Stewart Plaza 440 N Mountain Ave

INVESTMENT HIGHLIGHTS
Best-In-Class Medical/Office User Opportunity In Dynamic Healthcare Submarket
* Incredible opportunity to acquire an extremely high-image, turn-key medical/office building with in-place income, brand new improvements, and the ability for an owner/user to immediately occupy ± 8,141 square feet of contiguous space, or ±18,417 SF of total space throughout the building.

* The property has received over $1M in renovations in the past 2 years, including roof replacement, elevator modernization, HVAC replacements, lobby upgrades, new lobby and exterior furniture, and a new digital directory. Additionally, the building underwent a $170,000 exterior paint job in November 2023. These improvementsremove a considerable amount of capital for new ownership, outside of tenant improvements.

* At ±60.4% leased with a WALT of ±4.6 years, new ownership will benefit from an in-place income stream to help offset debt service. New ownership also can substantially grow the income as in-place leases are ±21.4% below market levels.

Strong Inland Empire Office Market Fundamentals
* The Inland Empire, a region whose $200-billion economy is equal to that of the State of Utah, has been Southern California’s best-growth market for nine straight years, averaging ±5.2% in economic growth each year.* The Inland Empire’s population base of 4.6 million people is Southern California’s second largest fueled by a growth rate that is almost 3.5 times more than the rest of the region since 1990. *Federal Reserve of St Louis.

* The Inland Empire has experienced 4% rent growth year-over-year in 4Q23, aided by the largest quarterly positive net absorption since 3Q18, per CBRE Research. For 2023, positive net absorption totaled 260,842 SF. Consequently, total vacancy dropped to 8.8%, the lowest in Southern California.

Exceptional Regional Access - Confluence of IE, LA & OC
* Located in Upland, CA, the property offers tenants and their client’s accessibility to both Los Angeles and Orange County to the West, and the Inland Empire to the east with the property’s proximity to the Interstate 10. Due to the Stewart Plaza’s prime location, tenants can attract and retain the top talent throughout Southern California.

* Stewart Plaza embodies the “Main and Main” location, situated at one of Upland’s most desirable intersections of Mountain Avenue and Arrow Highway, where the daily traffic count exceeds 30,000 cars.