102 PERSIAN DRIVE SUNNYVALE, CALIFORNIA

OFFERING MEMORANDUM

CORE MULTI-TENANT OFFICE BUILDING

CONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to

provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to

the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information

contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service

mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's

logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to

prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

ACTIVITY ID: ZAA0010614

TABLE OF CONTENTS

E X C L U S I V E LY L I S T E D B YT R A M M E L L G R O U P O F M A R C U S & M I L L I C H A P

KIRK TRAMMELL | Executive Managing Director Investments | Office (650) 391-1809 | kirk.trammell@marcusmillichap.com | CA DRE #01038657JOSHUA JOHNSON | Vice President Investments | Office (650) 391-1784 | joshua.johnson@marcusmillichap.com | CA DRE #01930127

DAVID CUTLER | Vice President Investments | Office (650) 391-1753 | david.cutler@marcusmillichap.com | CA DRE #01514751

FOR ALL OF OUR AVAILABLE LISTINGS, PLEASE VISIT: WWW.TRAMMELLGROUPMM.COM

04Executive Summary

05Investment Highlights

09Aerial Map

10Sunnyvale Major Employers

TABLE OF CONTENTS

16Rent Roll

17Financial Analysis

19City Overview

21Demographics

102 PERSIAN DRIVE, SUNNYVALE, CA

102 PERSIAN DRIVESUNNYVALE, CA 94087

102 PERSIAN DRIVE, SUNNYVALE4

EXECUTIVE SUMMARY

Proforma CAP Rate 5.69%

Gross Leasable Area 6,530 SF

Site Size 0.39 Acres

Year Built 1985

Occupancy 57.1%

Number of Suites Five

Number of Floors Two

Assessor's Parcel Number 110-11-066

Zoning C1/PD

S A L E P R I C E $ 3 , 5 0 0 , 0 0 0

Easy Access from Highway 237

Attractive Population and Income Demographics

Close Proximity to Major Employers

102 PERSIAN DRIVE, SUNNYVALE 5

INVESTMENT HIGHLIGHTS

► Corner Lot with Access on Persian and Borregas fronting Highway 237 ► Steps from Borregas Foot Bridge to Access North Sunnyvale home of Google Cloud ► Incredible Repositioning Opportunity with Vacant Suites and Short Term Leases ► Median Household Income of $105,288 and the population has grown 16.9% since 2000 ► Easy Access to High Tech Companies such as Google, Apple, LinkedIn, Samsung, Juniper Networks, Lockheed

Martin, NetApp, Symantec and Sutter Health ► Next door to new 18-Townhome Development by renowned builder DR Horton

