FOR SALE INVESTMENT OFFERING MEMORANDUM 14546 HAMLIN STREET , 91411

CODY CHIARELLA MATTHEW HEYN CHALVIS EVANS KYLE BARRATT GERARD POUTIER CBRE, INC. First Vice President Executive Vice President Senior Vice President Senior Sales Director Sales Assistant 234 S Brand Blvd Lic. 01754878 Lic. 01306148 Lic. 01318400 Lic. 01900653 Lic. 02035565 Suite 800 +1 818 502 6730 +1 818 907 4619 +1 818 907 4635 +1 818 907 4650 +1 818 907 4629 Glendale, CA 91204 [email protected] [email protected] [email protected] [email protected] [email protected] EXECUTIVE SUMMARY

PROPERTY DESCRIPTION

The subject building is centrally located within the in Van Nuys. This professional office building is well suited for an owner-user and or investor looking for product in a dense urban location near many governmental type facilities.

INVESTMENT SUMMARY

Offering Price $4,800,000.00 ($185.29 psf)

Address 14546 Hamlin Street, Van Nuys CA 91411

Building Size ±25,905 sq. ft.

2018 NOI $248,204.53

Current Percentage 84% Leased

Parcel Numbers 2236-016-011, 2236-016-012

Zoning LACR

Land Use Office Building Gilmore Street

Van Nuys Boulevard Vesper Avenue Vesper PROPERTY HIGHLIGHTS

• Investment opportunity with rental upside Hamlin Street • Redevelopment/conversion opportunity

• Owner/user opportunity

• Strong urban demographics

• Immediately available

2 14546 HAMLIN STREET EXECUTIVE SUMMARY

AREA OVERVIEW

The San Fernando Valley

The San Fernando Valley (known locally and in surrounding areas as “The Valley”) is an urbanized valley located in the metropolitan area of , defined by the mountains of the circling it. The San Fernando Valley is +/- 260 square miles bounded by the to the northwest, the to the west, the and Chalk Hills to the south, the to the east, and the to the northeast. The northern Sierra Pelona Mountains, northwestern Topatopa Mountains, southern Santa Ana Mountains, and skyscrapers can be seen from higher neighborhoods, passes, and parks in the San Fernando Valley.

Nearly two thirds of the Valley’s land area is part of the City of Los Angeles and is home to 1.8 million people. The other incorporated cities in the Valley are Glendale, Burbank, San Fernando, Hidden Hills, and Calabasas.

3 14546 HAMLIN STREET EXECUTIVE SUMMARY

LOCATION

Van Nuys is bordered on the north by North Hills, on the northeast by Panorama City, on the east by Valley Glen, on the south by Sherman Oaks, on the southwest by the Sepulveda Basin, on the west by Lake Balboa and on the northwest by Northridge. Its street and other boundaries are Roscoe Boulevard on the north, Sepulveda Boulevard, the Tujunga Wash, Woodman Avenue and Hazeltine Avenue on the east, Oxnard Street on the south, the Sepulveda Basin on the southwest and Odessa and Hayvenhurst avenues and Balboa Boulevard on the west.

14546 HAMLIN STREET

4 14546 HAMLIN STREET EXECUTIVE SUMMARY

AERIAL MAP

14546 HAMLIN STREET

5 14546 HAMLIN STREET EXECUTIVE SUMMARY 14546 Hamlin St. Van Nuys, CA RETAIL AMENITIES MAP Retail Amenity Map

Sherman Way.

VAN NUYS

Vanowen St. VALLEY GLEN

SITE

Victory Blvd.

LOS ANGELES SUPERIOR COURT-

Sepulveda Blvd. Ave. Kester Nuys Blvd. Van VAN NUYS Hazeltine Ave. Ave. Woodman Fulton Ave. Oxnard St. Coldwater Canyon Ave.

Orange Line Busway

Burbank Blvd.

