Hanna Ranch Marketing Proposal

MARKETING PROPOSAL TO SELL AND LEASE

5400 HANNA RANCH ROAD
NOVATO, CALIFORNIA

Presented to:

Paul Thompson
Thompson Builders Corporation

April 26, 2019

Presented by:

JerrySuyderhoud Senior Managing Director CARE Lic#00633998 415.526.7660 [email protected]

Key
Presentation
Principles

Market Partners in
Leader Development

Design

Best in Class
Marketing
Tools

-2-

The Property

01Property Summary/Market Overview
02Marketing Plan

Strategy
The Team

03Leadership/Support/Operations
04About Us

Newmark Knight Frank

05The Proposal

-3-

01

The
property

-4-

Property Summary – Novato Gateway

5400 Hanna Ranch Road, Novato, CA. Fronting both US 101 and State Hwy 37 (North east corner).
Approved for three commercial buildings, with two light industrial buildings available in whole or in part
for sale and/or lease.

Building A will be the home to Thompson Builders Corporation. Thompson Builders (owners of the
property) is currently breaking ground for its building.

Building B has been approved for 21,640 SF of office or light industrial use. Additionally, there is a
proposed condominium map for 6 units from 3,200 SF to 4,000 SF. There were to be 79 parking spaces;
however, this amount may be reduced to reflect access to roll up doors and less intensive light
industrial use.

Building C has been approved for 18,440 SF of office or light industrial use. Additionally, it there is a
proposed condominium map for 5 units from 3,480 SF to 4,000 SF. There were to be 67 parking spaces;
however, this amount may be reduced to reflect access to roll up doors and less intensive light
industrial use.

Buildings B and C are on approximately 3.33 Acres and will be delivered on a build to suit basis by the
developer, with concrete tilt up construction and approximately 21’ clear height.

-5-

Property Summary – Novato Gateway

The current APNs are 153-220-16 & 19 (to be subsequently adjusted). As part of the approval
process, the property was rezoned to Light Industrial Office (LIO) that include the following uses:

• Offices
• Handcraft industries, small-scale manufacturing
• Warehouses, wholesaling, and distribution
• Business Support Services
• Upholstery shops
• Equipment rental (interior only)
• Florists
• Fleet Vehicle Parking (use permit required)
• Minor Auto Repair and Maintenance (use permit required)
• Restaurant (use permit required)
• Auto Sales (use permit required)

-6-

5400 HANNARANCH ROAD
NOVATO, CALIFORNIA

-7-

Sale
comparables

Subject property
5400HannaRanch Road

Novato, California

-8-

1

Portfolio of 3 Service properties in San Rafael, CA, having total size of 32,988 SF, and for sale at $6,250,000 ($189.46/SF)

Portfolio Information

Sale Price: $6,250,000
Price/SF: $189.46
Cap Rate: 4.79%

Sale Conditions: -
Sale Type: Investment

RBA: 32,988 SF
Days On Market: 62

Sale Status: Under Contract

3 Properties in portfolio
Properties cannot be sold individually

Investment Notes

BECO CENTER CONSISTS OF 3 BUILDINGS ON 3 LEGAL PARCEL: 650, 654 & 658 IRWIN ST., SAN RAFAEL, CA. 650 IRWIN ST. IS
A METAL INDUSTRIAL BUILDING CURRENTLY OCCUPIED BY ITALICS TILE & STOBNE AND THE 5150 FOUNDATION. EACH
LEASE IS FOR 4,900 SQ. FT. +/- OF FLOOR SPACE. EACH SPACE HAS MEZZANINE SPACE. 654 IRWIN ST. IS A TILT UP
INDUSTRIAL BUILDING OR APPROX. 12,000 SQ. FT. OCCUPIED BY PLATT ELECTRIC AND NOWELL'S LIGHTING. EACH SPACE
IS 6,000 SQ. FT. +/-. 658 IRWIN ST. IS A FRAME BUILDING CURRENTLY BEING USED FOR AUTOMOTIVE REPAIRS.. ALL SPACES
EXCEPT 658 ARE ON MULTI YEAR LEASES. ALL LEASES CONTAIN ESCALATION'S FROM 2 TO 3% ANNUALLY. THE PROPERTY
HAS BEEN WELL MAINTAINED. GIVEN ITS LOCATION IT IS A PRIME CANDIDATE FOR FUTURE REDEVELOPMENT. RENTS ARE
ALL BELOW CURRENT MARKET. THE CENTER SITS ADJACENT TO BEST BUY ON THE SOUTH AND THE SHAMROCK CENTER
ON THE NORTH.

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Page 1

Page 1

2 285 Bel Marin Keys Blvd - Office/Industrial Condominiums, Unit M

Novato, CA 94949 - Novato/Ignacio/N Marin In Submarket
41,375 SF Class C R&D Condominium Built in 1999
Condominium for sale at $1,025,000 ($326.43/SF)

Condo Information

Sale Price: $1,025,000
Unit SF: 3,140 SF
Price/SF: $326.43

Cap Rate: -

Sale Status: Active
Days On Market: 21

Sale Type: Owner/User
Sale Conditions: -

Floor #: 1
Unit #: M

Investment Notes

Bel Marin Business Center at 285 Bel Marin Keys Blvd., Novato is a well designed corner office and warehouse condominium project
located in the Bel Marin Keys Business Park in southern Novato. This unit consists of approximately 1980 square feet of office space on 2
levels and 1160 square feet of warehouse space. The office space is an open floorplan with one private office, a private restroom and
abundant windows on 2 sides providing very good natural light. There are separate HVAC units for each level of the office space. The
warehouse has 20’ ceilings, a 14’ truck door and metal personnel entry door. Recently painted exterior and newer foam roof with an
association that is very well funded for reserves and very reasonable monthly association dues.

Bldg Type: R&D Building Information RBA: 3,140 SF
Bldg Status: Built 1999 % Leased: 100.0%
Rent/SF/mo: Withheld Stories: 2
Bldg Vacant: 0 SF Building 0.40 Zoning: AW, Novato
Warehouse Avail: 3,140 SF Owner Type: -
Office Avail: 0 SF CFAAMR: - Owner Occupied: No
Max Contig: 3,140 SF Land Area: 2.36 AC Lot Dimensions: -
Smallest Space: 3,140 SF
Ceiling Height: 20'0" Ownership: Condo
Column Spacing: - Crane: -
Loading Docks: None Tenancy: Multiple Tenant
Const Mat: - Cross Docks: -
Rail Spots: - Drive Ins: 1 tot./14'0"h
Rail Line: - Levelators: None
Sprinklers: Yes

Power: 200a 3p

Parcel Number: 157-780-01, 157-780-02, 157-780-03, 157-780-04, 157-780-05, 157-780-06, 157-780-07, 157-780-08, 157-780-09,
157-780-10, 157-780-11, 157-780-12, 157-780-13, 157-780-14, 157-780-15, 157-780-16, 157-780-17

Parking: 77 free Surface Spaces are available; Ratio of 1.86/1,000 SF

Copyrighted report licensed to Newmark Knight Frank - 741077. 4/22/2019
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3 42 Digital Dr - Novato Business Center, Unit 13

Novato, CA 94949 - Novato/Ignacio/N Marin In Submarket
30,654 SF Class B Warehouse Condominium Built in 1990
Condominium for sale at $850,000 ($298.25/SF)

