IDEAL ASSET & SETTING FOR CONVERSION

Jones Lang LaSalle Brokerage, Inc. (“JLL”), as exclusive advisor, is pleased to present the very rare opportunity to acquire an outstanding repositioning opportunity, which includes 1400 N. McDowell Blvd., 1420 N. McDowell Blvd., and 5341 Old Redwood Highway located in Petaluma, California. The three building project includes two 3-story, and one 4-story Class A office buildings totaling approximately 207,485 SF of building area, located on approximately 11.89 acres of land on four parcels (the “Property”). Constructed in 1995, 1996 and 2000, the three buildings collectively are ±61% leased, with two buildings (144,000 SF) potentially being fully deliverable by May 1, 2027 and the third building potentially fully deliverable by October 1, 2029. The three building office project offers an expansive, campus style environment with a man-made lake, sport and volleyball courts, surrounded by mature redwood trees and extensive landscaping and parking area. The buildings have been professionally maintained, feature quality construction, steel decking, expansive glass line with excellent views, and ideal bay depths for potential conversion to multi-family units.

REPOSITIONING FOR MULTI-FAMILY

Sonoma County continues to experience high demand and lack of supply of multi-family apartments in the area. The subject property offers an excellent opportunity for a new investor to take advantage of existing tenancy and a robust cash flow, while processing entitlements to reposition and retrofit the three buildings for the suggested opportunities. The site offers an outstanding location, inviting environment for the proposed uses. The buildings have been well maintained and feature floor plates and bay depths that appear to be very supportive for multi-unit residential retrofits.