Vista Crossings Shopping Center

Vista Crossings Shopping Center an add value opportunity major upside opportunity high barrier to entry location all the existing tenants have renewed in the last 12 months Bay Area retail Strip center shadow anchored by lucky supermarket 751 E. Monte Vista Ave., Vacaville, CA 95688 [ www.capitalpacific.com ]

PROperty Summary The subject property is an add-value strip center shadow anchored by a lucky supermarket at a high traffic intersection in the desirable bay area market of vacaville. The asset is a 56% leased strip center with a strong existing tenant base and upside through lease up of remaining vacancy. The shopping center presents an opportunity for an investor to acquire an add-value shopping center in a very desirable bay area market at a favorable actual return with significant upside. Listing Team Contact Info Dave Lucas dlucas@capitalpacific.com (415) 274-7390 CA BRE# 01389761 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. PRICE: $3,355,000 CAP: 5.07% Proforma CAP: 10.00% Rentable SF...15,757 SF Price per SF...$212.92 land area... Approx. 1.95 AC YEAR BUILT...1989 NOI...$170,051 Occupancy...56.5% Vacant SF... 6,847 grocery Anchor...Lucky (NAP) Vista Crossings shopping center 2

core characteristics Add-value Retail strip in a lucky anchored shopping center located in a high income bay area location. Significant upside with leasing The subject property is approximately 56% leased. The upside represents an opportunity for a buyer to achieve approximately a 10% cap and a cash-oncash of over 15% through lease-up. Established Vacaville Daily Needs Center located north of Interstate 80. Vista Crossing Shopping Center is one of three major grocery anchored centers located north of Interstate 80, creating a captive customer base for a large residential population in Vacaville. Excellent Retail Location Vista Crossings Shopping Center is located just off Interstate 80 at the high traffic intersection of E Monte Vista Avenue and Depot Street with an average of 25,000 cars daily at the intersection. A new construction CVS anchored center was developed diagonally across from the property, illustrating the desirability of this high identity intersection. 110,000 residents within a 5-mile radius with average household incomes of approximately $90,000 Established Grocery Anchor Vista Crossings Shopping Center has been anchored by a full service grocery store since 1989 and remains the top full service grocer in the immediate trade area. Strong Bay Area Demographics There are approximately 110,000 people located within a 5-mile radius with an average household incomes exceeding $90,000. The city is located approximately 35 miles from Sacramento and approximately 55 miles from San Francisco. Vacaville is regarded as the most desirable city in Solano County. Great accessibility The subject property has four total ingress/egress points and dedicated left hand turn access off of East Monte Vista Ave. Vista Crossings shopping center 3

Retail aerial Vi 10 sta R D oad A IL Y Bro w Pa ns V rkw alle ay y te Vacaville High School NUT TREE PLAZA 505 ns e Country High School so tre E Monte et n Driv Ma Vista R oad 80 Alliso et t Stre han Merc Br 9,9 Ma Averkham nue downtown vacaville NUT TREE AIRPORT 0,9 0D AI ow LY ns tre et on 19 VISTA CROSSINGS bins M Dob W Stre et Vista Crossings Shopping Center is located at a top five retail intersection in vacaville, ca 80 VACAVILLE COMMONS Dr ive Will C. Wood High School lis on VACAVILLE PREMIUM OUTLETS Fairmont Charter School Peabod y Road d a Ro New CVS Development at subject property intersection GREEN TREE GOLF CLUB Al ira Elm Eugene Padan Elementary 80 Cooper Elementary SAN FRANCISCO Vaca Pena Middle School Vista Crossings shopping center 4

photos Subject is shadow anchored by a lucky super market Vista Crossings shopping center 5

