22

AERIAL

PACIFIC OCEAN

JEFFERSON ST PKWYADT 41,000

ADT 134,000

W E S T V I S TA W A Y

AV

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ROAD

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33

LISTED BY

STEWART R. R. KEITH

direct +1 (858) 875-4669mobile +1 (619) 280-3311skeith@flockeavoyer.com

License No. 01106365 (CA)

BRADLEY S. WILLIAMS

direct +1 (858) 875-4668mobile +1 (619) 280-3311

bwil l iams@flockeavoyer.comLicense No. 01802468 (CA)

KYLE MATTHEWSCHAIRMAN & CEO

direct +1 (310) 919-5757kyle.matthews@matthews.com

License No. 1972189 (CA)

LEASED BY

4

SECTION 1

Proper t yOverv i ew

4

5

PHYSICAL DESCRIPTION

INVESTMENT HIGHLIGHTS

2146 Vista WayOceanside, CA 92054

ADDRESS+/-4,881 sfSQUARE FOOTAGE

154-130-32-00APN

+/-1.02 acresLAND AREA

BEST OFFERPRICE

$105,731NOI

» Prime location at the I-5/SR-78 interchange with over ±134,000 VPD passing the site along SR-78

» Absolute NNN lease structure with zero landlord responsibility

» Store sales are over 30% stronger than Applebee’s national average showing the intrinsic strength of the location

» Outparcel to Pacific Coast Plaza, a ±450,000 SF freeway-oriented power center located along the major retail corridor of the largest city of North San Diego County

» Tenant has been operating at this location since 1997, showing long-term proven strength at this location

» High density trade area with ±106,402 people in a 3-mile radius and ±222,979 in a 5-mile radius

» Significant 10% rent increases every 5 years throughout the renewal options

» Apple American is one of the largest Applebee’s operators in the country with over 500 sites

» Applebee’s is one of the largest casual dining chains with nearly 2,000 stores across the globe

» Below market ground rent

6

AVOCAD

O RO

AD

WEST VISTA WAY

TE

ER

TS

NO

SR

EF

FEJ

E3

E5

E1-E2

1A 1B

2A

B10B9

B8

B3B2

B1

B7

3A

SITE PLAN

SUITE TENANT SF

PARCEL 1

Chevron 2,500

PARCEL 2

McDonald's 3,255

PARCEL 3

B1 Starbuck's 1,288

B2 T-Mobile 1,500

B3 Cookie Cutters 1,500

B4-B6 Eyeglass World 4,500

B7 Submarina 1,500

B8 Brooklyn Boyz Pizza 1,500

B9 Los Tacos 960

B10 Einstein Bros Bagels 2,019

PARCEL 4

Mimi's 6,500

SUITE TENANT SF

PARCEL 5

Staples 15,225

1A Cricket Wireless 1,350

1B Happiness Nails 2,444

2A Quick Wok 2,019

PARCEL 6

E1 Sprint 1,642

E3 Available 1,625

E5 Navy Federal Credit Union 4,579

PARCEL 7

Applebee's 4,881

PARCEL 8

Stater Bros 62,279

PARCEL 9

Dick's Sporting Goods 41,375

SUITE TENANT SF

PARCEL 10

Old Navy 12,800

Five Below 11,190

PARCEL 11

Cost Plus World Market 18,928

PARCEL 12

Party City 10,000

3A Available 7,500

PARCEL 13

Bed Bath & Beyond 38,008

PARCEL 14

Best Buy 50,000

PARCEL 15

Walmart

6

SUBJECT PROPERTY

7

1

15 14 13 12

11

10

9

8

6

5

3

42

1

7

N

APN ACRES

154-130-34-00 1.12

154-130-35-00 1.13

154-130-36-00 1.43

154-130-37-00 1.7

154-130-31-00 1.75

154-130-33-00 0.69

154-130-32-00 1.02

154-130-30-00 4.28

154-130-29-00 2.72

154-130-28-00 1.86

154-130-27-00 1.19

154-130-26-00 1.62

154-130-25-00 2.16

154-130-24-00 3.42

154-130-23-00 12.19

1

2

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4

5

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7

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9

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15

PARCEL MAP

SR-78

8

SECTION 2

Financ ialOverv i ew

8

9

SUITE TENANTLEASESTART

LEASEEND

SQFT

CONTRACTRENTAL RATE

RENT $ PSF RENTINCS.

