5373 MISSION CENTER ROAD

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5373 MISSION CENTER ROAD BILL SHRADER +1 858 677 5324 bill.shrader@colliers.

1 5373 MISSION CENTER ROAD BILL SHRADER DAVID MAXWELL INVESTMENT OPPORTUNITY SAN DIEGO, CA JOE BRADY

The INVESTMENT Colliers International is pleased to present the opportunity to acquire 5373 Mission Center Road, located in the heart of Mission Valley.

The two-story restaurant building was built in the late 1980 s and sits on a 1.15 acre parcel. The long-time tenant is an Old West style saloon/dance hall called InCahoots.

2 The INVESTMENT Colliers International is pleased to present the opportunity to acquire 5373 Mission Center Road, located in the heart of Mission Valley. Positively in the middle of it all, this location presents itself to be an ideal restaurant, retail, or office investment opportunity, along with owner/user potential. The two-story restaurant building was built in the late 1980 s and sits on a 1.15 acre parcel. The long-time tenant is an Old West style saloon/dance hall called InCahoots. Being one of the few country bars in the San Diego area with a rare Type 48 Liquor License not requiring food sales, InCahoots is a popular destination for those craving a night of two-stepping and line dancing. Buyer has the option to renew/extend the existing tenant or reposition the building for an alternative use. There s no shortage of ways to reach this central neighborhood. From the north or south Interstate 5, exit to I-8 westbound. Several exits along the highway will take you to hotel circle, Fashion Valley Mall, and Mission Valley Shopping Center. Conveniently located in the center of San Diego county, the area is within a 15 minute drive of the San Diego Zoo, Seaworld San Diego, and Downtown Gaslamp District and offers a wealth of affordable accommodation, family friend dining options, and great shopping at both the Fashion Valley and Mission Valley malls. > > Centrally located in Mission Valley > > Easy freeway access to I-5, I-8, I-15, and Highway 163 > > Minutes away from San Diego International Airport Investment HIGHLIGHTS Location Limited Supply Long Term Tenant Value Creation Pride of Ownership Diversified Draw/ Tourism 2 COLLIERS URBAN PROPERTY TEAM 3

Property SUMMARY Price: $3,950,000 Rentable SF: 11,821 Net Operating Income: Contact Broker Percentage Leased: 100%

The property will be sold on an as-is basis.

3 Property SUMMARY Price: $3,950,000 Rentable SF: 11,821 Net Operating Income: Contact Broker Percentage Leased: 100% Transaction Timetable & Procedure: Contact listing broker to schedule a tour of the property. Twenty-four hour notice is appreciated. Offers: The Seller reserves the right to sell the property at anytime during the marketing period without prior notice. The property will be sold on an as-is basis. Address & Location 5373 Mission Center Rd San Diego, CA APN Lot Year Built Stories Parking Tenant 1.15 AC Late 1980 s (est.) Two Levels 86 Spaces InCahoots Two-Steps from major tourist attractions such as Fashion Valley Mall, SDCCU Stadium, the Gaslamp Quarter and Old Town. 4 COLLIERS URBAN PROPERTY TEAM 5

The MARKET The PROGRESSION OF OFFICE The Mission Valley office submarket has one of the most diverse tenant bases in the county, with users such

47/SF/MONTH TOTAL SF TOTAL VACANCY NEW DEVELOPMENTS FULL SERVICE AVG ASKING RATE CIVITA DEVELOPMENT 15 difference residential and commercial

office 230 acres Expected completion: 2020-2025 RETAIL Mission Valley is home to two regional malls including San Diego s largest, Fashion Valley

53/SF/MONTH TOTAL SF TOTAL VACANCY REGIONAL MALLS NNN AVG ASKING RATE UNION TRIBUNE AMP&RSAND Two building, 333,000 SF office campus 64,000 SF of

acres Expected completion: 2018 OWNER/USER Mission Valley is market where most tenants lease space.

There are limited options for owner/user buyers, making these opportunities rare with constrained opportunities.

