Market t Analysis is and Listing ting Pr Present ntation ation - - PDF document

Presented By: PATRICK LONG BRE #: 01831830 RANDY STEVENSON BRE #: 01228475

The information together with any projections or other data has been furnished from sources which we deem reliable, but for which we assume no liability, expressed or implied. Interested parties to conduct independent investigation of all information.

STEVENSON REAL ESTATE SERVICES 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

Market t Analysis is and Listing ting Pr Present ntation ation

2204 West Burbank Boulevard ● Burbank, CA 91506

TABLE OF CONTENTS Page Overview 1 Description of Assignment 2 Property Information 3-4 Company Background 5 Stevenson Business Philosophy 6 Company Affiliations 7 Opinion of Value 8 Competitive Analysis 9-13 Compensation & Summary 14 Comparable Sales - Supporting Data 15-22 Comparable Leases - Supporting Data 23-34 Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

OVERVIEW 1 The purpose of this presentation is to describe Stevenson Real Estate Services’ valuation of 2204 West Burbank Boulevard, Burbank, CA 91506 on a sale and lease basis. Our approach is founded on experience, and our track record reflects our successful efforts over the years. While the following information outlines the valuation, a basic marketing plan and makes several recommendations, the final marketing approach will be determined only after a number of important issues (timing, condition of property) can be further discussed with you. Working through a team of experts, Stevenson Real Estate Services will provide you with the highest quality of service and representation. Our entire team will help to define specific goals, refine strategy for attaining these goals, and aggressively implement that strategy to a successful conclusion. Stevenson Real Estate Services maintains a professional approach while continuing to build a tradition of honesty and

• integrity. Our capabilities and entrepreneurial approach to maximizing the value of property enables the firm the

flexibility to rapidly adjust to the demands of our clients and the market. This powerful combination presents to

• wners and clients a level of real estate knowledge and ability unsurpassed by many larger firms.

Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

DESCRIPTION OF ASSIGNMENT 2 Based upon our discussion, the purpose of this assignment is to provide a valuation for 2204 West Burbank Boulevard on both a sale and lease basis (as outlined below). This assignment includes but is not limited to the following objectives: A. The recommendation of a pricing structure which will maximize the owner’s return, while minimizing the marketing time and making adjustments to the pricing structure as required. B. The development of a short-term marketing plan which identifies and analyzes the competitive environment, incorporates the owner’s objectives, develops a strategy, and outlines action programs and budgets for the marketing of the property. C. The development and recognition of a long-term strategy that identifies the changing attitudes of prospective buyers and tenants, and re-analyzes the marketing strategy, if necessary. D. Assist in the disclosure and development of marketing materials that clearly illustrate the subject property from title to building and permit history, compliance, environmental history, and acknowledgements. Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

PROPERTY INFORMATION 3 Property Address 2204 West Burbank Boulevard Burbank, CA 91506 Property Type Retail/Auto Repair APN 2448-005-030 Building Area 1,000 SF (per Assessor) Land Area 5,500 SF (per Assessor) Year Built 1958 Zoning C3 Parking 5 Spaces Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

PROPERTY INFORMATION 4 PARCEL MAP Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

COMPANY BACKGROUND 5 Established in 1962, Stevenson Real Estate Services is a full service real estate brokerage and advisory firm headquartered in Glendale, CA. We are a recognized leader in the field of industrial, commercial, office and investment real estate. Our expertise and understanding spans all phases of real estate including:

• Brokerage
• Development
• Management
• Market analysis
• Location analysis
• Site analysis
• Tenant services
• Zoning and land use approvals

Our commitment to providing the highest level of client services ensures leading edge results and guarantees our clients’ satisfaction. Our approach to Real Estate is relationship driven rather than transaction driven. Stevenson Real Estate Services agents are skilled experts in their chosen fields and through effective marketing and representation of their clients, aggressively seek out the finest deals and provide the best results possible. Traditionally, Stevenson Real Estate Services markets the North Los Angeles, East San Fernando Valley, San Gabriel Valley and Tri-Cities markets. Our agents specialize in the acquisition and disposition of available properties, as well as, exclusive buyer/tenant and seller/landlord representation. Stevenson has based its service philosophy on understanding the market and knowing the clients’ needs. Through a unique mix of our traditional business approaches and training, we have created a results-oriented firm focused on efficient, quality customer service. Our affiliation and designation with highly esteemed industry networks such as the Society of Industrial and Office Realtors (SIOR), and Certified Commercial Investment Member (CCIM) has provided our firm access to over 18,000 real estate professionals in over 400 locations nationally. In addition, with Internet affiliations such as Loopnet, CoStar, A.I.R. and GAOR, our reach into the market is without limits. Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

