BRANDON MICHAELS. Rancho Vista Plaza GROUP. 3007, 3011, 3053, 3167 Rancho Vista Blvd, Palmdale, CA 93551

Transcription

1 BRANDON MICHAELS GROUP Rancho Vista Plaza 3007, 3011, 3053, 3167 Rancho Vista Blvd,, CA 93551

2 Property Overview Investment Highlights Financials Sales Comparables EXCLUSIVELY LISTED BY: BRANDON MICHAELS Senior Managing Director Investments Senior Director, National Retail Group Tel: (818) Fax: (818) bmichaels@marcusmillichap.com License: CA # BRANDON MICHAELS GROUP 2 3

3 PALMDALE REGIONAL AIRPORT Dillard s Vans Forever 21 Old Navy Dick s Sporting Goods ANTELOPE VALLEY FREEWAY (14) RANCHO VISTA 1,300 ACRE MASTER PLANNED COMMUNITY Foot Locker Macy s See s Candies Yard House Old Navy BJ s Restaurants Olive Garden Outback Steakhouse 30TH STREET W THE PALMDALE AMPITHEATRE Rancho Vista Plaza PALMDALE MARKETPLACE RANCHO VISTA BOULEVARD JUNIPER MIDDLE SCHOOL DOS CAMINOS ELEMENTARY PALMDALE, CA 4 5

4 Executive Summary Marcus & Millichap has been selected to exclusively present Rancho Vista Plaza, a 55,438-square-foot drug and grocery anchored center situated on approximately 280,190 SF of land in, California. Rancho Vista Plaza is located on the northwest corner of Rancho Vista Boulevard and 30th Street W, within close proximity to the Interstate 14 Antelope Valley Freeway. Rancho Vista Plaza is ideally located at the gateway of Rancho Vista, a 1,300 acre master-planned community. The center serves the daily needs of the immediate resents. With excellent cross-over grocery, shopping, service related, and dining options, Rancho Vista Plaza is the dominant center in the immediate area. Rancho Vista Plaza is anchored by multiple national tenants including Vons, Rite Aid, Burger King and El Pollo Loco, Chevron, Subway, Metro PCS, and State Farm Insurance. Rancho Vista Plaza is within close proximity to the Antelope Valley Mall and the commercial corridor of 10th Street W, which is home to Best Buy, Lowe s, Target, Trader Joe s, Walmart, Sam s Club, and more. The center is well located near the Antelope Valley Country Club and Rancho Vista Golf Course Rancho Vista Plaza is currently 89% occupied, creating an opportunity to acquire a strong performing drug and grocery anchored center with significant upside through stabilization. The well-seasoned tenant mix has flourished at this location. 47% of the current tenant mix has operated at this center for 10 years or more, with 67% of the center having successfully operated at this center for more than 5 years. These tenants have exemplified excellent operations history, and have well-established businesses that have succeeded in diverse market conditions. Rancho Plaza is in excellent condition, and is an aesthetically pleasing center that has been well maintained and upgraded throughout the years, which has allowed the center to prosper., California is an upper middle class community located in Los Angeles County. It is home to major employers including Lockheed Martin, Northrop Grumman, Boeing, and CarMax. The average household income is $110,000 within a 3-mile radius and a surrounding population north of 100,000 people. 6 7

5 Property Overview PROPERTY INFORMATION Address Property Type APN s 3007, 3011, 3053, 3167 Rancho Vista Blvd,, CA Shopping Center TH STREET W Zoning PDR3-C NOT A PART FINANCIAL INFORMATION Asking Price $14,600,000 NOT A PART Price/SF $ Current CAP Rate 7.14% ProForma CAP Rate 8.05% Current NOI $1,043,145 Occupancy 89% SITE DESCRIPTION Year Built 1991, 2004 RANCHO VISTA BOULEVARD Gross Square Feet Lot Size Type of Ownership 55,438 SF 280,190 SF Fee Simple *Vons, Rite Aid, ReMax, Burger King, El Pollo Loco, and Chevron are not a part of the offering. 8 9

