6847-6875 N. WOODLEY AVE. VAN NUYS, CA 91406 · S Los Angeles St ve Balboa Blvd ay ictory Blvd ictory Blvd anowen St Woodley Lakes Golf Course Encino Golf Course Woodley Park VAN

6847-6875 N. WOODLEY AVE.VAN NUYS, CA 91406140,000 SF Class A Self Storage Development OpportunityDelivered Entitled Q4 2019

FINANCIAL ANALYSIS & MARKET POSITIONING

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E 1

01st

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© 2019 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Hudson Commercial Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. 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.

Hudson Commercial Partners, Inc. and the Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, 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.

TABLE OF CONTENTS

SECTION ONE 06PROPPERTY OVERVIEW

SECTION TWO 26COMPARABLES

SECTION THREE 32 PROPERTY INFORMATION

SECTION FOUR 50 MARKETING OVERVIEW

SECTION FIVE 58HUDSON PARTNERS INC. - PROFILE

HUDSON PARTNERS INVESTMENT BROKERAGE

It is often noted that the standards of service begin with the business ownership. So it is worth noting here that the owners of the Hudson Commercial Partners, Inc., are the brokers that you are considering as your representative. As such, we have a heavily vested interest in the successful completion of your assignments and transactions and in providing you with the ongoing service that leads to solid working relationships.

We are committed to the belief that responsive, attentive, focused service is the link that connects professionalism with success. But, we recognize that our commitment to services must be proven and your confidence earned. We look forward to having that opportunity on this assignment.

WHO WE ARE

Jay Martinez, Kelly Betpolice and Darin Spillman had worked the country’s top brokerage firms over the years, and their paths had crossed on several occasions. They found that, while each brought a distinct skill set to the table, they shared an approach that emphasized superior service and a results-oriented focus that produced consistent positive results. The three quickly realized that, working as a team, they could offer clients broad-based expertise combined with a synergy that proved highly effective in the successful and swift completion of transactions. The founders then set about to build a powerful roster of team members representing a unique set of skills and expertise while maintaining their singular orientation to exceeding clients’ expectations and Hudson Partners was born. This team approach has proven to be highly effective, resulting in the successful completion of more than 2 Billion in transactions while meeting even the most complex of clients’ needs.

SUBJECT PROPERTY

S Los Angeles St

Woodley Ave

Balboa Blvd

Sher

man

Way

Vic

tory

Blv

d

Vict

ory

Blvd

Vano

wen

St

Woodley LakesGolf Course

EncinoGolf Course

Woodley Park

VAN NUYSGolf Course

SHEET 1

23 ORCHARD ROAD, SUITE 200

KSP PROJECT NO. 20409

6847-6863 WOODLEY AVE, VAN NUYS 91406 01.16.19COVER SHEET

1. COVER SHEET

2. CONCEPTUAL SITE PLAN

VICINITY MAPSHEET INDEX

3. CONCEPTUAL FIRST FLOOR PLAN

5. CONCEPTUAL THIRD FLOOR PLAN

4. CONCEPTUAL SECOND FLOOR PLAN

7. CONCEPT ELEVATIONS

6. CONCEPTUAL ROOF PLAN

SELF STORAGE FACILITY

NOT TO SCALE

WO

OD

LEY

AVE

HARTLAND ST

BASSETT ST

VALJ

EAN

AVE

HART ST

SITE LOCATION

8. PRELIMINARY LANDSCAPE PLAN

C-1. TITLE SHEET

C-2. PRECISE GRADING PLAN

C-3. DETAILS AND SECITIONS

C-4. ALTA SURVEY

ARCHITECTURAL CIVIL

SECTION 1 | PRO

PERTY OVERVIEW

SHEET 1




1. COVER SHEET









NOT TO SCALE

WO

OD

LEY

AVE

HARTLAND ST

BASSETT ST

VALJ

EAN

AVE

HART ST

SITE LOCATION


C-1. TITLE SHEET



C-4. ALTA SURVEY

ARCHITECTURAL CIVIL

Valjean Ave

Woodley Ave

±22,843

Vehicles Per Day

Vanowen St

HUDSON COMMERCIAL PARTNERS, INC. - 76 - HUDSON COMMERCIAL PARTNERS, INC.

PROPERTY OVERVIEW

The offering is for 4 parcels of land approved for a Class A self-storage

development located at 6847-6863 Woodley Avenue. The proposed site

plans is for 140,000 gross square feet and 98,650 net rentable square feet

comprised of 1131 self-storage units. The units will be interior climate-

controlled units ranging from 5’x5’ to 10’20’.

The site is in the desirable suburban community of Van Nuys CA, and is

very accessible and visible to homes, schools, retailers, employers and

entertainment options. The proposed facility will be strategically located

on Woodley Ave, with direct access to 405 and 101 Freeways. The loca-

tion offers approximately 250 feet of visibility along Woodley Avenue with

a daily traffic volume of approximately 22,843. The site has extremely

strong demographics with approximately 303,475 people living within a

3-mile radius with an average household income of $53,103.

The proposed projected is currently working through the planning stages,

will be fully entitled permit ready by the end of the fourth quarter of 2019.

HIGHLIGHTS

• Daily traffic counts of approximately 22,843 vehicles

• Highly Visible with approximately 250 linear feet of frontage on Woodley Ave

• 705,666 People Living within a 5-Mile Radius

• Average household income of approximately $70,000 within a 5-mile radius

PROPERTY SUMMARY SPECIFICATION

OFFERING PRICE Price Undisclosed

ADDRESS 6847-6863 Woodely Ave

PARCEL NUMBER 2224-025-013, 014, 012, 022

BUILDING SIZE - GROSS (PROPOSED) 140,000 GSF

BUILDING SIZE - NRSF (PROPOSED) 98,650 NRSF

UNITS (PROPOSED) 1,131

LAND AREA 1.60

NUMBER OF BUILDINGS One

NUMBER OF STORIES Three

AVG. UNIT SIZES Approx. 87 SF

STREET FRONTAGE 250 Linear Feet

CROSS STREET Vanowen Street

TRAFFIC COUNTS ±22,843 Vehicles Per Day

HIGHWAY ACCESS 101 and 405 Highways

• Land approved for self-storage development (RTI Status)

• ± 140,000 GSF (Proposed)

• ± 98,650 NRSF (Proposed)

• 1,131 UNITS (Proposed)

• Fully entitled and permit ready by the end of the fourth quarter of 2019


Van Nuys CA

Prepared by Self Storage 101 for G Buskett ©2019 Page 50 of 63

MARKET PRICING

Van Nuys CA


RECOMMENDED UNIT MIX

We have recreated the unit mix, more or less, as contemplated by the developer.

UNIT SPACE % OF SF TYPE # OF % OF UNITSSQ FT TYPE TOTAL SQ FT SPACES TOTAL

5 x 5 25 Climate Controlled Upper Floors 5% 4750 190 17%5 x 10 50 Climate Controlled Upper Floors 14% 13600 272 24%

7.5 x 10 75 Climate Controlled Upper Floors 11% 11250 150 13%10 x 10 100 Climate Controlled Upper Floors 15% 14900 149 13%10 x 15 150 Climate Controlled Upper Floors 23% 22950 153 14%10 x 20 200 Climate Controlled Upper Floors 5% 5000 25 2%5 x 5 25 Climate Controlled First Floor 0% 250 10 1%5 x 10 50 Climate Controlled First Floor 1% 1,250 25 2%

7.5 x 10 75 Climate Controlled First Floor 2% 1,800 24 2%10 x 10 100 Climate Controlled First Floor 5% 5,000 50 4%10 x 15 150 Climate Controlled First Floor 5% 4,500 30 3%10 x 20 200 Climate Controlled First Floor 5% 5,000 25 2%

Totals 0 0 98,650 0 100% 98,650 1,131 100%

TOTAL SQ FT AVERAGE TOTAL UNITS % OF SPACEClimate Controlled First Floor 23,800 129 184 24%Climate Controlled Upper Floors 74,850 79 947 76%BUILDINGS TOTAL 98,650 1,131 100%

PROJECT TOTALS 98,650 1,131

SIZE

UNIT MIX

36 MONTH STABALIZED INCOME STATEMENT - UNIT MIX36 MONTH STABALIZED INCOME STATEMENT - MARKET PRICING


Van Nuys CA


Square Footage By Percentage Unit Mix Composition

5 x 5 25 Climate Controlled Upper Floors5 x 10 50 Climate Controlled Upper Floors7.5 x 10 75 Climate Controlled Upper Floors10 x 10 100 Climate Controlled Upper Floors10 x 15 150 Climate Controlled Upper Floors10 x 20 200 Climate Controlled Upper Floors5 x 5 25 Climate Controlled First Floor5 x 10 50 Climate Controlled First Floor7.5 x 10 75 Climate Controlled First Floor10 x 10 100 Climate Controlled First Floor10 x 15 150 Climate Controlled First Floor10 x 20 200 Climate Controlled First Floor

Van Nuys CA


# of Units By Percent Unit Mix Composition

5 x 5 25 Climate Controlled Upper Floors


7.5 x 10 75 Climate Controlled Upper Floors




5 x 5 25 Climate Controlled First Floor


7.5 x 10 75 Climate Controlled First Floor




12 MONTH STABALIZED INCOME STATEMENT12 MONTH STABALIZED INCOME STATEMENT


Van Nuys CA


We have recommended rental rates that we believe will allow the subject site to be competitive within the sub-market and have derived those rates from the local market competitors. We also recognize that the time lapse between the creation of this report and the opening of this site could result in an actual unit mix with the same rates, higher rates, or lower rates, depending on how the market performs over the ensuing months.

