SA

N

DI

EG

O

CO

AS

TA

L

IN

VE

ST

ME

NT

O

PP

OR

TU

NI

TY

216S . T R E M O N T S T R E E T

O C E A N S I D E , C A 9 2 0 5 4

O F F E R I N G M E M O R A N D U M

table of contents

THE OFFERING

Executive Summary

Offering Highlights

Offering Details

THE PROPERTY

Tenant / Lease Summary

Property Details / Parcel Map

Property Location

THE MARKET

Oceanside Overview and Amenities

Downtown Oceanside Master Plan

Sale Comps

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M2

The Offering

CBRE Inc. is the exclusive listing agent for the sale of this single tenant leased investment consisting of approximately 3,500 SF of office space on 7,500 SF of land. The offering represents the opportunity to acquire the fee simple interest in an extremely well-located property in a high growth San Diego coastal community with significant income and redevelopment upside.

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M3

OFFERING HIGHLIGHTS

• Fee Simple Ownership

• Below Market Rent

• Located across the street from the Oceanside Transit Center and very near Downtown Oceanside’s major redevelopment area

• Walking distance (3-4 blocks) to the beach and Oceanside Pier

• Zoning Allows for Mixed-Use Redevelopment

Offering Details

ASKING PRICE:$1,295,000

CAP RATE:4.25%

$PSF (BUILDING):$370

$PSF (LAND):$173

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M4

The Property

LEASE SUMMARY

• Tenant: Legal Aid Society of San Diego (www.lassd.org)

• Lease Type: Modified Gross

• Commencement Date: March 1, 1998

• Expiration Date: June 30, 2021

• Monthly Rent: $5900.00 (approx.)

• Rent Increases: Annually on July 1 per LA CPI

• Options: None

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M5

• Address: 216 S. Tremont St, Oceanside, CA 92054

• APN: 150-045-03

• Zoning: C2 (General Commercial – Coastal)

• Year Built: 1908

• Building SF: 3500 SF (approx.) in two buildings

• Land SF: 7500 SF (75 x 100)

• Parking: 6 on-site spaces (1 ADA)

• ADA ramp to building entrance

• Buildout:

• Reception area

• 11 private offices

• Break/kitchen area

• 3 bathrooms

• Conference Room

PropertyDetails

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M6

Property Location

OCEANSIDE TRANSIT CENTER

The Property is located directly across the street from the Oceanside Transit Center (OTC). The OTC is part of the North County Transit District (NCTD), which offers services that are a vital part of San Diego’s local and regional transportation network. The family of transit services includes:

Pacific Surfliner service between San Diego and San Luis Obisbo and Northern California

Commuter rail service for Los Angeles, Orange County and the Inland Empire

Local and regional bus service

Light rail service for San Diego County north to south and east to west

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M7

The Market

Nearby is the nostalgic Oceanside Pier, the longest wooden ocean pier on the West Coast. Nearly four miles of sandy beaches attract internationally renowned Triathlon, Surfing and Beach Soccer Events. The California Surf Museum, located in the downtown area, also shows the connection between the city and the sea.

With six golf courses, Oceanside offers everything a golfer wants. Two Municipal Golf Courses: Oceanside Municipal Golf Course and Center City Golf Course (also known as Goat Hill). Two public courses: Arrowood Golf Course and Emerald Isle Golf Course. Two private 18-hole golf courses: El Camino Country Club and Ocean Hill Country Club. Oceanside is also home to a disc golf facility. More than 80 other golf facilities are located within an easy drive of Oceanside. Local attractions include the historic Mission San Luis Rey and the Oceanside Museum of Art.

Oceanside is home to 30 City parks, 1 dog park, 5 community recreation centers, 4 skate parks, 2 swim centers, 3 ½ miles of public beaches, 1,942-square-foot fishing pier, a 1,000-slip marina and future 20 field premier soccer tournament facility at El Corazon, a City-owned parcel of 465 acres located in the center of Oceanside, bounded by Rancho del Oro Drive on the east, Oceanside Boulevard on the south, El Camino Real on the west, and Mesa Drive on the north. The site contains the following mixture of land uses: parks and recreation (212 acres), habitat (164 acres), civic services (34 acres), Oceanside Boulevard commercial (25 acres), village commercial (19 acres), and hotel (11 acres).

