8191_E_Kaiser_Blvd_BOV

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B R O K E R ’ S O P I N I O N O F VA L U E

8191 E. KAISER BLVD. A N A H E I M , C A 9 2 8 0 8

PREPARED FOR: JOHN TALLICHET SPECIALTY RESTAURANT CORP.

Table of Contents

1. Property Overview 2. Orange County Market Report 3. Sale Comp Reports 4. Available Office Building for Sale 5. Available Office Buildings for Lease 6. Methodology, Valuation & Fees 7. Team Overview

Cushman & WakefieldCopyright 2015. No warranty or representation,expressor implied, is made to the accuracy or completenessof the information contained herein, and same is submittedsubject to errors,omissions,change of price, rental or other conditions,withdrawal without notice, and to any special listing conditions imposedby the propertyowner(s). As applicable, we make no representationas to the condition of the property(or properties) in question.

PROPERTY OVERVIEW 1.

Property Overview

BASIC PROPERTY FEATURES

_______________ BUILDING SIZE +/-: 22,102 SF _______________ STORIES: 2 _______________ YEAR BUILT: 1999 _______________ VESTING: Specialty Restaurants Corp.

_______________ LOT SIZE: 1.17 AC _______________ PARKING: 3.50:1,000 _______________ APN: 354-051-25 _______________ ZONING: O - L

Property Overview

8191 E Kaiser Blvd Anaheim, CA

Property Overview

PARCEL MAP (APN 354-051-25)

8191 E Kaiser Blvd Anaheim, CA

Property Overview

CURRENT SITE PLAN

Property Overview

FLOOR PLAN

1 st Floor

2 nd Floor

Property Overview

PARCEL INFO

Property Overview

PROPERTY TAX

Property Overview

ZONING / CURRENT ENTITLEMENTS

Low Intensity Office (O-L) : This category The intent of the “O-L” Zone is to provide for a variety of low-intensity office uses that are typically three (3) stories or less, including local branches of financial institutions, legal services, insurance services, real estate, consulting services, professional offices, and medical or dental offices and support services. This zone implements the Office-Low land use designation in the General Plan

8191 E Kaiser Blvd Anaheim, CA

2. ORANGE COUNTY MARKET REPORT

Central County Q4 2018OFFICE REPORT MARKETBEAT

Historical Leasing Activity

Historical Trend

Overall Rental Rate

Overall Vacancy Rate

2.0

$0.00 $0.50 $1.00 $1.50 $2.00 $2.50

10.0% 15.0% 20.0% 25.0%

1.5

1.0

MSF

0.5

0.0% 5.0%

0.0

1.7

1.9

1.3

1.8

1.4

$1.62

$1.67

$1.70

$1.85

$2.02

$2.38

1.2

2013 2014 2015 2016 2017 2018

KEY LEASE TRANSACTIONS Q4 2018 Address

Tenant

Type

Leased SF

Submarket

1325 Anaheim Boulevard

Altamed

New Direct

90,533

Anaheim

999 Town & Country Road

AECOM

Renewal

73,908

Orange

15101 Red Hill Avenue

Best Choice Products

New Direct

51,065

Tustin

1500 Douglass Road

Anaheim Arena Management

Sublease

31,938

Stadium Area

Direct Asking Rental Rate (ClassA)*

Overall Asking Rental Rate (All Classes)*

Total Buildings

Overall Vacant SF

Overall Vacancy Rate

YTD Overall Net Absorption (SF)

YTD Leasing Activity(SF)

Market

Inventory (SF)

2,820,093

340,846

12.1% -70,721

144,242

$2.75

$2.26

Parkcenter Area

3,617,010 2,277,180

60 14

284,339 278,831

7.9% -24,422 12.2% -79,498

139,767

$2.73 $2.82

$2.52 $2.80

StadiumArea The City Area

89,626

2,262,734

270,721

12.0% -19,226

50,596

$2.81

$2.58

Main Place Area

783,575

145,823

18.6% -64,815

160,616

N/A

$2.75

Tustin (South of I-5)