© 2014 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

6 14546 HAMLIN STREET EXECUTIVE SUMMARY

PROPERTY PHOTOS

7 14546 HAMLIN STREET RENT ROLL (AS OF 01/17/2019)

8 14546 HAMLIN STREET SALE COMPARABLES

Property Address Price/Sq. Ft. Sale Price GLA Sale Date Photo

Subject 14546 Hamlin Street $185.29 $4,800,000 25,905 For Sale Building Van Nuys CA 91411

10520-10520 1/2 Victory Blvd 1 $349.95 $642,500 1,836 5/25/2017 North CA 91606

14432-14434 Gilmore St 2 $324.46 $1,000,000 3,082 12/30/2016 Van Nuys CA 91401

14541 Hamlin St 3 $317.86 $890,000 2,800 10/14/2015 Van Nuys CA 91411

1122-1133 N Hollywood Way - Point 360 4 $306.25 $9,800,000 32,000 10/11/2016 Burbank CA 91505 Sold Comparables

14120 Victory Blvd 5 $295.86 $900,000 3,042 5/19/2017 Van Nuys CA 91401

8786 Van Nuys Blvd 6 $291.06 $840,000 2,886 9/20/2016 Panorama City CA 91402

14539-14547 Erwin St 7 $400.92 $3,500,000 8,730 For Sale Van Nuys CA 91411

14401 Gilmore St 8 $368.85 $2,295,000 6,222 For Sale Van Nuys CA 91401

5301 Laurel Canyon Blvd 9 $296.13 $5,100,000 17,222 For Sale Active Sales Comparables North Hollywood CA 91607

9 14546 HAMLIN STREET DEMOGRAPHIC COMPREHENSIVE

DEMOGRAPHICS14546 HAMLIN ST

PLACE OF WORK 1 Mile 3 Miles 5 Miles 10 Miles

Total Businesses 3,304 17,939 35,238 118,704 FULLDaytime RETAILEmployment (TotalREPORT Employees) 22,305 139,893 257,752 1,083,291

POPULATION

2016 Population 49,336 316,366 735,135 1,936,726 2021 Population 51,198 329,207 766,660 2,022,863 2010 Population 47,591 303,949 703,786 1,847,273 2000 Population 47,482 299,267 679,604 1,773,250 Percent Pop Change: 2010 to 2016 3.7% 4.1% 4.5% 4.8% Percent Pop Change: 2016 to 2021 3.8% 4.1% 4.3% 4.5%

AGE

2016 Population 4 9 , 3 3 6 3 1 6 , 3 6 6 7 3 5 , 1 3 5 1,936,726 Age 0 - 4 3,579 7.3% 21,127 6.7% 47,841 6.5% 108,492 5.6% Age 5 - 9 3,586 7.3% 21,444 6.8% 48,591 6.6% 111,965 5.8% Age 10 - 14 3,204 6.5% 19,471 6.2% 45,171 6.1% 106,968 5.5% Age 15 - 17 1,938 3.9% 11,678 3.7% 27,910 3.8% 67,854 3.5% Age 18 - 20 1,850 3.7% 11,074 3.5% 26,393 3.6% 76,861 4.0% Age 21 - 24 2,720 5.5% 16,087 5.1% 38,202 5.2% 105,394 5.4% Age 25 - 34 8,343 16.9% 52,174 16.5% 117,952 16.0% 314,650 16.2% Age 35 - 44 7,822 15.9% 50,086 15.8% 112,591 15.3% 289,445 14.9% Age 45 - 54 6,671 13.5% 43,616 13.8% 101,525 13.8% 268,153 13.8% Age 55 - 64 5,039 10.2% 34,613 10.9% 82,480 11.2% 226,694 11.7% Age 65 - 74 2,652 5.4% 20,206 6.4% 49,802 6.8% 145,065 7.5% Age 75 - 84 1,214 2.5% 9,658 3.1% 24,711 3.4% 76,134 3.9% Age 85+ 720 1.5% 5,131 1.6% 11,967 1.6% 39,049 2.0% 2016 Median Age 34.4 36.0 36.3 37.6 2016 Average Age 35.5 37.0 37.4 38.8