102 PERSIAN DRIVE, SUNNYVALE6

PROPERTY PHOTOS

102 PERSIAN DRIVE, SUNNYVALE 7

PROPERTY PHOTOS

102 PERSIAN DRIVE, SUNNYVALE8

18-Townhome Development By DR Horton

Borregas Foot Bridge

Less than a mile from Google Cloud

STEPS FROM BORREGAS FOOT BRIDGE AND GOOGLE CLOUD

PERSIAN DRIVEBORREGAS AVEN

UESUBJECT

PROPERTY

102 PERSIAN DRIVE, SUNNYVALE 9

AERIAL MAP

DOWNTOWNSUNNYVALE

SANTA CLARA

MOFFET FIELD

SHORELINE AMPHITHEATRE

THE SUBJECT PROPERTY IS CENTRALLY LOCATED AMONG SILICON VALLEY TOP HIGH TECH COMPANIES

N

SUBJECT PROPERTY

SUNNYVALEMAJOR

EMPLOYERS

GoogleJuniper NetworksLockheed Martin

AppleLinkedInNetAppAmazon

Intuitive SurgicalWest Valley Engineering

PREMIER HIGH-TECH CENTER

N

Sunnyvale

Cupertino

Santa Clara

San Jose

Mountain View

Palo Alto

SUBJECT PROPERTYSUBJECT PROPERTY

102 PERSIAN DRIVE, SUNNYVALE 11

SUNNYVALEMAJOR

EMPLOYERS

REGIONAL AND LOCAL MAP

S U B J E C T P R O P E R T Y

N

102 PERSIAN DRIVE, SUNNYVALE12

PARCEL MAP

ASSESSOR’S PARCEL NUMBER : 110-11-066

102 PERSIAN DRIVE, SUNNYVALE 13

Repositioning Opportunity with Vacant Suites

102 PERSIAN DRIVE, SUNNYVALE14

FLOOR PLANS

SUITE 1011,400 SQUARE FEET

FIRST FLOOR

VACANT

102 PERSIAN DRIVE, SUNNYVALE 15

FLOOR PLANS

1,600 SF 1,400 SF

1,400 SF

730 SF

LOBBY

CONF

CONF

SLI

DIN

G D

OO

R

SUITE 203

SUITE 202

SUITE 201

SUITE 203

SUITE 204

SUITE 201

VACANT

SECOND FLOOR

102 PERSIAN DRIVE, SUNNYVALE16

RENT ROLL

SUITE TENANT SIZE (SF) % OF TOTAL LEASE

EXPIRATIONANNUAL

RENTMONTHLY

RENTRENT PSF

MONTHLY RE TAX

MONTHLY INSURANCE

MONTHLY CAM

TOTAL MONTHLY INCOME

MONTHLY INCOME PSF

101 VACANT 1,400 21.4% N/A N/A N/A N/A $776.02 $30.03 $331.43 $1,137.49 $0.81

201 CRAVE 10 Inc. 1,400 21.4% Jun-20 $33,600.00 $2,800.00 $2.00 N/A N/A N/A $2,800.00 $2.00

202 CDM Smith Inc. 730 11.2% Apr-20 $18,900.00 $1,575.00 $2.16 N/A N/A N/A $1,575.00 $2.16

203 VACANT 1,400 21.4% N/A N/A N/A N/A $776.02 $30.03 $331.43 $1,137.49 $0.81

204 Nancy Williamson 1,600 24.5% Apr-20 $35,160.00 $2,930.00 $1.83 N/A N/A N/A $2,930.00 $1.83

Total 6,530 100.0% $87,660.00 $7,305.00 $1.12 $1,552.04 $60.07 $662.87 $9,579.98 $1.47

Occupied 3,730 57.1%

Vacant 2,800 42.9% * Market rent and expenses are estimates

102 PERSIAN DRIVE, SUNNYVALE 17

SUITE TENANT SIZE (SF) % OF TOTAL LEASE

EXPIRATIONANNUAL

RENTMONTHLY

RENTRENT PSF

MONTHLY RE TAX

MONTHLY INSURANCE

MONTHLY CAM

TOTAL MONTHLY INCOME

MONTHLY INCOME PSF

101 VACANT 1,400 21.4% N/A N/A N/A N/A $776.02 $30.03 $331.43 $1,137.49 $0.81

201 CRAVE 10 Inc. 1,400 21.4% Jun-20 $33,600.00 $2,800.00 $2.00 N/A N/A N/A $2,800.00 $2.00

202 CDM Smith Inc. 730 11.2% Apr-20 $18,900.00 $1,575.00 $2.16 N/A N/A N/A $1,575.00 $2.16

203 VACANT 1,400 21.4% N/A N/A N/A N/A $776.02 $30.03 $331.43 $1,137.49 $0.81

204 Nancy Williamson 1,600 24.5% Apr-20 $35,160.00 $2,930.00 $1.83 N/A N/A N/A $2,930.00 $1.83

Total 6,530 100.0% $87,660.00 $7,305.00 $1.12 $1,552.04 $60.07 $662.87 $9,579.98 $1.47

Occupied 3,730 57.1%

Vacant 2,800 42.9% * Market rent and expenses are estimates

OPERATING DATAVacant Space at Market Market Rent

Total $ PSF Total $ PSF

Rental Income $188,460 $28.85 $235,152 $36.00

Expense Reimbursement $2,275 $0.35 $63,667 $9.75

Vacancy (5.0%) ($9,537) ($1.46) ($14,941) ($2.29)

Effective Gross Income $181,198 $27.74 $283,878 $43.46

Real Estate Taxes $43,435 $6.65 $43,435 $6.65

Property Insurance $1,681 $0.26 $1,681 $0.26

Electricity $4,899 $0.75 $4,899 $0.75

Water $1,829 $0.28 $1,829 $0.28

Common Area Utilities $1,306 $0.20 $1,306 $0.20

Trash Removal $3,789 $0.58 $3,789 $0.58

Repairs & Maintenance $9,798 $1.50 $9,798 $1.50

Janitorial $2,939 $0.45 $2,939 $0.45

Landscaping $2,156 $0.33 $2,156 $0.33

General & Administrative $1,633 $0.25 $1,633 $0.25

Management Fee (4.0%) $7,248 $1.11 $11,355 $1.74

Total Operating Expenses $80,713 $12.36 $84,820 $12.99

Net Operating Income $100,485 $15.38 $199,058 $30.47

Price $3,500,000 $535.82 $3,500,000 $535.82

Capitalization Rate 2.87% 5.69%

* Market rent and expenses are estimates

102 PERSIAN DRIVE, SUNNYVALE18

CENTRALLY LOCATED AND EASILY ACCESSIBLE

SUBJECT PROPERTY

102 PERSIAN DRIVE, SUNNYVALE 19

CITY OVERVIEW

Sunnyvale is located in Santa Clara County at the southern end of the San Francisco Bay; it is ten miles north of San Jose and fifty