Condo Information

Sale Price: $850,000
Unit SF: 2,850 SF
Price/SF: $298.25

Cap Rate: -

Sale Status: Active
Days On Market: 24

Sale Type: Owner/User
Sale Conditions: -

Floor #: 1
Unit #: 13

Investment Notes

• One Roll-up Door
• 18’ Clear Height • Office and Private Restroom
• Legal Loft Area
• Good Street Exposure
• Owner/User Opportunity

Building Information

Bldg Type: Warehouse Stories: 1 RBA: 2,850 SF
Bldg Status: Built 1990 Building 0.61 % Leased: 100.0%
Rent/SF/mo: Withheld
Bldg Vacant: 0 SF CFAAMR: - Zoning: PD Planned
Warehouse Avail: 2,850 SF Land Area: 1.15 AC Owner Type: DNoevelopment
Office Avail: 0 SF Smallest Space: 2,850 SF Owner Occupied: No
Max Contig: 2,850 SF Lot Dimensions: -

Ceiling Height: - Crane: None Ownership: Condo

Column Spacing: - Loading Docks: None Tenancy: Multiple Tenant
Cross Docks: -
Const Mat: Reinforced Concrete Drive Ins: 10 tot./7'0"w x 12'0"h
Levelators: None
Rail Spots: None Rail Line: None Sprinklers: -

Parcel Number: 157-501-45
Parking: 84 free Surface Spaces are available; Ratio of 2.74/1,000 SF

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4 8171 Redwood Blvd

Novato, CA 94945 - Novato/Ignacio/N Marin In Submarket
173,490 SF Class C Warehouse Building Built in 1965
Property is for sale at an undisclosed price

Investment Information

Sale Price: For Sale
Price/SF: -
Cap Rate: -

Sale Status: Under Contract
Sale Conditions: -

Sale Type: Investment OR Owner/User

Days On Market: 341

Investment Notes

Contact Broker Building Information RBA: 173,490 SF
% Leased: 0.0%
Bldg Type: Warehouse Stories: 1
Bldg Status: Built 1965 Building 0.04 Zoning: M-3, Marin
Rent/SF/mo: For Sale Owner Type: C- ounty
Bldg Vacant: 173,490 SF CFAAMR: - Owner Occupied: Yes
Warehouse Avail: 173,490 SF Land Area: 88.51 AC
Office Avail: 0 SF Smallest Space: 173,490 SF Tenancy: -
Max Contig: 173,490 SF Lot Dimensions: -
Crane: None
Ceiling Height: 24'0" Loading Docks: 12 ext (bldg. total) Cross Docks: -
Column Spacing: 60'w x 62'd Levelators: 12 ext
Drive Ins: 1 (total) Sprinklers: -
Const Mat: - Rail Line: None
Rail Spots: None

Power: 1600a/277-480v
Parcel Number: 125-180-83

Parking: 60 Covered Spaces are available; 225 Surface Spaces are available; Ratio of 0.93/1,000 SF

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5 26 Woodland Ave

San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket
4,777 SF Class C Service Building Built in 1953
Property is for sale at $995,000 ($208.29/SF)

Investment Information

Sale Price: $995,000
Price/SF: $208.29
Cap Rate: -

Sale Status: Under Contract
Sale Conditions: -

Sale Type: Owner/User

Days On Market: 782

Investment Notes

This single user industrial warehouse includes interior offices, two bathrooms and a legal mezzanine. Parking in front of the building.

This property is located on Woodland Avenue, close to Downtown San Rafael with easy access to Highway 101. Surrounding businesses
include Jackson Hardware and Office Depot.

Building Information

Bldg Type: Service Stories: 1 RBA: 4,777 SF
Bldg Status: Built 1953 Building 0.99 % Leased: 0.0%
Rent/SF/mo: For Sale
Bldg Vacant: 4,777 SF CFAAMR: - Zoning: I
Warehouse Avail: 4,777 SF Land Area: 0.11 AC Owner Type: No
Office Avail: 0 SF Smallest Space: 4,777 SF Owner Occupied: No
Max Contig: 4,777 SF
Tenancy: Single Tenant
Lot Dimensions: -

Ceiling Height: 16'0"-20'0" Crane: None Cross Docks: -
Column Spacing: - Loading Docks: None Levelators: None
Sprinklers: None
Const Mat: - Drive Ins: 1 tot./8'0"w x 10'0"h
Rail Spots: None Rail Line: None

Power: 400a
Features: Fenced Lot
Parcel Number: 013-162-20, 013-162-21

Parking: 4 Surface Spaces are available; Ratio of 0.83/1,000 SF

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Page 5

2 0 Redwood Blvd - San Marin Business Park

Novato, CA 94945 - Novato/Ignacio/N Marin Submarket
Land of 4.90 AC is for sale at $1,300,000 ($265,306.12/AC)

Investment Information

Sale Price: $1,300,000
Price/AC: $265,306.12

Sale Status: Active
Sale Conditions: -

Days On Market: 787

Investment Notes

San Marin Business Park provides a unique opportunity to develop freeway visible office improvements in a rapidly tightening Marin
County office market. San Marin Business Park is located within comfortable walking distance of the Novato San Marin/Atherton SMART
Rail station. As the first southbound stop in Marin County for the light rail service; scheduled to commence operations in 2016; the station
will be a valuable amenity for San Marin Business Park.

Located in the City of Novato Land Information Lot Dimensions: -

Zoning: PD Proposed Use: Commercial
Density: - Parcel Size: 4.90 AC
Number Of Lots: -
Improvements: - On-Site Improv: -

Parcel Number: 125-580-17

Copyrighted report licensed to Newmark Knight Frank - 741077. 4/22/2019
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3 8801 Redwood Blvd - San Marin Business Park

Novato, CA 94945 - Novato/Ignacio/N Marin Submarket
Land of 39 AC is for sale at $7,500,000 ($192,307.69/AC)

Investment Information

Sale Price: $7,500,000
Price/AC: $192,307.69

Sale Status: Active
Sale Conditions: -

Days On Market: 1,019

Investment Notes

San Marin Business Park provides a unique opportunity to develop freeway visible office improvements in a rapidly tightening Marin
County office market. San Marin Business Park is located within comfortable walking distance of the Novato San Marin/Atherton SMART
Rail station. As the first southbound stop in Marin County for the light rail service; scheduled to commence operations in 2016; the station
will be a valuable amenity for San Marin Business Park.

Located in the City of Novato Land Information Lot Dimensions: -

Zoning: BPO Proposed Use: -
Density: - Parcel Size: 39 AC
Number Of Lots: -
Improvements: - On-Site Improv: -

Parcel Number: 125-180-38, 125-580-17

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Page 3

4 700 Tamalpais Dr

Corte Madera, CA 94925 - Corte Madera/Mill Valley Submarket
Land of 0.36 AC is for sale at $3,350,000 ($9,431,306.31/AC)

Investment Information

Sale Price: $3,350,000
Price/AC: $9,431,306.31

Sale Status: Active
Sale Conditions: -

Days On Market: 256

Investment Notes

This property is currently a Union 76 Service station located in front of the ±440,000 square foot Town Center of Corte Madera. The Town
Center is a charming lifestyle center that combines conventional retail and retail service uses to serve its community. The center is
characterized by meandering pedestrian passageways connecting the buildings and is
highlighted by dramatic towers and outdoor plazas.

The complex features such popular retailers and restaurants as Barnes and Noble Booksellers, Crate & Barrel, The Container Store, REI,
Il Fornaio, Blue Barn, and World Wrapps.

