46 Penn Centre

4622 Avenue, City,

Stephen J. Block Kenneth G. Block, SIOR, CCIM 816.932.5537 816.932.5551 [email protected] [email protected]

Hunter Johnson Max Wasserstrom 816.412.5878 816.412.8428 [email protected] [email protected]

700 W. 47th Street, Suite 200 Kansas City, MO 64112 816.756.1400 | www.BLOCKLLC.com Table of Contents

I. Executive Summary Executive Summary...... 3

II. Property Description Building Profile...... 7 Location Map...... 10 Aerials...... 11 Site Plan...... 14 Renderings...... 15 Elevations...... 23 Floor Plans...... 24

III. Market Overview Amenities...... 33 Country Club Plaza Retailers...... 36 Country Club Plaza Hotels...... 37

For More Information: Stephen J. Block 816.932.5537 [email protected] Kenneth G. Block, SIOR, CCIM 816.932.5551 [email protected] Hunter Johnson 816.412.5878 [email protected] Max Wasserstrom 816.412.8428 [email protected]

Block Real Estate Services, LLC 700 W. 47th Street Kansas City, MO 64112 816.756.1400 www.blockllc.com

2 | 46 Penn Centre I. Executive Summary

Block Real Estate Services, LLC | 3 Executive Summary Property 46 Penn Centre 4622 Pennsylvania Avenue Kansas City, Missouri

Location The 46 Penn Centre property is located on Pennsylvania Avenue immediately west of where 46th Terrace dead ends into Pennsylvania Avenue. This property is located on the north edge of the Country Club Plaza which is located in Kansas City, MO. This site is far and away the “Best” remaining redevelopment site in the Plaza. The site has tremendous access, visibility, and its development potential is simply unsurpassed in the Plaza.

The Country Club Plaza is home to notable firms such as Lockton Companies, Polsinelli, Husch Blackwell, American Century and a host of other local and national companies.

Market The Plaza’s popularity and reputation has been recognized around the country. The entire 15-block district, with more than 150 shops and dozens of fine restaurants, makes The Country Club Plaza Kansas City’s premier retail, dining and entertainment destination.

Building Data Gross Rentable: +/- 220,000 square feet

Completion Date Q2 2018

Site 1.17 acres

Height 14 Stories

Developer Block Development Company, Inc.

Description The 46 Penn Centre building will be an 14-story, high image office building composed of multiple shades of brick, pre-cast stone and reflective glass. Superior construction and building systems, ample parking, along with the Country Club Plaza location makes 46 Penn Centre an ideal long term office building location.

Property Video http://www.blockllc.com/46PennCentre/video

Tenancy Corporate tenants desiring quality, state of the art, Country Club Plaza office space.

Parking The property will contain 653 parking stalls in the attached garage or 3 spaces per 1,000 square feet of rentable area.

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Block Real Estate Services, LLC

Kansas City Overview The Kansas City metropolitan area is a bi-state, 15 county community with over 2.2 million residents. Cost and location advantages, coupled with an enviable, yet affordable lifestyle, have led to recent announcements by major firms to locate significant new operations or expand existing operations in the Greater Kansas City area. Kansas City’s relatively low wage structure, central location and highly educated work force were several of the main reasons for these relocations and expansions. The area is also an ideal hub for distribution and telecommunication companies.

Midtown Submarket As of the fourth quarter of 2015, the Kansas City office market inventory consisted of 115.1 million square feet, spread across 4,369 buildings. Occupancy in the Kansas City office market stood at 89.7% as of the end of 2015, while the average quoted rental rate was $17.85 at the end of the year. Total absorption in 2015 was 1,205,263 square feet while there were 237,767 square feet delivered year-to-date. The Project will be located within the Midtown Submarket, which accounted for 166,974 square-feet, or 13.9% of the total market’s absorption during 2015. Additionally, the Midtown Submarket ended the year with average quoted rates of $22.43 in Class A buildings, which were 7.4% higher than the overall market’s average rental rate of $20.89 in Class A buildings.

