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Investment Opportunity Single Tenant Industrial Offering Long-Term Cash Flow Stability

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Investment Opportunity Single Tenant Industrial Offering Long-Term Cash Flow Stability INVESTMENT OPPORTUNITY SINGLE TENANT INDUSTRIAL OFFERING LONG-TERM CASH FLOW STABILITY 580 Industrial Road | London, ON Accelerating success. INVESTMENT OPPORTUNITY The OFFERING Colliers International (the “Agent”) has been retained by Dream Industrial REIT (the “Vendor”) as exclusive agent to arrange for the EXCESS LAND offering and sale of a 100% freehold interest +/- 7 ACRES in a single tenant industrial facility located at 580 Industrial Road in London, Ontario (the 580 INDUSTRIAL RD “Property”). The Property is a 113,595 square foot temperature controlled warehouse and distribution facility situated on a 12.73 acre site and is leased on a long term basis to Summit Food Service, a division of Colabor Limited Partnership. The lease is indemnified by Colabor Group Inc., a public company listed on the Toronto Stock Exchange (TSE: GLC) with a market capitalization of $75.9M. The Property benefits from a low building to lot coverage ratio of 20%, a high ratio of shipping doors Industrial Road to building area (1 truck level door per 4,554 SF) and good clear height ranging from 20’ to 29’. Summit Food Service has been a tenant since the building was constructed and is heavily invested in the Property. This offering provides investors with a rare opportunity to acquire a stable cash flow asset in a market demonstrating strong fundamentals where demand for industrial real estate exceeds current supply. INVESTMENT OPPORTUNITY Property HIGHLIGHTS BUILDING DETAILS 580 Industrial Road Tenancy Colabor Limited Partnership Rentable Area 113,595 SF Lot Size 12.73 acres Coverage Ratio 20% Clear Height 20-29’ Shipping Doors 25 TL, 1 DI (1 TL per 4,554 SF) > New HVAC in freezer area Recent Upgrades (2017) > Roof replacements (2017) PROPERTY FEATURES • Temperature controlled area including refrigerated dock totaling 38,000 sf • Dry warehouse expansion at 29’ clear height (42,000 sf) • Recent significant capital improvements including roof replacements and new HVAC in freezer area • Low coverage ratio with approximately seven acres of excess land INVESTMENT OPPORTUNITY Investment HIGHLIGHTS STRONG LONDON INDUSTRIAL MARKET FUNDAMENTALS > The London industrial market comprises over 45M square feet, comparable in size to Ottawa and roughly double the size of Milton. > The London industrial market benefits from strong fundamentals and increasingly positive momentum over the past 24 months. > London industrial availability rates are currently at 3.3% and have decreased by approximately 460 bps since Q4 2017. > Average industrial asking net rents in London have increased by more than 30% since Q4 2017 and currently stand at $5.37 per square foot. > New construction/greenfield net rents for temperature controlled facilities are between $15 and $20 per square foot. > The influx of cannabis manufacturers to the London market since legalization has further reduced industrial inventory in the submarket. CASH FLOW STABILITY & STRONG COVENANT > Summit Food Service has operated in the Property since the building was constructed and recently entered into a long-term lease extension at the Property. > The Property provides investors with cash flow stability through a long term lease with an entrenched tenant. > The Property also offers income growth potential due to the contractual lease rates being substantially below market for temperature controlled facilities and nearly seven acres of excess land for development/building expansions. > Summit Food Service a division of Colabor Limited partnership is a leading distributor of food and food related products servicing Ontario and Western Quebec. The lease is indemnified by Colabor Group Inc., a public company listed on the Toronto Stock Exchange (TSE:GLC) with a market capitalization of $75.9M. YIELD PREMIUM TO GREATER TORONTO AREA (GTA) > With GTA capitalization rates at historic lows, the Property represents an opportunity to invest in an established industrial market and achieve yields that are unattainable in the GTA. INVESTMENT OPPORTUNITY Tenant PROFILE TENANT: Colabor Limited Partnership (Operating as Summit Food Service) Founded in 1969, Summit Food Service (“Summit”) is a leading distributor of food and food related products servicing Ontario and Western Quebec. Summit distributes more than 14,000 products from its distribution centers in London, Ottawa and Mississauga to more than 3,600 customers. A primary customer of Summit is Recipe Unlimited Corporation (formerly Cara Operations Limited). Recipe Unlimited Corporation is a Canadian company that operates several restaurant chains, as well as food distribution for correctional facilities, educational facilities and other large operations. Restaurant chains operated by Recipe Unlimited Corporation include: Swiss Chalet, Harvey’s, Milestone’s Grill & Bar, Montana’s BBQ & Bar, Kelsey’s Original Roadhouse, East Side Mario’s, Bier Markt, Prime Pubs, Casey’s Grill & Bar, New York Fries, St-Hubert, Original Joe’s, State & Main, Elephant & Castle, The Pickle Barrel, The Burger’s Priest and The Keg Restaurants Ltd. Summit’s other customers include other foodservice chains, independent restaurants as well as institutions, including hospitals, schools and government institutions. Summit’s product line includes frozen products, dry staples, dairy products, meat, seafood, fruits and vegetables and disposable and sanitation products. Summit has approximately 450 employees and 3 distribution centers including an administrative department in London, and primarily serves the Ontario market, but also distributes products to Recipe Unlimited Corporation restaurants in Western Quebec. INDEMNIFIER: Colabor Group Inc. Colabor is a wholesaler and distributor of food and non-food products serving the foodservice market, specifically, hotels, restaurants, institutions and the retail market. Colabor is a publicly traded company listed on the Toronto Stock Exchange (TSE: GCL) with a market cap of $75.9M. It carries out its activities through two segments: the distribution segment and the wholesale segment. INVESTMENT OPPORTUNITY LONDON Offering AIRPORT DETAILS 580 INDUSTRIAL RD HIGHBURY AVE S VETERANS MEMORIAL PKWY Interested parties are required to sign a WESTERN Confidentiality Agreement prior to receiving UNIVERSITY additional information on this offering. Please contact us for a copy of the Confidentiality Agreement or download a copy from the email link. LONDON Interested parties to submit offers on Thursday, June 27th by 4:00 p.m EST VICTOR COTIC GORD COOK Senior Vice President, Executive Vice President National Investment Services + 1 416 20 2831 + 1 416 620 2892 [email protected] [email protected] DANE GILBERT CHRIS KIRWIN Executive Vice President President, Broker of Record + 1 416 20 2813 London Ontario Brokerage [email protected] +1 519 438 4300 x201 [email protected] MATT CHAMBERS Vice President +1 519 438 4300 x203 [email protected] Colliers International 401 The West Mall, Suite 800 Toronto, ON M9C 5J5 +1 416 777 2200 collierscanada.com.
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