FOR SALE OR LEASE. FOX Theatre building redwood city. (650) (650)

Transcription

1 FOR SALE OR LEASE FOX Theatre building redwood city Exclusive LISting Agents Steve Divney (650) CA License No Brett Weber (650) CA License #: Mike Cobb (650) CA License #: c o l l i e r s i n t e r n at i o n a l 203 Re d w o o d Sh o r e s Pa r k way, Su i t e 125 Re d w o o d Ci t y, CA Fa x

2 Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Colliers Parrish and should not be made available to any other person or entity without the prior written consent of Colliers Parrish. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers and/ or lessees or operators, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for the interested party s thorough due diligence. Colliers Parrish has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the subject property, the size and square footage of the subject property and its improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with applicable local, State or Federal laws, codes, statutes or regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources believed to be reliable. Colliers Parrish, however, has not and will not verify any of the information contained herein, nor has Colliers Parrish conducted any investigation regarding these matters. Colliers Parrish makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers, operators or lessees are hereby advised to verify all of the information set forth herein.

3 Table of Contents I. Executive Summary II. A Redwood City Entertainment Icon III. Building Information A. Fox Theatre Information B. Little Fox Information C. Office Portion above Fox D. Ground Floor Retail E. Vacant Parcel IV. Land Use Information V. Historic Considerations VI. Support Documents

4 EXECUTIVE SUMMARY The subject property is a ±39,662 square foot office, retail and theater building originally constructed in 1928, renovated in 1950 and updated in The subject has been designed as a historic landmark building. The improvements are comprised of four floors including street level retail, a 1,300 +/- seat theater and three floors of office space above and fronting the theater. All of the primary entrances are located along Broadway Street, while secondary entrances and emergency exit routes are located along the side and rear of the property. All of the upper floor spaces are accessed via several staircases located throughout the property. A single historical elevator not currently operational, is located within the entrance to the office space and is primarily for decorative purposes. Theatre The existing subject improvements consist of a single stage, 1,700+/- seat performance theater with balcony seating, totalling ±23,132 square feet. There is a large lobby area on both the main and balcony levels with a central refreshment/concession bar/counter. The theater slopes in a typical fashion downward toward the stage. Both the lobby and theater have ornate decorative finishes with decorative artwork located on the walls and ceiling areas. The theater portion of the building was built in an elaborate architectural style and features barrel and vaulted ceilings, painted walls made up of plaster with decorative wall treatments and ceiling accents. The auditorium makes up the portion of the ground floor. The vaulted ceiling is approximately four stories high and above the orchestra/main theater level is the balcony level. Behind this area is a former projection room which is now used for spot lighting for the state area. Theater space has small separate men s and women s restrooms on the main floor and additional ones on the balcony level. The main floor restrooms are dated and in fair condition while the balcony level have been remodeled and are in average to good condition. Office Office space is located on the second, third and fourth floors of the building and is accessed via a separate ground floor lobby, with a main entrance adjacent to the theater. The office space totals 9,643 rentable square feet. The second floor office space is in shell condition and has a low ceiling height. The third floor office space has central area common men s and women s restrooms serving the second through fourth floors. Ground Floor Retail The subject property has three ground floor retail suites totaling 6,887 square feet of the overall building. The retail space is located on either side of the covered main entrance to the theater lobby. The largest retail suite is 2,678 square feet and formerly housed the Little Fox Theater nightclub. This suite is two stories high with an open area at the center surrounding the small stage. There is a beverage bar near the front door and two sets of restrooms on each floor. The other two retail suites are on the opposite side of the theater main entrance and range in size from 768 to 1,520 square feet. The smaller space is also vacant and in shell condition while the larger space is currently owner occupied as the box office. Each of these suites has an individual restroom.