UNIT SPACE ANNUAL RATE PER % OF UNITSQ FT TYPE REVENUE SQ FT REVENUE PRICE

5 x 5 25 Climate Controlled Upper Floors 250,686$ 52.78$ 9% 109.95$ 5 x 10 50 Climate Controlled Upper Floors 489,437$ 35.99$ 17% 149.95$

7.5 x 10 75 Climate Controlled Upper Floors 377,910$ 33.59$ 13% 209.95$ 10 x 10 100 Climate Controlled Upper Floors 393,271$ 26.39$ 14% 219.95$ 10 x 15 150 Climate Controlled Upper Floors 587,428$ 25.60$ 20% 319.95$ 10 x 20 200 Climate Controlled Upper Floors 122,985$ 24.60$ 4% 409.95$ 5 x 5 25 Climate Controlled First Floor 14,394$ 57.58$ 0% 119.95$ 5 x 10 50 Climate Controlled First Floor 47,985$ 38.39$ 2% 159.95$

7.5 x 10 75 Climate Controlled First Floor 63,346$ 35.19$ 2% 219.95$ 10 x 10 100 Climate Controlled First Floor 137,970$ 27.59$ 5% 229.95$ 10 x 15 150 Climate Controlled First Floor 118,782$ 26.40$ 4% 329.95$ 10 x 20 200 Climate Controlled First Floor 125,985$ 25.20$ 4% 419.95$

Totals 0 0 98650 0 2,907,281$ #VALUE! 100% 2,049.65$

ALL REVENUES $/Sq . Ft. 100% As a % of RevenueClimate Controlled First Floor 645,250$ 27.11$ 22% As a % of RevenueClimate Controlled Upper Floors 2,262,032$ 30.22$ 78% As a % of Revenue

2,907,281$ 29.47$ 100%

PROJECT TOTALS 2,907,281$ 29.47$ 100%

REVENUE GENERATOR

SIZE

Van Nuys CA


12 MONTH STABILIZED INCOME STATEMENT

We have recreated the stabilized income statement as contemplated by the management company. It should be noted that this income statement is assuming the site at stabilization and as such we assume a 4% increase in the gross potential revenue and 3% increase in expenses and so the gross potential at this point in the ‘life’ of the facility would be an increase over the gross potential contemplated with the recommended unit mix. Please note that these increase assumptions will account for the differences in the gross potential rent from the recommended unit mix and the income statement.

INCOME 218046.11 218046.11 218046.11 218046.11 218046.11 218046.11 218046.11 218046.11 218046.11 218046.11 218046.11 218046.11 2616553.26

Gross Potential Income 273,568$ 274,065$ 274,575$ 275,099$ 275,634$ 276,182$ 276,740$ 277,308$ 277,887$ 278,474$ 279,071$ 279,675$ 3,318,278$ Occupancy 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%Rents 246,211$ 246,659$ 247,118$ 247,589$ 248,071$ 248,564$ 249,066$ 249,577$ 250,098$ 250,627$ 251,164$ 251,708$ 2,986,450$ Other Income 11,001$ 11,017$ 11,035$ 11,052$ 11,070$ 11,089$ 11,107$ 11,127$ 11,246$ 11,266$ 11,286$ 11,307$ 149,323$ Discounts/Write Offs (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (11,608)$ (139,296)$ Bad Debt (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (3,733)$ (44,796)$ TOTAL INCOME 241,871$ 242,335$ 242,812$ 243,300$ 243,800$ 244,312$ 244,832$ 245,363$ 246,003$ 246,552$ 247,109$ 247,674$ 2,935,961$

EXPENSES-$

Advertising & Promotion 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 1,750$ 21,000$ Insurance 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 1,503$ 18,036$ Management 14,512$ 14,540$ 14,569$ 14,598$ 14,628$ 14,659$ 14,690$ 14,722$ 14,760$ 14,793$ 14,827$ 14,860$ 176,158$ Miscellaneous & Other 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 5,863$ 70,356$ Office and Administrative 922$ 922$ 922$ 922$ 922$ 922$ 922$ 922$ 922$ 922$ 922$ 922$ 11,064$ Payroll & Burden 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 9,367$ 112,404$ Real Estate Taxes 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 13,548$ 162,575$ Repairs & Maintenance 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 2,297$ 27,564$ Utilities 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 2,131$ 25,572$ TOTAL EXPENSES 51,893$ 51,921$ 51,950$ 51,979$ 52,009$ 52,040$ 52,071$ 52,103$ 52,141$ 52,174$ 52,207$ 52,241$ 624,729$

NOI 189,978$ 190,413$ 190,862$ 191,321$ 191,791$ 192,272$ 192,761$ 193,260$ 193,862$ 194,378$ 194,901$ 195,432$ 2,311,232$

36 MONTH STABALIZED INCOME STATEMENT36 MONTH STABALIZED INCOME STATEMENT


Van Nuys CA


COMPETITOR RATE MATRIX

PROPERTY

Enterprise Self Storage 1 $ 95.00 1 $ 115.00 1 $ 240.00 1 $ 245.00 1 $ 350.00QuikStor Self Storage 2 $ 79.00 1 $ 114.00 1 $ 219.00 1 $ 0.00 0 $ 0.00Sherman Oaks Mini Storage 3 $ 100.00 1 $ 137.00 1 $ 259.00 1 $ 364.00 1 $ 446.00Public Storage 4 $ 119.00 1 $ 178.00 1 $ 265.00 1 $ 0.00 0 $ 472.00Public Storage 5 $ 0.00 0 $ 148.00 1 $ 0.00 0 $ 362.00 1 $ 486.00Keep it Self Storage 6 $ 0.00 0 $ 130.00 1 $ 0.00 0 $ 250.00 1 $ 425.00Self Storage 7 $ 0.00 0 $ 0.00 0 $ 0.00 0 $ 220.00 1 $ 0.00City Self Storage 8 $ 0.00 0 $ 125.00 1 $ 175.00 1 $ 250.00 1 $ 335.00

393.00 4 947.00 7 1158.00 5 1691.00 6 2514.00Average $ 98.25 $ 135.29 $ 231.60 $ 281.83 $ 419.00

PROPERTY


217.00 2 294.00 2 415.00 2 641.00 2 0.00Average $ 108.50 $ 147.00 $ 207.50 $ 320.50 $ 0.00

NON CLIMATE CONTROL

Map

#

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CLIMATE CONTROL

Map

#

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0.0050.00

100.00150.00200.00250.00300.00350.00400.00450.00

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Average Rental Rates

NC CC

12 MONTH STABALIZED INCOME STATEMENT12 MONTH STABALIZED INCOME STATEMENT - COMPETITOR RATE MATRIX

Van Nuys CA


COMPETITOR RATE MATRIX

PROPERTY


393.00 4 947.00 7 1158.00 5 1691.00 6 2514.00Average $ 98.25 $ 135.29 $ 231.60 $ 281.83 $ 419.00

PROPERTY


217.00 2 294.00 2 415.00 2 641.00 2 0.00Average $ 108.50 $ 147.00 $ 207.50 $ 320.50 $ 0.00

NON CLIMATE CONTROL

Map

#

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Map

#

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0.0050.00

100.00150.00200.00250.00300.00350.00400.00450.00

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Average Rental Rates

NC CC


PLAT MAP AERIAL

SUBJECT PROPERTY6847-6843 WOODLEY AVE., VAN NUYS, CA 91406

70,000 SFLOT

250’

280.

02’


SHEET 1




1. COVER SHEET









NOT TO SCALE

WO

OD

LEY

AVE

HARTLAND ST

BASSETT ST

VALJ

EAN

AVE

HART ST

SITE LOCATION


C-1. TITLE SHEET



C-4. ALTA SURVEY

ARCHITECTURAL CIVIL


WO

ODL

EY A

VE.

PROPOSED BUILDING140,000 S.F.

3-STORY

STOP

STOP

LSLS

FIRE APPARATUS HAMMERHEAD

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20'-0

"

70'-0

"

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"

28' R

18'-0

"TY

P

3'-0

"

3'-0"5'-0"

360 S.F. LOADING PROVIDED800 S.F. REQ'D 20' MIN. DEPTHPER LAMC 12.21.C.6

272'-0"

152'

-0"

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-0"

28'-0

"DR

IVEW

AY

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"

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T

ELEVATORMACHINE

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LS

EVEV

LS

DRIVE-UP UNITS

ACCESSKEY PAD

ACCESSIBLE PATH OFTRAVEL

HART STREET

8'-0

"

LS

NO PARKINGLOADING NO PARKING

9'-0"TYP

3'-6

"

PROPERTY LINE 280.02

PROPERTY LINE 280.02

LOBBY OFFICE

FR

ELEC

PRO

PERT

Y LI

NE

250.

00

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PERT

Y LI

NE

250.

00

3

420

VALJ

EAN

AVE

NU

E

HARTLANDSTREET

HARTLAND STREET

TRASHENCLOSURE

ACCESS KEYPAD

26'-0

"FI

RE A

CCES

S

(E) LIGHT POLE

(E) POWER POLE

(E) POWER POLE

95'-0

"

75'-0

"

A A

BB

26'-0

"FI

RE A

CCES

S

BIKE

S

P/L

LOBBY OFFICE

SECTION A-A

PROPOSED BUILDING

P/L ROOF TOP UNIT, SCREENAS REQUIRED, TYP

FIRST FLOOREL= 0'- 0" A.F.F.

SECOND FLOOREL= 10 '-8 " A.F.F.

THIRD FLOOREL= 21'- 4" A.F.F.

ROOF DECKEL= 32'- 0" A.F.F.

T.O. PARAPETEL= 38'-1 " A.F.F.

ELEVATOR PENTHOUSE P/L

FIRST FLOOREL= 0'- 0" A.F.F.

SECOND FLOOREL= 10 '-8 " A.F.F.

THIRD FLOOREL= 21'- 4" A.F.F.

ROOF DECKEL= 32'- 0" A.F.F.

T.O. PARAPETEL= 38'-1 " A.F.F.

P/L

OFFICE

ROOF TOP UNIT, SCREENAS REQUIRED, TYP ELEVATOR PENTHOUSE

SECTION B-B

PROPOSED BUILDING

SHEET 2



6847-6863 WOODLEY AVE, VAN NUYS 91406 01.16.19CONCEPTUAL SITE PLAN

NORTH0 16'8' 32'4'

scale: 1/16" = 1'-0"

SITE PLAN


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ELEVATORMACHINEROOM

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"

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ELEVUP

STAIR 1

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"

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"

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52'-6

"

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"

10'-0" 235'-0"

2'-6

"

FIRE RISER

OFFICE

BREAKROOM

STORAGEELECTRICAL

11'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"11'-0"

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'-0"

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"10

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"11

'-0"

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-0"

UP

STAIR 2

FIRST FLOOR46,666 S.F.