Land Information

Zoning: C-2 Proposed Use: Retail, Office, Mixed Use, Bank, Medical
Density: -
Number Of Lots: - Parcel Size: 0.36 AC Lot Dimensions: -
Improvements: -
On-Site Improv: Finished lot

Parcel Number: 024-163-01

Topography: Level
Off-Site Improv: Cable, Curb/Gutter/Sidewalk, Electricity, Gas, Irrigation, Sewer, Streets, Telephone, Water

Copyrighted report licensed to Newmark Knight Frank - 741077. 4/22/2019
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Page 4

lease
comparables

Subject property
5400HannaRanch Road

Novato, California

-9-

Lease Comps Summary

Deals Asking Rent Per SF Starting Rent Per SF Lease Comps Report

35 $1.45 $1.34 Avg. Months On Market

LEASE COMPARABLES 9

SUMMARY STATISTICS Deals Low Average Median High

Rent 28 $1.05 $1.45 $1.50 $2.16
5 $1.10 $1.34 $1.30 $1.70
Asking Rent Per SF 3 $1.10 $1.24 $1.30 $1.35
Starting Rent Per SF 4 0.0% 2.1% 0.0% 8.3%
Effective Rent Per SF 1 $0.00 $0.00 $0.00 $0.00
Asking Rent Discount 2
TI Allowance 0 1 1 2
Months Free Rent Deals
Low Average Median High
Lease Attributes 31
35 1 9 4 72
Months on Market 13 2,523 5,338 4,300 11,000
Deal Size 35 24.0 36.0 36.0
Lease Deal in Months 60.0
Floor Number 1 1 1 2

Copyrighted report licensed to Newmark Knight Frank - 741077. 4/22/2019
Page 1

Lease Comps Summary

Lease Comps Report

Lease Rents
Rent
Property Name - Address Rating SF Leased Floor Sign Date Type Rent Type

1 Office/Industrial Condo… - 3,180 1st 2/25/2019 New $1.50/mg Asking
285 Bel Marin Keys Blvd - 2,709
- 6,458 1st 2/1/2019 Renewal $1.27/ig Starting
2 21 Pamaron Way - 3,200
3 83 Hamilton Dr - 3,520 1st 1/18/2019 New $1.10/nnn Asking
4 123-139 Carlos Dr - 3,000
5 39 Larkspur St - 8,290 1st 12/7/2018 New $1.40/ig Asking
6 115 Bellam Blvd - 3,300
7 1281 Andersen Dr - 2,809 1st 11/27/2018 New $1.50/mg Asking
8 32 Pamaron Way - 5,250
9 37 Commercial Blvd - 5,000 1st 11/8/2018 New $1.38/+util Asking
10 75 Digital Dr - 10,700
11 650 Irwin St - 5,000 1st 10/19/2018 New $1.65/ig Asking
12 47 Mark Dr - 2,544
13 174-182 Paul Dr - 3,681 1st 9/12/2018 New --
14 1925 Francisco Boulevar… - 5,500
- 3,330 1st 8/30/2018 New $1.30/ig Effective
1925 Francisco Blvd E - 7,226
15 8 Digital Dr - 10,790 1st 8/17/2018 New --
16 Warehouse & Office Space - 7,227
- 3,638 1st 8/15/2018 New $1.35/ig Effective
121 Jordan St - 3,200
17 3095 Kerner Blvd 1st 7/21/2018 New $1.40/ig Asking
7 1281 Andersen Dr
18 79 Mitchell Blvd 1st 7/10/2018 New $1.10/ig Effective
19 1249 E Francisco Blvd
20 San Francisco Business… 1st 7/1/2018 New $2.00/mg Asking

625 Du Bois St 1st 6/20/2018 New $1.50/ig Asking
1241 Andersen Dr
1st 6/8/2018 New $1.75/ig Asking

1st 5/21/2018 New $1.50/ig Asking

1st 5/8/2018 New $1.50/ig Asking

1st 5/8/2018 New $1.50/ig Asking

1st 4/4/2018 Renewal --

1st 3/12/2018 New $1.50/ig Asking

1st 3/9/2018 New $1.50/ig Asking
4/22/2019
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Page 2

Lease Comps Summary

Lease Comps Report

Lease Rents
Rent
Property Name - Address Rating SF Leased Floor Sign Date Type Rent Type
$1.50/ig
21 1241 Andersen Dr - 3,200 1st 3/9/2018 New Asking
- 4,300
22 Vineyard - 3,534 1st 2/13/2018 New $1.70/mg Starting
4324 Redwood Hwy - 3,456
- 8,410 1st 1/31/2018 Renewal - -
23 11 Commercial Blvd - 2,523
- 6,028 1st 1/16/2018 New $1.26/mg Asking
24 61-73 Paul Dr - 11,000
- 5,900 1st 1/12/2018 New $1.55/ig Asking
25 629 Lindaro St - 2,544
- 6,200 1st 1/11/2018 New $1.25/ig Asking
23 11 Commercial Blvd - 3,400
- 10,000 1st 12/21/2017 New - -
26 25 Leveroni Ct - 9,984
1st 11/5/2017 New $1.05/ig Asking
27 106 Galli Dr
1st 10/16/2017 New - -
7 1281 Andersen Dr
1st 10/16/2017 New $2.16/mg Asking
14 1925 Francisco Boulevar…
1925 Francisco Blvd E 2nd 10/11/2017 New $1.50/ig Asking

1 Office/Industrial Condo… 1st 7/2/2017 New $1.32/ig Asking
285 Bel Marin Keys Blvd
1st 7/1/2017 New $1.65/ig Asking
28 Bmw Marin
30 Castro Ave 2nd 4/20/2017 New $1.35/mg Asking

29 452 Du Bois St

30 32 Leveroni Ct

Copyrighted report licensed to Newmark Knight Frank - 741077. 4/22/2019
Page 3

Lease Comparables

1 3,180 SF Industrial Lease Signed Feb 2019 for $1.50 Modified Gross (Asking)
285 Bel Marin Keys Blvd - 1st Floor Direct, Leased by Ireland Interiors
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.50/MG Start Date: Mar 2019 Free Rent: Deal Type: New Lease Property Type: Flex Class C
Starting Rent: Term: Escalations: On Market: 2 Mos Building Area: 41,375 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1999/
Office Area: Dock/Drive In: Parking Ratio: 1.86/1,000 SF

Leasing Rep: Meridian Commercial - Angela Barker Landlord:
Tenant Rep: Tenant SIC:

Lease Notes:

ID# 163638511

2 2,709 SF Industrial Lease Signed Feb 2019 for $1.27 Industrial Gross (Starting)
21 Pamaron Way - Partial 1st Floor Direct, Leased by Minimoto International
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: Start Date: Feb 2019 Free Rent: Deal Type: Renewal Property Type: Flex Class C
Starting Rent: Term: Escalations: On Market: Building Area: 8,299 SF
Effective Rent: $1.27/IG Exp. Date: TI Allowance: Steps Build-Out: Built/Renov:
Office Area: Dock/Drive In: Parking Ratio:

Leasing Rep: HL Commercial Real Estate - Peter Gettner Landlord: Karen Levin
Tenant Rep:
Tenant SIC: Nonclassifiable Estab
Lease Notes:

ID# 162906311

3 6,458 SF Industrial Lease Signed Jan 2019 for $1.10 Triple Net (Asking)
83 Hamilton Dr - 1st Floor Direct
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.10/NNN Start Date: Mar 2019 Free Rent: Deal Type: New Lease Property Type: Flex Class B
Starting Rent: Term: Escalations: On Market: 2 Mos Building Area: 34,318 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Full Build-Out Built/Renov: 1995/
Office Area: Dock/Drive In: /1 Parking Ratio:

