The Meadows At Rocky Hill 1344-1360 Silas Deane Highway, Rocky Hill, Connecticut

Exclusive Offering www.DoughertyTeam.com TABLE OF CONTENTS Investment Analysis...... 05 Tenant Overviews...... 12 Lead Investment Advisors Location Overview...... 16 Derrick Dougherty First Vice President Investments National Retail Group License: PA RS305854 Ph: (215) 531-7026

Steve Garthwaite Senior Associate National Retail Group License: PA RS332182 Ph: (215) 531-7025

Nick Geaneotes Associate National Retail Group License: PA RS350646 Ph: (215) 531-7071

Mark Krantz Scott Woodard Senior Associate Senior Associate National Retail Group National Retail Group License: PA RS332182 License: PA RS329242 License: NJ 1863254

Pavan Koneru Colin Reder Associate Associate National Retail Group National Retail Group License: PA RS350910 License: PA RS356342

Broker of Record: John Krueger License: REB.0752012

2 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM Town Line Plaza

Hartford, CT 10 Miles | 124K Population The Meadows & Wendy’s 1344-1360 Silas Deane Highway Goff Brooks Shops Rocky Hill, Connecticut 06067

100 Suites

New 2020 146 Rooms Construction

Silas Deane Hwy (24,000 VPD)

3 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM Town Line Plaza 1.3MM Annual Visitors

747K Annual Visitors 99 Suites New Construction

The Meadows & Wendy’s 1344-1360 Silas Deane Highway Rocky Hill, Connecticut 06067

Silas Deane Hwy (24,000 VPD)

Interstate 91 (147,400 VPD) 100 Suites

New 2020 Construction

4 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM 01 INVESTMENT ANALYSIS

5 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM INVESTMENT OVERVIEW The Meadows & Wendy’s 1344-1360 Silas Deane Highway, Rocky Hill, Connecticut 06067 PORTFOLIO PRICING $ OFFERING PRICE: $10,750,000 % CAP RATE: 7.54%

$ NET OPERATING INCOME: $810,328

OFFICE BUILDING PRICING

$ OFFERING PRICE: $9,453,374 % CAP RATE: 7.78%

$ NET OPERATING INCOME: $735,772

WENDY’S PRICING

$ OFFERING PRICE: $1,296,626 % CAP RATE: 5.75%

$ NET OPERATING INCOME: $74,556

OFFERING SUMMARY PROPOSED NEW FINANCING VITAL RETURNS (RECOURSE) Gross Leasable Area (GLA) 58,507 SF Equity (35%) $3,762,500 Current Net Operating Income $810,328 Price / SF $183.74 Loan to Value (65%) $6,987,500 Annual Debt Service ($442,591) Lot Size 2.58 Acres Interest Rate 4.00% Cash Flow After Debt (9.77%) $367,737 Year Built / Renovated 1984 / 2010 / 2020 Amortization 25 Years Principal Reduction $166,115 Occupancy 100% Term 10 Years Total Return (14.19%) $533,852 *Loan information is subject to change. Contact your Marcus & Millichap Capital Parking 211 Spaces | 3.7 spaces / 1,000 sf Debt Service Coverage Ratio 1.65 Corporation representative.

6 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM RENT ROLL

Start End Current Date of Increase Tenant Name SF GLA % Annual $ $/SF Options Lease Type Date Date $/SF Increase Amount PRS over Base Year + United Way 36,990 63.22% Feb-10 Feb-23 $696,152 $18.82 - - - - 5% Mgmt. Fee PRS over Base Year + Gordon, Muir, and Foley Attorneys 3,125 5.34% Jul-17 Sept-22 $59,375 $19.00 Oct-21 $60,156 $19.25 One, (5) Year Option 5% Mgmt. Fee PRS over Base Year + Maxim Healthcare Services 3,175 5.43% Jun-14 Aug-21 $58,420 $18.40 - - - - 5% Mgmt. Fee Sept-21 $56,389 $17.00 PRS over Base Year + Tectonic Engineering 3,317 5.67% May-03 Aug-23 $55,560 $16.75 One, (5) Year Option Sept-22 $57,218 $17.25 5% Mgmt. Fee PRS over Base Year + Almost Family 7,200 12.31% Mar-11 Dec-21 $140,400 $19.50 - - - One, (5) Year Option 4% Mgmt. Fee PRS over Base Year + Verizon Wireless (Cell Tower) 700 1.20% Mar-95 May-21 $34,500 $49.29 - - - Three, (5) Year Options Mgmt Fee Pad Site NNN GL + Wendy's 4,000 6.84% Nov-03 Sept-23 $74,556 $18.64 - - - Four, (5) Year Options 10% Admin Fee Total Square Footage: 58,507 100% $1,118,963 2021 Rent: $1,119,434

