FOR SALE Perko s Cafe

625 S. CLOVIS AVENUE FOR SALE Perko s Cafe Located in a Regional, OSH Anchored Shopping Center Offering Memorandum CHARLES DUNN COMPANY 1925 Century Park East, Suite 2350 Los Angeles, CA 90067 Lic. #01201641 www.charlesdunn.com

625 S. Clovis Avenue 1 INVESTMENT SUMMARY Investment Summary Tenant Overview Offering Procedure Exclusively Marketed By: 2 PROPERTY OVERVIEW Parcel Map Street & Aerial Maps Traffic Counts Property Images 3 MARKET OVERVIEW Fresno Overview Property Demographic Report 4 FINANCIAL SUMMARY Lease Abstract Confidentiality & Disclaimer JUSTIN D. MENDELSON Senior Director (310) 492-8413 jmendelson@charlesdunn.com Lic. #01877973 ASHLEY E. SAYE Associate (310)492-8406 asaye@charlesdunn.com Lic. #01955010 CHARLES DUNN COMPANY 1925 Century Park East Suite 2350 Los Angeles, CA 90067 Lic. #01201641 www.charlesdunn.com Disclosure Advisement Charles Dunn Company has not made any investigation, has not verified, and will not verify, any of the information contained herein (Pages 1-26), and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided with respect to the following: The compliance with City, County, State, and Federal regulations. The income or expenses for the Property. The physical condition of the improvements on the Property. The future projected financial performance of the Property. The financial condition or business prospects of any tenant in the Property. The size and square footage of the Property (land and improvements). Any tenant s plans or intentions to continue its occupancy of the Property.»» The presence or absence of contaminating substances, including PCB or asbestos at the Property.»» All prospective purchasers must take appropriate and independent measures to verify all of the information set forth herein. 2015 Charles Dunn Company, Inc. These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including land use limitations. BRE Lic. #01201641

Investment Summary

Investment Summary 625 S. Clovis Avenue Charles Dunn Company is pleased to present an Exclusive Investment Offering for a single-tenant Perko s leased Retail building located at 625 S. Clovis Avenue, (the Property ). ADDRESS 625 S. Clovis Avenue OFFERING PRICE $1,152,000 JANUARY 2016 ANNUAL RENT $72,000 CAP RATE 6.25% RENT INCREASES $3,000 Annually ASSESSOR S PARCEL NUMBER 313-240-62 OWNERSHIP RIGHTS Fee Simple Interest in land and building. LOCATION LAND SIZE In the City of Fresno next to the intersection of E. Kings Canyon Road and S. Clovis Avenue. 25,239 SF (per public record) IMPROVEMENTS The Property consists of ±3,466 square feet of rentable area currently used as a casual dining restaurant. IMPROVEMENTS DESCRIPTION The construction is of commercial type. SITE IMPROVEMENTS FRONTAGE The Property has concrete walkways, asphalt driveways, and parking lot lighting. It is appealingly landscaped with grass, small and mature trees and shrubs surrounding the improvements and parking area. There are approximately 96 feet of frontage on Clovis Avenue. ACCESS PARKING Access points into the center include two (2) entrances from Clovis Avenue and additional entrances from the shopping center the Property is located within. There are ±49 parking spaces (1 per 100 square feet of building area) including handicap spaces. TENANCY The Property is 100% leased to Perko s Cafe. OPERATING EXPENSES NNN 4

Tenant Profile 625 S. Clovis Avenue Perko s Farm Fresh is an upscale family restaurant catering to local tastes. While innovative recipes keep the menu diverse, traditional meals continue to please a wide variety of tastes. With on-site preparation of breakfast, lunch and dinner, Perko s has become the restaurant of choice for all ages. Perko s Farm Fresh is open for breakfast, lunch, and dinner 7 days a week, from 6AM through 9PM. Locations: 22 Headquarters: Central Valley, CA Website: www.perkos.com 5

