150EAST COLORADO

CLASS “A” 62,286 SF OFFICE INVESTMENT OPPORTUNITY LOCATED IN ONE OF THE MOST DESIRABLE LOCATIONS IN OLD TOWN PASADENA N TECH RETAIL

Anthropologie J.Crew Sushi Roku

Design Accelerator

Honey New Matter Sellbrite UberMedia

X1 Discovery IdeaLab • 150 Companies Created • 40 IPOS & Acquisitions Chime.in Guidance Software DrivenBI Paper Source Punchcard Acero Urban Outfitters Solutions Forever 21 Starbucks BJ’s Restaurant & Brewhouse 150EAST COLORADO Lawry’s DoneRight WeWork BCBG Leftronic West Elm Brighton Collectibles COLORADO BLVD. J.Jill Tommy Bahama Interpolls Brookstone Orange Bath & Body Works Adapt Tech Equity Victoria Secret Chico’s Alfigen Banana Republic GNC Lucky Brand Jeans Walla.by Madewell Zara Lou & Grey Steve Madden COLORADO BLVD. Kabuki Japanese Restaurant Le Pain Quotidien Tiffany & Co. H&M Apple Store Arcturus Capital ABS Clothing Collection Spokeo • 170 Years of Venture Capital • 100 Ventures Athleta • 22 IPOs Cotton On • 38 M&As 2 executive summary square Holliday Fenoglio Fowler, L.P. (“HFF”), as exclusive advisor, is pleased 62,286 feet to present the opportunity to acquire a fee simple interest in 150 East (the “Property”), a 62,286 square foot institutional quality, boutique office building located in Pasadena, . Currently 89.3% leased to a diverse rent roll, the Property will allow an investor to IN-PLACE RENTAL RATES realize significant near term upside as over 40% of leased square footage expires over the next three years with in-place rents more than 10% BELOW below current market rates.

The Property’s locality in the heart of the vibrant Old Town Pasadena +10% MARKET market provides tenants direct access to numerous high-end walkable retail and dining options. Prominently located near key arteries and public transportation, the Property is well-positioned to capitalize on the robust leasing activity in the prime Colorado Boulevard leasing corridor. MILLION SF OF RETAIL AMENITIES 150 E. COLORADO OVERVIEW 23.7 within 5 miles 150 East Colorado Boulevard Address Pasadena, CA 91105 Net Rentable Area (SF) 62,286 SF

Percentage Leased 89.3% WALKER’S PARADISE Average Floor Plates 20,762 Year Built 1979 WALK Site Area 1.51 Acres Parking Stalls 129 Spaces SCORE 97Source: Walk Score

3 INVESTMENT HIGHLIGHTS

BOUTIQUE Office Building with Significant Upside Potential With the Tri-Cities class “A” office market vacancy at 8.5% and market rental rates still 14% below prior peak, the Property is poised to capitalize on the anticipated rental rate upsurge. 150 East Colorado is currently 89.3% leased to a diverse tenant base comprised of healthcare, insurance, technology, and professional services firms. Furthermore, the Property provides the opportunity to capitalize on significant near-term upside as 41% of leases expire over the next three years with average in-place rents over 10% below market rates.

Thriving Pasadena Economy with Improving Fundamentals Boasting an impressive unemployment rate of 4.9%, Pasadena’s track record of homegrown job creation is expected to continue with a forecasted employment growth of 39% over the next 10 years. Fueled by CalTech’s highly technical workforce, Pasadena is home to the 2nd most Fortune 500 Companies in California and boasts one of the highest employment rates in professional or creative fields. Major local institutions include Kaiser Permanente (HQ), Jacobs MAJOR TENANT OVERVIEW Engineering (HQ), Parsons Corporation, Huntington Memorial Hospital, Bank of America, Guidance Software, and the Jet Propulsion Laboratory (JPL), which Leased % of Lease Term Tenant SF NRA Expiration Remaining is a federally funded NASA R&D site. Kaiser Permanente recently selected Pasadena as the site for its new School of Medicine, with groundbreaking OpTerra Energy Services (1) 11,968 19.2% Oct’20 4.2 Years expected to start in 2017. With such a dynamic job market providing consistent Companion Hospice 7,378 11.8% Jan’19 2.4 Years

tenant demand for office space, Pasadena is often regarded as one of the most Intelecom Intelligent 6,022 9.7% Jul’18 1.9 Years stable submarkets when comparing fluctuations in vacancy and rental rates. American Postal Workers 4,558 7.3% Jun’21 4.8 Years Since the trough of the last cycle (1Q2010), 1 million SF of Class A office space (1) As part of an Asset Purchase Agreement dated 6/24/14, Chevron U.S.A. ("Assignor") assigned has been absorbed through 2Q 2016. the lease to OpTerra Energy Services ("Assignee"). Assignor is not relieved or released from any of its obligations under the lease.

