Page 22 - Solana101_OfferingMemorandum_GSP

MARKET COMPARABLES

OFFICE LEASE

PROPERTY ADDRESS CITY TENANT SF MONTHS EFF RENT TYPE TIS / SF DATE
-- 16909 Via De Santa Fe Rancho Santa Fe Compass 2,540 65 $6.15 Net of E $10.00 Mar-18
One Paseo 12860 El Camino Real San Diego Compass 22,476 138 $6.26 Net of E $85.00 Nov-18
One Paseo 12830 El Camino Real San Diego JP Morgan Chase 16,134 126 $6.04 Net of E $80.00 Mar-19
One Paseo 12830 El Camino Real San Diego Arcadia Pharmaceuticals 67,020 129 $5.89 Net of E $85.00 Oct-18
-- 330 S Cedros Ave Solana Beach -- -- 63 $5.45 NNN $7.00 Jan-20

-- 682 S Coast Hwy 101 Encinitas Compass 2,052 60 $5.26 NNN $36.55 Jun-19
Torrey Point 3430 Carmel Mountain Rd San Diego RSM 13,525 98 $5.11 Net of E $90.00 Aug-18
-- 2121 Newcastle Ave Cardiff The Familie V2 1,700 48 $5.11 FSG $0.00 Jul-19
-- 120 S Sierra Ave Solana Beach Kelly Slater Wave Company 7,500 60 $4.96 Net of E $75.00 Mar-17
AVERAGE -- -- -- 16,618 87 $5.58 -- $52.06 --
Solana 101 Hwy 101/Dahlia Dr Solana Beach -- 54,850 -- $4.89 NNN $75.00 --

OFFICE SALE

ADDRESS CITY CLASS SF YEAR BUILT SALE PRICE $ / SF SALE DATE
2211 Newcastle Ave Cardiff C 1,050 1960 $1,500,000 $1,429 Dec-18
705 N Vulcan Ave Encinitas B 1,006 1936 $1,287,500 $1,280 Feb-20
16903 Avenida De Acacias Rancho Santa Fe B 3,064 1951 $3,220,000 $1,051 Jun-20
AVERAGE -- -- 1,707 1949 $2,002,500 $1,173 --

Solana 101 Solana Beach -- 54,850 2022 $63,820,000 $1,164 --

22 | SOLANA 101