RARE OPPORTUNITY TO OWN OR LEASE A FREE STANDING CUPERTINO OFFICE BUILDING MEMORANDUM

10121 MILLER AVE 10121 CUPERTINO, CA OFFERING MILLER10121 AVE

OFFERING MEMORANDUM vacancies occur. tenants andthebuilding’s abilitytoattractnewtenantswhen occupancy andsteady revenue duetoretentionoflong-term Cupertino providingits ownerwiththesecurityofsustained The propertyisextremelywelllocatedinthe heart of site surfaceparkingstalls. rentable areasbetween±1,578-5,497RSFserviced by±39on RSF officebuildingcurrentlydemisedinto4 suiteswith 10121 MillerAvenueisatwostory,elevatorserved, ±12,995 Offering Summary TRANSACTION GUIDELINES-19 DISCLAIMER &CONFIDENTIALMEMORANDUM-18 MARKET OVERVIEW AREA OVERVIEW PROPERTY INFORMATION OFFERING SUMMARY-3 Comparable SaleTransactions-20 Comparable LeaseTransactions-18 Notable Companies&PlacesofInterest-16 Vallco TownCenter-14 Amenities Map-13 Demographics -11 Cupertino Overview-9 Parcel Map-7 Physical Description-6 Property Highlights-5

3 Property Highlights

¢ Address: 10121 Miller Ave, Cupertino ¢ Rentable Size: 12,995 RSF ¢ Land Area: ±34,212 SF ¢ Zoning: OA Professional/ Commercial Office ¢ Stories: Two ¢ Year Built/Renovated: 1982 / 2008 ¢ Occupancy: Partially Leased ¢ Parking: 3.6/1000 ¢ Market Rent: $3.65 - 3.85 MG ¢ Parcel Number: 369-07-001

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MILLER AVE PROPERTY INFORMATION 5 10121

MILLER AVE PROPERTY INFORMATION Parcel Map APN: 369-07-001 Physical Description

> FOUNDATION & STRUCTURE > HVAC The Building features a Individual suites are concrete slab-on-grade serviced by dedicated by foundation. H.V.A.C. units with individual The structure has dimensional temperature controls wood (conventional joist type construction) floor and roof > ELECTRICAL framing, and was structurally The building is serviced by reinforced during the 2008 an 00-amp, 120/240-volt, Property renovation. 3-phase, 4-Wire system located on the > DOORS ground floor. The system has 10121 The property’s entrance is a single meter sub-panels for immediately accessed from the each suite. on site, surface parking area, MILLER AVE each suite has its own private > UTILITIES entrance Electricity: Pacific Gas & Electricity (PG&E} > WINDOWS Water/Sewer: City of San Jose Both the ground and 2nd & County of Santa Clara floors feature large, aluminum framed glass windows. > SECURITY Building serviced by FLS > ROOF Sprinkler System, Tenants TPO (Thermoplastic Polyoefin) provide any additional Roofing Membrance installed security services. 20008 > CELL TOWER > CEILINGS & FLOORS On site cell tower annual Both the ground and second income $33,400, Lease floor feature accoustical- expires 2032. dropped ceilings and carpeted floor coverings 7 10121

MILLER AVE FLOOR PLANS

SUITE 102

SUITE 205

SUITE 101

SUITE 200

LEVEL 1 LEVEL 2 1" - 20'-0" 1" - 20'-0"

9 10121

MILLER AVE AREA OVERVIEW Cupertino Overview

Cupertino is a city in California’s Silicon Valley. Known as the headquarters of Apple, it’s also home to parks like trail-lined Rancho San Antonio Open Space Preserve, with a working farm. Fremont Older Open Space Preserve has equestrian routes. The McClellan Ranch Preserve is a former horse ranch with a nature museum. Set in a stately late-1800s mansion, the California History Center has regional history displays.

