OFFER DUE DATE: APRIL 11, 2014

Similar documents
FOR SALE ±8.87 ACRE DEVELOPMENT SITE FOR MULTIFAMILY, RETAIL AND OTHER USES

SUBJECT SITE UCLA WESTWOOD VILLAGE. :: Mark Ventre Senior Sales Director Lic

S. SURFSIDE DRIVE - PORT HUENEME, CA

100% LEASED CLASS A OFFICE BUILDING WITH LONG-TERM INVESTMENT GRADE CREDIT WESTLAKE VILLAGE, CA

$3,575,000 UNIQUE PURCHASE OPPORTUNITY 1407 TRUMAN STREET SAN FERNANDO, CA

for lease 3,112 SF Office suite In Prime California Heights

321 West 1 st Street Oxnard, California 93030

exclusive development offering

FOR SALE > ±1,571-12,290 SF OFFICE CONDOMINIUMS RARE NEWPORT BEACH OPPORTUNITY Irvine Avenue, Newport Beach, CA NEWPORT BEACH, CA

FOR SALE > ±1,571-12,290 SF OFFICE CONDOMINIUMS RARE NEWPORT BEACH OPPORTUNITY Irvine Avenue, Newport Beach, CA NEWPORT BEACH, CA

FOR SALE > ±1,571-8,628 SF OFFICE CONDOMINIUMS RARE NEWPORT BEACH OPPORTUNITY Irvine Avenue, Newport Beach, CA NEWPORT BEACH, CA

Prime Multi-Family / Commercial Development Site 1.96 ACRES

FOR sublease. 1,000 SF (Approx.) Retail Space. Long Beach Blvd.

FREESTANDING BUILDING GREAT STREET FRONTAGE FULLERTON :: CALIFORNIA

HUNTINGTON DRIVE ARCADIA CALIFORNIA. Prime Arcadia Retail/Office Sale Opportunity on Historic Route 66. Presented by

M-54 ZONED - MULTIPLE COMMERCIAL BUILDINGS WITH OUTDOOR STORAGE YARD

FOR SALE > ±1,091-6,312 SF OFFICE CONDOMINIUMS RARE NEWPORT BEACH OPPORTUNITY Irvine Avenue, Newport Beach, CA NEWPORT BEACH, CA

FOR SALE > ±1,091-6,312 SF OFFICE CONDOMINIUMS RARE NEWPORT BEACH OPPORTUNITY Irvine Avenue, Newport Beach, CA NEWPORT BEACH, CA

FOR LEASE FROM 2,500 to 23,184 SQUARE FEET OF RETAIL SPACE AVAILABLE

CONTACT US FOR LEASE 4603 MISSION BLVD SAN DIEGO (PACIFIC BEACH), CALIFORNIA SAN DIEGO RETAIL LEASING SPECIALISTS JOEL WILSON

1636 NORTH VENTURA AVENUE

RETAIL INVESTMENT VAN NESS AVENUE GARDENA, CA 90249

SUNRISE PLAZA GREENBACK LANE CITRUS HEIGHTS :: CALIFORNIA AVAILABLE ±8,000 SQ. FT. FOR LEASE

1636 NORTH VENTURA AVENUE

FOR SALE S. PARK AVENUE PRIME OWNER/USER OPPORTUNITY ± 4,921 OFFICE BUILDING. CLASS B GARDEN OFFICE Great Downtown Pomona Location ADJACENT PARKING

Manhattan Beach. Mike Rossi BRE: Commercial Investments Cell:

FOR SALE 30,843 SF OFFICE BUILDING CENTERPOINTE PLAZA NORTH ACADEMY BOULEVARD COLORADO SPRINGS, CO 80918

COMING SOON SKI RUN CENTER SUBJECT.

