Offering Memorandum (L) · Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the

TIM LOPEZManaging Director0: 760.476.9997C: [email protected] DRE #02044550 - NM #047364

LONG TERM LEASE: 4000 VASSAR DRIVE NE ALBUQUERQUE, NM 87107

PRESENTED BY:

OFFERING MEMORANDUM

Citelum USA-NNN Industrial Investment

OFFERING MEMORANDUM

KW COMMERCIAL

6005 Hidden Valley Rd.

Carlsbad, CA 92011

Each Office Independently Owned and Operated kwcommercial.com 2

OFFERING MEMORANDUM

Confidentiality & Disclaimer4000 VASSAR DRIVE NE ALBUQUERQUE, NM 87107

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness ,veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived,or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independentprofessionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KWCommercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any partyregarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that maybe provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with acertified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed byAlbuquerque in compliance with all applicable fair housing and equal opportunity laws.

KW COMMERCIAL

6005 Hidden Valley Rd.

Carlsbad, CA 92011

PRESENTED BY:

TIM LOPEZManaging Director0: 760.476.9997C: [email protected] DRE# #02044550 - NM #047364

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors shouldconduct your own investigation of the property and transaction.

http://www.kwcommercial.com


OFFERING SUMMARY

SALE PRICE: $1,700,000

CAP RATE: 6.38%

NOI: $108,431

LOT SIZE: 1.04 Acres

BUILDING SIZE: 15,906

RENOVATED: 2018

ZONING:NR-LM LightManufacturing

MARKET: Albuquerque

SUBMARKET: North I25

PRICE / SF: $106.88

PROPERTY OVERVIEWNNN with Corporate Guaranty Industrial user with a 15-year contract for services with City of Albuquerque One 5-year option -Current lease expires Oct 2027Tenant has extensively renovated the space to fit their needs.

PROPERTY HIGHLIGHTS• Investment Grade Tenant with Corporate Guaranty

• Initial 10-year term NNN with options

• Current lease renews October 2027

• New construction of comparable properties in the area supporting market demand & growth

• 2.5% Average Annual Rent Increases

• Current building suited for expansion or major tenant up to 3,300 SF office/warehouse combination

• Located in Opportunity Zone

• https://www.citelum.com/news/albuquerque-will-benefit-from-an-efficient-lighting-thanks-to-citelum

Executive Summary: 4000 Vassar Drive NE ABQ NM

CITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE |


www.kwcommercial.com 4

PROPERTY INFORMATION

1 | PROPERTY INFORMATION

PROPERTY DESCRIPTION

PROPERTY DETAILS

1PROPERTY INFORMATIONCITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE

OFFERING MEMORANDUM


PROPERTY OVERVIEWNNN with Corporate GuarantyIndustrial user with a 15-year contract for services with City of AlbuquerqueOne 5-year optionCurrent lease expires Oct 2027Opportunity ZoneAverage 6.85% CAP rate over the 10-year term

LOCATION OVERVIEWGrowing industrial, light retail and entertainment demographic.Neighboring tenants include:Southwest Carpenters Union, Federal Bureau of Investigation, Main Event, Bank of Albuquerque, United ParcelServices, Brinks, and Nusenda Credit Union.

Area Development: Costco, Sam’s Club, REI, Sportsmans Warehouse, Century Theaters, Home Depot,Cheddar’s, Bubba’s 33, Fuddruckers, Pappadeaux’s, P.F. Chang’s and more.

CONSTRUCTIONThe building is a slab on grade, vertical steel beam with metal siding and standing seam metal roof. Skylightsprovide abundant daylight and are complimented with LED, Halogen and Mercury Vapor interior lighting. Lowmaintenance southwestern landscaping.

Property Description

CITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE 1 | PROPERTY INFORMATION



SALE PRICE $1,700,000

LOCATION INFORMATIONBuilding Name Citelum USA-NNN Industrial Investment in Opportunity Zone

Street Address 4000 Vassar Drive NE

City, State, Zip Albuquerque, NM 87107

County/Township Bernalillo

Market Albuquerque

Submarket North I25

Cross Streets Comanche

BUILDING INFORMATIONBuilding Size 15,906 SF

Tenancy Single

Number Of Grade Level Doors 3

Number Of Dock High Doors 2

Ceiling Height 18 - 21 ft

Office Space 3223

Number Of Floors 2

Last Renovated 2018

Standing Seam Roof Yes

Free Standing Yes

Year Built 1998

PROPERTY DETAILSProperty Type Industrial

Property Subtype Manufacturing

Zoning NR-LM Light Manufacturing

Lot Size 1.04 Acres

APN# 101606022833720249

Submarket North I25

Lot Frontage 253

Lot Depth 138

Parking Spaces 38

Corner Lot Yes

Opportunity Zone Yes

Property Details

CITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE 1 | PROPERTY INFORMATION