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5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15




10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5 5x5

5x5

10x10

5x105x105x10

10x15 5x15

5x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x1510x15 10x15 10x15

10x20

10x1010x1010x1010x10 10x1010x1010x10 10x105x10

10x20

5x10

5x10 5x10 5x10

5x10

BICYCLE /LOCKERROOM

NORTH

SHEET 3



6847-6863 WOODLEY AVE, VAN NUYS 91406 01.16.19CONCEPTUAL FIRST FLOOR PLAN

0 12'6' 24'3'

scale: 3/32" = 1'-0"

CONCEPTUAL FIRST FLOOR PLAN

1 2 3 4 5 6 7 8 9 10 11 12 13

C

D

E

F

G

H

J

K

L

A

B

1 2 3 4 5 6 7 8 9 10 11 12 13

C

D

E

F

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14

14

15

15

16

16

17

17

18

18

19

19

20

20

28

P

Q

R

S

21 22 23 24 25 26 27

2821 22 23 24 25 26 27

P

Q

R

S

LOBBY

ELEV

ELEVDN

STAIR 1

12'-6

"

10'-0"

105'

-0"

80'-0"

42'-6

"

12'-6

"

10'-0" 235'-0"

2'-6

"

11'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"11'-0"

272'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"11

'-0"

11'-0

"

172'

-0"

DN

STAIR 2

SECOND FLOOR46,667 S.F.

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

5x155x155x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15


10x10

5x105x105x10

10x15 5x15

5x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x1510x15 10x15 10x15

10x20

10x1010x1010x10

5x10

10x20 10x20 10x2010x2010x2010x2010x2010x2010x2010x2010x2010x20

10x105x10

10x10

10x10

10x10

10x10

5x15

5x10

10x15 10x15 10x15

10x1010x10 10x10

10x15 10x15

10x10 10x10

10x15 10x15

10x10

5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5 5x5

10x17 7x20

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x10

10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

5x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x10

5x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x10


10x20

5x10

10x10

5x7

10x7

10x7

10x7

10x7

10x7

10x7

10x7

5x7

5x10

DISP

LAY

AREA

DISP

LAY

AREA

DISP

LAY

AREA

NORTH

SHEET 4



6847-6863 WOODLEY AVE, VAN NUYS 91406 01.16.19CONCEPTUAL SECOND FLOOR PLAN

0 12'6' 24'3'

scale: 3/32" = 1'-0"

CONCEPTUAL SECOND FLOOR PLAN


1 2 3 4 5 6 7 8 9 10 11 12 13

C

D

E

F

G

H

J

K

L

A

B

1 2 3 4 5 6 7 8 9 10 11 12 13

C

D

E

F

G

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K

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A

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MM

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OO

14

14

15

15

16

16

17

17

18

18

19

19

20

20

28

P

Q

R

S

21 22 23 24 25 26 27

2821 22 23 24 25 26 27

P

Q

R

S

LOBBY

ELEV

ELEVDN

STAIR 1

12'-6

"

10'-0"

105'

-0"

80'-0"

42'-6

"

12'-6

"

10'-0" 235'-0"

2'-6

"

11'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"11'-0"

272'-0"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

11'-0

"11

'-0"

172'

-0"

DN

STAIR 2

THIRD FLOOR46,667 S.F.

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10

10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10

5x155x155x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15


10x10

5x105x105x10

5x15

5x15

10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x1510x15 10x15 10x15

10x20

10x1010x1010x10

5x10

10x20 10x20 10x2010x2010x2010x2010x2010x2010x2010x2010x2010x20

5x10

10x10

10x10

10x10

10x10

5x15

5x10

10x15 10x15 10x15

10x1010x10 10x10

10x15 10x15

10x10 10x10

10x15 10x15

10x10


10x17 7x20

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x5

5x510x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10 10x10


5x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x10


5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x15

5x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x15

5x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x15

5x155x155x155x15

5x155x155x155x15

5x15 5x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x155x1510x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x15 10x155x15

5x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x105x10


UNISEX

ROOF HATCH &SHIPS LADDER

5x10

10x20

10x10

5x7

10x7

10x7

10x7

10x7

10x7

10x7

10x7

5x7

5x10

DISP

LAY

AREA

DISP

LAY

AREA

DISP

LAY

AREA

NORTH

SHEET 5



6847-6863 WOODLEY AVE, VAN NUYS 91406 01.16.19CONCEPTUAL THIRD FLOOR PLAN

0 12'6' 24'3'

scale: 3/32" = 1'-0"

CONCEPTUAL THIRD FLOOR PLAN

1 2 3 4 5 6 7 8 9 10 11 12 13

C

D

E

F

G

H

J

K

L

A

B

1 2 3 4 5 6 7 8 9 10 11 12 13

C

D

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14

14

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16

16

17

17

18

18

19

19

20

20

28

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21 22 23 24 25 26 27

2821 22 23 24 25 26 27

P

Q

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S

11'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"10'-0"11'-0"

272'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"10

'-0"

10'-0

"11

'-0"

11'-0

"

172'

-0"

STAIR BELOW

SLO

PE D

N 1

/4"

PER

FOO

T

SLOPE 1/4"PER FOOT

SLO

PE D

N 1

/4"

PER

FOO

T

SLO

PE D

N 1

/4"

PER

FOO

T

STAIR WALL BELOW

ROOF TOP UNITS, TYP

ROOF SCREEN ASREQUIRED, TYP

ROOF WALK PADS, TYP

ROOF HATCH

38'-8"T.O. PARAPET

38'-8"T.O. PARAPET

38'-8"T.O. PARAPET

38'-8"T.O. PARAPET

39'-8"T.O. PARAPET

41'-8"T.O. PARAPET

67'-2"

38'-8"T.O. PARAPET

39'-8"T.O. PARAPET

38'-8"T.O. PARAPET

80'-0

"

39'-8"T.O. PARAPET

39'-8"T.O. PARAPET

SAFETY RAILING

80'-0"80'-0"

39'-8"T.O. PARAPET

38'-8"T.O. PARAPET

39'-8"T.O. PARAPET

SOLAR READY AREAMETHOD 1: MINIMUM SOLAR ZONE AREA BASED ON TOTAL ROOF AREA15% OF TOTAL ROOF AREA> 10,000 SF ROOF AREA, 10X16 = 160 SF SOLAR PANEL< 10,000 SF ROOF AREA, 10X8 = 80 SF SOLAR READY PANEL

TOTAL ROOF AREA :BUILDING 2 = 46,667 SF X 0.15 (15%) = 7,000 SF

7,000 SF / 160 SF = 44 PROPOSED PANELS

NOTES :

1. FUTURE SOLAR INVERTERS AND METER SHALL BE LOCATED IN THEELECTRICAL ROOM ON THE GROUND FLOOR.

2. PROVIDE A DESIGN TO SHOW A PATHWAY FOR ROUTING CONDUIT FROM THESOLAR ZONE TO THE POINT OF INTERCONNECTION WITH THE ELECTRICALSERVICE.

SOLAR ZONEAREA 23,3520 S.F.

220'-0"

16'-0

"16

'-0"

SOLAR ZONEAREA 13,3520 S.F.

NORTH

SHEET 6



6847-6863 WOODLEY AVE, VAN NUYS 91406 01.16.19CONCEPTUAL ROOF PLAN

0 12'6' 24'3'

scale: 3/32" = 1'-0"

CONCEPTUAL FOURTH FLOOR PLAN


SECTION 3 | CO

MPA

RAB

LES

Wo

od

ley

Ave

Val

jean

Ave


Property Report6863 WoodleyVan Nuys, CA 91406

Powered by Reis, Inc.

Self Storage

Rent Comparables

Property Report6863 WoodleyVan Nuys, CA 91406


Self Storage

Rent Comparables

Property Report

6863 WoodleyVan Nuys, CA 91406


Self Storage

Rent Comparables



Section 1 - Subject Property

Subject Property Location

Address 6863 Woodley

City Van Nuys

State CA

Zip 91406

Metro Los Angeles

Submarket San Fernando Vlly-W

Latitude 34.19577

Longitude -118.48381

Subject Property Statistics

Property Type Self-Storage

Year Built

Size (units)

Section 2 - Comparable Group Market Summary

Comparable Group Summary Statistics

Low Mean Median High

Current Asking Rent/Unit $167 $216 $218 $267

Current Vacancy Rate 4.5% 9.5% 7.4% 22.5%

Property Size (units) 205 828 765 1263

Year Built 1973 1989 1988 2003*Monthly Rental Rates Reported During the Quarter (Non-Climate Controlled 10x10 Units)

Vacancy Rate is based on physical occupancy across all unit types.

Climate Controlled 5x5 5x10 10x10 10x15 10x20

Current Asking Rent/Unit $104 $144 $208 $288 $463

Current Asking Rent/SF $4.14 $2.87 $2.08 $1.92 $2.32

Non-Climate Controlled 5x5 5x10 10x10 10x15 10x20



As of 12/31/18

Rent ComparablesSelf Storage - 4th Quarter 2018

Metro: Los AngelesClearly Objective.

Copyright 2019Reis Services, LLC

This report has been generated for the exclusive use of gregg buskett of Woodley Self Storage The use, distribution and display of this report and any of the information contained herein are subject to the Terms and Conditions at ReisReports.com.

