Short Stop Market I 3000 SF

OFFERING MEMORANDUM

OFFERING MEMORANDUM

This property is listed in cooperation with Idaho-licensed real estate broker Peter Kevin O’Brien.

Yellowstone ShopsChubbuck, ID

Rosamond Plaza Rosamond, Ca

Two 4500 SF Pads

Rosamond Plaza Rosamond, Ca

Two 4500 SF Pads

Short Stop Market I 3000 SF

TABLE OF CONTENTS

Michael Mafia and Putnam Daily in cooperation with Cushman & Wakeield Paciic Commercial Realty Advisors (“Broker”) has been retained on an exclusive basis to market the property described herein (“Property”). Broker has been authorized by the Seller of the Property (“Seller”) to prepare and distribute the enclosed information (“Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed inancial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide inancial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualiied investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been veriied by the Seller or its afiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective afiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or oficers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available inancing, and must independently conirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

Disclaimer

PROPERTY HIGHLIGHTS 1

PROPERTY OVERVIEW 2

FINANCIAL ANALYSIS 3

RENT ROLL 6

TENANT INFORMATION 7

SITE PLAN 9

AERIALS 10

ABOUT THE AREA 12

DEMOGRAPHICS 14

Michael MafiaManaging Partner

415.373.4060

[email protected]

CA RE License #01340853

LISTING CONTACT:

Putnam Daily

Partner - Brokerage Division

415.445.5107

[email protected]

CA RE License #01750064

Broker of Record:

Peter Kevin O’BrienID RE License #DB28235Cushman & WakeieldPaciic CommercialRealty Advisors398 S 9th St, Ste 260Boise, ID 83702

LeAnn Hume, CCIM, CLS

Senior Director

208.287.8436

[email protected]

Andrea Nilson

Senior Director

208.287.8439

[email protected]

Sara Shropshire, CRRP

Associate Director

208.287.9494

[email protected]

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Star Commercial Properties (“Broker”) has been retained on an exclusive basis to market the property described herein (“Property”). Broker has been authorized by the Seller of the Property (“Seller”)to prepare and distribute the enclosed information (“Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity andmake an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate. The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any otherpurpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma. Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Propertyunless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed tohave acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto. Property walk-throughs are to be conducted by appointment only. Contact Broker foradditional information.

LISTING CONTACT: Star Commercial PropertiesDavid C. Perry, Broker16725 Bellflower Blvd, Bellflower, Ca [email protected] BRE # 00572110

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,

Star Commercial Properties (“Broker”) has been retained on an exclusive basis to market the property described herein (“Property”). Broker has been authorized by the Seller of the Property (“Seller”)to prepare and distribute the enclosed information (“Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity andmake an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate. The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any otherpurpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma. Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Propertyunless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed tohave acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto. Property walk-throughs are to be conducted by appointment only. Contact Broker foradditional information.

LISTING CONTACT: Star Commercial PropertiesDavid C. Perry, Broker16725 Bellflower Blvd, Bellflower, Ca [email protected] BRE # 00572110

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PROPERTY HIGHLIGHTS

• 100% Leased Retail Center with Scheduled Rental Escalations in Majority of Leases

• Internet-Resistant Mix of National Credit Tenants and Major Franchisees

- Restaurant, Service, and Medical Tenants Insulated from E-Commerce Shifts

• Adjacent to Pocatello Square Shopping Center

- Major Anchor Tenants Neighboring Site include Costco & Walmart Supercenter

• Excellent Access and Visibility Along Yellowstone Avenue and Pole Line Road

- Combined AADT of 48,800

• Robust Demographics in Surrounding Area

- Total Daytime Population of 72,195 within 5 Miles of Site

• Located in North Yellowstone Urban Renewal Area

- Named “Best Planning Project” in State of Idaho

- More than $9.3 Million in Infrastructure Investment

- Estimated Additional Market Value of $76.5 Million

• Less than Half a Mile from Amy’s Kitchen’s Pocatello Food Processing Plant

- 6th Largest Employer County-Wide

- Employment at Facility Has Nearly Doubled Since 2017, with Ongoing Growth Plans

• Neighbors Pine Ridge Mall, Regional Shopping Center Drawing 3.5 Million Visitors per Year

• Approximately 2 Miles from 1000-Acre Master-Planned Northgate Development

- Slated to Include 10,000 Residential Units, 1+ Million square feet of Ofice Space, and New Medical Campus

100% Occupied Retail Center with Scheduled Rental Escalations in

Internet-Resistant Mix of Tenants

Near Entrance to Edwards Air Force Base

Excellent Access and Visibility Along Rosamond Boulevard

Internet-Resistant Mix of Tenants

Near Entrance to Edwards Air Force Base

Excellent Access and Visibility Along Rosamond Boulevard

100% Occupied Retail Center

Unencumbered, Debt-Free Asset – With no existing financing in place, Rosamond Plaza allows investors the ability to obtain new financing

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Approximately 2 Miles from A New Development- Asher Ranch III •

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Below Replacement Cost – At a list price of only $132 PSF

Long Term Restaurant tenant, Service, and Medical Tenants Insulated from E-Commerce.

