Retail Capital Markets Report Saint Louis - MO

PREPARED BY

Hal Ball Senior VP/Principal Saint Louis

RETAIL CAPITAL MARKETS REPORT - MARKET

Capital Markets Overview 2 Market Pricing 7 Buying & Selling By Owner Type 9 Investment Trends By Buyer & Seller Origin 10 Submarket Sales Trends 11 Recent Significant Sales 12 Players 16

5/5/2020 Copyrighted report licensed to Hilliker Corporation - 546805 Capital Markets Overview Saint Louis Retail

Asset Value 12 Mo Sales Volume Market Cap Rate 12 Mo Mkt Sale Price/SF Chg $23.6B $428.9M 8.3% 3.3%

12 MO SALES VOLUME Total Lowest Highest 12 MO SALES PRICE Average Lowest Highest Market Transactions 634 - - Cap Rate 7.6% 4.4% 16.0% 8.3% Sales Volume $428.9M $37K $20.8M Sale Price/SF $112 $4 $1.7K $135 Properties Sold 596 - - Average Sale Price $1.6M $37K $20.8M - Transacted SF 8.1M 182 1.3M Sale vs Asking Price -7.7% -55.6% 9.1% - Average SF 12.8K 182 1.3M % Leased at Sale 96.2% 0% 100% -

KEY PERFORMANCE INDICATORS

SUMMARY

Investors have been active in St. Louis retail, with Investment firms had been selling retail properties in the roughly $1 billion trading from early 2018-20. Pricing metro faster than they have been acquiring them. The was elevated and total investment was near the previous largest deal of the past four quarters was an example of year's level in 19Q4. Cap rates were above 7.5% as the this: the 3 Star, roughly 205,000-SF Ballwin Plaza sold year came to a close, having compressed from the for $20.9 million ($101.78/SF) in September 2019. previous year's rate near 8.2%. At the start of 2020, National developer and owner Select Strategies Realty nearly $10 million had changed hands across 15 deals, purchased the community center from fellow Ohio-based averaging a 9.7% cap rate. However, investment volume investment firm Viking Partners. The property was nearly should weaken this year, with the economic crisis taking 95% leased at the time of sale and yielded a 7.75% cap center stage.

5/5/2020 Copyrighted report licensed to Hilliker Corporation - 546805 Page 2 Capital Markets Overview Saint Louis Retail rate. The closest deal by volume to Ballwin Plaza neighborhood center from Select Strategies Realty. The happened in December 2018 when Florrisant property was completely occupied at the time of sale, Marketplace sold for $16.6 million ($113/SF). Polimeni yielding an 8.7% cap rate. International purchased the nearly 150,000-SF

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MARKET SALE PRICE & ACTUAL SALE PRICE PER SF

MARKET CAP RATE & ACTUAL CAP RATE

SALES VOLUME BY TRANSACTION TYPE

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SALE PRICE PER SF DISTRIBUTION PAST 12 MONTHS CAP RATE DISTRIBUTION PAST 12 MONTHS

SALE PRICE PER SF BY TRANSACTION TYPE CAP RATE BY TRANSACTION TYPE

CUMULATIVE SALES VOLUME BY YEAR SOLD SF AS % OF TOTAL SF

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SALES VOLUME BY BUYER TYPE PAST 12 MONTHS ASSET VALUE BY OWNER TYPE

SALE TO ASKING PRICE DIFFERENTIAL OCCUPANCY AT SALE

MONTHS TO SALE PROBABILITY OF SELLING IN MONTHS

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MARKET SALE PRICE PER SF BY LOCATION TYPE MARKET CAP RATE BY LOCATION TYPE

MARKET SALE PRICE PER SF BY STAR RATING MARKET CAP RATE BY STAR RATING

MARKET SALE PRICE PER SF DISTRIBUTION MARKET CAP RATE DISTRIBUTION

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4-5 STAR MARKET SALE PRICE PER SF DISTRIBUTION 4-5 STAR MARKET CAP RATE DISTRIBUTION

