BRANDON MICHAELS GROUP

Rancho Vista Plaza

3007, 3011, 3053, 3115, 3135, 3145, 3167 Rancho Vista Blvd, Palmdale, CA 93551 EXCLUSIVELY LISTED BY:

1 2 3 4 BRANDON MICHAELS Senior Managing Director Investments BRANDON Property Overview Investment Highlights Financials Sales Comparables Senior Director, National Retail Group MICHAELS Tel: (818) 212-2794 GROUP Fax: (818) 212-2710 [email protected] License: CA #01434685

2 3 v PALMDALE, CA

PALMDALE MARKETPLACE

Dillard’s Vans Old Navy PALMDALE Forever 21 Foot Locker BJ’s Restaurants REGIONAL Old Navy Macy’s Olive Garden Dick’s Sporting See’s Candies Outback Steak- AIRPORT Goods Yard House house

JUNIPER MIDDLE SCHOOL DOS CAMINOS ELEMENTARY ANTELOPE VALLEY FREEWAY (14)

RANCHO VISTA BOULEVARD

THE PALMDALE AMPITHEATRE

Rancho Vista Plaza 30TH STREET W

RANCHO VISTA 1,300 ACRE MASTER PLANNED COMMUNITY

4 5 Executive Summary

Marcus & Millichap has been selected to exclusively present Rancho Vista Plaza, a 55,438-square-foot shopping center shadow-anchored by Vons and Rite-Aid in Palmdale, CA. Rancho Vista Plaza is located on the northwest corner of Rancho Vista Boulevard and 30th Street W, within close proximity to the Interstate 14 Antelope Valley Freeway. Rancho Vista Plaza is ideally located at the gateway of Rancho Vista, a 1,300 acre master-planned community. The center serves the daily needs of the immediate residents. With excellent cross-over grocery, shopping, service related, and dining options, Rancho Vista Plaza is the dominant center in the immediate area. Rancho Vista Plaza is shadow-anchored by multiple nationally recognized tenants including Vons (Not a part of the sale. “NAP”), Rite Aid (NAP), Burger King (NAP) and El Pollo Loco (NAP), Chevron (NAP), Subway, Metro PCS, and State Farm Insurance. Rancho Vista Plaza is within close proximity to the Antelope Valley Mall and the commercial corridor of 10th Street W, which is home to Best Buy, Lowe’s, Target, Trader Joe’s, Walmart, Sam’s Club, and more. The center is situated on 280,353 square feet of land, located near the Antelope Valley Country Club and Rancho Vista Golf Course.

The retail/office shops at Rancho Vista Plaza are currently 89% occupied, creating an opportunity to acquire a strong performing drug and grocery anchored center with significant upside through stabilization. The well-seasoned tenant mix has flourished at this location. 47% of the current tenant mix has operated at this center for 10 years or more, with 67% of the center having successfully operated at this center for more than 5 years. These tenants have exemplified excellent operations history, and have well-established businesses that have succeeded in diverse market conditions. Rancho Vista Plaza is in excellent condition, and is an aesthetically pleasing center that has been well maintained and upgraded throughout the years, which has allowed the center to prosper.

Palmdale, California is an upper middle class community located in Los Angeles County. Included in the sale of Rancho Vista Plaza is an undeveloped parcel of land just north of the corner of Rancho Vista Blvd and 30th St W. This 29,902 square foot piece of land can be redeveloped and creates significant upside to the center. It is home to major employers including Lockheed Martin, Northrop Grumman, Boeing, and CarMax. The average household income is $110,000 within a 3-mile radius and a surrounding population north of 100,000 people. 6 7 Property Overview

PROPERTY INFORMATION

3007, 3011, 3053, 3115, 3135, 3145, 3167 Address Rancho Vista Blvd, Palmdale, CA 93551

Property Type Shopping Center 3001-097-001 | 3001-097-002 | 3001-097-018 | APN’s 3001-097-007 | 3001-097-011 & 30TH STREET W 3001-097-012, which is a building pad, not built.

