Tower Plaza & Rockwood Plaza

TOWER PLAZA & ROCKWOOD PLAZA SHOPPING CENTERS

Two, Value-Add Retail Strip Centers in the Richmond, VA MSA | May Be Acquired Individually or as a Portfolio

TOWER PLAZA SHOPPING CENTER ROCKWOOD PLAZA SHOPPING CENTER EXECUTIVE SUMMARY The Offering Cushman & Wakefield | Thalhimer is pleased to exclusively offer for sale, two unanchored, retail strip centers in the TOWER PLAZA: Investment Summary Richmond, Virginia MSA (“The Portfolio”). Tower Plaza and ADDRESS Rockwood Plaza total 61,534 square feet and are 91% and 94% leased respectively. Both assets benefit from locations in 3401 - 3431 Cox Road Richmond, VA historically strong retail trade areas and affluent surrounding demographics. Each offering their own unique strengths to an RENTABLE SF investor, the assets can be acquired either individually or as ±22,580 a portfolio. SITE SIZE Tower Plaza Shopping Center ±3.18 acres

Tower Plaza is a 22,580 square foot, unanchored retail strip OCCUPANCY center located at the signalized intersection of Cox and Three 91% Chopt Roads in Richmond’s high-performing Northwest Retail Quadrant. The asset is 91% leased to a diverse tenant mix ZONING featuring investment grade tenant Sherwin Williams (S&P: B-2 Business

BBB, Moody’s: Baa3). Almost 70% of the existing tenancy YEAR BUILT has occupied space at the center for 20 years or longer. One 1991 existing vacancy represents the first time the center has dipped below 100% occupancy in over 20 years. The asset is NO. OF TENANTS situated on ±3.2 acres along Cox Road, which sits just across 9 the street from the entrance to Innsbrook Corporate Park – the MAJOR TENANTS area’s largest corporate center with over eight million square El Paso Mexican 4,650 SF feet of office space. Planned and approved commercial and Restaurant residential developments within a mile further strengthen the Sherwin Williams 3,000 SF center’s long-term viability. Organic Cleaners 2,600 SF 2017 DEMOGRAPHICS WTD. AVG. IN-PLACE RENT 1-MILE 3-MILES 5-MILES $16.64/SF NNN Est. Population 8,311 90,516 190,335 PARKING 169 spaces (7.5/1,000 SF) Avg. Household Income $119,369 $106,172 $110,804 PROJ. YEAR 1 NOI Est. Total Employees 11,154 53,508 107,080 $323,414 

CORNER AT SHORT PUMP TOWN CENTER SHORT PUMP  SHORT PUMP VILLAGE WEST BROAD VILLAGE  SHORT PUMP STATION   BROOKHOLLOW SHOPPING CENTER  Tower Plaza Investment Highlights

22,580 square foot, 91% leased retail center with THE TRAILS AT SHORT proven occupancy history PUMP APARTMENTS  64 93,000 VPD 70% of existing tenancy has occupied space at the center for 20 years or longer

THE CROSSINGS AT SHORT PUMP Affluent trade area with strong market fundamentals,  proximate to primary retail corridor West Broad Street and 8.0 MSF Innsbrook Corporate Park – the region’s largest employment center

±3.2 acres situated on a hard signalized corner, with

access from both Cox and Three Chopt Roads THREE CHOPT ROAD CHOPT THREE

SUNOCO Upside opportunity exists through lease up of  remaining vacancy and renewal of existing short COX ROAD 16,000 VPD term tenants

Active trade area with multi-family and hotel developments underway less than a half mile from

16,000 VPD 16,000 the asset

THE VILLAGE AT THREE CHOPT  Lower cost alternative for tenants with desire to be in Richmond’s thriving Northwest Retail Quadrant without the high rents of similar product with frontage along Broad Street

ROCKWOOD PLAZA: Investment Summary

ADDRESS 3501-3555 Courthouse Road Richmond, VA

RENTABLE SF ±38,954

SITE SIZE ±5.204 total acres Rockwood Plaza Shopping Center Rockwood Plaza is a 95% leased, 38,954 square foot strip OCCUPANCY center located at the intersection of Courthouse Road and 95.4% Hull Street Road in Southside Richmond’s Midlothian/E. Hull ZONING Street retail submarket. The asset is leased to a variety of C-3 Business service based, and largely e-commerce resistant users. With population counts in excess of 127,000 and average median YEAR BUILT household incomes over $90,000 within a five mile radius, 1990 the Property benefits from strong demographic metrics in the NO. OF TENANTS immediate trade area. Upside exists through renewal of short- 7 term tenants and “right-sizing” in-place, below market rents. With weighted average in-place rent over $4.00 lower than the MAJOR TENANTS submarket average, the asset gives an investor an opportunity Wolfgang’s Gym 11,550 SF to acquire a stabilized asset with upside at a discount to Ballroom Dance Center 5,623 SF replacement cost. Antioch Christian Church 5,531 SF

2017 DEMOGRAPHICS WTD. AVG. IN-PLACE RENT 1-MILE 3-MILES 5-MILES $7.14/SF NNN

Est. Population 4,523 48,012 127,712 PARKING ±177 parking spaces Avg. Household Income $84,817 $90,517 $90,849 (4.54 per 1,000 RSF)