3 STAR MARKET SALE PRICE PER SF DISTRIBUTION 3 STAR MARKET CAP RATE DISTRIBUTION

1-2 STAR MARKET SALE PRICE PER SF DISTRIBUTION 1-2 STAR MARKET CAP RATE DISTRIBUTION

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SALES VOLUME BY BUYER TYPE

SALES VOLUME BY SELLER TYPE

NET BUYING & SELLING BY OWNER TYPE

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SALES VOLUME BY BUYER ORIGIN PAST 12 MONTHS SALES VOLUME BY BUYER ORIGIN PAST 12 MONTHS

SALES VOLUME BY OWNER ORIGIN

Total Local National Foreign Year Sales Volume Bought Sold Net Trans Bought Sold Net Trans Bought Sold Net Trans YTD $61.5M $26.2M $25.2M $1M $14.6M $29.8M ($15.2M) $480K $408.3K $71.7K 2019 $493.8M $141.7M $179.2M ($37.5M) $291M $273.9M $17.2M $3M $7M ($4M) 2018 $503.5M $140.2M $168.9M ($28.7M) $278M $259.9M $18.2M $1.9M $309K $1.6M 2017 $350.4M $93.1M $129.4M ($36.2M) $179.2M $163.6M $15.6M $2M $2.1M ($187.5K) 2016 $455.8M $131.4M $201.1M ($69.7M) $249.1M $172.8M $76.3M $1.3M $7.4M ($6.1M) 2015 $465.3M $126.1M $186.6M ($60.5M) $303.8M $234M $69.8M $14.2M $7.6M $6.6M 2014 $387.6M $123M $135.3M ($12.2M) $232.8M $229.3M $3.5M $4.5M $3.6M $909.5K 2013 $365.9M $78.8M $134.2M ($55.4M) $232.2M $182.6M $49.5M $8.4M $21.7M ($13.3M) 2012 $372.5M $127.5M $159.1M ($31.6M) $182.6M $160.2M $22.4M $4.8M $6.3M ($1.5M) 2011 $566.3M $69.1M $161.8M ($92.7M) $364.4M $323.2M $41.2M $88.2M $41.4M $46.8M 2010 $227.8M $45.1M $102M ($57M) $135.3M $83.3M $52M $1.3M $1.3M ($38.2K)

SALE PRICE PER SF BY BUYER ORIGIN CAP RATE BY BUYER ORIGIN

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SUBMARKET SALES TRANSACTIONS PAST 12 MONTHS

Submarket Name Sales Volume Transactions Transacted SF Avg SF Mkt Cap Rate Mkt Sale Price/SF St Charles Region $49,918,410 47 637,164 13,557 8.1% $130 Metro East Illinois $49,831,242 47 474,676 10,099 8.4% $129 Northwest County $45,974,052 75 769,916 10,266 8.4% $126 NE Metro Illinois $43,270,008 55 497,428 9,044 8.3% $114 West County $42,493,124 26 512,441 19,709 8.0% $145 South County $42,305,242 34 445,543 13,104 8.1% $144 St Charles County $26,782,986 22 301,354 13,698 8.1% $154 Mid County $21,074,593 47 366,784 7,804 8.1% $160 North County $20,357,320 34 437,292 12,862 8.6% $124 Chesterfield Region $16,565,000 20 1,528,007 76,400 8.1% $150 St Louis City North $12,095,000 39 381,671 9,786 8.5% $121 St Louis City South $10,930,800 55 281,960 5,127 8.8% $109 SE Metro Illinois $9,524,911 19 200,860 10,572 8.0% $145 Outer Metro Illinois $9,351,000 7 36,623 5,232 8.2% $126 Southwest County $5,542,000 20 310,803 15,540 8.0% $157 Lincoln County $5,004,492 6 113,984 18,997 8.3% $140 Outer Jefferson Cnty $3,122,001 10 141,848 14,185 8.3% $120 Macoupin County $2,897,000 9 56,934 6,326 8.7% $125 Franklin County $2,378,400 25 201,705 8,068 8.4% $125 Clinton County $2,313,500 5 55,564 11,113 8.5% $149 Jefferson County $1,745,000 13 101,067 7,774 8.2% $126 Outer St Charles Cnty $1,590,000 7 51,360 7,337 8.1% $150 Bond County $1,282,075 2 4,124 2,062 8.3% $167 Crawford County $1,092,500 6 140,190 23,365 8.2% $143 Warren County $925,000 1 59,290 59,290 8.2% $129 Outer St Louis County $349,999 4 33,172 8,293 8.1% $153 Jersey County $200,000 1 3,574 3,574 8.4% $154