11 10121 MILLER AVE, CUPERTINO, CALIFORNIA, 95014

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MILLER AVE AREA OVERVIEW

Demographics

10121 MILLER AVE, CUPERTINO, CALIFORNIA 2020 DEMOGRAPHIC REPORT

1 MILE RADIUS 3 MILE RADIUS 5 MILE RADIUS

TOTAL POPULATION 22,826 221,008 474,143

WORKERS 14,665 104,804 264,520

RESIDENTS 13,757 120,904 258,783

2020 EMPLOYEES % OF DAYTIME POPULATION 51.6% 46.4% 50.5% 2020 RESIDENTS % OF DAYTIME POPULATION 48.4% 53.6% 49.5%

2020 HOUSEHOLDS 8,600 84,068 186,940

2020 FAMILIES 6,640 60,839 128,029

AVERAGE HOUSEHOLD INCOME $197,460 $192,763 $184,462

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This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2021. All rights reserved. Data source: ESRI, HERE 10121 AMENITIES MAP

1 4 MILLER AVE 1. Lawrence Teaspoon HECHAA W FREMONT AVE EL CAMINO REAL AREA OVERVIEW Expressway Plaza Mitsuwa Marketplace 21 Lucky Daiso Trader Joe’s 3 Big Lots Paris Baguette HSBC Bank 5 2 Shan The Homedepot 12. Shoppes at Mori Kitchen Denny’s Homestead Tacos The King David Togo’s CVS 20. DeAnza Blvd and 2. Grandview Plaza Super Burrito Stevens Creek Blvd Beque Korean Grill Round Table Target 16 Kabila Sweets Wingstop Staples Obok Noodle Plus Philz Coffee Toco Tea Bay Sushi Starbucks Bank of America 12 3. Buttitta Plaza 13. Stevens Creek Paris Baguette Shu’s Central The Habit Burger Grill Tong Soon Garden McDonald’s Whole Food Dae Bak Bill’s Café Panera Bread N WOLFE RD 6 Yewon Rice Bakery Supercuts Ike’s Sandwiches HOMESTEAD RD 15 Main Street Cupertino Chase Bank N DE ANZA BLVD 4.Bowers Plaza Safeway 21. El Camino and 17 7 Pani Puri Company New Tandori Café Larance Expy Taj Mahal Imports Total Wine & More The Fish Market Bahgalore Café Marshells CitiBank Aappa Kadai Starnucks 280 Hankook Supermarket 5. Slavich Plaza 14. Park Lane Plaza Best Western 10121 Seoul Gom Tang CVS Vons Chicken Dollar Tree Burger King Cherry Orchard Inn 10121 Big Mug Coffee Gaku Tanto Park Lane Lounge House of Pho 6. Super Kyo-po Plaza Rama V Sweet Potato Stall Khan Shabu shabu ChiMek 15. Mariposa Shopping & BBQ MILLER AVE Baskin-Robbins Center Starbucks

MILLER AVE JX Cuisine CVS US Bank McDonald’s Safeway 22. Orchard Farms 8 9 10 Misoya Starbucks Shopping Center STEVENS CREEK BLVD N WOLFE RD STEVENS CREEK BLVD Wells Fargo Bank Safeway 20 7. Cupertino Village Chase Bank 13 MILLER AVE 99 Ranch Market Taco Bell Wells Fargo Bank 18 24 11 Joy Luck Palace Stan’s Donut IHOP Fantasia Coffee & Tea Sumiya Kizuna Fuhi Huoshao Mod Pizza 16.Kiely Plaza Teatop JSJ Street Kitchen Togo’s 280 Tofu Plus 7-Eleven 23. Westgate Center The Moo Bar Target 8. Portal Plaza Korean Spring Trader Joe’s Chuck E Cheese To Bang Smart & Final JOANN Fabrics Kami Korean Kitchen Sprouts Farmers

The Marketplace L’epi D’ or Bakery Marketing MILLER AVE Azuma Japanese 17. Homestead Square Petco 19 Cuisine hopping Center AMC Saratogo Rite Aid Gen Korean BBQ 9. Main Street US Bank N FOOTHILL BLVD Mod Pizza Cupertino Safeway Taco Bell 22 14 Alexander’s Steakhouse Michaels Buffalo Wild Wings Lazy Dog Starbuchs Popeyes Hotpot Fish’s Wild Oren’s Hummus Chipotle 24. The Marketplace Philz Coffee YAYOi Galpao Gaucho 85C Bakery Café Chase Bank Brazilian Target Daiso CVS Marukai Market SARATOGA AVE 18. Cali Mill Plaza SAN TOMAS EXPY T4 Park Yogurtland LAWRENCE EXPY Boiling Paoint Le Boulanger One Pot Shabu Shabu Happy Lemon US Bank 10. Stephens Plaza Parkview Kitchen & Gyu-kaku Japanese Harbor Freight Tools Spirits BBQ Paper Moon Coffee Co Pho Ha Noi House of Falafel Yum Noodles Bed Bath & Beyond 19. South DeAnza Blvd 11. Mizuwa Plaza CVS 85 Shauway 99 Ranch Market Clover Bakery & Café Chipotle PROSPECT RD Tomisushi Restaurant Aqui Cupertino 23 15 MILLER10121 AVE AREA OVERVIEW UNDER DEVELOPMENT