Site - Replacing the stadium with student/faculty housing and research/academic space - 35,000 seat stadium Proposal 2: Major League Soccer

primarily a multi-family rental market. Most owned properties tend to be attached townhouse or condominiums.

4 The MARKET The PROGRESSION OF OFFICE The Mission Valley office submarket has one of the most diverse tenant bases in the county, with users such as financial firms, real estate offices, legal services and other professional services MILLION 7.89% 5 $2.47/SF/MONTH TOTAL SF TOTAL VACANCY NEW DEVELOPMENTS FULL SERVICE AVG ASKING RATE CIVITA DEVELOPMENT 15 difference residential and commercial developments 4,870 residential units Accommodating 15,000 new residents, nearly doubling the population 480,000 SF of retail & 420,000 SF of office 230 acres Expected completion: RETAIL Mission Valley is home to two regional malls including San Diego s largest, Fashion Valley Mall, and other prominent nearby retailers MILLION 0.8% 2 $2.53/SF/MONTH TOTAL SF TOTAL VACANCY REGIONAL MALLS NNN AVG ASKING RATE UNION TRIBUNE AMP&RSAND Two building, 333,000 SF office campus 64,000 SF of outdoor collaborative space Industrial loft-style, exposed brick, concrete-pillars, 13-foot ceilings and oversized windows On-site amphitheater 13 acres Expected completion: 2018 OWNER/USER Mission Valley is market where most tenants lease space. In fact, there is less than 1 million SF of combined retail and office space that is owned and occupied by the tenant (owner/user). There are limited options for owner/user buyers, making these opportunities rare with constrained opportunities. 301, , SF of RETAIL SPACE RETAIL PROPERTIES SF of OFFICE SPACE OFFICE PROPERTIES SDCCU STADIUM SITE Proposal 1: Mixed Use University Site - Replacing the stadium with student/faculty housing and research/academic space - 35,000 seat stadium Proposal 2: Major League Soccer Stadium - Stadium facility containing 20,000-30,000 seats - 4,800 homes - 3 million SF of commercial development RESIDENTIAL Mission Valley is primarily a multi-family rental market. Most owned properties tend to be attached townhouse or condominiums. The market is seeing both fast growing home prices and rental rates. 7,163 10% 473 $2,206 TOTAL UNITS VACANT HOUSING UNITS UNITS UNDER CONSTRUCTION AVG MONTHLY RENTAL RATE RIVERWALK GOLF CLUB REDEVELOPMENT 4,000 residential units 1 million SF office space & 100,000 SF of retail space 75-acre park 200 acres in total Initial plan includes a new trolley stop Ultimate plan is in process 6 COLLIERS URBAN PROPERTY TEAM 7

5 Sales COMPARABLES FRIARS ROAD Sale Date 10/09/17 Bldg SF 10,903 Sale Price $1,658,039 Price Per SF $152 Year Built RIO SAN DIEGO DR. Sale Date 04/13/17 Bldg SF 113,395 Sale Price $28,250,000 Price Per SF $249 Year Built CAMINO DEL ESTE Sale Date 09/14/16 Bldg SF 18,175 Sale Price $14,000,000 Price Per SF $770 Year Built MISSION GEORGE RD Sale Date 07/05/16 Bldg SF 2,429 Sale Price $1,170,000 Price Per SF $482 Year Built FRIARS ROAD Sale Date 04/15/16 Bldg SF 12,786 Sale Price $3,540,000 Price Per SF $277 Year Built COLLIERS URBAN PROPERTY TEAM 9

Mission VALLEY ULRIC S T Major urban development began occurring in Mission Valley in 1958, mostly because of highway improvements.

The San Diego River is an important part of Mission Valley s character. The river travels approximately 52 miles from the mountains of Julian to the Pacific Ocean at Dog Beach in Mission Bay Park.

Conveniently located in the center of San Diego county, the area is within a 15 minute drive of the San Diego Zoo, SeaWorld San Diego and Downtown Gaslamp Quarter and offers a wealth of affordable

Outdoor enthusiasts can play 18 holes at the Riverwalk Golf Club in Mission Valley or go hiking and rock climbing in Mission Trails Regional Park.

sites. Quaint boutiques, mouth-watering restaurants, colorful art galleries and festive theatres also populate nearby Old Town, making it a not-to-bemissed stop.