OPTIONS

YEAR MONTH YR. MO.

2146-FApplebee's

(Ground Lease)Aug-97 Aug-22 4,881 $105,731 $8,811 $21.66 $1.81 10%x5 yrs 2x5 yrs

RENT ROLL

ANNUAL RENT MONTHLY RENT RENT/SF/MONTH

Current - 8/17/2022 $105,730.98 $8,810.92 $1.81

OPTION PERIOD

Option 1 (8/18/2022-8/17/2027) $116,304.08 $9,692.01 $1.99

Option 2 (8/18/2027-8/17/2032) $127,934.49 $10,661.21 $2.18

ANNUALIZED OPERATING DATA

10

LEASE ABSTRACT

Lessor AGC Pacific Coast Plaza, LLC

Lessee Apple SOCAL, LLC

Tenant Name (dba) Applebee's Neighborhood Grill & Bar Restaurant

Landlord AGC Pacific Coast Plaza, LLC

Tenant Size (SF) 4,881

Lease Commencement Date August 18, 1997

Expiration Date August 17, 2022

Initial Lease Term 180 Months

Remaining Lease Term (Current - 8/17/2022) 43 Months

Contractual Rent (Current - 8/17/2022) $105,731

No. & Term of Options 2x5

Option 1 (8/18/2022-8/17/2027) $116,304

Option 2 (8/18/2027-8/17/2032) $127,934

Escalations* 3% - 10% per option period based on CPI

Utilities / HVAC Tenant pays direct

Property Tax ExpensesTenant pays direct (Tenant not responsible for the increase in real estate taxes resulting

from a sale or transfer of the property to any affiliate of the current owner of the property)

Percentage Rent 2% of Gross Receipts for each Lease Year in excess of the Annual Rent.

Co-tenancy N/A

Estoppel 15 days

Guaranty Apple American Group LLC

LEASE ABSTRACT

11

The Applebee's concept focuses on casual dining, with mainstream American dishes such as salads, chicken, pasta, burgers, and "riblets". All Applebee's restaurants feature a bar area and serve alcoholic beverages (except where prohibited by law). As of December 2017, there were 1,936 restaurants operating system-wide in the United States, Puerto Rico, Guam, and 15 other countries, all owned and operated by franchisees. The company was headquartered in Kansas City, Missouri, after moving from bordering Johnson County, Kansas. in September 2011. On September 3, 2015, it was announced that their parent company, DineEquity, would be consolidating its headquarters for Applebee's and IHOP to DineEquity's Glendale, California, location.

FOUNDED: 1986 LOCATIONS: 1,936

TENANT OVERVIEW

12

SECTION 3

AreaOverv i ew

12

13

OCEANSIDE, CALIFORNIAOceanside is a beachfront community of 176,461 located in

northern San Diego County between San Diego and Los Angeles.

The City serves as a major transportation hub serving both

metropolitan areas; however, the city’s greatest pride is its scenic

beaches, beautiful surf and the best vacation weather anywhere

in the world.

Oceanside is a true SoCal beach town with a tangible laid-back

vibe. The city boasts spectacular year-round weather, gorgeous

beaches, a historic wooden pier, quaint New England-style

harbor, and charming bungalow neighborhoods.

O’side (as locals affectionately call it) is a destination of discovery

where you can explore everything from awe-inspiring sea life

through exciting ocean adventures, California history at the “King

of Missions,” and surf culture at the California Surf Museum.

