Ball Road Basin - OCWD...Mar 24, 2017  · Aliso Viejo, CA 25.58 Acres 1,114,264 SF 2/29/2016...

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Ball Road Basin Market Overview March 24, 2017 Mike Hefner, SIOR Executive Vice President 714.935.2331 [email protected] Lic. #00857352 Mike Vernick, CCIM, SIOR Senior Vice President 714.935.2354 [email protected] Lic. #01420885

Transcript of Ball Road Basin - OCWD...Mar 24, 2017  · Aliso Viejo, CA 25.58 Acres 1,114,264 SF 2/29/2016...

Page 1: Ball Road Basin - OCWD...Mar 24, 2017  · Aliso Viejo, CA 25.58 Acres 1,114,264 SF 2/29/2016 $33,600,000 $30.15 PSF ... COMMERCIAL LAND SALE COMPARABLES COMMERCIAL LAND SALE COMPARABLES

Ball Road Basin Market Overview

March 24, 2017 Mike Hefner, SIOR Executive Vice [email protected]. #00857352

Mike Vernick, CCIM, SIOR Senior Vice [email protected]. #01420885

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TABLE OF CONTENTS

COMPARABLE TRANSACTIONS 3PROPERTY HIGHLIGHTS 12TEAM QUALIFICATIONS 16COMPANY INFORMATION 27

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COMPARABLE TRANSACTIONS

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

COMMERCIAL LAND SALE COMPARABLES

Voit Real Estate Services | The Hefner Vernick Team

AddressCity

Land AcreAcresSq. Ft.

Sale DateSale Price

Sale Price PSF

Property TypeZoning

SellerBuyerComments

Bayer Ave.-Douglas Park, Phase IILong Beach , CA

3.87 Acres168,577 SF

3/23/2017$5,148,792$30.54 PSF

Commercial • Sares-Regis Group• Matthew B. Kaufman

Hotel planned to be developed

10650 Los Alamitos Blvd.Los Alamitos, CA

2.25 Acres98,010 SF

1/14/2017$3,800,000$38.77 PSF

Commercial • TBD• TBD

1164 Park View Drive Covina, CA

3.47 Acres 151,153 SF

12/1/2016$2,850,000$18.86 PSF

Commercial • Century National Properties Inc. • Covina Park View LLC

Office use is only allowable use. Irregularily shaped parcel.

Tustin Ranch Road Tustin, CA

3.51 Acres 152,896 SF

11/17/2016$5,400,000$35.32 PSF

Commercial • 2C Tustin Legacy LLC • HealthSouth Corporation

Buyer plans to develop rehabilitation facility.

Liberty - Aliso Healthcare Park Aliso Viejo, CA

3.81 Acres 165,964 SF

11/16/2016$9,228,065$55.60 PSF

Commercial • CT Guardian 4 Liberty LLC • Kaiser Foundation Health Plan

Buyer to construct medical property and senior housing.

7113 Firestone Blvd. Buena Park, CA

4.0 Acres 174,240 SF

8/23/2016$3,700,000$21.24 PSF

Commercial • CV Buena Park 1A LLC • Premier Automotive Group

City will only allow automotive dealership uses.

1765 Laguna Canyon Road Laguna Beach, CA

3.72 Acres 162,043 SF

8/5/2016$3,200,000$19.75 PSF

Commercial • Bank of the West • Ganahl Lumber Company Inc.

Ground lease purchased by tenant.

COMMERCIAL LAND SALE COMPARABLES

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

COMMERCIAL LAND SALE COMPARABLES

Voit Real Estate Services | The Hefner Vernick Team

COMMERCIAL LAND SALE COMPARABLES

AddressCity

Land AcreAcresSq. Ft.

Sale DateSale Price

Sale Price PSF

Property TypeZoning

SellerBuyerComments

Edinger Ave. Tustin, CA

20.95 Acres 911,275 SF

8/4/2016$18,800,000$20.63 PSF

Commercial • City of Tustin• 1C Tustin Legacy, LLC

Half of site to be used for retail and the other half for healthcare uses.

17245 - 17475 E. Gale Ave. City of Industry, CA

5.38 Acres 234,353 SF

8/1/2016$5,500,000$23.48 PSF

Commercial • Successor Agency to Industry Urban-Development• Legacy City Center LLC

No plans yet for site. Buyer owned adjacent parcel.

900 Corporate Drive Pomona, CA

4.0 Acres 174,240 SF

4/6/2016$4,268,000$24.49 PSF

Commercial • Pomona Corporate Campus LLC • E Pomona 900 Corporate Drive R/E, Inc.

Proposed office development of 80,000 square feet.

LibertyAliso Viejo, CA

25.58 Acres 1,114,264 SF

2/29/2016$33,600,000$30.15 PSF

Commercial • US Postal Service • CT Realty

Buyer is developing part of land into medical mixed-use properties as a joint venture and is also selling off smaller parcels to other developers.

