National Anchored Retail Group Real Estate is Not a Commodity It is Complex, Tenant Driven, and Market Centric

At Faris Lee, we never treat real estate like a commodity. Retail, in particular, is uniquely complex. It’s decidedly tenant-driven and completely location-driven. That is why we established a collaborative and highly creative culture — to set the industry standard in retail investment and client service. Whether advising on a single asset or large portfolio, we bring top-level expertise to every aspect of the transaction, providing our clients with strategy, execution, and results that are unmatched by any other retail-specialized group in the nation.

One Team. One Company: Moving Markets and Maximizing Value. Real Estate is Not a Commodity Anchored Retail Investment Group It is Complex, Tenant Driven, and Market Centric Overview

Anchored retail properties are arguably the most complicated and complex assets within the retail real estate marketplace. The Faris Lee National Anchored Retail Investment Group’s understanding of the nuances and complexities of anchored retail is unmatched in the industry.

Armed with decades of collective experience and supported by a fully integrated platform that seamlessly blends local market research, real-time industry trends, and in-depth financial analysis, the Faris Lee team guides institutional owners, private investment companies, high net worth family offices and developers to unlock the hidden value of complex retail assets. By evaluating and underwriting all aspects that contribute to a property’s value, current and future value is effectively articulated to potential investors.

Faris Lee’s experts have intimately collaborated with a diverse range of owners and investors across the nation. The ability to identify the most qualified buyers for anchored retail properties, command the best pricing, and achieve maximum investment returns for clients is a standard by which Faris Lee is measured. The firm’s track record, combined with their unparalleled results for their clients, has established Faris Lee Investments as the industry leader and gold standard in the brokerage community.

National Anchored Retail Investment Group specializes in:

• Grocery-Anchored Center

• Shadow-Anchored Centers

• Community Centers

• Power Centers

• Mixed-Use Properties

• Regional Malls Leadership Team

As a Senior Managing Partner at Faris Lee Investments, Mr. MacLellan helps lead the firm’s major disposition assignments and is part of the senior advisory team. He is also active in transaction negotiations and overseeing staff in the proposal process. Mr. MacLellan has more than 33 years of commercial investment sale experience. His focus has been in acquisition/disposition services, which includes core, value-add opportunities, structured debt and equity structuring. During his career, he has been directly involved in more than 450 investment transactions don maclellan valued in excess of $5 billion. Senior Managing Partner Mr. MacLellan has been the lead broker on many large high profile retail transactions throughout the US including: Northglenn Marketplace, Denver CO- $48 million, The District, a grocery/lifestyle center in Henderson, NV- $79.3 million and a nationwide Albertsons portfolio- $101 million. Prior to joining Faris Lee, Mr. MacLellan spent 17 years with CBRE and HFF in Southern . He is considered one of the elite retail investment brokers in California based on his extensive transaction activity and client list, as well as his successful completion of some of the country’s most creative and complex retail transactions. As President and Chief Executive Officer of Faris Lee Investments, Mr. Chichester is responsible for overseeing the development and execution of the firm’s business strategies and managing its day-to- day operations. A real estate industry veteran with 30+ years of experience, Mr. Chichester is a commercial real estate executive that is successful at building corporate value and improving profitability through market expansion and development, process re-engineering, business development, cost containment, client base rick chichester management and corporate positioning. His core President & CEO competencies are focused on accelerated growth and/or turnaround that emphasize stabilization and revitalization strategies, together with strong financial management.