PROJ. YEAR 1 NOI Est. Total Employees 3,435 10,930 59,599 $243,730 Rockwood Plaza Investment Highlights VICTORIAN SQUARE  GENITO CROSSING  GENITO GLEN APARTMENTS  Niche asset catering to a largely, service-oriented tenant base

43,000 VPD Low cost alternative to similar assets with frontage along Hull Street Road (Route 360) ROCKWOOD PARK APARTMENTS ROCKWOOD SQUARE  

HULL STREET ROAD The asset should trade at a discount to replacement cost

DOLLAR GENERAL  21,000 VPD COURTHOUSE ROAD 34,000 VPD Upside exists through lease up VERIZON of existing vacancy & renewal of EXXON  existing tenants at market rents OXBRIDGE SQUARE  

44,000 VPD

Ample parking and loading capabiilities

Proximate to major Richmond roadways, Route 288, and VA Route 76 (Powhite Parkway) Wyndham Wheatlands Poindexters Ashcake

Nuckols Road 250 301 W. Broa d Street 64 Wingmead 295 Short Pump 295 Glen Allen Amber Lake 250 Atlee 33 Manakin-Sabot INNSBROOK 1  Auburn Chase TOWER PLAZA250 64 301 Lewis Ginter 295 Henrico Botanical 288 Lauderdale Drive Chamberlayne Woods Acres Gardens

Ashwoods 360

Lakeside Mechanicsville

6 Richmond International Tuckahoe 250 Raceway

Subletts Monument Avenue University of East Highland River Road Richmond 301 Park

SCOTT’S Lorraine ADDITION NORTHSIDE 295 NEAR WEST END 64 360

CARYTOWN FAN DISTRICT RICHMOND Highland Springs

DOWNTOWN GRANITE 64 James River Midlothian Bon Air Robious Road Montrose 60 MANCHESTER 64 76 Richmond 60 e 60 Holly Hills Midlothian Turnpik 60 60 International Airport 95 301 288 Hallsboro SOUTH y RICHMOND 360

Powhite Parkwa CLOPTON Williamson 150 Farms 895 76 Whitlock Estates 295 Wilkinson Yahley Terrace Rockwood Mills Estates

 Park Varina Bensley ROCKWOOD PLAZA BRANDERMILL Swift Creek Reservoir 360 95

Bellwood Woodlake Moseley 301 288 INVESTMENT ADVISOR LEASING ADVISOR ChesterfieldFINANCIAL ANALYST County Airport Catharine Spangler Richard ThalhimerPocahontas Calvin Griffith 295 State Park 360 [email protected] [email protected] [email protected] Chesterfield 804 344 7140 804 697 3416 804 344 7158 James River Presquile Dutch Gap National Conservation Area Wildlife 95 Refuge Chester

Winterpock Bermuda Hundred

295 James River

301 Hopewell Windsor Hills Appomattox River

Lake Chesdin

CONFIDENTIALITY AGREEMENT FOR SIGNATURE BY PROSPECTIVE PURCHASER

Thalhimer, Inc. ("Cushman & Wakefield | Thalhimer") March 2018 11100 West Broad Street Glen Allen, VA 23060 RETURN VIA:

Attention: Cushman & Wakefield | Thalhimer Capital Fax: 804 697 3479 Markets - Richmond E-mail: Attn. Catharine Spangler catharine.spangler.com

RE: Tower Plaza | 3401 Cox Road, Henrico, VA (the “Property”)

This will serve to confirm our understanding and agreement concerning certain material, data and information (herein "Evaluation Material") which you will make available to us in connection with a possible purchase by us of the Property. You are prepared to furnish us with the Evaluation Material in connection with discussions and negotiations concerning a possible transaction involving the Property only on the conditions that we treat such Evaluation Material confidentially and confirm certain representations to you. Therefore, as a prerequisite to your furnishing to us the Evaluation Material, we hereby represent and agree as follows:

1. The Evaluation Material furnished to us will be used by us solely for evaluating a possible transaction exclusively for our own account, as principal in the transaction, and not as a broker or agent for any other person. Therefore, we agree to keep all Evaluation Material strictly confidential; provided however, that any of such Evaluation Material may be disclosed to our directors, officers or employees as well as our counsel, accounting firms and financial institution who need to know such information for the purpose of assisting us with our possible purchase of the Property. Such directors, officers, employees, lawyers, financial institutions and accountants shall be informed by us of the confidential nature of such information and shall be directed by us to treat such information with strict confidence.

2. Although you have endeavored to include in the Evaluation Material information which you believe to be relevant for the purpose of helping us in our evaluation of the Property for possible purchase, we understand and acknowledge that neither the owner (“Owner”) of the Property nor Cushman & Wakefield | Thalhimer make any representation or warranty to us as to the accuracy or completeness of the Evaluation Material except as set forth in a definitive agreement. We agree that the Owner and Cushman & Wakefield | Thalhimer shall not have any liability to us as a result of our use of the Evaluation Material except as set forth in a definitive agreement and it is understood that we are expected to perform such due diligence investigations and inspections of the Property as we deem necessary or desirable and as permitted by agreement with the Owner of the Property.

3. We also represent that no broker or agent represents us or will represent us in any possible transactions involving the Property unless we disclose it in writing to Cushman & Wakefield | Thalhimer prior to the receipt of the Evaluation Material and that we fully agree to compensate our broker or agent. Neither Cushman & Wakefield | Thalhimer nor the Owner are responsible for any compensation to be paid to our broker or agent.

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