Zoning PDR3-C NOT A PART (NAP)

FINANCIAL INFORMATION NOT A PART Asking Price $12,990,000 (NAP) Price/SF $234.32 (NAP) (NAP) Current CAP Rate 7.7 7% ProForma CAP Rate 8.49% (NAP) Current NOI $1,009,071 (NAP) Occupancy 89% ARD RANCHO VISTA BOULEV BUILDINGS DESCRIPTION

Year Built 1991, 2004 Gross Square Feet 55,438 SF Lot Size 280,353 SF Type of Ownership Fee Simple

*Vons, Rite Aid, ReMax, Burger King, El Pollo Loco, and Chevron are not a part of the offering.

8 9 Investment Highlights Rancho Vista Plaza has an excellent

DOMINANT DRUG AND GROCERY ANCHORED CENTER tenant mix including national tenants STRONG PALMDALE LOCATION ŠŠ Shadow anchored by a strong mix of national tenants include Vons, Rite ŠŠ Palmdale is an upper-middle class community located in Los Angeles County Aid, Burger King, El Pollo Loco, and Chevron such as Subway, MetroPCS, and Kumon ŠŠ Residents enjoy a comfortable hometown feel with a strong family orientation, ŠŠ Strong and stable tenant mix provides for steady customer flow, strong Learning Center. excellent education system and abundant recreational opportunities in a safe tenant synergy, and excellent crossover shopping options environment ŠŠ Center ideally serves the daily needs of the immediate residents ŠŠ Affluent neighborhood with an average household income upwards of $110,000 within a 3-mile radius ŠŠ High credit tenancy – strong mix of nationally recognized companies and regional retail tenants including Subway, State Farm Insurance, and ŠŠ Over 100,00 people in the immediate area Metro PCS ŠŠ Rancho Vista Plaza offers an ideal location that is proximate to residential and commercial density and is located at the gateway to Rancho Vista, a 1,300 acre master-planned community STABILIZED OPPORTUNITY WITH RENTAL UPSIDE ŠŠ Close proximity to Antelope Valley Mall as well as ŠŠ At 89% current occupant, there is a significant opportunity to increase Š net operating income through stabilization Š Palmdale employers include Lockheed Martin, Northrop Grumman, Boeing, and CarMax ŠŠ Stable cash flow with a well-seasoned tenant mix ŠŠ Close proximity to Rancho Vista Golf Course and Antelope Valley Country ŠŠ Tenants exemplify strong operating history Club ŠŠ 67% of the tenants have operated at this center for over 5 years DEVELOPMENT POTENTIAL ŠŠ Sale includes a 29,902 square foot parcel of undeveloped land WELL-MAINTAINED, HIGH QUALITY ASSET ŠŠ Parcel allows a multitude of development options ŠŠ Excellent visibility and frontage along Rancho Vista Boulevard ŠŠ Aesthetically pleasing center has been well-maintained and upgraded ŠŠ Tenants have grown and prospered at this location ŠŠ Convenient access and ample parking ŠŠ High customer traffic ŠŠ Positive business environment - National and local tenants complement each other in a synergistic manner to ideally serve the residents in the immediate area

10 11 Tenant Roster

LEASE UNIT TENANT SF TYPE 3007 Building Pad; not built 29,902 3011A New American Mortgage 1371 NNN 3011B Vacant 1990 3011D State Farm 975 NNN 3011E Home Smart Realty 2600 NNN 3011G Sam's Pizza 1300 NNN 3011H Subway 975 NNN 3011I Ozian Vwich 975 NNN 3011J Cigarette World 1625 NNN 3053A Silver Hanger Cleaners 1761 NNN 3053B Happy Nails & Spa 1073 NNN 3053C Eye Brow Boutique 975 NNN 3053D Shahin's Jewelry 975 NNN 3053E Metro PCS 975 NNN 3053F McCoy's Donut 975 NNN 3053G Vogue Studios 1159 NNN 3053H Avenue P Mail N More 975 NNN 3053I Kleen Sweep Pools 1797 NNN 3053J Warhammer 1388 NNN 3115B Johnart Real Estate 2730 NNN 3115C Water & More 975 NNN 3115D Aloha Shave Ice 1350 NNN 3115F Supercuts 1694 NNN 3115G Los Arcos 1251 NNN 3135A Vacant 1134 3135B Vacant 1125 3135C Kumon Math & Reading Center 1134 NNN 3135D The Pampered Pooch 1135 NNN 3135E All Care Pet Clinic 1686 NNN 3135F Dance Evolutions 2146 NNN 3135G Goldfish 2168 NNN 3135H Mana Restaurant 2179 NNN 3145A Dragon Hair Martial Arts 1594 NNN 3145C Go Tribe 2012 NNN 3167A Vacant 2083 3167D Rancho Wellness Center 5178 MG TOTAL 55,438