6 Investment Highlights DOMINANT DRUG AND GROCERY ANCHORED CENTER Shadow anchored by a strong mix of national tenants include Vons, Rite Aid, Burger King, El Pollo Loco, and Chevron Strong and stable tenant mix provides for steady customer flow, strong tenant synergy, and excellent crossover shopping options Center ideally serves the daily needs of the immediate residents High credit tenancy strong mix of national and regional retail tenants including Subway, State Farm Insurance, and Metro PCS STABILIZED OPPORTUNITY WITH RENTAL UPSIDE AND POTENTIAL DEVELOPMENT OPPORTUNITY At 89% current occupancy, there is a significant opportunity to increase net operating income through stabilization Stable cash flow with a well-seasoned tenant mix Tenants exemplify strong operating history 67% of the tenants have operated at this center for over 5 years and 47% of the tenants have operated at this center for over 10 years Potential to develop the pad at the corner of Rancho Vista Boulevard and 30th Street West Rancho Vista Plaza has an excellent tenant mix including national tenants such as Subway, MetroPCS, and Kumon Learning Center. STRONG PALMDALE LOCATION is an upper-middle class community located in Los Angeles County Residents enjoy a comfortable hometown feel with a strong family orientation, excellent education system and abundant recreational opportunities in a safe environment Affluent neighborhood with an average household income upwards of $110,000 within a 3-mile radius Over 100,00 people in the immediate area Rancho Vista Plaza offers an ideal location that is proximate to residential and commercial density and is located at the gateway to Rancho Vista, a 1,300 acre master-planned community Close proximity to Antelope Valley Mall as well as employers include Lockheed Martin, Northrop Grumman, Boeing, and CarMax Close proximity to Rancho Vista Golf Course and Antelope Valley Country Club WELL-MAINTAINED, HIGH QUALITY ASSET Excellent visibility and frontage along Rancho Vista Boulevard Aesthetically pleasing center has been well-maintained and upgraded Tenants have grown and prospered at this location Convenient access and ample parking High customer traffic Positive business environment - National and local tenants complement each other in a synergistic manner to ideally serve the residents in the immediate area 10 11

7 Tenant Roster UNIT TENANT SF LEASE TYPE 3011 Clutter Motors A New American Mortgage 1,371 NNN 3011B Vacant 1, D State Farm 975 NNN 3011E Home Smart Realty 2,600 NNN 3011G Sam's Pizza 1,300 NNN 3011H Subway 975 NNN 3011I Ozian Vwich 975 NNN 3011J Cigarette World 1,625 NNN 3053A Silver Hanger Cleaners 1,761 NNN 3053B Happy Nails & Spa 1,073 NNN 3053C Eye Brow Boutique 975 NNN 3053D Shahin's Jewelry 975 NNN 3053E Metro PCS 975 NNN 3053F McCoy's Donut 975 NNN 3053G Vogue Studios 1,159 NNN 3053H Avenue P Mail N More 975 NNN 3053I Kleen Sweep Pools 1,797 NNN 3053J Warhammer 1,388 NNN 3115B Johnart Real Estate 2,730 NNN 3115C Water & More 975 NNN 3115D Aloha Shave Ice 1,350 NNN 3115F Supercuts 1,694 NNN 3115G Los Arcos 1,251 NNN 3135A Vacant 1, B Vacant 1, C Kumon Math & Reading Center 1,134 NNN 3135D The Pampered Pooch 1,135 NNN 3135E All Care Pet Clinic 1,686 NNN 3135F Dance Evolutions 2,146 NNN 3135G Goldfish 2,168 NNN 3135H Mana Restaurant 2,179 NNN 3145A Dragon Hair Martial Arts 1,594 NNN 3145C Go Tribe 2,012 NNN 3167A Vacant 2, D Rancho Wellness Center 5,178 Mod. Gross TOTAL 55,

