1441 Montiel Road, Escondido

FINANCIAL ANALYSIS

IN-PLACE LEASE EXPIRATION SCHEDULE

1441 Montiel OM

In-Place Lease Expiration Detail

Fiscal Year

Percentage Cumulative

Percentage

Ending Number of of Total April 30 Spaces Square Feet Square Feet Square Feet Square Feet FYE 2020 0 0 0.0% 0 0.0% FYE 2021 0 0 0.0% 0 0.0% FYE 2022 1 12,962 25.9% 12,962 25.9% FYE 2023 1 12,440 24.9% 25,402 50.8% FYE 2024 0 0 0.0% 25,402 50.8% FYE 2025 0 0 0.0% 25,402 50.8% FYE 2026 1 17,406 34.8% 42,808 85.6% FYE 2027 0 0 0.0% 42,808 85.6% FYE 2028 0 0 0.0% 42,808 85.6% FYE 2029 0 0 0.0% 42,808 85.6% FYE 2030 0 0 0.0% 42,808 85.6% FYE 2031 0 0 0.0% 42,808 85.6% Beyond 0 0 0.0% 42,808 85.6% In-Place 3 42,808 85.6% Vacant 1 7,182 14.4% Total 4 49,990 100.0% Expiring of Total Expiring

10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000

SQUARE FEET

0 5,000

FYE 2020

1441 Montiel OM

Analysis Date: 2/6/2019

In-Place Lease Expiration Schedule

In-Place Lease Expiration Detail

In-Place Lease Expiration Graph

Fiscal Year

Percentage Cumulative

Percentage

(WeightedAvg. Lease Term Remaining = 4.51 YRS)

Ending Number of of Total April 30 Spaces Square Feet Square Feet Square Feet Square Feet FYE 2020 0 0 0.0% 0 0.0% FYE 2021 0 0 0.0% 0 0.0% FYE 2022 1 12,962 25.9% 12,962 25.9% FYE 2023 1 12,440 24.9% 25,402 50.8% FYE 2024 0 0 0.0% 25,402 50.8% FYE 2025 0 0 0.0% 25,402 50.8% FYE 2026 1 17,406 34.8% 42,808 85.6% FYE 2027 0 0 0.0% 42,808 85.6% FYE 2028 0 0 0.0% 42,808 85.6% FYE 2029 0 0 0.0% 42,808 85.6% FYE 2030 0 0 0.0% 42,808 85.6% FYE 2031 0 0 0.0% 42,808 85.6% Beyond 0 0 0.0% 42,808 85.6% In-Place 3 42,808 85.6% Vacant 1 7,182 14.4% Total 4 49,990 100.0% Expiring of Total Expiring

10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0%

PERCENTAGE

SQUARE FEET

0 5,000

FYE 2020

FYE 2021

FYE 2022

FYE 2023

FYE 2024

FYE 2025

FYE 2026

FYE 2027

Annual In-Place Lease Expirations

Cumulative In-Place Lease Expiration %

OFFERING MEMORANDUM

57