Park Street Landing Unsubordinated Ground Lease

*THIS IS A GROUND LEASE, IMPROVEMENTS NOT INCLUDED

NOR PARK STREET LANDING UNSUBORDINATED GROUND LEASE

ALAMEDA, CA 3.55 ACRE GROUND LEASE INCLUDES A MULTI-SLIP MARINA WITH A 38,000 SF LEASEHOLD SHOPPING CENTER (NOT INCLUDED) WHICH EXPIRES 3/26/2039 2 Overview

PARK STREET LANDING GROUND LEASE

2327 BLANDING AVE, ALAMEDA, CA 94501

$10,000,000 1.11% PRICE CAP

NOI LOT SIZE (AC) LEASE EXPIRATION $110,688 3.55 AC 3/26/2039

MARINA SIZE LOT SIZE (SF) TOTAL SF 59,677 SF 154,638 SF 214,315 SF

• Irreplaceable Bay Area real estate - a generational asset • 39,944 SF of shopping center improvements is not a part of the Ground Lease offering • Center is on approximately 3.55 acres of land and includes a multi-slip marina • Hard corner location along Blanding Avenue and Park Street, with one of the highest traffic counts in Alameda of 34,000 VPD • There are 478,436 residents within a 5-mile radius with average household incomes exceeding $96,000 • Picturesque visibility just off of the Park Street Bridge -- a This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. 3 Buyer must verify the information and bears all risk for any inaccuracies. main access point to Alameda Investment Highlights Contact the THE OFFERING provides an opportunity for an investor to acquire an unsubordinated ground lease with long term upside in both reversion and redevelopment. The property is team located at a gateway location to the top retail corridor of Park Street in Alameda. Included is 154,638 SF of land plus an additional 59,677 SF of marina area. The leasehold shopping DAVE LUCAS center (not a part of the offering) is an approximately 40,000 SF shopping center tenanted [email protected] by a mix of local and national tenants including O’Reilly Auto Parts and Dollar Tree. The PH: 415.274.7390 adjacent property is a 9-acre residential development that will boast over 200 town- CA DRE# 01389761 homes and a major apartment development. When completed, the project will present an excellent blueprint for potential redevelopment of Park Street Landing when the leasehold ownership reverts to the control of the ground lease owner in 19 years. RICK SANNER [email protected] ALAMEDA is a growing and innovative city within the San Francisco Bay Area with an PH: 415.274.2709 estimated population of 78,338 residents. The Historic Park Street Business District is the CA DRE# 01792433 main retail corridor on the island and one of the premier retail trade areas in the Bay Area. The high barriers to entry on the infill island of Alameda continue to increase value of both existing property and developable land. The north side of the island has recently experienced significant redevelopment of the former Naval Air Station including new construction in housing, office and retail.

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

4 MIDDLE SCHOOL Aerial GRAND ELEMENTARY MARINA SCHOOL

880 211,000 ALAMEDA VPD 21,691 YACHT MARINA CLUB VPD

29TH SAN AVENUE

ELEMENTARY FRANCISCO SCHOOL (14 MILES)

11,082 SCHOOL LINCOLN AVENUEVPD BLANDING AVENUE

34,385 VPD

FRUITVALE AVENUE ELEMENTARY 13,757 61 SCHOOL 880 PARK STREET VPD ENCINAL AVENUE CITY OF 5,656 ALAMEDA TILDEN WAY VPD MARINA DRIVE

CITY OF ALAMEDA HIGH CITY OF ALAMEDA ELEMENTARY SCHOOL SCHOOL ALAMEDA HOSPITAL

PARK ENCINAL AVENUE STREET 25,200 VPD

RETAILERS IN CLOSE PROXIMITY INCLUDE: 7-Eleven FoodMaxx Round Table Pizza AT&T GameStop Starbucks AutoZone Jack in the Box The Home Depot Chevron McDonald’s UPS Store Cricket Wireless Nob Hill Foods Verizon CVS Papa Murphy’s Walgreens Domino’s Pizza Peet’s Coffee Wendy’s El Pollo Loco Pet Food Express Wingstop

EMERYVILLE BUSINESS SUMMARY

OAKLAND TOTAL 1-MILE 3-MILES 5-MILES

Businesses 1,779 10,238 18,258

Employees 14,357 105,594 191,762 ALAMEDA Residential 33,379 262,581 478,436 Population

SAN LEANDRO KEY 1-MILE 3-MILES 5-MILES 6 Subject Property

7 Income & Expense PRICE $10,000,000 Capitalization Rate: 1.11% Lot Size (AC): 3.55 Lot Size (SF): 154,638 Marina Size (SF): 59,677 Total SF: 214,315 STABILIZED INCOME PER SQUARE FOOT Scheduled Rent $0.72 $110,688 Effective Gross Income $0.72 $110,688 LESS PER SQUARE FOOT Taxes NNN Paid by leasehold