LINCOLN WAY 7441 Lincoln Way, Garden Grove, CA OFFICE INVESTMENT OPPORTUNITY

moorpark Plaza 510 New Los Angeles Avenue Moorpark, CA Offering Memorandum

COMMERCIAL LAND FOR SALE OR BUILD-TO-SUIT

University Shopping Center

Executive summary. PROPERTY ADDRESS Workman Street, Covina CA ASKING PRICE $4,490,000 ($ PSF) INTEREST OFFERED

COMMERCIAL & RESIDENTIAL DEVELOPMENT OPPORTUNITY CAPITAL BOULEVARD & JENKINS ROAD Wake Forest, NC 27587

$4,500,000 FOR SALE. 897 Granite Drive. Pasadena, CA Classic Office Property. User/Investor/Development Potential. South Lake District

DRAFT CONTACT US. LAND FOR SALE SEC Fir & Erle Roads at Highway 70 OLIVEHURST, CALIFORNIA ±1.41 ACRE HIGHWAY COMMERCIAL LAND

E FLORENCE AVE. LOS ANGELES, CA 90001

6200 & 6240 BOX SPRINGS BLVD. RIVERSIDE, CA

INDEX INDEX DECEMBER 2014

17721 SHERMAN WAY > OFFERING MEMORANDUM RESEDA, CALIFORNIA TEAM GHOBADI

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

LAS VEGAS NEVADA MULTIFAMILY MARKET NARRATIVE 1Q2017. Capit al M ar ke t s M ulti f amil y

FOR LEASE. Paradise Plaza ODDIE BLVD., SPARKS, NV UNDER NEW OWNERSHIP.

Ventura Ave. Ventura, CA 93001

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL DEVELOPMENT OPPORTUNITY TH STREET SOUTH Lakewood, WA 98499

FOR LEASE GROUND FLOOR. San RESTAURANT OPPORTUNITY RESTAURANT AVAILABLE 5,702 SF 1230 COLUMBIA STREET. Diego, California 1230 COLUMBIA STREET FEATURES

NEW CLASS A INDUSTRIAL MANUFACTURING CAMPUS

TRANSIT ORIENTED DEVELOPMENT SITE

NNN Ground Lease Investment

E. HIGHLAND AVE SAN BERNARDINO, CA 92404

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

A n E x c e p t i o n a l S o u t h o f M a r k e t R e d e v e l o p m e n t O p p o r t u n i t y o r O w n e r / U s e r B u i l d i n g 3 4 H A R

CONTACTS. CHRIS PASCALE Lic RYAN EGLI Lic

3666 Regal Place OFFERING MEMORANDUM LOS ANGELES, CA OFFERING MEMORANDUM PRESENTED BY:

9616 LONG BEACH BLVD. SOUTH GATE, CA 90280

Ventura Ave. Ventura, CA 93001

Your Southern California Shopping Center Management & Leasing Partner. Signalized Intersection of Washington Blvd. + Greenwood Ave. AREA AMENITIES...

1400 Edgewood Way Oxnard, CA 93030

LONG BEACH BLVD. SOUTH GATE, CA 90280

11747 E. CARSON STREET

FOR LEASE NORDHOFF STREET CHATSWORTH, CA 91311

OVERVIEW OF RECENT/EXPECTED ECONOMIC/ HOUSING MARKET CONDITIONS

Vista Pacific Residences Approved 16 Single Family Detached Homes Site Rancho del Oro Drive, Oceanside, CA 92056

Ventura Boulevard Old Town Camarillo, California Available Space

Lincoln Blvd

5270 Bellingham Avenue

MIRASOL STREET

TONY DORN

WATERFRONT RESTAURANT OPPORTUNITY

William B. Althouse. Brian C. Peterson Executive Vice President Alexander B. Sachs 5147 WASHINGTON BOULEVARD. Executive Vice President

651 BELLEFONTAINE ST. PASADENA, CA

PNC CENTER CINCINNATI, OHIO 201 EAST FIFTH STREET CINCINNATI, OHIO 45202

for sale or Lease Cherry Ave. 3,641 SF Medical Office Space

Camarillo Business Center 760 Paseo Camarillo

FOR LEASE. Paradise Plaza ODDIE BLVD., SPARKS, NV

1310 S. St. Andrews Pl.

th avenue west. lynnwood, wa

1702 N. Long Beach Boulevard COMPTON, CA 90221

FOR LEASE RETAIL 1,200-5,000 SF (Approx.)

