AROADSIDE

HILLS

PREMIERDEVELOPMENTOPPORTUNITY

AROADSIDE

HILLS

GOURA

GOURA

45,000 SFOFFICESPACE

AG

OU

RA

RD

ROADSIDE DR

LEWIS RD

DOROTHY DR

1PROPERTY OVERVIEW

PRESENTED BY

Lonnie McDermottFirst Vice President InvestmentsSenior Director, National Land GroupTel: (818) 212-2745Mobile: (818) 577-8904Fax: (818) 212-2710Lonnie.Mcdermott@marcusmillichap.comLicense: CA: 01874375

2

AREA OVERVIEW

3COMPARABLES ANALYSIS

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AROADSIDE

HILLSGOURA

DEVELOPMENT FINDINGS

ROADSIDE DR

LEWIS R

D

Meir Mark FrydmanThe Frydman Group, KW CommercialManaging Director, National Multihousing GroupTel: (310) 300-4844Mobile: (818) 462-3424Fax: (818) 975-5319Meir@FrydmanGroup.comLicense: CA 01910722

AROADSIDE

HILLSGOURA

AGOURA HILLSwestlake village

270,000 SFFLEX SPACE

AVALONOAK CREEK

336 unitsbuilt 2004

28338 ROADSIDE

A high-profile development opportunity in Agoura Hills, CA.The McDermott Group of Marcus & Millichap and The Frydman Group of KW Commercial are pleased to market for sale 28338 Roadside Drive, a high-profile development opportunity located on the south side of Roadside Dr. in the affluent city of Agoura Hills, CA. This unique development opportunity is comprised of 0.83 Acres or approximately 36,161 square feet of vacant land.

28338 Roadside Drive is ideally positioned in the affluent city of Agoura Hills, CA, which lies in the Easternmost side of the desirable Conejo Valley and the Westernmost region of Los Angeles County. The immediate area boasts high-end demographics, high barriers to entry, and strong market fundamentals. The property is located just off the Ventura (101) Freeway with excellent frontage on Roadside Dr and potential visibility from the freeway, Conveniently located in the center of a broad range of employment and retail options, the Roadside Drive property is sur-rounded by affluent high-end neighborhoods, one of the finest shopping malls in the United States (The Oaks Mall), and the numerous commer-cial businesses centers of Agoura Hills, Westlake Village and Thousand Oaks.

The Roadside Drive property falls within the City of Agoura Hills General Plan under the Commercial Retail/Service (CRS) land use district. The land use district and General Plan allow for a 0.4:1 FAR. The General Plan allows for a variety of “By-Right” development options, including service and repair facilities, small offices, medical/dental, hardware and building materials stores, auto and accessories dealers, appliance outlets, etc. Office uses are also permitted in areas designated for Commercial Retail/Service.

Agoura Hills is a city in Los Angeles County, California. Its population is estimated to be at 20,843. It is in the eastern Conejo Valley between the Simi Hills and the Santa Monica Mountains. The city is on the border between the county of Los Angeles to the east, west and south and Ventura County to the north. It is about 30 miles northwest of Downtown Los Angeles and less than 10 miles west of the Los Angeles City limits (Woodland Hills). Agoura Hills and unincorporated Agoura sit next to Calabasas, Oak Park, and Westlake Village.

EXECUTIVE SUMMARY

2.5MILLION SFof high-end retail and entertainment including The Oaks, Promenade at Westlake, Whizin Square Market, and the Canwood Shopping Strip

CONEJO VALLEY

corporate headquartersin Thousand Oaks and Westlake Village

100+8MILLION SF

of office buildings in the Conejo Valley

$975KMedian Home Value in Agoura Hills, Westlake Village, and Calabasas

$150KAverage household income within 5 mile radius

54%Population with Bachelor’s degree or higher

PROPERTY OVERVIEW

Address 28338 Roadside Dr, Agoura Hills, CA 91301

Price $995,000

Land SF 31,161 SF

Land Acres 0.83

Price / SF $31.93

Zoning AH CRS-FC

APN 2061-009-075

PROPERTY INFORMATION

DEVELOPMENT INFORMATION

Development Options

General Plan

Land Use District

FAR

Option 1: Assisted Living FacilityOption 2: Office Building DevelopmentOption 3: Single-Tenant RetailOption 4: Educational / Child Care