Insurance NNN Paid by leasehold Total Operating Expenses NNN Paid by leasehold EQUALS NET OPERATING INCOME $110,688

TENANT INFO LEASE TERMS RENT SUMMARY

CURRENT MONTHLY YEARLY TENANT NAME SQ. FT. YEARS RENT RENT RENT

Ground Lease 154,638 3/27/2019 - 3/26/2024 $110,688 $9,224 $110,688

3/27/2024 - 3/26/2029 Increases based on CPI

3/27/2029 - 3/26/2034 Increases based on CPI

3/27/2034 - 3/26/2039 Increases based on CPI

No options to extend

TOTALS: 154,638 $110,688 $9,224 $110,688

OAK STREET

39,944 3.55 125+ ACADEMY AVAILABLE AVAILABLE INDUSTRIES M&M ANTIQUES HANSEN RIGGING LIM’S TAEKWONDO LIM’S TAEKWONDO RENTABLE SF ACRES SPACES COUNTY ALAMEDA (NOT INCLUDED) (NOT INCLUDED)

PARK STREET LANDING 211,000

VPD 880 TIDAL CANAL TIDAL

INAIL SPA

A-1 VACUUM & SEWING PARK STREET PARK STREET BRIDGE H&R BLOCK 29TH AVENUE ISALON

34,385 A-TOWN PIZZA VPD 21,691 AVAILABLE VPD BLANDING AVENUE

BLANDING AVENUE DRAGON ROUGE VIETNAMESE BISTRO

880

PYLON SIGN PARK STREET FRUITVALE AVENUE PARK STREET BRIDGE

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 11 Ground Lease Abstract EXPENSES TENANT’S OBLIGATIONS Lessee shall repair and maintain the leased premises. TAXES PREMISES Lessee shall pay all taxes. & TERM INSURANCE Lessee at its sole cost and expense have fire and extended coverage and comprehensive general TENANT Leasehold Shopping Center Owner liability insurance. LEASE TYPE Ground Lease UTILITIES TERM 55 Years (Lease dated March 27, 1983) Lessee is responsible for all. REMAINING TERM 19 Years

LEASE ASSIGNMENT/SUBLETTING Lessee may sublet without Landlord’s consent. RENT PROVISIONS Lessee needs Landlord’s consent for assignment. REVERSION Until the expiration or earlier termination of this lease, any and all buildings or improvements on the leased BASE RENT premises shall be the property of Lessee, and Lessee DATE RANGE MONTHLY RENT ANNUAL RENT shall have the right to claim depreciation thereon. From and after expiration or earlier termination of 3/27/2019 - 3/26/2024 $9,224 $110,688 this lease, any and all improvements on the leased 3/27/2024 - 3/26/2029 Increases based on CPI premises shall be the property of the Lessor. 3/27/2029 - 3/26/2034 Increases based on CPI RIGHT OF FIRST REFUSAL 3/27/2034 - 3/26/2039 Increases based on CPI Lessee has within ten (10) business days following receipt of an offering notice, to accept the purchase offer in his own name, for the purchase price and on the terms and conditions specified in such offering notice. If Lessee exercises his right of first refusal, the purchase shall be consummated within thirty days (30) after Lessee exercises his right or within such longer period specified by Lessor, but in no event later than any outside closing date specified in the offering notice. GROSS RENT RECORDING The details contained within the Lease Abstract are provided as a courtesy to the recipient for purposes of evaluating the Property’s suitability. While every effort is made to accurately reflect the terms of the Annual. lease document(s), many of the items represented herein have been paraphrased, may have changed since the time of publication, or are potentially in error. Capital Pacific and its employees explicitly disclaim any responsibility for inaccuracies and it is the duty of the recipient to exercise an independent due diligence investigation in verifying all such information, including, but not limited to, the actual lease 12 document(s). Demographics RICHMOND

POPULATION 1-MILE 3-MILES 5-MILES 2010 30,945 246,795 445,714 2018 33,379 262,581 478,436 BERKELEY 2023 35,408 275,471 504,955

OAKLAND 2018 HH INCOME 1-MILE 3-MILES 5-MILES SAN Average $98,022 $90,053 $96,422 FRANCISCO ALAMEDA Median $118,828 $108,155 $113,825

SAN LARGEST EMPLOYERS IN ALAMEDA COUNTY LEANDRO EMPLOYER # OF EMPLOYEES Kaiser Permanente 12,150

Alameda County 4,500

City of Oakland 3,500 BART (Bay Area Rapid Transit) 3,300 THE AVERAGE HOUSEHOLD UCSF Children’s Hospital Oakland 2,675 INCOME WITHIN A 5-MILE RADIUS IS OVER $96K

