Cornerstone Square COASTAL CAROLINA INVESTMENT OPPORTUNITY

EXECUTIVE SUMMARY Cornerstone Square

INVESTMENT ADVISORS

Blake R. Thomas Vice President | Capital Markets 919 420 1568 [email protected]

C. Grant Linderman II Vice President | Capital Markets 919 719 8194 [email protected]

DISCLOSURE

The information contained herein was obtained from sources believed reliable; however, Avison Young makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, changes of price or conditions prior to sale or lease, or withdrawal without notice. Investment Highlights CORNERSTONE SQUARE | SWANSBORO, NC

The property is currently 100% leased and has FULLY OCCUPIED a strong track record of historical occupancy

Stable revenue in-place with minimal landlord FAVORABLE LEASE STRUCTURES responsibilities, generally limited to roof, structure and common areas

Current tenants include food and beverage DIVERSE TENANT MIX operators, tourism-based goods and services and other commercial businesses

Inventory of commercial space in Swansboro is LIMITED COMPETITIVE SET 1.2m sf, with no new projects planned or under development and a current vacancy rate of 1.6%

3 Property Summary CORNERSTONE SQUARE | SWANSBORO, NC

CORNERSTONE SQUARE

NORTH CAROLINA

Raleigh

Charlotte

Wilmington 686 W Corbett Avenue Land Area: 1.75 ac Swansboro, NC 28584 Building Size: 15,900 sf Year Built: 2000

 SWANSBORO EMERALD ISLE

SURF CITY

4 Property Map CORNERSTONE SQUARE | SWANSBORO, NC

W Corbett Ave

±29,000 Vehicles Per Day

Old Hammock Rd 24

Old Hammock Rd

Hammock Rd

24 SWANSBORO

5 Area Overview ’S CRYSTAL COAST

North Carolina’s Crystal Coast is home to expenditures in 2017, a 3.05% increase an 85-mile stretch of beautiful coastline from 2016, while Onslow County saw just south of North Carolina’s famous approximately $231 million, an increase of . Featuring 56 miles of 3.78%, and Pender County saw $97 million, protected beaches, the Crystal Coast is a an increase of 5.14%. key element of the state’s rich maritime culture. Warm weather begins early in the The Crystal Coast has more than 100 spring and typically continues through restaurants, numerous hotels and November, attracting visitors from near countless beach cottages, which are and far to enjoy the coast’s beaches and especially popular in Emerald Isle and outdoor activities practically year-round. often rented out for a week at a time This popular seaside getaway receives during the summer. both tourists and second-home owners from the entire Southeast region and Diving and fishing are two activities that is especially popular with residents of attract visitors to the Crystal Coast. It is Charlotte, Raleigh and Wilmington due to one of the two spots in North America its proximity and ease of access. where the warm waters of the Gulf Stream approach the coastline, creating The state of North Carolina boasts a rich a “wreck diver’s dream” with near-perfect tourism industry, seeing a record $25.3 conditions, according to Scuba Diving billion in domestic traveler expenditures magazine. The North Carolina coast is in 2018, up 5.6% since 2017. The state’s known as the “Graveyard of the Atlantic,” coast draws a significant portion of these with more than 2,000 vessels recorded as tourism dollars; peak-season population sinking here. growth yields substantially increased revenue to the towns that make up the The proximity of the Gulf Stream also Crystal Coast and surrounding coastal makes the Crystal Coast a popular fishing communities. destination. The warm waters provide this area with the longest fishing season In the summer, Emerald Isle’s permanent on the Atlantic coast. One of the largest population increases by over 990% to fishing tournaments in the world, the Big approximately 40,000. Carteret County Rock Blue Marlin Tournament, is run from saw approximately $362 million in tourist Morehead City.

6 Source: Visit North Carolina Emerald Isle, NC Area Overview NORTH CAROLINA’S CRYSTAL COAST

Croatan National Forest

Western Crystal Coast Beaufort Down East Morehead City

Pine Knoll Shores Salter Path

Atlantic Beach Harkers Island Indian Beach Emerald Isle Cape Lookout

7 Blake R. Thomas C. Grant Linderman II Vice President | Capital Markets Vice President | Capital Markets 919 420 1568 919 719 8194 [email protected] [email protected]