4 OLD TOWN PASADENA Strong Walkability Score Amidst An Amenity Rich Environment Achieving a 97 walkability index score, 150 East Colorado is defined as a “Walker’s Paradise”. Located at the heart of ’s deep amenity base, 150 East Colorado is surrounded by 23.7 million SF of retail amenities located within a 5 miles radius. Additionally, the Pasadena Conference Center & Civic Auditorium is located in close proximity.

• PASEO COLORADO: An upscale one-stop outdoor lifestyle destination, covering three city blocks, featuring top-tier shopping, dining, and VIEW DOWN COLORADO BLVD. entertainment located in the heart of historic downtown Pasadena (1 min walking). The center features an Archlight Cinemas, Equinox, Victoria Secret, DSW, Yard House, P.F. Changs and Bath & Body Works.

• OLD TOWN PASADENA: Spanning over 22 city blocks, Old Town Pasadena boasts more than 100 world-class dining options, 200 diverse specialty boutique and retailers, a farmers market, and a vibrant cosmopolitan nightlife. The downtown area serves as a cultural epicenter for the Tri-Cities, ranging from museums to cultural centers.

POTENTIAL CREATIVE REPOSITION Ground Floor Retail Reposition Opportunity The demand for a modern, highly-amenitized workplace, emphasizing employee satisfaction and retention of talent, continues to be the driving force behind leasing. 150 East Colorado provides a value enhancement opportunity to reposition the ground floor corner suite into a creative retail jewel box capitalizing on this rising demand in Pasadena along Colorado Boulevard with a daily traffic count of +20,000 cars.

5 INVESTMENT HIGHLIGHTS (cont.)

Exceptional Demographics in a Rapidly Urbanizing Market Pasadena is one of the most affluent communities in , with a median household income nearly 12% higher than the California average at $68,172. The surrounding residential market is thriving as the median home value push towards $600k, well above the state average of $373k. Furthermore, the density in this region is rapidly increasing with approximately 466 residential unit permits issued by Pasadena since January 2015, at an estimated $125 million in value. Key existing projects TERRACE APARTMENTS include:

• TERRACES AT PASEO COLORADO (EXISTING): 400 loft-style luxury apartments, located above Colorado, creating a unique destination with the entire mall at its disposal. (< 1 min walking)

• UNION VILLAGE (EXISTING): Mack Urban, Mill Creek Development and Cigna Investment Management recently completed the Union Village project located in Pasadena’s “Playhouse District.” The property contains 118 apartment units priced anywhere from $1,400 for a studio to $3,762 for a premium 2-bedroom apartment. (<5 min walking)

• 25 W. WALNUT (UNDER CONSTRUCTION): Greystar and Ivanhoe Cambridge have broken ground on 201 market rate luxury units combined with 10,000 square feet of ground floor commercial space. The apartments will range in size from 523 to 1,312 square foot units. (<10 min walking)

STREET VIEWS FROM ROOFTOP

6 VIEW OF FRONT ENTRANCE ON COLORADO BLVD.

INTERIOR OPTERRA OFFICE VIEWS OF SAN GABRIEL MOUNTAINS FROM ROOFTOP 150EAST COLORADO

ATLANTA PRESENTED BY FOR FINANCING AUSTIN BOSTON RYAN GALLAGHER ANDREW HARPER MICHAEL LEGGETT KEVIN MACKENZIE CAROLINAS Senior Managing Director Director Senior Managing Director Senior Managing Director DALLAS CA License #01269918 CA License #01319640 CA License # 01056334 CA License #01898953 DENVER 949.798.4100 310.407.2139 415.276.6924 949.798.4126 HOUSTON INDIANAPOLIS [email protected] [email protected] [email protected] [email protected] LOS ANGELES MIAMI TIM GEIMAN MICHAEL MATCHETT BILL FISHEL NEW JERSEY NEW YORK CITY Director Real Estate Analyst Director ORANGE COUNTY (CA) CA License #01921744 CA License #01960206 CA License #01852507 ORLANDO PHILADELPHIA 949.798.4109 310.407.2132 310.407.2133 PITTSBURGH [email protected] [email protected] [email protected] PORTLAND (OR) SAN DIEGO TAMPA WASHINGTON, D.C. HFF has been engaged by the owner of the properties to market them for sale. Information concerning the property properties described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria dif- ferent from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained hfflp.com herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.