12 13 Site Plan

APN 3 APN 3 APN # 3001-097-018 3001-097-007 3001-097-002

APN # 3001-097-001

APN # 3001-097-011

RITE AID (NAP) VONS (NAP)

R A N C H APN # O V 3001-097-012 IS TA

BO U LE VA RD El Pollo Loco Burger (NAP) King (NAP) ReMax (NAP) Chevron (NAP)

14 15 Property Overview

LOCATION ZONING 3007, 3011, 3053, 3115, 3135, 3145, 3167 The property is situated on PDR3-C1* zoning. Rancho Vista Blvd, Palmdale, CA 93552 TRAFFIC COUNTS SITE Rancho Vista Boulevard: 25,765 vehicles per day The subject property is located on the northwest 30th Street W: 3,915 vehicles per day corner of 30th Street West and Rancho Vista Boulevard.

Ave. N SQUARE FOOTAGES The subject property has a total building square Palmdale Regional footage of 55,438 SF on a 280,190 SF lot. Airport Rancho Vista Golf FRONTAGE AND ACCESS Course Approximately 1485 feet of frontage on Rancho Vista Boulevard. Access is from Rancho Vista

10th West St. Antelope Valley Lockheed Boulevard and 30th Street W.

(14) Aerospace FWY Country Club Martin Rancho Vista Plaza YEAR BUILT The property was built in 1991 and 2004.

Antelope Valley Mall SITE BREAKDOWN Rancho Vista Blvd. Rancho Vista Blvd.

Palmdale APN ADDRESS LAND SF Marketplace Technology Drive 3001-097-001 3145-3167 Rancho Vista Blvd. 37,629 SF 3001-097-002 3135 Rancho Vista Blvd. 55,126 SF 3001-097-018 3115 Rancho Vista Blvd. 52,237 SF 3001-097-007 3053 Rancho Vista Blvd. 65,842 SF Elizabeth Lake Rd 3001-097-011 3011 Rancho Vista Blvd. 39,454 SF 3001-097-012 3007 Rancho Vista Blvd. 29,902 SF

Palmdale Blvd Total 280,190 SF 16 17 Major Tenants

State Farm is a group of insurance and financial services Kumon is an after-school learning center for children that MetroPCS is a prepaid wireless service in the United States that is Subway is a privately held American fast food restaurant franchise companies in the United States. The group's main business is specializes in math and reading programs for preschool part of T-Mobile US, Inc.. MetroPCS provides nationwide talk, text, that primarily sells submarine sandwiches (subs) and salads. It State Farm Mutual Automobile Insurance Company, a mutual students through the 12th grade. The company originated in and data depending on the plan services. is owned and operated by Doctor's Associates, Inc. Subway is insurance firm that also owns the other State Farm companies. Japan. Kumon was established in 1958 and began overseas one of the fastest-growing franchises in the world,with 44,882 The corporate headquarters are in Bloomington, Illinois. State expansion in 1974. Today, Kumon operates in 50 countries In October 2012, MetroPCS Communications reached an restaurants in 112 countries and territories. The United States Farm is ranked 44th in the 2013 Fortune 500, which lists and regions with over 16,000 centers in Japan and over 8,000 agreement to merge with T-Mobile USA, Inc., a deal that would alone has 26,646 outlets.It is the largest single-brand restaurant American companies by revenue. centers overseas. chain and the largest restaurant operator in the world. "help the competing provider become more competitive with the other National Carriers". The deal was a reverse merger for MetroPCS; following the closure of the merger on May 1, 2013, Type Mutual Type Private Type Private the combined company, now known as T-Mobile US, Inc., began Industry Insurance Industry Education Industry Restaurant trading on the New York Stock Exchange as TMUS. No. of Locations 30 operation centers, 343 claim offices No. of Locations 16,300 in Japan and 8,400 overseas No. of Locations 44,834 Website www.statefarm.com Website www.kumon.org Website www.subway.com Type Subsidiary Industry Telecommunications Owner T-Mobile Website www.metropcs.com