8 Site Plan APN # APN APN APN # APN # RITE AID VONS RANCHO VISTA BOULEVARD APN # Chevron El Pollo Loco Burger King ReMax 14 15

9 Property Overview LOCATION 3007, 3011, 3053, 3167 Rancho Vista Blvd,, CA SITE The subject property is located on the northwest corner of 30th Street West and Rancho Vista Boulevard. ZONING The property is situated on PDR3-C1* zoning. TRAFFIC COUNTS Rancho Vista Boulevard: 25,765 vehicles per day 30th Street W: 3,915 vehicles per day Ave. N SQUARE FOOTAGES Rancho Vista Golf Course Rancho Vista Plaza (14) Aerospace FWY 10th St. West Antelope Valley Country Club Lockheed Martin Regional Airport The subject property has a total building square footage of 55,438 SF on a 280,190 SF lot. FRONTAGE AND ACCESS Approximately 1485 feet of frontage on Rancho Vista Boulevard. Access is from Rancho Vista Boulevard and 30th Street W. YEAR BUILT The property was built in 1991 and Rancho Vista Blvd. Antelope Valley Mall Rancho Vista Blvd. SITE BREAKDOWN Marketplace Technology Drive APN ADDRESS LAND SF Rancho Vista Blvd. 37,629 SF ,126 SF ,237 SF Elizabeth Lake Rd Rancho Vista Blvd. 65,842 SF Rancho Vista Blvd. 39,454 SF Rancho Vista Blvd. 29,902 SF 16 Blvd Total 280,190 SF 17

10 Major Tenants Subway is a privately held American fast food restaurant franchise that primarily sells submarine sandwiches (subs) and salads. It is owned and operated by Doctor's Associates, Inc. Subway is one of the fastest-growing franchises in the world,with 44,882 restaurants in 112 countries and territories. The United States alone has 26,646 outlets. It is the largest single-brand restaurant chain and the largest restaurant operator in the world. MetroPCS is a prepaid wireless service in the United States that is part of T-Mobile US, Inc.. MetroPCS provides nationwide talk, text, and data depending on the plan services. In October 2012, MetroPCS Communications reached an agreement to merge with T-Mobile USA, Inc., a deal that would "help the competing provider become more competitive with the other National Carriers". The deal was a reverse merger for MetroPCS; following the closure of the merger on May 1, 2013, the combined company, now known as T-Mobile US, Inc., began trading on the New York Stock Exchange as TMUS. State Farm is a group of insurance and financial services companies in the United States. The group's main business is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. The corporate headquarters are in Bloomington, Illinois. State Farm is ranked 44th in the 2013 Fortune 500, which lists American companies by revenue. Kumon is an after-school learning center for children that specializes in math and reading programs for preschool students through the 12th grade. The company originated in Japan. Kumon was established in 1958 and began overseas expansion in Today, Kumon operates in 50 countries and regions with over 16,000 centers in Japan and over 8,000 centers overseas. Type Private Type Subsidiary Type Mutual Type Private Industry Restaurant Industry Telecommunications Industry Insurance Industry Education No. of Locations 44,834 Owner T-Mobile No. of Locations 30 operation centers, 343 claim offices No. of Locations 16,300 in Japan and 8,400 overseas Website Website Website Website