3,223,816

423,709

13.1% 217,898

175,827

N/A

$2.27

Santa Ana

2,978,550

289,181

9.7% 29,961

343,796

$2.57

$2.48

North/East Anaheim

427,246

20,321

4.8% -7,745

2,269

N/A

$2.21

East Orange

2,032,872

260,023

12.8% 29,340

55,897

$1.95

$1.76

Civic Center Area

CENTRAL COUNTY 20,423,076

284 2,313,794

11.3% 10,772

1,162,636

$2.70

$2.38

*Rental rates reflect gross asking $psf/month

MARKETBEAT

Orange County Office Q4 2018

Economy Over the past year, Orange County has added 7,700 jobs for an increase of 0.4%. As of November, the Orange County unemployment rate has decreased to 2.9%. This compares with unemployment rates of 3.9% for California and 3.7% for the Nation during the same period. Industries reporting the largest gains in 2018 were professional and business services adding 7,100 jobs. Government reported the largest year-over-year decline losing 5,600 jobs. Market Overview Countywide, overall asking rents increased to $2.97 per square foot per month (psf/mo), a $0.32 increase year-over-year or 12.1%. The addition of 1.4 million square feet (msf) of new class A office buildings have helped push rents in Orange County in 2018. Irvine Spectrum remains the highest grossing submarket countywide at $3.73 psf/mo. Over the past two years, Irvine Spectrum overall rents have risen nearly 38%. This trend will continue in Irvine Spectrum as more development is in the pipeline. The second most expensive submarket is Newport Beach with overall rates at $3.39 psf/mo. Overall vacancy finished at 11.5% for 2018, an increase of 40 basis points (bps) year-over-year. This increase is largely due to a number of newly completed office buildings which haven’t filled available space with new tenants, rather than tenants leaving the market. The Orange County office market ended the year with a flurry of large leasing transactions which helped overall market fundamentals entering the new year. Renewals continue to dominate large leasing activity with two of the top three leasing transactions of the fourth quarter by SkyWorks and Taco Bell. Gross leasing activity, which includes renewals, totaled 8.2 million square feet (msf) to finish 2018, a 7% decrease year-over-year. With over 1.9 msf of renewal activity in 2018, Orange County’s renewal activity increased nearly 18% year-over-year. This increase can be contributed to the higher costs of relocation and increasing rents from new product. The Greater Airport Area (GAA) had the highest amount of activity with 3.4 msf representing 54% of all new leasing activity in Orange County. Sales activity saw a healthy increase in the fourth quarter with 2.0 msf trading to investors making it the best quarter of 2018. Total investor sale activity for 2018 ended with 6.8 msf, a 2% decrease year-over-year. The largest sale of the fourth quarter came from the purchase of One Pacific Plaza in Huntington Beach by Ares Management consisting of three office properties totaling 384,303 sf. Orange County ended the year posting 296,587 sf of positive net absorption with four of the five submarkets posting positive absorption. The largest move-ins of the fourth quarter came from The State of California in Santa Ana and GSA in Tustin. South County led the market with 770,725 sf of positive absorption in 2018 with major move-ins from Broadcom, Cylance and Metagenics. South County’s occupancy gains were offset by the negative -644,422 sf in the Greater Airport Area and many large move-ins that have delayed occupying space in newly constructed buildings across the market. Over 1.1 msf of new construction is expected to complete in 2019. Irvine Spectrum will see 640k sf of new product from three new buildings at Spectrum Terrance and three buildings at Discovery Park. The Flight @ Tustin Legacy is expected to complete in early 2019 and deliver 417k sf of new creative workspace to the Greater Airport Area market. Outlook Orange County overall asking rates rose almost 26.9% over the past two years. Expect rent growth to slow down from this pace as existing landlords compete against newly constructed buildings. Absorption is projected to regain momentum in 2019 with multiple tenants occupying new space in the first half of 2019.