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15401-15425 Rd • Ballwin Plaza Ballwin Plaza • West County Submarket • Ballwin, MO 63011 Sale Date Sep 2019 Buyer Select Strategies Realty (USA) Sale Price $20.8M ($101/SF) Seller Viking Partners (USA) Cap Rate 7.8% (Actual) Broker Mid-America Real Estate Corp. Leased 93% Sale Type Investment Hold Period 58 Months RBA 204,859 SF Year Built 1960 (Renov 1987)

1315-1381 Bass Pro Dr • Mark Twain Village - Bldg II Mark Twain Village • St Charles Region Submarket • Saint Charles, MO 63301 Sale Date May 2019 Buyer First National Realty Partn… (USA) Sale Price $13.2M ($97/SF) Seller Cohen Real Estate (USA) +1 Leased 100% Broker Cushman & Wakefield Hold Period 96 Months Sale Type Investment RBA 135,572 SF Year Built 1969 (Renov 2003)

1287 Central Park Dr • At Home Central Park Plaza • Metro East Illinois Submarket • O'Fallon, IL 62269 Sale Date Jul 2019 Buyer National Retail Properties,… (USA) Sale Price $10.7M ($76/SF) Seller VEREIT, Inc. (USA) Leased 100% Sale Type Investment Hold Period 34 Months Sale Cond Bulk/Portfolio Sale, Investment Triple Net RBA 141,280 SF Year Built 1998

7363-7421 Watson Rd • The Center at Kenrick Plaza Kenrick Plaza • South County Submarket • Saint Louis, MO 63119 Sale Date Nov 2019 Buyer Sandeep Bhalla (USA) Sale Price $10.1M ($126/SF) Seller Daniel L. Jones (USA) Cap Rate 8.1% (Actual) Broker Marcus & Millichap Leased 91% Sale Type Investment Hold Period 53 Months RBA 79,959 SF Year Built 1987 (Renov 2016)

12222 Saint Charles Rock Rd • Plaza at De Paul- Kohl's Plaza at De Paul • Northwest County Submarket • Bridgeton, MO 63044 Sale Date Sep 2019 Buyer The R.H. Johnson Company (USA) Sale Price $9.8M ($96/SF) Seller The Lightstone Group (USA) Leased 100% Broker CBRE Hold Period <1 Month Sale Type Investment RBA 102,000 SF Year Built 1984

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122-144 S County Center Way • Tenholder Plaza Tenholder Plaza • South County Submarket • Saint Louis, MO 63129 Sale Date Sep 2019 Buyer Envision New York (USA) Sale Price $9.5M ($214/SF) Seller Tenholder Properties Inc (USA) Cap Rate 6.8% (Actual) Broker Marcus & Millichap Leased 88% Sale Type Investment Hold Period 20+ Years RBA 44,339 SF Year Built 1963

49-53 Ludwig Dr • Fairview Heights Plaza Fairview Heights Plaza • Metro East Illinois Submarket • Fairview Heights, IL 62208 Sale Date Aug 2019 Buyer Elliot Nassim (USA) Sale Price $9.1M ($290/SF) Broker CBRE, Inc Leased 95% Seller Wells Fargo Bank (USA) Hold Period 20+ Years Broker CBRE, Inc RBA 31,252 SF Sale Type Investment Year Built 1990 (Renov 2002)

