Southeast Corner of Gratiot Avenue & 12 Mile Road Roseville (Northeast Suburban Detroit), MI INVESTMENT HIGHLIGHTS SUBJECT OFFERING

id-America Real Estate Corporation, in cooperation with Mid-America MReal Estate – , Inc. has been retained on behalf of the owner to sell the 100% fee simple interest in Roseville Towne Center in Roseville, Michigan.

Location: SEC Gratiot Avenue & Twelve Mile Road Roseville, MI

Traffic Counts: Gratiot Avenue (54,780 VPD) 12 Mile Road (32,050 VPD)

Subject GLA: 91,412 SF (Ground Level Retail) 65,000 SF (Second Level Available Warehouse) 156,412 SF (Total)

Lot Size: 8.008 AC

Anchors: Marshalls, CVS, Five Below, Dollar Tree

Shadow Anchors: Walmart Supercenter

Retail Occupancy: 100% KEY FEATURES

NATIONAL CREDIT ANCHORS – Roseville Towne Center is a community shopping center anchored by Marshalls, CVS (drive-thru), Five Below, and Dollar Tree. These four nationally-recognized retailers feature strong credit, and comprise almost 67% of the center’s ground level retail and 68% of its gross income. Additionally, the 179,556 square foot Walmart Supercenter (which is separately owned) provides the center with a dominant major anchor, creating a strong draw for both consumers and other retailers to the property.

DOMINANT METRO TRADE AREA – The property is situated in the heart of the Gratiot Avenue regional trade area, a 3-mile commercial corridor that runs diagonally north-south through Roseville and the neighboring community of Clinton Township to the immediate north. The strong sales performing trade area features an abundance of national retailers, and is highlighted by the Macomb Mall, the dominant regional center in the trade area, providing a high-profile anchor to the market. The Gratiot Avenue retail trade area totals almost 2.85 million square feet of space, that stands at a very healthy 95% occupancy rate.

INFILL DEMOGRAPHIC PROFILE – The suburban communities surrounding the property provide a strong population and shopping base, with a dense residential population of 308,336 people earning average household incomes of $64,506 within a 5-mile radius of Roseville Towne Center. The asset is situated in southern Macomb County, the third-largest county in Michigan, just 18 miles northeast of downtown Detroit.

OPTIMAL ACCESSIBILITY – Ideally positioned at the southeast corner of Gratiot Avenue (54,780 VPD) and 12 Mile Road (32,050 VPD), Roseville Towne Center sees outstanding combined daily traffic counts. The center benefits from its proximity to I-94 and I-696, two of Detroit MSA’s primary interstates. The nearest interchange for I-94 is located less than one-mile east of the center. Located one-mile south is I-696’s interchange with Gratiot Avenue, which connects the city’s northeastern suburbs with all points of interest further west throughout Detroit MSA.

$ LEVERAGED RETURNS – The property is being offered “free and clear” of any existing debt, providing an excellent opportunity for a buyer to finance the transaction at today’s market rates.

DEMOGRAPHIC PROFILE WITHIN 3-MILE RADIUS:

POPULATION HOUSING UNITS MEDIAN HOME VALUE DAYTIME POPULATION AVERAGE HH INCOME ESTIMATED 5-YEAR POPULATION GROWTH 131,290 55,008 $106,069 119,255 $61,621 2.1% Available 2nd Floor Warehouse LEASING PLAN (WH2)

Florence Street

0.89 AC Development Site

drive-thru

(NAP) C100

D100 B102 C104 MAC-C C118

pylon

OUT-B

(NAP) Massachusetts Street Gratiot Avenue (54,780 VPD) pylon

12 Mile Road (32,050 VPD)

Tenant Name Unit Square Feet Tenant Name Unit Square Feet Five Below B102 11,777 CVS D100 11,856 CATO C100 4,046 Mobil Gas Station OUT-B 1,529 The Palace Beauty Supply C104 24,493 Second Level Warehouse WH2 65,000 Marshalls MAC-C 25,000 Total 156,412 Dollar Tree C118 12,711 LOCATION & MARKET • Roseville Towne Center is positioned in the city of Roseville in southern Macomb County, which is approximately 18 miles northeast of downtown Detroit. With a population of approximately 841,000, Macomb County is the third-largest county in the state of Michigan. It is one of 6 counties comprising the Detroit Metropolitan Statistical Area (MSA), which is the 14th largest metropolitan area in the United States, with a population of approximately 4.3 million people.

• The trade area has an expanded consumer reach due to its easy accessibility from other communities in the Detroit MSA because of its centralized location along I-94 and I-696. I-94 (which travels north and south through the city) and I-696 (which runs east and west) provide residents and businesses with direct access to the rest of the greater Detroit area.

• The subject property’s trade area consists of 3.1 million square feet of retail space at a healthy 94% occupancy rate. Roseville Towne Center’s regional trade area is anchored by the Macomb Mall, located 1.5 miles north of the center, which has been the largest and most prominent retail center in the Gratiot Avenue regional trade area for over 50 years. The mall is anchored by Kohl’s, At Home, Hobby Lobby, Dick’s Sporting Goods, Old Navy, Ulta, and H&M, and recently underwent a $25 million renovation. Complementing Roseville Towne Center’s tenancy is a wide array of national, category killer retailers such as Sam’s Club, Home Depot, Target, Meijer, JCPenney, Bed Bath & Beyond, Best Buy, TJ Maxx, DSW, Kroger Marketplace, and Lowe’s, amongst others.