Just follow the aroma of freshly made tortillas and take a seat outside on the patio.

6 Mission VALLEY ULRIC S T Major urban development began occurring in Mission Valley in 1958, mostly because of highway improvements. Today it is an urban center of San Diego, and is home to SDCCU Stadium, Hotel Circle and several major shopping centers and malls. The San Diego River is an important part of Mission Valley s character. The river travels approximately 52 miles from the mountains of Julian to the Pacific Ocean at Dog Beach in Mission Bay Park. Just minutes away from the San Diego International Airport and within easy reach of all that San Diego has to offer, Mission Valley is a great place to call home base. Conveniently located in the center of San Diego county, the area is within a 15 minute drive of the San Diego Zoo, SeaWorld San Diego and Downtown Gaslamp Quarter and offers a wealth of affordable accommodations, family friendly dining options a great shopping at both the Fashion Valley and Mission Valley malls. Outdoor enthusiasts can play 18 holes at the Riverwalk Golf Club in Mission Valley or go hiking and rock climbing in Mission Trails Regional Park. Cultural attractions in the area include the Mission San Diego de Alcala, the first of 21 missions established in California, and Old Town State Park with 12 acres of Mexican lore and historical sites. Quaint boutiques, mouth-watering restaurants, colorful art galleries and festive theatres also populate nearby Old Town, making it a not-to-bemissed stop. Mexican cuisine is the specialty in Old Town. Here you ll find authentic delectable fare at any of the many cantinas. Just follow the aroma of freshly made tortillas and take a seat outside on the patio. Enjoy the sounds of local mariachi, or watch traditional folkloric dancers as you sip on the best margaritas in town. Here you ll also find the main boarding location for the Old Town Trolley Tours, which offers an excellent sightseeing tour of San Diego with on-andoff privileges. The Old Town Transit Center, located adjacent to Old Town San Diego State Historic Park, services passenger trains operating on Amtrak s Pacific Surfliner and the San Diego Coaster with a variety of stops Downtown, including the Convention Center and Petco Park. Free parking is offered in the Transit Center lot. Y D AYLOR ST TOWN FRIARS RD COWLEY WAY LINDA VISTA RD SAM SNEAD ALL-AMERICAN GOLF COURSE IA LA S CUMB R E S V RIVERWALK GOLF CLUB MISSION HILLS WEST LINDA VISTA RD ULRIC ST ULRIC ST FRIARS RD MISSION CENTER RD MADISON AVE LOCAL DEMOGRAPHICS MISSION CENTER RD UNIVERSITY HEIGHTS MISSION CITY EAST ST LOUISIANA ST TEXAS ST ADAMS AVE MADISON AVE MONROE AVE MEADE AVE EL CAJON BLVD FRIARS RD UTAH ST 1 Mile 3 Miles 5 Miles Population (2017) 17, , ,151 Project Population (2022) 18, , ,039 Project Pop. Growth ( ) 41.0% 11.7% 10.7% Total Daytime Population 39, , ,366 Total Households 8,011 97, ,841 Avg. Household Size Avg. Household Income $95,179 $86,199 $83, COLLIERS URBAN PROPERTY TEAM 11

5373 MISSION CENTER ROAD BILL SHRADER Senior Vice President +1 858 677 5324 bill.shrader@colliers.

7 5373 MISSION CENTER ROAD BILL SHRADER Senior Vice President Lic. No DAVID MAXWELL Vice President Lic. No JOE BRADY Senior Associate Lic. No La Jolla Village Drive, Suite 500 San Diego, CA Lic. No colliers.com/sandiego

FOR LEASE 4,640 SF FREESTANDING BUILDING

967 CAMINO DEL RIO S SAN DIEGO, CA 92108 FOR LEASE 4,640 SF FREESTANDING BUILDING TOMMAS GOLIA Associate Vice President D: 858 598 2891 Tommas@PacificCoastCommercial.com Lic. 01890744 JASON VIEIRA Senior