9810 Perrin Rd • Huddle House Outer Metro Illinois Submarket • Mascoutah, IL 62258 Sale Date Nov 2019 Buyer Energy Petroleum Co (USA) Sale Price $8.7M ($1.2K/SF) Seller DSS Properties LLC (USA) Leased 100% Sale Type Investment Hold Period 70 Months RBA 7,282 SF Year Built 2014

1365 S 5th St • Bass Pro Shops Mark Twain Village • St Charles Region Submarket • Saint Charles, MO 63301 Sale Date May 2019 Buyer First National Realty Partn… (USA) Sale Price $8.6M ($82/SF) Seller Cohen Real Estate (USA) +1 Leased 100% Broker Cushman & Wakefield Hold Period 96 Months Sale Type Investment RBA 105,092 SF Year Built 1968

12224-12298 Saint Charles Rock Rd • Plaza at De Paul Plaza at De Paul • Northwest County Submarket • Bridgeton, MO 63044 Sale Date Sep 2019 Buyer The R.H. Johnson Company (USA) Sale Price $8.2M ($96/SF) Seller The Lightstone Group (USA) Leased 79% Broker CBRE Hold Period 94 Months Sale Type Investment RBA 86,082 SF Year Built 1985 (Renov 1999)

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5733 S Lindbergh Blvd • Red Lobster South County Submarket • Saint Louis, MO 63123 Sale Date Jul 2019 Buyer The Advisory Group (USA) Sale Price $7.4M ($760/SF) Seller VEREIT, Inc. (USA) Cap Rate 6.3% (Actual) Broker Marcus & Millichap Inc Leased 100% Sale Type Investment Hold Period 60 Months Sale Cond Investment Triple Net RBA 9,783 SF Year Built 1972 (Renov 1990)

1431-1465 Bass Pro Dr • Bldg III Mark Twain Village • St Charles Region Submarket • Saint Charles, MO 63301 Sale Date May 2019 Buyer First National Realty Partn… (USA) Sale Price $6.8M ($98/SF) Seller Cohen Real Estate (USA) +1 Leased 91% Broker Cushman & Wakefield Hold Period 96 Months Sale Type Investment RBA 69,083 SF Year Built 2003

15678-15686 Manchester Rd West County Submarket • Ellisville, MO 63011 Sale Date Jun 2019 Buyer Mayson Capital Partners,… (USA) Sale Price $6.6M ($101/SF) Seller Cypress Real Estate, LLC (USA) Leased 100% Sale Type Investment Hold Period 64 Months RBA 65,126 SF Year Built 1980

9826-9844 Clayton Rd Mid County Submarket • Saint Louis, MO 63124 Sale Date Jan 2020 Buyer Mary R Wolff Real Estate… (USA) Sale Price $6.1M ($633/SF) Seller Cicero Investment Associ… (USA) Leased 100% Broker Gershman Commercial Real Estate Hold Period 20+ Years Sale Type Investment RBA 9,565 SF Year Built 1956

4220 Highway K • Little Sunshine's Playhouse St Charles County Submarket • O'Fallon, MO 63368 Sale Date Jun 2019 Buyer Centerco Properties (USA) Sale Price $5.9M ($603/SF) Broker Westwood Net Lease Advisors Cap Rate 7.5% (Actual) Seller Buttry Realty Partners, LLC (USA) Leased 100% Broker Sands Investment Group Santa Monic… Hold Period 5 Months Sale Type Investment RBA 9,726 SF Year Built 2019

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190 N Florissant Rd • Walgreens Northwest County Submarket • Saint Louis, MO 63135 Sale Date Oct 2019 Buyer Oak Street Real Estate C… (USA) Sale Price $5.7M ($368/SF) Broker CBRE Leased 100% Seller ,… (USA) Hold Period 237 Months Broker CBRE RBA 15,377 SF Sale Type Investment Year Built 2000 Sale Cond Bulk/Portfolio Sale, Investment Triple…