18 19 Financials

LEASE LEASE PRFORMA PFORMA LEASE LEASE PRFORMA PFORMA UNIT TENANT SF % RENT/MO RENT/MO/SF CAM CAM/SF LEASE TYPE UNIT TENANT SF % RENT/MO RENT/MO/SF CAM CAM/SF LEASE TYPE START EXPIRE RENT RENT/SF START EXPIRE RENT RENT/SF

3011A New American Mortgage 1371 2% 8/1/2016 7/31/2019 $2,056.60 $1.50 $864.00 $0.63 NNN 3115G Los Arcos 1251 2% 6/1/2009 5/31/2020 $2,426.94 $1.94 $788.00 $0.63 NNN 3011B Vacant 1990 4% $2,985.00 $1.50 NNN 3135A Vacant 1134 2% $1,701.00 $1.50 NNN 3011D State Farm 975 2% 4/1/2006 3/31/2022 $2,161.65 $2.22 $614.00 $0.63 NNN 3135B Vacant 1125 2% $1,687.50 $1.50 NNN 3011E Home Smart Realty 2600 5% 1/1/2018 12/31/2020 $2,600.00 $1.00 $1,300.00 $0.50 NNN 3135C Kumon Math & Reading 1134 2% 6/1/2015 5/31/2020 $1,503.82 $1.33 $714.00 $0.63 NNN 3011G Sam's Pizza 1300 2% 12/22/2001 12/31/2021 $3,241.05 $2.49 $819.00 $0.63 NNN 3135D The Pampered Pooch 1135 2% 4/13/2012 4/30/2019 $1,929.50 $1.70 $715.00 $0.63 NNN 3011H Subway 975 2% 12/1/1995 11/30/2020 $1,979.25 $2.03 $614.00 $0.63 NNN 3135E All Care Pet Clinic 1686 3% 12/24/2009 12/31/2019 $3,624.90 $2.15 $1,062.00 $0.63 NNN 3011I Ozian Vwich 975 2% 7/1/1993 6/30/2023 $2,778.75 $2.85 $614.00 $0.63 NNN 3135F Dance Evolutions 2146 4% 6/15/2007 9/30/2015 $3,186.94 $1.49 $995.00 $0.46 NNN 3011J Cigarette World 1625 3% 7/1/2015 6/30/2020 $3,792.72 $2.33 $1,024.00 $0.63 NNN 3135G Goldfish 2168 4% 3/2/2007 2/28/2022 $5,285.15 $2.44 $1,366.00 $0.63 NNN 3053A Silver Hanger Cleaners 1761 3% 1/13/1992 5/1/2028 $4,719.48 $2.68 $1,109.00 $0.63 NNN 3135H Mana Restaurant 2179 4% 8/3/2009 10/31/2022 $5,556.45 $2.55 $1,373.00 $0.63 NNN 3053B Happy Nails & Spa 1073 2% 11/1/2007 12/31/2018 $2,294.57 $2.14 $676.00 $0.63 NNN 3145A Dragon Hair Martial Arts 1594 3% 1/1/2011 6/30/2022 $2,072.20 $1.30 $1,004.00 $0.63 NNN 3053C Eye Brow Boutique 975 2% 12/1/2016 11/30/2018 $1,462.50 $1.50 $536.00 $0.55 NNN 3145C Go Tribe 2012 4% 2/1/2017 1/31/2022 $2,374.16 $1.18 $1,268.00 $0.63 NNN 3053D Shahin's Jewelry 975 2% 4/1/2016 3/31/2021 $1,762.90 $1.81 $501.00 $0.51 NNN 3167A Vacant 2083 4% $3,124.50 $1.50 NNN 3053E Metro PCS 975 2% 4/1/2014 3/31/2019 $1,425.77 $1.46 $614.00 $0.63 NNN 3167D Rancho Wellness Center 5178 9% 6/1/2005 10/31/2023 $7,000.00 $1.35 MG 3053F McCoy's Donut 975 2% 4/1/2001 3/31/2019 $2,534.22 $2.60 $614.00 $0.63 NNN Clutter Motors 0 6/23/2014 6/30/2014 $1,225.00 3053G Vogue Studios 1159 2% 3/1/2016 2/28/2021 $1,844.37 $1.59 $730.00 $0.63 NNN Vons #17 0 7/1/2009 7/31/2009 $8,502.00 3053H Avenue P Mail N More 975 2% 3/1/2002 7/31/2020 $2,045.58 $2.10 $614.00 $0.63 NNN Burger King 0 7/1/2009 7/31/2009 $568.00 3053I Kleen Sweep Pools 1797 3% 5/1/2011 4/30/2021 $2,357.62 $1.31 $1,132.00 $0.63 NNN El Pollo Loco 0 7/1/2009 7/31/2009 $536.00 3053J Warhammer 1388 3% 2/1/2018 1/31/2023 $1,540.68 $1.11 $832.00 $0.60 NNN Rite Aid #6400 0 7/1/2009 7/31/2009 $3,087.00 3115B Johnart Real Estate 2730 5% 8/1/2014 7/31/2019 $4,368.00 $1.60 $1,720.00 $0.63 NNN Chevron 0 7/1/2009 7/31/2009 $1,191.00 3115C Water & More 975 2% 7/1/2005 6/30/2019 $2,400.16 $2.46 $614.00 $0.63 NNN TOTAL 55,438 100% $88,737.28 $41,956.00 $9,498 3115D Aloha Shave Ice 1350 2% 6/10/2013 6/9/2018 $2,025.00 $1.50 $648.00 $0.48 NNN OCCUPIED SF: 49,106 SF 89% CURRENT NNN LEASES 91% 3115F Supercuts 1694 3% 12/5/1991 2/29/2020 $4,386.35 $2.59 $1,067.00 $0.63 NNN VACANT SF: 6,332 SF 1% MOD. GROSS LEASES 9%