FINANCIAL ANALYSIS

2 | FINANCIAL ANALYSIS

FINANCIAL SUMMARY

RENT ROLL

ADDITIONAL PHOTOS

2FINANCIAL ANALYSISCITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE

OFFERING MEMORANDUM


INVESTMENT OVERVIEW CITELUM USA-NNN INDUSTRIAL GRADE INVESTMENT

Price $1,700,000

Price per SF $106.88

YTD CAP Rate 6.46%

10-YEAR Average Blended CAP Rate 6.85%

Rent Schedule Year 2 $107,496









OPERATING DATA YEAR 2 CITELUM USA-NNN INDUSTRIAL GRADE INVESTMENT

Gross Scheduled Income $109,983

Other Income -

Total Scheduled Income $109,983

Vacancy Cost $0

Gross Income $109,983

Operating Expenses NNN

Net Operating Income $109,983

Financial Summary

CITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE 2 | FINANCIAL ANALYSIS



TENANT

NAME

UNIT

NUMBER

UNIT

SIZE (SF)

LEASE

START

LEASE

END

ANNUAL

RENT

% OF

BUILDING

PRICE

PER SF/YR

Citelum 12,485 10/2017 10/2027 $84,431 78.49 $6.76

Experienced Solar 3,421 10/2017 10/2022 $25,462 21.51 $7.44

Totals/Averages 15,906 $109,893 $6.91

Rent Roll




Additional Photos




LOCATION INFORMATION

3 | LOCATION INFORMATION

REGIONAL MAP

LOCATION MAPS

AERIAL MAP

TENANT PROFILES

TENANT PROFILES

RETAILER MAP

3LOCATION INFORMATIONCITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE

OFFERING MEMORANDUM


Citelum USA-NNN IndustrialInvestment in Opportunity Zone

Regional Map

CITELUM USA-NNN INDUSTRIAL INVESTMENT IN OPPORTUNITY ZONE 3 | LOCATION INFORMATION



Location Maps




Aerial Map




Company: Citelum Group EDF

Founded: 1993

Total Employees: 26/ABQ

Industry: LED Lighting installation/servicing

Service Area: New Mexico

Lease Rate: $6.63/psf NNN

Headquarters: Paris France

Website: https://citelum.com/en/

OVERVIEW

• Unconditional Corporate Guaranty

• 15-year contract with City of Albuquerque

• Expanding to 2nd and 3rd tier NM cities-towns-villages

• AAA Credit Rated

• Tenant Highlight 4



TENANT HIGHLIGHTS

Headquartered in Paris, France, Citelum Group EDF was created in 1993 inresponse to the need for a specialized street lighting management company.In 2014, the Group became a fully-owned subsidiary of Group EDF, thelargest electric utility in the world. In over 20 years in the industry, Citelumhas worked with 14 “Capitals of Light” including Paris, Prague, Venice,Copenhagen, Madrid, and Mexico City, and currently manages over 2.5million streetlights worldwide.

CITELUM USA

Through EnvisionABQ, Citelum Group EDF to Provide Long-term LightingImprovement, Smart City Platform to New Mexico’s Largest City OnNovember 21st, 2017, Mayor R. Richard Berry celebrated the activation of a15-year contract to convert over 20,000 streetlights to LED, implement anInternet of Things (IoT) architecture and deploy a central managementsystem for operation & maintenance in the City of Albuquerque.

Tenant Profiles




Company: Experienced Solar

Founded: 2015

Total Employees: 3

Industry: Electrical/Solar

Service Area: Albuquerque and Surrounding Areas

Lease Rate: $6.83/psf NNN

Headquarters: Albuquerque

Website: https://experiencedsolar.net/

OVERVIEW

• Owner/User

• Flexible Occupancy

• AAA Credit Rating




TENANT HIGHLIGHTS

Experienced Solar is a licensed electrical contractor, specializing in bringing residential,commercial and industrial customers the many benefits of tailored solar systems. Ourmission is to engineer, design and install the longest-lasting grid-tied and remote solarsystems, ensuring our customers get maximum return on their investment in clean,renewable energy. Set up a customized, on-site evaluation with us today to startunlocking the benefits of our solar systems in Albuquerque, NM!

Kevin Goodreau is the CEO and founder of Experienced Solar. The company was animmediate success because of Goodreau’s 16 years of success in running his first solarpower company, Direct Power & Water Corporation (DPW) in New Mexico. Goodreau andhis partner at the time, Jeff Randall, started DPW way back in 1993 when successfulsolar companies were hard to find. DPW rapidly until it was acquired in 2006. Goodreaucontinued to run DPW after the acquisition. Experienced Solar owes its success toGoodreau’s long-term success and experience in designing and building solar powersystems. Today, a core group of the same outstanding professionals who made DPW asuccess work for the new company, Experienced Solar. You can’t find more solar powerexperience anywhere. That’s why, at Experienced Solar, our expertise means you getmore power, dollar for dollar, than you could get from any other company.

EXPERIENCED SOLAR

Tenant Profiles




Retailer Map



Documents

Offering Memorandum (L) · Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the