Page 3

SELF STORAGE -4TH QUARTER 2018 RENT COMPARABLES

Section 3 - Comparable Group Locations





Page 4



Section 4 - Comparable Group Listing

1

Name Keep It Self Storage Year Built 1988

Address 6827 Woodley Ave Total Size (Units) 482

City Van Nuys CC Units 161

State CA NCC Units 321

ZIP 91406

County Los Angeles

Submarket San Fernando Vly-W Current Vacancy Rate 13.5%

Distance from Subject (miles) 0.08 Data As Of 12/31/18

Monthly Rental Rates Reported During the Quarter


Current Asking Rent/Unit $96 $139 $190 $271 N/A

Current Asking Rent/SF $3.84 $2.78 $1.90 $1.81 N/A


Current Asking Rent/Unit $82 $126 $167 $241 N/A

Current Asking Rent/SF $3.28 $2.52 $1.67 $1.61 N/A

2

Name Enterprise Self Storage Year Built 1987

Address 16225 Vanowen St Total Size (Units) 205



ZIP 91406

County Los Angeles











Page 5

3

Name Sherman Oaks Mini Storage Year Built 1983

Address 15500 Erwin St Total Size (Units) 1,161



ZIP 91411 RV Boat Parking 79

County Los Angeles

Submarket San Fernando Vly-E Current Vacancy Rate 22.5%






4

Name City Self Storage of Van Nuys Year Built 2003

Address 7346 Sepulveda Blvd Total Size (Units) 750




County Los Angeles











Page 6

SELF STORAGE -4TH QUARTER 2018 RENT COMPARABLESSELF STORAGE -4TH QUARTER 2018 RENT COMPARABLES


5

Name Public Storage Year Built 1973

Address 7660 Balboa Blvd Total Size (Units) 780




County Los Angeles





Current Asking Rent/Unit N/A $166 $239 N/A $347

Current Asking Rent/SF N/A $3.32 $2.39 N/A $1.74

6

Name Public Storage Year Built 2003

Address 15350 Oxnard St Total Size (Units) 1,214




County Los Angeles














Page 7


7

Name Storcal Self Storage Year Built 1985

Address 15025 Oxnard St Total Size (Units) 998



ZIP 91411

County Los Angeles





Current Asking Rent/Unit N/A $169 $187 N/A $382

Current Asking Rent/SF N/A $3.38 $1.87 N/A $1.91

8

Name Ez Storage Year Built 1973

Address 15330 Hatteras St Total Size (Units) 1,263



ZIP 91411

County Los Angeles











Page 8



9

Name 15101 Raymer St Year Built 1995

Address 15101 Raymer St Total Size (Units) 731




County Los Angeles







10

Name Safe Storage Year Built 2003

Address 14601 Sherman Way Total Size (Units) 700



ZIP 91405

County Los Angeles











Page 9




Self Storage Quarterly View Shan Ahmed Cody Bond Economics Department New York — February 20, 2019

A Record Year in Supply Growth The national vacancy rate for the self storage sector, which in-cludes both climate and non-climate controlled units, rose to 13.4% in the fourth quarter. That represents a whopping 150 basis point increase over the third quarter, and a 180 basis point increase year-over-year. This is the highest vacancy rate for the sector since the fourth quarter of 2013, but still significantly low-er than the sector’s record high of 17.9%. While part of this is partly attributable to seasonality, the overall trend is weakness because of oversupply.

Roughly 81,000 units came online in the quarter, only behind the first and second quarters of 2018 in terms of size. This year marked a record for construction in the self storage sector, with an average of 85,000 new completions per quarter. Last quarter, we projected a total of 300,000 new storage units to come online by the end of 2018. The year ended above that prediction, with approximately 330,000 new units coming online. Net absorption fell to its lowest fourth quarter level on record, landing 14,000 units lower than the previous record set in the fourth quarter of 2013. Still, net absorption ended positive for the year at 140,000 units. Where Do Rents Stand? Consistent with general weakness, rents for climate controlled 10x10 units fell by 2.4% in the fourth quarter; rents for non-climate controlled 10x10 units fell by 1.8%. Year-over-year, rents for non-climate controlled 10x10 units rose by 0.7%, while rents fell by 0.5% for their climate controlled counterparts. Again, part of this is a seasonal effect, but next year’s annual trend will be indicative of whether or not this sector has turned the corner and begun absorbing new supply well. Similarly, 5x5 and 5x10 non-climate controlled units saw rent con-traction of -1.8% and -1.9%, respectively. Units in the 10x15 and 10x20 range saw rents fall by -1.6% and -1.5%. Year-over-year, 10x20 non-climate controlled units saw the strongest national rent growth at 1.5%, followed by 5x10 units at 1%.

Statistics by Metro Out of 125 Reis metros, only El Paso and Naples saw a decrease in vacancy. On the other end of the spectrum, Fairfield County, Chattanooga, San Jose, and Daytona Beach saw vacancies increase in ex-cess of 3%. Each of these metros saw a sizeable amount of new completions in the quarter, coupled with low-to-negative net absorption. Only Toledo, Columbia, and Worcester saw 10x10 non-climate controlled rents rise in the quarter, while Melbourne, Milwaukee, and Youngstown rents remained flat. The remaining Reis metros saw rents fall. Surprisingly, Naples posted the greatest decline in the quarter at -4.4%. New York – which commands the highest rents nation-wide – fell 1.3% over the quarter, while rents in San Francisco shrunk by 1.7%.

As we previously noted, national net absorption fell to its lowest fourth quarter level on record. Only 18 of the 125 Reis metros saw positive absorption, while 107 saw flat or negative absorp-tion. Los Angeles, New York, and San Bernardino saw the steep-est decline, while Louisville, Charlotte, and Pittsburgh saw the largest increase. Each of these increases were in the range of 400 to 600 units. Outlook Just as many industry insiders feared, the self storage sector has finally entered a supply glut. Given the nature of the sector, new self storage buildings can seemingly pop up overnight in some markets, especially in converted industrial and office buildings.

Analysis of Fourth Quarter 2018 Reis Findings in the Self Storage Sector

2018 Quarter 4

Fourth Quarter 2018 Market Performance Improving Fundamentals / Flat or Declining Fundamentals

Absorption Occupancy NCC 10x10 Rent

Q4 2018 18+ 107 2↑ 123 3↑ 122

Q3 2018 57+ 68 17↑ 108 12↑ 113

Q2 2018 116+ 9 98↑ 27 105↑ 20

Q1 2018 83+ 42 38↑ 87 119↑ 6

Q4 2017 30+ 5↑ 25↑ 95 120 100

Figures are based on 125 metro markets.

86%

88%

90%

92%

2015Q4 2016Q2 2016Q4 2017Q2 2017Q4 2018Q2 2018Q4

National Occupancy Rates (50 Metropolitan Areas)

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4

12-Month Change in Inventory 12-Month Change in Occupied Stock







2018 Quarter 4



Q4 2018 18+ 107 2↑ 123 3↑ 122

Q3 2018 57+ 68 17↑ 108 12↑ 113

Q2 2018 116+ 9 98↑ 27 105↑ 20

Q1 2018 83+ 42 38↑ 87 119↑ 6

Q4 2017 30+ 5↑ 25↑ 95 120 100


86%

88%

90%

92%

2015Q4 2016Q2 2016Q4 2017Q2 2017Q4 2018Q2 2018Q4


0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4








2018 Quarter 4



Q4 2018 18+ 107 2↑ 123 3↑ 122

Q3 2018 57+ 68 17↑ 108 12↑ 113

Q2 2018 116+ 9 98↑ 27 105↑ 20

Q1 2018 83+ 42 38↑ 87 119↑ 6

Q4 2017 30+ 5↑ 25↑ 95 120 100


86%

88%

90%

92%

2015Q4 2016Q2 2016Q4 2017Q2 2017Q4 2018Q2 2018Q4


0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4








2018 Quarter 4



Q4 2018 18+ 107 2↑ 123 3↑ 122

Q3 2018 57+ 68 17↑ 108 12↑ 113

Q2 2018 116+ 9 98↑ 27 105↑ 20

Q1 2018 83+ 42 38↑ 87 119↑ 6

Q4 2017 30+ 5↑ 25↑ 95 120 100


86%

88%

90%

92%

2015Q4 2016Q2 2016Q4 2017Q2 2017Q4 2018Q2 2018Q4


0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4








2018 Quarter 4



Q4 2018 18+ 107 2↑ 123 3↑ 122

Q3 2018 57+ 68 17↑ 108 12↑ 113

Q2 2018 116+ 9 98↑ 27 105↑ 20

Q1 2018 83+ 42 38↑ 87 119↑ 6

Q4 2017 30+ 5↑ 25↑ 95 120 100


86%

88%

90%

92%

2015Q4 2016Q2 2016Q4 2017Q2 2017Q4 2018Q2 2018Q4


0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4


This year has set new supply records across dozens of metros, and across the nation itself. We expect the pace of supply growth to remain strong over the first half of 2019, and then slow down going into 2020. Overall, Reis is projecting approximately 200,000 units to come online in 2019, pushing the vacancy rate further upwards to 13.7%. Just over 60,000 units are projected to come online in 2020, eas-ing supply conditions. Given this slowdown in construction, as well as relatively solid absorption moving forward, the vacancy rate is forecasted to flatten out over the next five to eight quar-ters. Demand is expected to remain strong overall. Copyright © 2019 Reis Inc.


POPULATION 1-MILES 3-MILES 5-MILES2023 Projection 49,138 385,854 776,316

2018 Esitmate 47,632 374,675 750,498

2010 Census 45,764 361,520 717,628

INCOME 1-MILES 3-MILES 5-MILES2018 Est. AverageHousehold Income $64,751 $71,533 $87,880

DEMOGRAPHICS

HOUSEHOLDS 1-MILES 3-MILES 5-MILES2023 Projection 15,182 119,666 254,815

2018 Esitmate 14,710 116,100 246,071

2010 Census 14,141 111,955 235,180

AREA OVERVIEW

$82,484Van Nuys, CA Average Household Income

$70,000+Businesses in the Valley

Valley Presbyterian Hospital - 350-bed general medical and surgical hospital with more than 500 physicians, situated 1.3 miles from subject property

Van Nuys Airport (VNY) - located 1 mile from subject property, plays a crucial role in Southern California airport system and ranks as one of the world’s busiest general aviation airports serving an estimated 320,000 passengers per year. With over 100 businesses ocated in the 730-acre airport, VNY has an economic impact of more than $2 billion annually to the Southern California economy, supporting over 10,480 jobs directly and generating an earnings impact of $707 million.

NBC Universal’s - Located less than 20 minutes from the property, conctruction is progressing on NBC Universal’s $1.6 billion Evolution Plan at it’s 391-acre Universal City campus. This entire project will have an economic impact of $6.3 billion, supporting 31,000 construction and production jobs, and create 12,000 new permanent positions.

Warner Center - known as the ”Downtown of the Valley,” is a regional center located 15 minutes west of the property. Warner Center contains a diverse mix of companies and industries with a concentration in healthcare, financial, and professional services. Approximately 40,000 employees work within the Warner Center area at major businesses including Health Net, Anthem Blue Cross, and Ajilon Finance.