5 DOWNTOWN ENTERTAINMENT ICON The Fox Theatre is literally at center stage of Downtown Redwood City s cultural and economic development activities. Facing the neo-classical Historic Courthouse dome (home to the San Mateo County History Museum), the Fox Theatre bookends Courthouse Square. This elegant public square is enclosed and shaped by two major landmarks: the Museum s finely detailed neo-classical portico to the north, and the Fox Theater s stunning Art Deco façade to the south; the civic space in between is considered Redwood City s living room. In combination with other complimentary entertainment venues, which include the 20-screen cinema complex, quality food-related establishments along Theatre Way, as well as the free entertainment and signature events on Courthouse Square (May through November), the downtown core holds its position as one of the premier entertainment destinations on the Peninsula. The City has committed over $50 million in funding to this specific area (referred to as the Downtown Core ). The expenditures included the construction of the 600 space public parking facility located under the cinema complex, the restoration of the historic Courthouse façade, the construction of Courthouse Square, and the construction of the streetscape improvements on Theatre Way as well as Broadway between Jefferson and Hamilton. The investment also included the innovative, form-based code planning and land use regulation document referred to as the Downtown Precise Plan, as well as the funding of the events on Courthouse Square beginning in the summer of The City s commitment to transforming Downtown into the entertainment destination of the Mid-Peninsula is especially exemplified in the funding of the Downtown WOW program on Courthouse Square. This program is moving into its fourth year of operation. It has included lunchtime musicians, Friday night concerts, Thursday night dance lessons with live music, and Wednesday night outdoor movies. In 2009, Jazz Monday on Main Street and Lindy on the Square on Sunday afternoons were included. Attendance grew from 29,000 and 45 events in 2007 to 106,000 and 83 events in 2009, an increase in attendance of 265% since inception in 2007! To look at the activity generation in another way, in 2007 the area averaged 644 people per event; in ,277 people per event. Surveys of attendees indicated 80% spent an average of $17 on food and/or beverage while attending an event. This equates to an economic impact of over $900,000 for downtown businesses in Not long ago, the Little Fox was one of the hottest venues on the Peninsula, with multiple weekly shows and events. The Little Fox featured some 175 shows a year while the Big Fox offered shows per year. The Fox Theatre hosted big names to the delight of a long list of faithful patrons.

6 DOWNTOWN ENTERTAINMENT ICON Old Courthouse/museum Courthouse Square FOX Theatre

7 BUILDING INFORMATION Background The Fox Theatre complex was constructed in 1928 at the then phenomenal cost of $300,000. The building walls are poured in place reinforced concrete, something unimaginable today due to the high costs of labor and materials. The theatre opened its doors in January 1929 as the Sequoia Theatre and it was purchased that year by the Fox - West Coast chain of theaters. In 1950, due to vibrations from the nearby Southern Pacific rail line traffic, a rear portion of the ceiling collapsed. This incident coincided with a general remodeling effort by the Fox - West Coast chain. Throughout the nation and during that period, over 200 theaters owned by the Fox - West Coast chain were individually remodeled using a Baroque-type design reflecting a more contemporary style (no organ, new marquee and lobby/restroom alterations). The City contributed to the installation of fire sprinklers for the stage area in the 1990 s when the theater became a live performance center (Palo Alto Players). The Fox Theatre changed ownership in A smaller 240 plus seat live performance club called the Little Fox was created in one of the theater adjacent retail spaces and very quickly this venue became a popular musical hot spot on the Peninsula.

8 BUILDING INFORMATION Health and Safety Conditions Like many older structures which predate the modern building codes, it is advisable to consider a building evaluation and analysis in order to understand the specific construction details of historic buildings like the Fox Theatre. Fortunately, the Fox Theatre is not classified as an Unreinforced Masonry Building (URM). Other than its stage area, there are no fire sprinklers in the Fox Theatre building because the building s historic use as a movie/live performance theater is grandfathered in. In 2006, the property owner requested a Use Permit to allow alcoholic consumption in the Fox Theatre seating area in conjunction with related events (consumption of alcohol was already allowed in the bar/lobby area). This request prompted a two-year agreement with the City by which this use would be temporarily allowed, based on certain conditions and in anticipation of the installation of fire sprinklers by November 1, If an automatic fire sprinkler system has not been installed by this date, consumption of alcohol will not be allowed in the theater seating area. The owner did make significant safety modifications as part of the original agreement including a new smoke detection system, a fire alarm system coordinated with automatic release of the fire curtain, new side exit doors with level landings and ADA access. As a historic resource, the Fox Theatre is allowed to seek flexibility in standard building code regulations (Redwood City uses the International Building Code) through the use of the State Historic Building Code in order to preserve the historic integrity and the quality of the character-defining features of the resource, which includes the building s exterior and interior. An example would be the height of the stair railing at the entrance lobby which is lower than the current standards, but is allowed to remain with the building. An elevator currently services the two-story office portion of the building and it too is historic and allowed to remain as is. Because of the design flexibility it offers, the State Historic Building Code is a beneficial preservation tool for historic buildings when contemplating alterations, modifications to the use, or additions to a facility. Consultation with specialists who have experience with the Secretary of Interior s Standards; i.e., architects and structural engineers who are comfortable in their knowledge of historic buildings, along with fire safety experts, is highly recommended.