7905 Gateway Blvd.Irvine, CA

5.17 Acres210,961 SF

2/11/2016$9,202,000$43.62 PSF

Commercial • The Irvine Company • RD Olson

Hotel to be developed.

Scientific Way - Lot #556Irvine, CA

3.28 Acres 142,877 SF

1/8/2016$6,100,000$42.67 PSF

Commercial • M & G Properties on Scientific LLC • Effect Productions

Commercial office project.

Orangethorpe AvenueBuena Park, CA

1.62 Acres70,567 Sq.

Ft.

11/9/2015$2,120,000$30.04 PSF

LandCM

• Orange County Transportation Authority• Buena Park Nissan

Land to be used as a car dealership.

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

COMMERCIAL LAND SALE COMPARABLES COMMERCIAL LAND SALE COMPARABLES

Voit Real Estate Services | The Hefner Vernick Team

COMMERCIAL LAND SALE COMPARABLES

AddressCity

Land AcreAcresSq. Ft.

Sale DateSale Price

Sale Price PSF

Property TypeZoning

SellerBuyerComments

15092 BrookhurstWestminister, CA

5.59 Acres243,500 SF

9/11/2014$13,250,000$54.51 PSF

Commercial • Warne Family Foundation• IP Westminister, LLC

Major corner location, plans to build a hotel and mixed use retail center.

600 S. Prairie AvenueInglewood, CA

59.93 Acres2,610,551 SF

1/9/2014$101,000,000$38.69 PSF

Commercial • Walmart Stores, Inc.• The Kroenke Group

Community retail center is planned to be built on the site.

400 Duley RoadEl Segundo, CA

3.67 Acres159,865 SF

6/19/2013$5,800,000$36.28 PSF

Commercial • Regents of the University of California• 400 Duley Road Property, LLC

Raw land area.

1750 S. Douglass RoadAnaheim, CA

14.3 Acres622,908 SF

7/2012$32,500,000$52.17 PSF

CommercialGovernment

• Anaheim Regional Transportation Intermodal Center• Orange County Transportation Authority

Site of ARTIC center development.

3537 S. The City DriveOrange, CA

5.57 Acres242,709 SF

5/2012$7,400,000$30.49 PSF

Commercial (Office)

• Maguire Properties - City Tower II, LLC• PPF AMLI 3537 The City Way, LLC

Office Development Site.

AVERAGE 9.45 Acres $34.12 PSF

RANGE 1.62 - 59.93 Acres

$18.86 - $55.60 PSF

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

INDUSTRIAL LAND SALE COMPARABLES

Voit Real Estate Services | The Hefner Vernick Team

INDUSTRIAL LAND SALE COMPARABLES (M ID C IT IES / ORANGE COUNTY)

AddressCity

Land AcreAcresSq. Ft.

Sale DateSale Price

Sale Price PSF

Property TypeZoning

SellerBuyerComments

1265 Van Buren StreetAnaheim, CA

9.52 Acres414,691 SF

Pending$19,905,177$48.00 PSF*

Industrial • LBA Realty• Jellco Container• Owner-user plans to construct building.• *Jellco has an option to purchase in July 2017 at $48.00 PSF that they will exercise once building is completed.

Van Buren StreetAnaheim & Placentia, CA

10.0 Acres435,600 SF

1/1/2017$17,700,000$40.63 PSF

Industrial • The G&M Family Limited Partnership• CP Logistics Van Buren, LLC (Panatonni)

1401 N. Jefferson St.Anaheim, CA

4.90 Acres213,444 SF

12/1/2016$10,200,000$47.78 PSF

Industrial • Klein Investments Family Ltd. Partnership, LLC• EMC Associates • Leased investment

6300 Regio AvenueBuena Park, CA

16.52 Acres 719,611 SF

10/17/16$41,087,000$57.10 PSF

Industrial • Georgia-Pacific Corrugated LLC• 6300 Regio, LLC (99 Ranch Market) • Buyer intends to construct its own building.

534 W Struck Ave. Orange, CA

10.05 Acres437,778 SF

9/1/2016$16,795,000$38.36 PSF

Industrial • Classic Properties • Prologis

16503 Trojan WayLa Mirada, CA

22.67 Acres987,505 SF

8/30/2016$38,000,000$38.48 PSF

Industrial • Chevron Corporation• Duke Realty Corporation

1600 N Glassell St. Orange, CA

4.10 Acres 178,596 SF

7/29/2016$5,536,476$31.00 PSF

Industrial • Farmers & Merchants Bank of Long Beach • Simply Self Storage

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

INDUSTRIAL LAND SALE COMPARABLES

Voit Real Estate Services | The Hefner Vernick Team

INDUSTRIAL LAND SALE COMPARABLES (M ID C IT IES / ORANGE COUNTY)INDUSTRIAL LAND SALE COMPARABLES (M ID C IT IES / ORANGE COUNTY)

AddressCity

Land AcreAcresSq. Ft.