CONTACT US FOR LEASE CORONADO PLAZA ORANGE AVENUE, CORONADO, CA R.H. DANA PLACE ORANGE AVENUE CHURCHILL PLACE

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

101,766 SF GROCERY ANCHORED RETAIL CENTER

3730 DUFRESNE COURT 3754 S SEPULVEDA BOULEVARD A TWO PROPERTY, 60 UNIT, MULTI-HOUSING INVESTMENT OPPORTUNITY IN WEST LOS ANGELES, CA HFFLP.

Canwood Agoura Hills Canwood Street. Agoura Hills, CA 91301

Canyon Ridge Business Park

Long Island City s Fastest Growing Neighborhood BORDEN AVENUE SIX STORY PROMINENT LIC LOFT BUILDING FOR PARTIAL LEASE LONG ISLAND CITY, NY

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

CORPORATE WOODS OFFICE BUILDING FOR SALE

±86 ACRES OF LAND EL CENTRO ROAD & SAN JUAN SACRAMENTO, CA CONTACT US FOR SALE. SITE

±26,158 SF AVAILABLE S. MARKET STREET SAN JOSE, CA

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

FOR LEASE El Cajon Blvd San Diego, CA Erik Egelko Vice President CA DRE #

FREE STANDING BUILDING FOR SALE ON VENTURA BLVD

2013 San Diego Economic Outlook. 29 th Annual Economic Roundtable Marney Cox Chief Economist San Diego Association of Governments January 25, 2013

OFFERING MEMORANDUM 999 MEDICAL OFFICE ~14,000 SF MEDICAL OFFICE FOR SALE 999 N. TUSTIN AVE., SANTA ANA

Carlsbad Pacific Center

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

LA TERRAZA BLVD. Premier Class A Office Building

$450,000 FOR SALE LAND +/ ACRES TH STREET, BAKERSFIELD, CA PROPERTY DETAILS

Transcription:

Capital Markets FOR SALE ±8.87 ACRE MULTI-FAMILY RESIDENTIAL DEVELOPMENT SITE 2 4 20 N. OXNARD BOULEVARD :: OFFER DUE DATE: APRIL 11, 2014 OXNARD, CALIFORNIA Multi-Housing Group SUBJECT PA C I F I C O C E A N : : Laurie Lustig-Bower Executive Vice President Lic. 00979360 +1 310 550 2556 laurie.lustig-bower@cbre.com : : Kamran Paydar Senior Sales Director Lic. 01242590 +1 310 550 2529 kamran.paydar@cbre.com : : Nancy Badzey Senior Marketing Director Lic. 01263701 +1 310 550 2568 nancy.badzey@cbre.com : : Paul Farry Senior Vice President Lic. 00941298 +1 805 465 1615 paul.farry@cbre.com

THE OPPORTUNITY CBRE, Inc. is pleased to present for sale 2420 N. Oxnard Boulevard in the desirable coastal city of Oxnard, Ventura County, California. The Property, an ±8.87 acre site which formerly was leased to a Levitz furniture store is currently vacant and presents an excellent opportunity for a multi-family development. Located at the junction of the Ventura 101 Freeway and Pacific Coast Highway (Highway 1), the Property is within walking and convenient driving distance of employment, higher education, shopping, dining, and magnificent recreational amenities. University of La Verne, the prestigious high-rise Topa Financial Plaza office complex, The Tower Club private member social club, and several recreational parks are proximate to the Property. Esplanade Shopping Center, directly across the street from the Property, features the following stores: Target, The Home Depot, Cost Plus World Market, Nordstrom Rack, LA Fitness, and more. Besides Esplanade Center, there are numerous other shopping centers in the area. Nearby recreational amenities abound including the Pacific Ocean, Orchard Park, Sierra Linda Park, Oxnard Beach Park, Mandalay County Beach Park, golf courses, and beautiful Channel Islands and Ventura Harbors providing watercraft access to the ocean and Channel Islands National Park. The property is being marketed un-priced. The offer due date is Friday, April 11, 2014. 2420 N. OXNARD BOULEVARD 2

