Stabilized Incubator Industrial with Near-Term Mark-to-Market Upside * Attractive Industrial Offering | This is an attractive investment opportunity in one of the fastest-growing real estate markets in the Western United States. The asset is in the heart of California’s distribution and agricultural cluster in the Central Valley, next to a multimodal transportation system with abundant surrounding amenities and investment upside. * Small-Bay Incubator Product in a Supply-Constrained Submarket | The property is a 57,600 SF, 25-suite incubator industrial building in northwest Fresno, the tightest large industrial submarket in the South Central Valley at 4.9% vacancy. Nothing is under construction in the Fresno submarket, and no comparable small-bay project has been announced. Tenants who need ±2,000 SF with a roll-up door have very few places to go. Attractive Market Fundamentals * Industrial Vacancy Less Than Half the Regional Rate | While the South Central Valley sits at 10.3% vacant, Fresno enjoyed 4.9% vacancy at the close of Q2 2026. Moreover, the subject property sits within the Northwest Fresno submarket, which currently has 4.6% vacancy (Costar). * No New Supply Competing for Fresno Tenants | Nothing is under construction in the Fresno submarket. The only project underway in the entire South Central Valley is a 510,385 SF speculative building at Tejon Ranch in Kern County, roughly 150 miles south, delivering in Q1 2027. CBRE Research expects no further development in the region, so available space should continue to be absorbed without new competition. Strategic Central Valley Location With Strong Infrastructures * One Block From Highway 99 | The property sits one block from State Route 99, California’s primary north-south corridor through the Central Valley, with a single ingress and egress point off N. Marks Avenue. Fresno sits midway between Los Angeles and the Bay Area, and SR-99 connects to I-5 by way of SR-180 and SR-152 for westbound freight. * Multimodal Access | Beyond SR-99, tenants reach SR-180 within minutes, BNSF and Union Pacific rail lines run through Fresno, and Fresno Yosemite International Airport is roughly nine miles east. The combination suits the mix of trades, service businesses and light distribution users the building attracts.