Sale DateSale Price

Sale Price PSF

Property TypeZoning

SellerBuyerComments

12801 Excelsior DriveSante Fe Springs, CA

76.06 Acres 3,313,053 SF

6/1/2016$135,835,173$41.00 PSF

Industrial • Albertsons • Goodman Birtcher• Site to be redeveloped

4300 Harbor Boulevard Fullerton, CA

30.0 Acres 1,306,800 SF

12/2015$42,726,068$32.69 PSF

Land • CV Fullerton1 Inv• Western Realco

4300 N. Harbor Boulevard Fullerton, CA

14.37 Acres 625,957 SF

10/2015$20,329,872 $32.47 PSF

Land • CV Fullerton1 Inv• Western Realco

4150 N. Palm StreetFullerton, CA

7.69 Acres343,171 SF

10/2015 $12,010,985$35.00 PSF

Industrial • LBA Realty• Western Realco

3925 & 3939 Coronado Street1265 Van Buren StreetAnaheim, CA

18.03 Acres871,200 SF

7/1/2015$29,805,000$34.21 PSF

Industrial • AT&T, Inc.• LBA Realty

3300 Birch StreetBrea, CA

9.8 Acres426,888 SF

3/31/2015$14,834,358$34.75 PSF

Industrial • Digital Realty Trust• Western Realco• Price was reduced $600,000 to offset potential vapor mitigation.

1225 Imperial Hwy.Brea, CA

16.87 Acres734,857 SF

2/11/2015$28,462,975$37.00 PSF

Industrial • Greenlaw Partners• ING Clarion Partners• Developer built 367,000 SF distribution building.

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

INDUSTRIAL LAND SALE COMPARABLES

Voit Real Estate Services | The Hefner Vernick Team

INDUSTRIAL LAND SALE COMPARABLES (M ID C IT IES / ORANGE COUNTY)INDUSTRIAL LAND SALE COMPARABLES (M ID C IT IES / ORANGE COUNTY)

AddressCity

Land AcreAcresSq. Ft.

Sale DateSale Price

Sale Price PSF

Property TypeZoning

SellerBuyerComments

AVERAGE 18.68 Acres $37.06 PSF

RANGE 4.10 - 76.06 Acres

$32.47 - $57.10 PSF

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

RESIDENTIAL / HIGH DENSITY LAND SALE COMPARABLES

Voit Real Estate Services | THE HEFNER VERNICK TEAM

AddressCity

Land AreaAcres

Square Feet

Sales DateSale Price

Sale Price PSF

TypeZoning

SellerBuyerComments

901 E. South St. Anaheim, CA

10.30 Acres 444,312 Sq. Ft.

2/8/2017$38,000,000$85.53 PSF

Land Residential

• TBD• Shopoff Realty Investments L.P.

S Kraemer Blvd. Lots 1 - 20 & A - GBrea, CA

9.10 Acres 396,396 Sq. Ft.

11/2016$20,003,000$50.46 PSF

LandResidential

• Birch/Kraemer LLC • Ryland Homes of California, Inc.

2025 N. Orange Blvd.Orange, CA

2.31 Acres100,576 Sq. Ft.

7/18/2016$5,000,000$49.71 PSF

LandResidential

• SRSC Properties, LLC• MBK Homes, LLC

2300 S. Lewis St. Anaheim, CA

5.55 Acres 241,758 Sq. Ft.

6/16/2016$14,698,886$60.80 PSF

LandResidential

• Ponderosa Anaheim Properties LLC • Olson Urban II-Anaheim 4 LLC

1116 N. Anaheim Blvd./125 W. La Palma Ave./1008 N. Anaheim Blvd. Anaheim, CA

4.10 / 1.40 / 0.70 Acres

178,596 / 60,984 30,492 Sq. Ft.

4/29/2016$9,000,000 / $4,320,000 / $1,800,000

$50.39 / $70.84 / $58.91 PSF

LandMixed Use

• 1110 Anaheim, LLC / J & JL LLC / Wheel Estate Partners, LLC • Integral CommunitiesBuyer Assembled Multiple Parcels

