NORTH CAROLINA RESEARCH CAMPUS 800 - 814 N MAIN ST KANNAPOLIS, NC Northstate Data Center

Rail Line

Rowan-Cabarrus Community College Loop Road N. Biotechnology Building Nutrition Research Bldg Plants for Human Health Bldg UNC Chapel Hill * NC A&T NC State / Appalachian State UNC Greensboro * NC Central UNC Charlotte

N. Main Street

Core Lab Murdock Research / Standard Process Institute UNC Charlotte / Dole / NC A&T Municipal Center Kannapolis City Hall / Police Station

Sports & Entertainment Venue * 4,930 seat stadium * Cannon Ballers home field

NCRC Medical Plaza * Multi-purpose facility Duke University / Atrium * Opening in 2020 Dale Earnhardt Plaza

Amtrack Station

Dale Earnhardt Blvd

Cabarrus Health Alliance

13,000 VPD Chestnut Avenue

VIDA * 286 Apartments * 125 Hotel Rooms

Oak Avenue * 400 Space Garage Oak Avenue Shopping Center Vance Avenue 2 S. Main Street 3 1

1

Castle & Cooke reserves the right to adjust available acreage as needed- to provide for parking requirements.

Available Land and Acreage

Parcel ID: 149 119, Rowan County, NC

Acreage: 2.24

Zoning: OI

4 5 EXECUTIVE SUMMARY

Located in the Heart of Kannapolis’ Downtown Revitalization Plan

KEY HIGHLIGHTS

Integrated in the North Carolina Research Campus, a growing $600 million life sciences campus with 1,000 + employees and notable tenants including UNC Chapel Hill, NC State, Duke University, Appalachian State, Atrium Health, .

New $52 million, 4,930 seat Kannapolis Sports Entertainment Venue is under construction behind Oak Avenue and will be open for the 2020 season.

Downtown Kannapolis revitalization projects include major infrastructure and streetscape improvements and VIDA - a new mixed-use property including 286 multifamily units, 125 room hotel and 400 space parking deck. 6 7 Traffic Count 7,900 ADT on N. Main Street

EXECUTIVE SUMMARY Trade Area Demographics

1-Mile 3-Mile 5-Mile Radius Radius Radius

POPULATION

2019 Population 6,651 41,677 72,348

2024 Population 6,917 43,527 76,259

2010-2019 Annual Pop Growth Rate 0.88% 0.84% 1.10%

2019-2024 Annual Pop Growth Rate 0.79% 0.87% 1.06%

HOUSEHOLD INCOME

2019 Average Household Income $47,951 $56,669 $65,513

2024 Average Household Income $55,524 $67,041 $76,809

2019 Median Household Income $37,295 $43,014 $49,363

2024 Median Household Income $42,630 $51,005 $56,415

HOUSING VALUE

2019 Median Value of Housing Units $100,950 $127,992 $142,814

2019 Average Value Housing Units $122,441 $154,247 $193,542

8 9 CASTLE & COOKE

Castle & Cooke was founded in 1851 as a partnership that sold farm tools, sewing equipment and medicine. From humble David H. Murdock acquired Fieldcrest Cannon in beginnings operating a general store to a worldwide leader in food, 2004 and announced his plans for a $1.5 billion transportation, and real estate industries, scientific and economic revitalization project called and entrepreneurial spirit and vision continues. the North Carolina Research Campus.

After their passing, Castle & Cooke at Castle & Cooke. Castle & Cooke THE GOAL OF THE NRCR IS TO: acquired various companies eventually continues to focus on meeting this becoming the real estate arm of Dole important goal. Food Company. David H. Murdock, current chairman, president and chief executive officer, along with his management team

CONTRIBUTE DEVELOP INNOVATE

Contribute to the production of Develop clinical applications of Innovate in the fields of safer, more nutritious crops and targeted nutrition and precision bioinformatics and multi-omic healthier foods medicine discovery platforms.

