1441 Montiel Road, Escondido

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EXECUTIVE SUMMARY Cushman &Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire 1441 Montiel, (the “Project”) a highly desirable multi-tenant industrial project located in the Escondido submarket of San Diego County. Totaling approximately 49,990 square feet, 1441 Montiel was thoughtfully designed and developed in 2002 to accommodate the expanding base of industrial tenants that thrive throughout the inland area of North San Diego County. The Project is located in one of San Diego’s highest occupied industrial markets and provides expedient access to Interstate 15, Highway 78, a wide variety of amenities and a significant concentration of residential housing units, which results in one of North San Diego County’s most coveted business locations. 1441 Montiel is 86% leased to three (3) tenants, with varied lease expirations, and one (1) vacancy. Suite sizes range between 7,182 square feet and 17,406 square feet, which range from 14.4% to 34.8% of the Project’s total square footage. The vacancy represents 14% of the project with in place rents approximately 9.3% below current market rents in a market with 2.2% vacancy. As a result of these dynamics, 1441 Montiel provides the investor secure in-place cash flow, with insulation from market and rent roll fluctuations, while allowing the unique opportunity for near term upside.

The Project was developed as a two (2) building, high bay, multi-tenant industrial park. The North Coast Church purchased the adjacent building in 2015, which it occupies and conducts services after normal business hours. There is a reciprocal access and parking agreement, which allows parking to the benefit of 1441 Montiel during normal business hours.

1441 MONTIEL ROAD, ESCONDIDO

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