100% LEASED INDUSTRIAL BUILDING TOTALING 181,486 SF S. RIVERSIDE DR. MODESTO, CA

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1 100% LEASED INDUSTRIAL BUILDING TOTALING 181,486 SF 107 S. RIVERSIDE DR. MODESTO, CA

2 EXECUTIVE SUMMARY Newmark Knight Frank is pleased to present the opportunity to purchase a 100% leased industrial building totaling 181,486 SF in Modesto, California, one of the tightest submarkets in the desirable Central Valley. The concrete tilt-up building is situated on 7.6 acres and offers attractive features including ±6,239 SF of well-appointed office space, dock high and grade level loading, and a large paved yard. The building is leased to one long term tenant: Westland Technologies through September Westland has occupied the building for over 20 years. 107 S. Riverside Drive is strategically located in Modesto s Beard Industrial District, in the heart of California s Central Valley market. The property has excellent access to major freeways, ports, intermodals and airports servicing California. OFFERING SUMMARY OFFERING PRICE: $9,885,000 YEAR 1 NOI: $642,448 INVESTMENT THESIS 107 S. Riverside Drive offers investors an excellent opportunity to acquire a 100% leased industrial building in one of the tightest submarkets in the Central Valley. OFFERING SUMMARY 100% leased, industrial building totaling 181,486 SF Long-term tenant Strong market dynamics with low vacancy rate of 2.9% in Modesto Functional building with dock high and grade level loading and a large paved yard Strategically located in Central Valley with excellent access to major freeways, ports, intermodals and airports servicing California CAP RATE: 6.50% S. RIVERSIDE DRIVE MODESTO, CA

3 LOCAL MAP MODESTO, CA S. RIVERSIDE DR. S. RIVERSIDE DR. MODESTO, CA S. RIVERSIDE DRIVE MODESTO, CA

4 PROPERTY DESCRIPTION ADDRESS: APN: LAND AREA: RENTABLE AREA: 107 S. Riverside Drive Modesto, CA Acres YEAR BUILT: ,486 SF OCCUPANCY: 100% STORIES: 1 NUMBER OF TENANTS: 1 SURFACE PARKING STALLS: 140 SURFACE PARKING RATIO: 3.00/1,000 SF HIGHLIGHTS ±181,486 sq. ft. single-tenant concrete tilt-up manufacturing and distribution facility Building provides flexibility to be demised for multi tenancy. RAIL SERVICE AVAILABLE ±2,000 acre master planned Beard Industrial District is fully served by Modesto & Empire Traction Company (M&ET). M&ET is a short line to both BNSF Railway and UP Railroad. Beard Industrial District is the home to many food related and manufacturing companies that are reliant on rail service. For more information on the M&ET rail visit Strong Credit Tenant with Long-term Lease Westland Technologies, Inc. was founded in 1996, but the predecessor company had been located in Modesto, CA since Westland designs, develops, manufactures, and sells custom-designed products for shock and vibration dampening, and thermal insulation applications. In 1996, the year Westland took over the predecessor company was the year they moved into the building. Westland recently expanded by 45,500 sq. ft. into the remainder of the building and has a lease in place through September The company reported earnings of $27.58M according to Hoovers. CORPORATE NEIGHBORS Beard Industrial District is occupied by numerous quality corporate tenants including E&J Gallo Winery, Stanislaus Food Products, Sysco, Coca Cola, ConAgra, Nestle, Del Monte, Frito Lay, International Paper, Seneca Foods Corp., SunOpta, Sierra Pacific, Pacific Southwest Container and many more. LOCATION HIGHLIGHTS The property s location within the Beard Industrial District provides access to California s major freeways/interstates, two (2) ports, four (4) airports and a short line serving both of North America s major rail lines. The property has excellent access to major trucking arteries including interstates 5 and 580, as well as State Highways 132, 99, 108 and 33. The Industrial District is located near four airports: the Oakland and Sacramento international airports, the Stockton Metropolitan Airport and the Modesto City-County Airport, which is just four minutes away. North America s two largest rail lines Union Pacific and Burlington Northern Santa Fe both have intermodal yards located in San Joaquin County. Both of which are serviced by Modesto Empire Traction Company. MARKET HIGHLIGHTS All of the Central Valley is seeing historically low vacancy rates. Vacancy is below 5% throughout Stanislaus and San Joaquin Counties. Beard Industrial District is one of the leading submarkets with low vacancies at under 1% vacancy. The first two (2) quarters of 2017 experienced Net Absorption of over 2.5M sq. ft. Record low vacancies, large absorption numbers and growing rental rates in the Bay Area are driving speculative construction. The Central Valley is quickly the destination spot for e-commerce, distribution and manufacturing companies S. RIVERSIDE DRIVE MODESTO, CA

5 5 107 S. RIVERSIDE DRIVE MODESTO, CA

6 SITE PLAN S RIVERSIDE DRIVE Westland Technologies 181,486 SF Exp. 9/2023 Aura Hardwoods 45,500 SF Exp. 9/2017 (plan to continue to sublease from Westland Technologies) YOSEMITE BOULEVARD LAPHAM DRIVE = Grade Level Doors = Dock High Doors S. RIVERSIDE DRIVE MODESTO, CA

7 AERIAL HWY YOSEMITE BLVD. 107 S. RIVERSIDE DR. MODESTO, CA S. RIVERSIDE DR. MITCHELL RD. MODESTO CITY-COUNTY AIRPORT S. RIVERSIDE DRIVE MODESTO, CA

8 8 107 S. RIVERSIDE DRIVE MODESTO, CA

9 REGIONAL MAP Fresno Yosemite International Airport S. RIVERSIDE DR. S. RIVERSIDE DR. MODESTO, CA Livermore Tracy S. RIVERSIDE DRIVE MODESTO, CA

10 CONTACTS INVESTMENT SALES ROBERT GRIFFITH Executive Managing Director Newmark Knight Frank Newport Beach, CA (949) CA RE License # BRETT VISINTAINER, CCIM Senior Vice President Investment Division Newmark Grubb Pearson Commercial Fresno, CA (559) CA BRE License # MICHAEL GOLDSTEIN, SIOR Executive Managing Director Central Valley Colliers International Stockton, CA (209) CA RE License # CORPORATE LICENSE # The broker for a purchaser of the property shall be entitled to receive a real estate commission only in the event that broker and the property s owner execute a written commission agreement, containing the manner of calculation of that commission and all conditions to its payment, and the satisfaction of those conditions. Absent a written agreement to the contrary between that broker and NKF, that broker shall not look to NKF for payment of such a commission or any other compensation. Although all information furnished regarding property for sale, lease, or financing has been obtained from sources deemed to be reliable, that information has not been verified by NKF and no express representation is made nor is any to be implied as to the accuracy thereof. That information is subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by NKF s client.