| CREOP

Please keep the below comments in mind when reviewing the pricing valuation outlined on page 31.
In my opinion the subject property commands a higher price per square foot valuation based mainly on two factors: 1) For buyers prioritizing branding visibility, opportunities are scarce—making the subject property a rare find with prominent exposure to passing traffic. 2) Properties located near John Wayne Airport deserve a premium.

The challenge is the market is a little soft right now (as it's been since the start of Covid), and as you will see from the sale comps, the proposed price range is on the high end of the spectrum.
When reviewing the active properties on the market (starting page 15), you can see the average price per square foot is high, however the average days on market is 334. This suggests market softness and the Sellers are waiting to get their number.
With all that said, I recommend going to market at the "Optimistic" end and monitor the activity.

Close to a variety of amenities including health clubs, restaurants, hotels, hospitals, and John Wayne Airport.
Immediate access to the 55 and 405 Freeways. Main Street is one of Irvine's major thoroughfares.

The property is located in Irvine, CA, which is known for its strong economy, highly educated workforce, and low crime rates. Irvine consistently ranks as one of the safest cities in the United States.
The property is situated in a prime location within close proximity to major freeways, including the I-5 and I-405, providing excellent access for commuters and customers. Additionally, it is near John Wayne Airport, which is convenient for business travelers.
Nearby amenities include shopping centers such as Irvine Spectrum Center and Fashion Island, offering a variety of retail, dining, and entertainment options for employees and visitors. These popular destinations can attract foot traffic to the area.
The surrounding area is home to several prominent corporations and tech companies, contributing to a vibrant business community. Companies like Google, Blizzard Entertainment, and Broadcom have a presence in Irvine, fostering a culture of innovation and entrepreneurship.
Nearby corporate neighbors include major technology companies such as Google, Blizzard Entertainment, and Broadcom, making this area a hub for innovation and business growth.