Located near entrace tot he Air Force Flight Test Center (AFFTC), Edwards Air Force Base, Ca, which is the Air Force Materiel Command center of excellence for research, development, and test and evaluation of aerospace systems for the United States and its allies. It also operates the U.S. Air Force Test Pilot School and supports non-military government agencies. Almost every United States military aircraft since the 1950s has been at least partially tested at Edwards. It is currently operated and maintained by the 95th Air Base Wing as a part of the Air Force Materiel Command. There are 10,000 Active Duty Military, Family Members, and over 8,000 Military Retirees, Civilian Employees and Reserve Components at Edwards AFB.

Located In Designated Opportunity Zone- https://opzones.ca.gov/oz-map/

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PROPERTY OVERVIEW

The InvestmentYellowstone Shops offers an investor the unique opportunity to acquire a recently

constructed and 100% leased retail shops building shadow-anchored by Walmart

Supercenter and Costco with an internet-resistant array of national credit

tenants and major franchisees. The property beneits from a prominent retail location within an established, growing retail corridor, robust demographics in

the surrounding area, and scheduled rental escalations in the majority of leases.

With excellent access and visibility along Yellowstone Road near its junction with

Pole Line Road (48,800 combined AADT), an investor will beneit from scheduled increases in income, a diversiied income stream, and asset appreciation with this property.

LocationThe property is located at 4013 Yellowstone Avenue in Chubbuck, Idaho.

Lot SizeApproximately 1.57 acres or 68,354 square feet.

ImprovementsAn 11,040 square foot building demised into ive retail suites.

Chipotle (DARK) | 2,115 sq ft

Eyemart | 3,190 sq ft

Kay Jewelers | 1,802 sq ft

Noodles & Company | 2,600 sq ft

Pizza Hut | 1,331 sq ft

ParkingThere are 133 parking spaces available on site.

A 30,000 square of improvements demised into retail suites.

Approximately 3.95 acres or 172,062 square feet. retail center.

Ramon's Mexican Restaurant I 2640SF

Lighthous Ministry I 2950 SF

H & R Block I 1200 SF

There are 228 parking spaces available on site.

The property is located at 1415-1431 Rosamond Boulevard in Rosamond, California.

A 30,000 square of improvements demised into retail suites.

Approximately 3.95 acres or 172,062 square feet. Rosamond Plaza offers an investor the opportunity to acquire a 100% occupied

Ramon's Mexican Restaurant I 2640SF

Glumera I 4710 SF

Lighthous Ministry I 2950 SF

H & R Block I 1200 SF

Short Stop Market I 3000 SF

There are 228 parking spaces available on site.

retail center with an internet-resistant array of tenants

.

The property beneits from a retail location within an established, growing retail corridor, and scheduled rental escalations. An investor will benefit from scheduled increases in income, a diversified income stream, and asset appreciation with this property. Two buildable 4,500 SF Pads provide a substantial upside opportunity with possible Opportunity Zone benefits: https://www.ca-ilg.org/sites/main/files/file-attachments/2019-ccvedc-opportunity-zones-final.pdf?1554851642

The property is located at 1415-1431 Rosamond Boulevard in Rosamond, California93560.

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FINANCIAL ANALYSIS PRICING

PRICE

$4,547,0007.50% Return

Projected Gross RevenueYEAR 1 YEAR 10

Base Rental Revenue $355,543 $425,617

Scheduled Base Rental Revenue $355,543 $425,617

Expense Reimbursement Revenue $114,409 $141,832

Total Potential Gross Revenue $469,952 $567,449

Effective Gross Revenue $455,428 $550,028

YEAR 1 YEAR 10

Net Operating Income $341,018 $408,196

CAP Rate 7.50% 8.98%

Annual ExpensesProperty Taxes $40,289 $52,568

Property Insurance $2,208 $2,880

Common Area Maintenance $67,884 $81,127

Management Fee @ 10% of CAM $4,029 $5,257

Total Operating Expenses $114,410 $141,832

Financing

The property will be delivered free and clear of permanent inancing.

NoteThe net income is an estimate and does not provide for all potential costs and expenses (i.e. maintenance, repair, etc.) that may be required of the owner. Any reserves set forth herein are merely estimates and not based on any experience, physical inspection, or prior knowledge. All prospective purchasers are strongly advised to make an independent investigation to determine their estimate of costs and expenses prior to entering into an agreement to purchase.

Expenses

Effective Net Revenue

Management Fee

Expenses

Effective Net Revenue

Management Fee

$

$

$5$5,930

$

Gross Scheduledl Revenue $384,823

$48,668

$17,000

Estimated New P r o p e r t y Ta xe s $41,745

Annual Expenses

$113,343

$271,480

$113,343

$3,390,0008% Return

$271,480

8 %

General Assumptions

Analysis Date January 1, 2020

Total Rentable Area 11,036 SF

Total Area for CAM

Reimbursement Calculations11,036 SF

General Inlation per Annum 3.00%

General Expense Growth per Annum

3.00%

Real Estate Tax Growth per Annum

2.00%

Management Fee 10% of CAM

General Vacancy 5%

Tenants Excluded from

General Vacancy

Pizza Hut, Noodles &

Company

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FINANCIAL ANALYSIS GENERAL ASSUMPTIONS

30,000 SF

4500 SF Pad

4500 SF Pad

30,000 SF

4500 SF Pad

4500 SF Pad

10% of CAM

5%

11,036 SF

per Annum

per Annum

2.00%

ContactDavid C. PerryBrokerBRE 00572110714.21.4477 [email protected]

February 1, 2020