City of Agoura Hills

Commercial Retail/Service (CRS)

0.4:1

ROADSIDE DR

LEWIS R

D

VACANT LOT 0.83 ACRES 31,161 SF

ZONED AH-CRS-FC

28338 ROADSIDE DR - SITE INFORMATION INVESTMENT HIGHLIGHTS

Prime Agoura Hills Location

High-profile demographics

Surrounded by affluent neighborhoods

Central to retail and major employers

Convenient access to Ventura (101 Freeway)

High Barriers to Entry

High demand for commercial development

ROADSIDE DR

LEW

IS RD

28338 Roadside Dr,Agoura Hills, CA 91301

The subject property is located on the south side of Roadside Dr

Option 1: A 2-story, 35,000 square foot assisted living facility consisting of 45 dwelling units and 56 total beds (upon pur-chase of adjacent parcel)Option 2: “By-Right” Office DevelopmentOption 3: “By-Right” Single-Tenant Retail DevelopmentOption 4: “By-Right” Child Care/Educational Facility

The total land square footage is 31,161 square feet.

Prime frontage along Roadside Dr and convenient accessfrom visibility from Ventura (101) Freeway

Subject Property is zoned AH CRS-FC

LOCATION

SITE

CONCEPTUAL DEVELOPMENT

SQUARE FOOTAGES

FRONTAGE AND ACCESS

ZONING

OPTION TO COMBINE ADJACENT PARCEL

BUYER BENEFITS

ROADSIDE DR

The offering includes the unique investment opportunity to purchase the adjacent parcel, a development site comprised of 0.785 acres or approximately 34,180 square feet of vacant land. This investment option provides a substantially larger development site comprised of a combined total of 1.50 acres or approximately 65,341 square feet.

EXECUTIVE SUMMARY

Address 28338 Roadside Dr, Agoura Hills, CA 91301

Price $1,595,000

Land SF 65,341 SF

Land Acres 1.50

Price / SF $24.41

Zoning AH CRS-FC

APNs 2061-009-075 | 076 | 077

1.50 Acre Development Site (approximately 65,341 square feet)

Over 150 feet of frontage along Roadside Drive

$24.41 per square foot

Highest Investment Use

Excellent visibility from Ventura (101) freeway

All utilities to the site

DEVELOPMENT OPTION 1: ASSISTED LIVING

*Upon Purchase of Adjacent ParcelUnder the zoning (AH-CRS-FC) and land use designation, a conceptual assisted living facility (nursing home, memory care, congregate living, skilled nursing facility) consisting of up to 45 dwelling units and 56 total beds is permitted upon the purchase of adjacent parcel.

30K65 Y.0 Population in Conejo Valley

56Total Beds

35KGross Buidling Sq. Ft

DEVELOPMENT OPTION 2: OFFICE BUILDING

0.4:1Floor Area Ratio

35 ft.Maximum Building Height

“By-Right” Development

The zoning (AH-CRS-FC) and general plan land use district (Commercial Retail / Service) allow for a “By-Right” office building development as one of the permitted uses within the district. Roadside Driveis home to a plethora of office buildings, making this type of development a suitable option for the immediate area. The City of Agoura Hills General Plan 2035 calls for a floor area ratio of 0.4 : 1 and a maximum building height of 35 ft. for the Commercial Retail / Service land use district.

A “By-Right” Office Development Opportunity

Building Concept

DEVELOPMENT OPTION 3: SINGLE-TENANT RETAIL

The zoning (AH-CRS-FC) and general plan land use district (Commercial Retail / Service) allow for a “By-Right” single-tenant retail development as one of the permitted uses within the district. The district and immediate area is comprised of several single-purpose retail stores, such as the Furniture District on Canwood and along Roadside Drive west of the Subject Property. The City of Agoura Hills General Plan 2035 calls for a floor area ratio of 0.4 : 1 and a maximum building height of 35 ft. for the Commercial Retail / Service land use district.

