O F F E R I N G S U M M A RY

Holliday GP Corp. (“HFF”), a California licensed real estate broker, California License #01385740

T H E O P P O RT U N I T YHFF, as exclusive advisor, is pleased to present the opportunity to acquire Rio 9095 (hereinafter, the “Property”), a best-in-submarket class A office building prominently located in Mission Valley, one of San Diego’s most densely-populated, amenity- and transit-oriented, mixed-use submarkets. Ideally situated within Mission Valley’s central core, the Property is within walking distance of two trolley stations, nearly 1 million square feet of retail amenities, and over 3,000 multi-housing units, soon to increase to 7,000+ units with the delivery of the nearby master-planned Civita development.

Encompassing 81,799 rentable square feet (BOMA) in four stories and currently 95.6% leased, Rio 9095 offers the ideal combination of stable in-place cash flow and near-term value enhancement potential. Featuring a balanced rollover schedule and diversified rent roll with no single tenant occupying more than 15% of the NRA, the Property’s income stream is generated by a high quality tenant roster that includes national, international, and investment-grade tenancy (61.7% of the NRA). Moreover, with an overall weighted average remaining lease term of 4.0 years and in-place rents that are 12.5% below market, Rio 9095 presents an excellent mark-to-market and yield-enhancement opportunity.

Rio 9095 features extremely attractive physical elements including steel-frame construction, continuous window line, 14’ slab-to-slab heights, highly functional floor plates, and a generous 5.1:1,000 USF parking ratio. The exceptional quality of the Property combined with it’s ideal location in Mission Valley, which is in the midst of an unparalleled urbanization, make Rio 9095 the premier opportunity to acquire an institutionally owned and maintained class A office building significantly below replacement cost in a market that is poised for continued growth.

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BY T H E N U M B E R S

81,799 net rentable area (BOMA remeasurement)

95.6% leased

61.7% national presence / credit tenancy

5.1:1,000 usf parking ratio

5.54 acre*land area

365 parking spaces

±20,000 sf average floor plate

*2.71 acres owned with Building and parking lot atop and 2.83 acres leasehold with parking lot atop

81,236 net rentable area (as-leased)

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I N V E ST M E N T H I G H L I G H TSD U R A B L E I N - P L A C E I N C O M E S T R E A M W I T H V A L U E G R O W T H P O T E N T I A L

Rio 9095 is 95.6% leased to a diverse tenant roster consisting of 13 unique tenants spanning across multiple industries and no tenant occupying more than 15% of the Property. With a balanced rollover schedule and national/credit tenancy (61.7% of the NRA), an investor is provided a dependable income stream while also capitalizing on near-term lease expirations at below market rents. Average in-place rents are 12.5% below market with 59.7% of the NRA expiring over the next five years, providing investors a mark-to-market rent opportunity to further grow NOI while the long term, stable tenants ensure a durable cash flow stream. • 95.6% leased with a balanced rollover schedule resulting in yield

stability • 61.7% National Presence/Credit Tenancy • Diverse tenant roster consisting of 13 unique tenants spanning

multiple industries.

REN

T (P

SF/M

OS) RSF EXPIRIN

G

11.8% 15.8% 14.9% 17.0%

21.1%

4.1%

11.0%$3.09

$3.03 $3.23 $3.33 $3.41 $3.54 $3.59$3.44 $3.59 $3.83 $3.87 $3.99 $4.11 $4.32

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

$0.00$0.50$1.00$1.50$2.00$2.50$3.00$3.50$4.00$4.50$5.00

% RSF Expiring Base Rent Upon Expiration Market Rent

G R O S S B A S E R E N T ( U P O N E X P I R A T I O N ) V S . M A R K E T R E N T

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D E S I R A B L E C L A S S A O F F I C E A S S E T

Constructed in 2005, Rio 9095 features a high-image exterior architecture, steel frame construction, continuous window line, 14’ slab-to-slab, 9’-10’ clear heights, and abundant 5.1:1,000 USF parking. Moreover, the multi-tenant design and highly functional floor plates allow for a multitude of options to meet various tenant sizes and layout requirements. The Property is widely considered to be a top tier Class A office asset in the Mission Valley Submarket.• 14’ slab-to-slab• 9’-10’ ceiling heights• 5.1:1,000 SF parking; highest parking ratio in Mission Valley• Top tier asset within the Mission Valley Class A competitive set

A T T R A C T I V E B A S I S B E L O W R E P L A C E M E N T C O S T

The Property provides investors the opportunity to acquire an institutional quality asset in an irreplaceable location significantly below replacement cost, which is estimated to be over $500 PSF.