58,507 SF Fully Occupied TOTAL LEASABLE AREA TOTAL OCCUPIED

7 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM INCOME AND EXPENSES

INCOME PSF Base Rent (1) $1,119,434 $19.13 Underwriting Notes: Reimbursement Rent (2) Real Estate Taxes $9,303 (1) Base Rent: Is Reflective of 2021 Scheduled Income Operating Expenses (Inclusive of Insurance & Admin Fees) $300,713 (2) Reimbursement Rent: Analysis is Reflective of 2020 Reported Collections Total Reimbursement $310,015 (3) Vacancy: Analysis uses an Underwriting Standard of 3% of Base Rent Gross Income $1,429,450 Vacancy Factor (3% of Base Rent) (3) ($33,583) (4) Expenses: Analysis is Reflective of 2020 Site Expenses (excluding One-Time CapEx items) Effective Gross Income $1,395,867 (5) Reimbursable Expenses: Site Slippage is due to Tenants only reimbursing PRS of Increases in EXPENSES (4) Expenses over the respective Base Years Reimbursable Expenses (5) (6) Management Fee: Analysis uses an Underwriting Standard of 3% of Base Rent Real Estate Taxes $147,943 $2.53 Property Insurance $21,311 $0.36 (7) Reserves: Analysis uses an Underwriting Standard of $0.10 per Square Foot Common Area Maintenance Repairs & Maintenance Repairs & Parking Lot Maintenance $60,399 Hardware $4,408 Janitorial $85,593 Extermination $1,051 Elevator Inspection & Repair $4,674 Security $484 Telephone Service $907 Waste Removal $3,695 Taxes & Licenses $160 Grounds Maintenance Snow Removal $24,532 Landscape Maintenance $6,773 Utilities Electric $153,800 Gas $17,196 Water/Sewer $13,579 Total CAM $377,250 $6.45 Total Reimbursable Expenses $546,505 $9.34 Non Reimbursable Expenses Management Fee (3% of Base Rent) (6) $33,583 Reserves(10 Cents Per Square Foot excluding Wendy’s) (7) $5,451 Non - Reimbursable Expenses $39,034 $0.67 Total Expenses $585,538 $10.01 Net Operating Income $810,328

8 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM RENT COMPARABLES

Address Size Occupancy Rental Range Major Tenants Distance The Meadows Office Building & Wendy’s 58,507 SF 100% 19.61/SF MG (Average) Wendy's, United Way, Verizon Cell Tower - 1344-1360 Silas Deane Hwy., Rocky Hill, CT Valley Brook Professional Center 16,236 SF 78% $17/SF MG (Asking) Office & Medical Tenants 1.1 Miles 2049 Silas Deane Hwy., Rocky Hill, CT St. Francis Care Rocky Hill 41,435 SF 77% $18.50/SF FS (Asking) Office & Medical Tenants 1.2 Miles 2080 Silas Deane Hwy., Rocky Hill, CT Office Building - Wethersfield 44,396 SF 50% $19/SF FS (Asking) Office Tenants 1.2 Miles 936 Silas Deane Hwy., Wethersfield, CT Office Building - Wethersfield 26,344 SF 84% $15.75/SF + Janitorial (Asking) Office Tenants 1.3 Miles 912 Silas Deane Hwy., Wethersfield, CT Office Building - Rocky Hill 67,910 SF 0% $17.50/SF FS (Asking) Available Spaces 3.8 Miles 525 Brook St., Rocky Hill, CT

1.3 Miles Office Building 912 Silas Deane Hwy., Wethersfield, CT

1.2 Miles Office Building 936 Silas Deane Hwy., Wethersfield, CT

The Meadows at Rocky Hill 1344-1360 Silas Deane Hwy., Rocky Hill, CT 1-MILE 2-MILE 3-MILE 1.1 Miles Valley Brook Center 2049 Silas Deane Hwy., Rocky Hill, CT