A “By-Right” Office Development Opportunity

Commercial Retail/Service (CRS)The Retail/Service category includes miscellaneous retail and service uses for which a shopper in general makes a single-purpose visit to one establishment. Such uses include service and repair facilities, small offices, medical/dental, hardware and building materials stores, auto and accessories dealers, appliance outlets, etc.

Commercial Retail/Service (CRS)

DEVELOPMENT OPTION 4: EDUCATIONAL/CHILD CARE

Due to market demands, The City of Agoura Hills General Planhas allowed for Educational or Child Care facilities as permitteduse within the Commercial Retail / Service land use district. Such development would fill a demand for these types of facilities forthe immediate area, making for a seamless transition to approval by The City of Agoura Hills.

A “By-Right” Office Development OpportunityConcepts

DEVELOPMENT FINDINGS

GENERAL PLAN

The updated Agoura Hills General Plan has been prepared in compliance withthe requirements of California Government Code Section 65300 et seq. The Planis a policy document and much of its content is established by statutory requirements relating to background data, analysis, maps, and exhibits. The legal adequacy of the General Plan is critical, since many City actions and programs are required to be consistent with the Plan. The general plan must address the seven topics (referred to as “elements”) of land use, circulation, housing, open-space, conservation, safety, and noise(California Government Code Section 65302), to the extent that the topics are locally relevant. It may also include other topics of local interest, as chosen by the local jurisdiction (California Government Code Section 65303). Legislative changes integrated two elements presented in the previous Agoura Hills General Plan, Scenic Highways and Safety, into the Circulation and Safety Elements respectively.

City of Agoura Hills General Plan

Commercial Retail / Service DistrictThe Retail/Service category includes miscellaneous retail and service uses forwhich a shopper in general makes a single-purpose visit to one establishment.Such uses include service and repair facilities, small offices, medical/dental,hardware and building materials stores, auto and accessories dealers, applianceoutlets, etc. Office uses are also permitted in areas designated for CommercialRetail/Service

AROADSIDE

HILLSGOURA

POTENTIAL DEVELOPMENT CONSTRAINTS

Los Angeles County Fire Department1. Provide a minimum unobstructed width of 26 feet , except for approved security gates in acordance with Section 503.6 and an unobstrcucted vertical clearance “clear to ky” Fire Department vehicular access to within 150 feet of all portions of the exterior building walls. (Fire Code 503.2.1)

Action Required: Cross-hatch the Fire Department vehicle access from proposed structure to the public roadway on the site plan.

2. Dead-endfire apparatus access roads in excess of 150 feet in length shall be provided with an approved Fire Department turnaround. (Fire Code 503,2.5)

Action Required: Cross-hatch the Fire Department turnaround on the site plan. (Maximum allowable slope is 2%)

3. Fire Department vehicular access roads shall be provided with a 32 foot centerline turning radius. (Fire Code 503.2.4)

Action Required: Indicate the centerline, inside and outside turning radii for each change in direction on the site plan.

4. The gradient of Fire Department vehicle access roads shall not exceed 15% unless approved by the fire code official (Fire Code 503.2.7)

Action Required: Indicate the grade in percentage of the Fire Department access roadway on the site plan.

5. A minimum 5 foot wide approved firefighter access walkway leading from the fire apparatus access road to the buildings exterior openings shall be provided for fire fighting and rescue purposes (Fire Code 504.1)

Action Required: Indicate firefighter walkway access routes on the site plan. (Walking access must be unobstructed and clear to the sky) (Indicate the slope along the walking access route)

6. Grade break shall not exceed the maximum angle of approach or departure for Fire Department apparatus.

Action Required: Provide roadway profile and indicate angle of approach and departure at changes in grade.

Construction and Land Use Within or Adjacent to High Voltage Transmission Lines

A. Purpose: Structures underneath and adjacent to high voltage transmission lines present increased hazards to firefighters and the general public. The purpose of this regulation is to establish consistent requirements for the construction of new perma-nent structures, existing structures, and other secondary land uses within or adjacent to high voltage transmission line easements.

B. Scope: This regulation shall apply to existing and future proposed secondary land use within or adjacent to high voltage transmission line easements.Exception: One and two family residential dwellings adjacent to the high voltage transmission line utility easement are exempt from this regulation.