Executive Summary | 5 II. Property Description

6 | 46 Penn Centre Property Description

Block Real Estate Services, LLC

Building Profile Building Address 46 Penn Centre 4622 Pennsylvania Avenue Kansas City, Missouri

Building Description The 46 Penn Centre building will be an 14-story, high image corporate office building located in the heart of the Country Club Plaza. Superior construction and building systems, ample parking, and a premier location combine to make 46 Penn Centre the ideal long term office building location. The building will offer state-of-the art, world class amenities including a restaurant accessible from the spacious two-story main entrance lobby complete with an outdoor terrace. All floors will have access to private tenant balconies. The office building is carefully planned and designed to achieve LEED standards.

Completion/Occupancy Date Q2 2018

Land Area 1.17 acres

Building Data Gross Rentable: +/- 220,000 square feet

Area Measurements Floor Rentable Square Feet LL1: Garage Parking LL2: Garage Parking Floor 1/P1: 4,063 Square Feet (restaurant/retail/bank)/Garage Parking P2: Garage Parking Floor 3/P3: 6,978 Square Feet (restaurant)/Garage Parking P4: Garage Parking P5: Garage Parking Floor 6/P6: 8,624 Square Feet (office space)/Garage Parking Floor 7: 25,122 Square Feet Floors 8-13: 24,782 Square Feet Floor 14: 24,694 Square Feet

On-Site Parking The property will contain 653 covered parking spaces in the attached garage, or 3 spaces per 1,000 square feet of rentable area.

Elevators 4 cabs with upgraded finish serving the office levels - 500 feet/min speed, 4,000 lb cabs (1 cab will be 4,500 lb), digital controls with security card access; 2 cabs serving the garage with transfer at the lobby level as well as level 6 of the garage. This system is more efficient and lower in maintenance costs.

Roof The roof will be mechanically fastened TPO Membrane roofing system.

HVAC 840 Ton high efficiency series counter flow screw chiller plant. Individual fan unit on each floor with make-up air and heat recovery. Main heating and cooling plant will have digital controls. Tenant finish will include multi-zones with computer controls.

Restrooms Porcelain tile floors, patterned ceramic tile walls, drywall ceilings, Granite counters, motion sensor valves, individual stalls separated by full height drywall partitions.

Property Description | 7 Fire Protection The building will be completely sprinklered and monitored off-site 24 hours per day.

Hours of Operation Monday – Friday: 7:00 a.m. – 6:30 p.m. Saturday: 8:00 a.m. – 1:00 p.m. Sunday and Holidays: Closed

Security The building entrances will have a computer integrated security system, with 24-hour card access. Consideration for full-time security also being examined.

Utilities Electricity - Kansas City Power & Light Water - KCMO Water Services Department Sewer - KCMO Water Services Department Telephone - AT&T and Time Warner

Electrical System The building will provide 480/277 volt, 5,600 amp service with capacity to supply 6 watts per square foot.

Lighting Newer high efficiency LED fixtures and high efficiency fluorescent where appropriate.

Lobby & Common Area The building will offer one main entrance and two secondary entrances on the main level. The two story main entrance lobby features a glass curtain wall for maximum transparency and view of the Country Club Plaza, stone clad columns, granite flooring , wood covered panels , a wood ceiling, stainless steel trim, and additional stainless steel accents. The pavement, water fountain, and landscape are carefully articulated so as to complement the Country Club Plaza’s existing character.

Zoning Office

Energy Conservation The building will include a complete digital control system with energy conservation logic that will continuously monitor power loads and shed load as necessary to minimize energy consumption while maintaining an ideal working environment. The expected energy savings are 30-40% over standard buildings currently existing thereby reducing operating expenses.

Window Systems The building will be 69% glass. Thermally insulated Kawneer window wall system with 1” insulated low-e glass – 10’6” height to reduce energy losses.

Curtain Wall Systems Thermally insulated Kawneer 1600 curtain wall system with 1” insulated low-e glass – floor to ceiling height to reduce energy losses.

Architectural Features The monumental end cap of the office tower will be constructed using light weight steel frame , factory formed and Painted metal cladding system glass and curtain wall system with integrated LED backlit translucent glass panels system. This reflects a new era of development in Kansas City and will make this building iconic.