3.8 Miles 1.2 Office Building Miles 525 Brook St., Rocky Hill, CT St. Francis Care Rocky Hill 2080 Silas Deane Hwy., Rocky Hill, CT

9 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM PROPERTY DETAILS

SITE DESCRIPTION HVAC Gross Leasable Area 58,507 SF (6) Units - Office Building Number of HVAC Units (2) Units - Wendy’s Building Year Built / Renovated 1984 / 2010 / 2020 Parking / Ratio 211 Spaces | 3.7 spaces / 1,000 sf Topography Flat ACCESS Zoning Commercial The Site features (1) points of ingress and egress at the intersection of Silas Deane Highway & Town Line Road PARCELS Number of Tax Parcels (1) Parcel VEHICLE COUNTS Parcel Number(s) ROCK-000001-000000-000001 Silas Deane Highway 24,000 VPD Interstate 91 147,000 VPD PARKING LOT Parking Lot Type Asphalt

10 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM INVESTMENT HIGHLIGHTS

Real Estate Fundamentals Highlights: Class B Suburban Office Building with Stabilized Tenant Roster • Opportunity to acquire a 58,507 square foot, fully leased and stabilized office building with long-term essential and pandemic proof tenants • Additional 0.56-acre pad site currently land leased to a proven Wendy’s Franchisee Dense and Affluent Sub-Market in Hartford County • 156.6K residents within a 5-mile radius of this site with an average household income of $96K Heavily Traveled Corridor with Power Retail Centers and Office Buildings • The subject property is strategically located on Silas Deane Highway, which sees 24K vehicles passing daily • The Site is just 0.2 miles from I-91, an Interstate with over 147K commuters daily Rental Rates in line with Market & Rental Increases in Base Term • The Center’s Rental Rates are In-Line with the Leasing Market & include Rent Escalations for (2) of the Tenants Location Highlights: Site sits just (6) Miles from the State Capital – Hartford, CT • Hartford is the Capital of Connecticut and the fourth largest city in the state • The City is home to the University of Hartford which has over 7,000 students enrolled annually • Bradley International Airport, is just (20) miles north of Hartford and serves in excess of 5.6M Passengers annually Surrounding Retail and Points of interest • The Subject Property benefits from its location on Silas Deane Highway, the main retail thoroughfare in this submarket • Rocky Hill High School is minutes away from the Site, which is home to over 1,800 Students Irreplaceable Positioning Benefitting from New Construction Sites, Hospitals, and Schools The Borden Luxury Apartments • The Borden is a brand new 200-Unit+ luxury apartment complex recently developed less than one mile from The Meadows. • The new apartment complex features one-, two- and three-bedroom apartment units with direct access to major thoroughfares and Downtown Hartford The Learning Experience of Wethersfield • The Learning Experience of Wethersfield is a brand new 10,000 square foot child-care facility directly next to The Meadows. Construction was completed in 2020 and provides Meadows employees convenient child-care services.

11 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM 02 TENANT OVERVIEWS

12 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM TENANT DESCRIPTIONS

Dublin, OH 1969 Franchisee 6,700+/- 13,300+/- wendys.com Headquarters Founded Guarantor Locations Employees Website

About Wendy’s: About The Wendy’s Company: Wendy’s is an American international fast food restaurant chain founded by Dave The Wendy’s Company is an American holding company for the major fast food Thomas on November 15, 1969, in Columbus, Ohio. The company moved its chain, Wendy’s. Its headquarters are in Dublin, Ohio. The company was known headquarters to Dublin, Ohio, on January 29, 2006. As of December 31, 2018, as Deisel-Wemmer Co. from 1884 to 1929, Deisel-Wemmer-Gilbert Corporation Wendy’s was the world’s third-largest hamburger fast-food chain with 6,711 from 1929 to 1946, DWG Cigar Corporation from 1946 to 1966, DWG Corporation locations, following Burger King and McDonald’s. On April 24, 2008, the company from 1966 to 1993, Triarc Companies, Inc. from 1993 to 2008, and Wendy’s/ announced a merger with Triarc Companies Inc., a publicly-traded company Arby’s Group, Inc. from 2008 to 2011, and assumed its current name in 2011. and the parent company of Arby’s. Wendy’s headquarters remained in Dublin. The company’s principal subsidiary, Wendy’s International, is the franchisor of Following the merger, Triarc became known as Wendy’s/Arby’s Group, and later Wendy’s restaurants. as The Wendy’s Company.