Phil Ramming recently joined Faris Lee Investments as Senior Managing Director of the National Anchored Retail Investment Group (NARIG). With over 35+ years of institutional and entrepreneurial real estate transaction experience, Mr. Ramming has an extensive asset management background in dispositions, acquisitions, operational matters, planning and budgeting, investment finance and fund raising. Mr. Ramming was a leader within the asset management team of Sabal Financial Group, LP, an affiliate of Oaktree Capital where they managed over phillip ramming $8.2 billion in assets on behalf of clients and investors. Senior Managing Partner Ramming served as Retail Product Leader, Portfolio Manager, and development and was a member of the Investment Committee. Mr. Ramming was responsible for the investment performance of a portfolio of diverse assets with value of over $340 million. Client References

Highlighted National Sales Transactions

ST.CHARLES, IL MAIN STREET COMMONS $18,582,000 JANESVILLE, WI WESTMINSTER, CO JANESVILLE MALL EVERETT, WA TAYLORSVILLE, UTWILLOW RUN NORTHBROOK, IL EVERETT MALL $18,000,000 VILLAGE SQUARE CROSSROADS $10,825,000 $110,000,000 $7,700,000 $79,000,000 BELLEVUE, WA EVERETT VILLAGE THE SHOPS AT THE BRAVERN OLATHE, KS ST. MATTHEWS, KY $28,000,000 DENVER, CO OLATHE STATIO BLUEGRASS MANOR SHOPPING $79,000,000 NORTHGLEN CENTER MOUNT TOWNSHIP, NJ CENTER MARKETPLACE $46,100,000 ITC CENTER WENATCHEE, WA $44,000,000 $64,300,000 WENATCHEE VALLEY MALL $48,000,000 CINCINNATI, OH VANCOUVER, WA $43,020,000 THE GREAT INDOORS RACINE, WI SYCAMORE PLAZA AT KENWOOD PADDEN MARKET CENTER REGENCY MALL $33,700,000 $61,050,000 PENNSDALE, PA $18,200,000 $9,600,000 LYCOMING MALL KENWOOD PAVILION $28,500,000 $17,685,000 KENWOOD CITY PLACE HILLSBORO, OR $14,350,000 HILLSBORO TOWN CENTER $10,000,000

LIVERMORE, CA PLAZA 580 $10,600,000

ANDERSON, SC ANDERSON STATION $30,300,000 PITTSBURG, CA NORTH PARK PLAZA $21,375,000

SAN JOSE, CA SEE SOUTHERN PLAZA DE SAN JOSE CALIFORNIA LIST ORMOND BEACH, FL $34,000,000 THE TRAILS $23,000,000 HENDERSON, NV THE DISTRICT AT GREEN VALLEY RANCH $79,300,000

PHOENIX, AZ PAYSON, AZ WATSON MARKETPLACE PAYSON VILLAGE $22,000,000 ATLANTA, GA $15,075,000 COBB PLACE $61,000,000 NOGALES, AZ LOMA LINDA SHOPPING CENTER $22,000,000 BIRMINGHAM, AL ORLANDO, FL HOUSTON, TX VILLAGE AT LEE BRANCH GOODING'S PLAZA/HOLLYWOOD WESTGATE MARKET PLAZA $33,535,000 PUEBLO, CO $25,100,000 $22,000,000 PUEBLO MALL $32,000,000 KELLER, TX MONROE, LA KELLER PLACE PECANLAND COMMONS $14,300,000 $14,600,000 ST.CHARLES, IL MAIN STREET COMMONS $18,582,000 JANESVILLE, WI WESTMINSTER, CO JANESVILLE MALL EVERETT, WA TAYLORSVILLE, UTWILLOW RUN SHOPPING CENTER NORTHBROOK, IL EVERETT MALL $18,000,000 VILLAGE SQUARE CROSSROADS $10,825,000 $110,000,000 $7,700,000 $79,000,000 BELLEVUE, WA EVERETT VILLAGE THE SHOPS AT THE BRAVERN OLATHE, KS ST. MATTHEWS, KY $28,000,000 DENVER, CO OLATHE STATIO BLUEGRASS MANOR SHOPPING $79,000,000 NORTHGLEN CENTER MOUNT TOWNSHIP, NJ CENTER MARKETPLACE $46,100,000 ITC CENTER WENATCHEE, WA $44,000,000 $64,300,000 WENATCHEE VALLEY MALL $48,000,000 CINCINNATI, OH VANCOUVER, WA $43,020,000 THE GREAT INDOORS RACINE, WI SYCAMORE PLAZA AT KENWOOD PADDEN MARKET CENTER REGENCY MALL $33,700,000 $61,050,000 PENNSDALE, PA $18,200,000 $9,600,000 LYCOMING MALL KENWOOD PAVILION $28,500,000 $17,685,000 KENWOOD CITY PLACE HILLSBORO, OR $14,350,000 HILLSBORO TOWN CENTER $10,000,000

