TABLE OF CONTENTS

ACADIANA MALL SEARS LAFAYETTE, LOUISIANA 1 BERKELEYCAP.COM | 704.379.1980 CONFIDENTIALITY STATEMENT

All contents in this proposal are strictly confidential and are shared with the understanding that they will be held in confidence and not disclosed to third parties without the prior consent of Berkeley Capital Advisors.

TRANSACTION TEAM

PRIMARY CONTACTS Marc Ozburn Associate 704-401-0514 [email protected]

Laura Hensler Analyst 704-943-3162 03 OFFERING OVERVIEW [email protected]

SECONDARY CONTACTS 11 MARKET OVERVIEW Rob Carter Rad von Werssowetz Partner Partner 704-379-1982 704-714-2367 [email protected] [email protected] 15 PROPERTY OVERVIEW David Webb Alex Quarrier Partner Partner 704-379-1967 704-714-2365 [email protected] [email protected] 19 ECONOMIC OVERVIEW TABLE OF CONTENTS

ADDRESS 5715 Johnston St Lafayette, LA 70503

MARKET TOTAL GLA LAFAYETTE, LA 194,933 SF

YEAR BUILT OCCUPANCY

1979 0%

TOTAL LAND SIZE

16.431 ACRES

3 BERKELEYCAP.COMberkeleycap.com | 704.379.1980 TABLE OF CONTENTS THE VACANT SEARS AT MALL OF ACADIANA OFFERS INVESTORS A WELL-POSITIONED ASSET IN A DENSELY POPULATED AREA WITH SIGNIFICANT UPSIDE POTENTIAL.

The Sears at Mall of Acadiana is a vacant Sears and Sears Auto Center located near the intersection of Johnston Street (33,555 VPD) and Ambassador Caffery Pkwy (44,421 VPD) in Lafayette, LA. There are nearly 6,000 people with an average household income of $119,716 within the surrounding 1-mile radius. The 16.431 acre property allows for a variety of redevelopment opportunities. In addition to the strong tenant mix of the Mall of Acadiana (Dillard’s, Macy’s, and JC Penny), this site is surrounded by other national retailers such as Hobby Lobby, TJ Maxx, Michaels, and Dollar Tree. The retail density draws from a wide trade area in Lafayette Parish as well as in surrounding parishes, PROPERTY DETAILS such as the Vermillion, Acadiana, Saint Landry, and Iberia 5715 Johnston St Parishes. Address Lafayette, LA 70503 PINs 6063821

County Lafayette Parish

Total GLA 194,933 SF

Anchor Tenants Vacant Sears

Percent Leased 0%

Total Land Size 16.431 AC

Year Built 1979

Debt Free & Clear

Parking Spaces 952

4 BERKELEYCAP.COM | 704.379.1980 TABLELOCATION OF CONTENTS MAP

x 133K Within a 5-Mile Radius of Mall of Acadiana, the population is approximately 132,709 people.

$120K The 2018 Estimated Average Household Income within a 1-mile radius of Mall of Acadiana is $119,716.

35 Less than 35 minutes from downtown Lafayette, LA

5 BERKELEYCAP.COM | 704.379.1980 NE Lafayette General Lafayette Regional Downtown Lafayette Medical Center Airport 6.3 miles away 477 beds 129 flights per day

CAJUNDOME

University of Louisiana Lafayette

AMBASSADOR CAFFERY PKWY - 44,421 VPD

JOHNSTON ST - 33,555 VPD

vacant Our Lady of Lourdes 410 beds SE

INTERNAL HOME VALUES REVENUE $450K-$1.1M SERVICE

PEPPERTREE ANSLEY WALK APARTMENTS APARTMENTS $1,000-$1,352 $835-$1,400

vacant N

Lafayette General Southwest 131 beds

AMBASSADOR CAFFERY PKWY - 44,421 VPD

JOHNSTON ST - 33,555 VPD

vacant Downtown Lafayette 6.3 miles away

University of Louisiana Lafayette

AMBASSADOR CAFFERY PKWY - 44,421 VPD Lafayette Regional Lafayette General Airport Medical Center 129 flights per day 477 beds

HOME VALUES $150K-$245K

HOME VALUES $450K-$1.1M

Our Lady of Lourdes 410 beds

JOHNSTON ST - 33,555 VPD TABLEASSET OFSTRENGTHS CONTENTS

WELL-POSITIONED ASSET WITH VALUE-ADD OPPORTUNITY

Frontage: The center is 339.5.2’ by 418.1’, creating an ample amount of frontage for retail redevelopment. This will give investors flexibility when backfilling the center, allowing them to subdivide the space in a way that is suitable for prospective retailers.