1190 Collinsville Crossing Blvd • Walgreens Collinsville Crossing • Metro East Illinois Submarket • Collinsville, IL 62234 Sale Date Aug 2019 Buyer Danzger, Joshua (USA) Sale Price $5.4M ($362/SF) Seller Argos Partners (USA) Cap Rate 6.2% (Actual) Sale Type Investment Leased 100% Sale Cond Investment Triple Net Hold Period 128 Months RBA 14,820 SF Year Built 2007

805 S Vandeventer Ave • Raising Cane's St Louis City South Submarket • Saint Louis, MO 63110 Sale Date Sep 2019 Buyer United American Properties (USA) Sale Price $5M ($1.7K/SF) Broker Hanley Investment Group Cap Rate 6.0% (Actual) Seller Noles Properties (USA) Leased 100% Broker Hanley Investment Group Hold Period 7 Months Sale Type Investment RBA 2,913 SF Sale Cond Investment Triple Net Year Built 2019

11005 Riverview Dr • MotoMart North County Submarket • Saint Louis, MO 63138 Sale Date Nov 2019 Buyer Agree Convenience No 1… (USA) Sale Price $5M ($675/SF) Broker Blue West Capital, LLC. Leased 100% Seller Hurd Riverview Llc (USA) RBA 7,402 SF Broker Blue West Capital, LLC. Sale Type Investment

5790 Lucas and Hunt Rd • Walgreens Northwest County Submarket • Saint Louis, MO 63136 Sale Date Jul 2019 Buyer IRC Retail Centers (USA) Sale Price $4.9M ($329/SF) Seller Walgreens Boots Alliance,… (USA) Image Not Available Cap Rate 7.0% (Actual) Broker CBRE Leased 100% Sale Type Investment Hold Period 100 Months Sale Cond 1031 Exchange, Investment Triple Net RBA 14,820 SF Year Built 2008

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TOP OWNERS

Company Name Owned SF Owned Props Avg SF 12 Mo Bought 12 Mo Sold 12 Mo Net Trans , Inc. 4,770,504 35 136,300 - - - The Kroenke Group 4,747,986 103 46,097 - - - CBL & Associates Properties, Inc. 3,330,916 24 138,788 - - - The DESCO Group 2,793,571 48 58,199 $8,570,000 - $8,570,000 2,680,478 21 127,642 - - - Capitol Realty Group, Inc. 2,271,003 66 34,409 - - - The Staenberg Group 1,911,320 13 147,025 - $850,000 ($850,000) Schnuck Markets, Inc. 1,688,407 36 46,900 - - - Lodging Hospitality Management 1,575,124 6 262,521 - - - G. J. Grewe Brokerage & Development 1,558,631 29 53,746 - - - , Inc. 1,502,900 13 115,608 - - - Dierbergs Markets, Inc. 1,451,856 30 48,395 - - - Select Strategies Realty 1,311,135 20 65,557 $20,750,000 - $20,750,000 1750 Coney Island Avenue LLC 1,191,666 1 1,191,666 - - - Macy's, Inc. 1,184,842 5 236,968 - - - Lowe’s Companies, Inc. 1,021,881 8 127,735 - - - Brookfield Asset Management, Inc. 1,001,532 18 55,641 - - - Dillard's, Inc. 975,550 4 243,888 - - - CORFAC International Inc. 957,841 20 47,892 - - - Nuveen 858,379 6 143,063 - - - RPT Realty 827,431 21 39,401 - - - Pace Properties Incorporated 821,811 18 45,656 - $8,465,000 ($8,465,000) Hull Property Group 796,100 4 199,025 - - - Realty Income Corporation 767,394 68 11,285 - - - APG Groep NV 738,844 3 246,281 - - - Gershman Commercial Real Estate 665,758 25 26,630 - - - Mernard, Inc. 653,454 3 217,818 - - - Bianco Properties 626,912 10 62,691 - - - JCPenney Company, Inc. 618,974 5 123,795 - - - IKEA US, Inc. 616,390 3 205,463 - - - Regency Centers Corporation 587,301 10 58,730 - - - National Retail Properties, Inc 560,166 48 11,670 $10,671,947 $4,800,000 $5,871,947 Kohl's Corporation 507,606 7 72,515 - - - R.L.P. Development Company, Inc. 503,789 28 17,992 $3,000,000 $1,900,000 $1,100,000 Pentaco Management, Inc. 498,330 1 498,330 - - - RL Jones Properties, LLC 462,793 9 51,421 - - - Retail Properties of America, Inc. 453,104 6 75,517 - - - Walgreens Boots Alliance, Inc. 450,939 31 14,546 - $18,738,562 ($18,738,562) Goldman Sachs & Company 446,897 10 44,690 - - - McDonald's Corporation 442,035 97 4,557 - - - VEREIT, Inc. 439,097 53 8,285 - $22,649,741 ($22,649,741) Menards, Inc. 436,259 4 109,065 - - -

