15200 BLEDSOE STREET

SYLMAR, CALIFORNIA

INDUSTRIAL DEVELOPMENTOPPORTUNITY

BLEDSOE STREETSYLMAR, CA 91342

PRESENTED BY:NICHOLAS BORRELLICOLDWELL BANKER COMMERCIAL NRT

C. 626.484.7975D. 626.574.2302nborrelli@coldwellbanker.comCalRE# 01481673

This offering is subject to prior placement, withdrawal, cancellation, or modification without notice. The information contained herein has been carefully compiled from sources we consider reliable, and while not guaranteed as to completeness or accuracy, we believe it to be correct as of this date. The pro-forma revenues and expenses set forth in this brochure do not constitute a representation, warranty, or guaranty of any of the numbers set forth herein or of any economic value attributable to the property or income that may be derived therefrom. Independent estimates of proforma revenues and expenses should be developed before any decision is made on whether to invest in the property.

15200

STATEMENT OF CONFIDENTIALITY & DISCLAIMER

Coldwell Banker Commercial NRT “CBC” has been engaged as the exclusive financial advisor to the Seller in connection with the Seller’s solicitation of offers for the purchase of the property know as 15200 bledsoe street located at 15200 bledsoe street in the City of Sylmar, County of Los Angeles, State of California (the “Property”). The Prospective purchasers are advised that as part of the solicitation process, Seller will be evaluating a number of factors including the current financial qualifications of the prospective purchaser. Seller expressly reserves the right in its sole and absolute discretion to evaluate the terms and conditions of any offer and to reject any offer without providing a reason therefore. Further, Seller reserves the right to terminate the solicitation process at any time prior to final execution of the Purchase Agreement.The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property, and it is not to be used for any other purpose or made available to any other person without the express or written consent of Seller or CBC. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by CBC from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and qualified in their entirety by the actual document to which they relate. No representation or warranty, expressed or implied, is made by the Seller, CBC, or any of their respective affiliates as to the accuracy or completeness of the information

contained herein. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence, including engineering and environmental inspections to determine the condition of the Property and the existence of any potential hazardous material located at the Property site or used in the construction or maintenance of the building at the Property site.A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an execute Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against the Seller or CBC or any of their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing sale of the Property.Prospective purchasers are not to construe the contents of the Offering Memorandum or any prior or subsequent communication form CBC or Seller of their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents as legal, tax, or other advice. Prior to submitting an offer, prospective purchasers should consult with their own legal counsel and personal and tax advisors to determine the consequences of an investment in the Property and arrive at an independent evaluation of such investment.

TABLE OF CONTENTS

Investment Summary Property Details Investment Highlights

Sylmar OverviewNeighborhood Surrounding Area Map

Proposal Price

ABOUT THE INVESTMENT

AREA OVERVIEW

OFFERING PROCEDURE

BLEDSOE STREETSYLMAR, CA 9134215

200

INVESTMENT SUMMARYOFFERINGFirst Time that this property has been on the market in over 38 years. A true trophy industrial piece of land located in the heart of Sylmar’s Industrial core market. The property is located between two major freeways, Interstate 5 free-way and Interstate 210 freeway connecting the Inland Empire to the San Fer-nando Valley. This opportunity is one of the largest vacant industrial pieces of land available in Sylmar. The offering gives an Owner/user the opportunity to acquire approximately 98,000 Square feet of land to build an Industrial building to occupy. It also creates the opportunity for an investor to add to their portfo-lio as an NNN investment in the thriving industrial market in the San Fernando Valley. As the ownership is currently in the process of finalizing a lot line ad-justment, this will give the prospective buyer the advantage of completing their entitlements and reducing the carrying costs while the ownership is finalizing the lot line adjustment. There is also an opportunity to acquire an additional 2 acres +/- of adjacent land and improvements. Please inquire for additional information.

PROPERTY SPECIFICATIONS

Lot Size ZoningZoning Information (ZI)Zoning Information (ZI)

Location

2.5 Acres +/-M2-1ZI-1117 MTA PROJECT,ZI-2374 LOS ANGELES STATE ENTERPRISE ZONE NORTH EAST CORNER OF SAN FERNANDO ROAD & BLEDSOE

15200 BLEDSOE STREET

INDUSTRIAL DEVELOPMENTOPPORTUNITY

BLEDSOE STREETSYLMAR, CA 91342

ADDRESS/LEGAL BASIC ZONING INFORMATION FOR PARCEL

PLANNING & ZONING

1520

0

Site Address Alquist-Priolo Fault Zone15200 W. Beldsoe Street No91342 North Valley