Repositioning Opportunity: Investors have the opportunity to generate upside through the repositioning of the dark, 194,933 SF Sears box.

Main Retail Node: This center is in the main retail corridor of Lafayette and is surrounded by national retailer such as Hobby Lobby, T.J. Maxx, Michaels, and Dollar Tree.

Attractive Co-Tenants: Acadiana Mall has a very strong tenant mix with Dillard’s, JC Penny, and Macy’s. Quick Facts

Highly Trafficked Corridor: The center is positioned at the corner of Johnston Street (33,555 VPD) and Ambassador Caffery Pkwy (44,421 VPD).

Large Acreage: There are 16.431 acres that could be redeveloped for a Located on Average 1-mile variety of uses that would appeal to a large buyer pool. Johnston St HH income is (33,555 VPD) $119K Densification Opportunity: In addition to the immediate backfill scenario with the Sears box, there is an opportunity to carve out and develop several different outparcels to dramatically grow value. Given the location and strong fundamentals of the real estate, there are a variety of uses that could be pursued in the repositioning of the asset.

Strong Surrounding Demographics: The 5-mile radius has over 132,709 people with an average household income of $92,546. The population within a 1-mile radius grew 15.05% over the last five years and is expected 194,933 SF vacant 16.431 acres could to grow by 11.35% in the next five years. Sears generates be redeveloped for a

upside for new BERKELEYCAP.COMberkeleycap.comvariety |of 704.379.1980 uses 10 investor MARKET OVERVIEW

11 BERKELEYCAP.COM | 704.379.1980 TABLECOMPETITIVE OF CONTENTS RETAIL MAP

12

8 7 6 5 4 3 2

10 9 11

CENTER SF OCC. BUILT ANCHORS RENTS CENTER SF OCC. BUILT ANCHORS RENTS 1 Acadiana Mall 994,162 n/a 1994 Vacant Sears, Macy’s, Dillards - 7 Sam's Club 114,521 100% 2008 Sam's Club $12 - 14

2 Lowe's 99,440 100% 2013 Lowe's $12 - 14 8 Walmart Supercenter 193,486 100% 2003 Walmart Supercenter $16 - 20

3 Home Depot 99,629 100% 2007 Home Depot $11 - 14 9 Crossroads South 155,000 100% N/A Kohl's $15 - 25 Big Lots, Target, Ross Dress For Less, 4 Ambassador Row 194,678 91% 1980 $11 10 River Marketplace 343,814 93% 2003 $24 - 29 Jo-Ann Fabric and Craft Stage Stores T.J. Maxx, Office Depot, 5 Acadiana Square 103,776 90% 1991 $12 - 15 11 Ambassador Town Center 153,973 100% 2016 Costco $12 -14 Stein Mart Burlington, Walmart Supercenter, 6 Ambassador Way Outparcels 197,803 87% N/A $8 - 22 12 Walmart Plaza 114,000 100% 2000 $12 - 15 Conn's Home Plus Jackson Hewitt

12 BERKELEYCAP.COM | 704.379.1980 LAFAYETTE PARISHES

AVG HH AVG SPENT ON PARISH POPULATION INCOME HEALTHCARE

1 Evangeline 35,091 $50,304 $4,193.45

2 St. Landry 86,160 $50,829 $4,052.72

3 Acadia 64,615 $54,680 $4,433.88 1

4 Lafayette 252,406 $77,401 $5,356.16 2 5 St. Martin 55,908 $62,098 $4,883.35

6 Iberia 74,267 $64,820 $4,990.52

7 St. Mary 57,163 $55,233 $4,418.48

8 Vermillion 61,522 $63,149 $4,972.77 3 5 Lafayette is the dominant market in the Acadiana region and services the 4 other parishes from a retail, education and medical perspective.