STEVENSON BUSINESS PHILOSOPHY 6 Stevenson Real Estate Services is built on brokerage performance. Deep local roots and years of experience successfully representing property owners, buyers and tenants has given Stevenson Real Estate Services an unmatched reputation for integrity and superior service. While specialists in industrial/commercial real estate can promise to deliver a high level of counseling and service, it is the customer-focused approach that has enabled Stevenson to maintain its leadership position in brokerage services. A mastery of business acumen is only part of the process in today’s economic environment. What separates us from

• ur competitors is our decision to dedicate our firm to higher expectations of ourselves than clients customarily

expect or demand. The depth of our professional expertise and an entrepreneurial approach allows Stevenson to meet the needs of our clients. Our company’s core beliefs are contained in the following items:

• Honesty, trustworthiness and openness
• Superior systems and analysis capabilities
• Emphasis on personal relationships
• Accountability
• Outstanding knowledge and understanding of the real estate trends
• Expertise in real estate brokerage, development and management
• Demonstrated commitment and contribution to the communities in which we serve

Our firm actively participates in numerous charitable, health and educational efforts. Helping foster and enhance the community where we live and work can only inevitably create a better business climate in the communities we serve. We pride ourselves on the mutual respect, solid relationships and repeat business which we have created and maintained for many years. Stevenson Real Estate Services is not in business for the short term, nor are we here to make a quick profit and move on. We believe today’s modest opportunities are the gateway to tomorrow’s

• pportunities.

This principle is at the foundation of our recognition that subsequent business doesn’t occur unless there is initial and sustained satisfaction on the client’s part in the process of every real estate transaction in which we participate. Values such as creativity, dedication and teamwork create the collective ethic that defines Stevenson Real Estate Services as a leader in the Southern California industrial/commercial real estate markets. Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

COMPANY AFFILIATIONS 7 The brokers at Stevenson Real Estate Services believe that their participation in civic and social

• rganizations contributes to the overall marketing effort of any program. Stevenson Real Estate Services

has individual or corporate memberships in the following: Business Affiliations

• Glendale Chamber of Commerce
• Burbank Chamber of Commerce
• Glendale Board of Realtors
• Burbank Board of Realtors
• National Association of Realtors (NAR)
• California Association of Realtors (CAR)
• American Industrial Real Estate Association (AIR)
• Certified Commercial Investment Member (CCIM)
• International Association of Corporate Real Estate Executives (Coronet Global)
• Society of Industrial & Office Realtors (SIOR)

Social Affiliations

• Oakmont Country Club
• Rotary
• Kiwanis
• The Jonathan Club

Boards & Committees Served

• Project Area Committee (PAC) San Fernando Road Redevelopment Project Area
• Glendale Community College Foundation - Board of Directors
• Glendale Memorial Hospital Foundation - Board of Directors
• City of Glendale - Board of Zoning Adjustments
• Economic Advisory Council - City of Glendale
• Glendale Rose Float Association - Board of Directors
• Verdugo Hills Council, Boy Scouts of America, District Committee & Board of Directors
• American Educational League, AEL
• VICA, Valley Industry and Commerce Association
• Burbank Health Care Foundation - Board of Directors

Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

OPINION OF VALUE 8 There are many considerations in positioning a property's marketing program relative to the competition. In determining the value range, we considered the following major features: parcel size, geographic area, ingress/egress, visibility, zoning and surrounding users. Stevenson Real Estate Services, based on an in-depth study and using generally accepted valuation techniques, recommends the following: SALE Range of Value Suggested Listing Price $575,000 ($575/SF) - $635,000 ($635/SF) $650,000 ($650/SF) LEASE Range of Value Suggested Listing Price $2,750/Month ($2.75/SF) - $3,000/Month ($3.00/SF), Modified Gross $3,000/Month ($3.00/SF), Modified Gross Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

COMPETITIVE ANALYSIS 9 In order to design an effective marketing strategy, it is necessary to have a clear understanding of the property in relationship to the rest of the market. We have assembled the following property data as a comparison in determining a value range. Presented herein are the Comparable Sales and Comparable Leases. Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

COMPETITIVE ANALYSIS 10

ITEM SALE

• NO. 1

SALE

• NO. 2

SALE

• NO. 3

SALE

• NO. 4

SUBJECT Address 3636 San Fernando Rd., Glendale 2060

• E. Chevy Chase Dr.,

Glendale 1821

• S. Brand Blvd.,

Glendale 1815

• S. Brand Blvd.,

Glendale 2204

• W. Burbank Blvd.,

Burbank Sale Price $1,100,000 $600,000 $820,000 $900,000 $575,000- $635,000 Building SF 2,256 1,215 1,612 2,762 1,000 Lot SF 10,454 7,444 8,542 8,333 5,500 Price/SF $487.59 $493.83 $508.68 $325.85 $575.00 – $635.00 Use Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair # Parking Spaces 8 8 6 4 5 Date Sold 06/05/15 09/22/15 10/15/15 10/15/15

COMPARABLE SALES 2204 West Burbank Boulevard Burbank, CA 91506 Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

The information together with any projections or other data has been furnished from sources which we deem reliable, but for which we assume no liability, expressed or implied. Interested parties to conduct independent investigation of all information.

