Corporate leaseslow rent / 7% Cap3601 Ming Avenue, Bakersfield, CA 93309

[ www.CapitalPacific.com ]

lumber liquidators& Hustler Hollywood

RentABle SF . . . . . . . . . . . . . . . 15,000 SF

PRiCe PeR SF . . . . . . . . . . . . . . . $211

lAnd AReA . . . . . . . . . . . . . . . 0 .97 Acres

YeAR RenovAted . . . . . . . . . . 2015

AveRAge Rent . . . . . . . . . . . . $15 .18/SF

AReA ASking RentS . . . . . . . $20-24 .00/SF

PRICE: $3,171,071CAP: 7.00%

Listing TeamContact Info

Dave Lucasdlucas@capitalpacific .com | (415) 274-7390CA BRE# 01389761

John Andreinijandreini@capitalpacific .com | (415) 274-2715CA BRE# 01440360

PROperty Summary

Capital Pacific collaborates . Click here to meet the rest of our San Francisco team .

[ Surrounding area retail]low REnt StRiP CEntER | 2

long term upside - lumber liquidators is paying 45% less rent than the most recent lease signed with hustler HOllywood

PRoPeRtY highlightS

over 1 .5 million square feet of retail immediate area- this includes the Home Depot, Macy’s, target, Apple Store, Ross, t .J . Maxx, a movie theatre, and countless others within a 3 block radius

Huge traffic counts and highway visibility; over 140,000 vehicles per day on i-99 and 41,000 vehicles per day on Ming Avenue

Fungible box building

new roof with 20 year warranty, electrical, HVAC, and parking lot

luMBeR liquidAtoRS - CoRPoRAte leASe

Record 2014 revenues of over $1 billion

8-year initial term with two five-year options that have 10% rental increases

landlord responsible for roof and structural components

tenant responsible for common area maintenance, repairs, maintenance, and replacement of all interior non-structural components, and HVAC

Below market rent - great intrinsic value

Store is open

huStleR hollYwood - CoRPoRAte leASe

10-year initial term with two five-year options; 10% increases every five years throughout the initial term and options

landlord responsible for roof and structural components

tenant responsible for common area maintenance, repairs, maintenance, and replacement of all interior non-structural components, and HVAC

core characteristics

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aerial

Stin

e Ro

ad

new

Stin

e Ro

ad

gosf

ord

Road

white lane

Stockdale highway

Ming Avenue

99

58

58

vAlleY PlAZA

Ming ARound the CoRneR

HUSTLERSTOCKDALE COUNTRY CLUB

SUNDALE COUNTRY CLUB

louise Sandrini elementary

Stine elementary

laurelglen elementary

Sing lum elementary

old River elementary

hart elementary

Christa McAuliffe

elementary

Stockdale elementary

quailwood elementary

Charles h. Castle elementary

oJ Actis Jr. high School

tevis Jr. high School

Fred l. thompson Jr. high School

west high School

the MARketPlACe

BAKERSFIELD CITY CENTER

99

41,118 DAILY

140,000DAILY

huge tRAFFiC CountS: oveR 140,000 vPd on i-99 And oveR 41,000 vPd on Ming Ave.

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AREA RETAILERS INCLUDE

TARgET, AppLE STORE, MACY’S,

THE HOME DEpOT, ROSS, T.J.

MAXX AND MANY OTHERS

Area Retailers

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income & expense

PRICE $3,171,071

Price Per Square Foot: $211 .40

Building Size (SF): 15,000

Capitalization Rate: 7 .00%

lot Size (Acres) 0 .97

STABILIZED INCOME Per Square Foot

Rent $14 .80 $221,975

LESS Per Square Foot

taxes nnn $0 .00

insurance nnn $0 .00

total operating Expenses $0 .00

EQUALS NET OPERATING $221,975

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

rent roll

tenAnt inFo leASe teRMS Rent SuMMARY

Tenant Name Sq. Ft. Lease Start

Lease Expiration

Current Rent

Monthly Rent

Monthly Rent/FT

YearlyRent/FT

lumber liquidators (Corporate) 8,500 5/26/2016 5/31/2023 $104,975 $8,747 .91 $1 .03 $12 .35

option 1 6/1/2023 5/31/2028 $9,621 .06 $1 .13 $13 .58

option 2 6/1/2028 5/31/2032 $10,583 .16 $1 .25 $14 .94

Hustler Hollywood (Corporate) 6,500 3/1/2016 3/31/2021 $117,000 $9,750 .00 $1 .50 $18 .00