6 8 5

7

13 BERKELEYCAP.COM | 704.379.1980 MARKETTABLE OF OVERVIEW CONTENTS - LAFAYETTE, LA

• Lafayette is a short hour drive to the capital of Louisiana, Baton Rouge Economy Affectionately known as the “Hub City”, Lafayette offers the essential • Lafayette’s economy specializes in mining, quarrying, oil, gas extraction, elements needed to ensure the growth and development of its business accommodation & food service, and professional scientific tech services community • Top employers include: • Considered the only major city in Louisiana to have grown its population since • Lafayette Parish School System the year 2000. • Lafayette Consolidated Gov. • 4th largest city in the state of Louisiana with a total population of 125,808 • University of Louisiana-Lafayette • The median age is 34 • Lafayette General Medical Center • Home to the national guard headquarters of the 256th infantry brigade with a • Wal-mart Stores Inc military unit of more than 3,000 soldiers • Wood Group Production Services • Baker Hughes Education • WHC, IncIsland Operating Company • University of Louisiana at Lafayette – 17,519 total enrollment • Schlumberger • The largest campus within the 8 campus University of Louisiana System • The second largest university in Louisiana Medical • It is recognized mostly for its excellence in computer science and its • Lafayette General Medical Center is a 477 bed facility, including 24 beds at graduate courses in environmental biology the Behavioral Health Unit • Home to South Louisiana Community College (4,593 students) and Louisiana • Our Lady of Lourdes Hospital is a newly constructed 186-bed hospital Technical College at Lafayette (567 students) • Acadia General Hospital contains 179 total staffed beds and is located just • The public school system is run by Lafayette Parish School System and outside of Lafayette contains 33 schools, 21 elementary schools, 12 middle schools, and 7 high schools Tourism • Lafayette has more restaurants per capita than any city in the entire region Infrastructure • Known for its thriving arts community, Lafayette has a culture supportive of • Lafayette Regional Airport (LFT) – 129 flights per day theatre, visual arts, and music • Interstate Highway: 1-10 and 1-49 are the main intersections • Lafayette is known as “The Sportsman’s Paradise”. The bayous and swamps • The Amtrak Sunset Limited offers passenger rail service three days a week are great places for canoe rides and the fishing from New Orleans, LA to Los Angeles CA • It is home to the semi-pro football team that plays at STM Stadium 14 BERKELEYCAP.COM | 704.379.1980 TABLEDEMOGRAPHICS OF CONTENTS

POPULATION 1 Mile 3 Mile 5 Mile 2023 Population 6,644 70,628 141,952 2018 Population 5,938 65,840 132,709 2010 Population 4,650 58,137 118,610 2000 Population 4,052 49,697 101,845 2018-2023 Annual Rate 2.27% 1.41% 1.36% 2010-2018 Annual Rate 3.01% 1.52% 1.37% 2000-2010 Annual Rate 1.39% 1.58% 1.54% 132,709 HOUSEHOLDS 5-mile radius 2023 Total Households 2,859 29,291 58,063 population 2018 Total Households 2,546 27,319 54,265 2010 Households 1,968 24,175 48,555 2000 Households 1,587 19,662 40,467 2018-2023 Annual Rate 2.35% 1.40% 1.36% 2010-2018 Annual Rate 3.17% 1.49% 1.36% 2000-2010 Annual Rate 2.18% 2.09% 1.84% 2018 EST. AVG. HOUSEHOLD INCOME $119,716 $90,993 $85,300 $120K 1-mile radius avg. household income

1515 2.27% 1 mile 1-mile radius annual projected growth from 2018-2023 3 mile

5 mile BERKELEYCAP.COM | 704.379.1980 PROPERTY OVERVIEW

16 BERKELEYCAP.COM | 704.379.1980 SITE PLAN

S41°26'06"W 463.00' S41°15'45"W POINT OF COMMENCEMENT 561.21' ’ S41°26'31"W 380.24' ’ BEARING BASIS POINT OF BEGINNING OH