13 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM TENANT DESCRIPTIONS

Tenant Description Tenant Info

Headquarters: The mission of United Way of Connecticut is to help meet the needs of Connecticut and its residents by providing information, education and connection to services. We work with Alexandria, VA many partners in the state government and in Connecticut’s communities to implement Locations: strategies that can lead to real community and population-level impact. 1,800+/-

Headquarters: Gordon, Muir & Foley represents diverse clients in a broad range of practice areas. Founded in 1947, we are dedicated to creative and efficient legal solutions tailored to the needs of Rocky Hill, CT each client. Our attorneys are engaged in their practices, frequently educating others, and Locations: continually sharpening and expanding their knowledge. 1

Headquarters: We have been making a difference in the lives of our patients, caregivers, and employees. Our nationwide suite of services includes home healthcare, companion and behavioral Columbia, MD care, healthcare staffing, and workforce solutions. Our commitment to customer service, Locations: compassionate patient care, and filling critical staffing needs makes us a trusted partner. 200+/-

Headquarters: Tectonic Engineering Consultants, Geologists & Land Surveyors, D.P.C. is a multi-disciplined engineering firm established in 1986 with a staff of over 500 professionals comprised of Mountainville, NY civil, structural, environmental and geotechnical engineers, geologists, scientists, surveyors, Locations: planners, construction managers and construction inspectors. 18+/-

Headquarters: At Almost Family, we are more than an organization of home and community based professionals – we are proud members of communities across Central Connecticut. Our Lafayette, LA dedicated caregivers offer personal assistance with everything from grooming and light Locations: housekeeping to transportation and errand running. 300+/-

Headquarters: Verizon Wireless is an American telecommunications company which offers wireless products and services. It is a division of Verizon Communications. Verizon Wireless is the Basking Ridge, NJ second-largest wireless carrier in the United States, with 120.3 million subscribers as of Locations: the end of Q3 2020. 2,300+/-

14 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM LEASE ABSTRACTS

Tenant United Way of Connecticut, Inc. Wnedy’s Properties, LLC

Guarantor Corporate Franchisee Square Footage 36,990 SF 24,683 SF of Land Commencement Date February 10, 2021 November 1, 2003 Expiration Date February 14, 2023 September 30, 2023 Initial Term (20) Year Base Term Automatic Renewal unless Tenant provides notice otherwise (270) days Option Notice Tenant to provide notice (9) months prior to Lease expiration prior to Lease expiration Estoppel/SNDA Tenant to provide certificate within (10) days of Landlord's request Landlord & Tenant to provide certificate within (15) days of request Tenant is responsible for PRS of Increases over Base Year of Real Estate Taxes Tenant is responsible for PRS of Real Estate Taxes Taxes Tenant is responsible for PRS of Increases over Base Year of Insurance Insurance Tenant is responsible for PRS of Insurance Expenses Expenses Tenant is responsible for PRS of Increases over Base Year of CAM Tenant is responsible for PRS of CAM Expenses, not to exceed (10%) of CAM Expenses the total rent paid by Tenant for the Year 5% Expense Cap (excluding Utility Services, Insurance Premiums, Snow CAM cap & Ice Removal, and other Expenses that are not under the direct control - of the Landlord Landlord shall provide Utility Services as described in Lease - Section Utilities Tenant is responsible for Utilities Expenses 22 Admin Fee 10% Administrative Fee of Operating Costs Management Fee 5% Management Fee of the Building's Gross Rentals - Landlord shall be responsible for Roof & Structure repairs and Roof & Structure Tenant is responsible for Roof & Structure repairs and replacement replacement; Tenant shall reimburse for said expenses Landlord shall be responsible for HVAC repairs and replacement; Tenant HVAC (Maint & Replacement) Tenant is responsible for HVAC repairs & replacement shall reimburse for said expenses Tenant shall use and occupy the Premises for general office purposes Permitted Use Tenant shall have the right to operate the Premises as a restaurant only Tenant shall have the right during the term of this Lease to lease all Tenant shall have the right during the term of this Lease to lease the Right of First Offer (Leasing) or any portion of the 5th floor of the Building as such area becomes Property on a one-time basis available Tenant shall have the right to assign this Lease to any affiliate of Tenant may not assign Lease without Landlord's consent; in event of Assignment Note Wendy's International, Inc. and to any franchisee or licensee of Wendy's assignment, Tenant will remain liable for its obligations under this Lease International, Inc., or its affiliate 15 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM 03 LOCATION OVERVIEW