MILLER10121 AVE Walk 1 Min ¢ ¢ ¢ ¢ ¢

making theVallcoTownCenter thenewsocialheartofCupertino. spaces, whichwillgivevisitors anunforgettablesenseofarrivalandcreatedynamic venuesforcommunityeventsandgatherings, Innovative gatewayarchitecture andurbandesignfeatures,includingdestinationtown centerplazas,promenadesandcar-free An unprecedentedrooftopcommunityparkwithaccessible walkingandjoggingtrails. 1,810,000 squarefeetofofficespace,inordertomake theprojecteconomicallyviableandforCity’slong-termfiscalh. healt entertainment, whichwillrestoreVallcoasthevibrantretail sceneitwas30yearsago. 400,000 squarefeetofretailandentertainmentuses,including spaceforanewstate-of-the-artAMCTheatres,andinnovating affordable tolowandveryincomelevels. 2,402residentialunits,bothforsaleandrent,servingawiderangeofhouseholdtypeslifestyles,50percent ofwhichwillbe

17 10121

MILLER AVE AREA OVERVIEW

Cupertino & West Valley Market Overview

Cupertino, incorporated in 1955, is one of Santa Clara County’s most famous cities owing to one of the most notable tenants in Silicon Valley, Apple Inc. Located approximately 10 miles west from San Jose Mineta International Airport, and 8 miles south of Mountain View, it is widely considered the “heart” of Silicon Valley. Its population of approximately 60,000 has a median household income of $172,000, 228% above the California average, likely owing to the large tech presence both in and around the city borders.

Cupertino’s office building base is approximately 7.2 MSF, with 4.4 MSF that figure comprised of Class A office space. While this may seem like a large market, as of December 2020, Apple controls 3.7 MSF of that Class A figure, leaving just 16% of it available to other tenants. As such, it is one of the most competitive markets in Silicon Valley, with a single‐digit availability rate for the last 35 quarters. Current availability in Cupertino is 6.8%, up from 4.9% in 2019 and 1.3% at the end of 2018. In the same period to current, asking lease rates have remained relatively unchanged from $3.85 full service to $5.39 full service, evidence that demand has not slowed for office space in Cupertino.

Cupertino resides in the West Valley submarket of Silicon Valley, comprising roughly 42% of the building base. The West Valley submarket additionally includes Campbell, Los Gatos, Saratoga, and West San Jose, though Cupertino is the largest piece. The combined building base of West Valley is just above 16.9 MSF, with 8.0M square foot of that building base comprised of Class A Office.

Developer interest in West Valley remains strong despite the economic downturn of 2020, with 416,000 square feet of office space under construction in the West Valley submarket, and an additional 3.3 MSF entitled for the near future, the most notable being 1.8 MSF of new office product at the Hills at Vallco in Cupertino. Current availability in West Valley stands at 8.4%, slightly higher than Cupertino, but still lower than the Silicon Valley regional average of 12.7%. Based on these statistics it’s clear that the Cupertino/West Valley submarket is one of the more resilient markets and should expect to recover sooner than other regions.