11 Financials UNIT TENANT SF % LEASE START LEASE EXPIRE RENT/MO RENT/MO/SF CAM CAM/SF PRFORMA RENT PFORMA RENT/SF LEASE TYPE UNIT TENANT SF % LEASE START LEASE EXPIRE RENT/MO RENT/MO/SF CAM CAM/SF PRFORMA RENT PFORMA RENT/SF LEASE TYPE 3011A New American Mortgage 1,371 2% 8/1/2016 7/31/2019 $2, $1.50 $ $ NNN 3011B Vacant 1,990 4% $2, $1.50 NNN 3011D State Farm 975 2% 4/1/2006 3/31/2022 $2, $2.15 $ $ NNN 3011E Home Smart Realty 2,600 5% 1/1/ /31/2020 $2, $1.00 $1, $ NNN 3011G Sam's Pizza 1,300 2% 12/22/ /31/2021 $3, $2.49 $ $ NNN 3011H Subway 975 2% 12/1/ /30/2020 $1, $2.03 $ $ NNN 3011I Ozian Vwich 975 2% 7/1/1993 6/30/2018 $2, $2.69 $ $ NNN 3011J Cigarette World 1,625 3% 7/1/2015 6/30/2020 $3, $2.33 $1, $ NNN 3053A Silver Hanger Cleaners 1,761 3% 1/13/1992 1/31/2017 $9, $5.20 $1, $ NNN 3053B Happy Nails & Spa 1,073 2% 11/1/ /31/2018 $2, $2.14 $ $ NNN 3053C Eye Brow Boutique 975 2% 12/1/ /30/2018 $1, $1.50 $ $ NNN 3053D Shahin's Jewelry 975 2% 4/1/2016 3/31/2021 $1, $1.72 $ $ NNN 3053E Metro PCS 975 2% 4/1/2014 3/31/2019 $1, $1.41 $ $ NNN 3053F McCoy's Donut 975 2% 4/1/2001 3/31/2019 $2, $2.52 $ $ NNN 3053G Vogue Studios 1,159 2% 3/1/2016 2/28/2021 $1, $1.54 $ $ NNN 3053H Avenue P Mail N More 975 2% 3/1/2002 7/31/2020 $2, $2.10 $ $ NNN 3053I Kleen Sweep Pools 1,797 3% 5/1/2011 4/30/2021 $2, $1.25 $1, $ NNN 3053J Warhammer 1,388 3% 2/1/2018 1/31/2023 $1, $1.11 $ $ NNN 3115B Johnart Real Estate 2,730 5% 8/1/2014 7/31/2019 $4, $1.60 $1, $ NNN 3115C Water & More 975 2% 7/1/2005 6/30/2019 $2, $2.46 $ $ NNN 3115D Aloha Shave Ice 1,350 2% 6/10/2013 6/9/2018 $2, $1.50 $ $ NNN 3115F Supercuts 1,694 3% 12/5/1991 2/29/2020 $4, $2.54 $1, $ NNN 3115G Los Arcos 1,251 2% 6/1/2009 5/31/2020 $2, $1.94 $ $ NNN 3135A Vacant 1,134 2% $1, $1.50 NNN 3135B Vacant 1,125 2% $2, $2.00 NNN 3135C Kumon Math & Reading 1,134 2% 6/1/2015 5/31/2020 $1, $1.33 $ $ NNN 3135D The Pampered Pooch 1,135 2% 4/13/2012 4/30/2019 $1, $1.70 $ $ NNN 3135E All Care Pet Clinic 1,686 3% 12/24/ /31/2019 $3, $2.15 $1, $ NNN 3135F Dance Evolutions 2,146 4% 6/15/2007 9/30/2015 $3, $1.49 $ $ NNN 3135G Goldfish 2,168 4% 3/2/2007 2/28/2022 $5, $2.44 $1, $ NNN 3135H Mana Restaurant 2,179 4% 8/3/ /31/2022 $5, $2.55 $1, $ NNN 3145A Dragon Hair Martial Arts 1,594 3% 1/1/2011 6/30/2022 $2, $1.30 $1, $ NNN 3145C Go Tribe 2,012 4% 2/1/2017 1/31/2022 $2, $1.18 $1, $ NNN 3167A Vacant 2,083 4% $4, $2.00 NNN 3167D Rancho Wellness Center 5,178 9% 6/1/ /31/2023 $7, $ Mod. Gross 3011 Clutter Motors $1, Vons # $8, Burger King $ El Pollo Loco $ Rite Aid # $3, Chevron $1, TOTAL 55, % $92, $41, $11, OCCUPIED SF: 49,106 SF 89% CURRENT NNN LEASES 91% VACANT SF: 6,332 SF 14% MOD. GROSS LEASES 9% 20 21