420 N. Magnolia AvenueAnaheim, CA

2.17 Acres94,525 Sq. Ft.

3/15/2016$4,437,465$46.94 PSF

LandCG

• Lugaro Enterprises, Inc.• Silveroak Development Corporation

200 N. Lemon StreetAnaheim, CA

4.30 Acres 187,308 Sq. Ft.

2/16/2016$15,200,000$81.15 PSF

LandMU

• Equity Residential• Trammell Crow Residential Company

RESIDENTIAL / H IGH DENSITY LAND SALE COMPARABLES

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

RESIDENTIAL / HIGH DENSITY LAND SALE COMPARABLES

Voit Real Estate Services | THE HEFNER VERNICK TEAM

AddressCity

Land AreaAcres

Square Feet

Sales DateSale Price

Sale Price PSF

TypeZoning

SellerBuyerComments

Anaheim Center2350 - 2394 W. Lincoln Ave.Anaheim, CA

6.98 Acres303,986 Sq. Ft.

2/9/2016$12,000,000$39.48 PSF

Land • Ruebsamen Family Trust • Western Avenue Capital

1790 E. Gene Autry WayAnaheim, CA

17.6 Acres766,656 Sq. Ft.

12/7/2015$42,250,000$55.11 PSF

Land Mixed Use/Multifamily

• Prologis• JPI / TDI

Douglass Commerce Center1725-1751 S. Douglass Rd.Anaheim, CA

3.2 Acres139,392 Sq. Ft.

9/14/2015$12,500,000$89.67 PSF

Land • Artic Commerce Center, LLC (Anaheim Ducks)• Douglass Commerce Center

1100 W. Town & Country Rd.Orange, CA

2.76 Acres120,226 Sq. Ft.

8/14/2015$8,000,000$66.54 PSF

Land • TBD• TBD

1148 N. Lemon StreetOrange, CA

1.4 Acres60,984 Sq. Ft.

7/30/2015$8,136,000

$133.41 PSF

LandM-1

• Max L. Hoskins• Orange Housing Development Corp.

The Experience @ Gene AutryNWC Orangewood & State College Blvd.Anaheim, CA

17.58 Acres 12/4/2014$28,400,000$52.16 PSF

Land • LNR Property, LLC• LT Commercial

AVERAGE 5.96 Acres $66.07 PSF

RANGE 1.4 - 17.6 Acres

$39.48 - $113.41 PSF

RESIDENTIAL / H IGH DENSITY LAND SALE COMPARABLES

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PROPERTY HIGHLIGHTS

Page 13: Ball Road Basin - OCWD...Mar 24, 2017  · Aliso Viejo, CA 25.58 Acres 1,114,264 SF 2/29/2016 $33,600,000 $30.15 PSF ... COMMERCIAL LAND SALE COMPARABLES COMMERCIAL LAND SALE COMPARABLES

Voit Real Estate Services | THE HEFNER VERNICK TEAM

COMPARABLE LAND SUMMARY AND VALUATION

Market Data Summary: Price Range Per Square Foot Average

Commercial Zoning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18.86 to $55.60 PSF . . . . . . . . . . . .$34.12 PSFIndustrial Zoning.................................................................................$32.47 to $57.10 PSF.........................$37.06 PSFResidential/High Density Use Zoning . . . . . . . . . . . . . . . . . . . . . . . $39.48 to $113.41 PSF . . . . . . . . . . . .$66.07 PSF

Property Details:Assessor Parcel Numbers: ............................................ 253-631-32, 253-473-01, 253-631-39Current Zoning: .............................................................. Industrial/Transitional Total Land Area: ............................................................. 846,371 SF (19.43 Acres) Area Net of Easement: .................................................. 742,688 SF (17.04 Acres) Easement Area: .............................................................. 103,683 SF (2.38 Acres) Anticipated Zoning ........................................................... Commercial General (CG)

Valuation Range:742,688 SF ..................................................................... $25,994,080 ($35.00 PSF) - $29,707,520 ($40.00 PSF)*103,683 SF (Easement Area) .......................................... $1,814,452 ($17.50 PSF) - $2,073,600 ($20.00 PSF) Total Value ..................................................................... $27,808,532 ($32.85 PSF) - $31,781,180 ($37.54 PSF)

*Assumes site is brought to grade, utilities delivered to site, and storm drain realignment are completed.

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

SITE AERIAL AND SURROUNDING USES

SITE

Commercially Zoned

Page 15: Ball Road Basin - OCWD...Mar 24, 2017  · Aliso Viejo, CA 25.58 Acres 1,114,264 SF 2/29/2016 $33,600,000 $30.15 PSF ... COMMERCIAL LAND SALE COMPARABLES COMMERCIAL LAND SALE COMPARABLES

Voit Real Estate Services | THE HEFNER VERNICK TEAM

PERMITTED USES WITHIN COMMERCIAL GENERAL ZONE

Mobile Home Parks *Automotive-Sales Agency Office (Retail)

*Business & Financial Ser-vices

*Educational Institutions - General

*Medical & Dental Offices

*Senior Citizens’ Housing *Automotive-Sales Agency Office (Wholesale)

*Commercial Retail Centers *Educational Institutions - Tutoring

*Offices

Alcoholic Beverage Manufacturing

Automotive-Public Parking *Community & Religious Assembly

*Entertainment Venue *Personal Services - General

Alcoholic Beverage Sales - Office-Sale

Automotive-Repair & Modification

*Convalescent & Rest Homes *Equipment Rental-Large Plant Nurseries

Alcoholic Beverage Sales - On-Sale

Automotive-Service Stations Convenience Stores Equipment Rental-Small *Public Services