PROJECT OVERVIEW Property Address: Lot Area: 2420 N. Oxnard Boulevard, Oxnard, CA 93036 ±8.87 Acre ±386,377 SF APN: 142-0-021-010; 142-0-010-345 Existing Improvements: Zoning: ±167,728 SF Retail Building (Built in 1971 former Levitz Furniture Store- Now Vacant) C-2 PDAH Floor Area Ratio: No restrictions Height Limit: No restrictions Est. Number of Developable Units: Price: Zoning allows for residential density of 18 units per acre. City of Oxnard may be favorable to allowing density of 24 (or more) units per acre. The property is un-priced. Buyers should make their offers based upon their valuation. Offers Due: April 11, 2014 2014 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. N:\Team-Marketing\NB Desktop\_GLA\Downtown LA\2420 N Oxnard Boulevard - REF# 72072\OM_2420 N Oxnard Boulevard_v03AS.indd 2420 N. OXNARD BOULEVARD 3

PLAT MAP 2420 N. OXNARD BOULEVARD 4

PROPERTY SITE SURVEY 2420 N. OXNARD BOULEVARD 5

LOCAL RETAIL AMENITIES Esplande - Walkable Shopping Center Aerial 2420 N. OXNARD BOULEVARD 6

LOCAL RETAIL AMENITIES Oxnard Shopping Centers Layout ID:L01 MapId:1722364 2420 N. OXNARD BOULEVARD 7

REGIONAL MAP SUBJECT PACIFIC OCEAN 2420 N. OXNARD BOULEVARD 8

MARKET OVERVIEW Outstanding Location Greater Los Angeles population is projected to increase by nearly 2,500,000 people over the next 10 years. Due to the scarcity of large tracts of land, new housing has been forced into inland locations such as the Inland Empire (western area of Riverside and San Bernardino counties) and portions of northern Los Angeles County. These inland areas may be considered inferior to the coastal areas of Los Angeles, Orange, Ventura and Santa Barbara counties because they lack the quality of life and cooler climate conditions. Favorable Growth Trends With a population of nearly 17 million, Greater Los Angeles continues to experience a tremendous growth in housing demand, due to favorable economic conditions, a diverse skilled labor pool and excellent quality of life. Los Angeles, Orange, Ventura and Santa Barbara counties will be constrained by this continued growth due to geographical and political restrictions and the lack of large land parcels. Since 2012, Oxnard has completed 134,000 square feet of office space according to Econometric Advisors, a CBRE forecasting and research website. In 2013, office vacancy also decreased by 4% as compared to 2012 s office vacancy. Future office growth fosters higher living demand in the City of Oxnard. The greater the workforce, the greater the demand for housing will be. With little new housing constructed in the county since 2008, a population to housing imbalance has been created that will require resolution in the coming years. Best Transportation Amenities in Ventura County The Property is adjacent to the newly expanded Ventura (101) Freeway, a major transportation corridor for Ventura County Oxnard Regional Airport: The only commercial passenger airport in all of Ventura County Only 9 minutes southwest of subject Property Amtrak, Union Pacific, Metrolink, & Greyhound transportation provides residents with an efficient manner of commuting to the Los Angeles Basin, including Downtown Los Angeles Demographics Within a 5 mile radius: 2013 Population....275,862 Population Growth from 2010 2013......2.51% Projected Population Growth from 2013 2018...4.25% Median Age 33 Average Age.. 35 Ventura County: Median Household Income.over $75,000 Median Household Income is about $14,500 higher than State average household income. Major Employment Industries..Federal government, financial services, information technology, biotechnology Percentage of Young Workers...39% Of all six major cities in Ventura County (Oxnard, Ventura, Camarillo, Thousand Oaks, Moorpark and Simi Valley), Oxnard has the highest percentage of young workers (ages 18 to 44). Young employed adults prefer to rent rather than own. Education in Ventura County: Number of high school graduates has been at record levels since the 2007 2008 school year. More graduating students entering labor force than ever before. 31% of the population aged 25 or older have obtained at least a four year college degree, slightly higher than Los Angeles County and the State as a whole. City of Oxnard Part of the Greater Los Angeles area 9th most populous city in California and the most populous city in Ventura County 2013: Oxnard ranked as one of the safest cities in America due to lower violent crime rates than the national average rate. 2420 N. OXNARD BOULEVARD 9

