Confidential Offering Memorandum

SWC of Limonite Avenue & Corey StreetJurupa Valley, California

Single Tenant Autozone

FOR SALE*photo is not of actual property but similar Autozone

Offering SummaryAutoZone

SWC of Limonite Avenue & Corey StreetJurupa Valley, California

Offering Price:Cap Rate:Annual NOI:Property Type:Building Area:

$1,975,0004.1%$80,004Fee Simple Ground Lease±7,380 SF

Land Area: ±1.22 AC / ±53,143 SFParcel: 163-021-037-000Year Built: 2021Zoning: C-P-S (Scenic Highway Commercial)Parking: 38 Spaces

Overview

Autozone on a fee simple ground

lease located at the Southwest corner of Limonite Avenue and Corey Street in Jurupa Valley, California. The building is situated off a primary thoroughfare, Limonite Avenue, with close proximity to other national tenant retailers, including Walmart and the 99 Cents Only Store. The site is in close proximity to the 15 Freeway and Van Buren, two major commercial corridors. This is a rare opportunity to acquire a stable commercial investment market in Southern California.

Investment Summary

*photo is not of actual property butsimilar Autozone

» Fee Simple Ground Lease

» Single tenant building 100% occupied by AutoZone, aNational Credit Tenant

» S & P Rated BBB Investment Grade Credit - NYSE: AZO

» Located adjacent to other National Credit Tenant retailers

» Highly visible from primary thoroughfare, LimoniteAvenue

Investment Highlights

-0.11(-0.11%)

AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the U.S. They sell auto and light truck parts, chemicals and accessories through AutoZone stores in 50 U.S. states plus the District of Columbia, Puerto Rico, Mexico and Brazil. We also sell automotive diagnostic and repair software through ALLDATA, diagnostic and repair information through alldatadiy.com, and auto and light truck parts and accessories through AutoZone.com

Address SWC of Limonite Avenue & Corey Street Jurupa Valley, California

Parcel Size ±53,143 SF (1.22 AC)Lease Commencement August 1, 2022Lease Expiration July 31, 2037Original Lease Term 15 YearsNet Operating Income (2022) $6,667.00/month or $80,004/year

Next Increase Years 11 - 15 $84,000

Options to Extend Four (4) of 5 Years

Option Rental Increase

Fixed 1st Option $88,200/year

2nd Option $92,610/year 3rd Option $97,240.50/year

4th Option $102,102.60/year

Tenant Pays Taxes, Insurance, Maintenance, Utilities, Roof, Wall, Structure & Parking Lot

Lease Type Fee Simple Ground LeaseGuarantor Corporate - NYSE: AZOFirst Right of Refusal NoLandlord Expense None

LEASE ABSTRACT

*Seller will credit buyer from the close of escrow until commencement of rent by Auto Zone, themonthly rent and NNN charges. The property has been turned over to Auto Zone to commenceconstruction.

Tenant Profile

*photo is not of actual property but similar Autozone

» Stores typically range from 6,500 to8,000 SF

» Lease spaces must include anabundance of uncongested,customer-friendly parking spaces

» Require upfront, high-impactlocations with excellent visibility andaccess from adjacent streets

» Land parcels for new constructionmust accommodate between 25 and50 parking spaces

New Developments

Newly Developed Single Tenant Autozone

Floor Plan

LIMONITE AVE.

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LEGEND

DATA SUMMARY

PARKING SUMMARY

PROJECT TEAM

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Scale:1 FRONT ELEVATION - NORTH

1/8"=1'-0" 0 4' 8' 16'

21'-0"

0'-0"

2'-6"

0 4' 8' 16'Scale:4 RIGHT ELEVATION - WEST

1/8"=1'-0"

0 4' 8' 16'Scale:3 REAR ELEVATION - SOUTH

1/8"=1'-0"

0 4' 8' 16'Scale:2 LEFT ELEVATION - EAST

1/8"=1'-0"

21'-0"

12'-2"

0'-0"

2'-6"

12'-2"

0'-0"

2'-6"

1234

21'-8"

0'-0"

21'-0"

21'-0"

0'-0"

4'-0"

11'-0"

2'-6"

ROUGH SAWN POSTSAND BRACES.PT.SW6083 SABLE

STONE VENEERPOST WRAPS

ALUMINUM STOREFRONTSYSTEM BRONZE FINISH

STUCCO FINISH. PTSW6091 RELIABLEWHITE

FIXED BARN DOORSTYLE SHUTTERS.PT. SW6088

ROLL UP DELIVERY DOORFACTORY GRAY FINISH. PT.ANGLES SW6088

ROUGH SAWN POSTSAND BEAM. PAINTSW6083 SABLE

BOARD AND BATTENSIDING. PT. SW6091RELIABLE WHITE

HVAC UNITS SCREENEDBY PARAPETS (TYP)

MATERIALS AND FINISHES

BOARD AND BATTEN SIDING: PT. SW6091 RELIABLE WHITE

HARDIE TRIM FASCIA AND CORNICE: PT: SW6088 NUTHATCH

STUCCO FINISH: SAND TEXTURE - PT: SW6091 RELIABLE WHITE

ROUGH SAWN POSTS AND BEAMS: PT: SW6083 SABLE

FIXED BARN DOOR SHUTTERS: PT SW6088 NUTHATCH

METAL ROOFING: UNACLAD SILVER METALLIC, FRAMES SW6083 SABLE

STORE FRONT SYSTEM: MANFACURER'S BRONZE

STONE VENEER: CULTERED STONE VENEER-CARMEL COUNTRY LEDGSTONE

CMU BLOCK: SPLITFACE - SW6088 NUTHATCH

ROUGH SAWN 2x12's@ 24" O.C. PT SW6083

10'-0"