12 Financials OCCUPANCY INCOME AND EXPENSE EXPENSES - CURRENT PROPERTY TAX INCREASE % Current % ProForma Scheduled Lease Income $1,109,857 $1,243,081 NNN Charges - Rentable SF $322,164 $389,494 NNN Charges - Common Area $181,308 $181,308 Increase in Property Taxes $43,262 $43,262 Effective Gross Income $1,656,591 $1,857,144 Vacancy - 5% $92,857 Expenses $589,486 $589,486 Net Operating Income $1,067,105 $1,174,801 Loan Payment $642,717 $642,717 Pre-Tax Cash Flow 8.3% $424, % $532,085 Principal Reduction $201,432 $201,432 Total Return Before Taxes 12.2% $625, % $733,516 MANAGEMENT $54, MAINTENANCE & REPAIRS Landscape $27, Landscape - Miscellaneous $19, Electrical/Lighting $6, Pest Control $2, General Maintenance $ Parking Lot Repair $6, Plumbing $9, Day Porter $29, Roof Maintenance $2, Signage/Directory $10, Steam Cleaning $19, Sweeping $22, Trash Removal $57, Fire Alarm Monitoring $3, Fire Alarm - Phone $11, Fire Alarm - Other $9, Security Contract $37, TOTAL MAINTENANCE & REPAIRS $276, UTILITIES Water & Sewer - Common Area $12, Building Utilities - Water $11, Electricity - Common Area $32, Current Property Taxes $123,182 Projected New Property Taxes $182,500 Increase in Property Taxes $59,318 % Responsible For Increased Property Taxes 73% Increased CAMS per New Taxes $43,262 TENANTS NOT SUBJECT TO PROPERTY TAX INCREASE Aloha Shaved Ice 2% Dance Evolutions 4% Rancho Wellness Center 9% Total 16% PROPOSED FINANCING Loan $9,490,000 (65%) Terms 25 year amortization Interest Rate 4.65% PRICING Price $14,600,000 Down Payment $5,110,000 Current CAP Rate 7.31% ProForma CAP Rate 8.05% TENANT LENGTH OF OCCUPANCY AVERAGE UNIT SIZE OCCUPIED 89% VACANT 11% 5+ YEARS 19% 10+ YEARS 47% TOTAL UTILITIES $56, INSURANCE Property Insurance $17, Liability Insurance $2, Cash-on-Cash Return 8.3% Total Return Before Taxes 12.2% 0-2,000 SF 62% 2,000 SF + 38% TOTAL INSURANCE $19, PROPERTY TAXES (1.25%) $182, TOTAL EXPENSES $589,

13 Sales Comparables SALES COMPARABLES PRICE/SF # ADDRESS NAME SALES PRICE PRICE/SF BLDG SF LOT SF CAP RATE W Avenue J12, Lancaster E Avene K, Lancaster 1759 W Avenue J12, Lancaster Challenger Plaza, Lancaster CLOSE OF ESCROW $7,725,000 $ , , % 8/18/2016 $3,200,000 $ , ,858-1/8/2016 $ $ $ $ Valley Central Way, Lancaster Valley Central, Lancaster $23,219,569 $ ,118 1,318,557-11/30/2016 $ $ $ $ th Street W, Lancaster - $6,000,000 $ , ,725-5/2/2016 $ $ th Street W, Lancaster - $5,750,000 $ , ,876-10/13/2017 $ th Street W, Lancaster Depot Plaza $4,650,000 $ ,060 77, % 3/23/2017 $ E. Boulevard, Shopping Center $3,430,000 $ , , % 7/3/2017 AVERAGE $7,708,262 $ , , % $ E Avene K, Lancaster Valley Central Way, Lancaster th Street W, Lancaster th Street W, Lancaster th Street W, Lancaster 1645 E. Boulevard, Average 24 25