RACE AND ETHNICITY

2016 Population 4 9 , 3 3 6 3 1 6 , 3 6 6 7 3 5 , 1 3 5 1,936,726 White 25,867 52.4% 181,036 57.2% 417,777 56.8% 1,179,830 60.9% African American 2,498 5.1% 14,655 4.6% 30,955 4.2% 78,787 4.1% Asian 2,837 5.8% 27,785 8.8% 63,811 8.7% 206,630 10.7% Native Hawaiian/Pacific Islander 75 0.2% 421 0.1% 1,023 0.1% 2,445 0.1% American Indian/Alaska Native 433 0.9% 2,005 0.6% 4,745 0.6% 11,018 0.6% Some Other Race 15,612 31.6% 75,842 24.0% 181,923 24.7% 365,109 18.9% 2 or More Races 2,014 4.1% 14,621 4.6% 34,902 4.7% 92,908 4.8% 2016 Hispanic Population 31,779 64.4% 157,399 49.8% 376,635 51.2% 789,652 40.8% Not Hispanic/Latino, White 11,616 23.5% 110,730 35.0% 248,427 33.8% 810,840 41.9%

10 14546 HAMLIN STREET

©2016 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: Nielsen Page 1 ProjectID:115512 DEMOGRAPHICS DEMOGRAPHIC COMPREHENSIVE

FULL14546 RETAIL HAMLIN SREPORTT

HOUSEHOLDS 1 Mile 3 Miles 5 Miles 10 Miles

2016 Households 15,641 109,692 247,216 705,506 2021 Households 16,338 114,279 258,086 737,195 2010 Households 14,907 105,316 236,750 674,271 2000 Households 14,764 104,401 231,947 658,781 Percent HH Change: 2010 to 2016 4.9% 4.2% 4.4% 4.6% Percent HH Change: 2016 to 2021 4.5% 4.2% 4.4% 4.5% Average Household Size 3.1 2.9 3.0 2.7

HOUSEHOLD INCOME

2016 Households 1 5 , 6 4 1 1 0 9 , 6 9 2 2 4 7 , 2 1 6 7 0 5 , 5 0 6 Income < $15,000 2,560 16.4% 15,490 14.1% 31,191 12.6% 85,252 12.1% Income $15,000 - $24,999 2,557 16.3% 14,400 13.1% 28,341 11.5% 67,966 9.6% Income $25,000 - $34,999 2,335 14.9% 12,726 11.6% 25,491 10.3% 62,918 8.9% Income $35,000 - $49,999 2,442 15.6% 15,044 13.7% 33,550 13.6% 84,538 12.0% Income $50,000 - $74,999 2,415 15.4% 18,175 16.6% 41,466 16.8% 115,458 16.4% Income $75,000 - $99,999 1,335 8.5% 11,213 10.2% 27,331 11.1% 81,254 11.5% Income $100,000 - $124,999 833 5.3% 7,871 7.2% 19,350 7.8% 60,180 8.5% Income $125,000 - $149,999 407 2.6% 4,597 4.2% 11,702 4.7% 39,128 5.5% Income $150,000 - $199,999 344 2.2% 4,598 4.2% 11,962 4.8% 42,341 6.0% Income $200,000 - $249,999 151 1.0% 2,019 1.8% 5,341 2.2% 19,696 2.8% Income $250,000 - $499,999 191 1.2% 2,590 2.4% 7,455 3.0% 29,937 4.2% Income $500,000+ 70 0.4% 968 0.9% 4,037 1.6% 16,839 2.4%

2000 Average Household Income $39,168 $50,652 $58,454 $69,307 2016 Average Household Income $54,637 $69,937 $79,302 $91,251 2021 Average Household Income $58,744 $75,801 $86,067 $98,686 2000 Median Household Income $29,514 $36,287 $39,822 $45,611 2016 Median Household Income $36,888 $46,900 $52,569 $60,411 2021 Median Household Income $39,339 $50,207 $56,521 $65,002 2016 Per Capita Income $17,321 $24,249 $26,668 $33,241

RACE AND INCOME

White Median Income $36,181 $49,337 $55,684 $63,009 African American Income $36,515 $39,082 $45,799 $51,914 American Indian Income $52,631 $54,514 $54,285 $51,175 Asian Income $38,534 $61,257 $69,529 $74,876 Pacific Islander Income $82,347 $57,925 $56,795 $59,567 Other Race Income $36,785 $38,990 $42,348 $46,372 Two or More Races Income $40,839 $48,003 $54,276 $60,685 Hispanic Income $34,388 $38,923 $43,530 $48,155 Non Hispanic Income $40,758 $54,645 $60,736 $67,379

11 14546 HAMLIN STREET ©2016 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: Nielsen Page 4 ProjectID:115512 DEMOGRAPHICS