Leasing Rep: Lee & Associates Commercial Real Estate Service - Mark Rinkle Landlord: Burger Hamilton Partners
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 162119831

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Lease Comparables

4 3,200 SF Industrial Lease Signed Dec 2018 for $1.40 Industrial Gross (Asking)
123-139 Carlos Dr - 1st Floor Direct
San Rafael, CA 94903 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.40/IG Start Date: Jan 2019 Free Rent: Deal Type: New Lease Property Type: Flex Class C
Starting Rent: Escalations: On Market: 2 Mos Building Area: 24,079 SF
Effective Rent: Term: 2 Years TI Allowance: Build-Out: Built/Renov: 1965/
Office Area: Dock/Drive In: Parking Ratio: 0.62/1,000 SF
Exp. Date: Jan 2021

Leasing Rep: HL Commercial Real Estate - Peter Gettner Landlord: Mary Smtih Bowman
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 160630821

5 3,520 SF Industrial Lease Signed Nov 2018 for $1.50 Modified Gross (Asking)
39 Larkspur St - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.50/MG Start Date: Dec 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Escalations: On Market: 1 Mo Building Area: 16,423 SF
Effective Rent: Term: 2 Years TI Allowance: Build-Out: Full Build-Out Built/Renov: 1982/
Office Area: Dock/Drive In: Parking Ratio: 0.61/1,000 SF
Exp. Date: Dec 2020

Leasing Rep: HRH Real Estate Services - Renee Engelen, Julie Sommer Landlord: Universal Portfolio Ltd
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 160385841

6 3,000 SF Industrial Lease Signed Nov 2018 for $1.38 Plus All Utilities (Asking)
115 Bellam Blvd - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.38/+UTIL Start Date: Dec 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class C
Starting Rent: Term: Escalations: On Market: 1 Mo Building Area: 10,736 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1966/
Office Area: Dock/Drive In: Parking Ratio: 3.73/1,000 SF

Leasing Rep: Country Estates Inc - John Stallings Landlord: Gail Mosk
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 160119241

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Lease Comparables

7 8,290 SF Industrial Lease Signed Oct 2018 for $1.65 Industrial Gross (Asking)
1281 Andersen Dr - 1st Floor Direct, Leased by Lithos Energy
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.65/IG Start Date: Nov 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 2 Mos Building Area: 20,000 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1979/
Office Area: Dock/Drive In: Parking Ratio:

Leasing Rep: Keegan & Coppin - ONCOR International - Nathan Ballard, Theo Banks Landlord: Kretschmer Associates
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 159800571

8 3,300 SF Industrial Lease Signed Sep 2018
32 Pamaron Way - Partial 1st Floor Direct, Leased by George Family Enterprises Inc.
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: Start Date: Oct 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: Building Area: 13,397 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1978/
Office Area: Dock/Drive In: Parking Ratio: 1.12/1,000 SF

Leasing Rep: Landlord: Kruger & Company, Inc.
Tenant Rep:
Keegan & Coppin - ONCOR International - Sara Wann Tenant SIC: Plastics Products, Nec
Lease Notes:

ID# 162352411

9 2,809 SF Industrial Lease Signed Aug 2018 for $1.30 Industrial Gross (Effective)
37 Commercial Blvd - 1st Floor Direct, Leased by George Family Enterprises NorCal
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.30/IG Start Date: Sep 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class B
Starting Rent: $1.30/IG Escalations: On Market: 6 Mos Building Area: 18,000 SF
Effective Rent: $1.30/IG Term: 3 Years TI Allowance: Steps Build-Out: Built/Renov: 1976/
Office Area: Dock/Drive In: Parking Ratio: 0.22/1,000 SF
Exp. Date: Sep 2021

Leasing Rep: Landlord: Gladish Trust
Tenant Rep:
Keegan & Coppin - ONCOR International - Sara Wann Tenant SIC: Plastering, Drywall
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 158628931

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Lease Comparables

10 5,250 SF Industrial Lease Signed Aug 2018
75 Digital Dr - 1st Floor Direct
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: Start Date: Oct 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class B
Starting Rent: Term: Escalations: On Market: 12 Mos Building Area: 64,180 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1999/
Office Area: Dock/Drive In: No/2 Parking Ratio: 0.46/1,000 SF
Leasing Rep:
Tenant Rep: Landlord: Condiotti Enterprises Inc.
Lease Notes:
Tenant SIC:

ID# 158319151

11 5,000 SF Industrial Lease Signed Aug 2018 for $1.35 Industrial Gross (Effective)
650 Irwin St - 1st Floor Direct, Leased by 5150 FOUNDATION
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.35/IG Start Date: Sep 2018 Free Rent: 0 Mos Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: $1.35/IG Escalations: On Market: 1 Mo Building Area: 16,988 SF
Effective Rent: $1.35/IG Term: 4 Years TI Allowance: Build-Out: Built/Renov: 1956/
Office Area: Dock/Drive In: Parking Ratio: 1.61/1,000 SF
Exp. Date: Sep 2022

Leasing Rep: SVN: MG Property Advisors, Inc. - Gary Gustafson Landlord: Karen M Mason
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 158317761

12 10,700 SF Industrial Lease Signed Jul 2018 for $1.40 Industrial Gross (Asking)
47 Mark Dr - 1st Floor Sublease
San Rafael, CA 94903 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.40/IG Start Date: Oct 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 3 Mos Building Area: 10,700 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1974/
Office Area: Dock/Drive In: Parking Ratio:
2,700 SF

Leasing Rep: HL Commercial Real Estate - Peter Gettner Landlord: Fafoutis Aris
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 158343191

Page 7
Page 4

Lease Comparables

13 5,000 SF Industrial Lease Signed Jul 2018 for $1.10 Industrial Gross (Effective)
174-182 Paul Dr - 1st Floor Direct, Leased by RH Pulley Design
San Rafael, CA 94903 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.20/IG Start Date: Aug 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class C
Starting Rent: $1.10/IG Escalations: On Market: 2 Mos Building Area: 20,000 SF
Effective Rent: $1.10/IG Term: 3 Years TI Allowance: Build-Out: Built/Renov: 1968/
Office Area: Dock/Drive In: Parking Ratio:
Exp. Date: Jul 2021

Leasing Rep: Laura M Bertolli, Real Estate Broker - Laura Bertolli Landlord: Marin County Exchange Corpor…
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 157252041

14 2,544 SF Industrial Lease Signed Jul 2018 for $2.00 Modified Gross (Asking)
1925 Francisco Blvd E - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.70-$2.00/MG Start Date: Jul 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Escalations: On Market: 4 Mos Building Area: 25,670 SF
Effective Rent: Term: 3 Years TI Allowance: Build-Out: Built/Renov: 1981/
Office Area: Dock/Drive In: Parking Ratio: 1.17/1,000 SF
Exp. Date: Jun 2021

Leasing Rep: SVN - John Williams, Lynsey Kayser Landlord: Vesta Industries, Inc
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 157206201

15 3,681 SF Industrial Lease Signed Jun 2018 for $1.50 Industrial Gross (Asking)
8 Digital Dr - 1st Floor Direct
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.50/IG Start Date: Jul 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class B
Starting Rent: Escalations: On Market: 6 Mos Building Area: 27,665 SF
Effective Rent: Term: 2 Years TI Allowance: Build-Out: Built/Renov: 1985/
Office Area: Dock/Drive In: Parking Ratio: 3.00/1,000 SF
Exp. Date: Jul 2020