income & expense PROJECTED PROJECTED Current Proforma* Current SELLOUT Price SELLOUT Price Price: $3,355,000 $3,466,525 $5,330,803 Original Loan Amount $2,180,750 $3,465,022 Capitalization Rate: 5.07% 10.00% 6.50% Loan to Value 65% 65% Price Per Square Foot: $212.92 $220.00 $338.31 Interest Rate 4.40% 4.40% Down Payment 35% $1,174,250 $1,285,775 $1,865,781 35% Amortization 25 Year 25 Year Loan Amount 65% $2,180,750 $2,180,750 $3,465,022 65% Term 7 Year 7 Year Total Leased (SF): 56.55% 8,910 15,757 15,757 Net Operating Income $170,051 $346,502 Total Vacant (SF): 43.45% 6,847 0 0 Debt Service ($143,974) ($228,763) Total Rentable Area (SF): 100.00% 15,757 15,757 15,757 Pre-Tax Cash Flow $26,076 $117,739 INCOME Per Square Foot Debt Coverage Ratio 1.18 1.51 Scheduled Rent* $23.12 $205,962 $205,962 $205,962 Vacant Space at Market Rent $25.15 $0 $172,218 $172,218 Cash-on-cash Return 2.22% 9.16% Expense Recovery - Current (56.55% TICAM) $4.56 $40,607 $40,607 $40,607 Principal Pay down (Year 1) $49,002 $49,002 Expense Recovery on Vacancy (43.25 TICAM) $4.56 $0 $31,201 $31,201 Total Return $75,078 $166,741 CAM Admin Fee (10% admin fee) $0.46 $4,061 $7,181 $7,181 Yield 6.39% 12.97% EFFECTIVE GROSS INCOME $250,631 $457,169 $457,169 Vacancy Factor (5%) $0 ($22,858) ($22,858) ADJUSTED GROSS INCOME $250,631 $434,311 $434,311 *Lease Up Costs (included in proforma) Leasing Commissions (25% of Year 1) $43,055 EXPENSE (2015 Annualized) Tenant Improvement ($10/Sf) $68,470 Property Taxes ($1.82) ($28,740) ($28,740) ($28,740) Total Lease Up Costs $111,525 Increase in Property Taxes ($0.41) ($6,405) ($6,405) ($6,405) Total Lease Up Costs/SF $16.29 Insurance ($0.17) ($2,710) ($2,710) ($2,710) Common Area Electricity ($0.20) ($3,218) ($3,218) ($3,218) Fire/Life/Safety Monitoring ($0.05) ($816) ($816) ($816) Roof Maintenance ($0.01) ($112) ($112) ($112) Landscaping ($0.08) ($1,205) ($1,205) ($1,205) Site Maintenance ($0.15) ($2,414) ($2,414) ($2,414) Trash Management ($0.27) ($4,301) ($4,301) ($4,301) Water/Sewar ($1.36) ($21,502) ($21,502) ($21,502) Pest Control ($0.02) ($386) ($386) ($386) Management Fee (3.5% of EGI) ($0.56) ($8,772) ($16,001) ($16,001) TOTAL OPERATING EXPENSES ($5.11) ($80,580) ($87,809) ($87,809) NET OPERATING INCOME $170,051 $346,502 $346,502 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Vista Crossings shopping center 6