20 21 Financials INCOME AND EXPENSE EXPENSES - CURRENT PROPERTY TAX INCREASE OCCUPANCY % Current % ProForma MANAGEMENT $54,353.53 Current Property Taxes $126,969 Scheduled Lease Income $1,054,913 $1,188,137 MAINTENANCE & REPAIRS Projected New Property Taxes $206,849 NNN Charges - Rentable SF $322,164 $388,352 Landscape $27,780.00 Increase in Property Taxes $79,880 NNN Charges - Common Area $181,308 $181,308 Landscape - Miscellaneous $19,421.50 % Responsible For Increased Property Taxes 73% OCCUPIED 89% Increase in Property Taxes $35,969 $35,969 Building Repairs & Maitenance Increased CAMS per New Taxes $58,258 VACANT 11% Electrical/Lighting $6,792.96 Effective Gross Income $1,594,354 $1,793,766 Exterior Painting Vacancy 5% $89,688 TENANTS NOT SUBJECT TO PROPERTY TAX INCREASE Pest Control $2,181.25 Expenses $579,486 $579,486 Aloha Shaved Ice 2% General Maitenance $867.72 Net Operating Income $1,014,869 $1,124,592 Parking Lot Repair $6,480.00 Dance Evolutions 4% Loan Payment $607,499 $607,499 TENANT LENGTH OF OCCUPANCY Plumbing $9,645.24 Rancho Wellness Center 9% Pre-Tax Cash Flow 8.4% $407,369 10.7% $517,092 Day Porter $29,632.00 Total 16% Principal Reduction $190,394 $607,499 Roof Maitenance $2,424.14 Total Return Before Taxes 12.4% $597,764 23.3% $1,124,592 Signage/Directory $10,542.04 PROPOSED FINANCING Steam Cleaning $19,457.00 Loan $8,443,500 Sweeping $22,800.00 Terms 25 year amortization 5+ YEARS 19% Trash Removal $57,799.64 Interest Rate 4.65% 10+ YEARS 47% Fire Alarm Monotoring $3,075.00 Fire Alarm - Phone $11,261.31 PRICING Fire Alarm - Other $9,002.89 Security Contract $37,054.00 Price $12,990,000 TOTAL MAINTENANCE & REPAIRS $276,216.69 Down Payment $4,546,500 AVERAGE UNIT SIZE UTILITIES Current CAP Rate 7.7 7% Water & Sewer - Common Area $12,659.35 ProForma CAP Rate 8.49% Building Utilities - Water $11,744.83 Cash-on-Cash Return 9.6% Electricity - Common Area $32,321.96 Total Return Before Taxes 13.6% TOTAL UTILITIES $56,726.14 0-2,000 SF 62% INSURANCE 2,000 SF + 38% Property Insurance $17,656.07 Liability Insurance $2,033.35 TOTAL INSURANCE $19,689.42 PROPERTY TAXES (1.25%) $162,375.00 TOTAL EXPENSES $613,834.96 22 23 Sales Comparables