D I V E R S I F I E D T E N A N T R O S T E R

1 2 % E N G I N E E R I N G S E R V I C E S

9 % B A N K I N G

1 7 % R E A L E S T A T E

S E R V I C E S

1 3 % C A P I T A L

M A R K E T S

1 3 . 8 % T E C H N O L O G Y

T E C H N O L O G Y F I N A N C I A L S E R V I C E S O T H E R I N S U R A N C E G O V E R N M E N T L E G A L

2 2 . 8 % F I N A N C I A L S E R V I C E S

1 4 . 4 % O T H E R

1 4 . 5 % I N S U R A N C E

1 5 . 1 % G O V E R N M E N T

1 4 . 9 % L E G A L

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QUALCOMM REDEVELOPMENT

B O U R G E O N I N G U R B A N S U B M A R K E T

Rio 9095 is located in one of San Diego’s most central and accessible business centers between Downtown San Diego and San Diego’s coastal communities. Mission Valley is experiencing robust urbanization with over 10 new developments/re-developments currently under construction, planned or proposed. New residential construction is reaching a historic high in the Mission Valley submarket, and Rio 9095 shares close proximity to approximately 10,700 residential units. The Property is near 6M SF of retail, over 200 restaurants, 3 bus stops, and 2 trolley stops.

T R A N S I T & A M E N I T Y - O R I E N T E D I N F I L L L O C A T I O N

• Located within walking distance of two retail power centers with abundant dining and shopping amenities (8-minute walk to the Rio Vista Shopping center and an 11-minute walk to Fenton Marketplace)

• 10-minute walk to two trolley stations• 12-minute walk to Civita (4,000+ housing

units at completion as well as numerous other apartment and condominium communities)

• Within an 8-min walk to 3 seperate MTS bus stops

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FENTON MARKETPLACE

Over 590,000 sf of retail amenities

805

8

FRIA

RS R

D

QUALCOMM WAY

PROMENADE AT RIO VISTA APARTMENTS

970 Units

CA

MIN

O D

LE

RIO

N

LIGHT RAIL

CIVITA DEVELOPMENT400,000 SF office space

480,000 SF retail600 single family homes3,900 apartments units

SAN DIEGO

MARRIOTT

RIO VISTA SHOPPING CENTER 251,000 sf of

retail amenities

BUS STOP

BUS STOP

BUS STOPBUS STOP

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SAN DIEGO INTERNATIONAL

AIRPORT MISSION BAY

WESTFIELD MISSION VALLEY1.6 million sf retail

HILLCREST

CIVITA DEVELOPMENT400,000 SF office space

480,000 SF retail600 single family homes3,900 apartments units

UNIVERSITY OF SAN DIEGO

805

URBANIZATION OF MISSION VALLEY

New residential construction is reaching a historic high in the Mission Valley submarket. There are over 7,700 units existing in Mission Valley, 762 units have been completed since 2015 and currently over 10 new developments currently under construction, planned or proposed. The increasing residential density will support additional office demand, thus driving higher occupancy and bolstered rent growth.

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SAN DIEGO UNION TRIBUNE CAMPUSREDEVELOPMENT

CORONADO

LIG

HT R

AIL

SCRIPPS MERCY HOSPITAL

TOWN & COUNTRY RESORT /

CONVENTION CENTER REDEVELOPMENT

FASHION VALLEY1.8 million sf retail

RIVERWALK REDEVELOPMENT

RIO VISTA SHOPPING

CENTER 251,000 sf of

retail amenities

RIO VISTA TROLLEY STATION

MISSION VALLEY CENTER

STATION

HAZARD CENTER STATION

HAZARD CENTER PROJECT

CAMINO DEL RIO N

DOWNTOWN SAN DIEGO

PACIFIC OCEAN

163

LIGHT RAIL TO DOWNTOWN

RIO SAN DIEGO RD

FENTON MARKETPLACEOver 590,000 sf

of retail amenities

FRIARS RD

UNDER CONSTRUCTION

Mission Valley Suites Hotel (236 keys)Millennium Mission Valley (291 apartments units | 5,000 sf office | 4,000 sf retail)SDUT Campus Redevelopment (330,000 sf office)Civita Development (400,000 sf office | 480,000 sf retail | 3,900 apartment units)

PLANNED

Riverwalk Redevelopment (2,500 apartment units | office | hotels)Hazard Center Project (473 total residences)Town & Country Resort & Convention Ctr (renovated hotel | 900 apartments units)

PROPOSED

Qualcomm Stadium Redevelopment (mixed-use) 4835 Glasoe Lane (retail & office)

RETAIL AMENITY

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M A J O R P R O J EC TS D R I V I N G T H E E VO LU T I O N O F M I S S I O N VA L L E Y

C I V I T A M A S T E R P L A N N E D D E V E L O P M E N T

Developer Sudberry Properties

Site Area 230 acres

No. of Projects 15 (residential & commercial)

Estimated Cost $2+ Billion

Initial Start Date 2010

Expected Completion 2020-2025

• 4,870 residential units (single family homes, condos, apartments, and affordable housing)