60.03' OH N41°26'31"E54.02' SOUTHEASTERLY RIGHT-OF-WAY Curve Table 60.03' LOT 2 5709 JOHNSTON STREET Chord Chord LAFAYETTE PROPERTIES LLC Curve # Length Radius Delta 54.03' Bearing Distance JOHNSTON STREET N41°26'31"E PARCEL 6022935 ( U.S. HIGHWAY 167) C1 28.69' 22.00' 74°43'10" S84°08'50"E 26.70' LESS AND EXCEPT PARCEL NO. 19-7 10 C2 183.01' 353.00' 29°42'18" N73°21'12"E 180.97' C3 34.56' 22.00' 89°59'24" N43°12'21"E 31.11' MARSHALL RANDALL FRANCIS TRACT C4 20.00' 22.00' 52°19'26" N69°22'14"E 19.40' GRASS MARSHALL LISA CAMPO BARNES & NOBLE N46°47'39"W 450.02' PARCEL 1 5705 JOHNSTON STREET 5637 JOHNSTON STREET C5 154.63' 350.00' 25°18'44" S24°26'59"E 153.37' PARCEL 0 N88°12'21"E 136.00' C6 113.78' 353.24' 18°27'19" N25°01'16"E 113.29'

N01°47'39"W 101.99' C7 171.87' 359.24' 27°24'45" N29°29'59"E 170.24' C8 34.56' 22.00' 89°59'24" N01°47'39"W 31.11'

OVERHANG TRACT A ASPHALT 5711 JOHNSTON STREET E NEW IBERIA BANK S46°47'39"E 464.97' PARCEL 6040020 SEARS DRIVE

N88°12'21"E 11.26' GRASS GRASS C3 T 13 C2

ACADIANA MALL CIRCLE E TRACT B E C1 5711 JOHNSTON STREET MONTESANO JOSEPH JOHN

MONTESANOPARCEL DOROTHO #6095875, MAY DOC BROUSSARD #900032322 LOT 1 103 ACADIANA MALL CIRCLE MARGARET CAMPBELL TRUST C8 PARCEL #6114972 ACADIANA5725 JOHNSTONLAND ASSOCIATES STREET P ALA PARCEL #6149805 ASPHALT

N43°12'21"E 80.92' S46°47'39"E 918.88'

E 13

342.6' 14 GRASS GRASS

C7 191.0'

GRASS GRASS

ASPHALT GRASS GRASS

ALA 5 GRASS 5725 JOHNSTON STREET ACADIANA LAND ASSOCIATES X PARCEL #6126042 ASPHALT X X DOC. #840043351

GRASS OVERHANG OVERHANG

CAVENDER REAL ESTATE LTD GRASS 130 TUCKER DRIVE ASPHALT GRASS LOT 1 C6 GRASS PARCEL #6149806 DOC. #201300005819 LEGEND OF SYMBOLS & ABBREVIATIONS GRASS GRASS GRASS ASPHALT ACADIANA MALL CIRCLE GRASS

POWER POLE TRAFFIC SIGNAL BOX BUILDING ASPHALT WALL

LIGHT POLE V VAULT CONCRETE ASPHALT

GUY WIRE SIGN (AS NOTED) STRIPING

ELECTRIC MANHOLE HANDICAP SIGN ASPHALT RAMP ASPHALT ELECTRIC METER ONSITE SIGN BH BUILDING HEIGHT CANTILEVERED E ELECTRIC VAULT LOCATION C4 TRAFFIC POLE SECTION 68, TOWNSHIP 10 SOUTH, RANGE 4 EAST,

ASPHALT SOUTHWESTERN LAND DISTRICT, WARD 5 T TRANSFORMER WATER VALVE FH FACADE HEIGHT WALL LOCATION SEARS ROEBUCK & CO T TUCKER DRIVE

AIR CONDITIONER UNIT FIRE HYDRANT OVERHANG

FILE #78-000934 & #78-024487 X T (R) RECORD PARCEL #6063821 GRASS T TELEPHONE MANHOLE WATER METER

(M) MEASURED N46°47'39"W 443.30' OVERHANG ASPHALT TELEPHONE PEDESTAL POINT OF ACCESS SEARS DEPARTMENT STORE FOUND 1/2" IRON ROD 5715 JOHNSTON STREET CABLE BOX SANITARY MANHOLE (UNLESS OTHERWISE 1 STORY BLOCK BUILDING S43°12'21"W 83.40' NOTED) 132,552± SQ.FT. STORM DRAIN MANHOLE CLEAN OUT BUILDING HEIGHT = 35.5'± SET 1/2" IRON ROD FACADE = 44.7'± STORM DRAIN INLET GAS MARKER