ROUGH SAWN 2x12's@ 24" O.C. PT. SW6083SABLE

10'-0"

SPLIT FACE CMU BLOCKSW6088, NUTHATCH

11'-0"

2'-6"

0'-0"

24'-0"

27'-0"

24'-0"

27'-0"

11'-0"

PARAPET TRIM.MANUFACTURESDARK BRONZE

PROJECTED TRIM, HARDIE TRIMPT. SW6088, NUTHATCH

STUCCO FINISHSW6091 RELIABLE WHITE

PARAPET TRIM. MANUFACTURESDARK BRONZE

HARDIE TRIM BOARDSPT. SW6088, NUTHATCH

SPLIT FACE CMUBLOCK SW6088,NUTHATCH

PROJECTED TRIM, HARDIETRIM PT. SW6088, NUTHATCH

FIXED BARN DOORSTYLE SHUTTERS.PT. SW6088

HARDIE TRIM FRAMES PTSW6088 WITH SW6086ACCENT COLOR INSIDE

PARAPET TRIM.MANUFACTURESDARK BRONZE

METAL AWNING.UNA-CLAD SILVERMETALLIC. FRAMESW6083 SABLE

WALL PAKLIGHTING

PARAPET TRIM. MANUFACTURESDARK BRONZE

HARDIE TRIM BOARDSPT. SW6088, NUTHATCH

BOARD AND BATTENSIDING. PT. SW6091RELIABLE WHITE

WALL PAK LIGHTING

ALUMINUM STOREFRONTSYSTEM BRONZE FINISH.DOORS CLEAR ANODIZED

METAL AWNING.UNA-CLAD SILVERMETALLIC. FRAMEPT SW6083 SABLE

HARDIE TRIM BOARDSPT. SW6091

SPLIT FACE CMUBLOCK SW6088,NUTHATCH

PT. MAN DOORS ANDFRAMES SW6088

PROJECTED TRIM,HARDIE TRIM PT.SW6088, NUTHATCH

HARDIE TRIM FRAMES PTSW6088 WITH SW6086ACCENT COLOR INSIDE

PARAPET TRIM.MANUFACTURESDARK BRONZE

TRIM AND FINISH TO WRAPAROUND REAR OF PARAPETDOWN TO 21'-0"

TRIM AND FINISH TO WRAPAROUND REAR OF PARAPETDOWN TO 21'-0"

SPLIT FACE CMUBLOCK SW6088,NUTHATCH

PT. MAN DOORS ANDFRAMES SW6088

RED PLASTICBOLLARD COVERS

PROJECTED TRIM,HARDIE TRIM PT.SW6088, NUTHATCH

PARAPET TRIM.MANUFACTURESDARK BRONZE

HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH

HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH

HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH

HARDIE TRIM BOARDSAT CORNICE. PT. SW6088NUTHATCH

STUCCO FINISHSW6091 RELIABLE WHITE

STUCCO FINISHSW6091 RELIABLE WHITE

0'-0"

STUCCO FINISHSW6091 RELIABLE WHITE

WALL PAKLIGHTING

WALL PAKLIGHTING

40" TALL CHANNEL LETTERSAND STRIPES

BOARD AND BATTENSIDING. PT. SW6091RELIABLE WHITE

40" TALL CHANNEL LETTERSAND STRIPES

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VISIT US ON THE INTERNETFor new store development:www.autozonerealestate.com

© 2020 AutoZone, Inc. All Rights Reserved. AutoZone and AutoZone & design are registered marks of AutoZone Parts, Inc.

Member ofInternational Councilof Shopping Centers

PROTOTYPICAL SITE PLAN EXAMPLES

For surplus properties:www.autozoneexcessproperty.com

Rev. 11.16.20

+ Stores typically range from 6,500 square feet to 8,000 square feet

+ Must accommodate between 25 and 40 uncongested,customer- friendly parking spaces

+ We require up-front,high-impact locations with excellent visibility and access from adjacent streets

Jurupa Valley, California

The City of Jurupa Valley today is a mix of high and low-density residential development, rural farming and other agricultural activities, and a mix of commercial retail and industrial activity. Two primary transportation corridors traverse the Jurupa Valley area, Interstate 15 which runs north and south, and State Highway 60, which runs east and west. It has been in recent years that residential development and economic activity has increased, in particular in the areas adjacent to the I-15 and Highway 60. The pro-growth city has significant capacity for expansion of both residential and commercial development activity in the future.

Development Pipeline for Jurupa Valley

1. 397 market rate multi-family housing units by Bridge Development in the south west portion of thecity, south of the Vernola Marketplace Shopping Center. Constuction expected to be completedover the the next 24 months.

2. 600 single family detached homes on Limonite Avenue (on the site of a former golf course) RichmondAmerican Home is building Phase I of 107 single family homes. Expected completion 24 months

3. 400 single family homes are under construction by Lennar Homes in the Shadow Rock masterplanned community area of the city. Expected completion in phases over the next 24 months.

4. CT Realty Partners is under construction of 4.2 million SF of industrial in the Ribidoux area of JurupaValley on the former Riverside Cement Plant.

(Source: https://www.jurupavalley.com/)

SUBJECT PROPERTY

SUBJECT PROPERTY

Area Overview

LIMONITE AVE.

CO

REY

ST.

AUTO

ZON

E36

20PR

EPAR

ED F

OR

JUR

UPA

VAL

LEY,

CA

©

LEGEND

DATA SUMMARY

PARKING SUMMARY

PROJECT TEAM

PREL

IMIN

ARY

SITE

PLA

N

NORTH