INVESTMENT OPPORTUNITY FOR SALE MARKETING FLYER

PIERPONT CENTRE RETAIL / RESTAURANT INVESTMENT 849, 869 VENTURE DRIVE • MORGANTOWN, WV 26508 I-68 EXIT 7

LOWE'S 901 VENTURE DRIVE

RETAIL BUILDING 869 VENTURE DRIVE

RESTAURANT BUILDING MICHAEL'S BOOKS-A-MILLION 849 VENTURE DRIVE 801 VENTURE DRIVE 720 VENTURE DRIVE

HOLIDAY INN EXPRESS 605 VENTURE DRIVE

RUBY TUESDAY IHOP 512 VENTURE DRIVE 201 VENTURE DRIVE

CLEAR MOUNTAIN BANK 102 VENTURE DRIVE WENDY'S 306 VENTURE DRIVE

PIERPONT CENTRE RETAIL / RESTAURANT INVESTMENT 849, 869 VENTURE DRIVE • MORGANTOWN, WV 26508 INVESTMENT OVERVIEW 02 Introduction of the property including specifications of the buildings, utilities, ingress/egress and parking and legal descriptions. TENANT OVERVIEW - WVU MEDICINE 08 WVU Medicine and Family Dollar information/credit strength as tenants. 869 VENTURE DRIVE - WVU MEDICINE 10 Detailed descriptions of the WVU Medicine space with a floor plan and interiorphotos of the building. TENANT OVERVIEW - FAMILY DOLLAR 14 Family Dollar information/credit strength as tenants. 869 VENTURE DRIVE - FAMILY DOLLAR 16 Detailed descriptions of the Family Dollar space with a floor plan and interior photos of the building. 869 VENTURE DRIVE - EDIBLE ARRANGEMENTS 18 Detailed descriptions of the Edible Arrangements space with a floor plan and interior photos of the building. 869 VENTURE DRIVE - COFFEE & TANNING 20 Detailed descriptions of the Coffee & Tanning space with a floor plan and interior photos of the building. 869 VENTURE DRIVE - NV NAILS 22 Detailed descriptions of the NV Nails space with a floor plan and interiorphotos of the building. 869 VENTURE DRIVE - CRICKET WIRELESS 24 Detailed descriptions of the Cricket Wireless space with a floor plan and interior photos of the building. 849 VENTURE DRIVE - FUJIYAMA 26 Detailed descriptions of the Fujiyama space with a floor plan and interior photos of the building. LOCATION OVERVIEW 28 Detailed description/aerial photo of the property and its proximity to surrounding businesses and locations. AREA DEMOGRAPHICS 32 Detailed stats for the surrounding subject location. AERIAL PHOTOS 34 Aerial photos of the property from different heights and angles.

Financial information is available upon request and receipt of a signed Confidentiality & Disclosure Agreement. To obtain this agreement, contact Black Diamond Realty. INVESTMENT OVERVIEW

PIERPONT CENTRE RETAIL / RESTAURANT INVESTMENT 849, 869 VENTURE DRIVE • MORGANTOWN, WV 26508

• 849 Venture Drive - Restaurant Building - 6,000 SF • 869 Venture Drive - Retail Building - 69,670 SF

SALE PRICE / $7,850,000 TOTAL NUMBER OF ASSETS / 2 GROSS BUILDING SIZE / 75,670 SQ FT GROSS ACREAGE / 8.42 ACRES CREDIT TENANTS / WVU MEDICINE & FAMILY DOLLAR

Black Diamond Realty is pleased to present Pierpont Centre Portfolio, a retail/restaurant investment asset in Morgantown, West Virginia. This asset offers two commercial buildings with seven fully leased spaces totaling 75,670 (+/-) square feet on 8.82 acres. Price Cutter, the national grocery store chain which is located adjacent to the asset, recently signed a long term renewal. Located outside of city limits, the subject property is positioned within the Pierpont Centre Plaza. The plaza is located in a heavily commercial influenced area just off of I-68, Exit 7 (Pierpont).