19 MILLER10121

& LocalLifestylePlacesofInterest Proud HistoryofAttractingGlobalTech Companies AVE headquartered inCupertino, CA. annual revenueof$265.6B that is 132,000 employeesandan Apple isanindustryleaderwith Amazon, Google,andFacebook. Big Fouroftechnologyalongwith services. Itisconsideredoneofthe computer software,andonline and sellsconsumerelectronics, California, thatdesigns,develops, headquartered inCupertino, multinational technologycompany Apple Inc.isanAmerican Apple AREA OVERVIEW revenue of$9.4B. 41,000 employeesandanannual Technology isanindustryleaderwith Based inCupertino,CA,Seagate Cupertino, California,UnitedStates. with operationalheadquartersin is incorporatedinDublin,Ireland, Technology. Since2010,thecompany was incorporatedin1978,asShugart American datastoragecompany.It Seagate TechnologyPLCisan Seagate Technology employees. in theeducationindustrywith 3,000 Community Educationisakey player Based inCalifornia,DeAnza College Bautista deAnza. after theSpanishexplorerJuan Los AltosHills,California.Named administers FoothillCollegeinnearby College District,whichalso of theFoothill-DeAnzaCommunity California. DeAnzaCollegeispart community collegeinCupertino, De AnzaCollegeisapublic Education De AnzaCollegeCommunity employees and arevenueof$96.0M. technology companywith450 CA, SugarCRMisamedium-sized Cupertino, CA.Basedin of BestCompaniestoWork for in and itisnumber3onZippia’s list a greatplacetoworkinCalifornia, SugarCRM hasestablisheditselfas Social CRMandreporting. support, collaboration,MobileCRM, marketing campaigns,customer includes sales-forceautomation, system. SugarCRM’sfunctionality a customerrelationshipmanagement produces thewebapplicationSugar, based inCupertino,California.It SugarCRM isasoftwarecompany SugarCRM employees andanannualrevenueof$30.0M based inCupertino,CAwithapproximately210 Mist Systemsisasmallertechnologycompany location experiences. & measurablewhiledeliveringamazingindoor AI-driven WLANmakesWi-Fipredictable,reliable Mist ispioneeringthenewwirelessnetwork.Our Mist Systems Park). water towerfromParishRanch (nowMemorial Anza andStevensCreekBoulevards),theold Baer’s BlacksmithShop(originallylocatedatDe Society), milkbarn,livestockareplicaof house (hometotheSantaClaraCountyAudubon Additional buildingsincludetheoriginalranch well asnatureinformationrelatedtothePreserve. learn moreabouttheanimalshousedthereas & Sundaysfrom11am-3pm)wherevisitorscan Environmental EducationCenter(OpenSaturdays ranch inthe1930’sand40’s.Thesitehousesan This 18-acrenaturalpreservewasahorse Mcclellan RanchPreserve Deep CliffGolfCourse Newspapers Metro Digest GCSAA/Golf International Audubon Magazine Golf Range Foundation National Golf International Audubon Foundation National Golf 2017 BestofSiliconValley California Facilities –GCSAofNorthern 2009 ELGAMeritAwardforPublic Sanctuary Recertified asaCooperative 2007 Top ShortCoursesinAmerica Daily FeeCategory 2005 CLASPAward-Runnerup Sanctuary Fully CertifiedasaCooperative Daily FeeCategory 2003 CLASPAward-Runnerup 21 MILLER10121 AVE Comparable LeaseTransactions Starting Rent:$3.85FS Comp SF:2,737 Cupertino, CA 95014 20883 StevensCreekBlvd, Suite150 Stevens CreekOfficeCenter Starting Rent:$4.35FS Comp SF:3,504 Campbell, CA95008 2105 SBascomAve,Suite200 Lincoln Court 4 1 MARKET OVERVIEW Starting Rent:$3.90FS Comp SF:2,705 Cupertino, CA 95014 20410 TownCenterLn,Suite 290&295 Cupertino CivicPark Starting Rent:$4.15FS Comp SF:2,166 Campbell, CA95008 51 ECampbellAve,Suite110 Heritage VillageOffices 5 2 Starting Rent:$3.98FS Comp SF:4,042 Sunnyvale, CA 94086 298 SSunnyvaleAve,Suite 210 De AnzaBuilding Starting Rent:$4.10FS Comp SF:9,729 Cupertino, CA95014 20883 StevensCreekBlvd Stevens CreekOfficeCenter 6 3 23 MILLER10121 AVE Comparable SaleTransactions Sale Price: $6,200,000 Comp SF:12,295 Los Gatos,CA 95032 14911 NationalAve National Ave.Medical Sale Price:$4,800,000 Comp SF:6,300 Cupertino, CA95014 21050 McClellanRd 3 1 MARKET OVERVIEW

Sale Price:$8,250,000 Comp SF:11,863 San Jose,CA95050 826 NWinchesterBlvd Sale Price:$15,038,265 Comp SF:16,679 Cupertino, CA95014 14 ResultsWay Results WayCorporatePark 4 2 25 10121