Leasing Rep: HL Commercial Real Estate - Peter Gettner Landlord: Charles B Goodman
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 156744261

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Lease Comparables

16 5,500 SF Industrial Lease Signed Jun 2018 for $1.75 Industrial Gross (Asking)
121 Jordan St - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.75/IG Start Date: Jul 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Escalations: On Market: 3 Mos Building Area: 5,500 SF
Effective Rent: Term: 2 Years TI Allowance: Build-Out: Built/Renov: 1971/
Office Area: Dock/Drive In: Parking Ratio: 0.73/1,000 SF
Exp. Date: Jul 2020

Leasing Rep: HL Commercial Real Estate - John Monte Landlord: Curtis C. & Anooshik M. Cronin…
Tenant Rep: HL Commercial Real Estate - Peter Gettner
Tenant SIC:
Lease Notes:

ID# 156491031

17 3,330 SF Industrial Lease Signed May 2018 for $1.50 Industrial Gross (Asking)
3095 Kerner Blvd - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.50/IG Start Date: May 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Escalations: On Market: 3 Mos Building Area: 35,580 SF
Effective Rent: Term: 3 Years TI Allowance: Build-Out: Built/Renov: 1976/
Office Area: Dock/Drive In: /2 Parking Ratio: 0.11/1,000 SF
Exp. Date: May 2021

Leasing Rep: CRC Partners - Carol M. Chapman Landlord: Magaline Todd V
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 156176211

18 7,226 SF Industrial Lease Signed May 2018 for $1.50 Industrial Gross (Asking)
1281 Andersen Dr - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.50/IG Start Date: Jun 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 7 Mos Building Area: 20,000 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1979/
Office Area: Dock/Drive In: Parking Ratio:

Leasing Rep: Keegan & Coppin - ONCOR International - Nathan Ballard, Theo Banks Landlord: Kretschmer Associates
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 155797151

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Lease Comparables

19 10,790 SF Industrial Lease Signed May 2018 for $1.50 Industrial Gross (Asking)
79 Mitchell Blvd - 1st Floor Direct
San Rafael, CA 94903 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.50/IG Start Date: Jun 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Escalations: On Market: 5 Mos Building Area: 10,790 SF
Effective Rent: Term: 2 Years TI Allowance: Build-Out: Built/Renov: 1978/
Office Area: Dock/Drive In: /3 Parking Ratio: 1.39/1,000 SF
Exp. Date: Jun 2020

Leasing Rep: Zacharin Company - Linda Zacharin Landlord: Marcia Jervis
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 155788671

20 7,227 SF Industrial Lease Signed Apr 2018
1249 E Francisco Blvd - 1st Floor, Leased by Consolidated Electric Distributors (CED)
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: Start Date: Apr 2018 Free Rent: Deal Type: Renewal Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 12 Mos Building Area: 7,277 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1975/
Office Area: Dock/Drive In: Parking Ratio: 1.37/1,000 SF

Leasing Rep: HL Commercial Real Estate - Peter Gettner Landlord: Tanner Berta Tr
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 161479581

21 3,638 SF Industrial Lease Signed Mar 2018 for $1.50 Industrial Gross (Asking)
625 Du Bois St - 1st Floor Sublease
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.50/IG Start Date: Apr 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class B
Starting Rent: Term: Escalations: On Market: 7 Mos Building Area: 25,089 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1986/
Office Area: Dock/Drive In: /1 Parking Ratio:
638 SF

Leasing Rep: Newmark Knight Frank - Haden Ongaro, Mark Carrington, Alisa Belew Landlord: Monica Kortz
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 153617711

Page 10
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Lease Comparables

22 3,200 SF Industrial Lease Signed Mar 2018 for $1.50 Industrial Gross (Asking)
1241 Andersen Dr - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.50/IG Start Date: Mar 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class C
Starting Rent: Term: Escalations: On Market: 5 Mos Building Area: 46,423 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1979/
Office Area: Dock/Drive In: Parking Ratio: 1.29/1,000 SF
1,600 SF

Leasing Rep: HL Commercial Real Estate - Peter Gettner Landlord: A & J Real Estate Lllp
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 152880631

23 4,300 SF Industrial Lease Signed Feb 2018 for $1.70 Modified Gross (Starting)
4324 Redwood Hwy - 1st Floor Direct
San Rafael, CA 94903 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.70/MG Start Date: Mar 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class B
Starting Rent: $1.70/MG Escalations: On Market: 3 Mos Building Area: 8,448 SF
Effective Rent: Term: 5 Years TI Allowance: Build-Out: Built/Renov: 2005/
Office Area: Dock/Drive In: Parking Ratio:
Exp. Date:

484 SF

Leasing Rep: Ed Schwartz & Ruth Rosenthal - Oded Schwartz Landlord: Ed Schwartz & Ruth Rosenthal
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 146448521

24 3,534 SF Industrial Lease Signed Jan 2018
11 Commercial Blvd - Partial 1st Floor Direct, Leased by Profit Line Distributing
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: Start Date: Jan 2018 Free Rent: Deal Type: Renewal Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: Building Area: 12,049 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1977/
Office Area: Dock/Drive In: Parking Ratio: 1.00/1,000 SF

Leasing Rep: Keegan & Coppin - ONCOR International - Nathan Ballard, Theo Banks Landlord: Commercial Blvd
Tenant Rep:
Tenant SIC: Durable Goods, Nec
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 164459701

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Page 8

Lease Comparables

25 3,456 SF Industrial Lease Signed Jan 2018 for $1.26 Modified Gross (Asking)
61-73 Paul Dr - 1st Floor Direct
San Rafael, CA 94903 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.25-$1.26/MG Start Date: Feb 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class C
Starting Rent: Term: Escalations: On Market: 5 Mos Building Area: 25,821 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1966/
Office Area: Dock/Drive In: Parking Ratio: 2.56/1,000 SF

Leasing Rep: Financial Concepts - Joseph Murphy Landlord: Dionisio O & Patricia J Rossi
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 139645601

26 8,410 SF Industrial Lease Signed Jan 2018 for $1.55 Industrial Gross (Asking)
629 Lindaro St - 1st Floor Direct, Leased by The Tail Haven
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.55/IG Start Date: May 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 11 Mos Building Area: 8,410 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1952/
Office Area: Dock/Drive In: /2 Parking Ratio:

Leasing Rep: Bradley Real Estate - Bill L. Hart Landlord: Sally Garbarino
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 138921761

27 2,523 SF Industrial Lease Signed Jan 2018 for $1.25 Industrial Gross (Asking)
11 Commercial Blvd - 1st Floor Direct
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.25/IG Start Date: Feb 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 8 Mos Building Area: 12,049 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1977/
Office Area: Dock/Drive In: Parking Ratio: 1.00/1,000 SF

Leasing Rep: Keegan & Coppin - ONCOR International - Theo Banks, Nathan Ballard Landlord: Commercial Blvd
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 138672631

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Lease Comparables

28 6,028 SF Industrial Lease Signed Dec 2017
25 Leveroni Ct - Partial 1st Floor, Leased by Smith & Fong Company
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: Start Date: Jan 2018 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: Building Area: 22,433 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov:
Office Area: Dock/Drive In: Parking Ratio: 2.72/1,000 SF

Leasing Rep: Cushman & Wakefield - Steven B. Leonard, Brian Foster Landlord: Bayview Ignacio Llc
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 150133691

