WILLOW LANE NNN INDUSTRIAL / R&D INVESTMENT WESTLAKE VILLAGE, CA

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1 CORPORATE ID # WILLOW LANE WESTLAKE VILLAGE, CA MIKE TINGUS, President BRE # GRANT FULKERSON, SIOR, Managing Director gfulkerson@lee-re.com BRE #

2 INVESTMENT HIGHLIGHTS Rents approximately 25% below market Assumable $7,000,000 loan at 3.75% Approximately 7 years remaining on term ±$10,000,000 of building upgrades and improvements completed in 2016 Extremely low market vacancy rates (±2%) LEASE DETAILS Tenant: Original Building Size: Current Building Size: Base Rent: Rental Increases: Easton Diamond Sports, LLC ±111,703 SF ±104,267 SF $95, per month NNN ($0.91 PSF) Starting January 1, 2019 Three Percent (3%) Annually INVESTMENT OFFERING NOI: Sale Price: $21,759, Cap Rate: 5.25% $1,142, Parking Income 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 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. Option to Extend: Two (2) Options to Renew for five (5) years each at Fair Market Value (FMV) (See Option(s) to Extend Addendum for FMV area limitations) Lease Commencement Date: January 1, 2016 Lease Expiration Date: May 31, 2026 Lease Type/Form: AIR Commercial Real Estate Association Standard Industrial/Commercial Single- Tenant Lease - Net

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

4 MIKE TINGUS, President BRE # GRANT FULKERSON, SIOR, Managing Director gfulkerson@lee-re.com BRE #

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

6 LOCAL MARKET DYNAMICS Situated on the western edge of Los Angeles County in the foothills of the Santa Monica Mountains, Westlake Village, California is recognized as one of America s most affluent suburban locations and finest areas to live, work, and raise a family. Westlake Village is home to one of the most affluent demographics in Los Angeles County, with an average household income in excess of $150,000. Consistently ranked as one of the safest and most familyfriendly cities in the nation, Westlake Village historically outperforms the Conejo Valley, San Fernando Valley and Ventura markets in both rents and occupancy. 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 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. Many global and national tenants have located their national or regional headquarters in Westlake Village due to the area s highly qualified labor pool, excellent amenity base, and abundance of executive and employee housing options. Major corporate neighbors in the submarket include General Dynamics, Baxter, Amgen, Jafra, intuit, Dole, J.D. Power, Guitar Center, Securitas, move.com, Blue Cross of California and ipayment. The Westlake Village industrial market is the most expensive, but also the most desirable, industrial submarket in the larger region because of supply/demand and superb demographics. the subject s select market area is comprised of under 4.5 million square feet and less than 2% vacancy 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 Nearly 30% of these jobs are finance related and the next largest sectors are Professional (26%), Education (9%), Leisure (8%), and Retail (7%).

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

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10 CONTACT: Mike Tingus President Lic # Grant Fulkerson, SIOR Managing Director gfulkerson@lee-re.com Lic # Please note, Mike Tingus is owner of the subject property. Lee & Associates - LA North/Ventura, Inc. Corporate ID # A Member of the Lee & Associates Group of Companies Mureau Road, Suite 101 Calabasas, CA 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.