ACCESS OFFERING MEMORANDUM IN DUE DILIGENCE TAB ABOVE THE OFFERING Cushman & Wakefield of California, Inc., as exclusive advisor, is pleased to offer for sale Chatsworth Business Park (the “Property), a lender-owned office and “flex” industrial business park totaling 231,770 square feet located in the San Fernando Valley of Los Angeles. The offering consists of a two-building campus with 655 surface parking spaces situated on 9 acres. Built in 1986, the Property is 71% leased to the County of Los Angeles (S&P credit rating AA+) on a long-term basis. The Property’s vacancy of 67,270-square feet is configured as a single, contiguous block of office/flex R&D space that was formerly occupied by Sanyo electronics. As a result of its foreclosure, Chatsworth Business Park has been an asset in transition and offers a compelling combination of investment-grade credit cash flow and significant potential to enhance value through leasing and strategic property enhancements. INVESTMENT HIGHLIGHTS Durable Cash Flow Secured by Investment-Grade Credit Tenant A tenant at the Property since 2000, the County of Los Angeles leases 71% of the Property through October 2023. Significant Potential to Enhance Value Lease-up of the Property’s vacant 67,270 square-foot “flex” office/industrial space is projected to increase NOI by $725,000 annually. Transit-Oriented Location Chatsworth Business Park is located two blocks to the Metro Orange Line Nordoff Station and three blocks to the Metrolink Chatsworth station. Institutional-Quality Office/Flex Business Park The offering is comprised of one, two-story office building containing 97,280 square feet (21415 Plummer) and one, two-story flex/R&D building (21605-21615 Plummer) containing 134,490 square feet. The two buildings are situated on separate assessor parcels allowing for an individual building sell-off as an exit strategy. Affluent Demographics Located in the heart of Los Angeles’ San Fernando Valley, Chatsworth is an affluent community with an average household income of $114,000. The Valley is home to over 2.1 million residents and more than 70,000 businesses. If it were a city, the Valley’s population would rank it as the 5th largest in the United States. Material Discount to Replacement Cost Ownership has elected to sell the Property through the online auction process in conjunction with Ten-X. The Property is anticipated to sell at auction at an estimated 50% of current replacement cost. Strong Base of Fortune 500 Tenants Major companies located in the immediate market include Amazon, 3M, Orbital ATK, AT&T, JPMorgan Chase, HealthNet, Aerojet Rocketdyne, Medtronic, Regal Medical Group, and Pharmavite. Chatsworth and Northridge command significant demand from some of the largest manufacturers and R&D companies in Southern California. PROPERTY TOURS Prospective purchasers are asked to contact Cushman & Wakefield to arrange specific times for property tours. This property will be auctioned on Monday, May 22 - Wednesday, May 24 . The price displayed is the starting bid amount of $20,500,000. For information and to register to bid on this property, please visit Ten-X.com.