4/1/2021 3/31/2026 $10,725 .00 $1 .65 $19 .80

option 1 4/1/2026 3/31/2031 $11,797 .50 $1 .82 $21 .78

option 2 4/1/2031 3/31/2036 $12,977 .25 $2 .00 $23 .96

Current Totals: 15,000 $221,975 $18,498 $1.26 $15.18

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site plan

Ming Avenue

PYlon Sign

HUSTLER

Site PlAn keY

PARCEl outlinE:

lAnD AREA: 0 .97 ACRES

BuilDing AREA: 15,000 SF

ingRESS/EgRESS:41,118 DAILY

This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.

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[ Surrounding area retail]

Hustler Hollywood is an upscale, modern boutique dedicated to providing a sophisticated shopping experience for its customers . Hustler’s mission is to provide a bright and spacious retail store filled with premium apparel and accessories in a stylish, comfortable setting . the first Hustler Hollywood opened in 1998 on the famed Sunset Strip in west Hollywood . there are stores across the country and expansion continues .

with more than 350 locations, lumber liquidators is north America’s largest specialty retailer of hardwood flooring . the company features more than 400 top quality flooring varieties, including solid and engineered hardwood, bamboo, cork, laminate, and vinyl plank . Additionally, lumber liquidators provides a wide selection of flooring enhancements and accessories to complement, install, and maintain your new floor . Every location is staffed with flooring experts .

2014 Revenue$1.05 Billion

net inCoMe $63.3 Million

tenants

*Call Agent for Financial details*very Strong Corporate guaranty

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2015 HOUSEHOLD INCOMES

pOpULATION

TOp EMpLOYERS IN BAKERSFIELD

demographics & regional map

Employer # of Employees*County of Kern 7,475the giumarra Companies 4,200grimmway Farms 3,500Bolthouse Farms 2,000*Approximate

loS AngElES

SAn FRAnCiSCo

BAKERSFiElD 1 HR 42 Min110 MilES

4 HR283 MilES

luMBER liquiDAtoRS

& HuStlER

1-Mile 3-Mile 5-Mile

2010 19,690 143,150 301,5762015 20,093 146,698 316,1352020 20,669 151,858 332,463

1-Mile 3-Mile 5-Mile

Average $46,267 $56,243 $62,281

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ABout BAkeRSField

Bakersfield is located in Southern California at the end of the San Joaquin Valley in Kern County . the city is 110 miles north of los Angeles and about the same distance south of Fresno . the Bakersfield population is around 350,000, making it the 9th largest city in California and the 52nd largest in the country .

Bakersfield is the focal point of the Bakersfield-Delano MSA, which is coextensive with Kern County . in 2010, it had a population of 839,631, making it the 62nd largest metropolitan area in the u .S .

Bakersfield has a very diverse economy . Kern County produces the most oil and is the fourth most productive agricultural county in the country . other industries include natural gas and other energy extraction, aerospace, mining, petroleum refining, manufacturing, distribution, food processing, and corporate/regional headquarters .

Several companies have moved to Bakersfield because of its inexpensive land and access to the rest of America, as well as its international ports in both los Angeles and oakland . other companies have opened regional offices and non-oil/agricultural businesses because of Bakersfield’s and Kern County’s business friendly policies, such as having no local utility or inventory taxes . Products manufactured in the city include: ice cream (world’s largest ice cream plant), central vacuums, highway paint, and stock racing cars .

9th largest city in california

location

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A unique HUMANRESULTS-DRIVEN client experience

the CAPitAl PACiFiC exPeRienCe - ouR dAilY CoMMitMent to ouR ClientS

[ www.CapitalPacific.com ]

ChRiS koStAneCki ck@capitalpacific .com | (415) 274-2701 CA BRE# 01002010

John AndReinijandreini@capitalpacific .com | (415) 274-2715 CA BRE# 01440360

[ Copyright © 2015 Capital Pacific llC ]

Capital Pacific collaborates . Click here to meet the rest of our San Francisco team .

ChRiS PeteRS

dAve luCAS

ZAndY SMith

JACk nAvARRA

ZeB RiPPle

Joe CACCAMo

gRegg Steele

kARlA ZenS

[ Surrounding area retail]