8 | 46 Penn Centre Property Description

Block Real Estate Services, LLC

Parking Control System Gates controlled by cards. Visitors have tickets validated or pay by credit card. No attendant required thereby reducing operating expenses.

Building Access System All entry points controlled by one card system. Authorized entry at any point by one card system. Every controlled door can be set to allow only authorized personnel for that space. This will provide superior security and the ability to monitor all ingress/egress activity.

Building Signage Major tenant sign at the top of the building visible from a significant distance. This will be a dominant calling card for a major tenant.

Property Description | 9 Location Map

10 | 46 Penn Centre Property Description

Block Real Estate Services, LLC Aerial

Property Description | 11 12 | 46 Penn Centre Property Description

Block Real Estate Services, LLC Office Space Aerial - Plaza

Property Description | 13 Site Plan

GARAGE

RESTAURANT it O U T D R T E R A C

LOBBY

14 | 46 Penn Centre

AUGUST 13, 2013 Property Description

Block Real Estate Services, LLC Renderings

Property Description | 15 16 | 46 Penn Centre Property Description

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Property Description | 17 18 | 46 Penn Centre Property Description

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Property Description | 19 20 | 46 Penn Centre Property Description

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Property Description | 21 22 | 46 Penn Centre Property Description

Block Real Estate Services, LLC

Elevation

Property Description | 23 LL1 GARAGE FLOOR PLAN PARKING GARAGE PARKING SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 053 FIRE PUMP ROOM UP S1 EAST EAST STAIR DN E4 052 ELEV 4 CORRIDOR 051 ELEV. LOBBY E1 ELEV 1 055 PARKING GARAGE - LL1 GARAGE PARKING UP S2 WEST STAIR DN LL1 Garage Floor Plan LL1 Garage LL2 GARAGE FLOOR PLAN PARKING GARAGE PARKING SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 003 SUMP PUMP ROOM UP S1 EAST EAST STAIR 002 E4 CORRIDOR ELEV 4 001 ELEV. LOBBY E1 ELEV 1 055 005 PARKING GARAGE - LL1 GARAGE PARKING PARKING GARAGE - LL2 GARAGE PARKING UP S2 WEST STAIR Floor Plans — Parking Garage Floor Plans — Parking Floor Plan LL2 Garage

24 | 46 Penn Centre Property Description

Block Real Estate Services, LLC P2 GARAGE - FLOOR 2 PLAN OFFICE SPACE GARAGE PARKING RESTAURANT SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND (UNDER RAMP) SPEED OPEN TO GARAGE BELOW OPEN GARAGE TO OPEN TO BELOW STAIRUP TO RESTAURANT S1 OPEN TO EAST EAST STAIR LOBBY BELOW 208 AREA RESTAURANT - SERVICE RESTAURANT 205 PARKING GARAGE - P2 GARAGE PARKING UP S2 DN WEST STAIR 207 206 ELEC. ROOM ELEC. EMER. LIFE SAFETY - EMER. P2 Garage Floor Plan P2 Garage P1 GARAGE - FLOOR 1 PLAN OFFICE SPACE GARAGE PARKING RESTAURANT/RETAIL/BANK SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 108 WATER ENTRYWATER 107 TENANT TENANT SPACE 106 CENTER 102 LOBBY FIRE COMMAND FIRE S1 EAST EAST STAIR 100 VESTIBULE 110 E4 E5 E6 ELEV 4 ELEV 5 ELEV 6 CORRIDOR 103 101 ELEV. LOBBY VEST. STAIR/LIFT VEST. 104 ELEC. E1 E2 E3 ELEV 1 ELEV 2 ELEV 3 VAN 105 VAN PARKING GARAGE - P1 GARAGE PARKING VAN UP S2 WEST STAIR DN 109 ELEC. PRIMARY Floor Plans — Parking Garage Floor Plans — Parking Floor Plan P1 Garage

