gold country center Raley s anchored shopping center Fully leased grocery anchored shopping center in northern California [

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1 gold country center Raley s anchored shopping center Fully leased grocery anchored shopping center in northern California 777 CA-49, Jackson, CA Click for Map [ ]

2 investment highlights fully leased grocery anchored shopping center IN desirable northern California. PRICE: $10,375,000 NOI: $746,644 CAP: 7.20% Price per SF...$ Rentable SF...67,665 SF Land area AC Occupancy...100% Year built Tenants... Raley s, Allied Cash Advance, Payless ShoeSource, & Papa Murphy s Gold Country Center is located in the historic city of Jackson, CA, the seat of Amador County and a gateway city to the Sierras. Jackson is a popular weekend town for festivals, antiquing, and for those exploring its historical significance to California s gold rush. The property is located on Highway 49, the main arterial that runs north/south through the foot hills of the Sierras. The shopping center has a large regional draw from various small villages in the Sierra Nevada region of Northern California. It was built in 1999 and has been fully occupied with the original tenants since it construction. The shopping center is anchored by a 62,625 SF Raley s, which is the dominant full-service grocery store in the trade area. The property is located on 9.23 acres and has a total of 325 parking spaces (parking ratio of 4.8/1000). The center has excellent signage on Highway 49 and is above grade from street level with strong visibility. Additional NAP single tenant properties are located within the center and all contribute to the CAM fund. Listing Team Contact Info Dave lucas dlucas@capitalpacific.com (415) CA BRE# chris kostanecki ckostanecki@capitalpacific.com (415) CA BRE# Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team. Gold Country center 2

3 Core characteristics fully leased grocery anchored center Gold Country Shopping Center is currently 100% occupied by Raley s and three other nationally branded tenants. Raley s and Payless ShoeSource are corporate leases and Papa Murphy s and Allied Cash Advance are large franchisee operators. Raley s has been the grocery anchor since the center was constructed in 1999 and occupies 62,625 SF. Raley s lease expires 6/29/24 and has five 5-year options remaining. long term tenants All of the tenants have been in the center since it was developed in Payless ShoeSource, Allied Cash Advance, and Papa Murphy s have all extended their original lease terms. Raley s is still operating on their original 25-year lease term. Clean phase 1 A Phase 1 was performed in 2007 and cited no RECs on the subject property. Capital Pacific was also able to verify with the original developer that the site was raw land prior to development and no high risk environmental tenants had occupied any of the suites in the center since construction. A new Phase 1 assessment is likely to come back with a no further investigation recommendation. Gold country center is 100% leased to raley s, papa Murphy s, allied cash advance, & payless shoe source Strong area retailers The subject property is located adjacent to a CVS/Cost Less Food anchored shopping center. Other retailers in immediate proximity include Tractor Supply, Regal-Cinemas Jackson, KFC, Taco Bell, & Subway. Large regional draw The shopping center has a large regional pull from various small villages in the Sierra Nevada region of Northern California. Excellent visibility & access There is a large monument sign for the center on Highway 49. Highway 49 has average daily traffic counts of 18,500. There is a stop light controlling traffic into the shopping center. Current financing The shopping center would be offered free and clear. Gold Country center 3

4 photos gold country center benefits from excellent signage on highway 49 subject property is located adjacent to a high volume tractor supply store Gold Country center 4

5 aerial Subject property is directly off state route 49, the main retail corridor in jackson, ca 49 ad 104 Ro idge R 49 SACRAMENTO Independence High School 104 WESTOVER FIELD jackson Rancheria Casino resort Jackson Jr. High School Pioneer Elementary AMADOR PLAZA Argonaut High School 88 Jackson Elementary JACKSON CREEK PLAZA GOLD COUNTRY CENTER ad Ro n nto Cli 49 00,5 18 A D Y IL Gold Country center 5

6 jackson aerial Subject property is across from a regal cinemas - the only movie theatre in amador county. Jackson Jr. High School Pioneer Elementary Hoffma n Stree t Jackson Elementary DOWNTOWN JACKSON 88DOWNTOWN JACKSON 88 HEIN & COMPANY GOLDEN ANCHOR TATTOO ANTIQUES MOTHER LODE DELI & JB S TUXEDO RENTALS CATERING MAIN STREET DESIGNS ROSEBUD S CAFE SUE S SHOPPE FAT FREDDY S HOT DOGS MAYNARD S COLLECTIBLES FARGO CLUB LADY S FIRST EMERALD FOREST ANTIQUES HEAVEN & EARTH TREASURE S MERCANTILE STANLEY S STEAKHOUSE VOLCANO GLASS WORKS NATIONAL HOTEL 49 JACKSON CREEK PLAZA rd leva Bou sion Mis BIGGEST LITTLE KITCHEN STORE FULL CIRCLE TRADING TRADER STAN S CRUCIBLE JEWELRY MAIN STREET COLLECTIBLES GOLD NINE JEWELERS MAIN EVENT BAR TRAIN TOWN CANDIES SWENSEN S SHOES oad nr o t Clin 49 jackson Rancheria Casino resort 18,5 00 D A IL Y GOLD COUNTRY CENTER SACRAMENTO Gold Country center 6

