660 Baker Street, Building A, Costa Mesa, CA 92626

MEMORIALCARE MEDICAL | AA- (S&P) INVESTMENT GRADE CREDIT

Anchored by MemorialCare, an AA- (S&P) investment-grade health system, occupying approximately 73% of Building with lease term through May of 2032. The tenancy provides durable, needs-based demand through a full-service medical offering including primary care, urgent care, preventative screenings, vaccinations, treatment for minor injuries, and management. The clinic operates 7 days per week, reinforcing long-term tenancy and patient reliance. The MemorialCare suite provides best-in-class build outs including 18’ ceiling heights, upgraded HVAC and power, an X-Ray room, and 14 exam rooms.

ENTRENCHED TENANCY WITH SIGNIFICANT TENANT INVESTMENT & TRACK RECORD OF EXTENSIONS

MemorialCare has infused over $500,000 of investment into the space, underscoring a long-term commitment to the location. The lease includes two, 5-year fair market value renewal options extending potential occupancy through 2042. CAS Biosciences has executed an early lease extension at this location and has adjacent tenancy, further solidifying the Property’s role as a sticky, mission critical medical hub.

SECURE, PREDICTABLE CASH FLOWS WITH LIMITED NEAR-TERM ROLLOVER

The Property offers a ±5.5-year weighted average lease term, with no lease rollover until 2030 and only 27.4% of total leases expiring at that time. CAS Biosceinces, which lease expires in 2030, is further anchored to this business park with an additional 7,868 square feet in the adjacent Building B. This structure provides investors with stable income and minimal near-term leasing risk.

COMPLETELY RENOVATED – “LIKE-NEW” MEDICAL OFFICE ASSET

The Property has undergone a comprehensive renovation, delivering a modern, “like-new” medical office environment. Capital improvements include new windows, upgraded restrooms and common areas, electrical systems, plumbing, and HVAC equipment, reducing future capital expenditure requirements for incoming ownership.

IRREPLACEABLE, WALKABLE SoBECA LOCATION WITH DESTINATION AMENITIES

Strategically located at the corner of Baker Street and Bristol Street in the heart of the SoBECA (South Bristol Entertainment & Cultural Arts) District, the Property benefits from walkable access to over 50 restaurants and retail amenities. Nearby destinations include The CAMP, The LAB, MADE Coffee, Wahoo’s Fish Taco, Mitsuwa Marketplace (with food court) and numerous nationally and locally recognized dining concepts—an increasingly rare amenity base for medical office tenants, staff, and patients.

MARK-TO-MARKET OPPORTUNITY WITH DOWNSIDE PROTECTION

In-place rents are approximately 11% below market, presenting a clear mark-to-market opportunity upon rollover. Following the first lease rollover in 2030, the Property achieves a projected pro-forma cap rate of 6.70%, offering attractive yield expansion for investors. Furthermore, investor’s downside is protected with the ability to recover up to 5,024 square feet, which was removed to accomodate MemorialCare’s medical build out, bringing the building to 14,869 square feet.