Mission District Investment Opportunity

Sub-Market: Potrero West of 101 Freeway
Class:

Adare Properties (the “Owner”) has retained Starboard TCN Worldwide Commercial Real Estate as its exclusive sales representative for Thrift Town Complex, a multi-building office, retail and light industrial complex located at 2101-2129 Mission Street, San Francisco, California 94110, (the “Property”).

The following offering consists of two parcels:

Parcel A:
2101-2129 Mission Street.
3265 17th Street.

Parcel B:
222 Capp Street. (A paved parking and loading area is accessed on Capp Street providing parking for 22 cars together with four loading dock-height).

The Seller has established an asking price of $15,000,000. Only all cash to seller offers will be considered. The Complex will be delivered 100% leased with Thrift Town as the anchor tenant and a significant future upside as existing leases roll over for the new owner.

- Price $15 million, $121PSF, 6.64% cap on year 1 NOI

- Exit value after a 10 year hold based on 6.5% cap on year 11 NOI is $33 million.. equals more than 100% price appreciation

- All cash IRR for a 10 year hold is 15.56%

For a full offering memorandum, please fill out the attached Confidentiality Agreement and fax back to (415) 956-2003 or email it to yoav@starboardnet.com

Property tours are available upon request. To schedule a property tour or to request additional information, please contact the individual listed below.