LIVERMORE, CA PLAZA 580 $10,600,000

ANDERSON, SC ANDERSON STATION $30,300,000 PITTSBURG, CA NORTH PARK PLAZA $21,375,000

SAN JOSE, CA SEE SOUTHERN PLAZA DE SAN JOSE CALIFORNIA LIST ORMOND BEACH, FL $34,000,000 THE TRAILS $23,000,000 HENDERSON, NV THE DISTRICT AT GREEN VALLEY RANCH $79,300,000

PHOENIX, AZ PAYSON, AZ WATSON MARKETPLACE PAYSON VILLAGE $22,000,000 ATLANTA, GA $15,075,000 COBB PLACE $61,000,000 NOGALES, AZ LOMA LINDA SHOPPING CENTER $22,000,000 BIRMINGHAM, AL ORLANDO, FL HOUSTON, TX VILLAGE AT LEE BRANCH GOODING'S PLAZA/HOLLYWOOD WESTGATE MARKET PLAZA $33,535,000 PUEBLO, CO $25,100,000 $22,000,000 PUEBLO MALL $32,000,000 KELLER, TX MONROE, LA KELLER PLACE PECANLAND COMMONS $14,300,000 $14,600,000 CARSON | Southbay Pavilion | $50,000,000 THOUSAND OAKS | Janss Marketplace | $47,000,000 SIMI VALLEY | Mountaingate Plaza | $39,600,000 Highlighted Hawaii Sales Transactions CALABASAS | Creekside | $21,700,000 KAPAA | Coconut Marketplace | $8,200,000 VALENCIA | Tesoro Village Shopping Center | $31,000,000 KAPAA | Kauai Village | $33,000,000 VALENCIA | GatewayVillage | $66,000,000 WAIANAE | Waianae Mall | $30,000,000 SANTA CLARITA | Santa Clarita Plaza | $24,000,000 KAPOLEI (HONOLULU) | Halekuai Center | $14,500,000 REDONDO BEACH | Redondo Beach Plaza | $23,850,000 HONOLULU | Hawaii Kai Towne Center | $109,500,000 TORRANCE | Torrance Crossroads | $138,000,000 KAILUA | Windward Town & Country | $29,600,000 GARDENA | Gardena Marketplace | $19,100,000 KIHEI (MAUI) | Pilani Village | $27,000,000 CITY OF INDUSTRY | Mall | $170,500,000 CITY OF INDUSTRY | Plaza at Puente Hills | $44,000,000 MAUI | Kahana Gateway | $25,500,000 HACIENDA HEIGHTS | Hacienda Center | $39,300,000 WAIKOLOA VILLAGE | Waikoloa Highlands Center | $22,475,000 MONTCLAIR | Montclair East Shopping Center | $25,530,000 KONA | Kona Crossroads | $16,000,000 RANCHO CUCAMONGA | Foothill Crossing | $54,000,000 KONA | Kona Coast | $19,050,000 LONG BEACH | Long Beach Marketplace | $44,300,000 KAILUA KONA | Coconut Grove Marketplace | $24,200,000 ANAHEIM | Euclid Plaza | $27,500,000 HILO | Waiakea Shopping Center | $19,000,000 FONTANA | Southridge Plaza | $20,575,000 YORBA LINDA | Yorba Canyon | $20,300,000 CHINO HILLS | Crossroads Marketplace | $62,000,000 CORONA | Sierra Del Oro Town Center | $18,500,000 COSTA MESA | Costa Mesa Square | $19,935,000 ALISO VIEJO | Aliso Viejo Town Center | $23,380,000 RANCHO SANTAMARGARITA | Plaza El Paseo | $56,639,000 SAN JUAN CAPISTRANO | Marbella Plaza | $29,400,000 MURRIETA | Winchester Springs | $16,000,000 HEMET | Hemet Village | $23,380,000 PALM DESERT | Desert Springs Marketplace | $28,250,000 CARLSBAD | Island at Carlsbad | $18,500,000 SAN MARCOS | Rancho San Marcos | $17,500,000 ESCONDIDO | Gateway Center | $24,825,000 SAN DIEGO | Rolando Plaza | $14,000,000 CORONADO | Coronado Plaza | $17,350,000 BAKERSFIELD | Rosedale Village | $29,300,000 TORRANCE | Southwood Village | $21,000,000 Highlighted So. Cal. Sales Transactions