MILLER AVE Disclaimer & Confidential Memorandum Transaction Guidelines

This Confidential Offering Memorandum (“Memorandum”) has been prepared and presented to the recipient (the “Recipient”) by Colliers International 10121 Miller Avenue is being offered for sale without an asking price. All interested (“Colliers”) as part of Colliers’ efforts to market for sale the real property located at 10121 Miller Avenue, Cupertino, California (the “Property”). Colliers parties should base their offer on the “as is, where is” condition of the property. is the exclusive agent and broker for the owner(s) of the Property (the “Owner”). Colliers is providing this Memorandum and the material contained in it to the Recipient solely to assist the Recipient in determining whether the Recipient is interested in potentially purchasing all or part of the Property. In order to assist with the underwriting, upon request qualified parties will be Colliers also is providing this Memorandum and the material in it to the Recipient with the understanding that the Recipient wiII independently available for on-site tour of the property and an online due diligence war room investigate those matters that it deems necessary and appropriate to evaluate the Property and that the Recipient will rely only on its own investigation, containing specific property information and not on Colliers, the Owner or this Memorandum, in determining whether to purchase the Property. The Recipient’s use of this Memorandum and the material in it is strictly governed by the terms and conditions of the Registration and Confidentiality Agreement that the Recipient previously INTEREST OFFERED: executed and delivered to Colliers. Proposals from qualified investors are invited for an outright 100% fee simple purchase. PLEASE NOTE THE FOLLOWING: Colliers, the Owner and their respective agents, employees, representatives, property managers, officers, directors, shareholders, members, managers, OFFERING PROCESS: partners,joint venturers, corporate parents or controlling entities, subsidiaries, affiliates, assigns and predecessors and successors-in-interest make no All Offers to purchase should be delivered to the offices of the Exclusive Advisor, representations or warranties about the accuracy, correctness or completeness of the information contained in this Memorandum. The Recipient is Colliers International, attention Mark Kuiper at [email protected]. urged not to rely on the information contained in this Memorandum and to make an independent investigation of all matters relating to the Property. We request that interested parties submit a formal Letter of Intent (“LOI”) on the This Memorandum includes statements and estimates provided by or to Colliers and/or the Owner regarding the Property. Those statements and Offer Date outlining the salient terms of their offer including: estimates may or may not be accurate, correct or complete. Nothing contained in this Memorandum should be construed as a representation or warranty about the accuracy, correctness or completeness of such statements and estimates. Further, nothing contained in this Memorandum should • Company Background • Earnest Money Deposits be construed as a representation or warranty about any aspect of the Property, including, without limitation, the Property’s (1) past, current or future • Financial Capability • Due Diligence Period performance, income, uses or occupancy, (2) past, current or prospective tenants, (3) physical condition, (4) compliance or non-compliance with any • Purchase Price • Closing Period permit, license, law, regulation, rule, guideline or ordinance, or (5) appropriateness for any particular purpose, investment, use or occupancy. Again, the Recipient is urged not to rely on this Memorandum and the statements and estimates in it and to make an independent investigation regarding the Property and the statements and estimates contained herein.

This Memorandum may include statements regarding, references to, or summaries of, the nature, scope or content of contracts and/or other documents relating to the Property. Those statements, references or summaries may or may not be accurate, correct or complete. Additionally, Colliers may not have referenced or included summaries of each and every contract and/or other document that the Recipient might determine is relevant to its evaluation of the Property. Nothing contained in this Memorandum should be construed as a representation or warranty about the accuracy, correctness or completeness of such statements, representations or summaries. On request and as available, and subject to the Owner’s consent, Colliers will provide the Recipient with copies of all referenced contracts and other documents. Colliers assumes no obligation to supplement or modify the information contained in this Memorandum to reflect events or conditions occurring on or after the date of its preparation of this Memorandum. This Memorandum does not constitute an offer to sell, or a solicitation of an offer to buy, an interest in the Property. Nothing contained in this Memorandum may be construed to constitute legal or tax advice to a Recipient concerning the Property.

More detailed information regarding the anticipated terms, conditions and timing of any offering by the Owner relating to the Property wiII be provided in due course by separate communication. Colliers and/or the Owner reserve the right to engage at any time in discussions or negotiations with one or more recipients of this Memorandum and/or other prospective purchasers of the Property without notice or other obligation to the Recipient. The Owner reserves the right to change the terms of any offering relating to the Property or to terminate without notice that offering. The Owner also reserves the right to operate the Property in its sole and absolute discretion prior to the completion of any sale of the Property. Colliers reserves the right to require the return of this Memorandum and the material in it any other material provided by Colliers to the Recipient at any time. Acceptance of this Memorandum by the Recipient constitutes acceptance of the terms and conditions outlined above.

27 Exclusive Advisors

Mark Kuiper Senior Vice President +1 408 282 3850 [email protected] CA License No. 00902002

Hitoshi Takahashi Senior Vice President +1 408 282 3933 [email protected] CA License No. 01248109

Mike Covell Senior Associate +1 408 282 3917 [email protected] CA License No. 02040499