FOR SALE BILLBOARD EASEMENT OFF US Laurelwood Rd, Santa Clara, CA 95054

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1 All Sperry Van Ness Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

2 S A L E S O V E R V I E W Sales Price $2,125,000 NOI $106,249 Cap Rate 5% P R O P E R T Y D E S C R I P T I O N SVN FGG is excited to bring this unique opportunity to own an easement for an outdoor billboard along Highway 101 in the SF Bay Area. Currently leased to Clear Channel Outdoor Holdings, Inc (NYSE: CCO) on a NNN lease for a 24 year term expiring in The lease provides for an opportunity to increase base rents every three years through Easement ownership does qualify for 1031 Exchange. Easement on the property is held in perpetuity and there no obligations to the property owner for maintaining this easement. 2

3 P R O P E R T Y H I G H L I G H T S Rare opportunity to own an easement controlling Highway 101 billboard 1031 Exchange qualified (please consult your tax advisor) Long-term lease (24 years remaining) with NYSE traded company Lease provides an opportunity to increase base rent every three years through 2031 High traffic counts of approximately 200,000 VPD High barriers of entry for additional billboards to be constructed along Hwy 101 3

4 I N C O M E S U M M A R Y Annual Base Rent $106,249 Annual Percentage Rent * $0 Total $106,249 E X P E N S E S U M M A R Y Annual Gross Expenses $0 Net Operating Income $106,249 L E A S E S U M M A R Y Tenant Name Lease Starts Lease Ends Annual Rent Clear Channel 11/1/2009 8/31/2041 $106,249 *Lease contains percentage rent clause in addition to base rent, however none is currently projected. 4

5 L O C AT I O N M A P 5

6 A R I E L M A P 6

7 P H O T O S US-101 South Bound View US-101 North Bound View US-101 North Bound View 7

8 T E N A N T P R O F I L E Clear Channel Outdoor, traded on NYSE, is one of the world s largest outdoor advertising companies with more than 675,000 displays reaching more than half a billion people in more than 40 countries on five continents each month. Clear Channel Outdoor help advertisers create inspiring out-ofhome campaigns via traditional and digital display formats in roadside, urban, transit and airport environments, on street furniture and at retail near point of sale. In the U.S., Clear Channel Outdoor operates in 45 of the top 50 U.S. markets and is the leading outdoor advertising company with the fastestgrowing digital outdoor network now surpassing 1,110 displays. 8

9 O N G O I N G A S S E T M A N A G E M E N T - O P T I O N A L For $100 per month, First Guardian Group will manage your property and collect and distribute rents on your behalf. Cash Application Post Payments Reconciliation Investor Reporting Lease Administration Tenant Payment Conversion Post-closing Follow Up Tenant Relations Asset Management Lease Renewals and Amendments Documents and Consents Landlord Relations 9

10 P E R P E T U A L G R O U N D L E A S E E A S E M E N T S T R U C T U R E Real property interests underlying operationally essential infrastructure Effectively triple net lease rents with no operating expenses or capex Contractual rent escalators with upside FOR SALE Advertisers Property Owners Rent and Lease Agreement Perpetual Easement Rent and Lease Agreement Easement Owner 10

11 G R O W I N G T R E N D Outdoor advertising has been steadily growing in the US Increasing traffic congestion on US-101 may lead to higher future valuation of billboard easements U.S. OUTDOOR ADVERTISING REVENUE ($ in Billions) $6.9 $7.0 $7.3 $7.7 $8.0 $8.3 $8.7 $9.0 $9.4 $9.7 $10.1 $10.5 $10.9 $11.3 AVERAGE DAILY TRAFFIC ON US-101 (Number of Vehicles Per Hour) , , ,800 More than 165,000 locations Source: Outdoor Advertising Association of America Source: U.S. Department of Transportation 11

12 ( A U G T O D E C ) R E V E N U E B R E A K D O W N FOR SALE Statement Period Base Rent Monthly Net Advertising Revenue Share % Percentage Rent Total Rent Aug , , % 6, , Sep , , % 6, , Oct , , % 6, , Nov , , % 4, , Dec , , % 4, , Totals 33, , , ,

13 R E V E N U E B R E A K D O W N Statement Period Base Rent Monthly Net Advertising Revenue Share % Percentage Rent Total Rent Jan , , % 4, , Feb , , % 5, , Mar , , % - 6, Apr , , % - 6, May , , % - 6, Jun , , % 1, , Jul , , % 3, , Aug , , % , Sep , , % 3, , Oct , , % 4, , Nov , , % 4, , Dec , , % 3, , Totals 79, , , ,

14 2015 R E V E N U E B R E A K D O W N Statement Period Base Rent Monthly Net Advertising Revenue Share % Percentage Rent Total Rent Jan , , % , Feb , , % 2, , Mar , , % - 6, Apr , , % 4, , May , , % 5, , Jun , , % 4, , Jul , , % 1, , Aug , , % 1, , Sep , , % 2, , Oct , , % - 6, Nov , , % 3, , Dec , , % 2, , Totals 79, , , ,

15 2016 R E V E N U E B R E A K D O W N Statement Period Base Rent Monthly Net Advertising Revenue Share % Percentage Rent Total Rent Jan , , % 2, , Feb , , % 5, , Mar , , % 7, , Apr , , % 6, , May , , % 4, , Jun , , % , Jul , , % 3, , Aug , , % - 6, Sep , , % - 8, Oct , , % - 8, Nov , , % 3, , Dec , , % , Totals 88, , , ,

16 Y T D R E V E N U E B R E A K D O W N Statement Period Base Rent Monthly Net Advertising Revenue Share % Percentage Rent Total Rent Jan , , % - 8, Feb , , % - 8, Mar , , % - 8, Apr , , % , Totals 35, , ,

17 C O N TA C T For more information, please contact: Paul Getty President and Managing Director (408) paul.getty@svn.com BRE# Office Location: 777 North First Street, Suite 720 San Jose, CA Erik Carlson Senior Advisor and Vice President (408) erik.carlson@svn.com BRE# Jane Lee Associate Advisor (408) jane.lee@svn.com BRE# All Sperry Van Ness Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 17