CARSON | Southbay Pavilion | $50,000,000 THOUSAND OAKS | Janss Marketplace | $47,000,000 SIMI VALLEY | Mountaingate Plaza | $39,600,000 CALABASAS | Creekside | $21,700,000 BREA | Brea Center | $19,335,000 VALENCIA | Tesoro Village Shopping Center | $31,000,000 VALENCIA | GatewayVillage | $66,000,000 SANTA CLARITA | Santa Clarita Plaza | $24,000,000 REDONDO BEACH | Redondo Beach Plaza | $23,850,000 TORRANCE | Torrance Crossroads | $138,000,000 GARDENA | Gardena Marketplace | $19,100,000 CITY OF INDUSTRY | | $170,500,000 CITY OF INDUSTRY | Plaza at Puente Hills | $44,000,000 HACIENDA HEIGHTS | Hacienda Center | $39,300,000 MONTCLAIR | Montclair East Shopping Center | $25,530,000 RANCHO CUCAMONGA | Foothill Crossing | $54,000,000 LONG BEACH | Long Beach Marketplace | $44,300,000 ANAHEIM | Euclid Plaza | $27,500,000 FONTANA | Southridge Plaza | $20,575,000 YORBA LINDA | Yorba Canyon | $20,300,000 CHINO HILLS | Crossroads Marketplace | $62,000,000 CORONA | Sierra Del Oro Town Center | $18,500,000 COSTA MESA | Costa Mesa Square | $19,935,000 ALISO VIEJO | Aliso Viejo Town Center | $23,380,000 RANCHO SANTAMARGARITA | Plaza El Paseo | $56,639,000 SAN JUAN CAPISTRANO | Marbella Plaza | $29,400,000 MURRIETA | Winchester Springs | $16,000,000 HEMET | Hemet Village | $23,380,000 PALM DESERT | Desert Springs Marketplace | $28,250,000 CARLSBAD | Island at Carlsbad | $18,500,000 SAN MARCOS | Rancho San Marcos | $17,500,000 ESCONDIDO | Gateway Center | $24,825,000 SAN DIEGO | Rolando Plaza | $14,000,000 CORONADO | Coronado Plaza | $17,350,000 BAKERSFIELD | Rosedale Village | $29,300,000 TORRANCE | Southwood Village | $21,000,000 Case Studies: Grocery Anchored Centers Buyer Profile: 1031Exchange Located inaffluent OrangeCounty Anchored byVons Closing Price:$17,650,000 Brea, CA Brea Center Buyer Profile: PublicREIT Achieved historicallylow5.67%caprate Located inaffluent DallasMSAcity Anchored bystrong Kroger Closing Price:$14,280,000 Keller, TX Keller Place Buyer Profile: PrivateREIT 25% vacancy-value-addmarketing Anchored byPublix affluent coastalcommunity Primary neighborhoodcenterserving Closing Price:$16,800,000 Ormond Beach, FL The Trails Fontana, CA Southridge Plaza Exchange Buyer 1031 Buyer Profile:California Southern 6.4% caprate completed salewithnore-trade ata Lost multipletenantsduringescrow but Aid Anchored byRioRanchMarketandRite Closing Price:$20,575,000