9 FOX THEATRE BUILDING Information Fox Theatre 2215 Broadway Built in 1928 as a vaudeville and movie house, the Fox Theatre is the ideal venue for concerts, movies, receptions, product launches, meetings, private and corporate parties, and many other events. Three floors of event space with a combined capacity of over 1,400 are available, separately or in combination. Box Office Box office space is conveniently located at the main entrance of the Fox Theatre Available to public event production companies Phone and internet access Marquee Available for use to advertise your event Two (2) backlit panels, each with 3 lines for a maximum of 28 letters per line 8' lettering available in black and red On electrical timer for maximum nighttime visibility and energy saving Lobby Wall-to-wall carpeting, tile flooring, approx. 3,700 sq.ft., ceiling height 9' - 26'6" One (1) large state-of-the-art bar and one (1) food concession stand Ramp for wheelchair access Women's and men's bathrooms, including ADA bathroom Mezzanine Semi-private Two (2) staircases for balcony access Wall-to-wall carpeting, approx. 2,400 sq.ft., ceiling height 6'6" - 11'4" Two (2) state-of-the-art bars and one (1) food concession stand Women's and men's bathrooms Coat check room, 12' x 16', ceiling height 8', available upon request

10 FOX THEATRE BUILDING Information Balcony Fixed theater style seating Carpeting and concrete flooring, approx. 4,400 sq.ft. Maximum seating capacity for this level is 516 Unobstructed sight lines Auditorium Convertible floor space for different type of events, from theater style seating to ballroom setting All concrete flooring, carpet runners, approx. 6,000 sq.ft., ceiling height 8'2" - 46' Orchestra pit with wood floor that can be raised to auditorium and stage level Maximum capacity for this space is 948 Unobstructed sight lines Stage All hardwood flooring, 2,325 sq.ft., 28' x 83', grid height 56' Proscenium opening 28' x 40' Three (3) 200 amp single phase Cam Lock systems of dedicated power 1 dedicated 30 amp to back line music Full movie screen, 20' x 40' Black Velour curtains surround the stage on three sides One (1) convenient loading bay enables one semi truck to load and unload Loading door is 6' wide, 14'2" high and 24" above the outside ground Sprinkler system and fire curtain Outside parking area for two 40' semi trucks and one road show bus, separate from public parking lots Green Room Located directly offstage with separate access for greater security control All concrete flooring, 1,520 sq.ft., 20' x 76', ceiling height 10' Four (4) star dressing rooms, two (2) chorus dressing rooms, all with mirrors and sinks Production office with phone and internet access Lounge area with furniture, full kitchen, laundry room with washer and dryer, separate bathroom and shower Strict protection guidelines prevent unauthorized backstage access

11 FOX THEATRE BUILDING Information Projection/Control Room All concrete flooring, 330 sq.ft., 15' x 22', ceiling height 10' 3' x 14' opening for movie projection, follow spots, etc. One (1) 200 amp single phase Cam Lock system of dedicated power Two (2) 35 mm refurbished movie projectors with variable speed control Digital projection capabilities Web casting capabilities Facilities - Technical Specifications Auditorium The distance from the back wall of the stage to the back wall of the theater is 111'4". The distance from the back wall of the stage to the projection booth is 134'6". The distance from the Proscenium to the rigging points in the house for a lighting truss is 21'6" to the 1st Electric and 48' to the 2nd Electric. The distance between the rigging points in the house for a lighting truss is 25' to the 1st Electric and 32' to the 2nd Electric. The capacity of the beam clamps for these points is 1 ton per point (6 hoists). Stage The width of the Proscenium is 40'. The height of the Proscenium is 28'. The depth from the Proscenium to the back wall is 28'. The width of the stage right wing is 18'. The width of the stage left wing is 21'. The height of the grid from the stage floor is 56'. The loading dock on stage left is 6' wide and 14'2" high. The height of the stage floor from the outside ground at the loading dock on stage left is 24". The height of the stage floor from the auditorium floor is 3' There are 20 counterweight linesets in the theatre. 7 linesets are in use. The capacity of the linesets is 600 lb. each. The height of the loading bridge is 42'6". The theater has tons of pig irons for counter weighting battens. The length of the battens is 47' (all the same length).

12 FOX THEATRE BUILDING Information Facilities - Technical Specifications Stage Cont'd. Three (3) 200 amp single phase Cam Lock systems on stage right. Black 25 oz. flame retardant (per California State Fire Marshall specifications) Velour curtains surround the stage on three sides. Orchestra Pit The depth from the back wall to the edge of the orchestra pit (with the pit raised) is 38' 6". The depth from the edge of the stage to the edge of the orchestra pit is 10' 6". The depth of the orchestra pit from the auditorium floor is 4'6". Green Room There are two (2) chorus dressing rooms available. There are four (4) other star dressing rooms available. The backstage kitchen has: Hot water Refrigerator Microwave Oven/Stove Projection/Control Room One (1) 200 amp single phase Cam Lock system of dedicated power 3' x 14' opening for movie projection, follow spots, etc. Two (2) 35 mm refurbished movie projectors with variable speed control.