29 11,000 SF Industrial Lease Signed Nov 2017 for $1.05 Industrial Gross (Asking)
106 Galli Dr - 1st Floor Sublease
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.05/IG Start Date: Dec 2017 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 2 Mos Building Area: 11,000 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1977/
Office Area: Dock/Drive In: Parking Ratio:

Leasing Rep: Meridian Commercial - Samuel Ko Landlord: Kobel 1982 Living Trust
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 133286241

30 5,900 SF Industrial Lease Signed Oct 2017
1281 Andersen Dr - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: Start Date: Nov 2017 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 3 Mos Building Area: 20,000 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1979/
Office Area: Dock/Drive In: Parking Ratio:

Leasing Rep: Keegan & Coppin - ONCOR International - Nathan Ballard Landlord: Kretschmer Associates
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 132796871

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Page 10

Lease Comparables

31 2,544 SF Industrial Lease Signed Oct 2017 for $2.16 Modified Gross (Asking)
1925 Francisco Blvd E - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $2.16/MG Start Date: Nov 2017 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Term: Escalations: On Market: 17 Mos Building Area: 25,670 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Partial Build… Built/Renov: 1981/
Office Area: Dock/Drive In: /1 Parking Ratio: 1.17/1,000 SF

Leasing Rep: SVN - John Williams, Lynsey Kayser Landlord: Vesta Industries, Inc
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 132801391

32 6,200 SF Industrial Lease Signed Oct 2017 for $1.50 Industrial Gross (Asking)
285 Bel Marin Keys Blvd - 2nd Floor Direct, Leased by Novo Construction
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.50/IG Start Date: Feb 2018 Free Rent: Deal Type: New Lease Property Type: Flex Class C
Starting Rent: Term: Escalations: On Market: 10 Mos Building Area: 41,375 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Built/Renov: 1999/
Office Area: Dock/Drive In: Parking Ratio: 1.86/1,000 SF

Leasing Rep: Cushman & Wakefield - Steven B. Leonard, Brian Foster Landlord:
Tenant Rep: Tenant SIC:

Lease Notes:

ID# 137969831

33 3,400 SF Industrial Lease Signed Jul 2017 for $1.32 Industrial Gross (Asking)
30 Castro Ave - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.32/IG Start Date: Aug 2017 Free Rent: Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Escalations: On Market: 67 Mos Building Area: 9,453 SF
Effective Rent: Term: 3 Years TI Allowance: Build-Out: Built/Renov: 1978/
Office Area: Dock/Drive In: No/2 Parking Ratio: 4.12/1,000 SF
Exp. Date:

Leasing Rep: HL Commercial Real Estate - John Wright Landlord: 30 Riverton Holdings LLC
Tenant Rep:
Tenant SIC:
Lease Notes:

Copyrighted report licensed to Newmark Knight Frank - 741077. ID# 131806051

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Lease Comparables

34 10,000 SF Industrial Lease Signed Jul 2017 for $1.65 Industrial Gross (Asking)
452 Du Bois St - 1st Floor Direct
San Rafael, CA 94901 - San Rafael/Larkspur Ind Submarket

Asking Rent: $1.65/IG Start Date: Jul 2017 Free Rent: 2 Mos at Start Deal Type: New Lease Property Type: Industrial Class C
Starting Rent: Escalations: On Market: 5 Mos Building Area: 10,000 SF
Effective Rent: Term: 5 Years TI Allowance: Build-Out: Built/Renov: 1967/
Office Area: Dock/Drive In: Parking Ratio: 2.00/1,000 SF
Exp. Date: Jun 2022

Leasing Rep: Newmark Knight Frank - Jeff Traynor Landlord: D.R. Stephens & Company
Tenant Rep: CBRE - Michael J. Walker
Tenant SIC:
Lease Notes:

ID# 131750611

35 9,984 SF Industrial Lease Signed Apr 2017 for $1.35 Modified Gross (Asking)
32 Leveroni Ct - 2nd Floor Direct
Novato, CA 94949 - Novato/Ignacio/N Marin Ind Submarket

Asking Rent: $1.35/MG Start Date: Jun 2017 Free Rent: Deal Type: New Lease Property Type: Industrial Class B
Starting Rent: Term: Escalations: On Market: 22 Mos Building Area: 20,000 SF
Effective Rent: Exp. Date: TI Allowance: Build-Out: Full Build-Out Built/Renov: 1985/
Office Area: Dock/Drive In: No/1 Parking Ratio: 1.99/1,000 SF
3,559 SF

Leasing Rep: Landlord: George Family Enterprises No…
Tenant Rep:
Tenant SIC:
Lease Notes:

ID# 129641801

Copyrighted report licensed to Newmark Knight Frank - 741077. Page 15
Page 12

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 8 Digital Drive
Major Use: Industrial
Subuse: Warehouse Unit Desc: 100
Rumor: Yes Floor Number: 0
Current Comp: Yes City: Novato
State: CA
County: Marin Zip: 94949
Country: U.S.A.
MSA: 7360

Size & Rent Property Information Comments & Agent Information

Rentable SF: 3,681 Market Area: Revision Date: 10/5/2018 Commencement Date: 7/1/2018
Useable SF: 3,681 Region:
Site Size: 0 Acres Zone: 105 Add Date: 10/5/2018 Lease Expiration Date: 6/30/2021
Base Rate: $1.45/SF APN: Novato
Effective Rent: $0.00/SF Zoning: 157-421-03 Date Signed: 6/21/2018 Lease Term: 36 mos
Lease Type: Full Service Space Type: PD
Free Rent: Load Factor: Previously Occupied Days on Market: 0 Comparable Source: RMS-180618
Expense Stop: $0.00 0.00
New TI Amount$: No Parking Ratio: 3.0/1000 Owner: The Goodman, Charles & Barbara 1992 Revocable Trust
Old TI Amount$: No Wet Lab: ,No
NNN Cost: No Clean Room: ,No Tenant: Haddon Heating & Cooling
Sublease: W226846 Office SF: 0
Renewal: Landlord Agency... Tenant Agency...
Expansion:
HL Commercial Real Estate This company is no longer in Rolodex
Comp #: 4304 Redwood Highway
San Rafael

Peter Gettner
(415) 446-4210

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 1
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail Comparable Type: Lease 8 Digital Drive
Major Use: Industrial
Prepared For: Suyderhoud Subuse: Warehouse Unit Desc: 100
Prepared By: DiMatteo Rumor: Yes Floor Number: 0
Current Comp: Yes City: Novato
Comments State: CA
General Comments... County: Marin Zip: 94949
Country: U.S.A.
MSA: 7360

Rental Adjustments...

Options Notes... Assessment Notes...

Financing Notes...