RESIDENTIAL DEVELOPMENT PROJECT LIST - CITY OF OXNARD Projects over 100 units - Sorted by Number of Units PROJECT APN ADDRESS DESCRIPTION TOTAL UNITS Celadon II/Pacific Crossing RiverPark Dist H-1 Morning View RiverPark Dist H-4 THE LOFTS AFFORDABLE SENIOR APARTMENTS 133011031 Nile River Dr 104 single family detached homes; NWC of Nile River Dr. & Owens River Dr. 133024203 Tiber River Wy 113 detached single family homes. (South of Tiber Way at N. Oxnard Blvd.) 202019137 300 W Ninth St Conversion of existing 52,000 sf industrial building into 115 affordable senior apartments. AFFORDABLE 104 0 113 0 115 115 Victoria/Hemlock 187006009 1830 S Victoria Av 116 condominium dwelling units. 116 0 Wagon Wheel Development Project, 1st Phase Affordable Replacement Housing Phase 1 implementation of Las Cortes Specific Plan Vista Urbana RiverPark- Lot 18 139002220 886 Wagon Wheel Rd Construction of 120 housing units (1, 2 & 3 bedrooms), recreation/meeting room, tot lot, and landscaped paseo. Includes one caretaker unit. 201008002 Between First Street, Marquita St., Bernarda Ct. 132032006 SE Riverpark Bl & American River Ct 144 affordable apartments and one community center on 10.4 acres. 156 Residential units (13(3 story) builindgs with 12 units in each on 6.58 acre site and public park (Children's Park) on 0.43 acres parcel. RiverPark-Luminaria-T5538, District G-2 132027227 Garonne St 187 single family attached dwelling units. Bounded by Garrone/Forest Park Blvd/Ventura Rd Ventura/Vineyard Homes 179004017 1801 W Vineyard Av 126 two-story clustered homes and 75 single family dwellings. RiverPark: Mosaic Apartments RiverPark: Tempo Apartments 132023019 Forest Park Bl 224 apartments (3 story buildings) with garages, carports & recreation facilities. SW corner Oxnard Bl & Forest Park Bl. Also 132011007. 132023016 SW corner Oxnard Bl & Forest Park Bl 235 apartments (3 story buildings) with garages & recreation facilities. SW corner Oxnard Bl & Forest Park Bl. Also APN 1320110095 North Shore Subdivision 183001074 198 S Harbor Bl 183 single-family homes, 109 detached condos, and on-site amenities. Northeast corner of W. Fifth St. & Harbor Blvd. 120 119 144 144 156 0 187 0 201 20 224 0 235 0 292 0 2420 N. OXNARD BOULEVARD 10