Ambulance Services Automotive-Washing Dance & Fitness Studios-Large

*Group Care Facilities *Recreation-Billiards

Animal Boarding *Banquet Halls Dance & Fitness Studios - Small

*Hospitals *Recreation - Commercial Indoor

Animal Grooming Bars & Nightclubs Day Care Centers *Hotels & Motels Recreation - Commercial Outdoor

Antennas-Broadcasting Bed & Breakfast Inns Drive-Through Facilities *Markets - Large Recreation - Low-Impact

*Automotive-Vehicle Sales, Lease & Rental

*Boat & RV Sales *Educational Institutions - Business

Markets - Small Recreation - Swimming & Tennis

* Most Likely Uses

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TEAM QUALIFICATIONS

Page 17: Ball Road Basin - OCWD...Mar 24, 2017  · Aliso Viejo, CA 25.58 Acres 1,114,264 SF 2/29/2016 $33,600,000 $30.15 PSF ... COMMERCIAL LAND SALE COMPARABLES COMMERCIAL LAND SALE COMPARABLES

Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM QUALIFICATIONS

Career Highlights

Team Highlights:• One of Southern California’s Premier Commercial Brokerage Teams• Over 46 years of combined Commercial Real Estate Experience• Extensive Investment and User Sales Experience• Over $3.6 Billion in Sale and Lease Transactions• Over 1,600 Combined Sale and Lease Transactions• Over 35.5 Million Square Feet of Sale and Lease Transactions

Michael A. Hefner:• Top Producer Award, Voit – Southern California, 2008, 2014• Top Producer Award, Voit – Anaheim Office, 2007, 2008, 2014• Top Ten Producer Award, Voit – Company Wide, 1989 - 2012, 2014, 2015• Top Ten Producer Award, Voit – Anaheim Office, 1989 - 2012, 2013, 2014,

2015 and 2016• Real Estate Southern California’s Hot Broker List, 2001-2003, 2005-2010• SIOR – Largest Industrial Sale Transaction, 2007 • SIOR – Largest Investment Transaction, 2001, 2005, 2007• CoStar Power Broker Award – Industrial Leasing, 2007, 2009 - 2011,

2013, 2014• CoStar Power Broker Award – Industrial Sales, 2007-2011, 2014, 2015• Member, NAIOP (National Association of Industrial and Office

Professional) Member, Society of Industrial and Office Realtors (SIOR)

Mike Vernick:• 7.0 Million Square Feet Sold or Leased in Southern California• $469 Million in Sale and Lease Transactions• 13 Years of Commercial Real Estate Experience• Top Ten Producer Award, Voit - Anaheim Office, 2016, 2015, 2014, 2012,

2008• Thirty under 30 Award, Real Estate Southern California Magazine, 2009

Member, Society of Industrial and Office Realtors (SIOR) Member, Certified Commercial Investment Member (CCIM)

Why Hire a SIOR?

• Society of Industrial and Office Realtors (SIOR), the world’s leading industrial and office real estate brokerage association.

• 2,800 certified industrial and office brokers and agents worldwide have met stringent qualifications to earn the SIOR designation, certifying their expertise.

• Global coverage of 590 markets in 25 countries, many not covered by global firms/networks.

• Ongoing education ensures that SIORs remain on the cutting edge of industry, professional and technological practices.

• SIORs lease or sell 3.3 billion square feet with more than 83,500 transactions per year (32 transactions per member). SIORs are deal closers.

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM QUALIFICATIONS

Team Resumes

Michael A. Hefner, SIORExecutive Vice President

EMAIL: [email protected]: 714.935.2331FAX: 714.978.8328LIC. NO: 00857352

PROFESSIONAL EXPERIENCEMichael A. Hefner is presently in his thirty-forth (34rd) year in the real estate industry. Over the course of his career, Mike has developed an extensive list of clients including property owners, financial institutions, developers, investors and users. Mike provides his clients a comprehensive understanding of all aspects of real estate transactions including investment sale, build-to-suit, development sale and lease transactions. He is committed to providing his clients the highest level of professional service, and as a result has developed a long list of repeat and referral clientele. During his successful career, Mike has negotiated and completed in excess of 1,500 lease and sale transactions, totaling over 40 million square feet with a collective value of more than $2.9 billion.

EDUCATIONCalifornia State University FullertonBachelor of Arts, Finance1983, Honor Student

California State University FullertonMasters of Business Administration1987, Honor Student

PROFESSIONAL AFFILIATIONS• Society of Industrial and Office Realtor (Past President - 2004)• Association of Industrial Realtors• National Association of Industrial and Office Properties• California State University, Fullerton Alumni Association, Executive Board Member• Real Estate Land Use Institute Advisory Board – CSUF• Orangewood PALS, Board Member

AWARDS & ACCOMPLISHMENTS• Top Producer Award, Voit – Company Wide, 2008, 2014• Top Producer Award, Voit – Anaheim Office, 2007, 2008, 2014• Top Ten Producer Award, Voit – Company Wide, 1989, 1990, 1992-2010, 2014,