• 480,000 SF retail center• 420,000 SF for a potential office/business campus• Public Parks • Civic Center with amphitheater • Recreation Center • Accommodating nearly 15,000 new residents, nearly doubling the current

population

R I V E R W A L K G O L F C L U B D E V E L O P M E N T

Developer Hines & Levi-Cushman Family

Site Area 200 acres

Estimated Cost TBD

Initial Start Date TBD

Expected Completion TBD

• Ideas being considered include 4,000 residential units and 1 million SF office buildings, 100k SF retail space and a 75-acre park

• Initial plan includes building a new trolley stop in the development• Ultimate plan is now in the works and will need approval by the City

Council

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Q U A L C O M M S T A D I U M S I T E

Developer TBD

Site Area 166 acres

Expected Start / Completion TBD

P R O P O S A L 1 : M I X E D U S E U N I V E R S I T Y S I T E

• Development Team: JMI Realty, SDSU and UCSD

• Replacing the stadium with student/faculty housing and research/academic space

• 35,000 seat stadium • Potential hotel & commercial

space

P R O P O S A L 2 : M A J O R L E A G U E S O C C E R S T A D I U M ( S O C C E R C I T Y )

• Developer: FS Investors • $200M soccer stadium part of a

total $1B redevelopment • Stadium facility containing

20,000 to 30,000 seats • Projected to open 2020• Home to a MLS team as well as

SDSU football and soccer • 4,800 homes, 55 acres of parks• 3 million SF of commercial

U N I O N T R I B U N E P R O J E C T A M P & R S A N D

Developer Casey Brown Company

Site Area 13 acres

Estimated Cost $35 Million

Initial Start Date 2016

Start Date 2017

Expected Completion 2019

• Two building, 330,000 SF office campus • Estimated asking rents in the high $3.00 +E range • Industrial loft-style feel, exposed brick, concrete-pillars,

13-foot ceilings and oversized windows• 64,000 SF of outdoor collaborative space • On-site amphitheater • Abundance of on-site amenities: fitness studio, spa-like lockers, café,

valet, bike center

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M I S S I O N V A L L E Y ’ S M O S T W A L K A B L E , A M E N I T Y - R I C H L O C A T I O N

Rio 9095 benefits from a strong array of local amenities including walkable access to Rio Vista Shopping Center and Fenton Marketplace which include retail and service amenities. The Property also includes walkable access to two different trolley stations, three different bus stops and routes to nearby Westfield Mission Valley and Fashion Valley shopping centers.

2 3 3 , 9 3 1 F U L L T I M E

P O P U L A T I O N

1 6 3 , 8 4 8 D A Y T I M E

P O P U L A T I O N

8 . 8 4 % P O P U L A T I O N G R O W T H S I N C E

2 0 1 0

3 M

ILE

RA

DIU

S

M I S S I O N V A L L E Y S N A P S H O T

1 0 . 7 K R E S I D E N T I A L

U N I T S

D R I V E T I M E S T O / F R O M R E S I D E N T I A L N O D E S

DOWNTOWN NORTH BEACH CITIES

CARMEL VALLEY RANCHO SANTA FE15 CORRIDOR

10 minutes 21 minutes16 minutes 26 minutes20 minutes

EAST COUNTY

13 minutes

6 M S F R E T A I L

7 K H O T E L R O O M S

2 0 0R E S T A U R A N T S

1 2 T R O L L E Y S T O P S

P O P U L A T I O N I S E X P E C T E D T O G R O W B Y 5 %

O V E R T H E N E X T 5 Y E A R S !

8 CAMINO DEL RIO N

CAMINO DEL RIO S

10

8

QUALCOMM WAY RIVER COLONY, 300 CONDOS

CAMINO DE LA REINA

CAMINO DEL ESTE

FRIARS RD

163

163

CIRCA37, 306 APTS

WEST PARK, 612 APTS VERSA AT CIVITA, 150 APTS

AQUATERA, 254 APTS

WESTFIELD MISSION VALLEY1.6 million sf retail with 131 stores &

services

FOOD COURT28 RESTAURANT

OPTIONS

HOME

MISSION WALK, 56 CONDOS

THE PROMENADE, 970 APTS

LUCENT I, 30 APTS

THE LIDO, 220 APTS

PARK VILLAS SOUTH, 250 CONDOS

PARK VILLAS NORTH, 296 CONDOS

MISSIONS AT RIO VISTA, 464 CONDOS

SAN DIEGO RIVER

HAZARD CENTER

RIVER FRONT CONDOS

805

LIGH

T RA

IL

RIO VISTA TROLLEY STATION

MISSION VALLEY CENTER STATION

HAZARD CENTER STATION

FASHION VALLEY1.8 MILLION SF RETAIL

CIVITA DEVELOPMENT400,000 SF office space

480,000 SF retail600 single family homes3,900 apartments units

RIO SAN DIEGO RD

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4350 La Jolla Village Drive | Ste. 450San Diego, CA 92122 | hfflp.com 858.552.7690 858.552.7695

© 2018 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are pro-jections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

N I C K P SY L LO SSenior Managing Directornpyllos@hfflp.com858.812.2352CA. License #00788060

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