEITHER SHALL HAVE ANY CONTRACTUAL OBLIGATIONS TO THE OTHER WITH RESPECT TO THE MATTERS REFERRED HEREIN UNLESS AND UNTIL A DEFINITIVE AGREEMENT HAS BEEN FULLY EXECUTED AND DELIVERED BY THE PARTIES. THE PARTIES AGREE THAT THIS LETTER/PROPOSAL IS NOT INTENDED TO CREATE ANY AGREEMENT OR OBLIGATION BY EITHER PARTY TO NEGOTIATE A DEFINITIVE LEASE/PURCHASE AND SALE AGREEMENT AND IMPOSES NO DUTY WHATSOEVER ON EITHER PARTY TO CONTINUE NEGOTIATIONS, INCLUDING WITHOUT LIMITATION ANY OBLIGATION TO NEGOTIATE IN GOOD FAITH OR IN ANY WAY OTHER THAN AT ARM’S LENGTH. PRIOR TO DELIVERY OF A DEFINITIVE EXECUTED AGREEMENT, AND WITHOUT ANY LIABILITY TO THE OTHER PARTY, EITHER PARTY MAY (1) PROPOSE DIFFERENT TERMS FROM THOSE SUMMARIZED HEREIN, (2) ENTER INTO NEGOTIATIONS WITH OTHER PARTIES AND/OR (3) UNILATERALLY TERMINATE ALL NEGOTIATIONS WITH THE OTHER PARTY HERETO. Executiva Summary 1320 Talbryn Drive 1320 Talbryn Drive Belmont, California . Fully entitled subdivision map . Complete design approvals . State of art environmental specifications & economies . Significant existing demand generators . TOD functionality via Belmont Village Specific Plan Area . Diverse and creditworthy demographic base . Historically stable employment and occupancy demand . Significant limitations on future development within the area . Projected population growth through continued high-tech employment . Continued long-term demand within Bay Area Metro Area . Adjacent neighborhood is fully built- out and gentrified. Contemporary home designs in a homogenous configuration creates coherent view orientated site plan, access and aesthetic appeal. Salient Property Data 1320 Talbryn Drive Location: 1320 Talbryn Drive, Belmont, California . Property Type: The Property consists of an irregular shaped, R-1 zoned ±63,908 square foot, 1.47 acre, residential Subdivission property with tentative Subdivission map consisting of four (4) lots all of which offer spectacular San Francisco Bay views. Assessor’s Parcel No.: 045-201-190 Use Status: Currently, the property is improved with an older single- family residence which will removed as part of site development. Existing Improvements & Site Configuration: The existing improvements consist of an older two-story wood frame structure with perimeter grade beam foundations. Access to the site is from a private road describes as Talbryn Place. Of significance is the site’s direct views to the northeast which incorporate views of San Francesco Bay, Twin Pines Park, San Francisco skyline and the surrounding hills. Zoning/Planning: Zoning; R -1A Single Family Residential, General Plan Designation: RL - Low Density Residential. This zoning district and general plan designations intended to provide areas of homogeneous single family residential uses in suitable locations for the various types of residential accommodations needed in the City, and to provide a means of regulating the density and distribution of the population in conformance with the purposes of the Comprehensive General Plan and this Ordinance. Area Description: The subject Property consists of a “state of art” infill residential development site opportunity which is adjacent to existing high-quality view oriented luxury residential. The Property is geographically located in the western hills Belmont and just west of the newly created Village Precise Plan Area and the associated JPB Transit Corridor Plan Area. Surrounding properties are predominantly high- value single family detached residential with proximity to the Belmont City Hall, Twin Pines Park and the downtown community retail. Within the perimeter district which Salient Property Data 1320 Talbryn Drive consists of high density and gentrified residential in nature consisting of one, two & multi-story structures with a significant future development component primarily focused within the Belmont Village Precise Mixed-Use Plan Area. Major Arterial access is provided to the site from El Camino Real and Highway 101 via Ralston Avenue with good access to all major arterials including direct proximity to local retail and the Safeway Center community shopping center. Pending Development: The subject property is near many properties which will be related to the Belmont Village Precise Plan Area and resulting Transit Corridor Development. Major projects include: 490 El Camino Real: This mixed-use (residential/commercial) project includes construction of a four story 73-unit residential condominium building and a stand-alone 4,909 square foot single story commercial building; the residential units range from one to three-bedrooms in size. An underground garage (138 spaces) will serve the residential units, and 29 at grade spaces will be provided for the commercial/residential uses. The project includes outdoor patio areas, common area open space, as well as a fitness center. The project includes an environmental study, Rezoning of the property to Planned Development (PD), and a Subdivision Map for the condominiums. 576-600 El Camino Real: This development project consists of a mixed-use (residential/commercial) building located on three parcels (approximately 0.9 acres in combined area). The three-story building would include approximately 11,000 square feet of retail space at the street level, and 1, 2 and 3-bedroom condominiums at the upper levels (32 residential units). Street-level commercial parking, basement parking for residents, and a public court and landscaped rear yard is also proposed. Crystal Springs Upland Private School, 6, 8 & 10 Davis Drive: The project will involve the construction of a new private middle school on the 6.46- Salient Property Data 1320 Talbryn Drive acre site. The school would serve up to 240 6th, 7th, and 8th grade students and employ up to 43 faculty and staff. The project would include an Academic Center, Multi-Purpose Building, Gymnasium, Storage Building, landscaping, and site improvements as part of Phase 1. Phase 2 would include construction of an enclosed swimming pool. Buildings on the site would total approximately 60,000 square feet. Hilton Homewood Suites Hotel, 1201 Shoreway Road: This project includes the construction of a five- story, 62,640 square foot hotel on a one-acre property (former Empire Lumber site). The 96-room hotel would also include meeting room, breakfast, and ancillary food preparation areas, an indoor fitness area, outdoor second floor deck/patio with kitchen/bar and seating, and an indoor pool/spa. A surface parking lot for 73 vehicles is proposed for the hotel. Vehicular access to the site would be provided via a driveway from Shoreway Road. The project site is currently zoned M-1 Limited Manufacturing and is proposed to be rezoned to C-3 Highway Commercial as part of project entitlements. Marriott Summerfield Suites 1402 Cormorant Drive: This project includes the construction of a four- story 169-room hotel on a 3.39-acre lot located at the southeast corner of the intersection of Shoreway Road and Cormorant Drive. The hotel would also include meeting room space, a lounge and bar, a buffet area, an exercise room, an outdoor swimming pool, and an outside patio. A surface parking lot for 169 vehicles is proposed for the hotel. Primary vehicular access to the site would be provided via a driveway along Cormorant Road directly across from the access point to the Nikon Precision, Inc. property. A second entrance would be provided at the northeast corner of the site from an existing parking aisle. The project site is currently zoned M-1 Limited Manufacturing and is proposed to be rezoned to C-3 Highway Commercial as part of project entitlements. Salient Property Data 1320 Talbryn Drive Autobahn Motors Mercedes Reconstruction Project 700 Island Parkway: This 5.8-acre Project involves demolition of the existing facility and construction of a new dealership serving the same general purpose. The
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