2013 RENT COMPARABLES - VENTURA COUNTY 2420 OXNARD BOULEVARD SELECT RENT COMPARABLES 1 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF VILLAS AT THE PARK 313 Westpark Court 1 + 1 $1,575 $1,575 849 849 $1.86 $1.86 Camarillo, CA 93012 2 + 1.5 TH $1,800 $1,800 1,077 1,077 $1.67 $1.67 Year Built: 2008 Units: 58 805.482.8981 Amenities: Controlled Access Above Standard Ceiling Height Full Covered Parking Microwave Ovens Individual A/C High Speed Internet Access Individual Heat Full Size Washer/Dryer In All Units 2 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF CORTE MADERA 5240 Corte Bocina 2 + 2 $1,915 $1,990 1,020 1,109 $1.88 $1.79 Camarillo, CA 93012 Year Built: 2001 Units: 160 888.857.3680 Amenities: Controlled Access Laundry Facilities Microwave Ovens Fitness Center Central A/C High Speed Internet Access Playground Individual Heat Swimming Pool Stacked Washer/Dryer In All Units Spa Fireplaces 3 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF VANONI RANCH 10676 Veronica Lane 1 + 1 $1,445 $1,445 768 768 $1.88 $1.88 Ventura, CA 93004 2 + 2 $1,687 $1,916 1,064 1,080 $1.59 $1.77 Year Built: 2005 2 + 2.5 TH $1,994 $2,033 1,096 1,426 $1.82 $1.43 Units: 316 3 + 2 $2,206 $2,206 1,337 1,337 $1.65 $1.65 Occupancy: 99% 805.647.7171 Amenities: Fitness Center Spa Fireplaces Available in Select Units Business Center Partial Covered Parking Vaulted Ceilings Clubhouse Individual A/C Above Standard Ceiling Height Playground Individual Heat Microwave Ovens Swimming Pool Stacked Washer/Dryer In All Units High Speed Internet Access 2420 N. OXNARD BOULEVARD 11

2013 RENT COMPARABLES - VENTURA COUNTY 2420 OXNARD BOULEVARD SELECT RENT COMPARABLES 4 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF ALLURE AT CAMARILLO 390 Paseo Camarillo 1 + 1 $1,500 $1,635 746 803 $2.01 $2.04 Camarillo, CA 93010 2 + 2 $1,755 $1,900 1,032 1,043 $1.70 $1.82 Year Built: 2004 Units: 165 855.306.9093 Amenities: Controlled Access Swimming Pool Full Size Washer/Dryer In All Units Fitness Center Spa Vaulted Ceilings Business Center Partial Covered Parking Microwave Ovens Clubhouse Individual A/C High Speed Internet Access Playground Individual Heat 5 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF AVALON CAMARILLO 1571 Flynn Road 1 + 1 $1,530 $1,555 697 802 $2.20 $1.94 Camarillo, CA 93012 2 + 2 $1,815 $1,980 1,004 1,131 $1.81 $1.75 Year Built: 2006 2 + 2.5 TH $2,020 $2,020 1,183 1,183 $1.71 $1.71 Units: 236 3 + 2 $2,200 $2,200 1,249 1,249 $1.76 $1.76 3 + 2 TH $2,400 $2,400 1,465 1,465 $1.64 $1.64 805.388.7360 Amenities: Waterscape Swimming Pool Full Size Washer/Dryer In All Units Fitness Center Spa Above Standard Ceiling Height Business Center Full Covered Parking Microwave Ovens Clubhouse Private Balcony/Patio High Speed Internet Access Playground Individual Heat 6 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF RALSTON COURTYARDS 5525 Ralston Street 1 + 1 $1,485 $1,565 684 732 $2.17 $2.14 Ventura, CA 93001 2 + 2 $1,795 $1,960 859 915 $2.09 $2.14 Year Built: 2011 Units: 108 805.856.3456 Amenities: Fitness Center Individual A/C 7/12/2012 Clubhouse Individual Heat Swimming Pool Stacked Washer/Dryer In All Units Spa Microwave Ovens Full Covered Parking High Speed Internet Access 2420 N. OXNARD BOULEVARD 12