Offering Procedure 625 S. Clovis Avenue Charles Dunn Company has been authorized to prepare and distribute the data in this Exclusive Investment Offering ( Exclusive Investment Offering ) to a select group of qualified parties in order to solicit their interest and offers to acquire the existing improvements and land ( The Property ). Interested parties are invited to review this opportunity and make an offer based on their analysis. The Property is located at 625 S. Clovis Avenue ( the Property ), with the selection of the buyer being influenced by the level of interest, track record, level of prior due diligence initially undertaken, and financial ability to purchase the Property. Preference will be given to all-cash investors who will not seek financing. Confidentiality Agreement NOTE: Prospective purchasers and their brokers (if any) may be required to sign a Confidentiality and Registration Agreement if there is an accepted offer in order to receive detailed information beyond the information contained in this Exclusive Investment Offering. They will both affirm that they have read and understand the details of the Confidentiality Agreement and Disclaimer contained in the Exclusive Investment Offering. The document will further state that the prospective purchaser s decision to buy the Property does not and will not rely on any information contained in this Exclusive Investment Offering or any information that is provided to them by Charles Dunn Company that is not specifically from the property s owner and deemed a part the official due diligence material. Brokers may be required to sign a Cooperating Broker Compensation Agreement at the beginning of negotiations on behalf of a prospective purchaser. Specific Contact Prospective purchasers and/or their brokers are required to contact the Listing Agents at the Charles Dunn Company for information about the Property. They are not authorized to contact the Ownership or tenants regarding the Property. Submission of Offers There is not a specific due date for offers, thus, the Ownership may accept an offer of their choosing at any time. Offers must be submitted in a Letter of Intent format. All decisions are at the Ownership s sole discretion. Investors Negotiations and Selection The Ownership will respond to all bona fide offers as they are received by the Charles Dunn Company. The Ownership may also reject any offer not meeting the standards of this Exclusive Investment Offering or from a purchaser deemed not qualified to close the transaction. If an offer results in the Ownership choosing to open negotiations with a specific purchaser, the purchaser will be asked from the beginning of the negotiations to provide proof of their financial ability to provide the equity portion of the purchase price and to provide financial references. The eventual selection of the purchaser will be influenced by the level of interest, track record, level of prior due diligence initially undertaken, and financial ability to close the transaction. Due Diligence Period The selected purchaser will be given a fixed period of time to perform its due diligence on the Property and may be encouraged to begin their due diligence upon the execution of an accepted Letter of Intent. The purchaser will be provided a draft Purchase & Sale Agreement by the Ownership. The executed Purchase & Sale Agreement will require an immediate Good Faith Deposit by the purchaser, which becomes non-refundable when the purchaser removes contingencies within the time specified. 6

Property Overview

Property Maps 625 S. Clovis Avenue 8

Property Maps 625 S. Clovis Avenue Text goes here. 9

Traffic Counts 625 S. Clovis Avenue Traffic Count Report Building Type: Secondary: GLA: Year Built: Total Available: % Leased: Rent/SF/Mo: General Retail Freestanding 3,466 SF 1979 0 SF 100% -$1.73 Perkos Cafe 625 S Clovis Ave, Count Avg Daily Volume Miles from Street Cross Street Cross Str Dist Year Volume Type Subject Prop 1 S Clovis Ave E Kings Canyon Rd 0.04 N 2011 25,729 MPSI.11 2 S Clovis Ave E Kings Canyon Rd 0.05 N 2014 30,014 MPSI.11 3 E Kings Canyon Rd S Walling Ave 0.06 E 2011 19,322 MPSI.21 4 E Kings Canyon Rd S Walling Ave 0.05 E 2014 17,957 MPSI.21 5 E Huntington Ave S Clovis Ave 0.06 W 2008 2,504 ADT.22 6 S Clovis Ave E Park Circle Dr 0.04 N 2014 21,919 MPSI.43 7 E Tulare Ave S Rogers Ln 0.03 E 2014 8,475 MPSI.46 8 Clovis Ave E Washington Ave 0.31 N 2011 47,270 MPSI.47 9 Clovis Ave E Washington Ave 0.28 N 2014 33,330 MPSI.47 10 E Kings Canyon Rd S Minnewawa Ave 0.05 W 2008 20,056 ADT.48 Copyrighted report licensed to Charles Dunn Company, Inc. - 8883. 11/17/2015 10