ORANGE COUNTY OFFICE

Economic Indicators

12-Month Forecast

Q4 17

Q4 18

Orange County Employment

1.63M

1.64M

Orange County Unemployment*

3.3%

2.9%

U.S. Unemployment*

4.1%

3.7%

*Average of first two months of Q4 2018

Market Indicators (Overall, All Classes)

12-Month Forecast

Q4 17

Q4 18

Vacancy

11.1% 11.5%

YTD Net Absorption (sf)

1.1M

297K

Under Construction (sf)

1.5M

1.1M

Average Asking Rent ¥

$2.65

$2.97

¥-Rental rates reflect gross asking $psf/month

Overall Net Absorption/Overall Asking Rent 4-QTR TRAILING AVERAGE

0 100 200 300 400 500 600 700 2011 2012 2013 2014 2015 2016 2017 2018

$0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50

Net Absorption, SF (thousands)

Asking Rent, $ PSF

Overall Vacancy

25%

20%

15%

Historical Average = 13.6%

10%

2011 2012 2013 2014 2015 2016 2017 2018

cushmanwakefield.com I 1

MARKETBEAT

Orange County

Office Q4 2018

YTD DIRECT NET ABSORPTION (SF)

YTD OVERALL NET ABSORPTION (SF)

**YTD LEASING ACTIVITY (SF)

OVERALL AVERAGE ASKING RENT (ALL CLASSES)*

DIRECT AVERAGE ASKING RENT (CLASS A)*

SUBLET VACANT (SF)

DIRECT VACANT (SF)

OVERALL VACANCY RATE

INVENTORY (SF)

UNDER CNSTR (SF)

SUBMARKET

281,186

93,536 398,176

$2.64

$2.83

South Santa Ana

1,936,514 34,269

16.3% 62,240

868,612

$3.27

$3.50

Costa Mesa

5,464,005 87,607

17.5% -207,989 -164,174 726,759

630,979

-49,835 427,722

$3.39

$3.43

Newport Beach

8,020,306 36,956

8.3% -30,937

$3.27

$3.44

Irvine

23,508,915 86,918 3,230,667

14.1% -495,631 -523,949 1,870,189

$3.24

$3.41

GREATER AIRPORT AREA/CBD 38,929,740 245,750 5,011,444

13.5% -672,317 -644,422 3,422,846

$3.73

$3.83

Irvine Spectrum

10,044,357 83,527 1,172,760

12.5% 883,368 815,368 595,648 639,183

126,683

30,146 112,327

$2.35

$2.50

Lake Forest/R.S. Margarita

2,634,428 1,500

4.9% 29,146

373,975

-55,595 362,398

$3.08

$3.27

Laguna Hills/Aliso Viejo

4,296,977 16,908

9.1% -41,464

41,203

-26,120

33,453

$2.74

$3.15

Laguna Niguel/Laguna Beach

574,657

7.2% -26,120

94,471

23,942

80,553

$2.62

$2.87

Mission Viejo

1,289,140 1,000

7.4% 20,739

41,158

-17,016

20,936

$2.55

N/A

S.J. Cap/S. Clemente/Dana Point

1,274,048

3.2% -17,016

$3.27

$3.59

SOUTH COUNTY

20,113,607 102,935 1,850,250

9.7% 848,653 770,725 1,205,315 639,183

27,519

-17,204

7,327

$3.22

$3.25

Seal Beach

310,241 3,611

10.0% -13,593

9,820

57,514

55,222

$2.25

N/A

Westminster

262,284

3.7% 57,514

96,764

2,540

71,608

$2.54

$2.45

Huntington Beach

1,303,980

7.4% -4,318

4,603

-3,014

52,337

$1.65

N/A

Fountain Valley

320,225

1.4% -3,014

25,835

-16,975

22,856

$1.94

N/A

Garden Grove

541,785 3,126

5.3% -13,849

159,453

5,304

18,630

$2.46

N/A

Los Alamitos/Stanton

435,342

36.6% 5,304

127,581

51,289

65,398

$2.17

N/A

Cypress

1,212,927

10.5% 44,246

451,575

79,454 293,378

$2.45

$2.77

WEST COUNTY

4,386,784 3,611

10.4% 72,290

340,846

-70,721 144,242

$2.26

$2.75

Parkcenter Area

2,820,093

12.1% -76,739

245,384

-24,422 139,767

$2.52

$2.74

Stadium Area

3,617,010 38,955

7.9% 7,750

278,831

-79,498

89,626

$2.80

$2.82

The City Area

2,277,180

12.2% -79,498

270,721

-19,226

50,596

$2.58

$2.81

Main Place Area

2,262,734

12.0% -38,218

145,823

-64,815 160,616 417,000

$2.75

N/A

Tustin (South of I-5)