7 Income & expense Current New Debt Price: $10,375,000 New Loan Amount $7,262,500 Capitalization Rate: 7.20% Interest Rate 4.35% Price Per Square Foot: $ Amortization 25 Year Down Payment 30% $3,112,500 Term 10 Year Loan Amount 70% $7,262,500 Net Operating Income $746,644 Total Leased (SF): % 67,665 Debt Service ($477,018) Total Pending (SF): 0.00% 0 Pre-Tax Cash Flow $269,626 Total Rentable Area (SF): % 67,665 Debt Coverage Ratio (1.57) INCOME Per Square Foot Cash-on-cash Return 8.66% Scheduled Rent $11.49 $777,518 Principal Reduction $164,350 CAM/Insurance/Admin Recovery (2015 Actual) $1.52 $102,626 Total Return 13.94% Real estate tax/admin Recovery (2015 Actual) $1.09 $73,910 Ancillary Income (2016 Budget) $0.27 $18,561 EFFECTIVE GROSS INCOME $972,615 Vacancy Reserve (5% of base rent excl Raleys) 5.00% ($6,122) ADJUSTED GROSS INCOME $966,493 EXPENSES (2015 Actual) Per Square Foot Taxes -$0.97 ($65,343) Insurance -$0.12 ($8,115) Repairs & Maintenance -$1.49 ($100,935) Management Fees (3.0%) -$0.57 ($38,689) Capital Expendture Reserve -$0.10 ($6,767) TOTAL OPERATING EXPENSES -$3.25 ($219,849) NET OPERATING INCOME $746,644 NEW FINANCING/ CASH FLOW This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ REPRESENTATIVE PHOTO ] Gold Country center 7

8 Rent roll TENANT INFO LEASE TERMS RENTAL RATES RECOVERY Tenant SQ. FT. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/Ft Yearly Rent/Ft 2015 Recovery Raley's 62,625 6/3/97 6/29/24 $655,077 $54,590 $655,077 $0.87 $10.46 $109,874 Option 1 6/30/24 6/29/29 $54,590 $655,077 $0.87 $10.46 Option 2 6/30/29 6/29/34 $54,590 $655,077 $0.87 $10.46 Option 3 6/30/34 6/29/39 $54,590 $655,077 $0.87 $10.46 Option 4 6/30/39 6/29/44 $54,590 $655,077 $0.87 $10.46 Option 5 6/30/44 6/29/49 $54,590 $655,077 $0.87 $10.46 Allied Cash Advance 1,200 2/6/01 4/30/16 $38,304 $3,192 $38,304 $2.66 $31.92 $8,480 Payless ShoeSource 2,520 11/31/98 4/30/19 $52,920 $4,410 $52,920 $1.75 $21.00 $19,271 5/1/17 4/30/18 $4,542 $54,508 $1.80 $ /1/18 4/30/19 $4,679 $56,143 $1.86 $22.28 Papa Murphys 1,320 5/31/00 4/30/21 $31,217 $2,601 $31,217 $1.97 $23.65 $11,810 5/1/17 4/30/18 $2,679 $32,153 $2.03 $ /1/18 4/30/19 $2,760 $33,118 $2.09 $ /1/19 4/30/20 $2,843 $34,112 $2.15 $ /1/20 4/30/21 $2,928 $35,135 $2.22 $26.62 Big O Tires (NAP) $3,687 Armstrong Trust (NAP) $4,442 KKP Properties (NAP) $8,945 Jackson Tractor Supply (NAP) $10,028 Current Total 67, % $777,518 Total Yearly Rent Leased Total 67, % $64,793 Total Monthly Rent Total Recovery $176,536 Vacant Total % This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ REPRESENTATIVE PHOTO ] Gold Country center 8 [ REPRESENTATIVE PHOTO ]

9 Site plan DRIVEWAY FOR SUBJECT PROPERTY Site Plan Key Parcel outline: Rentable Area: 67,665 sf Ingress/Egress: 49 18,500 DAILY RETAIL SHOPS (NAP) GOLD COUNTRY AUTO CLINIC (NAP) Clinton Road (NAP) This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. Gold Country center 9

