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Gateway to First Ward Park Market 42 | Hff 1 ± 3.66-Acre Light Rail and Park-Adjacent Full City Block Development Opportunity in Charlotte’S Booming Cbd

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Gateway to First Ward Park Market 42 | Hff 1 ± 3.66-Acre Light Rail and Park-Adjacent Full City Block Development Opportunity in Charlotte’S Booming Cbd GATEWAY TO FIRST WARD PARK MARKET 42 | HFF 1 ± 3.66-ACRE LIGHT RAIL AND PARK-ADJACENT FULL CITY BLOCK DEVELOPMENT OPPORTUNITY IN CHARLOTTE’S BOOMING CBD MARKET 42 // GATEWAY TO FIRST WARD PARK HFF is pleased to offer for sale Market 42, a ±3.66-acre full city block development opportunity with invaluable adjacency to the newly opened First Ward Park and walking access to the Seventh Street Station light-rail stop and future Ninth Street Station (delivers mid-2017). Surrounded by these two transformative public-private investments, Market 42 is well- positioned for transformative development in a submarket with dwindling available land. Market 42 is ideally situated in Charlotte’s quickly developing Central Business District – the largest employment center between Washington, D.C. and Atlanta with 100,000+ daily employees – that has recently experienced stellar across-the-board fundamentals, unprecedented market tightening, and double-digit annual residential growth. MARKET 42 | HFF 2 property summary THE INVESTMENT OPPRTUNITY ± 3.66-ACRE FULL CITY BLOCK DEVELOPMENT ADDRESS 500-514 North College Street & 212-229 East 9th Street ACREAGE (GIS ESTIMATE) ±3.66 acres FULL CITY BLOCK Bound by East 8th Street, East 9th Street, North College Street, and the proposed light-rail adjacent private Market Street PARCEL IDS 08004201, 08004202, 08004203, 08004204, 08004205, 08004206, FIRST WARD PARK 08004207, 08004299 CURRENT USE HILTON CANOPY & HOMEWOOD Two single-story brick office buildings and surface parking SUITES (LOI SIGNED) OWNERSHIP Ninth Street Investors LLC FRONTAGES (APPROX.) North College Street: 387' FUTURE LIGHT RAIL PATH East 8th Street: 390' 10TH STREET APARTMENTS East 9th Street: 390' Market Street/Light Rail: 389' ZONING UMUD-O 277 MUNICIPALITY City of Charlotte TIMING Available Immediately PRICING Unpriced MARKET 42 | HFF 3 FIRST WARD PARK investment highlights A TRANSFORMATIVE DEVELOPMENT PREMIER FULL CITY BLOCK OFFERING IN CHARLOTTE’S THRIVING CENTRAL BUSINESS DISTRICT UNIQUE OPPORTUNITY AT THE CONVERGENCE OF TWO CATALYTIC INVESTMENTS Market 42 offers an exceptional development opportunity in conjunction with the newly opened First Ward Park – North Tryon’s new focal point – and invaluable access to the existing Seventh Street Station and to Ninth Street Station, Uptown’s northernmost light rail station (opening 2017). INCREDIBLE NORTH TRYON TRANSFORMATION UNDERWAY The North Tryon Vision Plan is quickly coming to fruition amidst accelerated momentum from major institutional investments: Google Fiber’s future community engagement and innovation hub, dual SkyHouse towers (and a rumored grocery play), a speculative office project, and plans for a dual-branded Hilton hotel complex. LANDMARK “PLACE-MAKING” OPPORTUNITY Envisioned as a major North Tryon destination, Market 42 can capitalize off its critical light rail and park-adjacent locale alongside the planned Market Street – a pedestrian-friendly “high street” retail and event corridor – that will substantially broaden North Tryon’s trade area. Additionally, the Property has excellent walkability to Uptown’s 100,000+ job employment base and all of Uptown’s sought-after sport stadiums, restaurants, and cultural events. MARKET 42 | HFF 4 GOOGLE FIBER PLANTS FLAG IN FIRST WARD PARK Kick-started by Charlotte’s pending Google Fiber connectivity, the historic Philip Carey Building (across the light rail from Market 42) is the home of Google Fiber. A community-oriented meeting and learning space connected with gigabit internet connectivity. A Google-inspired entrepreneurship and startup enclave is expected to blossom within First Ward, similar to the “Startup Village” that sprung up around Kansas City’s initial Google Fiberspace prototype. The Kansas City Startup Village...which took root in late 2012 with three or four startups setting up offices in the area and grew organically… is perhaps the most well-known development spurred by Google Fiber. A group of entrepreneurs moved to the first neighborhood to gain fiber access, and the area has developed into a startup community. GATEWAY TO NORTH TRYON’S ESTABLISHED CULTURAL VENUES JAMIE MCGEE, THE TENNESSEAN Known for numerous cultural institutions, North Tryon has a long-standing arts culture that is intertwined with the area’s identity and public-private investment. Market 42 benefits from desirable proximity to many of the region’s major cultural institutions including ImaginOn, Spirit Square, Blumenthal Theatre, McColl Center, Levine Museum of the New South, and Discovery Place. MARKET 42 | HFF 5 UPTOWN CHARLOTTE CHARLOTTE DOUGLAS 100,000+ DAILY EMPLOYEES INTERNATIONAL AIRPORT HQ HQ EAST COAST OPERATIONS HUB TIME WARNER CABLE ARENA SKYHOUSE I (OPENED AUGUST 2015) & SKYHOUSE II (UNDERWAY) GOOGLE FIBERSPACE FIRST WARD PARK HILTON CANOPY & HOMEWOOD SUITES (LOI SIGNED) UNC-CHARLOTTE CENTER CITY CAMPUS We are getting a better appreciation for…how many American cities are doing great things— secondary cities showing hip, amenitized, urban, walkable, transit-oriented development. 