783,575

18.6% -64,815

423,709

$2.27

N/A

Santa Ana

3,223,816

13.1% 217,898 217,898 175,827

289,181

29,961 343,796

$2.48

$2.57

North/East Anaheim

2,978,550

9.7% 9,961

20,321

-7,745

2,269

$2.21

N/A

East Orange

427,246

4.8% -7,745

254,823

29,340

55,897

$1.76

$1.95

Civic Center Area

2,032,872 5,200

12.8% 29,340

10,772 1,162,636 417,000

$2.38

$2.70

CENTRAL COUNTY

20,423,076 44,155 2,269,639

11.3% -2,066

10,581

1,503

10,562

$1.93

N/A

Fullerton

1,283,776

0.8% 1,503

145,756

35,711 134,898

$2.28

$2.59

Brea/La Habra

3,920,786 59,332

5.2% 37,261

6,603

4,262

17,159

$1.90

N/A

Placentia/Yorba Linda

270,646

2.4% 4,262

172,700

38,582

76,070

$2.41

$3.00

Buena Park/La Palma

1,172,333 7,227

15.3% 38,582

335,640

80,058 238,689

$2.32

$2.76

NORTH COUNTY

6,647,541 66,559

6.1% 81,608

$2.97

$3.34

O.C. MARKET TOTALS

90,500,748 466,136 9,918,548

11.5% 328,168 296,587 6,322,864 1,056,183

*Rental rates reflect gross asking $psf/month**Does not include Renewals

YTD DIRECT NET ABSORPTION (SF)

YTD OVERALL NET ABSORPTION (SF)

YTD LEASING ACTIVITY (SF)

OVERALL AVERAGE ASKING RENT*

DIRECT AVERAGE ASKING RENT*

SUBLET VACANT (SF)

DIRECT VACANT (SF)

OVERALL VACANCY RATE

INVENTORY (SF)

UNDER CNSTR (SF)