AREA OVERVIEW


D E M O G R A P H I C S

1 6 9 5 5 S h e r m a n W a yV A N N U Y S , C A L I F O R N I A 9 1 4 0 6

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HARTLAND ST

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C-1. TITLE SHEET



C-4. ALTA SURVEY

ARCHITECTURAL CIVIL

140,000 SF SELF-STORAGE DEVELOPMENT

6847-6843 WOODLEY AVEVAN NUYS, CALIFORNIA 91406

1 MILE 2 MILES 3 MILES 5 MILES

Place of work

2017 Businesses 1,070 3,696 9,977 25,671

2017 Employees 11,666 38,325 101,189 240,444

Population

2017 Population - current year estimate 22,238 95,408 258,837 690,475 690,475

2022 Population - five year projection 22,984 98,234 267,316 712,433 712,433

2010-2017 Annual population growth rate 0.71% 0.59% 0.67% 0.62% 0.62%

2017-2022 Annual population growth rate 0.66% 0.59% 0.65% 0.63% 0.63%

Age

2017 Median age 38.2 35.9 35.9

Education

2017 Population 25 and over 15,418 64,010 174,364 465,172

Less than 9th grade 1,630 10.6% 8,519 13.3% 23,018 13.2% 59,271 12.7%

9-12Th grade - no diploma 1,258 8.2% 5,270 8.2% 14,972 8.6% 38,641 8.3%

High school diploma 3,007 19.5% 13,444 21.0% 37,281 21.4% 94,680 20.4%

Ged or alternative credential 318 2.1% 1,212 1.9% 2,953 1.7% 7,520 1.6%

Some college - no degree 3,833 24.9% 13,938 21.8% 34,963 20.1% 90,341 19.4%

Associate`s degree 1,131 7.3% 4,320 6.7% 11,465 6.6% 30,093 6.5%

Bachelor`s degree 2,892 18.8% 12,200 19.1% 34,949 20.0% 99,188 21.3%

Graduate or professional degree 1,349 8.7% 5,107 8.0% 14,763 8.5% 45,438 9.8%

Households

2017 Households - current year estimate 7,252 30,621 85,324 225,078

2022 Households - five year projection 7,448 31,339 87,663 231,192

2010-2017 Annual household growth rate 0.44% 0.37% 0.48% 0.46%

2017-2022 Annual household growth rate 0.53% 0.46% 0.54% 0.54%

2017 Average household size 3.06 3.10 3.00 3.03

Household Income

2017 Average Household Income $87,346 $76,907 $77,080 $87,456

2022 Average Household Income $101,760 $89,550 $88,773 $100,340

2017 Median Household Income $65,968 $55,555 $53,802 $58,449

2022 Median Household Income $75,424 $62,644 $59,805 $66,598

2017 Per Capita Income $28,839 $24,901 $25,766 $28,945

2022 Per Capita Income $33,375 $28,788 $29,441 $32,990

Housing Value

2017 Owner Occupied Housing Units 4,454 14,308 36,256 103,529

Under $50,000 171 3.8% 222 1.6% 492 945 0.9%

$50,000-$99,999 12 0.3% 39 0.3% 141 1.4% 367 0.4%

$100,000-$149,999 21 0.5% 79 0.6% 282 0.4% 856 0.8%

$150,000-$199,999 15 0.3% 98 0.7% 556 0.8% 1,306 1.3%

$200,000-$249,999 102 2.3% 418 2.9% 1,426 1.5% 3,114 3.0%

$250,000-$299,999 267 6.0% 782 5.5% 1,985 3.9% 4,872 4.7%

Population within a 3 mile radius of the property is 258,837

70% of area residents have high school diploma or college education

Average household income will be over $100,000 by 2022

Subject property is surrounded by many top employers by virtue of proximity to bordering cities

There are 225,000 households within a 5 mile radius of the Subject property

Largest employer type is retail, healthcare, and tech services within a 5 mile radius

D e m o g r a p h i c s S u m m a r y

1 6 9 5 5 S H E R M A N W A Y | O F F E R I N G M E M O R A N D U M29



$300,000-$399,999 1,028 23.1% 3,430 24.0% 8,182 5.5% 20,594 19.9%

$400,000-$499,999 1,269 28.5% 3,578 25.0% 8,546 22.6% 20,770 20.1%

$500,000-$749,999 1,258 28.2% 4,449 31.1% 10,386 23.6% 29,245 28.2%

$750,000-$999,999 213 4.8% 817 5.7% 2,441 28.6% 9,993 9.7%

$1,000,000 and Over 99 2.2% 397 2.8% 1,819 6.7% 11,466 11.1%

2017 Median Value of Owner Occ. Housing Units $448,188 $458,315 $459,256 5.0% $494,896

2017 Average Value of Owner Occ. Housing Units $479,018 $499,472 $513,913 $582,799

Housing Units

2 011-2015 Housing Units 7,508 31,771 88,779 233,850

1 Unit -Detached 5,169 68.9% 17,134 53.9% 37,438 42.2% 109,552 46.9%

1 Unit -Attached 271 3.6% 827 2.6% 3,537 4.0% 9,284 4.0%

2 Units 48 0.6% 179 0.6% 347 0.4% 1,198 0.5%

3-4 Units 102 1.4% 269 0.9% 1,141 1.3% 3,488 1.5%

5-9 Units 190 2.5% 1,490 4.7% 4,122 4.6% 11,457 4.9%

10-19 Units 199 2.7% 2,147 6.8% 6,276 7.1% 18,118 7.8%

20-49 Units 823 11.0% 5,221 16.4% 16,828 19.0% 40,619 17.4%

50 and Over 360 4.8% 4,104 12.9% 18,438 20.8% 38,833 16.6%

Mobile Home 245 3.3% 285 0.9% 523 0.6% 1,037 0.4%

Other Units 100 1.3% 115 0.4% 130 0.2% 262 0.1%

Employment status

2017 Civilian population 16+ in labor force 11,899 50,412 135,797 361,680

2017 Employed civilian population 16+ 11,354 95.4% 48,352 95.9% 129,583 95.4% 344,488 95.2%

2017 Unemployed population 16+ 545 4.6% 2,061 4.1% 6,214 4.6% 17,191 4.8%

Class of worker

2017 Employed civilian population 16+ 11,354 48,352 129,583 344,488

White collar 6,697 59.0% 26,640 55.1% 72,243 55.8% 200,742 58.3%

Services 2,417 21.3% 11,610 24.0% 30,340 23.4% 74,513 21.6%

Blue collar 2,239 19.7% 10,101 20.9% 27,001 20.8% 69,236 20.1%

Occupation

2017 Employed Civilian Population 16+ 11,354 7.9% 48,352 129,583 344,488

Management 902 6.7% 3,834 7.9% 10,044 7.8% 28,781 8.4%

Business and Financial 764 2.2% 2,197 4.5% 6,149 4.7% 16,852 4.9%

Computer and Mathematical 248 1.3% 1,028 2.1% 2,609 2.0% 7,169 2.1%

Architecture and Engineering 151 0.5% 625 1.3% 1,523 1.2% 4,039 1.2%

Life, Physical and Social Science 57 1.5% 419 0.9% 835 0.6% 2,877 0.8%

Community and Social Service 175 1.1% 615 1.3% 1,787 1.4% 4,560 1.3%

Legal 124 5.0% 402 0.8% 1,258 1.0% 4,609 1.3%

Education, Training and Library 566 3.8% 2,150 4.4% 5,540 4.3% 15,654 4.5%

Arts, Design and Entertainment, Sports and Media 433 4.4% 1,828 3.8% 4,836 3.7% 15,286 4.4%

Healthcare Practitioner and Technical 494 2.1% 2,290 4.7% 6,316 4.9% 17,964 5.2%

Healthcare Support 240 1.6% 1,218 2.5% 2,881 2.2% 7,114 2.1%




Protective Service 178 3.7% 975 2.0% 2,131 1.6% 4,772 1.4%

Food Preparation and Serving Related 419 8.2% 2,710 5.6% 7,624 5.9% 19,990 5.8%

Building and Grounds Cleaning and Maintenance 934 5.7% 3,972 8.2% 10,068 7.8% 23,159 6.7%

Personal Care and Service 646 10.3% 2,735 5.7% 7,636 5.9% 19,478 5.7%

Sales and Related 1,165 14.3% 4,879 10.1% 14,052 10.8% 37,753 11.0%

Office and Administrative Support 1,618 0.0% 6,373 13.2% 17,294 13.3% 45,198 13.1%

Farming and Fishing and Forestry 3 8.0% 216 0.4% 737 0.6% 1,650 0.5%

Construction and Extraction 904 2.8% 3,321 6.9% 9,068 7.0% 21,655 6.3%

Installation, Maintenance and Repair 317 4.6% 1,255 2.6% 3,374 2.6% 9,216 2.7%

Production 523 4.3% 2,500 5.2% 7,071 5.5% 18,442 5.4%

Transportation and Material Moving 492 2,809 5.8% 6,751 5.2% 18,273 5.3%

Year Built

2011-2015 Housing Units 7,508 31,771 88,779 233,850

Built Later than 2010 54 0.7% 153 0.5% 523 0.6% 1,705 0.7%

Built 2000-2009 452 6.0% 1,048 3.3% 3,647 4.1% 11,910 5.1%

Built 1990-1999 273 3.6% 1,721 5.4% 4,951 5.6% 14,352 6.1%

Built 1980-1989 876 11.7% 3,359 10.6% 11,074 12.5% 29,222 12.5%

Built 1970-1979 586 7.8% 4,287 13.5% 17,774 20.0% 42,349 18.1%

Built 1960-1969 819 10.9% 4,933 15.5% 15,556 17.5% 40,591 17.4%

Built 1950-1959 3,425 45.6% 12,149 38.2% 25,704 29.0% 69,404 29.7%

Built 1940-1949 876 11.7% 3,353 10.6% 7,329 8.3% 18,176 7.8%

Built Before 1939 127 1.7% 749 2.4% 2,188 2.5% 6,087 2.6%

2011-2015 Median Year Built 1958 1960 1966 1966

Housing Units

2017 Housing Units 7,595 32,313 90,363 237,774

2017 Vacant Housing Units 343 4.5% 1,692 5.2% 5,039 5.6% 12,696 5.3%

2017 Occupied Housing Units 7,252 95.5% 30,621 94.8% 85,323 94.4% 225,079 94.7%

2017 Owner Occupied Housing Units 4,456 58.7% 14,319 44.3% 36,269 40.1% 103,544 43.5%

2017 Renter Occupied Housing Units 2,796 36.8% 16,302 50.5% 49,054 54.3% 121,535 51.1%

Housing Size

2010 Households 7,024 29,812 82,411 217,787

1 Person Household 1,527 21.7% 6,592 22.1% 19,790 24.0% 49,965 22.9%




5 Person Household 605 8.6% 2,771 9.3% 7,412 9.0% 19,826 9.1%

6 Person Household 289 4.1% 1,353 4.5% 3,572 4.3% 9,593 4.4%

7 or More Person Household 304 4.3% 1,464 4.9% 3,814 4.6% 10,203 4.7%

2010 Average Household Size 3.00 3.05 2.96 2.99

2017 Average Household Size 3.06 3.10 3.00 3.03




The property is located in the northwestern portion of the County of Los Angeles’ known as the San Fernando Valley. The San Fernando Valley is a major economic area entirely within the City, comprising an area of approximately 250 square miles. From its easterly boundary at the Verdugo Mountains, the Valley extends west a distance of approximately 20 miles to the Ventura County line.