rent roll TENANT INFO All the existing tenants have renewed in the last 12 months LEASE TERMS RENTal Rates COMMENTS Unit Tenant Sq. Ft. Percent of Lot Term Monthly Rent Annual Rent Rent/FT/YR Comments 751 Chef Chen 1,668 10.59% 03/01/01 04/30/26 $3,752.80 $45,033.60 $27.00 (1) 5 year Option at FMV Personally guaranteed Increase 05/01/18 04/30/21 $3,865.38 $46,384.61 $27.81 Increase 05/01/21 04/30/23 $3,981.35 $47,776.15 $28.64 Increase 05/01/23 04/30/25 $4,100.79 $49,209.43 $29.50 Increase 05/01/25 04/30/26 $4,223.81 $50,685.71 $30.39 Option 05/01/26 04/30/31 FMV 751 -B Boost Mobile 990 6.28% 04/01/15 03/31/21 $1,534.50 $18,414.00 $18.60 (1) 3 year option with $0.60 annual increases 5 Starwireless LLC Increase 04/01/16 03/31/17 $1,732.50 $20,790.00 $21.00 Increase 04/01/17 03/31/18 $1,782.00 $21,384.00 $21.60 Increase 04/01/18 03/31/19 $1,832.25 $21,987.00 $22.21 Increase 04/01/19 03/31/20 $1,881.00 $22,572.00 $22.80 Increase 04/01/20 03/31/21 $1,930.50 $23,166.00 $23.40 Option 1 04/01/21 03/31/24 755 Tobaccoville 1,360 8.63% 04/01/15 03/31/20 $3,056.00 $36,672.00 $26.96 (1) 5 year option with 4% annual increases Personally guaranteed Increase 04/01/16 03/31/17 $3,178.24 $38,138.88 $28.04 Increase 04/01/17 03/31/18 $3,305.37 $39,664.44 $29.17 Increase 04/01/18 03/31/19 $3,437.58 $41,251.01 $30.33 Increase 04/01/19 03/31/20 $3,575.09 $42,901.05 $31.54 Option 1 04/01/20 03/31/25 $3,718.09 $44,617.10 $32.81 757 Touchdown Wireless 1,064 6.75% 10/15/03 MTM $1,330.00 $15,960.00 $15.00 No Options Karaja Enterprises, Inc. 759 Custom Cleaners 1,755 11.14% 08/29/97 02/28/25 $3,510.00 $42,120.00 $24.00 No Options Personally guaranteed Increase 03/01/18 02/28/19 $3,580.20 $42,962.40 $24.48 Increase 03/01/19 02/28/20 $3,651.80 $43,821.65 $24.97 Increase 03/01/20 02/28/21 $3,724.84 $44,698.08 $25.47 Increase 03/01/21 02/28/22 $3,799.34 $45,592.04 $25.98 Increase 03/01/22 02/28/23 $3,875.32 $46,503.88 $26.50 Increase 03/01/23 02/28/24 $3,952.83 $47,433.96 $27.03 Increase 03/01/24 02/28/25 $4,031.89 $48,382.64 $27.57 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Vista Crossings shopping center 7

rent roll All the existing tenants have renewed in the last 12 months TENANT INFO LEASE TERMS RENTal Rates COMMENTS Unit Tenant Sq. Ft. Percent of Lot Term Monthly Rent Annual Rent Rent/FT/YR Comments 761 Pro Nails 910 5.78% 03/01/15 02/28/20 $2,000.00 $24,000.00 $26.37 (1) 5 year option Personally guaranteed Increase 04/01/16 02/28/17 $2,060.00 $24,720.00 $27.16 Increase 04/01/17 02/28/18 $2,121.80 $25,461.60 $27.98 Increase 04/01/18 02/28/19 $2,185.45 $26,225.45 $28.82 Increase 04/01/19 02/28/20 $2,251.02 $27,012.21 $29.68 Option 1 04/01/20 02/28/25 763 Vacant 1,210 7.68% $2,722.50 $32,670.00 $27.00 767 Solano Coin 1,163 7.38% 09/01/10 12/31/17 $1,600.00 $19,200.00 $16.51 (1) 3 yearoption Aureo OmniCorp, Inc. Option 1 01/01/18 12/31/20 771 vacant 1,420 9.01% $3,195.00 $38,340.00 $27.00 773 vacant 2,040 12.95% $4,080.00 $48,960.00 $24.00 775 vacant 2,177 13.82% $4,354.00 $52,248.00 $24.00 Current Totals: 15,757 100.00% Occupied 8,910 56.55% 2016 Total Monthly Gross Rent: $17,163.54 Vacant 6,847 43.45% 2016 Total Annual Gross Rent: $205,962.48 2016 PROFORMA Monthly Gross Rent: 2016 PROFORMA Annual Gross Rent: $14,351.50 $172,218.00 Vista Crossings shopping center 8

site plan Vineyard Valley Way 767 Vacant - 771 Vacant - 773 Vacant - 775 NOT A PART Site Plan Key Parcel outline: Land Area: 2.4 AC Tobaccoville Vacant - 763 761 759 757 755 751 - B 751 747 745 743 Reciprocal Parking Markham Avenue 9,900 DAILY Building Area: 20,307 sf Ingress/Egress: 741 19,910 DAILY E Monte Vista Avenue This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. Vista Crossings shopping center 9

captive customer base in Vacaville north of I-80 Lucky and Nugget Market are the only full-service grocery stores north of Interstate 80. Interstate 80 is difficult to cross because there are only a few under and overpasses, which are often congested during rush hour. This makes Vista Crossings Shopping Center geographically convenient and appealing to the large number of households north of Interstate 80. Subject property Lucky is the grocery anchor of Vista Crossings shopping center Vista Crossings shopping center 10