2015• Top Ten Producer Award, Voit – Anaheim Office, 1989-2012, 2014, 2015• Real Estate Southern California’s Hot Broker List, 2001-2003, 2005-2010• SIOR – Most Creative Transaction Award, 2008• SIOR – Largest Cooperative Transaction, 2002, 2003, 2005, 2008• SIOR – Largest Industrial Sale Transaction, 2007• SIOR – Largest Investment Transaction, 2001, 2005, 2007• CoStar Power Broker Award – Industrial Leasing, 2007, 2009, 2010, 2011, 2013,

2014• CoStar Power Broker Award – Industrial Sales, 2007-2011, 2013, 2014• Ranked by Real Estate Forum as a Top National Industrial Broker, 2014• Deal Maker of the Year, Kennedy Wilson Properties – 1998• Top Five Producer, Daum Commercial – Company Wide, 1986-1987

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM QUALIFICATIONS

Team Resumes

Mike Vernick, CCIM, SIORSenior Vice President

EMAIL: [email protected]: 714.935.2354FAX: 714.978.8328LIC. NO: 01420885

PROFESSIONAL EXPERIENCESince 2004, Michael C. Vernick has been involved in over 7 million square feet of industrial lease and sale transactions with an aggregate value in excess of $469 million. Michael’s diligent and professional work ethic drives his repeated success representing sellers, buyers, tenants and investors in the Orange and Los Angeles counties industrial markets. Michael was awarded the respected “Top Thirty Under 30” award in 2009, and has earned recognition with Voit Real Estate Services top producers on multiple occasions including a top ten qualification in 2008, 2012, 2014, 2015 and 2016 (Voit Anaheim).

EDUCATIONUniversity of Southern California May 2004 Marshall School of Business Real Estate Emphasis, Bachelor of Science Degree - Business

PROFESSIONAL AFFILIATIONS• Society of Industrial and Office Realtors (SIOR) - Board Member OC/IE Chapter• Certified Commercial Investment Member (CCIM)• Association of Industrial Realtors (AIR)• National Association of Industrial and Office Properties (NAIOP)• NAIOP Young Professionals Group (NAIOP YPG)• Corporate Facility Advisors (CORFAC International)

NOTABLE TRANSACTIONS• 17.68 Acres of Land Sold — 3199 E. La Palma, Anaheim $28,591,115

Represented Buyer• 208,432 Sq. Ft. Sold — 13827 Carmenita Road, Santa Fe Springs $19,309,176

Represented Seller• 112,146 Sq. Ft. Sold — 3255-3261 Miraloma, Anaheim $13,700,000

Represented Buyer• 200,646 Sq. Ft. Leased —1211 N. Miller St., Anaheim $7,181,392

Represented Lessor• 127,375 Sq. Ft. Leased — 679 S. Placentia Ave., Fullerton $3,287,000

Represented Lessor• 221,253 Sq. Ft. Sold — 25 Building Development, Fullerton $45,000,000

Represented Seller & 7 Buyers• 144,000 Sq. Ft. Leased — 3130-3150 Miraloma Ave., Anaheim $9,508,000

Represented Lessor• 4.9 Acres of Land Sold — 1401 N. Jefferson Ave., Anaheim $10,000,000

Represented Buyer• 127,375 Sq. Ft. Leased — 675 S. Placentia Ave., Fullerton $4,057,000