Oceanside is within 30 minutes of the Padres, renowned museums and theaters, and some of the most popular tourist attractions in the world, including the San Diego Zoo, Balboa Park, Old Town, Sea World, Lego Land, Sea Life Aquarium, the Del Mar Racetrack and the Wild Animal Park. Oceanside is within 30 minutes to South Orange County and approximately one hour from Disneyland, Knott’s Berry Farm, The Bowers Museum of Culture & Art, and Discovery Science Center.

The City of Oceanside is a 42-square-mile coastal community located in North San Diego County, California. With a near perfect year-round climate, Oceanside offers an incomparable lifestyle and abundant economic opportunity.

Residents and visitors alike enjoy Oceanside Harbor, a picturesque mix of water sports and docks for 1,000 boats. Activities include sailing, kayaking, whale watching, fishing and sightseeing charters, resort hotel accommodations, restaurants, retail shops, and residential properties.

2020miles SOUTH of San Clemente/Orange County

3030miles

NORTH of San Diego

8383miles

SOUTH of Los Angeles

Interstate 5, a major north/south corridor, parallels the ocean. Freeway 78 runs southeast to Interstate 15 at Escondido 20 miles east. Freeway 76 runs northeast to I-15

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M8

Amenities

1110

9

3

4

1819

2

13

1

21

5

7

6

208

17

15

14

1 Harney Sushi

2 Petite Madeline Bakery

3 Ty's Burger House

4 Rim Talay Thai Cuisine

5 Hello Betty Fish House

6 Tin Fish

7 333 Pacific

8 Breakwater Brewing Co.

9 Masters Kitchen & Cocktail

10 Oceanside Transportation Center

11 Local Tap House

12 Ruby's Diner

13 Regal Cinemas

14 Mission Ave Bar and Grill

15 Oceanside Museum of Art

16 Stay Golden Coffee Company

17 Banana Dang Coffee

18 Swami's Café

19 Jalisco Cantina

20 Wyndham

21 SpringHill Suites by Marriott

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M9

SDNR

FRE

SEAGAZDRIVE

EST

T

2

01

INTERSTATE 5

INTERSTATE 5

SEAGAZDRIVE

THE STRAND

DITMAR ST.

NORTH COAST HIGHWAY

TREMONT ST.

CLEVELAND ST.

MYERS ST.

PACIFIC ST.

THE STRAND

NEVADA ST.

CLEMENTINE ST.

HIGHWAY 76

SUNSET DR.

CAPISTRANO DR.

MONTERY DR.

SAN LUIS REY DR.

HARBO

R DR.

CARMELO DR.

RIVERSIDE DR.

MONTEREY DR.

HARBOR DRIVE SOUTH

BREAKWATER WAY

WINDWARD WAY

NEPTUNE WAY

CIVIC CENTER

SEAGAZE DR.

NEPTUNE WAY

WINDWARD WAY

SURFRIDER WAY

SURFRIDER WAY

SPORTSFISHER WAY

CIVIC CENTER DR.

TYSON ST.

FIRST.

PINE ST.

ELM ST.

PACIFIC ST.

ASH ST.

OAK ST.

PACIFIC ST.TAIT ST.

COASTER

CLEVELAND ST.

TREMONT ST.

TREMONT ST.

WASHINGTON AVE.

MINNESOTA ST.

MISSOURI ST.

MICHIGAN AVE.

TOPEKA ST.

TOPEKA ST.

PIER VIEW WAY

MISSION AVE.

FREEMAN ST.

DITMAR ST.

NEVADA ST.

HORNE ST.

NORTH COAST HIGHWAY

FREEMA

N ST.

FREEMAN ST.

WEITZEL

EIGHTH ST. McN

EIL

ST.

TRANSIT ST.

PACIFIC OCEAN

FREEMAN ST.

8 77

77

7

8

20

T

1616

a.b.

d.c.

e.

MARCH 2014

C i t y o f O c e a n s i d ePENDING DOWNTOWN DEVELOPMENT

14

THE STRAND

5

4

10N

S

15

5

1

19

6

9

11

12

MYERS ST.

17

22

18PACIFIC ST.