2013 RENT COMPARABLES - VENTURA COUNTY 2420 OXNARD BOULEVARD SELECT RENT COMPARABLES 7 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF ARBORS AT PARC ROSE 1500 Tulipan Circle 1 + 1 TH $1,609 $1,609 988 988 $1.63 $1.63 Oxnard, CA 93030 2 + 2 TH $1,737 $1,847 1,190 1,412 $1.46 $1.31 Year Built: 2001 3 + 2 TH $2,209 $2,209 1,517 1,530 $1.46 $1.44 Units: 373 3 + 3 TH $2,237 $2,247 1,534 1,534 $1.46 $1.46 805.278.1500 Amenities: Fitness Center Spa Monitored Security Business Center Full Covered Parking Fireplaces Clubhouse Individual A/C Vaulted Ceilings Playground Individual Heat Microwave Ovens Swimming Pool Full Size Washer/Dryer In All Units High Speed Internet Access 8 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF SERENADE AT RIVERPARK 700 Forest Park Boulevard 1 + 1 $1,515 $1,746 796 944 $1.90 $1.85 Oxnard, CA 93030 2 + 2 $1,809 $2,138 1,016 1,197 $1.78 $1.79 Year Built: 2008 3 + 2 $2,329 $2,349 1,184 1,333 $1.97 $1.76 Units: 400 866.574.5881 Amenities: Fitness Center Central A/C Microwave Ovens Business Center Centra Heat High Speed Internet Access Clubhouse Full Size Washer/Dryer In All Units Swimming Pool Fireplaces Available in Third Floor Units Spa Above Standard Ceiling Height 9 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF TIERRA VISTA 1750 Montevina Circle 1 + 1 $1,390 $1,430 742 771 $1.87 $1.85 Oxnard, CA 93030 2 + 2 $1,831 $1,784 1,036 1,096 $1.77 $1.63 Year Built: 2000 3 + 2 $2,185 $2,185 1,303 1,303 $1.68 $1.68 Units: 404 Occupancy: 805.485.7272 Amenities: Fitness Center Full Covered Parking Fireplaces Available in Select Units Business Center Individual A/C Microwave Ovens Clubhouse Individual Heat High Speed Internet Access Swimming Pool Full Size Washer/Dryer In All Units Spa Monitored Security 2420 N. OXNARD BOULEVARD 13

2013 RENT COMPARABLES - VENTURA COUNTY 2420 OXNARD BOULEVARD SELECT RENT COMPARABLES 10 Address Type Low Rent High Rent Low SF +/- High SF +/- Low $/Low SF High $/ High SF ARCHSTONE VENTURA 930 Pacific Strand Court 1 + 1 $1,630 $1,685 727 740 $2.24 $2.28 Ventura, CA 93003 2 + 2 $1,850 $2,065 1,010 1,166 $1.83 $1.77 Year Built: 2002 Units: 192 805.642.3700 Amenities: Fitness Center Spa Business Center Individual A/C Above Standard Ceiling Height Clubhouse Individual Heat Microwave Ovens Playground Stacked Washter/Dryer Available in Select Units High Speed Internet Access Swimming Pool Full Size Washter/Dryer Available in Select Units Source: Westside Rentals,Pierce Eislen, Leasing Agents 2420 N. OXNARD BOULEVARD 14

MAP OF RENT COMPARABLES SUBJECT PACIFIC OCEAN Layout ID:L01 MapId:1727333 2420 N. OXNARD BOULEVARD 15

LAND COMPARABLES 2420 OXNARD BOULEVARD SELECT COMPARABLE LAND SALES Name Address Parcel No. Acres Sale Price Date Sold Price PSF of Land Proposed Use/ Development Future Tempo Apartments 400 Forest Park Blvd. Oxnard, CA 93036 Ventura 132-0-110-085; 132-0-110-095 9.76 $10,470,000 Apr-13 $36.31 Apartments Future Mosaic Apartments 500 Forest Park Blvd. Oxnard, CA 93036 Ventura 132-0-110-075; 132-0-110-065 9.46 $9,872,800 Apr-12 $35.69 Apartments 2420 N. OXNARD BOULEVARD 16

MAP OF LAND COMPARABLES SUBJECT PACIFIC OCEAN 2420 N. OXNARD BOULEVARD 17

SUBJECT CBRE 1840 Century Park East Suite 900 Los Angeles, CA 90067 www.cbre.com/beverlyhills :: Laurie Lustig-Bower Executive Vice President Lic. 00979360 +1 310 550 2556 laurie.lustig-bower@cbre.com :: Kamran Paydar Senior Sales Director Lic. 01242590 +1 310 550 2529 kamran.paydar@cbre.com :: Nancy Badzey Senior Marketing Director Lic. 01263701 +1 310 550 2568 nancy.badzey@cbre.com :: Paul Farry Senior Vice President Lic. 00941298 +1 805 465 1615 paul.farry@cbre.com