C. Authority: The Deputy Chief of the Prevention Services Bureau, through the As-sistant Fire Chief (Fire Marshal) of the Fire Prevention Division, is responsible for the content, revision, and periodic review of this regulation.

D. Authority: Section 503 of the Los Angeles County Fire Code empowers the Fire Code Official to set specifications for fire access, including overhead obstructions to fire access. Section 101.3, 102.8, and 104.1 of the County of Los Angeles Fire Code establish the legal basis to create regulations for the Fire Code Official to render inter-pretations of the Fire Code, and to enforce supplemental rules and regulations in order to carry out the scope and intent of the Fire Code which includes firefighter safety.

E. Definitions: 1. Adjacent to a High Voltage Transmission Line Easement: A 100-footwidearea adjacent to and parallel with the drip line of the most outward high voltage trans-mission line.2. Combustible Materials: A liquid or solid substance that can ignite and can burn readily.3. High Voltage Transmission Line: Electric power transmission line operating at or above 66 kilovolts.4. New Permanent Structure: Any structure to be erected for more than 180 days/year.5. Passenger vehicle is defined as a sedan type automobile, small utility truck, sport utility vehicle, van or mini-van with a gross vehicle weight of 10,000 pounds or less.6. Recreational vehicle and its derived acronym, RV, refers to an enclosed piece of equipment dually used as both a vehicle, a temporary travel home, or a full time home.7. Secondary Land Use: Includes all land uses other than the transmission of power.

Introduction Procedures

A. Code Application:1. No new permanent structures shall be constructed within the utility easement underneath high voltage transmission lines.Exception: Restrooms and unoccupied telecommunication structures of non-combustible con-struction less than 15 feet in height.2. New and existing structures under High Voltage Transmission Lines constructed prior to this regulation shall be:a. Grounded and bonded in accordance with CCR Title 24, Part 3, Article 250, ANSI/IEE 142-1991. Additionally, buildings shall be fully bonded from roof to foundations and connected to the premise’s grounding system.b. Provided with approved signage reading “CAUTION – HIGH VOLTAGE LINES OVERHEAD,” at all entrances.c. In compliance with all vegetation management requirements of the Fire Code.d. Subject to additional Fire Department requirements.3. Any structure which is proposed to be constructed adjacent to High Voltage Transmission Lines (within 100 feet of drip line) shall be subject to additional review with regard to Fire Department Operational Procedures.Exception: One and two family residential dwellings (R-3) adjacent to the high voltage trans-mission line utility easement.B. Approved secondary use(s):1. New and/or existing agricultural and recreational use may continue as long as the above requirements are met.2. New and/or existing outside storage of combustible materials is subject to the following requirements:a. Provide an approved storage configuration plan.b. Storage of hazardous materials, including flammable and combustible liquids, is prohibited.c. Combustible storage shall be restricted to individual piles not exceeding 5,000 square feet or 50,000 cubic feet in volume.d. A clear space of at least 20 feet or half the height of the pile, whichever is greater, shall be provided between piles. The clear space shall not contain flammable or combustible material or vegetation.e. Required on-site hydrants shall be spaced at a maximum of 600-foot intervals.

POWER LINE

ADJACENT PARCELAVAILABLE FOR SALE

CURRENT CONDITION - HIGH VOLTAGE TRANSMISSON LINE POWER LINE

ADJACENT PARCELRequired ActionAs per the procedures outlined by The City of Agoura Hills in regards to construction and land use within or adjacent to high voltage transmission lines, the current power line on the subject property and adjacent parcel as shown in the outline must be moved in order to maximize the site’s development footprint and meet the requirements of the city. The available options are provided below:

Option 1: Power line to be moved to another portion of the site, allowing for requireddistance between power line and new building construction.

Option 2: Power line to be undergrounded, maximizing the site’s development footprint and preventing increased hazards to firefighters and general public.

Option 3: Build project with a minimum 100 foot setback from the power line with fire department access through rear of property.