02 PIERPONT CENTRE • MORGANTOWN, WV RECENTLY SIGNED LONG TERM RENEWAL

Google Aerial of Pierpont Centre Facing North

BLACK DIAMOND REALTY 03 LOCATION BUILDING SPECIFICATIONS The subject property is located within the Pierpont Centre, a stabilized com- The subject property consists of one commercial inline building having a total mercial plaza anchored by Lowe's, Michaels, Price Cutter, Books-A-Million of six rental spaces and one free standing building that is currently being and more. The property is positioned in a heavily commercial influenced area utilized as a restaurant. The restaurant building is addressed as 849 Venture at the Pierpont Exit (7) of I-68. Both the east and west side of the interstate Drive and contains a total of 6,454 (+/-) square feet. Net leasable area is noted have experienced heavy commercial build-up which is still growing to date. as 6,000 square feet. The two-story retail building is addressed as 869 Venture Morgantown, WV offers seven interstate exits. Four exits are located along Drive and contains a total of 70,084 (+/-) square feet or 35,042 (+/-) square I-68 and three exits are located along I-79. Out of the four exits off I-68, Exit feet per floor. Net leasable area for this building is 69,670 (+/-) square feet. 7 (Pierpont Road) boasts the highest concentration of big box retailers, chain The buildings were constructed in 2006-2007. The frame of building 849 is restaurants, and strong demographics. masonry with brick veneer and a Dryvit finish. The building has a front entry air lock with fixed plate glass in metal frames. The roof is shed style and slops UTILITIES to the back having a rubber roof cover. 869 is a two-story structure serviced This site offers all public utilities, which include the following: by both a passenger elevator and a freight elevator. The building is concrete block construction with steel columns supporting a steel web truss deck for UTILITY PROVIDER both the second floor and roof system. Decking is Q deck with a concrete Electric Mon Power floor. The exterior is painted, spilt face block and Dryvit. Windows are also Natural Gas Mountaineer Gas Company fixed pane glass in metal frames. Roofing is a rubberized material. Water Morgantown Utility Board (MUB) 869 has four rental units in the right lower level with Family Dollar occupying Sewer Morgantown Utility Board (MUB) the rental unit on the left. The building is centred by WVU Medicine who Trash Republic Services occupies space on the lower level and all of the upper level. The building has all separate meter areas and lines beyond the meter. The 869 building has a Cable/Internet Comcast sprinkler system and fire alarm system. This building also has three phase electric. Each unit also has its own central HVAC system. The four smaller INGRESS / EGRESS / PARKING units have heat pumps locate din the back of each rental space. The remaining The Pierpont Center offers roughly 900 feet of elevated frontage along I-68 and units are roof mounted with condensers located on the ground in the rear 1500 feet of elevated frontage along Route 857 (Cheat Road). The plaza offers of the buildings. one point of ingress and egress along Cheat Road via signalized intersection. The plaza offers an abundance of parking for customers and tenants, however 92 parking spots are available within the subject property parcel. LEGAL DESCRIPTION The property is comprised of one parcel containing a total of 8.42 acres. The property is identified as Union District, tax map 20D, parcel 1.17. This can be referenced in Deed Book 1305, Page 608.

04 PIERPONT CENTRE • MORGANTOWN, WV PARCEL OVERVIEW

BLACK DIAMOND REALTY 05 Subject Asset - Retail Building

06 PIERPONT CENTRE • MORGANTOWN, WV Subject Asset - Restaurant Building Plaza Anchor Tenant - Lowe's

Plaza Tenants - Retail Strip Plaza Tenants - Retail Strip

BLACK DIAMOND REALTY 07 TENANT OVERVIEW

ABOUT WVU MEDICINE "WVU Medicine unites the clinical and research faculty of the West Vir- "The stable outlook reflects our expectation that near-term financial ginia University Health Sciences Center with the hospitals, clinics, and performance will continue to show favorable and improving results, 1 health professionals of the West Virginia University Health System." although thinner than historic levels. There is no expectation for "Together, they are a national leader in patient safety and quality, and additional leverage beyond [the $205.805 million HRI Bonds and Series 3 are unified and driven by a passion to provide the most advanced 2018A&B&C&E bonds]." healthcare possible to the people of West Virginia and beyond. WVU "In 2016, Standard and Poor’s assigned WVUHS an A rating and stable Medicine includes the physicians, specialists, and sub-specialists of the outlook related to its 2016A fixed rate bonds, affecting $258 million."2 West Virginia University School of Medicine; the affiliated schools of the WVU Health Sciences Center; four community hospitals; three crit- WVU HEALTH SYSTEM IS ical access hospitals; and a children’s hospital, all anchored by a 690- bed academic medical center that offers tertiary and quaternary care." 1 RATED A2 BY MOODY'S. WVU MEDICINE CREDIT STRENGTH "On June 15, 2018, Moody’s Investors Service assigned an A2 to West WVU HEALTH SYSTEM IS Virginia United Health System. The rating outlook is stable. The action affects approximately $1.2 billion of debt in aggregate." 3 RATED A BY S&P. "WVUMedicine, is the largest healthcare system in the State of West Virginia, anchored by the J.W. Ruby Memorial Hospital in Morgantown. SOURCES The System consists of an academic medical center, 4 community hospi- Please see the Rating Methodologies page on www.moodys.com for a copy of Moody’s methodology. For the full analysis and report, view link number 3. tals and 3 critical access hospitals with 1,625 licensed beds. The Sys- 1 - http://wvumedicine.org/about/ tem also manages a community hospital in Maryland and has a formal 2 - https://www.beckershospitalreview.com/finance/s-p-assigns-a-rating-to-west-virginia-united- affiliation agreement with a community hospital in West Virginia. The health-system-s-bonds.html 3 - https://www.moodys.com/credit-ratings/West-Virginia-United-Health-System-credit-rat- System provides the full range of services from primary to quaternary ing-806684509 care, including skilled nursing, psychiatric and rehabilitation services, supported by an active graduate medical education program." 3

