1700 North State Street | Provo, UT 84604 Offering Memorandum GATEWAY PLAZA

Rawley Nielsen Darren Nielsen Colliers International +801 441 5922 +1 801 448 2662 111 Main Street | Suite 2200 [email protected] [email protected] , UT 84111 P: +1 801 947 8300 Gateway Plaza

Property Overview

> WELL-LOCATED RETAIL IN AMERICA’S TOP-PERFORMING CITY Property Overview Property Gateway Plaza In 2018, The U.S. Bureau of Labor Statistics reported that the job growth in County — home of the Name: booming Silicon Slopes — was 6 percent between March 2017 and March 2018, compared with a national average of 1.6 percent. This was enough for Utah County to be #2 in the nation for job growth, which was Property 1700 North State Street Address: Provo, Utah 84604 second only to the oil-boom-driven growth of Midland County in Texas. The same report showed that Utah County also ranked No. 6 for wage increases during that period. For these reasons, and much more, Provo- Price: $9,103,000 Orem has been named the #1 Best Performing City by Milken Institute for the last two years. Cap Rate: 7% > HIGHLIGHTS • 2nd Highest Traffic Count in Utah County: 48,000 AADT (2017) Price Per $169/ft • The 3-mile population around the site is 147,178 with an average household income of $66,140. SF: • 0.85 Miles from BYU (Over 33,000 Students) • 2.3 Miles from University (Over 40,000 students) Year Built 1975 • Orem-Provo is #1 in the nation in job growth, and is located in the fastest growing county in the fastest growing state in the nation APN: 19-064-0027 • Utah is the fastest growing state of this decade and Utah County is leading the way • ULI #3 Emerging Market in 2018 • #5 State on the 2018 Milken Technology and Science Index Lot Size: 4.71 Acres

Zoning: CG QUICK QUACK CAR WASH Main Building: 51,157 SF Building Pad: 2,841 SF Sizes: Land Lease: 0.78 AC

Current 36.3% Occupancy:

Traffic Over 48,000 AADT (2017) Count:

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40,000 STUDENTS

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33,000 STUDENTS

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2nd Highest Traffic Count in all Utah County

State Street (48,000 AADT 2017)

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Investment Summary > ANCHOR TENANTS

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Gateway Plaza Site Plan

1720 North

Vacant

Quick Quack Rancho Markets

Amigos Insurance Amigos Huarache Sabroson Huarache El Dorado Fashion Dorado El Car Wash Ether Gaming

Elegant Salon State Street (48,000 AADT 2017) Storage (Vacant) Electra

Get Thrifty

Opportun Fast Wireless

Fusian Asian Grill

Title Max

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Rent Roll

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American Fork / Pleasant Groverove

NEW SALT LAKE CITY AIRPORT (2020)

Eagle Mountain Orem / Lindon

SILICON SLOPES: UTAH’S TECH CORRIDOR AND THE HEART OF UTAH’S TECH JOB GROWTH, #1 IN THE NATION Provo

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Source: ©2018 Esri.

October 22, 2018

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Photos

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Utah’s Growth and Silicon Slopes > IN THE NEWS • Inc Magazine (2018): 2nd Best Metro in America to Start a Business Mormons, skiing, and a herd of tech unicorns have colonized Silicon Slopes, the region with the greatest volume of high-growth companies...In recent years, the region has added five new startups valued at more than $1 billion each, including education platform , smart-home equipment maker , and data analytics firms InsideSales.com, Domo, and .

• Salt Lake Tribue (2018): Utah ranks No. 1 for population growth this decade Utah ranks No. 1 among the states for its population growth rate this decade — thanks to its high birthrate plus a strong economy that attracts people from other states and abroad.

• KSL.com (2018): Utah’s Tech Industry is No. 1 Fastest Growing For starters, Utah’s tech industry grew faster last year than any other state in the nation with a 3.6 percent increase in tech industry jobs from 2016 to 2017, according to a new report from the Computing Technology Industry Association.

• Salt Lake Tribure (2018): What does the $8 billion deal for Utah’s Qualtrics mean for Silicon Slopes? “We build companies that stand up against anyone in the world,” said Clint Betts, executive director of Silicon Slopes, the nonprofit collective of firms and government officials representing Utah’s tech “ecosystem” centered on the I-15 stretch linking Salt Lake and Utah counties.

• Salt Lake Tribune (2018): Utah County No. 2 for job growth and No. 6 for wage increases Utah County ranks No. 2 in the nation for job growth — with an increase of more than three times the national rate, new federal data show. It also ranked No. 6 for wage increases.

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Utah’s Growth and Silicon Slopes > IN THE NEWS • ComputerWorldUK (2018): Utah’s four SaaS unicorns come of age As Skonnard put it: “In Utah the thing that’s different is that all of these tech companies are committed to the greater good of Utah and our community there. So while we are all really competitive and fight for the best talent, we are still unified in our collective commitment toaking m Utah a better tech ecosystem and that is what brings us together and aligns us and that is really unique, I haven’t seen that in any other place.”

• Inc Magazine (2018): Move Over Boulder: This Ski Slope City is Becoming a Booming Startup Scene Salt Lake City and the surrounding area, home of , is most famous for being the world headquarters of the Mormon church. But this little-known Western tech hub is also churning out fast-growing companies.

• Forbes (2018): Utah No. 2 Best State For Business in 2018 Utah moves up one place to finish second. Utah’s tech prowess was highlighted this month when German tech giant SAP announced a deal to purchase Provo-based cloud unicorn Qualtrics, one of the leaders of the state’s startup and tech community known as Silicon Slopes. Utah tech companies are aided by energy costs 15% below the national average, per Moody’s Analytics. The state’s employment growth is tops in the nation over the past five years, and research firm Emsi forecasts annual job gains of 2.2% through 2022, also the highest for any state.

• Tax Foundation (2018): Utah named 3rd best tax climate for property taxes in 2019 Utah ranked No. 8 overall on the 2019 State Business Tax Climate Index, and was No. 3 for property taxes.

Gateway Plaza | Offering Memorandum COLLIERS INTERNATIONAL P. 14 1700 North State Street | Provo, UT 84604 Offering Memorandum GATEWAY PLAZA

Rawley Nielsen Darren Nielsen Colliers International +801 441 5922 +1 801 448 2662 111 Main Street | Suite 2200 [email protected] [email protected] Salt Lake City, UT 84111 P: +1 801 947 8300