Property Images 625 S. Clovis Avenue 11

Market Overview

MARKET OVERVIEW: Fresno General Overview Fresno, the seat of Fresno County, is the fifth largest city in California, the largest inland city in California, and the 34th largest city in the nation. Fresno is situated approximately 200 miles north of Los Angeles and 170 miles south of Sacramento. Fresno is a very diverse city. It is comprised of persons from more than 90 different nationalities who speak over 75 different languages. Fresno has an ethnic mix from its earliest years due to Chinese, Scandinavian, German, Russian, Japanese, and Armenian settlers, and became home to a large Hispanic population by the early 20th century. The Fresno Hmong community is one of the largest two urban Hmong communities in the United States. Ethnic Composition 50.1% White 29.4% Other Race Population (2014) 514,094 Population Change 18.3% (2000 to 2014) Median Income (2014) $50,843 Median Age (2014) 29.7 Education (25+) No High School Diploma...24.8% High School Graduate...23.1% Some College...23.9% College Degree+...28.1% 12.5% Asian 8.0% Area 111.957 square miles Black or African American 13

MARKET OVERVIEW: Fresno Economy & Transportation ECONOMY Located in the heart of the San Joaquin Valley, Fresno is the financial, industrial, trade, and commercial capital of the Valley. Fresno s economy continue to diversify, reflecting its advantageous location, low business costs and attractive cost of living. Agriculture is the primary industry of Fresno and continues to be robust. The Brookings Institute named Fresno as one of the fastest growing large economies in the world and ranked Fresno 49th out of 300 largest global metropolitan areas in January 2015. Brookings reported Fresno s rapid employment growth as the primary factor for their ranking, 4.5% compared to 1.6% for the United States. Fresno economy showed steady improvement during fiscal year 2014, according to its 2014 Comprehensive Annual Financial Report. The unemployment rate decreased to 11.4%, compared to 12.9% in previous year. The number of its building permits increased from 8,923 permits in 2013 to 9,766 permits in 2014. PRINCIPAL EMPLOYERS Employer # of Employees Fresno Unified School District 6,829 County of Fresno 6,568 City of Fresno 4,100 Community Regional Medical Center 3,894 Kaiser Permanente Medical Center 1,765 Saint Agnes Medical Center 1,602 California State University, Fresno 1,542 State Center Community College District 1,183 VA Central California Healthcare System 1,062 AmeriGuard Security Services, Inc. 650 Source: Fresno CAFR for the fiscal year ended June 30, 2014 TRANSPORTATION Fresno Yosemite International Airport (FAT) is a joint civil-military public airport in eastern Fresno. Despite its name, the airport is located more than 60 miles south of Yosemite National Park. Home to Fresno Air National Guard Base and California Air National Guard, the airport has flights to airline hubs throughout the Western United States, international flights to Mexico, and cargo services. The top three domestic routes from FAT are: Phoenix, Los Angeles and Dallas/Fort Worth. FAT was the first airport in the nation to install a web-based, wireless system (PASSUR Flight Information Display) to list active flight arrivals and departures and the first one to implement an anti-terrorist facial recognition system, shortly after 9-11 attacks. Fresno Area Express (FAX) is the largest mass public transportation provider in the San Joaquin Valley. The public transportation has 16 Fresno routes and 4 Clovis routes, stopping at schools, government offices, other transportation stations, shopping centers, hospitals and ballparks. The city will have a new bus rapid transit system, City of Fresno Bus Rapid Transit (Q). It is expected to be in service in December 2016. 14

