OFFERING MEMORANDUM CAMDEN - NEW JERSEY CENTER 1910-1920 CAMDEN AVENUE | SAN JOSE, CA 95124 ™ LISTED BY JORDAN GOMEZ EL WARNER ASSOCIATE EVP & NATIONAL DIRECTOR Direct +1 949 432 4503 Direct +1 949 873 0507 Mobile +1 951 264 5994 Mobile +1 858 752 3078 [email protected] [email protected] License No. 02008809 (CA) License No. 01890271 (CA) Camden-New Jersey Center OFFERING MEMORANDUM CAMDEN-NEW JERSEY CENTER 1910-1920 Camden Avenue | San Jose, CA 95124 04 | EXECUTIVE OVERVIEW 06 | PROPERTY OVERVIEW 12 | FINANCIAL OVERVIEW 16 | AREA OVERVIEW 3 SECTION I EXECUTIVE OVERVIEW 4 Camden-New Jersey Center OFFERING SUMMARY Matthews Real Estate Investment Services is pleased to present the fee simple sale of Camden- Investment Summary New Jersey Center, a 19,184 SF neighborhood center, situated in one of the most affluent and Offering Price Best Offer highly sought after infill locations in the Silicon Valley. Offering an extremely rare development opportunity, Camden-New Jersey Center sits on a hard corner lot along a major Bay Area In-Place NOI $370,135 thoroughfare that sees a combined 68,000 vehicles per day and is home to some of the most successful mixed-use developments in the country. With virtually no sites available in the Year 1 NOI $436,148 immediate trade area for future development, there is an exceptionally high-barrier to entry which will provide an owner continued security through the property’s long-term growth and Current Occupancy 92.1% success as a commercial destination. By purchasing Camden-New Jersey Center, an investor Total Rentable Square Feet ±19,184 SF will acquire tremendous real estate fundamentals in the heart of Silicon Valley. Please reach out to the listing agent for additional information on this investment opportunity. Total Land Area ±1.6 Acres INVESTMENT HIGHLIGHTS » One of the most highly sought after hard corner lots in San Jose that sees a combined 68,000 vehicles per day » Extremely rare development opportunity zoned for pedestrian-oriented retail activity and mixed residential and commercial development » Located in a dense, affluent community with over 465,000 people within a 5-mile radius and over $161,539 average household income » Situated in a supply-constrained, in-fill trade area with virtually no sites available for future development creates an exceptionally high- barrier to entry, placing an upward pressure on occupancy and rental rates » Ample parking and ease of access from Camden Avenue and New Jersey Avenue which creates a meaningful amenity to customers throughout the day » Stable income stream with below market rents and near-term rollover which allows a new investor with significant upside » Delivered free and clear of financing permitting an investor to purchase for cash or obtain new financing at desired LTV and terms 5 SECTION II PROPERTY OVERVIEW 6 Camden-New Jersey Center PHYSICAL DESCRIPTION PROPERTY NAME Camden-New Jersey Center ADDRESS 1910-1920 Camden Avenue PARCEL MAP LOCATION San Jose, CA 95124 PARCEL 419-12-050 TOTAL LAND AREA ±1.60 Acres (69,696 SF) NET RENTABLE AREA ±19,184 SF YEAR BUILT 1976 PARKING STALLS ±93 Surface Spaces (4.67 : 1,000 SF) TOTAL TENANTS 11 CURRENT OCCUPANCY 92.1% AVERAGE REMAINING TERM ±2.5 Years TYPE OF OWNERSHIP Fee Simple 7 San Jose, California SITE PLAN Suite Tenant SF 1910-1A Method 3 Fitness 648 C AMDEN AVE 1910-8 Focused Tax Solutions 312 1910-9 Vacant 260 1910-1 Miradoor 1,056 SECOND FLOOR 1910-10 Vacant 290 1910 1910 1910-5 -1 -2 1910-2 SuperCuts 1,100 1910-4 1910-6 1920 1910-3 Vivian Nail Bar 685 1910 1910 1910-7 1910-9 1910-4 Olga's Touch 615 -3 -1A 1910-8 1910-10 E 1910-7 Vacant 294 V A 1912 Kelly Moore Painting Co 5,546 Y E S R 1914 Supreme Hair Styling 1,000 E J 1 9 1 8 1 6 W 1 2 1916 Cigarettes N More 1,000 9 1 9 E 1 N 9 1 4 1 1918 Method 3 Fitness 3,083 1910-5 Vacant 678 General Insurance 1910-6 515 Brokers Occupied Vacant 1920 Hooka Castle 2,102 Totals 16 Suites 19,184 SF 8 Camden-New Jersey Center 9 San Jose, California SURROUNDING AREA Union Ave ±23,000 VPD Cambrian Park Plaza Shopping Center Proposed Mixed-Use Redevelopment Project Cambrian Park Neighborhood Among the 15% Highest Income Neighborhoods in