Centrally located in the heart of Southern California, Oceanside is

perfectly situated between San Diego and Los Angeles, making

it easy to visit family-favorite attractions such as LEGOLAND

California Resort, Disneyland California Resort, and the world-

famous San Diego Zoo.

POPULATION 1-MILE 3-MILE 5-MILE

2024 Projection 10,358 110,786 233,166

2019 Estimate 9,980 106,402 222,979

2010 Census 9,447 99,635 205,727

Growth: 2019 to 2024 3.79% 4.12% 4.57%

Growth: 2010 to 2019 5.64% 6.79% 8.39%

HOUSEHOLDS 1-MILE 3-MILE 5-MILE

2024 Projection 4,139 43,737 85,741

2019 Estimate 3,983 41,924 81,928

2010 Census 3,757 39,086 75,569

Growth: 2019 to 2024 3.92% 4.32% 4.65%

Growth: 2010 to 2019 6.01% 7.26% 8.41%

HOUSEHOLD INCOME 1-MILE 3-MILE 5-MILE

Average HH Income $126,728 $100,257 $98,763

Median HH Income $86,849 $71,914 $72,053

14

OCEANSIDE ATTRACTIONS• Oceanside boasts some of the widest, sandy beaches in

Southern California as well as a picturesque 1,000-slip harbor

with shops and restaurants.

• Other attractions include Mission San Luis Rey, the king of

California’s Spanish Missions; Oceanside Museum of Art;

California Surf Museum; and Buena Vista Audubon.

• Oceanside has the best surfing conditions in Southern

California; hosting major surf, body boarding and body

surfing competitions every year.

• Fisherman can cast off the Oceanside Pier, the longest

wooden pier on the Pacific Coast; or take a fishing boat; or a

whale watching tour out of the Oceanside Harbor.

• Take a stroll, watch surfers catch a wave, gaze at the sunset,

or dine at Ruby’s Diner at the end of the Pier.

• Bicycle riders enjoy the 7-mile San Luis Rey River Trail and

Coastal Rail Trail.

• Oceanside is a short drive from the San Diego Zoo, the San

Diego Zoo Safari Park and Sea World.

OCEANSIDE PIERStanding at a breathtaking 1,942 feet long, the Oceanside Pier is

a must-see! The area is buzzing with activity around the clock,

from those taking a leisurely walk to fi shermen casting a line and

photographers capturing an epic sunset.

At the shore end of the pier is a plaza and amphitheater where

you can rent bikes or even document your adventures with a

classic caricature drawing. As you walk by the amphitheater, don’t

be surprised to find groups of people exercising, taking a dance

lesson, or even enjoying a music festival.

OCEANSIDE HARBORThe most northern beach in Oceanside is Harbor Beach. A sandy

peninsula, Harbor Beach has stunning ocean views to the west and

harbor views to the east. From this unique vantage point you can

watch surfers catching a wave or spot a sailboat leaving its dock.

Two rocky jetties protect the harbor from rough seas and preserve

its wide, sandy beaches. When the surf conditions are just right,

the jetties are popular locations for people to stand and watch the

ocean waves crash below them.

15

16

CARLSBAD OUTLETS

LEGOLAND

OCEANSIDE PIER

CARLSBAD VILLAGE

FLOWER FIELDS

MISSION SAN LUIS REY

1

65

43

2

POINTS OF INTEREST

1

4

6

2

5

3

17

OCEANSIDE, CALIFORNIA is the northernmost City in San Diego County. It is a major transportion hub with the Sprinter, Coaster, Metrolink, and AMTRAK. 3.5 miles of sparkling beaches.

• Population: 177,362• Median price, new single-family home: $512,000• 67,238 homes in Oceanside• 2,270 new units under construction or in the pipeline • Median age is 36.69 • Average Household Income is $87,163• Over 6 million visitors come to Oceanside annually

CALIFORNIA

78

5

CALIFORNIA

76

CALIFORNIA

78

CALIFORNIA

76

OCEAN RANCH

AVE. DE LA PLATA

NO

RTHRIVER

OceansideMunicipal

Airport

R ANC

HO

DEL ORO

COAST HIGHWAY

COLLEGE BL.