MARKET OVERVIEW: Fresno Notable Locations California State University, Fresno, also known as Fresno State, is a public comprehensive university and one of 23 campuses within the California State University system. Fresno State is located at the northeast edge of Fresno, within a three-hour drive of both Los Angeles and San Francisco. The university offers 64 undergraduate degree programs, 44 master degree programs and 3 doctoral subject areas. Fresno State has 2,200 full and part-time faculty and staff members; 96% of the tenured faculty hold doctoral or other terminal degrees in their areas of study. Fresno Convention & Entertainment Center is a four building complex convention center located in downtown Fresno. It is the premier performing arts and convention center site in California s Central Valley. The Selland Arena of the entertainment center was home to the Central Valley Coyotes, the former Fresno professional football team that ceased operations in December 2010. William Saroyan Theatre is home to Fresno Philharmonic and the Fresno Ballet. The theatre has hosted many nationally acclaimed perfomers, plays, and events such as Jerry Seinfeld, David Copperfield, The Sound of Music, Evita, Chicago, and the Miss California Pageant. Fresno Metropolitan Museum of Art and Science (The Met) is one of the largest museums between San Francisco and Los Angeles, located in the historic Fresno Bee building in downtown Fresno. Since its opening in 1984, the museum has welcomed more than 2 million visitors with its programs in art, history and science. The Met became the first organization outside the Bay Area to win Northern California s Award of Excellence in non-profit management from Chevron and The Management Center of San Francisco in 1995. The museum has also been awarded as the Best Museum each year since 1999 by the readers of Fresno Bee. 15

MARKET OVERVIEW: Fresno Property Demographic Report Population Trend 1 Mile Ring 3 Mile Ring 5 Mile Ring 2000 Total Population 11,525 74,606 191,791 2010 Total Population 12,616 90,434 216,661 2015 Total Population 13,481 96,370 229,108 2019 Total Population 13,983 101,881 240,103 Households Trend 2000 Total Households 3,825 21,459 56,197 2010 Total Households 4,059 25,371 62,257 2015 Total Households 4,251 26,388 64,382 2019 Total Households 4,356 27,538 66,644 Population Change Trend 2000 to 2010 Population Change 9.5% 21.2% 13.0% 2000 to 2015 Population Change 17.0% 29.2% 19.5% 2010 to 2019 Population Change 10.8% 12.7% 10.8% 2015 to 2019 Population Change 3.7% 5.7% 4.8% Household Change Trend 2000 to 2010 Household Change 6.1% 18.2% 10.8% 2000 to 2015 Household Change 11.1% 23.0% 14.6% 2010 to 2019 Household Change 7.3% 8.5% 7.0% 2015 to 2019 Household Change 2.5% 4.4% 3.5% 2015 Race White alone 44.6% 38.1% 43.1% Black or African American alone 8.0% 7.2% 5.9% American Indian and Alaska Native alone 1.4% 1.6% 1.9% Asian alone 18.8% 20.1% 16.2% Native Hawaiian and OPI alone.1%.2%.2% Some Other Race alone 21.9% 28.1% 28.0% Two or More Races 5.3% 4.7% 4.8% Average household size 3.1 3.6 3.5 Total Daytime Population 11,889 94,862 260,642 Total Employee Population 2,989 29,854 104,858 Total Daytime at Home Population 8,900 65,008 155,784 Total Employee Population (% of Daytime Population) 25.1% 31.5% 40.2% Total Daytime at Home Population (% of Daytime Population) 74.9% 68.5% 59.8% 1 Mile Ring 3 Mile Ring 5 Mile Ring 2015 Income Per Capita Income $19,513 $15,011 $14,772 Household Income: Median $43,679 $39,184 $37,965 Household Income: Average $60,814 $54,133 $51,914 Less than $10,000 10.5% 11.2% 11.2% $10,000 to $14,999 7.9% 8.6% 8.2% $15,000 to $19,999 7.0% 8.1% 8.1% $20,000 to $24,999 4.9% 6.2% 7.0% $25,000 to $29,999 6.1% 5.9% 6.6% $30,000 to $34,999 6.3% 6.2% 5.9% $35,000 to $39,999 3.6% 4.5% 4.9% $40,000 to $44,999 5.0% 5.0% 5.0% $45,000 to $49,999 4.3% 4.2% 4.7% $50,000 to $59,999 7.7% 7.3% 7.9% $60,000 to $74,999 10.0% 10.3% 9.3% $75,000 to $99,999 10.0% 9.7% 9.9% $100,000 to $124,999 7.6% 6.0% 5.3% $125,000 to $149,999 3.0% 2.4% 2.3% $150,000 to $199,999 3.2% 2.5% 2.1% $200,000 or more 2.8% 1.8% 1.5% Education 2015 Educational Detail % No Schooling Completed 6.5% 6.9% 7.1% % Nursery School to 4th Grade 1.1% 2.9% 3.2% % 5th and 6th Grade 2.7% 6.0% 5.9% % 7th and 8th Grade 1.9% 3.4% 3.8% % 9th Grade 1.3% 2.9% 3.2% % 10th Grade 1.8% 3.0% 3.0% % 11th Grade 3.7% 3.6% 3.7% % 12th Grade No Diploma 2.0% 2.8% 3.2% % High School Graduate, GED, or Alternative 24.8% 24.4% 24.0% % Some College <1 Year 6.4% 6.1% 6.1% % Some College 1+ Years No Degree 19.5% 16.4% 16.0% % Associate's Degree 9.1% 7.0% 6.7% % Bachelor's Degree 13.9% 10.8% 10.2% % Master's Degree 3.5% 2.6% 2.7% % Professional School Degree.7%.7%.7% % Doctorate Degree 1.0%.6%.5% 16