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TOP BUYERS PAST 12 MONTHS

Company Name Sales Volume Transactions Transacted SF Avg SF Cap Rate Sale Price/SF First National Realty Partners $29,258,660 4 316,742 79,186 - $92 Select Strategies Realty $20,750,000 1 204,859 204,859 7.8% $101 The R.H. Johnson Company $19,297,776 7 201,593 28,799 - $96 Oak Street Real Estate Capital $13,860,864 3 39,916 13,305 - $347 National Retail Properties, Inc $10,671,947 1 141,280 141,280 - $76 Sandeep Bhalla $10,100,000 1 79,959 79,959 8.1% $126 Danzger, Joshua $9,976,217 2 29,630 14,815 6.4% $337 Centerco Properties $9,662,298 2 16,058 8,029 7.2% $602 Envision New York $9,500,000 1 44,339 44,339 6.8% $214 Elliot Nassim $9,050,000 1 31,252 31,252 - $290 Energy Petroleum Co $8,700,000 1 7,282 7,282 - $1,195 The DESCO Group $8,570,000 3 17,416 5,805 - $492 Mayson Capital Partners, LLC $7,540,000 2 70,126 35,063 - $108 The Advisory Group $7,434,294 1 9,783 9,783 6.3% $760 Mary R Wolff Real Estate Management Comp… $6,050,000 1 9,565 9,565 - $633 Ghattas Trust $5,900,000 2 107,605 53,803 10.7% $55 United American Properties $5,025,000 1 2,913 2,913 6.0% $1,725 DRA Advisors LLC $4,877,698 1 14,820 14,820 7.0% $329 Allegiant Travel Company $4,800,000 1 60,655 60,655 - $79 5701 Investors LLC $4,760,000 1 16,650 16,650 6.5% $286 Chez Paree Partners, L.P. $4,760,000 1 16,650 16,650 6.5% $286 Four Corners Property Trust, Inc. $4,543,500 1 7,377 7,377 - $616 , Inc. $4,050,000 2 48,695 24,348 - $83 Ghattas M Ghattas $4,000,000 1 39,810 39,810 8.1% $100 Fowler Foods $3,896,500 1 11,733 11,733 - $332 Lawrence H. Nagler $3,784,667 1 7,681 7,681 6.2% $493 Retail Technology Group $3,642,000 1 56,282 56,282 - $65 Orda Corporation $3,511,992 1 70,002 70,002 - $50 AMERCO $3,500,000 4 214,388 53,597 - $16 Exchangeright net leased portfolio $3,387,097 1 10,157 10,157 6.2% $333 Bay Area Juniors Alliance Inc $3,280,000 1 13,905 13,905 - $236 Thomas T Tomeoni $3,165,000 1 6,447 6,447 6.0% $491 Premier Real Estate Services $3,163,889 1 14,490 14,490 9.0% $218 R.L.P. Development Company, Inc. $3,000,000 2 6,652 3,326 - $451 Quattro Development $2,910,000 1 18,445 18,445 - $158 Chick-Fil-A, Inc. $2,885,000 1 5,500 5,500 - $525 Lawrence Group $2,850,000 2 60,036 30,018 - $47 Emerald Equity Group $2,815,948 2 21,378 10,689 - $132 Berkshire Hathaway Inc. $2,802,500 4 11,056 2,764 - $253 JRW Investments $2,650,000 1 13,905 13,905 - $191 Tsai Investments $2,650,000 1 143,569 143,569 - $18 Norle Investments, Inc. $2,610,000 1 5,048 5,048 7.4% $517