EASEMENTS

1

23

1. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: City of Agoura

Purpose: Sewer and Water facilities, including access and aerial and underground communication facilities

2. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: City of Agoura

Purpose: Equestrian and hiking trail

3. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Purpose: Poles or Conduits

COMPARABLES ANALYSIS

MARKET COMPARABLES - LANDADDRESS COE DATE PRICE ZONING USE LAND (SF) $ / SF

28251 Dorothy Dr,Agoura Hills, CA 91301

ON MARKET $5,200,000 AH CRS-FC Commercial 126,324 SF $41.16

28115 Agoura RdAgoura Hills, CA 91301

ON MARKET $2,800,000 BP, O, R, FC, OA, AH

Commercial 78,016 SF $35.89

29621 Agoura Rd,Agoura Hills, CA 91301

ON MARKET $7,875,000 BP-M-FC Commercial 225,205 SF $34.97

0 Dorothy RdAgoura Hills, CA 91301

ON MARKET $1,074,990 AH CRS-FC Commercial 35,832 SF $30.03

28266 Dorothy Dr,Agoura Hills, CA 91301

10/27/16 $340,000 AH CRS-FC Commercial 11,761 SF $28.91

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AGOURAHILLS

ROADSIDE

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MARKET COMPARABLES - LAND

$5.00

$10.00

$15.00

$20.00

$25.00

$30.00

$35.00

$40.00

$45.00

$50.00PRICE / SF

1 2 3 4

$0.25M

$0.5M

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$1.75M

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$2.25M

$2.50MPRICE / ACRE

1 2 3 428338 ROADSIDE

28338 ROADSIDE

AVG: $34.19

AVG: $1.55M

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AREA OVERVIEW

CONEJO VALLEY AGOURA HILLS

One of the most affluent areas in the United States A high-end family-oriented community The Conejo Valley is one of the most affluent areas in the country. It was ranked as one of the top 100 places to live in the country by Money Magazine. The Conejo Valley is a stunning area surrounded by rolling hills, majestic oak trees, and open space. The valley is located about an hours drive north from Downtown L.A., 45 minutes south of Santa Barbara, and about 30 minutes east of Malibu and the ocean. The Valley is an ideal location to live, work, and visit.

The Conejo Valley is made up of five main towns/cities: Westlake Village, Thousand Oaks, Oak Park, Agoura Hills, and Newbury Park. Lake Sherwood, which is its own unincorporated community, is also part of the Conejo Valley as well as a portion of the city of Calabasas.

Boasting some of the finest weather in the country, the area provides a sunny, mild climate with the perfectly-timed ocean breeze. With average winter temperatures in the mid-50s, average summer temperatures in the mid-70s and 347 days of California sunshine a year, the Conejo Valley is an ideal place to live, work and visit. The people of Conejo Valley cherish the perfect combination of small town living and world-class industry, shopping and recreation in their own backyard.

Many high-tech companies, particularly those in biotechnology, including Amgen, Baxter, General Dynamics Corporation, and Rockwell International are prevalent in the area. It also includes many other tech corporations, especially dot com companies and telecommunications like Verizon and Verizon Wireless. It also is home to many healthcare and other various companies like WellPoint, J.D. Power and Associates, Volkswagen, Audi, THQ, SAGE Publications, MacTech and JAFRA Cosmetics

$104,000Average Household income

140,000Daytime Population within 5-m radius

54%Bachelor’s Degree or higher

Nestled at the northern edge of the beautiful and serene Santa Monica Mountains and the southern edge of the rolling Simi Hills, the City of Agoura Hills is a very quiet, friendly and family-oriented community. Boasting some of the few paths through the breathtaking Santa Monica Mountains to the paradise beaches of Malibu, and a carefully planned layout to maintain a harmonious balance between residential and business development, Agoura Hills is the ideal location for both raising a family and starting or growing a business. Once known as Picture City, Agoura Hills was the filming site for myriad western movies, including “Gunsmoke” (1931), “The Virginian” (1946) and “Gunfight at the OK Corral” (1957). Following the dozens of western movies filmed here, a host of the most classic of T.V. shows including “The Rifleman,” “The Dukes of Hazard,” and “CHPS” were filmed in the rustic hills and winding streets of Agoura. Today, the hills are quieter without the filming, but the streets are still driven by many of today’s actors and celebrities who call Agoura Hills home. Today, visitors can see the props and history of Agoura Hills’ Picture City days with free admission to Paramount’s “Movie Ranch.” With the quiet neighborhoods and rich history, Agoura Hills is among the most coveted areas to live in the U.S. and hosts the popular Great Race of Agoura. It is listed as one of SafeWise 50 Safest Cities, and has earned that reputation over years. Located just a short drive from the booming commercial areas and nightlife of Los Angeles, the thriving business districts and attractions of Thousand Oaks, and the world-renowned beaches and wineries of Malibu, work and play are never far away.