CLASS

670,953 610,416 3,096,392

Class A

41,781,418 363,549 5,921,313 15.0%

1,056,183

$3.29

$3.34

-342,831 -312,155 3,162,998

Class B

46,662,883 100,867 3,947,786 8.7%

$2.52

$2.53

-1,674

63,474

Class C

2,056,447

1,720 49,449 2.5%

$1.86

$1.83

cushmanwakefield.com I 2

ΩΩ

MARKETBEAT

Orange County

Office Q4 2018

Key Lease Transactions Q4 2018

PROPERTY

TENANT

TRANSACTION TYPE SUBMARKET

Renewal/Expansion*

SkyWorks

217,780

5211, 5221 & 5260 California Ave

Irvine

Taco Bell

Renewal*

181,482

1 Glen Bell Way

Irvine Spectrum

New Lease

Glaukos

165,028

26600 – 26700 Aliso Viejo Pkwy

Aliso Viejo

Sublease

AltaMed

90,533

1325 N Anaheim Blvd

Anaheim

AECOM

Renewal*

73,908

999 Town & Country Rd

Orange

Edwards Life Sciences

New Lease

62,216

535 Anton Blvd

Costa Mesa

MACOM

Renewal*

57,412

4000 MacArthur Blvd

Newport Beach

Best Choice Products

New Lease

51,065

15101 Red Hill Ave

Tustin

*Renewal – not included in Leasing Activity Statistics

Key Sales Transactions Q4 2018

PROPERTY

SELLER / BUYER

PRICE / $PSF

SUBMARKET

Prudential Financial / Ares Management LP

7711 Center Ave / One Pacific Plaza

384,303

$124,500,000/ $324

Huntington Beach

1400 – 1600 Douglas Rd / Arena Corporate Center

Arena Corporate Management / Miramar Ventures Partners

383,250

$125,500,000 / $327

Anaheim

AXIS Anaheim

301,292 The Seligman Group / Goldman Sachs $83,100,000 / $276

Anaheim

3333 – 3337 Susan St / The Hive

189,989

SteelWave / Invesco

$84,000,000 / $457

Costa Mesa

2300 Main St / Main Corporate Center

133,745

Hines / GLL Real Estate Partners

$46,600,000 / $348

Irvine

7000 – 7001 Village Dr / The Village Business Park

Westcore Properties / Stanton Road Capital LLC

118,840

$22,330,000 / $158

Buena Park

cushmanwakefield.com I 3

MARKETBEAT

Orange County Office Q4 2018

Explanation of Terms

Total Inventory : The total amount of office space (in buildings of a predetermined size by market) that can be rented by a third party.

Overall Vacancy Rate : The amount of unoccupied space (new, relet, and sublet) expressed as a percentage of total inventory.

Direct Vacancy Rate : The amount of unoccupied space available directly through the landlord (excludes sublease space).

Absorption : The net change in occupied space between two points in time. (Total occupied space in the present quarter minus total occupied space from the previous quarter, quoted on a net, not gross, basis.)

Leasing Activity : The sum of all leases over a period of time. This includes pre-leasing activity as well as expansions. It does not include renewals.

Under Construction: Industrial and office square footage that are being built and have not received certificates of occupancy (C of O). Projects which are beyond site preparation (concrete slab poured and construction is actively progressing). For C&W statistical purposes, these buildings will not be complete by the last day of the reporting quarter.

Under renovation : Office and industrial buildings that are undergoing renovation, rehabilitation or conversion and require a certificate of occupancy to be habitable.

Overall Weighted Asking Rents : Gross average asking rents weighted by the amount of available direct and sublease space in Class A, B and C properties.

Class A Asking Rents : Gross average asking rents weighted by the amount of available Class A direct and sublease space.

Cushman & Wakefield 18111 Von Karman Suite 1000 Irvine, CA 92614 cushmanwakefield.com

For more information, contact: Eric A. Kenas, Market Director Tel: +1 213 955 6446 eric.kenas@cushwake.com

About Cushman & Wakefield Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow@CushWake on Twitter. ©2019 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources believed to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.

Mark Williams, Research Analyst Tel: +1 949 930 9237 mark.j.williams@cushwake.com

cushmanwakefield.com I 4

SALE COMP REPORTS 3.

Sale Comp Report

Year Built

# Photo

Address

Sale Date Price/SF Sale Price Size SF

2650 E Imperial Hwy Brea, CA

10/29/2018 $230

$6,820,000 29,641

1979

1927 N Glassell St Orange, CA

2/15/2019

$239

$6,030,000 25,200

1970

600-660 S Placentia Ave Placentia, CA

5/4/2018

$279

$5,873,071 21,021

1987

Sale Comp Report

# Photo

Address

Sale Date Price/SF Sale Price Size SF Year Built

8195 E Kaiser Blvd Anaheim, CA

4/20/2018

$295

$5,850,250 19,863

1999

8185 E Kaiser Blvd Anaheim, CA

11/29/2018 $292

$4,355,000 14,899

1999

22840 Savi Ranch Pky Yorba Linda, CA

3/26/2018

$200

$4,095,100 20,437

1986

303 N Placentia Ave Fullerton, CA

8/15/2017

$271

$3,787,500 14,000

1976

5877 Pine Ave Chino Hills, CA

8/22/2018

$253

$3,700,000 14,598

2006

1036 W Taft Ave Orange, CA

7/7/2017

$219

$3,085,000 14,101

1988

1890-1896 N Main St Orange, CA

12/11/2017 $201

$2,846,500 14,129

1986

4. AVAILABLE OFFICE BUILDINGS FOR SALE

Office Buildings For Sale

# Photo

Address

Size SF

Price/SF

Asking Price Year Built

1210 N Kraemer Blvd Anaheim, CA

26,469

$269

$7,120 161

1981

22860 Savi Ranch Pky Orange, CA

22,544

$242

$5,450 000

1986

AVAILABLE OFFICE BUILDINGS FOR LEASE 5.