1 0 1 1 FASTEST GROWING TECH TALENT MARKETS

Charlotte 48.4% Madison, WI 47.0% Ft. Lauderdale CHARLOTTE ACCOLADES 46.8% Jacksonville 40.7%

Salt Lake City 38.6% Miami 35.4% Key Metro Statistics Portland, OR 35.3% Orlando 34.2% San Francisco 33.4%

Denver 30.9% During the last 5 years, Charlotte has experienced the fastest rate of tech talent growth in the country at CHARLOTTE DEVELOPMENT TIMELINE 48.4%, compared to the national growth rate of 16%. +7.4M SF +3.4M SF GROSS ABSORPTION NET NEW ABSORPTION

#1 #1 #1 #2

MILLENNIAL MOVING TOP TECH STATE WITH FASTEST CITY CREATING DESTINATION CITY MOMENTUM MARKET GROWING ECONOMY THE MOST TECH JOBS (Smart Asset) (CBRE Research) (Bureau of Economic Research) (Forbes) #4 #5 3.3% 142K

HOTTEST HOUSING BEST STATE FOR UNEMPLOYMENT JOBS ADDED SINCE MARKET HIGHER EDUCATION (BLS, April 2019) JANUARY 2014 (Zillow) (BLS, April 2019) 1 2 1 3 AREA OVERVIEW

Kannapolis, North Carolina

The City of Kannapolis is part of the dynamic Charlotte NCRC is in the heart of downtown Kannapolis on the region, one of the top growth areas in the country. redeveloped site of former Cannon Mills – a 6,000,000 NC RESEARCH CAMPUS With a deep history in textile manufacturing, Kannapolis SF facility that was largest textile manufacturing facility is evolving into a research and development hub centered in the world. In addition to the amazing discoveries and around health and wellness. This transformation started with quality jobs the campus brings, it is creating momentum The North Carolina Research Campus in Kannapolis, NC, is Education is a cornerstone of the campus. Rowan- the creation of the $600 million North Carolina Research and business opportunities that come along with such an a 350-acre scientific community that collaboratively works to Cabarrus Community College offers two-year degrees in Campus (NCRC), a 350-acre home to eight university important research institution. empower human health through nutrition. Eight universities, biotechnology, nursing and advanced technology in their programs working on the cutting edge of health sciences. the David H. Murdock Research Institute, companies and training center that is walking distance from all the campus’ entrepreneurs focus research and development on safer, research centers. The Plant Pathways Elucidation Project more nutritious crops, healthier foods and precision nutrition. (P2EP) is a one-of-a-kind, collaborative program that Notable players at NCRC include UNC Chapel Hill, NC State, combines the expertise of leading scientists with the campus’ Duke University, Appalachian State, Atrium Health and Dole university and corporate partners to train undergraduate CABARRUS COUNTY Food Company. and doctoral-level students in fields like plant genetics and bioinformatics. Research combines multiple scientific focuses spanning , , grains, herbs, bioactive compounds, food safety, Beyond a research center, the NC Research Campus is an exercise physiology and the influence of nutrition on economic driver creating over 1,000 jobs and playing a critical 206,872 15.9% $54,720 risk factors for chronic disease and fetal development. role in the development of the city of Kannapolis and the Population Population Growth Since 2010 Median Household Income The NC Research Campus is expanding to include the NC Charlotte-area’s growing life science sector. State University Food Innovation Laboratory (FIL). Through a statewide partnership, the FIL will open in 2019 and provide food companies a cGMP facility to test and produce new, plant- based ingredients, products and packaging.

1 4 1 5 SPORTS/ENTERTAINMENT VENUE

The $52-million Sports and Entertainment Venue will be located at the AREA OVERVIEW corner of West Avenue and Laureate Way and will serve as a major catalyst to draw people downtown. The venue will be the new home of the City’s Minor League Baseball Team– the Kannapolis Cannon Ballers, an affiliate of the White Sox Major League Team. The venue will contain 6,000 Kannapolis Revitalization square feet of banquet and meeting space available for conferences, meetings, and special events. The stadium is designed as a multi-use facility capable of accommodating special events including concerts.

The stadium will have a seating capacity of 4,930 with 3,218 of those being fixed seats. Other seating options will include luxury suites, a party deck, berm seating, premium dugout box seats, picnic terrace, outfield bar, and right field boxes.