14 Sales Comparables Rancho Vista Plaza 3 ADDRESS E AVENE K, LANCASTER ADDRESS VALLEY CENTRAL WAY, LANCASTER ADDRESS TH STREET W, LANCASTER Name Challenger Plaza, Lancaster Name Valley Central Name Sales Price $3,200,000 Sales Price $23,219,569 Sales Price $6,000,000 6 Price/SF $ Bldg SF 25,052 Lot SF 132,858 Price/SF $ Bldg SF 365,118 Lot SF 1,318,557 Price/SF $ Bldg SF 30,001 Lot SF 126,725 CAP Rate CAP Rate CAP Rate Close of Escrow 1/8/2016 Close of Escrow 11/30/2016 Close of Escrow 5/2/

15 Sales Comparables ADDRESS TH STREET W, LANCASTER Name Sales Price $5,750,000 Price/SF $ Bldg SF 35,639 Lot SF 144,876 CAP Rate Close of Escrow 10/13/2017 ADDRESS TH STREET W, LANCASTER Name Depot Plaza Sales Price $4,650,000 Price/SF $ Bldg SF 20,060 Lot SF 77,293 CAP Rate 7.00% Close of Escrow 3/23/2017 ADDRESS 1645 E. PALMDALE BOULEVARD, PALMDALE Name Shopping Center Sales Price $3,430,000 Price/SF $ Bldg SF 28,515 Lot SF 126,603 CAP Rate 7.50% Close of Escrow 7/3/

16 Rent Comparables # ADDRESS RENTAL RATE/YR RENTAL RATE/MO LEASE TYPE SPACE AVAIL BLDG SF RENT COMPARABLES RENT/SF th Street W, $15.00 $1.30 NNN 2,023 56,300 $3.00 $ Trade Center Drive, $16.80 $1.40 NNN 1,034 10,640 $2.50 $ West Rancho Vista Boulevard, $ $1.80 NNN 1,360 14,846 $2.00 $1.80 $ Boulevard, $ $1.10 NNN 7,100 49,215 $1.50 $1.30 $1.40 $ W Rancho Vista Boulevard, $ $1.10 NNN 9, ,000 $1.00 $1.10 $1.10 $ th Street West, $33.00 $2.80 NNN 30,616 91,617 $ th Street W, $30.00 $2.50 NNN 1,322 1, West Boulevard, $15.00 $1.30 NNN 1,200 43,000 $ th Street W, Trade Center Drive, 550 West Rancho Vista Boulevard, 641 Boulevard, 422 W Rancho 10th Street Vista Boulevard, West, th Street W, West Boulevard, 445 W. Boulevard, Average W. Boulevard, $12.00 $1.00 MG 1,200 3,600 AVERAGE $18.80 $1.60 6,117 41,