CLOSE OF SALES COMPARABLES PRICE/SF # ADDRESS NAME SALES PRICE PRICE/SF BLDG SF LOT SF CAP RATE ESCROW $250.00 1759 W Avenue J12, 1759 W Avenue J12, 1 $7,725,000 $306.55 25,200 121,319 7.15% 8/18/2016 $231.80 Lancaster Lancaster

1004-1048 E Avene K, Challenger Plaza, 2 $3,200,000 $127.73 25,052 132,858 - 1/8/2016 $199.99 Lancaster Lancaster $200.00

44410-44600 Valley 3 Valley Central, Lancaster $23,219,569 $141.32 365,118 1,318,557 - 11/30/2016 $163.75 Central Way, Lancaster $161.34

$150.00 $141.32 42015 10th Street W, 4 - $6,000,000 $199.99 30,001 126,725 - 5/2/2016 $127.73 Lancaster $120.29

43629 15th Street W, 5 - $5,750,000 $161.34 35,639 144,876 - 10/13/2017 Lancaster $100.00

44130 20th Street W, 6 Depot Plaza $4,650,000 $231.80 20,060 77,293 7.00% 3/23/2017 Lancaster $50.00 1645 E. Palmdale Palmdale Shopping 7 $3,430,000 $120.29 28,515 126,603 7.50% 7/3/2017 Boulevard, Palmdale Center

AVERAGE $7,708,262 $163.75 84,064 321,152 7.25% $- 1004-1048 E 44410-44600 42015 10th Street 43629 15th Street 44130 20th Street 1645 E. Palmdale Average Avene K, Lancaster Valley Central W, Lanc aster W, Lanc aster W, Lanc aster Boulevard, Way, Lancaster Palmdale

24 25 Sales Comparables

1 2 3

2 5 4 1

Rancho 3 Vista Plaza

1004-1048 E AVENE K, 44410-44600 VALLEY CENTRAL 42015 10TH STREET W, ADDRESS ADDRESS ADDRESS LANCASTER WAY, LANCASTER LANCASTER Name Challenger Plaza, Lancaster Name Valley Central Name Sales Price $3,200,000 Sales Price $23,219,569 Sales Price $6,000,000 Price/SF $127.73 Price/SF $141.32 Price/SF $199.99 6 Bldg SF 25,052 Bldg SF 365,118 Bldg SF 30,001 Lot SF 132,858 Lot SF 1,318,557 Lot SF 126,725 CAP Rate CAP Rate CAP Rate Close of Escrow 1/8/2016 Close of Escrow 11/30/2016 Close of Escrow 5/2/2016

