ORGANIC BERRY HARRISON ROAD / SALINAS, CA

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1 HARRISON RD. FULL (NEW) INTERCHANGE SALA RD. OFFERING MEMORANDUM ± acres

2 415.52± acres PROPERTY OVERVIEW OVERVIEW This farmland offering totals ± acres in California s productive Salinas Valley. Highlights of the offering include (the Property ): ± gross acres with approximately 280± previously farmed acres Two productive wells with records showing combined pump rates of over 2,400 GPM Historically, the Property has been farmed for organic Strawberries and vegetable crops Site is a portion of a 671 acre master planned community development for over 1,100 units, including single family and multi-family units and other commercial developments LOCATION Northeast of Harrison Road off of Sala Road and Hwy 101 exit Monterey County, CA Site visits are by appointment only and must be coordinated through Cushman & Wakefield. Do not enter property. APN ACRES SIZE gross acres. Approximately 280± acres have been previously farmed. Parcel sizes are summarized in this table. SEE PLAT MAP EXHIBIT. ZONING TOTAL SP (Specific Plan) - Allows for continued agricultural use and future development consistent with the approved Rancho San Juan Specific Plan (Butterfly Village).

3 415.52± acres AGRICULTURAL DETAILS WATER 2 on-site wells with a combined pump rate of over 2,400 GPM CROP HISTORY Organic strawberries are currently being grown and some vegetable crops have been grown in the past. FARM LEASE The Property is leased to one tenant with two separate leases for strawberry cultivation through August 31, The leases are for a total of 214 farmable acres at an annual rent of $256,800. The rent is below market and offers significant future upside potential for investors, including the ability to plant additional crops. SOILS This fertile farmland consists entirely of loam soils. The Salinas Valley is a highly productive agricultural region known for growing a wide variety of valuable crops on its characteristic loam soils. See soils map on following page.

4 SOILS MAP ± acres

5 415.52± acres DEVELOPMENT POTENTIAL BACKGROUND The Property is part of a 671 acre master planned community development known as Butterfly Village. The Butterfly Village project is fully entitled and ready for development and building permit processing. The Director of Planning of Monterey County ratified the approval through Resolution , which was issued on July 30, There is a Development Agreement between Monterey County and H-Y-H Corporation, which vests the development rights and fees on the land for 15 years with 2 additional 5-year extensions and delineates the terms and conditions of approved Vesting Tentative Map. LAND USE The total Butterfly Village development approvals allow for 780 single-family homes, 367 multi-family attached units, 71 hospitality units (visitor accommodation/ professional offices), 90,000 square feet of neighborhood serving commercial and a 20,000 square feet health and wellness center, along with community facilities and services such as a sheriff sub-station, school and library (See tentative map on next page). UTILITIES Anticipated utilities for the project will be serviced by California Water Service Company for water, California- American Water Company for sewer, and Pacific Gas & Electric for gas and electricity.

6 ± a c re s O R GA NI C B E R RY FA RML AND T E N T A T I V E M A P NAP NAP

7 415.52± acres LOCATION OVERVIEW Monterey County is on California s Central Coast just south of the San Francisco Bay Area. The fertile Salinas Valley extends through the heart of the county, making Monterey the third largest agricultural county in California. Known as America s Salad Bowl, the Salinas Valley is an integral part of the county s agricultural industry, which is projected to exceed $5 billion in The county offers the longest coastline of any California County, affording many recreational opportunities and also attracting more than three million visitors annually to tourist destinations such as Fisherman s Wharf, Cannery Row, and Monterey Bay Aquarium. Additionally, the county has a strong wine industry that attracts many visitors to the wine trail. Northern Monterey County has seen increased housing demand as the Bay Area residential market continues to increase in value and push many potential homeowners to look for housing in neighboring communities. Ongoing improvements to Highway 101 are making buying a home in Northern Monterey County and commuting to the Bay Area an attractive option. SACRAMENTO SAN FRANCISCO SAN JOSE SALINAS MONTEREY DISTANCES CITY DISTANCE ± Salinas 4 Miles Monterey 17 Miles San Jose 45 Miles San Francisco 80 Miles LOS ANGELES ROBUST WINE INDUSTRY

8 415.52± acres REGIONAL AREA MAP Salinas Auto Mall Sala Rd. Salina Golf & Country Club Northridge Regional Westridge Mall Harden Ranch Mall

9 PLAT MAP ± acres

10 T E R M S ADDITIONAL INFORMATION A large volume of documents is available online at upon execution of a Confidentiality Agreement. PRICE The property is being offered unpriced. Strong offers will be considered by seller. DUE DILIGENCE Recommended to be 60 days or less. CLOSE OF ESCROW Seller desires a Close of Escrow no later than December 31, SITE VISITS Site visits are by appointment only and must be coordinated through Cushman & Wakefield. Do not enter subject property or interact with employees. For more information, please contact: REUBEN HELICK Managing Director (831) reuben.helick@cushwake.com CA License No MICHAEL SCHOEDER Managing Principal (831) michael.schoeder@cushwake.com CA License No MATT DAVIS Director (858) matt.davis@cushwake.com CA License No THE LAND GROUP CUSHMAN & WAKEFIELD US, INC. 1 Lower Ragsdale Drive, Bldg 1, Suite 100, Monterey, CA Lic. # CURTIS BUONO Managing Director (858) curtis.buono@cushwake.com CA License No