• The Gratiot Avenue trade area has continued to have its regional prominence and market strength enhanced recently. The recent revitalization of the Macomb Mall stands in contrast to the significant decline of its next nearest competitor, Eastland Center. The Eastland Center regional mall is located approximately 8 miles south of the Gratiot Avenue trade area. Major tenants at Eastland Center are Lowe’s and Home Depot. The interior mall has suffered occupancy issues since the closure of its 160,000 square foot anchor Sears in 2012, Macy’s in 2017, and Target and Burlington in 2018. The Gratiot corridor has benefitted from the retailer and consumer flight to the subject market. Columbiaville Yale Grant DEMOGRAPHIC PROFILE Beecher Lapeer The following demonstrates the infill, middle income nature of the customer Flint Capac base surrounding Roseville Towne Center. Moderate population growth of Burton 2.1% is expected over the next five years within a 3-mile radius. The center ¦¨§69 enjoys a strong daytime customer base of 119,255.

Lake Fenton MACOMB COUNTY Armada Fenton Richmond Distance from Subject: 1 mile 3 miles 5 miles Holly 2017 Population 18,169 131,290 308,336 New Haven Forecasted 2022 Population 18,691 134,076 313,913 ¤£23 Waterford % Change 2017 to 2022 2.9% 2.1% 1.8% Sterling Heights 2017 Households 7,580 55,008 128,320 Pontiac Clinton Township Algonac Forecasted 2022 Households 7,797 56,250 130,825 Bloomfield Hills % Change 2017 to 2022 2.9% 2.3% 2.0% Birmingham Troy Fraser Brighton 2017 Median Home Value $86,033 $106,069 $114,916 Farmington Hills 2017 Daytime Demographics 15,038 119,255 270,852 Royal Oak Novi Roseville 2017 Average Household Income $51,968 $61,621 $64,506 2017 Median Household Income $43,033 $50,605 $51,539 Northville Livonia 2017 Per Capita Income $21,873 $25,973 $27,066 Lake St Clair 2017 Median Age 39.4 42.1 42.2

Canton Tecumseh

Ann Arbor Dearborn Lakeshore

Ä Ä Ä ¦¨§275 Ä Taylor 401 401

Saline Essex £12 ¤ Milan Kingsville Linden Beach ¦¨§75 Klie's Beach Seacliffe Dundee Pigeon Bay Monroe Lake Erie SOUTHWEST FACING AERIAL PROPERTY DESCRIPTION • Roseville Towne Center was constructed in 1963 and renovated in 1995, and is comprised of 91,142 square feet of retail GLA and 65,000 square feet of second floor space, which could be leased as office or warehouse uses. The non-owned 179,556 square foot Walmart anchor was built in 2001. In 2013, they purchased a portion of the subject center in order to expand and substantially renovate this unit as a Walmart Supercenter, and has historically been a very high performer at this location.

• The shopping center is occupied by Marshalls, Five Below, CATO, Dollar Tree, CVS, The Palace Beauty Supply, as well as a freestanding outlot Mobil gas station.

• Ingress and egress for the center is available to the west of the site via two curb cuts along Gratiot Avenue, as well as north of the site via five curb cuts along East 12 Mile Road.

• The offering includes a 0.89 acre outlot adjacent to CVS along Gratiot Avenue, available for development or sale. TENANCY • The ground level retail of Roseville Towne Center is 100% leased, with a majority of its tenancy composed of national retail anchors such as Marshalls, Dollar Tree, CVS (drive-thru), and Five Below. These four tenants comprise roughly 67% of the center’s 91,142 square feet of retail and 68% of its gross income. Additionally, the center features an excellent weighted average lease term of over 6 years, providing investors with long-term stability.

• The subject offering provides a value-add opportunity through potentially spinning off the Mobil Gas Station outlot, which is situated on a separate tax parcel, and recently executed a 10-year extension. Additional upside is provided by leasing the second level space (currently carrying minimal slippage), and developing the available outlot along Gratiot Avenue.

• The shopping center is anchored by a separately owned Walmart, which is the largest discount store retailer in the United States. The next closest Walmart location to the shopping center is 7 miles west, in Warren.

• Roseville Towne Center has experienced recent leasing velocity with the addition of The Palace Beauty Supply on a fresh 10-year term, and the renewals of Dollar Tree (10 years), Mobil (10 years), and CATO (5 years).

FINANCIAL Roseville Towne Center is being offered “free and clear” of any existing debt, allowing a purchaser to take advantage of the current debt financing climate.

In-Place Net Operating Income: $1,011,799 The Wrigley Building Ben Wineman Carly Gallagher 38500 Woodward Avenue, Suite 100 Daniel Stern 410 North Michigan Avenue, Suite 1100 Principal Vice President Bloomfield Hills, Michigan 48304 (Licensed MI Broker) Chicago, Illinois 60611 Direct: 630.954.7336 Direct: 630.261.6944 Direct: 248.855.6800 Direct: 248.855.6800 Direct: 630.954.7300 [email protected] [email protected] [email protected]

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.