MELRO

SE D

R.

EL CAMIN

O REAL

MISSION AVE.

M

ESA DR.

M ESA D

R.

OCEANSIDE BLVD.

OCEANIC DR.

MOTTINOCENTER

RANCH

O D

EL ORO RD. CEN

TER RDOGATEWAY

CENTERDEL ORO MARKET

PLACE

PLAZARANCHPLAZA

PLAZARANCHODEL ORO

COLLEGE BLVD

.

OCEANSIDE BLVD.

142,654PEOPLE

$79,096AVERAGE

HOUSEHOLDINCOME

$

39,157 ADTTRAFFIC COUNTS

3 MILE RADIUSCOLLEGE & OCEANSIDE BLVD.

MISSION AVE.

EL C

AM

INO

REA

L

RAN

CHO

DEL OR

O RD.

76

76

DO

UGL

AS D

R.

MARKETPLACEDEL RIO

SHOPPING CENTER

MISSIONPLAZA REALSHOPPING

CENTER

MISSISON DOUGLAS

PLAZA

117,915 PEOPLE $83,613

AVERAGEHOUSEHOLD

INCOME

$

43,708 ADTTRAFFIC COUNTS

3 MILE RADIUSMISSION AVE., EL CAMINO REAL

AND RANCHO DEL ORO RD.

M

ISSI ON AV

E.

FR AZEE

76OLD

GROVEMARKET

PLACE

OLD GROVE RD.

TOWN CENTER NORTH

N ORTH RIVER RD. COLLEGE BLVD.SAN LUIS

REY CROSSING

MISSIONMARKET

PLACEPLAZA

DELORO

76

VISTA WAY

EL C

AMIN

O R

EAL

EL CAMINO NORTH

CAMINO TOWN &

COUNTRY

PACIFIC COAST PLAZA

VIA

ESM

ARC

A

FIRE MOUNTAINSHOPPING CENTER

VISTA WAY & EL CAMINO REAL ADJACENT TO HWY 78

78

JEFF

ERSO

N

NORTHCOUNTY

PLACE

133,476 ADTTRAFFIC COUNTS

$76,784AVERAGE

HOUSEHOLDINCOME

$119,619PEOPLE

3 MILE RADIUS

45,924 ADTTRAFFIC COUNTS

$87,642AVERAGE

HOUSEHOLDINCOME

$105 PEOPLE

3 MILE RADIUSHWY 76 & COLLEGE BLVD.

VISTA WAY & EL CAMINO REAL

20 mile

CALIFORNIA

163CALIFORNIA

163

10 mile

R IA

SanDiego

OrangeCounty

5 mile

76

OCEANSIDE

1,144,174 people within 20 mile radiusAverage Household Income $117,751Daytime Employees: 445,634

588,415 people within 10 mile radiusAverage Household Income $100,962Daytime Employees: 217,431

278,148 people within 5 mile radiusAverage Household Income $88,389Daytime Employees: 67,790

18

This Offering Memorandum contains select information pertaining to the business and affairs of Pacific Coast Plaza located in Oceanside, CA (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1 . The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or

its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the MS of affairs of the Property or constitute an indication that there has been no change in the MS of affairs of the Property since the date this Offering Memorandum.

CONFIDENTIALITY AGREEMENT & DISCLAIMER

19

STEWART R. R. KEITH

direct +1 (858) 875-4669mobile +1 (619) 280-3311skeith@flockeavoyer.com

License No. 01106365 (CA)

BRADLEY S. WILLIAMS

direct +1 (858) 875-4668mobile +1 (619) 280-3311

bwil l iams@flockeavoyer.comLicense No. 01802468 (CA)

KYLE MATTHEWSCHAIRMAN & CEO

direct +1 (310) 919-5757kyle.matthews@matthews.com

License No. 1972189 (CA)

LEASED BY