Willow Lane Westlake Village, Ca

NNN INDUSTRIAL / R&D INVESTMENT

CORPORATE ID #01191898 3500 WILLOW LANE WESTLAKE VILLAGE, CA

MIKE TINGUS, President GRANT FULKERSON, SIOR, Managing Director 818.223.4380 | [email protected] | www.MikeTingus.com 818.449.4401 | [email protected] | www.Fulkerson-RE.com BRE # 01013724 BRE # 01483890

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. 3500 Willow Lane, Westlake Village, CA NNN INDUSTRIAL / R&D INVESTMENT

INVESTMENT HIGHLIGHTS LEASE DETAILS

Rents approximately 25% below market Tenant: Easton Diamond Sports, LLC Assumable $7,000,000 loan at 3.75% Original Building Size: ±111,703 SF Approximately 7 years remaining on term Current Building Size: ±104,267 SF ±$10,000,000 of building upgrades and improvements completed in 2016 Base Rent: $95,196.02 per month NNN ($0.91 PSF) Extremely low market vacancy rates (±2%) Starting January 1, 2019 Rental Increases: Three Percent (3%) Annually Option to Extend: Two (2) Options to Renew for five (5) years each at Fair Market Value (FMV) INVESTMENT OFFERING (See Option(s) to Extend Addendum for FMV area limitations) NOI: $1,142,352.24 + Parking Income Sale Price: $21,759,090.29 Lease Commencement Date: January 1, 2016 Cap Rate: 5.25% Lease Expiration Date: May 31, 2026 Lease Type/Form: AIR Commercial Real Estate Association Standard Industrial/Commercial Single- Tenant Lease - Net INVESTMENT SUMMARY 3500 Willow Lane was purchased in 2015 and immediately leased to Easton Baseball/Softball, Inc. Approximately $10 million in upgrades and improvements were completed in 2016. The subject property is strategically located along Highway 101 in an area with outstanding demographics. The immediate market area contains only 4.4 million square feet of industrial/R&D product with significant barriers to entry which is largely responsible for the low vacancy rates currently hovering around three percent.

ABOUT THE TENANT BUILDING HIGHLIGHTS The company was founded in 1922 initially as an archery equipment Outstanding Freeway Identity Abundant Parking manufacturer by enthusiast Doug Easton. Baseball equipment came into play (175,000 Cars Per Day) Passenger & Freight Elevators in the late 1960s, and in the 1990s, Easton’s son, Jim Easton, expanded the Heavy Power of 7,000 Amps company into hockey and cycling. Dock High & Ground Level Loading 100% HVAC In 2006, Jim Easton sold the company for $400 million to private equity firm Newly Improved Fenway Partners. Easton joined Fenway’s stable of other sporting goods manufacturers, including football equipment maker Riddell Sports Group and Bell Sports, which produces helmets for bicycles and motor sports. The three combined sporting goods makers became Easton-Bell Sports Inc., BUILDING SPECIFICATIONS and expanded again in 2010 to acquire Talon Lacrosse. Building Size: 104,267 Square Feet Easton is the world’s leading manufacturer of baseball and softball equipment Parcel Size: 5.42 Acres and the most iconic brand in these sports. Headquartered in Westlake Village, Zoning: M1 CA, Easton Baseball/Softball manufactures bats, ball gloves, apparel, bags, Loading: (2) Ground Level / (2) Dock High batting gloves, helmets, catcher’s equipment and related accessories. The Company’s commitment to innovation and game-changing technologies drove Clear Height: 24 Feet its growth to the No. 1 position, including the introduction of the first true Power: ±7,000 Amps aluminum bat in 1972. As a result of this commitment to R&D and its storied Parking: 355 Stalls (3.5/1,000) brand heritage, Easton has long-standing relationships with the Little League World Series, professional sports organizations and NCAA collegiate teams. Elevator: Passenger & Freight

MIKE TINGUS, President GRANT FULKERSON, SIOR, Managing Director 818.223.4380 | [email protected] | www.miketingus.com 818.449.4401 | [email protected] | www.fulkerson-re.com BRE # 01013724 BRE # 01483890

LOCATION HIGHLIGHTS and North Ranch communities. Significant companies are headquartered in the Conejo Valley including Amgen, Baxter, Dole Food Co., Jafra Cosmetics, 3500 Willow Lane is located in the affluent Conejo Valley which connects the Guitar Center, PennyMac and the tenant of the subject property, Easton Baseball/ Los Angeles and Ventura Counties. The subject property is situated in Ventura Softball. The area also contains numerous prestigious schools including Oaks County which attracts companies from Los Angeles because of their beneficial Christian and Westlake Highschool, prominent golf courses including Sherwood tax rates and is not encumbered by the new increased minimum wage scales in and North Ranch Country Clubs and numerous retail amenities including the LA County. Many executives live in the region including the prestigious Sherwood Westlake Four Seasons.