21

2

3

14

13

2423

Downtown Oceanside

Developments

ECONOMIC DEVELOPMENT • WWW.OSIDEBIZ.COM • 760-435-3352

*a - Application on File *e - Entitled* uc - Under Construction *c - Construction Complete

*p - Proposed Project *TI - Tentative Improvements Downtown Boundary

1. MARRIOTT RESIDENCE INN (117 ROOMS, 1,928 SF EVENTSPACE & 3,531 SF REST.) *a2. COSTA PACIFICA (308 UNITS & 4,000 SF RETAIL) *p3. MOTEL 6 (140 ROOMS WITH ROOF TOP LOUNGE) *p4. PIER VIEW HOTEL (10 ROOM, CAFE SPACE & ROOFTOP BAR LOUNGE) *uc5. CLEVELAND ST. BEACH LOFTS (MIX-USE - 2,000 SF OFFICE/RETAIL/10 CONDO UNITS) *uc6. NORTH BEACH PROMENADE - LOT 23 (440PARKING SPACES, 52 RESIDENTIAL UNITS & RETAIL - 10,000 SF )*uc7. GF PROPERTIES MIXED-USE PROJECT (231-UNITS, 150 HOTEL ROOMS, 38,000 SF COMMERCIAL) *e A. BLOCK 5 - 35 UNITS WITH 1,602 SF RETAIL *e B. BLOCK 18 - PIERSIDE SOUTH - 66 UNITS WITH 9,875 SF RETAIL *c C. BLOCK 19 - PIERSIDE NORTH - 101 UNITS WITH 12,138 SF RETAIL *c D. BLOCK 20 - 29 UNITS WITH 15,947 SF RETAIL *e E. SPRINGHILL SUITES MARRIOT (149 HOTEL ROOMS) + HELLO BETTY’S FISH HOUSE (6,438 SF) *c8. BEACH RESORT HOTEL (384 ROOMS, 20,000 SF MEETING/FUNCTION SPACE & 6,400 SF BALLROOM) *e NORTH BLOCK - 158 ROOMS, 7 STORIES, 7,975 SF OF COMMERCIAL & 157 PARKING SPACES *e SOUTH BLOCK - 226 ROOMS, 6 STORIES, 10,415 SF OF COMMERCIAL & 345 PARKING SPACES *e9. ISLAND BBQ - *p10. THE FIN HOTEL (28 ROOMS AND LOBBY BAR) *c11. EXHALE RESTAURANT *TI12. PACIFIC COAST SPIRITS - *TI13. FAT JOE’S O’SIDE *c 14. BEACH RESTROOMS PHASE II *p 15. 523 S. MYERS STREET (7 CONDO UNITS) *e16. 1010 OCEANSIDE (124 ROOM HOTEL, 90 LIVEWORK LOFTS & 8,357 SF RETAIL) *e17. 901 PIER VIEW WAY (12 UNITS & 2,000 SF COMMERCIAL) *a18. PORTOLA (15 LIVEWORK LOFTS UNITS) *e19. NORTH COAST TERRACE AFFORDABLE APTS. (32 UNITS) *c20. 724 N. 19ST. - STONE TERRACE - (4 UNITS) *c21. BENITO’S PIZZA *c22. BURGERIM *TI23. COOMBER FAMILY WINES TASTING ROOM *TI24. STEELE MILL COFFEE *TI

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M1 0

CURRENT DOWNTOWN DEVELOPMENTSDECEMBER 2018

Sale Comps

PROPERTY ADDRESS TYPE SALE DATE SALE PRICE BLDG SF $PSF (BLDG) LAND SF $/PSF (LAND) CAP RATE

1 102 N Coast Hwy Retail 2/28/18 $1,775,000 3,458 $513 10,018 $177 3.8%

2 212 N Clementine St Office 5/14/18 $1,730,000 2,100 $824 15,942 $109 -

3 203-205 Wisconsin Ave Retail 5/23/18 $1,200,000 2,262 $531 13,503 $89 -

4 509-511 Mission Ave Retail 10/31/18 $1,170,000 3,550 $330 4,791 $244 -

5 619 S Cleveland St Retail 4/24/18 $989,000 3,982 $248 4,835 $205 -

6 815 Civic Center Dr Office 10/18/18 $900,000 2,553 $353 4,791 $188 5.9%

7 606 Cassidy St Office 4/24/18 $857,000 2,315 $370 6,098 $141 4.5%

3

7

4

2

1

5

6

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M1 1

AFFILIATED BUSINESS DISCLOSURE CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

CONFIDENTIALITY AGREEMENTThis is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations.

Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

2 1 6 S . T R E M O N T S T R E E T O F F E R I N G M E M O R A N D U M1 2

216S . T R E M O N T S T R E E T

O C E A N S I D E , C A 9 2 0 5 4

O F F E R I N G M E M O R A N D U M

© 2018 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. PMStudio_December 2018

MARC FREDERICK

Vice President

Lic. 01429705

+1 619 787 7120

marc.frederick@cbre.com