16 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM Interstate 91 (147,400 VPD)

The Meadows & Wendy’s 1344-1360 Silas Deane Highway Rocky Hill, Connecticut 06067 M Rocky Hill High School (726 Total Enrolled)

Walgreen’s

Silas Deane Hwy (24,000 VPD)

Silas Deane Hwy (24,000 VPD)

Interstate 91 (147,400 VPD)

Town Line Plaza Goff Brooks Shops

Town Line Plaza

17 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM LOCATION OVERVIEW

TOP 10 EMPLOYERS (HARTFORD COUNTY)

156,676 61,778 $95,950 Population Households AVG. HH Income within a 5 mile radius within a 5 mile radius within a 5 mile radius

EDUCATION (HARTFORD COUNTY) School Name Students Enrolled

University of Connecticut 27,280

Central Connecticut University 11,822

University of Hartford 6,792

Trinity College 2,235

MAJOR TRANSPORTATION

18 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM REGIONAL MAP

Bridgeport, CT The Meadows & Wendy’s 50 Miles | 144K Population 1344-1360 Silas Deane Highway Rocky Hill, Connecticut 06067 Boston New Haven, CT 30 Miles | 129K Population Hartford, CT 10 Miles | 124K Population

107 Miles to Boston

k or Y ew N to s ile M 0 11 New York

Rocky Hill, Connecticut RADIUS 3 MILE 5 MILE 10 MILES Average HH Income $112,471 $95,950 $90,375

Median HH Income $91,357 $72,692 $64,924

Population 44,887 156,676 573,391

Households(#) 18,741 61,778 226,039

19 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM Derrick Dougherty First Vice President Investments Lic: PA RS305854 (215) 531-7026

Scott Woodard Senior Associate Lic: PA RS329242 (215) 531-7058

Mark Krantz Senior Associate Lic: NJ 1863254 | PA RS336064 (215) 531-7056

Steve Garthwaite Senior Associate License: PA RS332182 (215) 531-7025

Pavan Koneru Associate Lic: PA RS350910 (215) 531-7068 NON-ENDORSEMENT AND DISCLAIMER NOTICE NON-ENDORSEMENTS Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s Nick Geaneotes logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to Associate prospective customers. Lic: PA RS350646 (215) 531-7071 ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus Colin Reder & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to Associate provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained Lic: PA RS356342 herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, (215) 531-7057 the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding Our Locations: the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Philadelphia, PA New Haven, CT New York, NY 2005 Market Street #1510 265 Church Street #210 260 Madison Avenue Marcus & Millichap Real Estate Investment Services of Seattle, Inc. Broker of Record: John Krueger Philadelphia, PA 19103 New Haven, CT 06510 5th Floor License: RB062197C License: REB.0752012 P: 215.531.700020 THE MEADOWSP: 203.672.3310 | ROCKY HILL,New York, CT NY 10016 DOUGHERTYTEAM.COM The Meadows At Rocky Hill 1344 - 1360 Silas Deane Hwy., Rocky Hill, CT 06067

www.DoughertyTeam.com EXCLUSIVELY OFFERED BY: DERRICK DOUGHERTY SCOTT WOODARD MARK KRANTZ STEVE GARTHWAITE (215) 531-7026 | PA RS305854 (215) 531-7058 | PA RS329242 (215) 531-7056 | NJ 1863254 (215) 531-7025 | PA RS332182 [email protected] [email protected] [email protected] [email protected]

NICK GEANEOTES PAVAN KONERU COLIN REDER (215) 531-7071 | PA RS350646 (215) 531-7068 | PA RS350910 (215) 531-7057 [email protected] [email protected] [email protected] 21 THE MEADOWS | ROCKY HILL, CT DOUGHERTYTEAM.COM