Case Studies: Community Centers

Main St. Commons IL St. Charles, Closing Price: $16,750,000 171,500 SF Community Center in Chicago suburb affluent Generated multiple competing offers Achieved a cap rate 100 BPS below market comps Private Syndicator Buyer Profile: Foothill Crossing CA Cucamonga, Rancho Closing Price: $54,000,000 regional Sears Grand anchored Large - one of the largest 31.06 acres in Southern sites contiguous commercial California in 1031 Family Office Buyer Profile: Exchange Northglenn Marketplace Northglenn CO Denver, $48,000,000 Closing Price: MSA community Denver High-profile component big-box large center with marketing generated 20 Aggressive qualified offers Fund Advisor Buyer Profile: Gateway Center Escondido, CA Closing Price: $24,825,000 High performing San Diego MSA retail center Long term historical occupancy and performance various from Generated multiple offers profiles Local SD Exchange Buyer Buyer Profile: Case Studies: Lifestyle Centers buyer Buyer Profile: 1031Apartmentexchange trigger exchange the investor-saleofapartmentsto Created a1031exchangestrategyfor community in highlyaffluent OrangeCounty 106,920 SFlegacylifestylecenter Closing Price:$56,639,000 Rancho Santa Margarita, CA Plaza elPaseo Buyer Profile: PensionFund supply constrainedmarket showing strong tenantdemandanda Marketing strategyincluded analysis by LAFitnessandSmart&Final 149,547 SFCommunitycenteranchored Closing Price:$66,415,000 Valencia, CA Gateway Village Family Office Buyer Profile: HighNetWorth CA - 4.59Acres front commercial properties inHawaii One ofthelargest contiguousocean- on theBigIsland Rare feesimpleocean-front retail center Closing Price:$21,800,000 Kaliua-Kona, HI Coconut Grove Equity JV Buyer Profile: Developer/Institutional Attracted heavyinstitutionalinterest within LasVegas MSA Located inhighlyaffluent community center 350,000 SFgrocery anchored, lifestyle Closing Price:$79,300,000 Henderson, NV The District

Case Studies: Regional Malls

Janesville Mall Janesville WI Janesville, $18,000,000 Closing Price: High-Performing SF mall 600,600 and Sears Kohl’s, by Dick’s, anchored in-line tenants PSF from High sales for multifamily potential Strong development on property Private Family Office Buyer Profile: Everett Mall Everett WA Everett, Closing Price: $50,200,000 673,000 SF Northern Seattle MSA mall regional 85% occupancy with many short-term in-line tenants and multifamily retail Strong development upside 1031 Exchange Buyer Buyer Profile: Southbay Pavilion Carson, CA Closing Price: $50,000,000 mall regional 370,000 SF in-fill High density access community with major freeway highly Successful in restructuring complex loan to execute sale Worth Family High New Buyer Profile: Office Puente Hills Mall Puente Hills CA City of Industry, Closing Price: $170,500,000 “B” class mall Large a large of FLI Initiated the creation syndicate buyer pool with 35 investors syndicator conduit largest Structured loan in history REIT Buyer Profile: Rick Chichester [email protected] P (949) 221-1818

Don MacLellan [email protected] P (949) 221-1821

Phillip Ramming [email protected] P (949) 221-1817

18301 Von Karman Avenue, Suite 800, Irvine, CA 92612 P (949) 221-1800 F (949) 221-1830 farislee.com