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TOP SELLERS PAST 12 MONTHS

Company Name Sales Volume Transactions Transacted SF Avg SF Cap Rate Sale Price/SF Cohen Real Estate $29,258,660 4 316,742 79,186 - $92 DRA Advisors LLC $29,258,660 4 316,742 79,186 - $92 VEREIT, Inc. $22,649,741 3 158,440 52,813 6.3% $143 Viking Partners $20,750,000 1 204,859 204,859 7.8% $101 Lightstone Group $19,297,776 7 201,593 28,799 - $96 Walgreens Boots Alliance, Inc. $18,738,562 4 54,736 13,684 7.0% $342 Daniel L. Jones $10,100,000 1 79,959 79,959 8.1% $126 Wells Fargo & Company $9,520,000 2 124,802 62,401 - $76 Tenholder Properties Inc $9,500,000 1 44,339 44,339 6.8% $214 DSS Properties LLC $8,700,000 1 7,282 7,282 - $1,195 Angelo, Gordon & Co. $8,570,000 3 17,416 5,805 - $492 Cypress Real Estate, LLC $6,600,000 1 65,126 65,126 - $101 Cicero Investment Associates, LLC $6,050,000 1 9,565 9,565 - $633 Buttry Realty Partners, LLC $5,867,622 1 9,726 9,726 7.5% $603 Argos Partners $5,365,853 1 14,820 14,820 6.2% $362 Noles Properties $5,025,000 1 2,913 2,913 6.0% $1,725 National Retail Properties, Inc $4,800,000 1 60,655 60,655 - $79 ArciTerra Group, LLC $4,760,000 1 16,650 16,650 6.5% $286 The Landes Group $4,610,364 1 14,810 14,810 6.6% $311 JBR Realty, Inc. $4,050,000 2 48,695 24,348 - $83 David L Fry Revocable Trust $4,000,000 1 39,810 39,810 8.1% $100 James Sprick $4,000,000 1 39,810 39,810 8.1% $100 CVS Health $3,896,500 2 24,958 12,479 - $156 Quattro Development $3,794,676 1 6,332 6,332 7.0% $599 Illuminate Real Estate $3,784,667 1 7,681 7,681 6.2% $493 Olde Coach Inc $3,650,000 2 39,620 19,810 - $92 Robert Kaplan Trust $3,642,000 1 56,282 56,282 - $65 Raul Walters Properties $3,511,992 1 70,002 70,002 - $50 Greg Berg $3,500,000 1 74,500 74,500 10.1% $47 Broad Reach Retail Partners, LLC $3,427,143 2 5,195 2,598 6.6% $660 WEC 99J-15 LLC $3,387,097 1 10,157 10,157 6.2% $333 Moller & Barrett, LLP $3,280,000 1 13,905 13,905 - $236 Kuldip Bajwa $3,165,000 1 6,447 6,447 6.0% $491 Pecho Foods Inc $3,163,889 1 14,490 14,490 9.0% $218 Childgarden $2,910,000 1 18,445 18,445 - $158 Charles P. Vaughn $2,885,000 1 5,500 5,500 - $525 Herrmann Companies $2,850,000 2 60,036 30,018 - $47 Starwood Capital Group $2,815,948 2 21,378 10,689 - $132 Hurwitz Enterprises $2,650,000 1 13,905 13,905 - $191 Michelle Wu $2,650,000 1 143,569 143,569 - $18 Dobbs Tire & Auto Centers $2,610,000 1 5,048 5,048 7.4% $517 Lee & Associates $2,550,000 1 2,640 2,640 5.7% $966