10 about raley s Raley s supermarket Raley s Supermarket (also known as Raley s Family of Fine Stores) is a privately held, family-owned supermarket chain that operates stores under the Raley s, Bel Air Markets, Nob Hill Foods, and Food Source names in northern California and Nevada. Founded in 1935 by Tom Raley as Raley s Drive-In Market, Raley s now employs over 15,500 people in 128 stores. Raley s is headquartered in West Sacramento and remains the dominant supermarket operator in the Sacramento metropolitan area. Raley s also ranked No. 7 in the Consumer Reports 2014 survey of top U.S. supermarket chains, for customer service in particular. TYPE Private EMPLOYEES 15,500+ LOCATIONS 128+ Gold Country center 10

11 tenants allied cash advance - franchisee Allied Cash Advance is a leading provider of cash advances, with over 150 branches in six states. When you need money fast, they provide a convenient, economical alternative to the fees charged by banks, utility companies, and other service providers. payless shoesource - corporate lease Payless ShoeSource is the largest specialty family footwear retailer in the Western Hemisphere, offering an on-trend, comprehensive range of everyday and special occasion shoes and accessories for every member of the family at affordable prices. The company s mission is simple: To be the Go To, Get More, Pay Less shoe store for their target customers. Payless was founded in 1956 and, today, employs more than 25,000 associates worldwide. It is a privately held company owned by Golden Gate Capital and Blum Capital Partners. papa murphy s - franchisee Papa Murphy s, a take-and-bake pizza company, is the fifth largest pizza restaurant chain in the country. Papa Murphy s and its franchisees operate more than 1,300 stores in the United States and Canada. In 2014, Quick Service Restaurant Magazine recognized Papa Murphy s as the top pizza chain. In 2010, the chain was acquired by Lee Equity Partners and, in 2014, they opened the first public offering of the company on NASDAQ as FRSH. Gold Country center 11

12 tenant occupancy history original term (current): 6/03/97-6/29/24 original term: 2/06/01-4/30/07 First extension: 5/01/07-4/30/10 Second extension: 5/01/10-4/30/12 third extension: 5/01/12-4/30/14 Fourth extension: 5/01/14-4/30/15 Fifth extension (current): 5/01/15-4/30/16 Original term: 11/31/98-4/30/09 First extension: 5/01/09-4/30/10 Second extension: 5/01/10-4/30/13 third extension: 5/01/13-4/30/16 Fourth extension (Current): 5/01/16-4/30/19 original term: 5/31/00-8/31/10 Month-to-month: 9/01/10-4/30/11 first extension: 5/01/11-4/30/21 Gold Country center 12

13 regional map Drive Times from GOLD COUNTRY CENTER Davis, CA 60 Miles 1 HR, 17 MINS Walnut creek, ca 97 Miles 2 HR, 1 Min SAn Jose, CA 126 miles 2 hr, 13 mins santa rosa, ca 143 miles 2 hr, 50 mins sacramento 1 hr 5 min 50 miles 18,500 DAILY CA Highway 49 GOLD COUNTRY CENTER jackson 2 hr 20 min 122 miles san francisco Gold Country center 13

14 demographics average household incomes in a 5-mile radius are $64,000+ Population gold country center 1-Mile 3-Miles 5-Miles ,348 5,761 10, ,313 5,706 10, ,384 5,844 10,654 1 MILE 2016 Household Incomes 1-Mile 3-Miles 5-Miles Average $68,051 $63,643 $64,369 Median $54,428 $49,498 $50,755 3 MILES 5 MILES Gold Country center 14

15 location summary About jackson, ca Jackson, the seat of Amador County, is a full service General Law city, with a residential population of 4,651 and daytime and weekend population of 12-15,000. The city is located in the heart of California s historic center, 45 miles east of Sacramento. Jackson began as a gold mining camp in 1848 and today is the hub of commerce. It is home to the only movie theater complex in the County, and hosts a number of popular seasonal events and festivities that are famous throughout the Sacramento Valley and Northern California. about sacramento, ca Sacramento is the capital of California, the sixth-largest city in the state and the 35th largest city in the country. The urban Sacramento area has a population of 1.44 million while the Sacramento metropolitan area -- which includes seven counties -- has an estimated population of 2.66 million. Government and transportation are key sectors of the economy. Technology related companies, such as Intel and Hewlett-Packard, have increasingly been drawn to Sacramento due to its well-educated labor pool and proximity to research centers. Other economic drivers include health services, hospitality, education, and construction. top employers in jackson Company ± Employees Jackson Rancheria 1,500 Sutter Amador Hospital 350 County Of Amador 200 Kit Carson Nursing & Rehab 220 Walmart 150 Numbers are approximate Year End 2012 Data [ sacramento, ca ] Gold Country center 15

16 A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ ] Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team. dave lucas dlucas@capitalpacific.com (415) CA BRE# chris kostanecki ckostanecki@capitalpacific.com (415) CA BRE# chris peters Rick sanner zandy smith jack navarra zeb ripple john andreini joe caccamo gregg steele aaron susman karla zens [ Copyright 2016 Capital Pacific ]