SHOPPING AND RETAIL

THE OAKSThe Oaks Shopping Center is a two-level indoor/outdoor, super-regional shopping mall located in Thousand Oaks, California. It is owned and managed by Macerich. Accessible from the US Highway 101 Ventura Freeway midway between downtown Los Angeles and Santa Barbara, it is one of two malls in its area (competing with the Simi Valley Town Center) and the largest shopping center in Ventura County.The 1,300,000-square-foot (120,000 m2) mall was originally built in 1978 and was renovated in 1993. Starting in February 2007, the center has undergone an extensive upgrade including interior finishes, restrooms, entrance canopies and skylights to reflect a modern Spanish and Santa Barbara-influenced design. The expansion includes a demolition of the then-vacated Broadway building and a Muvico 14-screen stadium seat theater and Bogarts, a full-service restaurant, built in its place. Additional features include a 10-unit Spanish Dining Hall and amenities like family restrooms with granite, stacked flagstone and limestone tile. Centered on the theatre are four sit-down restau-rants: Lazy Dog Cafe and Red Robin, which are both connected to a 112,330-square-foot retail expansion in an outdoor environment, while Olive Garden and Red Lobster are located across the parking lot. The Cheesecake Factory is located inside the Shopping Center with patio dining available

All within a short drive from 28338 Roadside Dr,

the Conejo Valley offers some of the finest retail centers

in the United States. The centers offer high-end retail, fine

dining, and community gatherings that have become long-

lived staples in the Conejo Valley.

THE COMMONS AT CALABASASThe Commons at Calabasas is an upscale retail and entertainment complex in Calabasas, California, United States, built, owned, and operated by Rick J. Caruso and his company Caruso Affiliated. It has now become a tourist destination as celebrities, such as Kim Kardashian, are frequently seen at the high-end shopping center.Development of the upscale retail and entertainment complex began with a vision of an Umbrian village, complementing the community’s dominant Mediterranean style. Carusco Affiliated did not just want to build a shopping center, but a town center for the city of Calabasas. The Commons at Calabasas opened in 1998 and has been a popular high-end outdoor mall ever since. The 215,000-square-foot (20,000 m2) outdoor market-place is located in Calabasas’ Calabasas, California in Los Angeles County. Caruso Affiliated claims the design resembles a Tuscan hill town of the Umbria region in rural Italy, renovated to be a retail resort. Its 40 tenants

provide everyday needs, lifestyle/specialty shops, and entertainment.

PROMENADE AT WESTLAKEThe Promenade (formerly the Westfield Promenade) is a large dead shopping mall owned by Westfield Group and located on Topanga Canyon Boulevard in the Woodland Hills district of Los Angeles. It was previously known as The Promenade at Woodland Hills and Westfield Shoppingtown Promenade. The mall is anchored by a 16-screen AMC Theatre. By 2015, Westfield removed the property from its corporate website and had removed the Westfield name from all signage on the property and officially changed the name of the property to The Promenade. In October 2016, Westfield officially announced that the mall is going to be demolished and replaced by a new $1.5 billion residential development called Promenade 2035.

AROADSIDE

HILLS

AROADSIDE

HILLS

GOURA

GOURA

45,000 SFOFFICESPACE

AG

OU

RA

RD

ROADSIDE DR

LEWIS RD

DOROTHY DR

Lonnie McDermottFirst Vice President InvestmentsSenior Director, National Land GroupTel: (818) 212-2745Mobile: (818) 577-8904Fax: (818) 212-2710Lonnie.Mcdermott@marcusmillichap.comLicense: CA: 01874375

Meir Mark FrydmanThe Frydman Group, KW CommercialManaging Director, National Multihousing GroupTel: (310) 300-4844Mobile: (818) 462-3424Fax: (818) 975-5319Meir@FrydmanGroup.comLicense: CA 01910722