5/5/2020 Copyrighted report licensed to Hilliker Corporation - 546805 Page 18 Players Saint Louis Retail

TOP BROKERS PAST 12 MONTHS

Company Name Sales Volume Transactions Transacted SF Avg SF Cap Rate Sale Price/SF CBRE $67,249,269 24 583,847 24,327 6.5% $115 Marcus & Millichap $58,495,631 26 294,031 11,309 8.0% $199 Pace Properties Incorporated $50,194,800 17 652,770 38,398 5.7% $77 Cushman & Wakefield $39,185,660 9 449,912 49,990 7.9% $87 Mid-America Real Estate Corp. $20,750,000 2 207,559 103,780 7.8% $100 Hanley Investment Group $19,571,087 6 26,391 4,399 5.9% $742 Westwood Net Lease Advisors $16,817,685 4 39,560 9,890 7.1% $425 Colliers International $16,540,624 13 76,687 5,899 7.0% $216 NAI Global $12,607,500 6 138,559 23,093 - $91 A&M Realty Inc $11,260,000 6 155,115 25,853 9.8% $73 Blue West Capital, LLC. $11,227,500 3 23,830 7,943 6.7% $471 Lee & Associates $10,774,455 4 30,308 7,577 6.8% $355 The Boulder Group $10,371,210 5 21,866 4,373 6.1% $474 L3 Corporation $7,710,000 3 82,967 27,656 - $93 Gershman Commercial Real Estate $7,350,000 5 28,002 5,600 - $262 Sands Investment Group Management, LLC $5,867,622 1 9,726 9,726 7.5% $603 BarberMurphy Group $5,742,500 14 89,410 6,386 12.4% $64 Judy M. Realty Company $5,300,000 2 287,138 143,569 - $18 McKelvey Properties, Inc. $5,150,000 3 51,520 17,173 - $100 Gundaker Commercial $5,085,000 8 97,693 12,212 - $52 Jeff Eisenberg & Associates $4,950,000 4 123,506 30,877 - $40 RDO Investments LLC $4,760,000 1 16,650 16,650 6.5% $286 JLL $4,640,000 3 149,776 49,925 - $31 Matthews Real Estate Investment Services $4,620,000 3 11,691 3,897 6.5% $395 Lawyers Realty Co., LLC $4,610,364 1 14,810 14,810 6.6% $311 Pharma Property Group- Drugstore Specialists $4,610,364 1 14,810 14,810 6.6% $311 Capital Pacific $3,794,676 1 6,332 6,332 7.0% $599 Amanda Robertson $3,784,667 1 7,681 7,681 6.2% $493 SRS Real Estate Partners $3,750,000 3 9,015 3,005 6.2% $416 Realogy Corporation $3,710,000 5 35,661 7,132 10.1% $104 Disney Investment Group $3,511,992 1 70,002 70,002 - $50 Upland Real Estate Group, Inc. $3,280,000 1 13,905 13,905 - $236 Vantis Capital Advisors $3,165,000 1 6,447 6,447 6.0% $491 Urban Space Commercial $2,610,000 1 5,048 5,048 7.4% $517 Hilliker Corporation $2,550,000 6 73,805 12,301 - $35 The NNN Investment Company $2,415,000 1 4,550 4,550 4.6% $531 Cotton Inc $2,400,000 1 33,105 33,105 11.3% $72 Wittenauer Properties $2,350,000 1 20,904 20,904 - $112 RE/MAX, LLC $2,185,000 11 51,701 4,700 - $42 Newmark Grubb Zimmer $2,134,000 4 111,397 27,849 - $19 Shockley Commercial $2,001,000 4 16,241 4,060 - $123 Realty Executives of St. Louis $2,000,000 2 17,574 8,787 - $114

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