CURB INLET GAS VALVE

C5 ROUND DRAIN INLET GAS METER ASPHALT

GRASS OH OVERHEAD UTILITIES HANDICAPPED PARKING

X X WOOD FENCE MAILBOX

O O CHAINLINK FENCE ASPHALT

BUILDING WALL FALLS DIRECTLY ON PROPERTY LINE Phone: (800) SURVEYS (787-8397), Fax: (330) 666-3608 www.bockandclark.com S88°12'21"W 969.73' Bock & Clark's National Surveyors Network National Coordinators of ALTA/ACSM Land Title Surveys 3550 West Market Street, Suite 200 Akron, Ohio 44333

TRACT 5725 JOHNSTON STREET cial Rea r l E ACADIANA MALL CMBS LLC e s m t m a 1" = ' PARCEL #6129118 t 60 o e GRAPHIC SCALE ALTA/ACSM LAND TITLE SURVEY C 0 30' 60' 120'

SEARS HOLDING PORTFOLIO PROJECT D e ue nc SEARS DEPARTMENT STORE Dilige DATE OF FIELD SURVEY: DECEMBER 5, 2014 NETWORK PROJECT NO. 201403456-114 SHEET 2 OF 2

17 BERKELEYCAP.COM | 704.379.1980 TABLEPROPERTY OF CONTENTS DETAILS

Building Square Footage: 194,933 SF Box Frontage: 339.5 Feet Box Depth: 418.1 Feet Building Height: 35.5 Feet Roof: 20+ years old Building Material: PVC membrane supported by a steel-framed metal decking Zoning: CH Commercial Heavy REA: Click here for more information

361.8ft

418.1ft

339.6ft

Parking Lot Parking Lot: good to fair condition Parking Spaces: 952 spaces

18 BERKELEYCAP.COM | 704.379.1980 TABLEDETAILED OF CONTENTSSEARS BOX DIMENSIONS

For a more detailed survey click here.