DEMOGRAPHIC COMPREHENSIVE

FULL14546 RETAIL HAMLIN SREPORTT

HOUSEHOLD SIZE 1 Mile 3 Miles 5 Miles 10 Miles

2016 Households 1 5 , 6 4 1 1 0 9 , 6 9 2 2 4 7 , 2 1 6 7 0 5 , 5 0 6 1-Person Household 3,662 23.4% 29,034 26.5% 62,955 25.5% 209,567 29.7% 2-Person Household 3,532 22.6% 28,441 25.9% 64,765 26.2% 199,097 28.2% 3-Person Household 2,715 17.4% 17,934 16.3% 39,290 15.9% 106,012 15.0% 4-Person Household 2,530 16.2% 15,800 14.4% 35,237 14.3% 90,666 12.9% 5-Person Household 1,665 10.6% 9,353 8.5% 21,226 8.6% 49,588 7.0% 6-Person Household 809 5.2% 4,711 4.3% 11,096 4.5% 24,189 3.4% 7+ Person Household 728 4.7% 4,418 4.0% 12,647 5.1% 26,389 3.7%

NUMBER OF VEHICLES

2016 Households 1 5 , 6 4 1 1 0 9 , 6 9 2 2 4 7 , 2 1 6 7 0 5 , 5 0 6 No Vehicles 2,280 14.6% 11,313 10.3% 21,003 8.5% 56,876 8.1% 1 Vehicle 6,599 42.2% 44,834 40.9% 92,428 37.4% 268,217 38.0% 2 Vehicles 5,027 32.1% 38,202 34.8% 90,075 36.4% 256,311 36.3% 3 Vehicles 1,211 7.7% 10,945 10.0% 29,516 11.9% 83,919 11.9% 4 Vehicles 337 2.2% 3,059 2.8% 9,636 3.9% 28,337 4.0% 5+ Vehicles 187 1.2% 1,338 1.2% 4,557 1.8% 11,845 1.7% Average Number of Vehicles 1.5 1.6 1.7 1.7

EMPLOYMENT STATUS

2016 Population Age 16 and Over 3 8 , 3 2 9 2 5 0 , 4 8 7 5 8 4 , 3 7 4 1,587,090 Civilian Labor Force, Employed Males 13,426 35.0% 84,066 33.6% 195,701 33.5% 520,706 32.8% Civilian Labor Force, Employed Females 9,747 25.4% 69,264 27.7% 158,871 27.2% 437,039 27.5% Males in Armed Forces 15 0.0% 70 0.0% 148 0.0% 343 0.0% Females in Armed Forces 22 0.1% 22 0.0% 28 0.0% 133 0.0% Civilian Labor Force, Unemployed Males 1,568 4.1% 10,369 4.1% 23,813 4.1% 60,553 3.8% Civilian Labor Force, Unemployed Females 1,750 4.6% 10,157 4.1% 22,583 3.9% 52,600 3.3% Males Not in Labor Force 4,436 11.6% 28,736 11.5% 68,975 11.8% 201,626 12.7% Females Not in Labor Force 7,366 19.2% 47,802 19.1% 114,253 19.6% 314,091 19.8%

CLASS OF WORKER

2016 Employed Population 2 3 , 1 0 7 1 5 3 , 0 2 8 3 5 3 , 5 9 3 9 5 5 , 3 8 7 Federal Government Worker 219 0.9% 1,278 0.8% 2,997 0.8% 8,914 0.9% Local Government Worker 751 3.3% 6,397 4.2% 16,515 4.7% 48,607 5.1% Private For-Profit Worker 17,530 75.9% 109,443 71.5% 247,512 70.0% 639,148 66.9% Private Non-Profit Worker 1,016 4.4% 8,374 5.5% 20,213 5.7% 61,042 6.4% Self-Emp Worker 3,159 13.7% 24,244 15.8% 58,744 16.6% 168,644 17.7% State Government Worker 407 1.8% 3,138 2.1% 7,197 2.0% 27,577 2.9% Unpaid Family Worker 25 0.1% 154 0.1% 414 0.1% 1,455 0.2%

12 14546 HAMLIN STREET

©2016 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: Nielsen Page 5 ProjectID:115512 THE LISTING TEAM AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