Property Description | 25 P4 GARAGE - FLOOR 4 PLAN PARKING GARAGE PARKING SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND OPEN TO LOBBY BELOW CONDITIONED PARKING CONDITIONED UP S1 EAST EAST STAIR DN 402 E4 ELEV 4 CORRIDOR 401 ELEV. LOBBY E1 ELEV 1 405 PARKING GARAGE - P4 GARAGE PARKING UP S2 WEST STAIR DN P4 Garage Floor Plan P4 Garage P3 GARAGE - FLOOR 3 PLAN PARKING GARAGE PARKING RESTAURANT SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 303 RESTAURANT OPEN TO LOBBY BELOW UP S1 EAST EAST STAIR OPEN TO LOBBY BELOW 302 E4 CORRIDOR ELEV 4 301 ELEV. LOBBY E1 ELEV 1 PARKING GARAGE - P3 GARAGE PARKING UP DN Floor Plans — Parking Garage Floor Plans — Parking Floor Plan P3 Garage

26 | 46 Penn Centre Property Description

Block Real Estate Services, LLC P6 GARAGE - FLOOR 6 PLAN OFFICE SPACE GARAGE PARKING SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 606 607 TENANT TENANT SPACE CENTRAL PLANT CENTRAL UP S1 EAST EAST STAIR DN DN E4 E5 E6 ELEV 4 ELEV 5 ELEV 6 602 CORRIDOR 601 ELEV. LOBBY E1 E2 E3 ELEV 1 ELEV 2 ELEV 3 DOWN TO P5 P5 P6 605 PARKING GARAGE - P6 GARAGE PARKING RATED PATHWAY EGRESS ABOVE DRIVELANE UP DN RATED PATHWAY EGRESS ABOVE DRIVELANE P6 Garage Floor Plan P6 Garage P5 GARAGE - FLOOR 5 PLAN PARKING GARAGE PARKING SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 407 SPACE ABOVE OCCUPIED TENANT OCCUPIED CONDITIONED PARKING CONDITIONED UP UP S1 EAST EAST STAIR 502 E4 ELEV 4 CORRIDOR 501 ELEV. LOBBY E1 ELEV 1 PARKING GARAGE - P5 GARAGE PARKING UP S2 WEST STAIR DN 505 21,267 SF PARKING GARAGE - P5 Floor Plans — Parking Garage Floor Plans — Parking Floor Plan P5 Garage

Property Description | 27 7TH FLOOR PLAN BALCONY OFFICE SPACE SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 710 BALCONY 701A CORRIDOR S1 FIRE ACCESS ELEV. EAST EAST STAIR ELEVATOR 701 ELEV. LOBBY 702 MEN'S RR 708 703 TENANT TENANT SPACE WOMEN'S RR 704 MECHANICAL 705 JANITOR 706 707 ELEC DATA S2 WEST STAIR DN 709 BALCONY Floor Plan — Seventh Floor Floor Plan — Seventh

28 | 46 Penn Centre Property Description

Block Real Estate Services, LLC 8TH-13TH FLOOR PLANS BALCONY OFFICE SPACE SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND 801A S1 CORRIDOR EAST EAST STAIR FIRE ACCESS ELEV. ELEVATOR 801 ELEV. LOBBY 802 MEN'S RR 808 TENANT TENANT SPACE 803 WOMEN'S RR 804 MECHANICAL MECH. MECH. SHAFT 805 JANITOR 806 DATA 807 ELEC S2 WEST STAIR 809 BALCONY — Eighth - Thirteenth Floor - Thirteenth — Eighth Floor Plan ­

Property Description | 29 ROOF PLAN ROOF OBSERVATION DECK OBSERVATION CIRCULATION VERTICAL AREA LEGEND ELEVATORAND STAIR ACCESS DN E5 E6 ELEV 5 ELEV 6 OBSERVATION DECK OBSERVATION 1501 ELEV. LOBBY EXIT CORRIDOR EXIT DN STAIR ACCESS Floor Plan — Fourteenth Floor Floor Plan — Fourteenth