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 2
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 106 Galli Drive
Major Use: Industrial
Subuse: Warehouse Unit Desc: 1
Rumor: No Floor Number: Novato
Current Comp: Yes City: CA
State: Marin
County: U.S.A. Zip: 94949
Country: 7360
MSA:

Size & Rent Property Information Comments & Agent Information

Rentable SF: 11,000 Market Area: Revision Date: 11/27/2017 Commencement Date: 11/1/2017
Useable SF: 11,000 Region:
Site Size: 0 Acres Zone: 105 Add Date: 11/27/2017 Lease Expiration Date: 10/31/2019
Base Rate: $1.05/SF APN: Novato
Effective Rent: $1.07/SF Zoning: 157-461-07 Date Signed: 10/24/2017 Lease Term: 24 mos
Lease Type: Ind Gross Space Type: PD
Free Rent: No Load Factor: Previously Occupied Days on Market: 0 Comparable Source: RMS-160020
Expense Stop: 0.00
New TI Amount$: As Is Parking Ratio: Owner: Cox, Hermann & Karsh
Old TI Amount$: Wet Lab: ,No
NNN Cost: $0.00 Clean Room: ,No Tenant: Thompson Builders Corporation
Sublease: No Office SF: 1000
Renewal: No Landlord Agency... Tenant Agency...
Expansion: No
W214195 Meridian Commercial Newmark Knight Frank-MAR
Comp #: 68 Mitchell Blvd 1101 Fifth Avenue
San Rafael San Rafael

Samuel Ko Jerry Suyderhoud
(415) 451-4900 (415) 526-7660

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 3
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 106 Galli Drive
Major Use: Industrial
Subuse: Warehouse Unit Desc: 1
Rumor: No Floor Number: Novato
Current Comp: Yes City: CA
State: Marin
County: U.S.A. Zip: 94949
Country: 7360
MSA:

Comments

General Comments... Rental Adjustments...
11/1/17: $1.05; 11/1/18: $1.08
2-year as-is deal with no free rent and a 3% increase in year two. Tenant is a general
contractor. Subject property is comprised of 10,000 SF of warehouse with 1,000 SF of
office space with an adjoining fenced yard of approximately 7,500 SF. Space was brought
to market 9/18/17 asking $1.05/SF, industrial gross.

Options Notes... Assessment Notes...

Financing Notes...

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 4
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 452 Du Bois Street
Major Use: Industrial
Subuse: Warehouse Unit Desc: 1
Rumor: No Floor Number: San Rafael
Current Comp: Yes City: CA
State: Marin
County: U.S.A. Zip: 94901
Country: 7360
MSA:

Size & Rent Property Information Comments & Agent Information

Rentable SF: 10,000 Market Area: Revision Date: 8/29/2017 Commencement Date: 8/1/2017
Useable SF: 10,000 Region:
Site Size: 3 Acres Zone: 108A Add Date: 8/14/2017 Lease Expiration Date: 9/30/2022
Base Rate: $1.65/SF APN: San Rafael-Central
Effective Rent: $1.70/SF Zoning: 013-051-32 Date Signed: 7/20/2017 Lease Term: 62 mos
Lease Type: Ind Gross Space Type: I
Free Rent: 2 mos Load Factor: Previously Occupied Days on Market: 838 Comparable Source: RMS-154111
Expense Stop: 0.00
New TI Amount$: $4 Parking Ratio: 2.30/1000 Owner: D.R. Stephens Industrial Partners, LLC
Old TI Amount$: Wet Lab: ,No
NNN Cost: $0.00 Clean Room: ,No Tenant: Bimbo Bakeries USA, Inc.
Sublease: No Office SF: 224
Renewal: No Landlord Agency... Tenant Agency...
Expansion: No
W210214 Newmark Knight Frank-MAR CBRE Group Inc.
Comp #: 1101 Fifth Avenue 1111 Broadway
San Rafael Oakland

Jeff Traynor Michael Walker
(415) 526-7661 (510) 874-1979

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 5
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 452 Du Bois Street
Major Use: Industrial
Subuse: Warehouse Unit Desc: 1
Rumor: No Floor Number: San Rafael
Current Comp: Yes City: CA
State: Marin
County: U.S.A. Zip: 94901
Country: 7360
MSA:

Comments Rental Adjustments...
8/1/17: $0.00; 10/1/17: $1.65; 10/1/18: $1.70; 10/1/19: $1.75; 10/1/20: $1.80; 10/1/21: $1.86
General Comments...

5-year term with 2-months of additional free rent to start the term. 3% annual increases
and a TI allowance of up to $4/SF. Space is comprised of a clean, metal 100' x 100'
warehouse with three 12' x 14' roll-up doors and clear height of 14'-22'. Space includes a
14'x16' office/showroom. 220v power throughout. 23 on-site parking spaces.

Options Notes... Assessment Notes...

Originally a sublease listing added 4/30/15(?) with an available date of 10/1/15. Asking
price was $1.55/SF, industrial gross. Sublessor was Hines, Duane M. dba Sausalito
Classic Car Storage. Price increased to $1.65/SF and offered direct 3/29/17.

Financing Notes...

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 6
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 625 Du Bois Street
Major Use: Industrial
Subuse: Warehouse Francisco Business Center
Rumor: Yes
Current Comp: Yes Unit Desc: B

Floor Number: 1

City: San Rafael

State: CA Zip: 94901

County: Marin

Country: U.S.A.

MSA: 7360

Size & Rent Property Information Comments & Agent Information

Rentable SF: 3,638 Market Area: Revision Date: 7/23/2018 Commencement Date: 00/00/00
Useable SF: 3,638 Region:
Site Size: 3 Acres Zone: 108A Add Date: 3/12/2018 Lease Expiration Date: 00/00/00
Base Rate: $0.00/SF APN: San Rafael-Central
Effective Rent: $0.00/SF Zoning: 013-042-05 Date Signed: 3/9/2018 Lease Term:
Lease Type: Gross Space Type: PD
Free Rent: Load Factor: Previously Occupied Days on Market: 209 Comparable Source: RMS-
Expense Stop: $0.00 0.00
New TI Amount$: Yes Parking Ratio: Sublessor: Osso Good, LLC
Old TI Amount$: No Wet Lab: ,No
NNN Cost: No Clean Room: ,No Owner: Francisco Business Center
Sublease: W218019 Office SF: 638
Renewal: Tenant: Parkers Pet Provisions, Inc.
Expansion:
Landlord Agency... Tenant Agency...
Comp #:
Newmark Knight Frank-MAR This company is no longer in Rolodex
1101 Fifth Avenue
San Rafael

Haden Ongaro
(415) 526-7649

Mark Carrington
(415) 526-7650

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 7
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 625 Du Bois Street
Major Use: Industrial
Subuse: Warehouse Francisco Business Center
Rumor: Yes
Current Comp: Yes Unit Desc: B

Floor Number: 1

City: San Rafael

State: CA Zip: 94901

County: Marin

Country: U.S.A.

MSA: 7360

Comments Rental Adjustments...

General Comments...
Brought to market 8/11/17 asking $1.39/SF, gross. Price was increased on 8/16/17 to
$1.50/SF. Price lowered to $1.39/SF on 9/6/17. Sublease with term through 5/31/18.

Options Notes... Assessment Notes...

Financing Notes...