Financial Summary

Lease Abstract 625 S. Clovis Avenue TENANT DBA Perko s Cafe ADDRESS 625 S. Clovis Avenue, LEASE / RENT COMMENCEMENT January 1, 2012 LEASE EXPIRATION December 31, 2021 RENEWAL OPTIONS PERCENTAGE RENT TAXES, INSURANCE, MAINTENANCE Two (2) - Five (5) year options with rent adjusting to market in each option period 7% of Net Sales exceeding the base rent NNN; Landlord shall have no obligation ANNUAL INCREASES FOR BASE RENT PER YEAR Rent Period Annual Total 1/1/2012-12/31/2012 $60,000 1/1/2013-12/31/2013 $63,000 1/1/2014-12/31/2014 $66,000 1/1/2015-12/31/2015 $69,000 1/1/2016-12/31/2016 $72,000 1/1/2017-12/31/2017 $75,000 1/1/2018-12/31/2018 $78,000 1/1/2019-12/31/2019 $81,000 1/1/2020-12/31/2020 $84,000 1/1/2021-12/31/2021 $87,000 2015 Charles Dunn Company, Inc. These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including land use limitations. BRE Lic. #01201641 18

Confidentiality & Disclaimer 625 S. Clovis Avenue Charles Dunn Company has not made any investigation, has not verified, and will not verify, any of the information contained herein, and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided with respect to the following: The income or expenses for the Property The future projected financial performance of the Property The size and square footage of the Property (land and improvements) The presence or absence of contaminating substances, including PCB or asbestos The compliance with City, County, State, and Federal regulations The physical condition of the improvements on the Property The financial condition or business prospects of any tenant in the Property Any tenant s plans or intentions to continue its occupancy of the Property All prospective purchasers must take appropriate and independent measures to verify all of the information set forth herein above. NOTE: Prospective purchasers and their brokers (if any) may be required to sign a Confidentiality and Registration Agreement if there is an accepted offer in order to receive detailed information beyond the information contained in this Exclusive Investment Offering. They will both affirm that they have read and understand the details of the Confidentiality Agreement and Disclaimer contained in the Exclusive Investment Offering. The document will further state that the prospective purchaser s decision to buy the Property does not and will not rely on any information contained in this Exclusive Investment Offering or any information that is provided to them by Charles Dunn Company that is not specifically from the property s owner and deemed a part the official due diligence material. Brokers may be required to sign a Cooperating Broker Compensation Agreement at the beginning of negotiations on behalf of a prospective purchaser. Prospective purchasers and/or their brokers are required to contact the Listing Agents at the Charles Dunn Company for information about the Property They are not authorized to contact the Ownership or tenants regarding the Property. 2015 Charles Dunn Company, Inc. These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including land use limitations. BRE Lic. #01201641 19

625 S. CLOVIS AVENUE CONTACT JUSTIN D. MENDELSON Senior Director (310) 492-8413 jmendelson@charlesdunn.com Lic. #01877973 ASHLEY E. SAYE Associate (310)492-8406 asaye@charlesdunn.com Lic. #01955010 CHARLES DUNN COMPANY 1925 Century Park East Suite 2350 Los Angeles, CA 90067 Lic. #01201641 www.charlesdunn.com