PORT OF OAKLAND

ALAMEDA is a small, family-friendly city located ALAMEDA COUNTY includes the East Bay cities of Alameda, on Alameda Island and Bay Farm Island in the San Berkeley, Emeryville, Fremont, Hayward, Livermore, Oakland, Francisco Bay. Oakland and the Port of Oakland are Pleasanton, and Union City. Its largest city is Oakland, and it is adjacent to the island’s north shore. Three bridges (Park home to the Port of Oakland, the fourth-busiest container port in Street, Fruitvale Avenue, and High Street Bridges), as the United States. Alameda County has a population of 1.6 million well as two one-way tunnels -- Posey and Webster Street people and a total of 770,400 jobs. Like most of the Bay Area, the Tubes -- provide vehicle access connecting Alameda to Alameda County economy is creating jobs at a rapid rate, with a downtown Oakland. The island also has ferry access below average unemployment rate of 3.0%. to Oakland’s Jack London neighborhood and the Ferry Building in San Francisco. 1.66 MILLION This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or Alameda’s waterfront offers beaches, bird refuges, and implied, as to the accuracy of the information. ALAMEDA COUNTY Buyer must verify the information and bears all spectacular views of the San Francisco skyline and the risk for any inaccuracies. POPULATION East Bay hills. (ESTIMATED) 14 Alameda Point

THE FORMER NAVAL AIR STATION (NAS) ALAMEDA is located on the western tip of the island and is now commonly referred to as Alameda Point. The former NAS Alameda consisted of approximately 2,806 acres of land, including submerged acreage. Comprised of a large airfield, docks for aircraft carriers such as the USS Hornet, and extensive manufacturing facilities, Alameda’s naval air station was one of the largest and most complete naval air stations in the world. The Naval Air Station ceased operations in the late 1990’s, and approximately half of the land was transfered to the City of Alameda in 2013.

TODAY ALAMEDA POINT is home to a vibrant mix of businesses and open spaces. “Spirits Alley” features numerous award- winning wineries, distilleries and brewery taprooms, including Rock Wall Wine Company, Fraction Brewing, Hangar 1 Vodka, St. George Spirits, and Building 43 Winery.

Once a month, Alameda hosts the Alameda Point Antiques Faire, which takes place on the former airfield. The faire includes more than 800 dealer booths and attracts over 10,000 shoppers making it the largest antique market in Northern California.

THE CITY IS PLANNING MAJOR REDEVELOPMENT of

Alameda Point, which will include a new mixed-use, transit OAKLAND INNER HARBOR oriented community, including 1,425 housing units, 5.5 million OPEN SPACE square feet of commercial space, and over 200 acres of parks

and open space. It will maximize waterfront access and views, MAIN STREET NEIGHBORHOOD generate thousands of jobs, provide a mix of housing types ADAPTIVE REUSE for all incomes, preserve historic buildings, protect a sensitive WATERFRONT habitat for local wildlife and create unparalleled shoreline park TOWN CENTER

and open space opportunities. SEAPLANE LAGOON SAN FRANCISCO BAY ENTERPRISE This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed 15 or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. OPEN SPACE Bay Area

GENERAL STATS THE SAN FRANCISCO BAY AREA consists of nine counties in Northern California centered around the San Francisco Bay, San 2ND LARGEST METRO AREA IN CALIFORNIA Pablo Bay, and Suisun Bay. The Bay Area is often divided into five sub-regions: the East Bay, North Bay, South Bay, Peninsula, 3RD LARGEST METRO ECONOMY IN THE U.S. and the city of San Francisco. 7.75 MILLION RESIDENTS THE EAST BAY, while not strictly defined, generally consists 19TH LARGEST ECONOMY IN THE WORLD of cities and communities in Alameda and Contra Costa BY GDP counties, including Alameda, Oakland, Berkeley, Richmond, Fremont, Hayward, Walnut Creek, and Concord. In addition to 50+ BAY AREA COLLEGES AND UNIVERSITIES housing the largest port in Northern California and serving as BAY AREA CITIES REPRESENT 10% OF THE one of the West Coast’s major transportation hubs, the region COUNTRY’S MOST LIVABLE CITIES is headquarters to a number of highly notable businesses, including Pixar, Kaiser Permanente, Chevron, and Safeway. 122 MILES BART TRACK CONNECTING THE BAY AREA

SAN FRANCISCO

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed 16 or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. We’d love to hear from you.

DAVE LUCAS RICK SANNER [email protected] [email protected] PH: 415.274.7390 PH: 415.274.2709 CA DRE# 01389761 CA DRE# 01792433

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:

ZEB RIPPLE CHRIS KOSTANECKI CHRIS PETERS

JOHN ANDREINI JOE CACCAMO DAVE LUCAS

JUSTIN SHARP RICK SANNER JACK NAVARRA

ZANDY SMITH JUSTIN STARK