Along its southerly side, the San Fernando Valley is bounded by the Santa Monica Mountains and extends north a distance of approximately 10 miles to the Santa Susana, Verdugo and San Gabriel Mountains, which bound the north and east sides of the Valley. More than 1.8 million people live in the giant bowl known as the “Valley”.

The Valley is home to numerous companies, most well-known of which work in motion pictures, music recording, and television production. The former movie ranches were branches of original studios now consisting of CBS Studio Center, NBCUniversal, The Walt Disney Company (and its ABC television network), and Warner Bros.

S A N F E R N A N D O V A L L E Y M A R K E T O V E R V I E W

The Valley was previously known for advances in aerospace technology and nuclear research by companies such as Lockheed, Rocketdyne, Litton Industries, Marquardt and TRW’s predecessor Thompson Ramo Woolridge.

The top financial communities, based on total business employment, include Burbank, Van Nuys, North Hollywood, Chatsworth and Canoga Park. The top retail trade communities include the cities of North Hollywood, Sherman Oaks, Northridge and Canoga Park.

The San Fernando Valley boasts a highly affluent, well-educated residential base. Many successful professionals choose this area to both live and work where homes range in price from $500,000 to $15,000,000. It is a remarkably diverse region, with people from all over the world making their homes and livelihoods there. Many “pocket parks” dot the hillside areas as well as the “flats”. Hip restaurants serve various cuisines, as well as coffee houses and upscale shopping. Boutique shopping is available on almost every block in the area. Centrally located, the subject property is in the midst of three major retail centers, which include: Warner Center to the West, Northridge Fashion Square to the North, and Sherman Oaks Fashion Square to the East. The subject site has easy access to the very best of the San Fernando Valley in terms of shopping, employment, transportation, and recreation.

THE SAN FERNANDO VALLEY IS HOME TO NUMEROUS MAJOR EMPLOYERS, PRIMARILY IN THE INDUSTRIES OF MOTION PICTURE, TELEVISION PRODUCTION, MEDICAL TECHNOLOGY AND RETAIL.


HI-TECH ECONOMYThe Valley is a community caught between a quick growing, high-tech oriented mainstream with a suburban infrastructure. These industries span a broad range of activities from media and entertainment to telecommunications and computers, doubling its share of the US economy during the last 20 years.

The Valley has become a major center for technology and information-related industries. Not only has Hollywood moved “over the hill”, but newer industries such as e-commerce and telecommunication companies have established their primary corporate offices there. Small and highly specialized creative-oriented firms service the region.

The area rivals major US cities and stands fifth in population total. The Valley has only limited amounts of undeveloped property, and therefore experiences substantial in-fill construction and the redevelopment of existing facilities.

If the Valley were a state, it would exceed the population of 12 states.

The major commodity the San Fernando Valley offers is an enviable quality of life. On the Valley’s southeastern corner lies Los Angeles’ Griffith Park (the nation’s largest municipal park and home of the Greek Theater), Traveltown Train Museum, the Los Angeles Zoo, Griffith Observatory, and dozens of hiking and horse trails.

Valley dwellers have access to world-class institutions such as The Getty and Norton Simon Museums. To the South, Universal Studios Hollywood, the Universal Amphitheater and City Walk provide all entertainment venues. Further south is the world-famous Hollywood Bowl. Lastly, shopping destinations abound in the Valley, with many malls (indoor and outdoor) and Ventura Boulevard, the Valley’s “Main Street”, with miles of electric shopping and dining opportunities. The northeast side of the Valley is covered by the Angeles National Forest, to the southwest by the Santa Monica Mountains National Recreation Area, and the northwest by the Santa Susana Mountains. A few minutes to the southwest are renowned California beaches such as Malibu, Zuma, and Santa Monica.

ECONOMIC H IGHLIGHTSOne of the earliest industries to arrive in the Valley was filmmaking and today this “Valley of the Stars” is the center of motion picture and television production in America. Disney, Warner Bros., Universal Studios, and DreamWorks Animation are all headquartered here. ABC, CBS, and NBC, as well as several cable networks, also have major facilities in the Valley.

• Aerospace is also a key industry within the Valley. From Northrop Grumman in Woodland Hills to Pratt & Whitney Rocketdyne in Canoga Park, aviation and defense interests employ thousands of skilled research & development engineers and designers.

• Professional service firms are also major employers from Calabasas and Warner Cable in the west portion of the San Fernando Valley to Burbank and Glendale in the east.

• Outstanding group of educational institutions including Cal State University Northridge, Woodbury University, and four community colleges as well as suburban campuses of many private colleges and universities.

• A large number of major employers, as well as Fortune 500 and 1000 companies, have their headquarters or multi-tenant facilities in the San Fernando Valley.

S A N F E R N A N D O V A L L E Y M A R K E T O V E R V I E W



T o p E m p l o y e r s - S a n F e r n a n d o V A L L E y

The San Fernando Valley features a strong and well-diversified economy. The Valley is home to numerous large employers, including some 50,000 businesses employing over 700,000 workers, the most well-known of which are involved in motion pictures, recording, and television production, and medical, as well as biotech industries. Among the top entertainment companies in the San Fernando Valley are Disney, Warner Brothers, NBC, and DreamWorks, which are ten minutes from the property in Universal City or Burbank. Other important segments of the local economy include financial and health services, as well as aerospace, biotech, and high-tech manufacturing and medical.

EMPLOYER LOCATION EMPLOYEES

Universal Studios, Inc. Universal City 15,000

Boeing Inc. Los Angeles 11,520

Warner Brothers Entertainment Burbank 7,300

Amgen, Inc. Thousand Oaks 6,700

The Walt Disney Company Burbank 6,000

Anthem Blue Cross Woodland Hills 6,438

Kaiser Permanente Panorama City 6,275

California State University, Northridge Northridge 3,821

Providence St. Joseph Medical Center Burbank 2,490

Health Net, Inc. Woodland Hills 2,200

Pratt & Whitney Rocketdyne Canoga Park 2,200

Wells Fargo & Co. Encino 2,199

Northridge Hospital Medical Center Northridge 2,182


T o p E m p l o y e r s L o s A n g e l e s C o u n t ySome of the largest employers in Los Angeles County are located within a 10-minute drive of the property.

EMPLOYER EMPLOYEES

County of Los Angeles 95,700

Los Angeles Unified School District 73,300

Federal Government** 48,100

City of Los Angeles (including DWP) 47,700

University of California, Los Angeles 41,000

Kaiser Permanente 36,500

State of California (non-education) 30,400

Northrop Grumman Corp. 18,000

University of Southern California 16,600

Target Corp. 14,200

Kroger Co. (Ralphs, Food 4 Less) 13,200

Bank of America 12,000

Cedars-Sinai Medical Center 12,000

Providence Health & Services 11,400

Boeing Co. 11,200

Walt Disney Co. 10,500

Home Depot 10,200

Wells Fargo 9,500

Metropolitan Transportation Authority 9,200

AT&T Inc. 8,900

California Institute of Technology 8,900

Edison International 8,900

ABM Industries Inc. 8,300

Raytheon Co. 8,200

Warner Bros. Entertainment Inc. 8,000

EMPLOYER EMPLOYEES

Long Beach Unified School District 7,800

Vons 7,700

Fedex Corp. 7,500

Dignity Health (formerly Catholic Healthcare West) 7,300

J.P. Morgan Chase 6,600

Amgen Inc. 6,000

City of Long Beach 6,000

Sony Pictures Entertainment 6,000

Costco Wholesale 5,600

Adventist Health 5,300

Long Beach Memorial Medical Center 5,100

Toyota Motor Sales USA Inc. 4,900

American Apparel 4,800

United Parcel Service (UPS) 4,700

99 Cents Only Store 4,500

Children’s Hospital of Los Angeles 4,200

Universal Services of America 4,200

Time Warner Cable 3,800

Whole Foods Market 3,800

Lockheed Martin Corp. 3,700

Wal-Mart Stores Inc. 3,500

CSU Long Beach 3,400

CSU Northridge 3,300

Albertsons Southern California Region 3,000



The property is proximate to the 101, 405, and 118 freeways, providing access to the entire Los Angeles Metro Area.

The Property is serviced by nearby transit routes and shuttles. The Metro Orange Line provides access to the west to Warner Center, north to Chatsworth and east to Van Nuys, Laurel Canyon, and North Hollywood. The Metro Red Line subway provides service from North Hollywood to Universal City, Hollywood, and Downtown Los Angeles.

Both the Balboa and Reseda Boulevard stations connect local residents to the Orange line. The Balboa Orange Line station is located at Balboa Boulevard, less than two miles away.

T r a n s p o r t a t i o n

16955 SHERMAN WAY IS LOCATED WITH THE PRIMARY TRADE CORRIDOR OF THE WEST SAN FERNANDO VALLEY.


6847-6843 WOODLEY AVE IS LOCATED WITHTHE PRIMARY TRADE CORRIDOR OF THEWEST SAN FERNANDO VALLEY.


SECTION 4 | M

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commitments. Our service guarantee provides you with peace of mind and the knowledge that we are committed to maximizing value, minimizing risk, and accelerating the transaction velocity for your property.

DEDICATED TEAM• Local market knowledge • Proven track record with similar sales projects• Dedicated, focused Team with specific

responsibilities• Unrivaled knowledge of the buyers in the market• Our company is committed to our relationships• Successful past and continuing transactional

representation with several clients

In order to effectively market 6847-6843 WOODLEY AVE., you need a real estate Team with the infrastructure to institute the complete marketing program and duties associated with an asset of this magnitude. A Team with proven investment and development experience, with defined roles and responsibilities assuring all aspects of the marketing process are executed effectively including:

• Asset market positioning• Financial underwriting• Investment offering preparation and distribution• Property tours• Competitive marketing process• Client advisement/recommendations• Contract and due diligence execution

PROPERTY POSITIONINGOur experience in selling similar properties in Los Angeles County leads us to the conclusion that through the implementation of our highly directed sale process, we would achieve within 98% - 95% of the recommended price if current market conditions remain consistent.