Represented Lessor

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM MAJOR TRANSACTIONS

Partial Summary of Major North Orange County Leased & Sale Transactions

4300 N. Harbor Blvd.Fullerton, CA922,735 Sq. Ft. $63,055,940Sold

3199 E. La Palma AvenueAnaheim, CA17.69 Acres of Land $28,399,475Sold

3454 Miraloma Street Anaheim, CA300,000 Sq. Ft. $4,630,500Leased

1515-1585 Manchester AvenueAnaheim, CA257,000 Sq. Ft. $48,500,000Sold

1211 Miller StreetAnaheim, CA200,646 Sq. Ft. $7,181,392Leased

1515 S. Manchester AvenueAnaheim, CA 166,868 SF $17,273,058Leased

3130-3150 E. Miraloma AvenueAnaheim, CA144,000 Sq. Ft. $8,621,210Leased

675 S. Placentia AvenueFullerton, CA 127,375 SF $4,057,507Leased

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM MAJOR TRANSACTIONS

679 S. Placentia AvenueFullerton, CA 127,375 SF $3,287,096Leased

1650 Kraemer AvenueAnaheim, CA122,600 Sq. Ft. $6,009,499Leased

800 Raymond AvenueFullerton, CA118,000 Sq. Ft. $6,903,000Sold

3255-3261 E. Miraloma AvenueAnaheim, CA 112,146 Sq. Ft. $13,600,000Sold

2891 E. Miraloma AvenueAnaheim, CA104,000 SF$6,353,157Leased

1880,1890 &1900 Betmor LaneAnaheim, CA81,000 Sq. Ft. $8,625,000Sold

378 E. Orangethorpe AvenuePlacentia, CA77,788 SF $5,925,000Sold

1177 N. Grove StreetAnaheim, CA 70,020 SF$2,489,441Leased

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM MAJOR TRANSACTIONS

1231 N. Miller Street Anaheim, CA64,219 Sq. Ft. $2,486,711Leased

3818 E. Coronado StreetAnaheim, CA62,820 SF$9,800,000Sold

1401 E. Orangethorpe AvenueFullerton, CA56,000 SF $1,626,840.00Leased

7100 Village DriveBuena Park, CA53,690 SF $1,717,006Leased

2419 E. Winston RoadAnaheim, CA46,000 SF $2,391,155Leased

1201 Miller StreetAnaheim, CA45,299 SF$1,967,471Leased

5464 E. La Palma AvenueAnaheim, CA 43,980 SF $4,332,030Sold

1400 Cerritos AvenueAnaheim, CA 42,240 Sq. Ft. $4,641,800Sold

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM MAJOR TRANSACTIONS

Crossroads AnaheimAnaheim, CA276,825 SF$28,500,000

The Odetics FacilityAnaheim, CA257,780 SF$22,600,000

West Palm Industrial ParkOrange, CA194,274 SF$8,850,000

Lambert Palm Business CenterLa Habra, CA185,154 SF$14,175,000

Fullerton Business Center WestFullerton, CA167,754 SF$16,975,000

Fullerton Business ParkFullerton, CA161,127 SF $10,800,000

Ball Road Business ParkAnaheim, CA115,352 SF$10,067,500

Antoyan Business ParkOrange, CA91,134 SF $12,000,000

A Better Way Business ParkGarden Grove, CA89,223 SF $5,950,000

Brea Central Business CenterBrea, CA84,000 SF $11,760,000

Coronado Simon Business ParkAnaheim, CA66,100 SF$9,065,000

Riverview Office BuildingAnaheim, CA57,245 SF$16,500,000

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM CASE STUDIES

Case Studies

Address 3199 E. La Palma Avenue, Anaheim

Description Buyer representation assignment.

Client OCWD (Orange County Water District)

Assignment Locate and negotiate the purchase of a large land site in Anaheim on behalf of the Orange County Water District for a water recharge basin.

Result The Team was able to identify an off-market purchase opportunity for approximately 17.7 acres of land on the old Boeing campus in Anaheim. The Team helped negotiate and navigate the OCWD through an immensely complicated lot adjustment process, storm drain realignment and numerous environmental challenges.

Address TIAA-CREF Anaheim Portfolio

Description Portfolio marketing assignment.

Client TIAA-CREF

Assignment Manage the leasing for the client's Anaheim portfolio consisting of eight (8) Class A industrial properties totaling 1,185,000 square feet.

Result The team has been able to consistently keep the portfolio at full occupancy with high quality tenants with minimal concessions and at premium lease rates, which exceeded the client's expectations.

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM CASE STUDIES

Case Studies

Address 4300 N. Harbor Blvd., Fullerton

Description Analyze the value of excess corporate real estate for a publicly traded medical device company.

Seller Beckman Coulter

Buyer Western Realco

Assignment Design and implement a marketing program for the disposition of 600,000 Sq. Ft. manufacturing of buildings on 44.1 acres of land all with significant pre-existing environmental contamination. The team also worked closely with the city of Fullerton to coordinate new entitlements that would be required for future redevelopment of the site.

Result Received fifteen offers to purchase from developers with a wide range of potential uses for the site. Ultimately the team identified an industrial developer and the site was acquired for the development of nearly 1,000,000 Sq. Ft. of new state-of-the-art distributions buildings.

Address 1111 Richfield Road, Anaheim

Description 357,192 Square Feet of Land Area

Lessor Orange County Water District

Lessee Dan Copp Crushing Corporation

Assignment Represent a repeat client, The Orange County Water District, in the renewal of a ground lease with their existing tenant, Dan Copp Crushing Corporation.

Result The Team negotiated a ten year lease extension on behalf of the Orange County Water District, which included a 200% increase in the initial base rent. The total value of the transaction was $9,827,474.

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

MARKETING TEAM CASE STUDIES

Case Studies

Address 1515 & 1585 S. Manchester Avenue, Anaheim

Description 229,916 Sq. Ft.

Seller 1515 S. Manchester, LLC and 1585 S. Manchester, LLC

Buyer Walt Disney Parks & Resorts

Assignment Negotiate the sale of two single tenant buildings comprised of an office building leased to the United States Department of Immigration and Naturalization Services and a corporate headquarter facility leased to Kavo Kerr, a division of a Fortune 150 company.

Result Identified a local property owner that was strategically acquiring property in the immediate vicinity for future expansion of their operations and achieved a premium sale price which included the Buyer paying all costs associated with the defeasance of the Seller’s loan. Total value of the transaction was $48,350,761.

