75 Robinson St. Advance Auto Parts Binghamton,

Offering Memorandum INVESTMENT OVERVIEW

Weinman Real Estate is pleased to exclusively present to the market Syracuse, NY Advance Auto Parts store #5658, located in Binghamton, NY; South-Central New York state 73 miles South of Syracuse, NY and 61 miles North of Scranton, PA. The Tenant has 2.5 years remaining on their current option period and has already extended the lease for another 5 Binghamton years after that. Advance Auto (AA) subsequently requested 2 additional extension options of 5 years each, with 10% rent bumps in each option. The lease is backed by a corporate guaranty from Advance Stores Company, Inc, who Scranton, PA did $9.37 Billion in revenue in 2017 and is #292 on the 2017 Fortune 500 list. The property is located at a hard corner between two major roadways: I-81 and Route 11. Population in a three-mile radius is over 60,500 with household • Advance Auto Parts (#5658) – Binghamton, NY (South-Central NY State) 73 miles incomes at $52,000. Robinson St. has S of Syracuse, NY | 61 miles N of Scranton, PA over 11,000 vehicles per day. The • Original 10 Year NN Lease expired in 2010; 5-Year Option Pd.’s 1 & 2 exercised property is visible from Route 363 which simultaneously; Option Pd. 3 was recently exercised for an additional 5 years has over 29,000 vehicles per day. This • Option Pd. 1 ended in 2015; Option Pd. 2 will end in 2020; Option Pd. 3 will begin location has been operating for nearly 20 January 2021 years and has reported growing sales • AA requested Option Pd. 3 & 4, 5-Year Extensions with 10% rent bumps in each figures for the last several years. extension • Corporate guaranteed by Advance Auto Stores, Inc MARKET SUMMARY PROPERTY SUMMARY

• Location has High Store Sales • Located Near Signalized Corner • Investment Grade Tenant • Daytime Population of 80,000 • 11,000 VPD on Robinson St.

Actual Store Photo – Sept. 2017

ADDRESS 75 Robinson St. Binghamton, NY 13901 STORE NUMBER #5658 APPROXIMATE ACREAGE 0.758 ac. BUILDING SIZE 7,000sf Y E A R B U I LT 2000 EXTERIOR Masonry block VEHICLES PER DAY 11,000 VPD on Robinson St. SIGNAGE 1 pylon sign & 1 building sign PARKING 45 Parking Spaces INGRESS/EGRESS Full turn ingress and egress to Robinson St. via shared driveway. FINANCIAL OVERVIEW

PRICE $1,158,000

C A P R AT E 7%

L E A S E T Y P E Double-Net (NN)

G RO S S N O I $81,060

PRICE PER SF $165.43

LANDLORD RESPONSIBILITIES Maintain/repair non-structural exterior areas (parking, sidewalks, etc.). Pays 50% of HVAC repair TENANT RESPONSIBILITIES Maintains HVAC, electrical, plumbing & sewer systems and interior non- structural maintenance. Pays taxes, snow & garbage, insurance and utilities LEASE SUMMARY

LEASE COMMENCEMENT DATE 1/3/2000

INITIAL TERM EXPIRATION 12/31/2010 OPTION PERIOD 1* 1/1/2011 – 12/31/2015 OPTION PERIOD 2** 1/1/2016 – 12/31/2020 OPTION PERIOD 3* 1/1/2021 – 12/31/2025 OPTIONS TO RENEW 2 Five-Year Options Remain with * = Option Exercised Rent Increases in Each Option ** = Current Option Period LEASE GUARANTOR Advance Stores Company, Incorporated

ANNUAL RENT MONTHLY P E R S F

Years 1-10 $73,836 $6,153 $10.55

Option Years 11-15 $82,044 $6,837 $11.72 Option Years 16-20 $81,060 $6,755 $11.58 *Current Option Term* Option Years 21-25 $81,060 $6,755 $11.58 *Exercised as of 1/1/2018* Option Years 26-30 $88,056 $7,338 $12.58

Option Years 31-35 $95,064 $7,922 $13.58 TENANT OVERVIEW

Advance Auto Parts (NYSE: AAP) headquartered in Roanoke, Va. is the largest automotive aftermarket parts provider in North America serving both the professional installer and do-it-yourself (DIY) customers. Advance Auto operates in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. Founded in 1932, they had originally operated as ‘Advance Stores Company’, a retailer of general merchandise. Through the course of the following decades, Advance began to target the sale of automotive parts & accessories to the DIY customers and in 1985, officially changed its name to ‘Advance Auto Parts’. Since then, they have experienced steady growth as a result of new store openings and strategic acquisitions.