In order to expedite the sale of 6847-6843 WOODLEY AVE., property, we recommend seller initiate the following:

• Keep all tenants MTM or Short-Term Tenancy• Market property exclusively, widest exposure• Submit all copies of existing leases to listing agent.By incorporating these recommendations, the disposition will be orchestrated properly and uncertainty will be mitigated.

BRINGING VALUE AND CERTAINTY TO TRANSACTIONSHudson Commercial Partners, Inc. serves investors and owner users who place their own money into commercial, industrial and development real estate investments. We are committed to delivering enhanced expertise through a network of geographically focused and product specialized teams comprised of highly skilled professionals in order to achieve the highest sales price for your property while minimizing your capital and personal exposure in the shortest amount of time. Kelly Betpolice, Darin Spillman & Jay Martinez specialize in investment real estate properties in greater Los Angeles area.

AN INTEGRATED TEAMWe are a distinct specialty practice within Hudson Commercial Partners, Inc.. Every one of our members brings a highly focused expertise to ensure we provide

unsurpassed capital liquidity to multiple geographical locations and asset classes. Every member lives by our business principles. We focus on a commitment to share everything, without exception, in order to deliver on our promise to you. We do not recognize our members for individual revenue production. We recognize them for long-term, meaningful contributions such as client satisfaction, innovation, contribution to the platform and business growth. The health of our group is directly associated with your success. We cooperate with other brokers, whether inside or outside of Hudson Commercial Partners, Inc, on every assignment and to your best advantage.

A COLLABORATIVE PLATFORMAll investor and buyer information (40,000 and growing) resides in one database, contributed and shared by all members. We use our real time system to source the investors appropriate for your property and immediately market your property to them. We create greater demand for your property, more qualified buyers, and a higher sales price in the shortest amount of time. Our marketing process is automated and digitized.There is no limit to the number of investors we can manage and to whom we can market your property. We filter through thousands of potential buyers to find the most qualified prospects and focus our marketing efforts on producing offers from them.

DELIVERING ON COMMITMENTSWe guarantee to deliver on our commitments. At the beginning of an assignment, we clearly define our scope of services and guarantee in writing that we will keep our

MARKETING STRATEGY / POSITIONING & FINANCINGMARKETING STRATEGY / POSITIONING & FINANCING

Woodley Ave

Valjean Ave


TRANSACTION EXPERIENCE• How familiar are they with Los Angeles local

economics and leasing market?• Do they own property in the submarket / county?• What is their recent acquisition track record?• Which law firm will represent them?

MARKET & PROPERTY ASSUMPTIONS• What issues will they need to address during due

diligence?• What are their underwriting assumptions?• What are their return parameters?

CONTRACT/ESCROW AND CLOSING

CONTRACT NEGOTIATION AND EXECUTIONThe Team will work closely with you and the buyer to finalize and execute the Purchase and Sale Agreement. Our Team understands the “hot buttons” in Purchase and Sale negotiations and can provide valuable market intelligence to you during this phase.

DUE DILIGENCEOur Team will work closely with the buyer in order to support a controlled due diligence process thereby mitigating risk exposure to Ownership’s disposition objectives. Our Team will meet with the buyer to determine additional market data and information they need for approval. We will coordinate building inspections and tours as needed. We will track the buyer’s progress through the due diligence phase and keep Ownership informed. Key dates will be communicated to all parties.

TOUR SCRIPTINGWe script our tour to ensure the Property is presented in the best possible light. We will accompany buyers on all Property tours to minimize tenant disturbance. We understand buyer mentality and know how to “sell the story.”

MARKETING CALLSMarketing calls are made by the Team to create momentum. Personal calls and meetings will be arranged with key buyers to discuss the opportunity. Our Team has excellent relationships and credibility with capital sources and buyers, and will use these relationships to benefit you during the process.

BUYER SELECTION

DATE CERTAIN BIDA bid date may be set and we will instruct buyers to plan their Property tours and underwriting accordingly. All offers will be presented to Ownership on a spreadsheet comparing deal points.

BEST AND FINALUpon review of initial offers, investor interviews will be conducted to determine selections for the “best and final” process. The “best and final” process is designed to create a bidding environment to drive value. At this point it is critical to have Kelly Betpolice, Darin Spillman & Jay Martinez as the primary point of communication to buyers. This will ensure that there is no miscommunication during the bidding process. Kelly, Darin & Jay will conduct Buyer interviews and Buyers will be given key due diligence items and a purchase form and sale agreement to be taken into account in their final offer.

BUYER QUALIFICATION & SELECTIONOnce the “best and final” offers are received, the Team will discuss final buyer selection with you. With you, we will conduct any final negotiations. Once a buyer is selected, we will quickly format a master contact list and prepare for the due diligence phase. We will provide an escrow checklist highlighting all pertinent information for the sale. Qualifying prospective buyers is essential to a successful transaction. Our goal is to introduce the most qualified buyer who will pay the highest price and close without unnecessary renegotiations or delays. To accomplish this, Kelly, Darin & Jay extensively interviews each buyer and reports the findings to you.

FINANCIAL CAPABILITY• Who is/are the actual buying entity(ies)?• What is their source of funds and where are the

funds?• Are the funds discretionary?• Will they utilize debt? What is their anticipated

source?• What is the lender’s due diligence and underwriting

criteria?

DECISION MAKING PROCESS• What other approval processes are necessary?• Is investment committee approval required?• When and how often does the committee with final

approval authority meet?• What decision maker(s) need(s) to visit the Property

and who has to date?

MARKETING PROCESS

operating income and expenses, lease-up projections, residual valuation, replacement cost detail, and a matrix of pricing sensitivity.

DEFINE THE STORYIt is important that we clearly “define the story.” Our office product focus makes our Team uniquely qualified to make buyers comfortable with the real estate and the market. In addition, the dominant market position of Hudson Commercial Partners, Inc. is well recognized and adds unmatched credibility to our process. We will also clearly define potential marketing challenges and potential future value and clearly explain these to the buyers.

WEBSITE & MARKETING MATERIALSDuring the advisory phase we will begin preparing the actual Offering Memorandum, Flyer/Email Announcements, and customized offering on the Hudson Commercial Partners, Inc. website.

MARKETING

Hudson Commercial Partners, Inc. will conduct an aggressive and closely monitored marketing campaign to ensure investor focus. All likely buyers will be pre-qualified. We start the marketing process with an announcement email and hard mail flyer that are designed with an attractive photo and Property highlight information. These are sent to our targeted buyer list and to the brokerage community. We set up personal tours with interested buyers. The overall goal of our marketing phase is to create a competitive environment to drive value.

The marketing process is divided into five phases:PRE-MARKETING / DUE DILIGENCEADVISORYMARKETINGBUYER SELECTIONCONTRACT/ESCROW AND CLOSING

Our process is designed to achieve the overall objective of the marketing strategy. Our detailed marketing process contains the action steps and is outlined in the attached marketing timeline. Throughout each step in the marketing process, communication and collaboration between our Team and Ownership is critical. We are accountable to keep you informed throughout the marketing process. We will submit regular status reports and initiate regular meetings. This will enable a thorough resolution of questions and issues that arise from all involved parties during the marketing process.

PRE-MARKETING / DUE DILIGENCE

REQUEST & RECEIPT OF MATERIALSWe initiate pre-marketing/due diligence with a thorough list of property information that we request from you, the Title Company and other resources. This information is critical to achieve a successful transaction outcome.

FINANCIAL, PHYSICAL & OPERATIONAL REVIEWTo properly position your Property and to conduct an accurate and informative marketing campaign, our Team will complete a financial and operational review to include abstracting leases, creating lease summaries, and reviewing operating expenses and any other third party reports provided by you. This work as the basis for our marketing materials

and valuation recommendations. We will provide you a detailed list of recommended improvements or clean-up items to be completed on the Property prior to going to market and will make recommendations after this review on capital expenses that may be anticipated in the sale process.

MARKET/COMPETITIVE ANALYSISIn step with the financial, physical and operational review, we create a unique market positioning for the Property that offers investors a more compelling reason to purchase the Property. This incorporates our intimate knowledge of the lease market and competitive buildings. We will recommend a positioning strategy for future leasing including rental rates, leasing velocity, rent growth, and tenanting costs.

ADVISORY

The advisory phase overlaps with the Pre-Marketing/Due Diligence Phase. During this phase, the Team is in discussions with you regarding asset positioning, valuation and preparation of the marketing collateral.

PRICING & DEBT SCENARIOSAs a part of our price valuation we will pre-canvas the debt market in preparation to work with potential buyers and provide them options on the best possible leverage for their deal structure in the event a lender does not facilitate financing. These components are integrated into our pricing recommendation. We provide a detailed occupancy analysis that includes supportable underwriting assumptions, development projections,

MARKETING PROCESS


• HUDSON PARTNERS www.hudsonpartnersinc.com• COSTAR www.costar.com• REAL CAPITAL MARKETS www.rcm1.com • CCIM www.ccimnet.com• LOOPNET www.loopnet.com • PROPERTYLINE www.propertyline.com• DEALMAKERS www.dealmakers.net• CCIM www.ccimnet.com• AIR www.airea.com

DUE DILIGENCE MATERIALA package consisting of all relevant and available due diligence materials is assembled for prospective purchasers. Providing investors with a comprehensive due diligence package shortens the marketing time, and is helpful in minimizing the potential of a re-trade as all Property specific issues are known and disclosed early in the investigation of the Property.

BUYER CLOSINGWe work with the buyer through the inspections and due diligence. At closing, the Team will be involved in collecting estoppels, solving any necessary objections, discussing and negotiating any unknown expense items, reviewing closing statements and all other closing activities.

CLOSINGAt the conclusion of any transaction, it is important to celebrate our success. Our Team will plan a closing party for all parties to enjoy. We look forward to having a fun event with our clients at the conclusion of every transaction we execute.

MARKETING MATERIALS

DOUBLE-SIDED FLYERA double-sided flyer is designed for the Property. The flyer and a confidentiality agreement are distributed to prospective investors who prefer hard mail correspondence, and is designed to provide basic information on the offering, which is helpful in identifying a prospect’s interest in the Property.