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 8
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 580 Irwin Street
Major Use: Industrial
Subuse: Warehouse Unit Desc: 7
Rumor: No Floor Number: 1
Current Comp: Yes City: San Rafael
State: CA
County: Marin Zip: 94901
Country: U.S.A.
MSA: 7360

Size & Rent Property Information Comments & Agent Information

Rentable SF: 2,800 Market Area: Revision Date: 5/30/2017 Commencement Date: 4/16/2017
Useable SF: 2,800 Region:
Site Size: 0 Acres Zone: 108A Add Date: 4/13/2017 Lease Expiration Date: 4/15/2019
Base Rate: $1.25/SF APN: San Rafael-Central
Effective Rent: $1.27/SF Zoning: 013-081-44 Date Signed: 3/29/2017 Lease Term: 24 mos
Lease Type: Gross Space Type: I
Free Rent: No Load Factor: Previously Occupied Days on Market: 31 Comparable Source: RMS-148004
Expense Stop: 0.00
New TI Amount$: As Is Parking Ratio: 1.43/1000 Owner: Iolas, Shirley C. Trust
Old TI Amount$: Wet Lab: ,No
NNN Cost: $0.00 Clean Room: ,No Tenant: SpotOn Processing, LLC
Sublease: No Office SF: 0
Renewal: No Landlord Agency... Tenant Agency...
Expansion: No
W205297 Newmark Knight Frank-MAR Cushman & Wakefield
Comp #: 1101 Fifth Avenue 900 Larkspur Landing Circle
San Rafael Larkspur

Jerry Suyderhoud Brian Foster
(415) 526-7660 (415) 451-2437

Clayton Noack
(415) 526-7673

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 9
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

Comparable Detail

Prepared For: Suyderhoud
Prepared By: DiMatteo

Comparable Type: Lease 580 Irwin Street
Major Use: Industrial
Subuse: Warehouse Unit Desc: 7
Rumor: No Floor Number: 1
Current Comp: Yes City: San Rafael
State: CA
County: Marin Zip: 94901
Country: U.S.A.
MSA: 7360

Comments

General Comments... Rental Adjustments...
4/16/17: $1.25; 4/16/18: $1.29
2-year as-is deal with no free rent and 3% annual increases. Warehouse with one roll-up
door and one personnel door. 10-12 foot clear height ad 4 parking spaces on site. Tenant
provides marketing software and is moving from 2350 Kerner Blvd #380. Space is for
storage of reading machines and related items.

Options Notes... Assessment Notes...
Space became available 3/14/17 asking $1.25/SF, gross. S

Financing Notes...

April 22, 2019 THE INFORMATION CONTAINED HEREIN HAS BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OTHER SOURCES WE DEEM RELIABLE. Page: 10
WE HAVE NO REASON TO DOUBT ITS ACCURACY, BUT WE DO NOT GUARANTEE IT. ALL INFORMATION SHOULD BE VERIFIED PRIOR TO PURCHASE OR LEASE.

02

Marketing
plan

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Marketing Plan -11-

Newmark Knight Frank

Broker Communications
• Cooperation with outside retail agents and brokers
• Regular eblast to outside brokers
• Mailing lists for direct marketing

Reporting
• Marketing reports
• Status Updates

Brochure
• Create high quality full-color brochure
• Detailed features and amenities

Signage
• On-site signage for the property

Mass Market Communications
• Present the property on multiple online

marketplaces
-LoopNet
-CoStar
- -ICSC presentation
- -Retail Data Base

MTIaMrELkINeEting Plan

Direct Marketing Review/Report Proactive Marketing
• Follow-up on prospects • Review interest
• Mail brochure to relative Tenants • Report/feedback
• Contact the ±300 known tenants in Redirect Marketing • Monitor
• Nation-wide Brokers • Call Tenants
the space range • Follow-up
Preparation • Make presentations Week 8
• Gather materials about property Follow-up Week 9
• Prepare marketing materials • Personal presentations about
• Sign placement Week 9
property
Exposure to Market
• Email brochure to local retail Week 6

and Bay Area Retail brokers Week 5
• CoStar/LoopNet
• Contact prospects, tenants Week 4

direct

Week 3

Week 2

Week 1

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MaArRkKEeTtiInNgGstrategy Accessing the Target Market PUBLICITY
STRATEGY LOCAL
 Distribution of high quality marketing materials
NATIONAL  Ensure outreach to the right audiences CAMPAIGN
NATIONAL  Maximize visibility of the property’s strengths
CAMPAIGN  Appeal to the broker community in the Bay Area and beyond
 Attract potential buyers

• Leverage NKF network of Retail Brokers • Maximize NKF’s dedicated publicity team for
nationwide local marketing

• Conduct a Retail Void Study

INTRODUCTION TO DIRECT POTENTIAL TENANTS MARKETING ONLINE MARKETPLACE
STRATEGY
• Email blasts to the rest of the Bay Area community of brokers on a bi-weekly LOOPNET/COSTAR
basis
• Premium listing for maximum visibility on most
• Personal contacts to known representatives in the market widely used CRE marketplace sites

INTRODUCTION TO
BROKER COMMUNITY

• Email blast on a weekly basis
• Consistent outreach to Tenant and Tenant

Brokers in the market

-13-

03

The
team

-14-

JERRY PROFESSIONAL BACKGROUND
SUYDERHOUD
Jerry Suyderhoud is a senior managing director with Newmark Knight Frank’s San Rafael office. He joined the company in 2010 and
Senior Managing Director specializes in the leasing and sale of commercial and investment properties. Mr. Suyderhoud has been active in Marin County and Bay
Area real estate since 1978.
“ 41 years of
“ experience With experience in residential and commercial development, both as a broker and as a principal, Mr. Suyderhoud has participated in
leasing space in most of the commercial projects in the county. He has sold apartment buildings, office buildings, industrial buildings,
Investments Sales and Leasing triple net investments, shopping centers and raw land.
Commercial/Residential Development
Mr. Suyderhoud is a perennial top producer at Newmark Knight Frank’s San Rafael office. He is a former president of both the Rotary
Club of San Rafael and Marin Country Club

PARTIAL LIST OF RECENT SALES TRANSACTIONS:. As a Landlord Representative:
PARTIAL LIST OF RECENT LEASE TRANSACTIONS:  620 Francisco Boulevard (W), San Rafael ±7,020 SF Retail
As a Tenant Representative:  180 Harbor Drive, Sausalito: various suites
 475 Gate 5 Road., Sausalito: various suites
 24 Digital Drive, Novato: ±7,556 SF warehouse  1750 Bridgeway, Sausalito: various office suites
 Drakes Landing, Greenbrae: ±4,000 SF office

Represented seller:

 Comcast, 1111 Andersen Drive, San Rafael ±29,000 SF
 25 Golden Hinde Boulevard, San Rafael
 7-11 Mark Drive, San Rafael

Represented Buyer:

 Smart & Final Store , Porterville ±31,500 SF
 Smart & Final Store, Fresno ±43,000 SF

-15-

PROJECT TEAM ORGANIZATIONAL CHART Haden
Ongaro
Susi
Banuelos Executive Vice President/
Managing Director
Senior Marketing Coordinator
Bryan
Peter Jerry SuyderhoudR egional S upport Courson
Jograj Leaders hip S upport
Sr. Managing Director Executive Vice President/
Director of Marketing Regional Managing Director
-16-
Eric Chuck
Parson Seufferlein

Research Coordinator President
Western Region

16

The Team

Our in-house staff of designers and programmers utilize skills in all forms of
strategic marketing, including branded campaign designs, social media, web
sites, tablet and mobile programming, video, photography, eBlast campaigns,
copy writing, and advertising. This guarantees a quick and cohesive marketing
campaign tailored to each individual property.

Recent projects include the designing of the brand and/or materials for 181 Fremont, San
Francisco; Bay Meadows, San Mateo; The Campus at Lawson Lane, Santa Clara; Sierra Point
Towers, Brisbane; 4000 Civic Center, San Rafael; America Center, Santa Clara; Centennial
Towers, San Mateo, Creekside@17, Campbell; 600 National, Mountain View.

The Process

Following the initial client meeting, we develop a comprehensive marketing
approach for the project, incorporating all aspects of the proposed campaign
into an over one year timeline and proposal of materials and roll-out,
designed specifically for the needs of the project. The client is kept up-to-
date on all campaign progress and remains an integral part of the marketing
process, collaborating on ideas and through integrating feedback.

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