Office Buildings For Lease

6 5

Max Contiguous Space (SF)

Rentable Bldg Area (SF)

# Photo

Address

Rate

Year Built

17542 E 17th St Tustin, CA

25,198

90,932

$2.60 FSG

1984

500 S Kraemer Blvd Brea, CA

16,480

94,492

$2.45 FSG

1979

675 Placentia Ave Brea, CA

19,700

133,943

$2.65 FSG

2002

Office Buildings For Lease

Max Contiguous Space (SF)

Rentable Bldg Area (SF)

# Photo

Address

Rate

Year Built

22705 Savi Ranch Pky Yorba Linda, CA

28,495

110,238

$1.35 NNN

1989

22840 Savi Ranch Pky Yorba Linda, CA

19,644

20,437

$2.15 FSG

1986

23705 Via Del Rio Yorba Linda, CA

15,000

30,000

$1.50 MG

1986

5515 E La Palma Ave Anaheim, CA

26,708

155,880

$2.10 NNN

1978

160 N Riverview Dr Anaheim, CA

29,293

73,892

$2.90 FSG

2008

METHODOLOGY, VALUATION & FEES 6.

Office Building For Sale Service Methodology

MARKETING TIMELINE

WEEK 1-2 PRE-MARKETING

WEEK 2-4 MARKETING LAUNCH

WEEK 2-LEASE UP MARKETING CAMPAIGN

AS OFFERS RECEIVED NEGOTIATIONS

DELIVERING PROMISE CLOSING

# Photo Aerials, and Drone Operating Expense Analysis Install Signage Create Property Collateral Develop Owner’s preferred reporting system (template) Schedule reporting calls/meetings 1 Establish Objectives and Start Project Branding Execute Listing Agreement Property Recommendations Compile Due Diligence Review Building Plans Create Property Description Focus on Unique Positioning and Branding Compile Targeted Tenant Lists Schedule Photographs,

Address Cooperation Circulate to Cushman & Wakefield brokers Update Multiple Listing Services Alert Top Brokers Alert Local SIORs Begin Phone Campaign Contact Targeted Tenants Leverage User Database Finalize Project Branding Begin Email Campaigns Begin Targeted Geographic Mailers Begin Targeted S.I.C. Code Mailers Email Broker Blasts Broker Calls &

On-Going Cold- Calling Team Conducts All Property Tours Continue Follow-up Phone Calls or In- Person Visits with Prospective Tenants Track Competition Explore Broker Bonus

Size SF Respond to Any Issues that Arise During Tenant’s Due Diligence Draft Contracts, Review for Accuracy Negotiate Contracts Finalize Contracts 96,000 Receive Offer Summarize and Submit Negotiate LOI Terms Internally Push Pricing Contact Occupier Current Landlord Tour Tenant’s Existing Space Assess Potential Tenant’s Financial Capability Execute Final LOI Coordinate Tenant’s Vendor Inspections Coordinate Tenant’s Occupancy Inspection

Tenant Executes Lease Buyer Executes PSA Receive Tenant’s Monies Due Upon Execution Receive Tenant’s Certificate of Insurance Landlord Executes Lease Coordinate Key & Alarm Code Exchange Introduction to Property Manager Property Transition Finalize Lease Abstract Provide update Broker Opinion of Value (BOV) with new lease datea

(if necessary) Explore Open House

(if necessary) Explore Tour Incentive Program (if necessary)

Rate

15771 Red Hill Ave. Tustin, CA

$245

26970 Aliso Viejo Pkwy Aliso Viejo, CA

38,716

$315

14192 Franklin Ave. Tustin, CA

95,458

$220

Office Building For Sale Service Methodology

THE KEY ELEMENTS OF THE MARKETING STRATEGY

We approach the marketing process from a perspective that demands both quantity and quality. Our marketing program will contact over 3,000 businesses in the first three months of the listing. 1. Shift focus toward office flex occupiers. The market is experiencing more demand and less competition than the office market and the value difference is negligible. A user buyer will reduce or eliminate tenant improvements, rent concessions and lease commissions. 2. Create a marketing system — We will create user friendly marketing pieces that connect with the KAISER property. Including:

service databases Every tour accompanied by a member of the Team Electronic brochures/materials distributed regularly to brokers