13 FOX THEATRE FLOOR PLAN

14 BALCONY FLOOR PLAN

15 MEZZANINE FLOOR PLAN

16 LITTLE FOX Information 2209 Broadway 240 Capacity Classic/Contemporary Style Venue with Cabaret-style seating, dance floor, two full bars on two levels and lounge areas. Completely redesigned in a very intimate club-like setting with stage and state-of-the-art sound system, for live performances with or without dancing and private & corporate events. Total space is approximately 4,600 SF (2,678 SF on the Ground Floor). FLOOR PLAN UP DOWN M M W W STAGE OPEN TO BELOW UP UP BAR DOWN DOWN BAR GROUND FLOOR UPPER FLOOR

17 OFFICE SPACE INFORMATION 2221 Broadway Approximately 7,000 SF of office space on the second floor of the Fox Theatre. Ideal for attorneys and start-ups. FLOOR PLAN Up Up Up 2221 Broadway

18 OFFICE SPACE INFORMATION 2221 Broadway Mezzanine Offices Perfect space for start-ups or, space could be used with the retail space below. FLOOR PLAN OPEN TO BELOW

19 RETAIL SPACE INFORMATION Broadway This retail space on the ground floor totals approximately 2,288 SF (of this, the box office for the Fox and the Little Fox was approximately 1,500 SF). The space could be divided into two retail spaces (flexible demising.) FLOOR PLAN UP TO OFFICE BROADWAY

20 VACANT LOT INFORMATION APN #: ±.14 Acre Site (Separate Parcel). Also Zoned CBR. Currently used as parking.

21 CURRENT PARKING CONFIGURATION APN #: existing parking spaces. FOX THEATRE Hamilton St

22 LAND USE INFORMATION The Fox Theatre is currently located in the CBR Central Business Retail Zoning District, which allows for the typical gamut of downtown urban uses designed to strengthen the retail vitality and economic base of the area. Ground floor retail uses are therefore permitted uses in the CBR Zone as well as second floor offices; entertainment venues like the Fox and Little Fox operate on Use Permits (see Attachment 3). The City has been preparing to adopt a bold new plan for Downtown Redwood City called the Downtown Precise Plan. Once in place, the Downtown Precise Plan (DPP) will supplant the CBR zone. The purpose of the DPP is to encourage the revitalization of the Downtown through improved development regulations which carefully orchestrate the strategic growth of the built environment as well as the expansion of compatible uses, while capitalizing on the value and unique qualities of its historic resources. For example, the Downtown Core Use Zone DC in the draft DPP clearly encourages entertainment venues, restaurants and night clubs. Naturally, the Fox Theatre facility is a major contributor to this district. Important planning and building issues As discussed elsewhere in this document, there are many interrelated components which come into play when considering the Fox Theatre. Because building uses and occupancy types vary greatly, use permits currently serve to define the operational envelope of this facility; these entitlements are typically tied to permits issued by the Building and Fire departments, as well as State regulated Alcohol and Beverage Control (ABC) Board permits which control the on-site consumption of alcohol. For example, the Little Fox was operating under a 21-year-old-and-over ABC permit (Type 48) for its bar and night club uses, while the Fox Theatre was open to all ages and could dispense alcoholic beverages from its bar/lobby area (Type 47). These ABC permits must be purchased by individual businesses. Since regulations change over time and use permits expire if they remain inactive for over one year, it is important to work with experienced professionals to establish the most appropriate use for each venue in the subject facility. Also, a wide range of related potential uses/use models should be considered when planning for the re-activation of the Fox Theatre, for example non-profit entertainment venues, live shows, screen performances; special events, etc. Parking Parking provisions in the downtown have been addressed through a state-of the-art parking metering system, the construction of new parking structures, improvement of on-grade parking lots as well as coordination of available stalls with select private and/or public entities. For additions and increases in parking demand, an in-lieu parking program provides a mechanism for the purchase of needed parking spaces.