tenants Boost Mobile - Entity: 5 Starwireless LLC Boost Worldwide, Inc. is a cell phone provider brought to the United States in 2001 as a joint venture with Nextel Communications. In 2006, Sprint corporation acquired Nextel Communications, leaving Boost Mobile as a subsidiary of the Sprint Nextel Corporation. Boost Mobile offers cell services and products such as a vareity of cel phones as well as monthly and daily unlimited cell plans. metro pcs - Entity: Karaja Enterprises, Inc. MetroPCS is a prepaid wireless service that is part of T-Mobile US, Inc. The company provides nationwide talk, text, and data depending on the plan services. MetroPCS previously operated the sixth largest mobile telecommunications network in the U.S. using code division multiple access technology. In 2012, MetroPCS Communications and T-Mobile USA, Inc. merged to become T-Mobile US, Inc. The company is publically traded on the NYSE as TMUS. Solano Coin Solano Coin, Gold & Silver offers a convenient way for people to sell any unwanted or broken jewelry, old scrap gold/ silver, gold/silver coins, bullions, or diamonds. Customers can drop by anytime to get an appraisal for their gold/silver products. The company currently has two locations, one in Vacaville and one in Napa. Custom Cleaners Custom Cleaners offers a variety of top notch dry cleaning services, including dry cleaning, alterations, comforter cleaners, wash and fold, rug cleaning, and wedding gown cleaning. They have over 23 years of experience in the industry and offer only the highest quality services. Vista Crossings shopping center 11

tenants Chef Chen is a local Chinese restaurant that offers delivery and pickup services. This is currently their only location. Pro Nails is a small local nail salon that offers typical salon services. Their services range from gel and acrylics nails to waxing. They are open seven days a week and offer their high quality services at affordable prices. TOBACCOVILLE Tobaccoville is a local smoke shop that offers a wide array of products from water bongs to tobacco products. This is currently their only location. Vista Crossings shopping center 12

location & demographics Vista Crossings Shopping Center Population 1-Mile 3-Mile 5-Mile 2010 14,257 88,766 102,833 2015 14,371 89,131 105,508 2020 14,688 91,409 109,528 2015 Household incomes 1-Mile 3-Mile 5-Mile Average $63,428 $87,530 $90,371 sacramento Top Employers in vacaville 37 min 34 miles California Medical Facility Gbg Corp Genetech Inc. M&G Dura Vent Inc. Northbay Vacavalley Hospital Vacaville City Hall Westrust-Nut Tree 57 min 54 miles vacaville San Francisco Vista Crossings shopping center 13

location Vacaville premium Outlets About vacaville, ca Vacaville is located within Solano County, approximately halfway between San Francisco and Sacramento near the highly sought after Northern California wine country. The city is comprised of just under 27 square miles bordered by beautiful rolling hills, fruit orchards, and farmland. Vacaville boasts affordable housing, top quality schools, a variety of youth activities, and numerous annual community events. LOCATED halfway between san francisco and sacramento Solano Community College has a growing campus in Vacaville, with over 13,000 students enrolled, many of whom call Vacaville home. Vacaville is also approximately a 20 minute drive from UC Davis, one of the nation s top public research universities. Vacaville is a thriving and progressive city with prominent commercial, agricultural, and industrial industries. Residents and visitors also enjoy Vacaville s thriving retail district, which includes one of the largest factory outlet malls in California: the Vacaville Premium Outlets, which attract over seven million visitors each year. Vista Crossings shopping center 14

photos Retailers in the area include a new cvs anchored center at the subject property intersection Vista Crossings shopping center 15

photos Subject property is located at the high traffic intersection of east monte vista ave and depot st. Vista Crossings shopping center 16

19,910 DAILY A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ www.capitalpacific.com ] Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. Dave Lucas dlucas@capitalpacific.com (415) 274-7390 CA BRE# 01389761 chris kostanecki zeb ripple chris peters john andreini zandy smith joe caccamo rick sanner gregg steele jack navarra karla zens [ Copyright 2016 Capital Pacific ]