5,000+ Stores Rated BBB- by Standard & Poor

Number 292 in Fortune 500 (June 71,000+ Team Members 2017)

Corporate Guaranty by Advance 86 Years in operation Auto Stores, Inc.

$9.37 Billion in Annual Sales in $4.08 Billion in Gross Profit in 2017 2017 DEMOGRAPHICS

1-Mile 3-Mile 5-Mile Population 2017 13,111 60,539 98,026 Households

2017 5,915 26,335 39,403 Household Income

2017 Median $25,212 $35,078 $39,796 HH Income Daytime Population

Total 2017 18,365 75,413 123,245 MARKET OVERVIEW

Binghamton is a city in, and is the county seat of, Broome County, New York. It lies in the South-Central region near the Pennsylvania border. Binghamton is the principal city and cultural center of the Binghamton metropolitan area, home to over a quarter million people, per the 2010 census. The population of the city itself, within a 5 mile radius of this store’s location, is 98,026 From the days of the railroad, and being the confluence point of the Chenango and Susquehanna rivers, Binghamton was a transportation crossroads which stimulated growth in manufacturing. At different times, Binghamton has been known for the production of cigars, shoes, and most notably, innovative technology. IBM was founded nearby, and the flight simulator was invented in the city, claiming Binghamton as the ‘birthplace of virtual reality’. This led to a notable concentration of electronics- and defense-oriented firms. This sustained economic prosperity earned Binghamton the moniker of the ‘Valley of Opportunity’. Today, while there is a continued concentration of high-tech firms, Binghamton is emerging as a healthcare- and education-focused city, with the presence of acting as the driving force behind this revitalization. Several large shopping areas exist within the region. The development of large student housing projects has resulted in a resurgence of restaurants and service-oriented business downtown. Previously, downtown was home to several major manufacturing facilities. However, just as in many cities around the United States, as some manufacturing began to be outsourced, leaving the areas, this allowed the historic existing buildings be redeveloped into multimillion dollar mixed-use revitalization opportunities. Binghamton is a major junction in the Interstate Highway System, much as it was during the days of the railroad. Interstate 81, a major north-south route, connects the city to Syracuse and Ontario, as well as to Pennsylvania and Appalachia. Binghamton also serves as the western terminus of Interstate 88, which gives a direct route to Albany. , the Expressway, is in the process of being upgraded to Interstate 86, and spans the southern border of New York, providing access to New York City, as well as to the western Southern Tier and Erie, Pa. MARKET OVERVIEW

Much of Binghamton's current employment base is still oriented towards technology and defense manufacturing. Areas of specialization include systems integration, flight simulation, and printed circuit board manufacturing. The largest of such companies in the area are Lockheed Martin, BAE Systems, IBM, Sanmina-SCI, and Universal Instruments. Other notable technology firms include Endicott Interconnect, Rockwell Collins, Emerson Network Power, and L-3 Communications, which absorbed the Link Aviation operations. 13% of New York State's computer and electronics manufacturing jobs are in the Binghamton MSA. Education and health care are also becoming significant sectors in the regional economy. In particular, Binghamton University and Broome Community College employ a large number of researchers and educators. Binghamton University contains a New York State Center of Excellence for small-scale systems integration, and has also provided the major impetus behind the $22 million Southern Tier High Technology Incubator, which is being built in downtown Binghamton to encourage local growth of startups. Major companies in the private healthcare industry include United Health Services and Lourdes Hospital.

There is also a large presence of food services and distribution Business Name Number of Employees companies in Binghamton. Both Maines Paper & Food Service and Binghamton University 5,493 Willow Run Foods are United Health Services 5,428 headquartered in the region, and are two of the largest food distributors Broome County Government 2,500 in the country, servicing a large region of restaurants and chains Lourdes Hospital 2,311 throughout the United States. Crowley Foods, a subsidiary of HP Maines Paper & Food Service 1,100 Hood, maintains headquarters in Binghamton, and Frito-Lay has a Endicott Interconnect 1,100 large plant in the region. IBM 1,000 75 Robinson St. Advance Auto Parts Binghamton, New York

Contact: Ashley Weinman Broker of Record: License: RS332361 Timothy H. Weinman 724-396-5757 NY: 10351213872 [email protected]