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COMPANY INFORMATION

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

COMPANY INFORMATION

PRIVATE.

REGIONAL.

BROKER OWNED.

2 VOIT REAL ESTATE SERVICESCOMPANY OVERVIEW

About Voit

Voit Real Estate Services is a privately held, broker owned Southern California-based commercial real estate services firm that has been providing strategic property solutions for our clients since 1971. Throughout our 40+ year history, the firm has navigated multiple market cycles and been able to retain the unique company culture on which we were founded. Above all else, Voit is a client-centric real estate services firm. Our team members continuously work to strengthen relationships and every decision starts with our clients’ best interest in mind.

Voit at a GlanceOur success stems from our clients’ success. By working in close collaboration with our customers, our expertise has enabled us to deliver results that exceed our clients’ expectations.

Successes:• 64 million square feet developed, managed and acquired• $46.5 billion in brokerage transactions• 44,500+ brokerage deals• $1.4 billion in construction projects managed

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

COMPANY INFORMATION

Integrated Services Built for Success

The financial stakeholder’s position requires an integrated and timely execution of a value-added strategy. At Voit Real Estate Services, we assemble all the necessary resources to maximize value for our clients.

Brokerage ServicesAs one of Southern California’s leading commercial real estate brokerages, Voit offers clients the agility of an unparalleled platform coupled with the experience of a long history of success.

Construction Management & Project ManagementVoit has partnered with Valley Commercial Contractors to provide clients with expert advice to quickly analyze and determine the most economical, appropriate and practical solutions for your needs. Construction is on time and at the expected cost.

Property Management & ReceivershipVoit has aligned with RiverRock Real Estate Group as our preferred provider for property management services. RiverRock tailors asset and property management strategies for each client to achieve the results you want.

Property ValuationsVoit provides market information coupled with expert, objective knowledge for your asset(s) giving our clients the ability to make decisions best suited for your real estate goals.

Information Systems / ReportingVoit’s technological abilities allow us to provide clients with data, knowledge and forecasting on a timely and systematic basis. Voit’s clients are continuously informed of the status of their projects.

Market Data & ResearchVoit’s in-house research team equips our brokerage professionals with in-depth market data from more than 40 national and local third-party data vendors along with the proprietary data collected and shared among our team members.

Capital MarketsVoit has a full team of experts dedicated to capital markets. Whether it’s underwriting, forecasting, due diligence or other services, Voit has a team of experts ready to assist its clients.

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COMPANY INFORMATION

Core ServicesOur core brokerage services extend to institutional and private clients for sales and leasing in the following property types:

• Office• Industrial• R&D• Flex• Retail• Medical• Multi-Family• Land• REO Distressed Assets• Note Sales

At Voit, we provide a complete spectrum of commercial real estate brokerage services, including:

• Seller / Landlord Representation• Buyer / Tenant Representation• Investment Acquisitions / Dispositions• Built-to-Suit Services

Brokerage Services

Voit’s brokerage division was founded in 1987 and throughout the years, has achieved extraordinary results for our clients. In 2015, Voit Real Estate Services evolved into a broker owned firm, giving our professionals the opportunity to have a voice in their firm and in their careers. With our brokers taking an ownership stake in the firm, it ensures our resources are allocated most efficiently to serve the needs of our clients. There is no better lens into our clients’ businesses than our brokers and at Voit we are nimble enough to be able to react as the markets and our clients’ needs evolve.

Our brokerage professionals are a tightly integrated group of market leaders who work closely with each other and our clients to provide local market knowledge, real time data and exceptional service, helping our clients make carefully informed real estate decisions to maximize value.

As a Southern California-based organization, Voit brokers are true experts in their regions and leaders in the Southern California commercial real estate market. Our professionals know their markets, and they know them better than anyone.

Many of our team members are also Society of Industrial & Office Realtors (SIOR) designees and Certified Commercial Investment Members (CCIM). These affiliations along with our alliance with CORFAC International provide our professionals access to a wider geographic reach for clients that require assistance in other parts of the country and internationally.

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Voit Real Estate Services | THE HEFNER VERNICK TEAM

COMPANY INFORMATION

Locations & Corporate Summary

Markets Served

Southern California Other Markets

• Orange County• Los Angeles County• Riverside County• San Diego County• San Bernardino County

• National exposure through CORFAC Network

• International exposure through SIOR Network

Scope of Services

Brokerage Services Asset Services Construction & Development

• Seller / Landlord Representation• Buyer / Tenant Representation• Investment Acquisitions • Investment Dispositions• Built to Suits• Market Research• Lease Administration• Lease Auditing• Consulting

• Receivership• Asset Business Plan• Brokerage Services• Asset Management• Property Management• Construction• Property Condition

Assessment

• Acquisition• Adaptive-Reuse• Asset Management• Build-to-Suit• Entitlement• Fee Development• Master Planning• Project Management• Redevelopment• Speculative Development