23 HISTORIC CONSIDERATIONS The Fox Theatre is an extraordinary cultural and entertainment venue; for over 80 years this facility has served as a powerful magnet for people to come to our Downtown. Walking in through its doors and entering the lobby, one cannot help but feel the magic of the old movie palace/theater and the promise of a special show. The Fox Theater is a very significant historic landmark building designed by noted theater architects Reid and Reid in 1928 which opened in January This building is of National, State and Local historic significance. The exterior architectural style of the facility is Spanish Colonial with Gothic influences. The inside of the building was originally designed as an Atmospheric Movie Palace Style with a stage and loft for vaudeville and a pipe organ (for silent movies). We are fortunate to have this historic gem as one of our key Downtown destinations and as such it is very much in alignment with the vision and goals for Downtown Redwood City s vibrant future. As with all historic landmarks, special care must be taken not to compromise the building; thus there is a set process to preserve and enhance a sensitive resource such as the Fox and inversely, many ways to cause damage and devalue this property. Because of its historic status as a nationally recognized landmark, the Fox facility has special protection standards which must be respected when contemplating its maintenance, alteration and/or potential for expansion. As a Certified Local Government with the California State Office of Historic Preservation (OHP), Redwood City is qualified to provide answers to historic preservation questions via direct consultation with OHP staff; the City s Historic Resources Advisory Committee has a 30 year history of working collaboratively with applicants for a win-win scenario. In addition, a list of specialized consultants which the City has worked with is available upon request, and staff will be delighted to work with interested parties on showcasing this most important asset. The following list provides some basic information about the essential tools of the field of historic preservation. Again, this information is not all-inclusive but is provided to enable good decision making and investment.

24 HISTORIC CONSIDERATIONS A) Department of Parks and Recreation Form (DPR 523) New Sequoia Theater building This survey document was completed in 1994 and is part of the current Redwood City Historic Inventory. At that time the Standard California and National Register criteria commonly used the 50-year-old standard to determine whether properties would be eligible for listing in historic (State and National) registers. Significant alterations were made in 1950 to the entrance lobby, the marquee and those modifications were, at that time six years short of the eligible age for listing. However, the DPR document confirms the listing of the main theater building on both the National Register and California Register (the wings are not mentioned) by assigning this property the National Register Status Code of 1S (listed on the National Register and California Register). Today, these 1950 elements are 60 years old which is well over the current 45-year old standard (amended from the 50-year old standard) to determine eligibility for listing on historic registers. An update of the current Department of Parks and Recreation form (DPR) which would evaluate the 1950 s alterations as well as the theater building wings facing Hamilton Street and Middlefield Road (now Theater Way) is needed to confirm eligibility of these features on the National and California Registers. B) National Register Nomination form, 1993 This building was designated as a Redwood City Historic landmark on July 27, 1987 by City Council Resolution No This building was officially listed by the National Register Keeper on May 5, 1994 (See Attachment 4 for details). C) Secretary of Interior s Standards (SIS) These national standards are the primary design review tools (i.e. do s and don ts ) applicable for all designated historic resources. These are the key standards which must be used by qualified historians and architects when contemplating additions, alterations or modifications to historic resources such as the Fox Theater. These standards are also part of the Redwood City Historic Preservation Ordinance and staff is readily available to respond to inquiries on this matter. In the case of significant alterations to a designated resource such as the Fox Theater, it is highly recommended that a certified historian (sources available upon request) first review such proposals and confirm compliance to these standards (see enclosures for details). D) CEQA This building is subject to California Environmental Quality Act Regulations (CEQA). Changes determined to cause impacts to a historic resource require environmental review (Environmental Impact Report or Mitigated Negative Declarations) prior to implementation of the change. E) State Historic Building Code (SHBC) This Code only applies to historic resources such as the Fox Theater, and is designed to allow for the flexible interpretation of the Uniform Building Code/International Building Code (UBC and IBC, respectively) for the purpose of insuring life and safety provisions while respecting the historic character defining features of the building (examples includes allowing railing heights to remain as non-conforming and flexible provisions for disabled access.

25 HISTORIC CONSIDERATIONS F) Mills Act Contracts Such agreements are considered to be effective historic preservation incentives in California and offer long term property tax relief to a property owner in exchange for the appropriate maintenance and applicable restoration of a historic resource, as determined by the Redwood City Historic Resources Advisory Committee, Planning Commission and City Council. Historic Preservation Agreements run for a minimum of ten years and are automatically renewed every year unless notice of cancellation is received. They are known as a Mills Act Contract and such a contract is available for this property. Twelve such contracts are currently in place in Redwood City since the program was established in Redwood City in 1992 (see enclosures for details). G) Investment Tax Credits for the rehabilitation of the Fox Theatre The Tax reform act of 1986 provides for a powerful financial incentive for private sector rehabilitation of qualified historic buildings such as the Fox Theater using a tax credit, which effectively lowers the amount of tax owed (income). Properties must be income producing and must follow the building preservation standards set forth by the Secretary of the Interior (see enclosures for details). H) Façade Easements: A preservation easement is a voluntary legal agreement that protects a significant historic resource like the Fox Theater. Under the terms of an easement, a property owner grants a portion of, or interests in, their property rights to an organization whose mission includes historic preservation. In certain cases, a property owner can receive a federal income tax deduction equal to the rights given away. Easements are tailor made contracts and typically run with the land (see enclosure for details).