336.5ft

418.1ft

361.8ft

157.9ft

50.9ft 78.7ft

80.5ft

19 BERKELEYCAP.COM | 704.379.1980 CONFIDENTIALITY DISCLAIMER

Berkeley Capital Advisors, LLC (“BCA”) has been authorized by the owner of the subject property (the “Seller”) AGENT’S DUTIES to present you with this marketing package. This is a confidential package intended solely for your own limited When you contract with a real estate firm to act as your agent in a real estate transaction, the agent must help use and benefit, as a principal, in considering whether you desire to pursue negotiations to acquire the subject you obtain the best price and terms possible, whether you are the buyer or seller. The agent also owes you the property. duty to: • Safeguard and account for any money handled for you Your receipt and acceptance of this package serves to acknowledge your agreement to: (1) hold the information • Act with reasonable skill, care and diligence and materials contained herein,and the offering they represent, in the strictest of confidence; (2) not disclose, • Be loyal and follow reasonable and lawful instructions directly or indirectly, the information and materials contained herein,or the offering they represent, to any other • Disclose to you any information which might influence your decision to buy or sell person, firm or entity without prior written authorization from BCA or the Seller; (3) not use the information and materials contained herein in any fashion or manner detrimental to the interest of BCA or the Seller; (4) not dis- Even if the agent does not represent you, the agent must still be fair and honest and disclose to you all “material turb any tenants in possession of the subject property nor reveal to them the offering this package represents. facts” which the agent knows or reasonably should know. A fact is “material” if it relates to defects or other con- ditions affecting the property, or if it may influence your decision to buy or sell. This does not require a seller’s This marketing package was prepared by BCA and it has been reviewed by representatives of the Seller. The agent to disclose to the buyer the minimum amount the seller will accept, nor does it require information and materials contained herein are selective and limited in nature, and neither BCA nor the Seller purports this to be an all-inclusive report on the subject property. Within this package, certain leases, documents AGENTS WORKING WITH SELLERS and other materials are described in summary form. These summaries do not purport to be complete nor neces- A seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to repre- sarily accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of sent the seller in finding a buyer for his property. The listing agreement should state what the seller will pay the the provisions of those documents. Interested and qualified prospective purchasers will be afforded an oppor- firm no matter who finds the buyer. tunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own independent due diligence. The listing firm may belong to a listing service to expose the seller’s property to other agents who are members of the service. Some of those agents may be working with buyers as buyers’ agents; others will be working with This package is based in part upon information supplied by the Seller and in part upon information obtained by buyers but still representing the sellers’ interests as an agent or “subagent”. When the buyer’s agents and seller’s BCA from sources believed to be reliable. All income, expense and/or investment projections contained herein subagents desire to share in the commission the seller pays to the listing firm, the listing agent may share the are provided for general reference purposes only, in that they are based on assumptions relating to the general commission with the seller’s permission. economy, competition and other factors beyond the control of BCA and the Seller, and all such projections are therefore subject to variation. This package shall not be deemed an indication of the state of affairs of the sub- AGENTS WORKING WITH BUYERS ject property, nor constitute an indication that there has been no change in the business or affairs of the subject A buyer may contract with an agent or firm to represent him (as a buyer’s agent), or may work with an agent or property since the date of preparation of this package. firm that represents the seller (as a seller’s agent or subagent). All parties in the transaction should find out at the beginning who the agent working with the buyer represents. Neither BCA, the Seller, nor any of their respective officers, employees or agents, has made or does make any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of If a buyer wants a buyer’s agent to represent him in purchasing a property, the buyer should enter into a “buyer its contents, and no legal commitments or obligations shall arise by reason of this package or its contents. agency agreement” with the agent. The buyer agency agreement should state how the buyer’s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the buyer’s agent will be paid BCA and the Seller expressly reserve the right, at their sole discretion, to alter or amend the terms of this by the buyer. Many buyer agency agreements will also obligate the buyer to pay the buyer’s agent no matter offering, to reject any or all expressions of interest or offers to acquire the subject property and/or to terminate who finds the property that the buyer purchases. discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligation to any entity reviewing this package or making an offer to acquire the subject property unless and A buyer may decide to work with a firm that is acting as agent for the seller (a seller’s agent or subagent). If until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and a buyer does not enter into a buyer agency agreement with the firm that shows him properties, that firm and any conditions to the Seller’s obligations thereunder have been satisfied or waived. its agents will show the buyer properties as an agent or subagent working on the seller’s behalf. Such a firm represents the seller (not the buyer) and must disclose that fact to the buyer. Parties seeking to act in a third-party brokerage capacity must register their client(s) with BCA prior to receiving or dispersing any marketing information. BCA will not recognize any third-party brokerage relationships without The terms and conditions stated in this Confidentiality & Disclaimer section apply and relate to all of the sections first receiving and approving such written client registration, nor will BCA or the Seller be obligated for any of this package as if stated independently therein. brokerage claims which may result, regardless of such broker’s involvement in procuring a purchaser for the Prospective purchasers of the subject property are hereby notified that Berkeley Capital Advisors, and its subject property. agents, are acting in the capacity of a “Seller’s Agent” during the course of this offering, and as such are solely representing the interests of the Seller. This package is the property of BCA. Photocopying, re-typing or other duplication of the information and mate- rials contained herein is expressly prohibited. The information contained within this package and the offering of the subject property may not be announced, posted or otherwise publicized in any electronic media (such as, by way of example only, any Internet or “broadcast facsimile” com- munications).

If, after reviewing this package, you have no further interest in acquiring the subject property at this time, please return this package in its entirety to BCA. Likewise, if the terms contained in this Confidentiality & Disclaimer section are not acceptable to you, please immediately return this package to BCA. BERKELEYCAP.COM CHARLOTTE ASHEVILLE NASHVILLE 1228 East Morehead Street, Suite 200 138 Charlotte Street, Suite 220 1510 16th Avenue, Suite 300 Charlotte, North Carolina 28204 Asheville, North Carolina 28801 Nashville, Tennessee 32712 704.379.1980 704.714.2365 615.970.6596