26 27 Sales Comparables

4 5 6

43629 15TH STREET W, 44130 20TH STREET W, 1645 E. PALMDALE BOULEVARD, ADDRESS ADDRESS ADDRESS LANCASTER LANCASTER PALMDALE Name Name Depot Plaza Name Palmdale Shopping Center Sales Price $5,750,000 Sales Price $4,650,000 Sales Price $3,430,000 Price/SF $161.34 Price/SF $231.80 Price/SF $120.29 Bldg SF 35,639 Bldg SF 20,060 Bldg SF 28,515 Lot SF 144,876 Lot SF 77,293 Lot SF 126,603 CAP Rate CAP Rate 7.00% CAP Rate 7.50% Close of Escrow 10/13/2017 Close of Escrow 3/23/2017 Close of Escrow 7/3/2017

28 29 Rent Comparables

RENTAL RENTAL # ADDRESS LEASE TYPE SPACE AVAIL BLDG SF RATE/YR RATE/MO RENT COMPARABLES RENT/SF

1 40125 10th Street W, Palmdale $15.00 $1.30 NNN 2,023 56,300 $3.00 $2.80

$2.50 2 39438 Trade Center Drive, Palmdale $16.80 $1.40 NNN 1,034 10,640 $2.50

550 West Rancho Vista Boulevard, 3 $21.0 00 $1.80 NNN 1,360 14,846 $2.00 Palmdale $1.80

$1.60

4 641 Palmdale Boulevard, Palmdale $13.2 00 $1.10 NNN 7,100 49,215 $1.50 $1.40 $1.30 $1.30

$1.10 $1.10 422 W Rancho Vista Boulevard, 5 $13.2 00 $1.10 NNN 9,200 100,000 $1.00 Palmdale $1.00

6 10th Street West, Palmdale $33.00 $2.80 NNN 30,616 91,617 $0.50

7 39331 10th Street W, Palmdale $30.00 $2.50 NNN 1,322 1,322 $0.00 40125 10th 39438 Trade 550 West 641 Palmdale 422 W Rancho 10th Street 39331 10th 801-853 West 445 W. Average Street W, Center Drive, Rancho Vista Boulevard, Vista Boulevard, West, Palmdale Street W, Palmdale Palmdale 801-853 West Palmdale Boulevard, 8 $15.00 $1.30 NNN 1,200 43,000 Palmdale Palmdale Boulevard, Palmdale Palmdale Palmdale Boulevard, Boulevard, Palmdale Palmdale Palmdale Palmdale