26 SUPPORT DOCUMENTS

27 AMENITIES

28 TRANSPORTATION

29 FREEWAY ACCESS TO DOWNTOWN REDWOOD CITY

30 DEMOGRAPHICS

31 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA DEMOGRAPHIC DETAIL, Page 1 1 Mile Radius 5 Mile Radius 10 Mile Radius POPULATION 2013 PROJECTION 6, , , ESTIMATE 6, , , CENSUS 6, , , CENSUS 6, , ,262 PROJECTED G ROWTH % 2.2% 2.4% ESTIMATED G ROWTH % 1.1% 1.6% GROWTH % 5.8% 7.7% HOUSEHOLDS 2013 PROJECTION 2,252 85, , ESTIMATE 2,231 84, , CENSUS 2,270 84, , CENSUS 2,230 81, ,521 GROWTH % -0.44% 0.21% 2008 EST. POPULATI ON B Y RACE/ETHNICITY 6, , ,573 WHITE ALONE 68.3% 62.43% 60.90% BLACK ALONE 0.6% 1.79% 1.86% AMER. INDIAN/ALASK AN ALONE 0.1% 0.34% 0.42% ASIAN ALONE 26.7% 23.33% 20.33% HAWAIIAN/PACIFIC I SLANDER ALONE 0.1% 0.95% 1.03% SOME OTHER ALONE 0.7% 5.66% 9.49% TWO OR MORE RACES 3.5% 5.50% 5.96% NOT OF HISPANIC ORIGIN 96.56% 85.77% 78.30% HISPANIC ORIGIN 3.45% 14.23% 21.70% 2008 EST. HISPANIC RACE BASE , ,266 WHITE ALONE 73.02% 50.07% 46.92% BLACK ALONE 0.00% 0.87% 0.60% AMER. INDIAN/ALASK AN ALONE 0.47% 1.06% 0.96% ASIAN ALONE 1.40% 1.08% 0.88% HAWAIIAN/PACIFIC I SLANDER ALONE 0.00% 0.25% 0.20% SOME OTHER ALONE 14.42% 37.36% 42.34% TWO OR MORE RACES 10.70% 9.30% 8.10% 2008 EST. POPU LATION B Y SEX 6, , ,573 MALE 48.91% 49.03% 49.66% FEMALE 51.11% 50.97% 50.34% SOURCE: CLARITAS CONFIDENTIAL March, 2010

32 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA DEMOGRAPHIC DETAIL, Page 2 1 Mile Radius 5 Mile Radius 10 Mile Radius 2008 EST. HOUSE HOLDS B Y INCOME 2,231 84, ,080 $500,000 OR MORE 16.09% 3.75% 2.96% $250,000 TO $499, % 5.80% 4.94% $150,000 to $249, % 15.35% 14.34% $100,000 TO $149, % 20.50% 20.59% $75,000 TO $99, % 13.51% 14.62% $50,000 TO $74, % 16.29% 16.32% $35,000 TO $49, % 9.58% 10.32% $25,000 TO $34, % 5.29% 5.51% $15,000 TO $24, % 4.82% 5.06% $15,000 OR LESS 2.82% 5.13% 5.35% 2008 EST. AVER AGE H H INCOME $223,344 $125,562 $117, EST. MED IAN H H INCOME $164,811 $91,460 $87, EST. INCOME P ER C APITA $80,081 $50,580 $44, EST. POPU LATION B Y HOUSE HOLD TYPE 2,231 84, ,080 FAMILY HOUSEHOLDS 83.82% 62.80% 66.31% NON FAMILY HOUSEHOLDS 16.18% 37.20% 33.69% 2008 EST. M ARITAL ST ATUS PERSONS 15+ 5, , ,786 SINGLE MALE, NEVER MARRIED 9.65% 14.57% 15.40% SINGLE FEMA LE, NEVER MARRIED 8.27% 11.85% 11.86% MARRIED 72.01% 57.72% 57.37% DIVORCED 3.95% 9.30% 9.33% WIDOWED 6.11% 6.55% 6.04% 2008 EST. HOUSE HOLDS B Y TYPE 2,231 84, ,080 SINGLE MALE 3.63% 11.78% 10.77% SINGLE FEMALE 10.00% 16.66% 14.69% MARRIED COUP LE FAMILIES 74.99% 51.31% 53.06% OTHER FAMILY - MA LE HEAD 2.73% 3.30% 3.98% OTHER FAMILY - FEMA LE HEAD 6.10% 8.19% 9.26% NON FAMILY - M ALE HEAD 1.48% 4.88% 4.59% NON FAMILY - F EMALE HEAD 1.12% 3.89% 3.65% 2008 EST. HOUSE HOLDS B Y PO VERTY STATUS 1,870 52, ,046 ABOVE POVER TY LEVEL 99.36% 96.98% 96.69% BELOW POVER TY LEVEL 0.75% 3.02% 3.31%