miles south of San Francisco. The city is located in the heart of Silicon Valley and the economy is concentrated in the technology

sector. Major employers in the city include Google, LinkedIn, Juniper Networks, Apple, Yahoo, Intuitive Surgical, Lockheed Martin,

NetApp, and Amazon Lab126. In addition to technology jobs, the retail, health services, and educational services sector play an

important role in the local economy.

At the end of 2018, Sunnyvale had an estimated population of 151,549. This represents a 16.9% increase over the population in

2000. Future population growth will be constrained by the lack of available land for development, increasing construction costs, and

political hurdles to new development. There is significant demand for housing in Sunnyvale, but these factors will limit the addition

of new inventory to the market. The median household income in the city is estimated at $119,774 and the per capita income is

estimated at $63,628. The median income for the city is forecast to grow steadily, with an 21.6% increase of to $145,601.

ABOUT SUNNYVALE, CALIFORNIASacramento

San Francisco

Sunnyvale, CA

Silicon Valley

102 PERSIAN DRIVE, SUNNYVALE20

SILICON VALLEY OVERVIEW

Silicon Valley is the home of the largest technology corporations in the U.S. It is located in Northern California, within the southern region of San Francisco. Its name is derived

from the dense concentration of electronics and computer companies that sprang up there since the mid-20th century, silicon being the base material of the semiconductors

employed in computer circuits. The economic emphasis in Silicon Valley has now partly switched from computer manufacturing to research, development, and marketing of

computer products and software. Silicon Valley’s dense concentration of high-tech jobs is world renowned, attracting a variety of large employers and startups.

The metro contains roughly 2 million inhabitants in 15 cities. More than half of the region’s residents reside in the city of San Jose. It is the metro’s largest city with more than

1 million residents, followed by Sunnyvale and Santa Clara. Venture capital funds received in the 1990s helped to turn the area into the world’s most prominent technology

hub, a distinction that remains today. Sunnyvale and Silicon Valley, have generated a path of continuous growth, responding to the constant demand drivers of high

technology innovation.

LOCATION HIGHLIGHTS

PREMIER HIGH-TECH CENTER HIGH INCOMES HIGHLY EDUCATED WORKFORCE

Nearly half of all residents age 25 and older have obtained at least a

bachelor’s degree, well above the U.S. average.

There are many Fortune 500 companies headquartered in Silicon Valley, including Intel, Cisco Systems,

Apple Inc., eBay and Google Inc.

The Silicon Valley metro employment base contains more than 1 million workers, ranking the metro as one

of the 30 largest job markets in the nation.

Google Campus Apple Park Campus

102 PERSIAN DRIVE, SUNNYVALE 21

HIGHLY EDUCATED WORKFORCE

DEMOGRAPHICS

5-Mile Radius

3-Mile Radius

1-Mile Radius

TOTAL POPULATION - 3 MILES

AVERAGE HH INCOME - 3 MILES

MEDIAN HOUSEHOLD INCOME - 3 MILES

1 1 7, 6 6 0

$ 1 5 2 , 2 8 3

$ 1 1 1 , 7 5 9 1 MILE 3 MILE 5 MILE

Total Population 18,634 117,660 358,482

Average Household Income

$139,741 $152,283 $165,180

Median Household Income

$105,288 $111,759 $120,539

KIRK TRAMMELL | Executive Managing Director Investments | Office (650) 391-1809 | kirk.trammell@marcusmillichap.com | CA DRE #01038657JOSHUA JOHNSON | Vice President Investments | Office (650) 391-1784 | joshua.johnson@marcusmillichap.com | CA DRE #01930127

DAVID CUTLER | Vice President Investments | Office (650) 391-1753 | david.cutler@marcusmillichap.com | CA DRE #01514751

E X C L U S I V E LY L I S T E D B YT R A M M E L L G R O U P O F M A R C U S & M I L L I C H A P

FOR ALL OF OUR AVAILABLE LISTINGS, PLEASE VISIT: WWW.TRAMMELLGROUPMM.COM

SUNNYVALE, CALIFORNIA

102 PERSIAN DRIVE

CORE MULTI-TENANT OFFICE BUILDING