30 | 46 Penn Centre Property Description

Block Real Estate Services, LLC ROOF 90' - 0" 79' - 4" 281' - 0" - 281' 0" - 267' 0" - 253' 0" - 239' 0" - 225' 0" - 211' 0" - 197' 0" - 183' 0" - 169' 0" - 155' 4" - 144' 8" - 133' 6" - 122' 0" - 100' 111' - 10" - 111' 9TH FLOOR PLAN9TH FLOOR PLAN8TH FLOOR PLAN7TH FLOOR 14TH PLAN FLOOR 13TH PLAN FLOOR 12TH PLAN FLOOR 11TH PLAN FLOOR 10TH PLAN FLOOR P6 GARAGE NORTH P6 GARAGE NORTH P5 GARAGE NORTH P4 GARAGE NORTH P3 GARAGE NORTH P2 GARAGE P1 GARAGE - LOBBY LL1 NORTH GARAGE LL2 NORTH GARAGE BUILDING SECTION BUILDING MECH PARKING PARKING PARKING OFFICE OFFICE OFFICE OFFICE OFFICE OFFICE OFFICE OFFICE OFFICE PARKING RESTAURANT RESTAURANT/RETAIL/BANK LOBBY

OBSERVATION DECK PROPERTY LINE PROPERTY P6 MEZZANINE P6 GARAGE SOUTH P5 GARAGE SOUTH P4 GARAGE SOUTH P3 GARAGE SOUTH P2 GARAGE SOUTH P1 GARAGE SOUTH LL1 GARAGE SOUTH LL2 GARAGE SOUTH 158' - 10" - 158' 95' - 4" 84' - 8" 74' - 0" 149' - 8" - 149' 0" - 139' 4" - 128' 8" - 117' 0" - 107' OBSERVATION DECK OBSERVATION OFFICE SPACE GARAGE PARKING SHAREDSERVICES CIRCULATION VERTICAL AREA LEGEND Floor Plan — Fourteenth Floor Floor Plan — Fourteenth

Property Description | 31 III. Market Overview

32 | 46 Penn Centre Market Overview

Block Real Estate Services, LLC

Country Club Plaza Amenities The Plaza’s popularity and reputation has been recognized around the country. The entire 15-block district, with more than 150 shops and dozens of fine restaurants, makes The Country Club Plaza Kansas City’s premier shopping, dining and entertainment destination.

Shoppers will recognize fine stores like Anthropologie and Tiffany & Co. Original Kansas City stores like Halls and Tivol give local flavor to the Plaza’s reputation as a national fashion center. Pleasant surprises can be found along each block – from tiny shoe boutiques to delicious chocolatiers, couture clothiers, stylish salons and fine jewelry.

The Country Club Plaza boasts a collection of Kansas City’s favorite restaurants. From charming al fresco cafes, to fresh seafood, steak and barbecue, the Plaza has something to suit any appetite or occasion.

The Plaza is kept lively with a year-round calendar of music and special events, including the famous Plaza Lights and the widely recognized Plaza Art Fair.

With its rich history, fine dining, superb shopping and entertaining activities throughout the year, it is understandable that the Country Club Plaza is the Midwest’s premier destination.

Information courtesy of www.countryclubplaza.com

Market Overview | 33 34 | 46 Penn Centre Market Overview

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Market Overview | 35 Country Club Plaza Retailers