33 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA DEMOGRAPHIC DETAIL, Page 3 1 Mile Radius 5 Mile Radius 10 Mile Radius 2008 EST. POPU LATION B Y AGE 6, , ,573 0 TO 4 YEARS 6.30% 5.86% 6.40% 5 TO 9 YEARS 5.61% 5.71% 6.06% 10 TO 14 YEARS 5.59% 5.46% 5.77% 15 TO 17 YEARS 5.11% 3.63% 3.76% 18 TO 20 YEARS 3.26% 2.83% 3.21% 21 TO 24 YEARS 5.49% 4.21% 4.62% 25 TO 34 YEARS 6.95% 10.48% 10.79% 35 TO 44 YEARS 7.71% 15.97% 15.74% 45 TO 49 YEARS 7.00% 8.57% 8.58% 50 TO 54 YEARS 10.28% 8.10% 8.08% 55 TO 59 YEARS 10.01% 7.48% 7.22% 60 TO 64 YEARS 7.48% 6.13% 5.85% 65 TO 74 YEARS 10.12% 7.75% 7.27% 75 TO 84 YEARS 6.81% 5.09% 4.43% 85+ YEARS 2.30% 2.74% 2.23% MEDIAN AGE EST. POP. 25+ B Y EDUCATION 4, , ,447 ELEMENTARY ( K-8) 0.94% 4.29% 6.44% SOME HIGH SCHOOL (9-11) 3.30% 5.47% 7.11% HIGH SCHOOL G RAD. (12) 8.19% 15.47% 17.56% SOME COLLEGE ( 13-15) 13.66% 20.99% 22.00% ASSOCIATE DEGREE 5.71% 7.17% 7.41% BACHELOR'S DEGREE 36.12% 28.72% 24.78% MASTER'S DEGREE 18.81% 11.90% 9.65% PROFESSIONA L SCHOOL DEGREE 9.50% 3.76% 3.10% DOCTORATE DEGREE 3.79% 2.23% 1.95% 2008 EST. POP. 16+ B Y OCCUPATION 2, , ,343 EXECUTIVE A ND MANAGERIAL 38.23% 24.40% 20.71% PROFESSIONAL SPECIALTY 31.79% 26.59% 23.81% SERVICE 4.02% 10.39% 12.54% SALES AND OFFICE 21.54% 26.75% 26.91% FARMING, FISH ING A ND FORESTRY 0.00% 0.07% 0.31% CONSTRUCTION AND MAINTENANCE 2.22% 5.86% 7.66% PRODUCTION AND TRANSPORT 2.25% 5.94% 8.06%

34 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA DEMOGRAPHIC DETAIL, Page 4 1 Mile Radius 5 Mile Radius 10 Mile Radius 2008 EST. H H B Y N UMBER O F VEHICLES 2,231 84, ,080 NO VEHICLES 1.48% 5.75% 5.94% 1 VEHICLE 15.19% 33.86% 31.56% 2 VEHICLES 49.39% 41.25% 40.75% 3 VEHICLES 24.38% 13.93% 15.19% 4 VEHICLES 6.50% 3.84% 4.66% 5 OR MORE VEHICLES 3.05% 1.36% 1.89% 2008 EST. WORKERS TRANS. TO WORK 2, , ,916 DROVE ALONE 77.51% 77.66% 75.16% CAR POOLED 8.60% 9.51% 11.52% PUBLIC TR AN SPOR TATI ON 2.49% 5.37% 5.67% WALKED 2.07% 2.04% 2.27% MOTORCYCLE 0.00% 0.21% 0.23% BICYCLE 0.11% 0.55% 0.77% OTHER MEANS 0.25% 0.52% 0.64% WORKED AT HOME 8.98% 4.14% 3.74% 2008 EST. O WNER O CC PR OPERTY VALUES 2,114 49, ,594 UNDER $20, % 0.09% 0.36% $20,000 TO $39, % 0.10% 0.40% $40,000 TO $59, % 0.22% 0.56% $60,000 TO $79, % 0.27% 0.46% $80,000 TO $99, % 0.32% 0.44% $100,000 TO $149, % 0.50% 0.66% $150,000 TO $199, % 0.38% 0.62% $200,000 TO $299, % 1.61% 2.12% $300,000 TO $399, % 3.69% 4.13% $400,000 TO $499, % 6.76% 8.35% $500,000 TO $749, % 25.54% 31.14% $750,000 TO $999, % 26.45% 24.41% $1,000,000 OR MORE 80.04% 34.07% 26.36% MEDIAN PROPER TY VA LUE $1,375,665 $849,449 $757,868