222B145 150 NoApprox. 98,000 (Sq Ft) No2506002014 SylmarTR 19456 NoM B 515-29/34 7None NoFR 33 NoNone No222B145 No

SylmarM2-1

M2-1ZI-1117 MTA Project,

Light IndustrialYesNoNone

ZI-2374 LOS ANGELES STATE ENTERPRISE ZONE

Zoning

Zip Code Area Planning Commission

Zoning Information (ZI)Zoning Information (ZI)

Pin Number Baseline Hillside Ordinance

General Plan Land Use

Lot/Parcel Area (Calculated) Baseline Mansionization Ordinance

General Plan Note(s)

Assessor Parcel No. (APN) Certified Neighborhood Council

Hillside Area (Zoning Code)

Tract Community Redevelopment

Specific Plan Area

Map Reference Council DistrictBlock Flood Hazard ZoneLot Hillside Grading AreaARB (Lot Cut Reference) Hillside Ordinance AreaMap Sheet LA Preliminary Fault Study Area

Planning Area / Community NameZone(s)

BLEDSOE STREET

OVERVIEW BLEDSOE STREET

1520

0

The East San Fernando Valley Submarket is one of thenorthernmost submarkets in LA, with the AngelesNational Forest to its east and the Tri-Cities to thesouth. Manufacturing has been a staple of thecommunity since the 1970s, and recent growth inlogistics has helped offset some of the downsizing andoffshoring in the sector. Strong demand

has kept the vacancy rate low for much of this cycle, spurring robustrent growth. Deliveries have been sparse recently andinventory has grown by 2% since 2010—a similar rate asthe metro as a whole. Most transactions are in the $1million to $3 million range and sales volumes has heldsteady throughout this cycle.

12 MONTHS DELIVERIES IN SF 12 MO NET ABSORPTION IN SF

361K 16.5KVACANCY RATE 12 MO RENT GROWTH

1.6% 6.8%

LogisticsSpecialized Industrial Flex

Vacancy Change (YOY)Net Absorption SFDeliveries SFRent GrowthSales Volume

36,948,6258,586,4542,108,783

0.7%16.5K361K6.8%$148M

1.6%1.6%1.4%

2.8%205,847195,9003.6%$133.5M

$1.12$1.18$1.30

2.5%(171,067)55,6563.0%N/A

2.3%4.2%6.5%

4.8%1,093,799615,1649.1%$217.3 M

(176,562)(12,687)(11,884)

2103 Q22013 Q32001 Q42016 Q12014 Q4

000

0.9%(1,134,439)0-4.8%$35.3M

000

2017 Q22005 Q12012 Q32009 Q42009 Q4

CURRENT QUARTER

ANNUAL TREND

KEY INDICATORS

SUBMARKET 47,643,862 (201,133)1.6% 2.9% 0 0$1.14

RBA

12 MONTHS

VACANCY RATE

HISTORICAVERAGE

ASKING RENT

FORECASTAVERAGE

AVAILABILITY RATE

PEAK

NET ABSORPTION SF

WHEN

DELIVERIES SF

TROUGH

UNDERCONSTRUCTION

WHEN

LEASING BLEDSOE STREET

1520

0

Industrial facilities in the East San Fernando Valley arepredominantly scattered between the two main highways,I-5 and I-210, which offer direct routes to bothDowntown L.A. and the Inland Empire, respectively.While the submarket is in close proximity toentertainment, aerospace and logistics industries, manybusinesses here must abide by L.A.'s gross receipts tax,which can be avoided in some neighboring submarkets.The majority of the industrial stock here is aged andconsists of 1 & 2 Star buildings. Total square footageamounts to roughly 5% of total Los Angeles industrialproduct.The tenant base in East San Fernando Valley mainlyconsists of local distributors, with a few regionaldistribution centers housing FedEx, L-3 Ocean Systems,and OnTrac. Abbot/St. Jude Medical, a medical devicemanufacturer, occupies a 300,000 SF industrial buildingand PPG Aerospace, an aerospace parts manufactureralso occupies a 300,000 SF industrial building—both arelocated in Sylmar. Multiple tenants share some of thelargest industrial buildings and industrial parks in thesubmarket.Vacancies have hovered near 1% since 15Q4 with only ahandful of spaces larger than 20,000 SF available as of May 2018. No major move-ins or move-outs haveoccurred over that period and the submarket has mostlybeen left out of the industrial development boomexperienced in the Inland Empire.