10TH STREET 277 [Places like Charlotte] continue to be more attractive on a relative opportunity basis than APARTMENTS some of the gateway cities. [They are cities that] continue to attract lots of people. There are 264 units a lot of places that people love to live and work… and have a better value proposition. ULI 2016 EMERGING TRENDS IN REAL ESTATE MARKET 42 | HFF 6 NEW THIRD WARD NEIGHBORHOOD, SPURRED BY ROMARE BEARDEN PARK AND BB&T BALLPARK location highlights LOCATED IN A THRIVING METRO IDEALLY SITUATED IN CHARLOTTE’S BOOMING CENTRAL BUSINESS DISTRICT UNDISPUTED REGIONAL ECONOMIC CENTER Uptown Charlotte is an economic powerhouse with two Fortune 500 headquarters (Bank of America and Duke Energy), numerous operational hubs (Wells Fargo, CB&I, and Ally Bank), and a high-quality employment base of 100,000+ workers (average salary $101,000+). PRECEDENT OF ACCRETIVE PUBLIC-PRIVATE INVESTMENTS Development-friendly local stakeholders regularly fund critical lifestyle amenities, such as First Ward Park, to unlock Uptown’s development potential. The spectacularly successful BB&T Ballpark and Romare FIRST WARD PARK, UPTOWN CHARLOTTE Bearden Park, both opened in the past two years, are already encircled by $700+ million in private development. BURGEONING RESIDENTIAL HOTSPOT Uptown is taking off due to significant Millennial appeal and a cultural shift towards urban living that has transformed the area into the go-to young professional destination. The area has welcomed an estimated 1,800 new residents in 2015 (13% YOY growth) as residential options – including 1,375 units delivered since 2014 – have flourished to meet demand. RECORD TOP-END RENTS ACROSS ALL ASSET CLASSES Guided by outstanding demand and shrinking vacancy, the current wave of new office and multifamily development is pushing achievable rents to new heights, on par with other major Southeastern markets. ABUNDANT RECREATIONAL AND CULTURAL AMENITIES Uptown is also the metro’s nightlife and event hub with a full spectrum of professional sports teams including the Carolina Panthers (NFL), Charlotte Hornets (NBA), and Charlotte Knights (AAA baseball), as well as numerous theatre, musical, and fine arts venues. MARKET 42 | HFF 7 HIGH-QUALITY EMPLOYMENT BASE AND NUMEROUS GATEWAY- QUALITY AMENITIES 100,000+ TWO daily employees Fortune 500 headquarters 22.5 MSF THREE office market major sports teams & (2nd largest in the stadiums (NFL, NBA, Southeast) MLB-AAA) 400+ 29,000 restaurants & retailers students (at 12 higher education institutions) 20+ 15,300 museums, theatres, residents or cultural venues MARKET 42 | HFF 8 NO.1 MOST ENTREPRENEURIAL CITIES GLOBAL TRADE MAGAZINE (DECEMBER 2014) O AN EMERGING GATEWAY CITY N .1 POPULATION, ECONOMIC GROWTH PROPEL CHARLOTTE BEST BIG CITY BARGAINS TOWARDS “GATEWAY” STATUS GLOBAL TRADE MAGAZINE (DECEMBER 2014) EXCEPTIONAL JOB CREATION SUPPORTS STELLAR POPULATION GROWTH Charlotte tops the United Nations population projection in the U.S. O between 2010 and 2030, on the heels of robust 3.6% CAGR between N .1 2000 and 2014. A significant population driver is Charlotte’s Millennial MOST COMPETITIVE appeal with 12% growth in the past five years, the 8th highest metro increase and six-fold the U.S. average. LARGE-SIZE AIRPORTS AIR TRANSPORT RESEARCH SOCIETY (SEPTEMBER 2014) MULTIFACETED, NATION-LEADING ECONOMIC EXPANSION Fueled by an extraordinary surge in high-quality employment growth, Charlotte created more than 42,300 (3.8% YOY) jobs in the past year – and over 70,000 in the last two years – on the tailwinds of high- impact energy and technology jobs, bank stabilization, and substantial NO.2 corporate expansion and relocation announcements. FASTEST-GROWING LEADING HEADQUARTERS AND REGIONAL HUB DESTINATION BIG CITIES A magnet for corporate operations and home to seven Fortune 500 HQs, Charlotte continues to enjoy remarkable recent success U.S. CENSUS BUREAU (DECEMBER 2014) in attracting major companies to the market, including dynamic relocations and expansions by MetLife, Sealed Air (Fortune 500), Dimensional Fund Advisors, and Albemarle Corporation. WORLDWIDE AIRPORT CONNECTIVITY SUBSTANTIALLY FUELS GROWTH O With phenomenal international air travel options, Charlotte is easily N .3 able to attract globally connected companies and residents. Charlotte- MOST ATTRACTIVE U.S. Douglas International Airport ranked as the eighth busiest U.S. airport INVESTMENT MARKET IN 2016 with nearly 44.3 million passengers in 2014 (up 7.4% since 2012) and nd URBAN LAND INSTITUTE (NOVEMBER
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