35 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA POPULATION, RACE & AGE, Page 5 COMPARATIVE POPULATION GROWTH 10% 8% 6% 4% 2% 0% -2% -4% PROJECTED GROWTH ESTIMATED GROWTH GROWTH Mile Radius 5 Mile Radius 10 Mile Radius 2008 EST. POPULATION BY RACE/ETHNICITY NOT OF HISPANIC ORIGIN TWO OR MORE RACES SOME OTHER ALONE HAWAIIAN/PACIFIC ISLANDER ALONE ASIAN ALONE AMER. INDIAN/ALASKAN ALONE BLACK ALONE WHITE ALONE 0% 10% 20% 30% 40% 50% 60% 70% 80% 10 Mile Radius 5 Mile Radius 1 Mile Radius 2008 EST. POPULATION BY AGE 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 0 TO 4 YEARS 5 TO 9 YEARS 10 TO 14 YEARS 15 TO 17 YEARS 18 TO 20 YEARS 21 TO 24 YEARS 25 TO 34 YEARS 35 TO 44 YEARS 45 TO 49 YEARS 50 TO 54 YEARS 55 TO 59 YEARS 60 TO 64 YEARS 65 TO 74 YEARS 75 TO 84 YEARS 85+ YEARS 1 Mile Radius 5 Mile Radius 10 Mile Radius

36 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA HOUSEHOLDS, MARITAL STATUS & PROPERTY VALUES, Page ESTIMATED HOUSEHOLDS BY TYPE 10 Mile Radius 5 Mile Radius 1 Mile Radius 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% SINGLE MALE SINGLE FEMALE MARRIED COUPLE FAMILIES OTHER FAMILY - MALE HEAD OTHER FAMILY - FEMALE HEAD NON FAMILY - MALE HEAD NON FAMILY - FEMALE HEAD 2008 ESTIMATED MARITAL STATUS PERSONS % 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1 Mile Radius 5 Mile Radius 10 Mile Radius SINGLE MALE, NEVER MARRIED SINGLE FEMALE, NEVER MARRIED MARRIED DIVORCED WIDOWED

37 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA INCOME, OCCUPATION & EDUCATION, Page ESTIMATED HOUSEHOLDS BY INCOME 25% 20% 15% 10% 5% 0% 1 1 Mile Radius 5 Mile Radius 10 Mile Radius 2008 EST. POPULATION 16+ BY OCCUPATION 45.00% 40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% EXECUTIVE AND MANAGERIAL PROFESSIONAL SPECIALTY SERVICE SALES AND OFFICE FARMING, FISHING AND FORESTRY CONSTRUCTION AND MAINTENANCE PRODUCTION AND TRANSPORT 1 Mile Radius 5 Mile Radius 10 Mile Radius 2008 EST. POP. 25+ BY EDUCATION DOCTORATE DEGREE MASTER'S DEGREE ASSOCIATE DEGREE HIGH SCHOOL GRAD. (12) ELEMENTARY (K-8) 0% 5% 10% 15% 20% 25% 30% 35% 40% 10 Mile Radius 5 Mile Radius 1 Mile Radius

38 DEMOGRAPHICS DEMOGRAPHICS 1, 5, an d 10 M ile Radii Analysis Geography: 2215 BROADWAY ST REDWOOD CITY, CA TRANSPORTATION, Page ESTIMATED TRAVEL TIME TO WORK Less than 15 Minutes Minutes Minutes Minutes 60 or more Minutes 1 Mile Radius 5 Mile Radius 10 Mile Radius 2008 ESTIMATED HH BY NUMBER OF VEHICLES 1 Mile Radius N= 2,231 3% 2% 7% 15% 24% 49% NO VEHICLES 1 VEHICLE 2 VEHICLES 3 VEHICLES 4 VEHICLES 5 OR MORE VEHICLES 5 Mile Radius 10 Mile Radius N= 84,357 2% N= 187,080 4% 1% 6% 5% 6% 14% 34% 15% 31% 41% 41%