• A|X Armani Exchange • Diebel’s Sportsmens Gallery • Moosejaw • Sheraton Suites • ALDO • E.G. Geller • N Valentino • Soft Surroundings • Ambiance on the Water • Eddie Bauer • Natasha’s Mulberry & Mott • Inn • American Apparel • Embassy Suites • Noodles & Company • Sperry Top-Sider • American Eagle • Express • The North Face • St. John • Ann Taylor • Fiorella’s Jack Stack Barbecue • The Oak Room • Standard Style Boutique • Ann Taylor Loft • Firehouse Subs • O’Dowd’s Little Dublin • Starbucks • Anthropologie • Fogo de Chao • Optical Shop of Aspen • Starker’s Restaurant • The Apple Store • Francesca’s Collections • Panache Chocolatier • Sunglass Hut • The Art of Shaving • Fred P. Ott’s • Pandora • Superlatives • Athleta • Free People • Panera Bread Bakery Cafe • Sur La Table • Baby Gap & Gap Kids • The Gallery at Sheraton Suites • Paper Source • Surreys on the Plaza • Banana Republic • GameStop • Parlor: A Beauty Bar • Swirk Jewelry • Bank of America • Gap • Peruvian Connection + PRIZE • Talbots • Bare Escentuals • Gram & Dun • PF Chang’s China Bistro • Teavana • Barnes & Noble • The Granfalloon Restaurant • Pinstripes • Three Dog Bakery • Barnes & Noble Cafe • Gymboree • Plaza Customer Service • Tiffany & Co. • Bath & Body Works • H&M • Plaza Hair Design • Tivol • BCBGMAXAZRIA • Halls • Plaza III The Steakhouse • Tomfooleries • Beauty Brands • Hampton Inn & Suites • Plaza Living Center • Tommy Bahama • Bebe • Helzberg • Plaza Shoe Shine • Topsy’s Popcorn • The Better Cheddar • Highwoods Public Safety • The Plaza Tennis Center • Tulip • Bird Sings • The Holiday Inn at The Plaza • Potbelly Sandwich Shop • Tumi • Blanc Burgers + Bottles • Hot Mama • Pottery Barn • UMB • Bo Ling’s Chinese Restaurant • Houston’s • Pottery Barn Kids • UPS Store • Brighton Collectibles • Ingredient • Rally House • Urban Outfitters • Brio Tuscan Grille • The Intercontinental Hotel • The Raphael Hotel • Vera Bradley • Buca di Beppo • J. Crew • Renners Boots • Victoria’s Secret • Burberry • J.McLaughlin • Residence Inn by Marriott • Vinca Fine Jewelry • Pizza Kitchen • Jack Henry • Restoration Hardware • The Walking Co. • The Capital Grille • Kansas City Carriages • Ruth’s Chris Steakhouse • White House Black Market • Chaz on the Plaza • Marriott Country Club Plaza • Salon Sophia • Williams-Sonoma • The Cheesecake Factory • Kaplan’s • Scandia Home • XXI Forever • Chico’s • kate spade • Scooter’s Coffee & Yogurt • Zócalo Mexican Cuisine • Cinemark Palace at The Plaza • Kona Grill • Seasons 52 • Zoom • Classic Cup Sidewalk Cafe • L’Occitane • Clearwire • Larrissa’s Tailor Shop • Coach • LatteLand Espresso & Tea • Coal Vines • LEADER Worldwide Chauffeur • Cold Stone Creamery • Lucky Brand Jeans • Cole Haan • lululemon • Commerce Bank • M & S Grill • Cooper’s Hawk Winery • MAC Cosmetics • Country Club Bank • Marmi • Country Club Nails • Massage Envy Spa • Courtyard by Marriott • McCormick & Schmick’s • Cupcake A La Mode • The Melting Pot • Decori • Michael Kors • Detail Pro • Milan Optique

36 | 46 Penn Centre Market Overview

Block Real Estate Services, LLC LODGING MARKET

Following are the major hotels in the Country Club Plaza market area as well as the number of Countrytotal Club guest Plaza rooms Hotels and/or suites:

Guest Rooms Meeting Rooms

1. Hampton Inn & Suites 203 6 4600 Summit Street Kansas City, MO

2. Sheraton Suites Country Club Plaza 255 6 770 W. 47th Street Kansas City, MO

3. The Intercontinental Hotel 365 23 401 Kansas City, MO

4. Residence Inn by Marriott 106 1 4601 Broadway Kansas City, MO

5. The Raphael Hotel 127 2 325 Ward Parkway Kansas City, MO

6. Courtyard by Marriott 123 3‐4 4600 J.C. Nichols Parkway Kansas City, MO

7. Marriott Country Club Plaza 293 8‐10 4445 Main Street Kansas City, MO

8. The Holiday Inn at The Plaza 240 5 1 East 45th Street Kansas City, MO

9. Southmoreland Inn 13 1 116 E. 46th Street Kansas City, MO

Market Overview | 37 For More Information: Stephen J. Block 816.932.5537 [email protected]

Kenneth G. Block, SIOR, CCIM 816.932.5551 [email protected]

Hunter Johnson 816.412.5878 [email protected]

Max Wasserstrom 816.412.8428 [email protected]

700 W. 47th Street, Suite 200 Kansas City, MO 64112 816.756.1400 | www.BLOCKLLC.com