1998-2003 MAJOR TRANSACTIONS

• In February 2003, Winco acquired the 112,000 Corporate Express building in Anchorage, Alaska . The building includes 7 other tenants besides the major tenant, Corporate Express. Winco Anchorage Investors I, L.P. intends to hold the property for investment purposes.

• Winco Real Estate Services re-negotiated an approximate 60,000 square foot lease for one of our clients. The remaining lease rate was reduced and the term extended on favorable terms for our client.

• In October 2002, Winco sold its planned 165,000 square foot office park development to a national owner user. The property was blue top ready for construction and the buyer plans to build its own corporate headquarters on the site.

• In May 2002, Winco completed development of a new state of the art drive through Starbucks Coffee House at the Mission Plaza Shopping Center. The building will serve as a prototype for Starbucks nationally.

• Also in January 2002, on behalf of a client, two separate properties were acquired in Vernon. Our client has been a tenant in one of the buildings for over seven years. Winco went to the property owner and successfully negotiated to purchase the property. Because the client was concerned about growth needs, we also acquired the property directly across the street to satisfy their future needs. Winco coordinated the entire process and represented the buyer in all aspects of the transaction.

• In January 2002, Winco entered escrow to purchase two leased industrial buildings totaling over 125,000 square feet. One property was located in Commerce and the other was in Compton. The properties were held for investment and value enhancement. The transactions were closed in late March of 2002.

• In April 2001, after two years of ownership, a property owned by Winco Camarillo Partners, LLC. was sold. Winco had repositioned the 52,000 square foot office/industrial property during its ownership and sold the property for nearly double its invested capital.

• Winco continued work on planning the development of The Terraces at Parkway Calabasas, a 165,000 square foot office complex. Winco was hired by a client to act as a fee developer for the project and oversaw all aspects of the development and construction of the planned office environment. After the untimely death of the client, his estate decided it wanted to sell the property. Winco, acting on behalf of its principal, moved forward to purchase the property on a very short timeframe. The project, partially graded, was purchased in less than 60 days and Parkway Calabasas Investors, LLC. was formed to develop the property.

• In January 2001, Winco, acting as an advisor/broker participated in the sale of a partial partnership interest in a 500,000 square foot business park in Northern California. The sale, valued at $25 million, was complex as it was a partnership interest rather than fee ownership. Winco located a ready, willing and capable purchaser for the transaction.

• Winco continued its development of the Enclave office building in Malibu until its completion in December 2000. Developed from the ground up by Winco, the building was 100% leased at the time of its completion. The challenging project, with 180 degree whitewater views of the Malibu coastline, has received numerous accolades for its innovative design and presence.

• After fifteen years of ownership, Winco coordinated the refinancing of its 7th and Montana property in Santa Monica. A very advantageous loan was obtained and the partners in the property received well in excess of 200% return on their original investment. The property continues to provide a very healthy cash return to all partners.

• In October 2001, Mission Plaza Shopping Center was sold. This client-owned property was represented in the sale by Winco and we also found the buyer. The property was sold on advantageous terms, and was conditioned on Winco developing a new drive-thru Starbucks on the property. Winco negotiated a lease with Starbucks, and is currently developing the facility for the property's new owners.

• After nearly ten years of management and the rebuilding of a majority of the project due to the Northridge Earthquake, the Warner Premier Office Building was sold to an overseas company. The building commanded one of the highest prices in the area for this type of property.

• Winco was retained to develop a 165,000 square foot commercial office project in the West Valley area of Los Angeles. The Terraces at Parkway Calabasas was completed in the fall of 2000. Winco coordinated all aspects of the development including design, construction, leasing and management.

• Winco was retained by a nationally respected charitable organization to assist with assessment of a unique real estate opportunity. Our analysis included creating realistic projections of cost of operation versus potential for income based on extensive research of the project and its potential success.

• Winco began developing an approximate 26,000-square foot office complex in Malibu, California. The development was extremely unique in nature and demanded great sensitivity to the community and environment. We felt the project was a "one of a kind" development and set new standards for the area.

• Winco successfully completed negotiation of a Lease for a build to suit new building of approximately 72,000 square feet on behalf of a long-standing and fast growing consumer service oriented client. We worked closely with the Landlord / Developer to insure that construction of the building core and tenant improvements were completed in a manner acceptable to the standards of our client, and in line with what was agreed to during the negotiation for the space. Winco also assisted the client with coordinating its relocation to the new premises.

• Winco worked with a large west side office user seeking larger offices to accommodate its growth. Our job was to secure the best deal on 15,000 to 20,000 square feet, including the right to expand in the future. In addition to acting as a Broker to locate appropriate space and negotiate a lease, Winco was also retained to supervise and coordinate the build-out of the premises on the user's behalf.

• Winco also provided consulting services for another large public company whose success and growth resulted in a significant lack of space. For this project, Winco coordinated all aspects of the relocation requirements; lease negotiations, space design and construction. The final task for the project was to coordinate a smooth and efficient move of the entire company to their new location. Winco supervised the entire planning and construction of the premises. The build-out of the high profile 58,000 square foot office space was completed in December 1998.

• Winco was retained by a large service oriented Southern California company to assist with an analysis and relocation search for its business operations. Winco handled every aspect of the development: site acquisition, entitlements, preparation of plans and specs, general contractor selection, construction management, etc. Winco developed this very successful project from the ground up, on time and on budget. The tenant moved into its new headquarters consisting of approximately 100,000 square feet in January 1999.

• Winco spearheaded the pre-development, entitlement process, and sale of a 6.5 acre parcel of land for the ground-up development of a supermarket/drug shopping center in a heavily populated area of the San Fernando Valley of Southern California. The development was a politically charged undertaking as it was the first joint development project ever undertaken by any private sector developer with the Los Angeles Metropolitan Transportation Authority (LAMTA). Our responsibility included finding tenants with the capital to own their property, rezoning the property, obtaining entitlements, garnering community support from local homeowners, and of course providing a profit to the developers.

• Winco acquired a 52,000 square foot mixed-use office / industrial property in Camarillo. The property was purchased below its appraised value and we released a portion of the project, immediately increasing cash flow and value. The property was acquired to be held for investment.