EMAIL ANNOUNCEMENTA high image email announcement, that provides basic information on the offering, is designed for the Property and distributed to prospective investors and brokers. The Email contains html links that navigate investors back to the Property website. The website captures all investor information for personal follow-up, and allows the investors to instantly agree to confidentiality and download the Offering Memorandum.OFFERING MEMORANDUM

A comprehensive investment-offering memorandum is prepared for the Property. Detailed information regarding all aspects of the Property and market are provided via email and hard copy formats. Argus financial reports are utilized and available in email format.

INVESTOR DATABASEHudson Commercial Partners, Inc. maintains a comprehensive investor database that currently includes in excess of 10,000 investors. Our database is continually revised by our members. Investor information and parameters are constantly updated.

DIRECT MAILPreliminary color postcards are mailed regularly to targeted investors from our investor database. For those investors who prefer hard mail, the Property offering memorandum is available in bound color print.

INTERNET SITE/BROOKFIELD-PARTNERS.COMHudson Commercial Partners, Inc. website has property listings and brochures posted for unlimited exposure and networking. All our investment listings are summarized and placed on HudsonPartnersInc.com. Through the website, investors electronically agree to confidentiality and download offering materials. The website captures all investor information and provides us a target list for personal follow-up.

THIRD PARTY INTERNET SITESWe also use third party internet sites to build market awareness for the Property offering.

MARKETING PROCESS


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local and regional assignments but also multi-market projects. In order to better meet our tenants’ needs, we provide industry-leading research and technology, including operational and competitive analysis, demographic, zoning and density studies as well as tenant mix comparisons. We are proud to offer key market identification, store placement strategy, customer profiles, deal validation and market potential reports. Our vision is to find key locations for our clients that help make a quantifiable difference in their bottom line.

INVESTMENT SERVICES

We combine our market knowledge, experience and resources, which enables our clients to capitalize on the best investment opportunities available. Today, we are one of the leading providers of real estate investment property sales as well as advisory and debt placement services. In order for our clients to achieve their investment objectives, we offer site selection, market research, financial analysis and transaction negotiation.

The strength of our investment brokers lies in our collaborative platform to benefit clients, which include financial institutions, insurance companies, REITs, opportunity funds, pension funds and advisors as well as private investors. Every Hudson Commercial Partners, Inc. office has financial specialists, so clients are assured that we are in constant touch with financial sources and the investor community. Moreover, we understand and monitor the subtle shifts in the real estate cycle so that our clients’ goals can be met.

WHY HIRE HUDSON COMMERCIAL PARTNERS, INC.

1. A Team with a commitment to getting the job done that has the time and energy to implement the

marketing plan.

2. A partner with mutual goals.

3. A Team that exclusively represents the interests of Ownership, and not the interests of others.

4. A Team that creates a marketing plan, implements it, and remains accountable at all times.

5. A Team with accurate market and support data for educated decision-making.

6. A Team that has recent experience and success in selling similar retail assets.

7. A Team that covers all viable market areas with a presence in the submarkets of Southern California.

8. A Team that has the work ethic for which we are known and the willingness to always go the extra mile

for our clients.

9. A Team with references in investment sales of a similar product type.

10. A Team with a history of past successes in this product type.

11. A Team with the mix of experience, seniority, and youthful enthusiasm for the business.

12. A Team with specializations; exclusive investment sale representation.

13. A Team with a good working relationship with other brokers and the highest ethical and moral business

practices and professionalism.

14. A Team with a wide breadth of market exposure so that no potential transaction is overlooked.

15. A Team focused on cultivating long term relationships.

16. Finally and most importantly, a Team with whom you would most like to work and can unequivocally

trust to get the job done.

HUDSON COMMERCIAL PARTNERS, INC. OVERVIEW

Southern California. The firm’s industrial transactional specialists offer a comprehensive range of services, such as facility, site and land acquisition/disposition; advisory services; sale or lease negotiations based on strong market knowledge and current trends; and build-to-suit analysis and planning.

Hudson Commercial Partners, Inc. wide range of services are applicable to any of the diverse product types categorized as industrial buildings, from manufacturing plants and traditional bulk warehouse/distribution facilities, to more specialized research and development facilities, warehouse/showroom or flex space and high-tech laboratories. Hudson Commercial Partners, Inc. brokers represent institutional investors, individual investors, developers and publicly traded companies as well as large, mid-size and small entrepreneurial companies.

RETAIL SERVICES

We develop customized solutions for our clients’ retail real estate needs through our market-to-market knowledge and vast services, such as strategy, management, finance and brokerage. Our retail team consists of seasoned brokers (typically more than 10 years of experience) who specialize in their respective markets or product types. We stay abreast of the most up-to-date, efficient and effective retail trends and market research in order to achieve our clients’ goals.

SERVING THE TENANTSOur tenant representation experts can handle not only

COMPANY OVERVIEW

In 2012, Kelly Betpolice, Darin Spillman & Jay Martinez established Hudson Commercial Partners, Inc. office driven by the unique idea to turn real estate brokers into company owners or “shareholders.” His guiding philosophy centered on a belief that clients’ interests would be best served by a collective team effort from experienced sales agents who had an ownership stake in the privately held organization. This ownership can be earned through superior performance and demonstration of a strong sense of ethics and values. Not merely employees, profit-sharing Hudson Commercial Partners, Inc. owner/agents would strive to create a sense of shared responsibility and cooperation throughout the organization, and would encourage an orientation toward long-term client relationships and innovative business solutions. To further create a vested interest for the Broker/Agent, each principal has the ability to invest in each new office. The Principal’s profit-sharing concept has proven enormously successful, and has fueled the explosive growth of many group offices throughout worldwide.

HUDSON COMMERCIAL PARTNERS, INC. MISSION

Hudson Commercial Partners, Inc. of companies is dedicated to continuing its leadership role in the commercial real estate market place. These companies provide comprehensive and quality representation to clients locally and nationally in a proactive and responsive manner integrating the highest level of information, support, professionalism and integrity. Our core philosophy of creating an organization of companies, each independently owned by active commercial real estate agents, now translates into the largest agent-owned commercial real estate organization in America.

HUDSON COMMERCIAL PARTNERS, INC.UNSURPASSED CLIENT SERVICE

Today’s businesses are becoming increasingly complex and require unparalleled expertise and market knowledge. That’s why more and more companies throughout the country are entrusting their real estate decisions to Hudson Commercial Partners, Inc..

OFFICE BROKERAGE SERVICES

The firm’s office brokers negotiate various transactions, including mid- and high-rise properties, business and office parks, mixed-use projects, office land for development, multi-tenant buildings and commercial investments. Our brokers analyze the financial arrangements to streamline transactions, and use innovative marketing efforts and unique transaction structuring to provide creative solutions to meet the client’s needs. Our comprehensive service line includes owner and tenant leasing, acquisition and sales, along with marketing and consulting capabilities. We focus on strategic counseling, rather than merely the transaction, in order to execute the best possible real estate strategies for our clients. This includes building strong relationships within the brokerage community overall. As a result, our clients are assured of the broadest exposure possible.

INDUSTRIAL SERVICES

Over the years, Hudson Commercial Partners, Inc. has earned a reputation as one of the leaders in commercial real estate services in selected markets throughout the

HUDSON COMMERCIAL PARTNERS, INC. OVERVIEW


MARKETING COLLATERAL

Hudson Commercial Partners, Inc. offers a wide range of state-of-the-art marketing collateral. Our website marketing process is entirely automated and digitized. There is no limit to the number of investors we can manage and to whom we can market your property. Recent client feedback indicates that the “streamlined” version of our Offering Memorandum is much preferred (and appreciated) in today’s information-rich and time constrained environment. All salient collateral information and statistics will be readily available as a supplement to qualified investors. Hudson Commercial Partners, Inc. offers our marketing collateral in web-based; glossy, hardbound; electronic; and streamlined formats; or any variation thereof as requested by investors.

MARKETING EXPENSES

Hudson Commercial Partners, Inc. is responsible for all marketing expenses.

OUTSIDE BROKER COOPERATION

To ensure that the Property receives the maximum exposure to all potential buyers, we fully cooperate with the brokerage community. This is our practice on every assignment because it is to your best advantage.

RETENTION TERM

Hudson Commercial Partners, Inc. proposes a six (6) month exclusive listing agreement.

OVERVIEW

Hudson Commercial Partners, Inc. objective in marketing 6847-6843 WOODLEY AVE., property will be to deliver the highest quality marketing exposure to a pre-qualified group of investors. Our collaborative platform ensures that the partners will receive the maximum price from the most credible buyers, while ensuring them minimum risk in the shortest amount of time. By awarding Hudson Commercial Partners, Inc. this very important assignment, our sole responsibility will be to represent the Sellers’ best interests. Exclusive representation will ensure the best service possible due to the protection it affords.

PROPOSED ENGAGEMENT TERMS

VAN NUYS TRANSIT CORRIDOR

A 9.2-mile Light-Rail Line between the Orange Line’s Van Nuys Station andthe Sylmar/San Fernando Metrolink Station was approved by the MetroBoard of Directors today as the “preferred alternative” for the East SanFernando Valley Transit Corridor project...The new rail line would run mostlydown the center of Van Nuys Boulevard and along the railroad right-of-waythat is adjacent to San Fernando Road. The line would have 14 stations withan end-to-end travel time of 31 minutes. Metro staff determined that lightrail was faster, offered more capacity and would better serve thecommunity in the future than bus rapid transit (BRT), the other type oftransit under study for the project.

Transit corridors are game changers for communities. Property values aswell as rents are rising rapidly along these corridors re-energizingcommunities from the rail lines outward. This expansion is spurring majordevelopments along these Transit Corridors. Rents and Property Valuesalong these lines are in general out-pacing the increases in almost all otherareas of the city.

(TheSource.metro.net, June 28 2018)

9.2 MILE LIGHT-RAIL APPROVED BY METRO BOARD FOR VAN NUYS BLVD


70 - HUDSON COMMERCIAL PARTNERS, INC.

KELLY BETPOLICEManaging Principal

11846 Ventura Blvd.Suite 140Studio City, CA 91604

Cal BRE: 01470894

CONTACT

C: 310.403.8544P: 818.462.8249F: 818.332.4977E: [email protected]

6847-6875 N. WOODLEY AVE. VAN NUYS, CA 91406 · S Los Angeles St ve Balboa Blvd ay ictory Blvd ictory Blvd anowen St Woodley Lakes Golf Course Encino Golf Course Woodley Park VAN

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