17 Area Overview PALMDALE, CALIFORNIA is located approximately 60 freeway miles northeast of downtown Los Angeles in the high desert of the Antelope Valley. It has a population of 160,072. is located in Los Angeles County, and the urbanized centers of and Los Angeles are separated by the San Gabriel mountain range, which is about 40 miles (64 km) wide. This range forms the southern edge of the Antelope Valley portion of the Mojave Desert. is the second largest city in the Antelope Valley, and the fifth largest city overall in the Mojave Desert by population, after Las Vegas, Henderson, North Las Vegas and Lancaster. is part of a twin city complex with its immediate northern neighbor Lancaster and together they are the principal cities within the Antelope Valley region and California s High Desert. refers to itself with the nickname the aerospace capital of the United States, and has been the site of research, development, final assembly, flight testing and/or servicing/modifications of the Space Shuttle, B-1 Lancer, X-15, B-2 Spirit, F-117 Nighthawk, F-35 Lightning II, SR-71 Blackbird, Lockheed L-1011 Tristar, and many other aircraft that have been used in the United States Air Force, NASA and air forces and airlines around the world. is home to the following aerospace companies: Boeing, Lockheed Martin and its famed Skunk Works, and Northrop Grumman. A number of world class corporations and manufacturing firms have made home, helping to diversify the local economy. Delta Scientific, a world leader in high strength vehicle barrier systems, supplying protection for many federal, state and local buildings, and a prime supplier to the military and US State Department for embassies and other installations worldwide, and US Pole, a major manufacturer of street lighting poles, are major anchor tenants in the Fairway Business Park. The Trade and Commerce Center is home to many other major manufacturing, industrial, corporate offices and other employers, as well as home to the Auto Mall. A number of medical and related support offices are coming on-line to meet the needs of the new Regional Medical Center. The Antelope Valley Mall is the preeminent retail shopping destination in the region, with a wide variety of dining choices on its restaurant row. With low taxes, streamlined permitting, creative incentives, modern business parks, and affordable costs, is the ideal environment to start and grow a business. The city offers Foreign Trade Zone status; industrial development bonds; free job placement and training for employers and employees; and educational opportunities at AERO Institute which addresses the need for technically skilled workforce and STEM education at all levels. offers a rich lifestyle, with diverse housing from starter homes to luxurious executive estates and award winning schools. Regional Medical Center is recognized as the area s premier healthcare provider, specializing in cardiology, emergency medicine, rehabilitation, advanced robotics, and bariatric treatment for chronic wounds. Planning is underway to tie California s High Speed Rail system with Transportation Center to provide fast and easy travel to downtown LA, the Bay Area and beyond. This regional multi-modal hub offers convenient connections to major ground transportation providers including Metrolink commuter rail, AVTA, Amtrak Thruway and Greyhound. LARGEST EMPLOYERS # OF EMPLOYEES Edwards Air Force Base 10,808 MAJOR EMPLOYERS China Lake Navel Weapons 9,172 is home to the following aerospace companies: Boeing, Lockheed Martin and its famed Skunk Works, and Northrop Grumman. County of Los Angeles 3,953 Lockheed Martin 3,000 School District 2,682 Antelope Valley Hospital 2,619 Northrop Grumman 2,

18 DEMOGRAPHICS 1 MILE 3 MILES 5 MILES 2014 Population 10,372 44, , Households 3,097 13,737 34, Average Household Size Daytime Population ,405 30, Owner Occupied Housing Units 84.39% 79.91% 63.61% 1 MILE $104,365 Average household income 3 MILE $104,270 Average household income 5 MILE $85,195 Average household income 2014 Renter Occupied Housing Units 15.61% 20.09% 36.39% 2014 Vacant 2.17% 4.15% 5.49% 2014 Median Household Income $85,692 $80,011 $62, Per Capita Income $31,189 $32,503 $27, Average Household Income $104,365 $104,270 $85,195 POINTS OF INTEREST SHOPPING CENTERS 160,020 52,115 Population Residential Units Antelope Valley Mall Blackbird Airpark Cinemark Movie Theatres DryTown Water Park Edwards Air Force Base Joe Davies Heritage Airpark Amphitheater AVC Performing Arts Theatre Playhouse Santa Clarita Performing Arts Center Antelope Valley Mall Amargosa Commons The Marketplace Shops at Rancho Vista Gateway Destination O-Eight Rancho Vista Town Center Promenade 34 35

19 BRANDON MICHAELS Senior Managing Director Investments Senior Director, National Retail Group Tel: (818) Fax: (818) License: CA # BRANDON MICHAELS GROUP