The Sports & Entertainment Venue is a major catalyst for Kannapolis’ Downtown Revitalization Project and has already resulted in commitments by private investors for adjacent mixed-use developments totaling more than $60 million.

VIDA

286 Multifamily Units / 125 Room Hotel 400 Space Parking Deck INFRASTRUCTURE & STREETSCAPE

In March 2019 the City of Kannapolis and the Lansing Melbourne Group (LMG) A major component of the Kannapolis Downtown Revitalization is the infrastructure broke ground on a mixed-use district which will bring apartments, a hotel, and streetscape improvements. The unique streetscape serves as an urban park restaurants, a brewery, and retail space to downtown Kannapolis. with many green spaces for activities such as concerts, arts, recreation activities

and classes, shopping and outdoor dining. Traffic flow and parking options work The project, known as VIDA, will be constructed between Main Street and in conjunction with pedestrian activity and pocket parks with water features. The West Avenue on a four-acre site that will incorporate and preserve the historic infrastructure project included replacing aging and undersized utilities including Cabarrus Bank Building as the lobby for a 125-room hotel that will break water, sewer, storm water and electricity. ground in the fourth quarter of 2019. LMG will invest $61 million to construct 286 apartments, 18,000 square feet of new retail and renovate 36,000 square feet of historic retail space, plus the new hotel. The City’s investment will include a 400-space public parking deck. The project will open in Spring 2021.

1 6 1 7 CORPORATE HEADQUARTERS

High-quality talent, low cost of living and easy access to among others - have made Charlotte their global or North markets makes Charlotte the ideal location for headquarters American home. Another 250-plus house their regional operations. With the world’s seventh busiest airport, the headquarters here, including Wells Fargo’s east coast AREA OVERVIEW nation’s second-largest banking center and as the number-one headquarters and largest employment base with more than destination for relocating millennials, Charlotte has become 24,000 employees. A growing professional services and one of the fastest-growing cities in the country. administrative support sector of more than 14,000 companies Charlotte MSA – including law firms, consultants, accountants - offer It’s no wonder that more than 425 companies from diverse headquarters operations all the necessary support services. industries – finance, technology, energy and manufacturing, Kannapolis is part of the Charlotte region, a 16-county area that is home to approximately 2.8 million residents and one of the fastest growing QUALITY OF LIFE

metropolitan areas in the country. Charlotte is the largest city in the Perhaps the most compelling attraction of Charlotte is simply For golf lovers, the PGA’s Wells Fargo Championship is played its remarkable quality of life. Though a leading national in Charlotte each spring at Quail Hollow Club, except in Carolinas and the 17th largest in the . Steady job creation business center, Charlotte has been able to maintain a low 2017 when the course hosted the 99th PGA Championship. has outpaced the rest of the country and its skilled labor force and cost of living, high quality of life, and the charm and hospitality Charlotte is the home of the NASCAR Hall of Fame and for which the Carolinas and the Southeast have come to be Charlotte Motor Speedway which plays host to three major affordability has attracted many high-profile corporate relocations and known. Charlotte is rich with a diverse menu of entertainment NASCAR events each year. World-class cultural amenities opportunities ranging from professional sporting events to the – from NFL and NBA sports to Broadway shows to outdoor expansions. Six Fortune 500 companies are headquartered in the area. arts and outdoor recreational activities. Charlotte is home to amenities – complete an ideal environment to live, work the NFL’s Carolina Panthers and the NBA’s Charlotte Hornets. and play.

2nd

Largest Charlotte is home to World Headquarters for the following 6 Fortune 500 companies: Financial Center in the country with more than 54,000 employed in the industry in Mecklenburg County.

1 8 1 9 NORTH CAROLINA RESEARCH CAMPUS

Affiliated Business Disclosure

CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

Confidentiality Agreement

Your receipt of this Memorandum constitutes your acknowledgment that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

Disclaimer

This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all- inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property¹s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner. PMStudio_January2020

2 0 2 1 NORTH

CAROLINA Kivett Williams +1 704 264 3644 RESEARCH [email protected]

CAMPUS Katherine Southard +1 704 331 1260 800 - 814 N MAIN ST [email protected] KANNAPOLIS, NC