America Camden Ave ±51,000 VPD Subject Property 10 Camden-New Jersey Center SURROUNDING AREA Camden Ave ±51,000 VPD Leigh Ave ±17,000 VPD Subject Property 11 SECTION III FINANCIAL OVERVIEW 12 12 Camden-New Jersey Center RENT ROLL Contract Lease Lease Square % of Rent PSF Rent Suite Tenant Rental Rate Options Start End Feet NRA Increases Year Month Year Month 1910-1A Method 3 Fitness Aug-11 Aug-21 648 3.4% inlcuded in Suite 1918 1910-8 Focused Tax Solutions Jul-17 MTM 312 1.6% $9,600 $800 $30.77 $2.56 1910-9 Vacant 260 1.4% $7,800 $650 $30.00 $2.50 3% annual 1910-1 Miradoor Dec-16 Nov-19 1,056 5.5% $40,800 $3,400 $38.64 $3.22 1x2 years increases 1910-10 Vacant 290 1.5% $8,700 $725 $30.00 $2.50 1910-2 SuperCuts Mar-07 MTM 1,100 5.7% $46,974 $3,915 $42.70 $3.56 1910-3 Vivian Nail Bar Sep-10 Aug-20 685 3.6% $22,618 $1,885 $33.02 $2.75 1x5 years 1910-4 Olga's Touch Feb-11 MTM 615 3.2% $10,500 $875 $17.07 $1.42 1910-7 Vacant 294 1.5% $8,820 $735 $30.00 $2.50 3% annual 1912 Kelly Moore Painting Co Mar-12 Feb-22 5,546 28.9% $91,387 $7,616 $16.48 $1.37 2x5 years increases 1914 Supreme Hair Styling Oct-03 MTM 1,000 5.2% $36,000 $3,000 $36.00 $3.00 3% annual 1916 Cigarettes N More Jan-09 Dec-21 1,000 5.2% $29,700 $2,475 $29.70 $2.48 increases 3% annual 1918 Method 3 Fitness Aug-11 Aug-21 3,083 16.1% $94,492 $6,507 $25.33 $2.11 increases 1910-5 Vacant 678 3.5% $20,340 $1,695 $30.00 $2.50 1910-6 General Insurance Brokers Nov-17 Oct-18 515 2.7% $14,400 $1,200 $27.96 $2.33 3% annual 1920 Hooka Castle Jul-15 May-20 2,102 11.0% $72,336 $6,028 $34.41 $2.87 increases Occupied Totals - In Place 17,662 92.1% $468,807 $39,067 $26.54 $2.21 Vacant Totals 1,522 7.9% $45,660 $3,805 $30.00 $2.50 Totals 19,184 100.0% $514,467 $42,872 $26.82 $2.23 13 San Jose, California SUMMARY TENANT PROFILE Tenant Name Square Feet Lease Expiration In-Place Rent % of Revenue Tenant Type Credit Method 3 Fitness 3,731 Aug-21 $94,492 20.2% Shops Local/Regional Focused Tax Solutions 312 MTM $9,600 2.0% Shops Local/Regional Miradoor 1,056 Nov-19 $40,800 8.7% Shops Local/Regional SuperCuts 1,100 MTM $46,974 10.0% Shops Local/Regional Vivian Nail Bar 685 Aug-20 $22,618 4.8% Shops Local/Regional Olga's Touch 615 MTM $10,500 2.2% Shops Local/Regional Kelly Moore Painting Co 5,546 Feb-22 $91,387 19.5% Shops Local/Regional Supreme Hair Styling 1,000 MTM $36,000 7.7% Shops Local/Regional Cigarettes N More 1,000 Dec-21 $29,700 6.3% Shops Local/Regional General Insurance Brokers 515 Oct-18 $14,400 3.1% Shops Local/Regional Hooka Castle 2,102 May-20 $72,336 15.4% PAD Local/Regional Totals 17,662 SF $468,807 100.0% OCCUPANCY RENT BREAKDOWN Occupied Totals - In Place - 92% Vacant Totals - 8% Shops - 85% PAD - 15% 14 Camden-New Jersey Center LEASE EXPIRATION SCHEDULE Year Year End Sqft % of NRA Cumulative % 1 2018 515 3% 3% 2 2019 1,056 6% 8% INCOME & EXPENSES 3 2020 2,787 15% 23% 4 2021 4,731 25% 47% Year 1 Stabilized 5 2022 5,546 29% 76% Total $/SF Total $/SF 6 2023 0 0% 76% Income 7 2024 0 0% 76% Rental Income $468,807 $24.44 $514,467 $26.82 8 2025 0 0% 76% Other Income $0 $0.00 $0 $0.00 9 2026 0 0% 76% Vacancy Factor $0 $0.00 ($20,579) ($1.07) 10 2027 0 0% 76% Reimbursement Revenue $74,980 $3.91 $115,912 $6.04 Month to Month 3,027 16% Effective Gross Income $543,787 $28.35 $609,800 $31.79 Occupied 14,635 76% Expenses Vacant 1,522 8% Real Estate Taxes $108,206 $5.64 $108,206 $5.64 Total 19,184 100% Insurance $9,543 $0.50 $9,543 $0.50 CAM $38,368 $2.00 $38,368 $2.00 TENANT EXPIRATIONS Tenant Expirations Management Fees $16,500 $0.86 $16,500 $0.86 6,000 5,546 100% EGI (%) 3.0% 2.7% 4,731 90% Administrative / Professional 5,000 $1,035 $0.05 $1,035 $0.05 80% eet Fees 70% e F 4,000 Total Operating Expense $173,652 $9.05 $173,652 $9.05 60% 2,787 3,000 50% Net Operating Income $370,135 $19.29 $436,148 $22.73 40% Operating Expense Ratio 31.9% 28.5% 2,000 30% 1,056 20% 1,000 515 Cumulative % of NRA Expiring Squar 000 0 0 10% 0 0% 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 YEAR 15 SECTION IV AREA OVERVIEW 16 Camden-New Jersey Center SAN JOSE, CALIFORNIA San Jose is an economic, cultural, and political center of Silicon Valley and the largest city in Northern California.