LOS ANGELES VACANCY RATE

VACANCY RATE - EAST SAN FERNANDO VALLEY

AVAILABIITY RATE - EAST SAN FERNANDO VALLEY LOS ANGELES

AVAILABIITY RATE - EAST SAN FERNANDO VALLEY LOS ANGELES

DELIVERIES & DEMOLITION

PAST 4 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED

PAST & FUTURE DELIVERIES IN SQUARE FEET

CONSTRUCTION

Construction has been limited this cycle. The lack ofnewer, highly functional logistics product leads somepotential larger tenants and distributors farther east tothe ever-popular Inland Empire market, where land isreadily available and more modern product is available.One of the few industrial developments this cycle is theSun Valley Business Center. Xebec Realty delivered thetwo-building property in 17Q4 with a 264,000 distributioncenter preleased by OnTrac and a 97,000 SF distributioncenter occupied by Home Delivery Link. Xebec Realty isalso developing the only other major project in thesubmarket’s pipeline as of May 2018—a 95,000 SFwarehouse in Pacoima.

ALL-TIME ANNNUAL AVG. SF DELIVERED SF PAST 4 QTRS

33,816 390,838 20,000DELIVERED SF NEXT 4 QTRS PROPOSED SF NEXT 4 QTRS

0

ZONING MAP

BLEDSOE STREET

San Fernando Road

Bledsoe Street

San Fernando Road

Los Angeles Reservoir

BLEDSOE STREETSYLMAR, CA 9134215

200

15200 BLEDSOE

CORPORATE OFFICE

NETHERCUTT MUESEUM

BLEDSOE STREET

BLEDSOE STREET

SAN FERNANDOROAD

SAN FERNANDOROAD

15200 BLEDSOE

STRONG AREADEMOGRAPHICS

Bledsoe StreetSan Fernando Road

San Fernando RoadBledsoe StreetSan Fernando RoadSan Fernando RoadBledsoe StreetBradley AvenueLakeside StreetSan Fernando Road

San FernandoLa Valle Street

Rosales StreetSan Fernando RoadBledsoe StreetRosales StreetSan Fernando RoadOswald StreetEl Dorado AvenueNurmi Street

0.06 SW0.03 SW

0.04 W0.02 SW0.03 NW0.01 NW0.05 NE0.18 SE0.05 NE0.04 NE

4,3802,000

1,5606,60510,49010.2304,2504,2485114,000

20112011

20112011201120172011201720172011

0.060.12

0.140.140.150.170.200.270.470.49

COLLECTION STREET CROSSSTREET

CROSS STREEDIST/DIR

TRAFFIC VOLUME COUNT YEAR DISTANCE FROM SUBJECTPROPERTY

CORPORATE OFFICE

NETHERCUTT MUESEUM

BLEDSOE STREET

BLEDSOE STREET

SAN FERNANDOROAD

SAN FERNANDOROAD

15200 BLEDSOE

SYLMAR, CALIFORNIASylmar is a neighborhood in the San Fernando Valley region of Los Angeles, California. Historically known for its profusion of olive orchards, Sylmar can trace its past to the 18th century and the found-ing of the San Fernando Mission. In 1890 olive production was begun in a systematic manner. The Sylmar climate was also considered healthy, and so a sanitarium was established, the first in a series of hospitals in the neighborhood. There are fourteen public and eight private schools within Sylmar.

San Fernando became a city in 1874, leading to the naming of the unincorporated land surrounding San Fernando as Morningside. In 1893 the area was named Sylmar (supposed to mean “sea of trees”)

Around 2000, some local residents proposed a plan to rename the northwest portion of the district as Rancho Cascades.

Sylmar has been nicknamed “The Top of Los Angeles.

A May 1962 proposal by the city Planning Department for an increase in density was met with disap-proval by residents at a community meeting. The city’s master plan for the area called for much of the agricultural land to be converted to suburban uses, plus zoning that would permit more apartments. There would also be expansion of industrial districts and more shopping centers. The plan proposed that the 4,500 acres then zoned for agriculture be reduced to 2,000, or 17% of the area. City officials said that Sylmar had been the slowest of all San Fernando Valley communities to develop its multiple dwelling areas, with permits issued for only 35 units in 1961 and 70 units in 1962.

Sylmar’s major growth came after the 1963 completion of the interchange between the Golden State and San Diego freeways and the 1981 completion of the 210 and 118 freeways, both of which made the community easier to reach.

In 1971 city planners presented a land-use document that would preserve Sylmar’s image as one of “houses, horses and orchards” and would roll back the then-existing projection from 90,000 resi-dents by 1990 to 53,500. The population actually reached 53,392 in 1986.