Target User Community

Utilize Cushman & Wakefield’s proprietary Tenants in the Market list Email campaign to targeted users in the market Direct phone canvasing “Boots on the Ground” – Direct canvasing of not only East Anaheim but Corona, North and West Orange County as well

Brochures Website Postcards E-mail Blast Drone

3. Deliver Better Intelligence — Our Leasing Team has more boots on the ground, better organization and higher transaction volume than our competitors. We will provide a deeper prospect list and qualifying drivers such as; reputation, origination, credit worthiness, competition, renewal probability and tenant representation tactics. Most importantly, we will identify trends and target marketing to expanding industries.

4. Marketing Process— Two Tiered Marketing Plan

Target Brokerage Community

# Photo Personal calls to brokers in the market Utilize marketing Team’s relationship with key brokers List property on multiple listing Address

Size SF

Rate

15771 Red Hill Ave. Tustin, CA

96,000

$245

26970 Aliso Viejo Pkwy Aliso Viejo, CA

38,716

$315

14192 Franklin Ave. Tustin, CA

95,458

$220

Office Building For Sale Financial Overview

Recommended Asking & Probable “Strike” Rental Rate

RECOMMENDED ASKING RATE

PROBABLE “STRIKE” RATE

BASE RATE OPEX TOTAL TOTAL RENT

$2.00 NNN $.75 $2.75 FSG

$1.75 NNN $.75 $2.50 FSG

$60,780

$55,255

Recommended Asking & Probable “Strike” Sales Price

RECOMMENDED ASKING RATE

PROBABLE “STRIKE” RATE

PSF

$305 PSF $6,741,110

$280 PSF $6,188,560

TOTAL PRICE

# Photo

Address

Size SF

Rate

15771 Red Hill Ave. Tustin, CA

96,000

$245

26970 Aliso Viejo Pkwy Aliso Viejo, CA

38,716

$315

14192 Franklin Ave. Tustin, CA

95,458

$220

Office Building For Sale Financial Overview

CUSHMAN & WAKEFIELD OVERVIEW OF FEES

Below is a description of our proposed fee structure:

NET LEASE SCENARIO

Years 1-5

Years 6-10

5.0% Co-Broker 2.5% Listing Team 7.50%

2.50% Co-Broker 1.25% Listing Team 3.75%

Co-Broker Transactions No Outside Broker Transactions

3.00%

GROSS LEASE SCENARIO Years 1-5

Years 6-10

4.0% Co-Broker 2.0% Listing Team 6.00%

2.50% Co-Broker 1.50% Listing Team 3.00%

Co-Broker Transactions No Outside Broker Transactions

5.00%

2.50%

SALES Compensation with cooperating brokers to be negotiated on a case by case basis but typical market fees are as follows:

# Photo

Address

Size SF

Rate

Direct:

4.0% of the sale price

Co-Brokered:

4.75% of the sale price

15771 Red Hill Ave. Tustin, CA

96,000

$245

26970 Aliso Viejo Pkwy Aliso Viejo, CA

38,716

$315

14192 Franklin Ave. Tustin, CA

95,458

$220

7. TEAM OVERVIEW

Team Overview

DON YAHN , Executive Director 18111 Von Karman Ave, Suite 1000, Irvine, CA 92612 +1 949 930 9251 don.yahn@cushwake.com Lic #00990928

Professional Expertise Donald Yahn is an Executive Director of Cushman & Wakefield’s Orange County offices in Southern California. He oversees the marketing and sales of office, industrial buildings and land in Orange County and executes tenant representation transactions nationally. Don Yahn is widely regarded as one of Orange County’s leading advisers to corporate real estate occupiers and property owners, including major manufacturers, distributors, financial institutions, and professional service firms globally. Throughout his 29-year career, he has completed hundreds of transactions and consulting assignments totaling over 10 million SF and $2 Billion. Don has a strong passion and extensive experience analyzing real estate portfolio costs, opportunities and transaction goals, as well as developing and implementing strategic real estate solutions for corporate occupiers of commercial space. Don’s team finds success by providing tenants with the tools they need to better utilize the space they currently have, will need in the future, and advise on different ways to use workplace strategy to brand themselves internally and externally in the marketplace. Don has worked on numerous headquarters assignments, lease restructuring, right-sizing, early termination, sublease disposition, and renewal and relocation transactions with his personalized process that delivers improved efficiency, flexibility and savings.