LOCAL MARKET DYNAMICS Many global and national tenants have located their national or regional headquarters in Westlake Situated on the western edge of Los Angeles Village due to the area’s highly qualified labor County in the foothills of the Santa Monica pool, excellent amenity base, and abundance of Mountains, Westlake Village, California is executive and employee housing options. recognized as one of America’s most affluent suburban locations and finest areas to live, work, Major corporate neighbors in the submarket and raise a family. Westlake Village is home to include General Dynamics, Baxter, Amgen, Jafra, one of the most affluent demographics in Los intuit, Dole, J.D. Power, Guitar Center, Securitas, Angeles County, with an average household move.com, Blue Cross of California and iPayment. income in excess of $150,000. Consistently ranked as one of the safest and most family- The Westlake Village industrial market is the most expensive, but also the most desirable, friendly cities in the nation, Westlake Village historically outperforms the Conejo Valley, industrial submarket in the larger region because of supply/demand and superb San Fernando Valley and Ventura markets in both rents and occupancy. demographics. the subject’s select market area is comprised of under 4.5 million square feet and less than 2% vacancy There has been a significant migration of residents and tenants from both the San Fernando Valley and Los Angeles to Westlake Village in the past 15-20 years. The Westlake Village submarket is a popular destination due to the high quality of lifestyle, first-choice housing options, coastal climate, competitive occupancy costs, desirable school systems, and secure environment with low crime rates. Westlake Village also offers a multitude of desirable amenities including shopping, arts, sports, dining, and entertainment. Westlake Village has approximately 8,300 residents, but only 6% of these residents work in Westlake Village. 31% of the residents work in Los Angeles and 15% are employed in Thousand Oaks. More than 25% of the population is between 35 and 54 years of age. 82% of the population is Non-Hispanic White and 13% is either Hispanic or Asian. There are approximately 850 commercial and light industrial businesses in Westlake Village. The area is home to 8,960 jobs, up from 8,690 in 2010. Nearly 30% of these jobs are finance related and the next largest sectors are Professional (26%), Education (9%), Leisure (8%), and Retail (7%).

AREA DESCRIPTION The western portion of Westlake Village is a community, within the city limits of Thousand Oaks, in Ventura County. The properties and businesses Westlake Village is a planned community that straddles the Los Angeles in this portion can be addressed as “Westlake Village”, as the U.S. Post and Ventura County line. The eastern portion is the incorporated city of Office maps both 91361 and 91362 ZIP codes to this area. Westlake Westlake Village, located on the western edge of Los Angeles County. Village is home of Dole Headquarters; other major employers in the area The city, located in the region known as the Conejo Valley, encompasses include Amgen, Inc., and the Bioscience Division of Baxter Healthcare half of the area surrounding Westlake Lake, and small neighborhoods Corporation; the top two international leaders in the biotechnology field; primarily south of U.S. Route 101 and east of La Venta Drive. Westlake General Dynamics Corporation, a leader in international high technology; Village is known for its affluence and secluded character, and is considered Jafra Cosmetics, an international cosmetics company; WellPoint Health one of the wealthiest communities in the Greater Los Angeles Area with Networks, Inc., one of the nation’s largest publicly-traded managed care an average household income of over $150,000 per year within 1 mile of companies; General Motors Regional Office, and Verizon’s Regional the subject property. Office.

FIRST FLOOR PLAN MATCH LINE 3500 Willow Lane, Westlake Village, CA NNN INDUSTRIAL / R&D INVESTMENT MATCH LINE MATCH LINE

SECOND FLOOR PLAN MATCH LINE MATCH LINE 3500 Willow Lane, Westlake Village, CA NNN INDUSTRIAL / R&D INVESTMENT

CONTACT: Mike Tingus President 818.223.4380 [email protected] www.MikeTingus.com Lic # 01013724

Grant Fulkerson, SIOR Managing Director 818.449.4401 [email protected] www.Fulkerson-RE.com Lic # 01483890

Please note, Mike Tingus is owner of the subject property.

Lee & Associates® - LA North/Ventura, Inc. Corporate ID #01191898 A Member of the Lee & Associates Group of Companies 26050 Mureau Road, Suite 101 Calabasas, CA 91302 818.223.4388 | 818.591.1450 www.lee-associates.com No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.