COMPETITIVE ANALYSIS 11

ITEM SALE

• NO. 5

SALE

• NO. 6

SALE

• NO. 7

AVERAGE SUBJECT Address 601

• S. Glendale Ave.,

Glendale 318

• S. Brand Blvd.,

Glendale 500

• S. Glendale Ave.,

Glendale 2204

• W. Burbank Blvd.,

Burbank Sale Price $1,400,000 $1,100,000 $1,850,000 $1,110,000 $575,000- $635,000 Building SF 1,568 2,745 2,970 2,161 1,000 Lot SF 11,561 4,770 12,415 9,074 5,500 Price/SF $892.86 $400.73 $622.90 $513.65 $575.00 – $635.00 Use Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair # Parking Spaces 12 4 30 5 Date Sold 12/16/15 02/16/16 06/02/16

COMPARABLE SALES 2204 West Burbank Boulevard Burbank, CA 91506 Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

The information together with any projections or other data has been furnished from sources which we deem reliable, but for which we assume no liability, expressed or implied. Interested parties to conduct independent investigation of all information.

COMPETITIVE ANALYSIS 12

ITEM LEASE

• NO. 1

LEASE

• NO. 2

LEASE

• NO. 3

LEASE

• NO. 4

SUBJECT Address 1305 Glendale Ave., Suite 3 Glendale 1700

• N. San Fernando

Blvd., Suite G, Burbank 1700

• N. San Fernando

Blvd., Suites A & B, Burbank 1700

• N. San Fernando

Blvd., Suite C, Burbank 2204

• W. Burbank Blvd.

Burbank Lease Price/SF 1/ $2.89 NNN $1.75 NNN $1.75 NNN $1.75 NNN $2.75 - $3.00 MG Leased SF 2/ 780 720 1,600 850 1,000 Building SF 4,464 5,720 5,720 5,720 1,000 Land SF 3/ 13,368 12,950 12,950 12,950 5,500 Use Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair # Parking Spaces 16 10 10 10 5 Date Leased February 2016 October 2015 May 2015 May 2015

Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

The information together with any projections or other data has been furnished from sources which we deem reliable, but for which we assume no liability, expressed or implied. Interested parties to conduct independent investigation of all information.

1/ Asking rent 2/ Space leased is part of a larger building. 3/ Per Costar

COMPARABLE LEASES 2204 West Burbank Boulevard Burbank, CA 91506

COMPETITIVE ANALYSIS 13

ITEM LEASE

• NO. 5

LEASE

• NO. 6

LEASE

• NO. 7

LEASE

• NO. 8

SUBJECT Address 1700

• N. San Fernando

Blvd., Suite D, Burbank 1700

• N. San Fernando

Blvd., Suite E, Burbank 1700

• N. San Fernando

Blvd., Suite F, Burbank 913

• S. Glendale Ave.,

Glendale 2204

• W. Burbank Blvd.

Burbank Lease Price/SF 1/ $1.75 NNN $1.75 NNN $1.75 NNN $3.30 FSG $2.75 - $3.00 MG Leased SF 2/ 850 850 850 728 1,000 Building SF 5,720 5,720 5,720 2,070 1,000 Land SF 3/ 12,950 12,950 12,950 8,499 5,500 Use Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair Retail/ Auto Repair # Parking Spaces 10 10 10 6 5 Date Leased May 2015 May 2015 May 2015 April 2014

Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560 COMPARABLE LEASES 2204 West Burbank Boulevard Burbank, CA 91506

The information together with any projections or other data has been furnished from sources which we deem reliable, but for which we assume no liability, expressed or implied. Interested parties to conduct independent investigation of all information.

1/ Asking rent 2/ Space leased is part of a larger building. 3/ Per Costar

COMPENSATION & SUMMARY 14 Marketing 2204 West Burbank Boulevard will require time and energy from the brokers and support staff of Stevenson Real Estate Services. We will distribute the brochure, compile market reports, show the property, negotiate transactions and provide information to prospective buyers and tenants and their brokers. We have provided for your convenience contact phone numbers for this assignment and urge you to take full advantage of our representation. Patrick Long BRE #: 01831830 818.956.7001, x134 818.535.9833 PatrickL@StevensonRealEstate.com Randy Stevenson BRE #: 01228475 818.956.7001, x155 818.634.3281 RandyS@StevensonRealEstate.com Office Cell Email Office Cell Email Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

15 COMPARABLE SALES - SUPPORTING DATA Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560

23 COMPARABLE LEASES - SUPPORTING DATA Stevenson Real Estate Services 1111 North Brand Boulevard, Suite 200 ● Glendale, California 91202 P 818.956.7001 ● F 818.502.1306 ● BRE #: 00983560