9 445 W. Palmdale Boulevard, Palmdale $12.00 $1.00 MG 1,200 3,600

AVERAGE $18.80 $1.60 6,117 41,171

30 31 Area Overview

PALMDALE, CALIFORNIA Palmdale is located approximately 60 freeway miles northeast of A number of world class corporations and manufacturing firms have made With low taxes, streamlined permitting, creative incentives, modern downtown Los Angeles in the high desert of the Antelope Valley. It has Palmdale home, helping to diversify the local economy. Delta Scientific, a business parks, and affordable costs, Palmdale is the ideal environment a population of 160,072. Palmdale is located in Los Angeles County, and world leader in high strength vehicle barrier systems, supplying protection to start and grow a business. The city offers Foreign Trade Zone status; the urbanized centers of Palmdale and Los Angeles are separated by for many federal, state and local buildings, and a prime supplier to the industrial development bonds; free job placement and training for the San Gabriel mountain range, which is about 40 miles (64 km) wide. military and US State Department for embassies and other installations employers and employees; and educational opportunities at AERO This range forms the southern edge of the Antelope Valley portion of worldwide, and US Pole, a major manufacturer of street lighting poles, Institute which addresses the need for technically skilled workforce and the Mojave Desert. Palmdale is the second largest city in the Antelope are major anchor tenants in the Fairway Business Park. The Palmdale STEM education at all levels. Valley, and the fifth largest city overall in the Mojave Desert by population, Trade and Commerce Center is home to many other major manufacturing, after Las Vegas, Henderson, North Las Vegas and Lancaster. Palmdale industrial, corporate offices and other employers, as well as home to the Palmdale offers a rich lifestyle, with diverse housing from starter homes is part of a twin city complex with its immediate northern neighbor Palmdale Auto Mall. A number of medical and related support offices are to luxurious executive estates and award winning schools. Palmdale Lancaster and together they are the principal cities within the Antelope coming on-line to meet the needs of the new Palmdale Regional Medical Regional Medical Center is recognized as the area’s premier healthcare Valley region and California’s High Desert. Center. provider, specializing in cardiology, emergency medicine, rehabilitation, advanced robotics, and bariatric treatment for chronic wounds. Palmdale refers to itself with the nickname the “aerospace capital of The Antelope Valley Mall is the preeminent retail shopping destination in the United States”, and has been the site of research, development, final the region, with a wide variety of dining choices on its restaurant row. Planning is underway to tie California’s High Speed Rail system with assembly, flight testing and/or servicing/modifications of the Space Palmdale Transportation Center to provide fast and easy travel to Shuttle, B-1 Lancer, X-15, B-2 Spirit, F-117 Nighthawk, F-35 Lightning II, downtown LA, the Bay Area and beyond. This regional multi-modal SR-71 Blackbird, Lockheed L-1011 Tristar, and many other aircraft that hub offers convenient connections to major ground transportation have been used in the United States Air Force, NASA and air forces and providers including Metrolink commuter rail, AVTA, Amtrak Thruway and airlines around the world. Palmdale is home to the following aerospace Greyhound. companies: Boeing, Lockheed Martin and its famed Skunk Works, and Northrop Grumman. LARGEST EMPLOYERS # OF EMPLOYEES MAJOR EMPLOYERS Edwards Air Force Base 10,808

China Lake Navel Weapons 9,172 Palmdale is home to the following County of Los Angeles 3,953 aerospace companies: Boeing, Lockheed Lockheed Martin 3,000 Martin and its famed Skunk Works, and Palmdale School District 2,682

Northrop Grumman. Antelope Valley Hospital 2,619

Northrop Grumman 2,573

32 33 DEMOGRAPHICS

1 MILE 3 MILES 5 MILES

2014 Population 10,372 44,098 107,084 2014 Households 3,097 13,737 34,742 1 3 5 2014 Average Household Size 3.33 3.22 3.09 MILE MILE MILE

2014 Daytime Population 799 10,405 30,554

2014 Owner Occupied Housing Units 84.39% 79.91% 63.61% $101,013 $99,607 $91,638 Average household income Average household income Average household income 2014 Renter Occupied Housing Units 15.61% 20.09% 36.39%

2014 Vacant 2.17% 4.15% 5.49%

2014 Median Household Income $85,692 $80,011 $62,548

2014 Per Capita Income $31,189 $32,503 $27,687

2014 Average Household Income $104,365 $104,270 $85,195

POINTS OF INTEREST SHOPPING 160,020 52,115 • Antelope Valley Mall • Antelope Valley Mall Palmdale Population Residential Units • Blackbird Airpark • Amargosa Commons • Cinemark Movie Theatres • The Marketplace • DryTown Water Park • Shops at Rancho Vista Gateway • Edwards Air Force Base • Destination O-Eight • Joe Davies Heritage Airpark • Rancho Vista Town Center • Palmdale Amphitheater • Palmdale Promenade • AVC Performing Arts Theatre • Palmdale Playhouse • Santa Clarita Performing Arts Center

34 35 BRANDON MICHAELS Senior Managing Director Investments Senior Director, National Retail Group Tel: (818) 212-2794 Fax: (818) 212-2710 [email protected] License: CA #01434685

BRANDON MICHAELS GROUP 36