A proposal in 1980 to build an 80-unit low-income housing project near Sylmar High School at 13080-90 Dronfield Avenue was rejected by the Los Angeles City Housing Commission after eight thousand signatures were gathered against the plan and protesters filled a hearing in the high school auditorium.

In 1984 Sylmar was still largely rural, but there was an area of industrial development in its south-eastern portion. In 1986, when its population was given 53,392, it still had some of the last large tracts of undeveloped land in the city, and the opening of the Foothill Freeway had placed it within a 45-minute drive of Downtown Los Angeles. Despite the population increase and a rise in the number of people living in condos and apartments, it was still one of the least-crowded areas of the city.[4] Between 1980 and 1990 it was the fastest-growing area in the San Fernando Valley: Its population increased by 30.7% during those ten years in which the Valley itself grew by only 12.2%.

Reopening of the Olive View Medical Center in 1986 was seen as an impetus to population and busi-ness growth, as well as a threat to the horse-owning community. Practically every corner on Foothill Boulevard had been purchased for development, and a 109-room hotel was planned at Roxford Street, a block from the hospital. “We are bound to be concerned any time you start bringing sick people, mentally ill people, indigent people into our community,” said one community activist. “We welcome the hospital, but that doesn’t mean we are going to sit back and let the influx of people change our life style.”

By 2006 Sylmar’s open spaces were being rapidly subdivided. Resident Bart Reed noted that Sylmar was the last place in Los Angeles “where a builder can find a single-family home on half an acre. They can tear them down and build 52 homes” in their place. Longtime residents were concerned that the expansion would threaten their equestrian lifestyle in a community that still retained a largely rural atmosphere with corrals on large lots and horse trails that wound into the nearby San Gabriel Mountains.

STRONG AREADEMOGRAPHICS

2023 Projection2018 Estimate2010 CensusGrowth 2018-2023Growth 2010-20182018 Population Hispanic Origin

2023 Projection2018 Estimate2010 CensusGrowth 2018-2023Growth 2010-2018Owner OccupiedRenter Occupied

<$25,000$25,000-$50,000$50,000-$75,000$75,000-$100,000$100,000-$125,000$125,000-$150,000$150,000-$200,000$200,0000+

WhiteBlackAm. Indian & AlaskanAsiaHawaiian & Pacific IslandOther

21,61821,37921,3791.12%0.00%17,911

5,1425,0945,1470.94%(1.03%)3,5031,591

9651,040861797515371330213

6,0987,4446,8905,5093,8232,8382,6231,656

15,98018,64916,26313,0669,2086,3286,3434,713

18,7925214491,15234431

18 47 56

$80,456$65,874

$83,553$67,863

$83,642$66,144

120,6794,9612,7889,9552733,169

280,76814,9695,85434,5187908,253

144,219141,826137,4671.69%3.17%105,744

37,48736,88235,8451.64%2.89%25,11811,764

349,974345,152339,9261.40%1.54%237,664

91,74890,55089,5621.32%1.10%58,03832,512

RADIUS HOUSEHOLDS

2018 AVG HOUSEHOLD INCOME2018 MED HOUSEHOLD INCOME2018 HOUSEHOLDBY HOUSEHOLD INC:

POPULATION

POPULATION BY RACE

US ARMED FORCES

1 MILE 1 MILE3 MILE 3 MILE5 MILE 5 MILE

15200 BLEDSOE STREET

OFFERING PROCEDURESOFFERS SHOULD BE ADDRESSED TO:

C. 626.484.7975D. 626.574.2302Nborrelli@coldwellbanker.com

Offers should be in the form of a letter of intent (LOI) and at a minimum offers should include the following:

COLDWELL BANKER COMMERCIAL NRTAttn: Nicholas Borrelli15 E. Foothill BoulevardArcadia, CA 91006

1. Price2. Earnest Money Deposit3. Due Diligence Time Period4. Closing Period5. Any other substantial business points the buyer wants the seller

to know6. Number of Facilities Operating Experience7. Final Round Buyer to Consultant8. Source of Funds9. The seller also reserves the unrestricted right to reject an or all

offers.

OFFERING PROCEDURES

NICHOLAS BORRELLICOLDWELL BANKER COMMERCIAL NRT

C. 626.484.7975D. 626.574.2302nborrelli@coldwellbanker.comCalRE# 01481673

PRESENTED BY

15200 BLEDSOE STREET

SYLMAR CALIFORNIA