Affiliated Business Disclosure :: CODY CHIARELLA Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, First Vice President CBRE, Inc. operates within a global family of companies with many Affiliates or representatives make any representation or warranty, expressed Lic. 01754878 subsidiaries and/or related entities (each an “Affiliate”) engaging in a or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by +1 818 502 6730 broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, reason of your receipt of this Memorandum or use of its contents; and you [email protected] investment fund management and development. At times different are to rely solely on your investigations and inspections of the Property in Affiliates may represent various clients with competing interests inthe evaluating a possible purchase of the real property. :: MATTHEW HEYN same transaction. For example, this Memorandum may be received by our The Owner expressly reserved the right, at its sole discretion, to reject any Executive Vice President Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this or all expressions of interest or offers to purchase the Property, and/or to Lic. 01306148 Memorandum (the “Property”) may submit an offer to purchase the Property terminate discussions with any entity at any time with or without notice +1 818 907 4619 and may be the successful bidder for the Property. You hereby acknowledge which may arise as a result of review of this Memorandum. The Owner that possibility and agree that neither CBRE, Inc. nor any involved Affiliate shall have no legal commitment or obligation to any entity reviewing this [email protected] will have any obligation to disclose to you the involvement of any Affiliate Memorandum or making an offer to purchase the Property unless and in the sale or purchase of the Property. In all instances, however, CBRE, Inc. until written agreement(s) for the purchase of the Property have been fully :: CHALVIS EVANS will act in the best interest of the client(s) it represents in the transaction executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. Senior Vice President described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of Lic. 01318400 any other offeror or prospective offeror, but rather will conduct its business By receipt of this Memorandum, you agree that this Memorandum and its +1 818 907 4635 in a manner consistent with the law and any fiduciary duties owed to the contents are of a confidential nature, that you will hold and treat it in the [email protected] client(s) it represents in the transaction described in this Memorandum. strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum :: KYLE BARRATT or any of its contents in any manner detrimental to the interest of the Owner Senior Sales Director Confidentiality Agreement or CBRE, Inc. Lic. 01900653 This is a confidential Memorandum intended solely for your limited use and If after reviewing this Memorandum, you have no further interest in +1 818 907 4650 benefit in determining whether you desire to express further interest in the purchasing the Property, kindly return this Memorandum to CBRE, Inc. [email protected] acquisition of the Property.

:: GERARD POUTIER This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Disclaimer Sales Assistant Property or the owner of the Property (the “Owner”), to be all-inclusive or Lic. 02035565 to contain all or part of the information which prospective investors may © 2018 CBRE, Inc. The information contained in this document has been +1 818 907 4629 require to evaluate a purchase of real property. All financial projections obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty [email protected] and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, or representation about it. It is your responsibility to independently confirm competition and other factors beyond the control of the Owner and CBRE, its accuracy and completeness. Any projections, opinions, assumptions or Inc. Therefore, all projections, assumptions and other information provided estimates used are for example only and do not represent the current or and made herein are subject to material variation. All references to future performance of the property. The value of this transaction to you acreages, square footages, and other measurements are approximations. depends on tax and other factors which should be evaluated by your :: CBRE, INC. Additional information and an opportunity to inspect the Property will be tax, financial and legal advisors. You and your advisors should conduct 234 S Brand Blvd made available to interested and qualified prospective purchasers. In this a careful, independent investigation of the property to determine to your Suite 800 Memorandum, certain documents, including leases and other materials, satisfaction the suitability of the property for your needs. Glendale, CA 91204 are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries www.cbre.com/lanorth and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. FOR SALE 14546 HAMLIN STREET VAN NUYS, CALIFORNIA 91411

THE LISTING TEAM

:: CODY CHIARELLA First Vice President Lic. 01754878 +1 818 502 6730 [email protected]

:: MATTHEW HEYN Executive Vice President Lic. 01306148 +1 818 907 4619 [email protected]

:: CHALVIS EVANS Senior Vice President Lic. 01318400 +1 818 907 4635 [email protected]

:: KYLE BARRATT Senior Sales Director Lic. 01900653 +1 818 907 4650 [email protected]

:: GERARD POUTIER Sales Assistant Lic. 02035565 +1 818 907 4629 [email protected]

:: CBRE, INC. 234 S Brand Blvd Suite 800 Glendale, CA 91204

14 14546 HAMLIN STREET www.cbre.com/lanorth