In 2012, 2015, and currently in 2019, Don was ranked as Cushman & Wakefield’s top 10 producing industrial brokers in the Americas. Don has been a perennial top producer and member of the Chairman’s Circle in recognition for his Top Performance.

Education

Bachelor of Science (BS), University of Southern California Marshall School of Business, 1987 Clients Served

MerchSource Foundation Building Materials Caliber Collision AutoNation Porsche North America Global Logistics Properties DCT Industrial Sares Regis Group JP Morgan PS Business Parks, Alere Properties Three Crowns Properties Hyundai Motor America Hyundai Capital America Hyundai America Technical Center Kaseya Corp Franklin Covey

Team Overview

BRETT SWARTZBAUGH , Director 18111 Von Karman Ave, Suite 1000, Irvine, CA 92612 +1 949 930 9217 brett.swartzbaugh@cushwake.com Lic #01742530

Professional Expertise

Clients Served

AutoNation ABC Supply Co. Caliber Collision Global Logistics Properties DCT Industrial Sares Regis Group JP Morgan

Brett Swartzbaugh joined The Yahn Group in 2006 from a 10-year career in telecommunications and technology consulting Fortune 500 clients. Brett is Director of the Orange County office of Cushman & Wakefield and The Yahn Group, which serves tenants and owners in the Irvine Spectrum, South Orange County and John Wayne Airport area. Projects include industrial, high- tech properties and office properties. The Team’s current assignments consists of over 1,700,000 square feet of properties for lease or sale valued at over $100 million.

PS Business Parks Alere Properties

Three Crowns Properties Hyundai Motor America Hyundai Capital America Hyundai America Technical Center Kaseya Corp Franklin Covey Master Foods/Mars Brands Danaher Corp/Keithley/Tektronix Edmunds.com First American Title ITT Industries/Xylem Galasso Bakeries Saddleback Valley Unifed School District

Education

Bachelor of Arts (BA) Communications, University of Southern California, 1997 Associate of Arts (AA), Saddleback College, 1994 Member of Phi Gamma Delta (Fiji) Fraternity

Team Overview

JEVAN SNEAD , Associate 18111 Von Karman Ave, Suite 1000, Irvine, CA 92612 +1 949 372 4887 jevan.snead@cushwake.com Lic #02057745

Professional Expertise

Jevan joined The Yahn Group in 2018 coming from a career in business development in the medical device industry. Jevan is an Associate at the Orange County office of Cushman & Wakefield and The Yahn Group, which serves tenants and owners in the Irvine Spectrum, South Orange County and John Wayne Airport area. Projects include industrial, high-tech properties and office properties. The Team’s current assignments consists of over 1,700,000 square feet of properties for lease or sale valued at over $100 million. Jevan is a highly competitive and goal-driven professional with a proven track record of exceeding expectations.

Education

Bachelor of Business Administration (B.B.A.) Marketing, University of Mississippi, 2010 Business Honors Society Scholarship Athlete and Starting Quarterback

Team Overview: Deals

8191 E. KAISER BLVD. A N A H E I M , C A 9 2 8 0 8

DON YAHN +1 949 930 9251 don.yahn@cushwake.com Lic #00990928

BRETT SWARTZBAUGH +1 949 930 9217 brett.swartzbaugh@cushwake.com Lic #01742530

JEVAN SNEAD +1 949 372 4887 jevan.snead@cushwake.com Lic. #02057745 CUSHMAN & WAKEFIELD 18111 Von Karman Ave, Suite 1000, Irvine, CA 92612

Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

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