08 PIERPONT CENTRE • MORGANTOWN, WV WVU MEDICINE LOCATIONS - 2017

BLACK DIAMOND REALTY 09 RETAIL - WVU MEDICINE FLOOR PLAN Located between Family Dollar and Edible Arrangements, the WVU Medicine space is comprised of 55,000 (+/-) total square feet across two floors. This suite has been highlighted in blue in the floor plans to the right. The bottom floor offers 19,958 (+/-) square feet while the top floor offers 35,042 (+/-) square feet. The space offers one main entrance at the front of the store via double retail glass doors and two additional exits, one being on the side of the building and one being at the back of the building. The first floor consists of a large open retail area, three small storage rooms, a large unfinished storage area with garage door/ loading dock, two offices, two restrooms, a passenger elevator and freight elevator. There is a large staircase at the back of the space which also offers access to the second floor. The second floor consists of a large open retail area, two kitchenettes, large open storage room, 1ST FLOOR a small storage closet, two restrooms and a utility room where the roof can be accessed. Finishes the space include drywall walls, drop ceilings, carpet flooring, and fluorescent lighting.

10 PIERPONT CENTRE • MORGANTOWN, WV 2ND FLOOR

BLACK DIAMOND REALTY 11 Lower Level Main Entrance Lower Level Facing the Back of the Space

Lower Level Facing the Staircase Lower Level Storage Area with Freight Elevator and Garage Door

12 PIERPONT CENTRE • MORGANTOWN, WV Upper Lever View from the Staircase Upper Level Kitchen

Upper Level View Upper Level View at the Front of the Space

BLACK DIAMOND REALTY 13 ABOUT FAMILY DOLLAR Family Dollar is a chain of discount retailers. Dollar Tree recently ac- quired Family Dollar, Inc. in July 2015. Together they are considered the nation’s largest small-box discount retailer, operating over 14,000 stores nationwide. Family Dollar operates under a landlord friendly net lease structure. As a result, freestanding Family Dollar retail stores FAMILY DOLLAR IS provide an attractive combination of a long-term lease and a growing market concept that continues to capture value conscious shoppers, which boosts store productivity. 1 RATED Baa3 BY MOODY'S. The average size of a Family Dollar store is between 6,000 and 8,000 FAMILY DOLLAR IS square feet, and most stores are operated in leased facilities. This relatively small footprint allows the company to open new stores in rural areas and small towns, as well as in large urban neighborhoods. RATED BBB- BY S&P. A general floor plan used in each of the stores allows customers to easily shop for their favorite products in any Family Dollar store. With the stores uniformly laid out and stocked, store managers are able to AVERAGE CAP RATE OVER THE PAST 12 MONTHS focus on providing good customer service. This concept for a self- serve, cash-and-carry neighborhood discount store in low to middle income neighborhoods proves so successful that today Family Dollar is a chain with over 8,000 stores from Maine to California. 1 With locations across 48 states, Family Dollar retail stores allow investors to evaluate property in metropolitan and rural settings. Family Dollar has been trading at a higher cap rate than its counterparts The typical Family Dollar net lease is 15 years with successive option as well as the STNL average. 2 periods of five (5) years each. The lease also includes rent increases of 10% every five (5) years and during the options. The Family Dollar SOURCES net lease typically requires minimal responsibilities from the landlord, - https://www.netleaseadvisor.com/tenant/family-dollar/ limited only to roof & structural maintenance while the tenant is re- 1 2 - https://www.calkain.com/research_reports/tenant-profile-family-dollar/ sponsible for insurance, taxes and all other maintenance and repairs. 1 Recently, Family Dollar has offered sale leaseback with 15-year NNN MAP 3 - https://www.scrapehero.com/store-locations/family-dollar-locations-analysis-download/ leases along with build-to-suit programs that are structured as 15-year absolute NNN leases with 10% rent increases in year 10 or every five (5) years. 1

14 PIERPONT CENTRE • MORGANTOWN, WV FAMILY DOLLAR LOCATIONS

Family Dollar has a total of 8,192 stores across U.S. as of April 2019. Texas has the largest number of Family Dollars with 1,083 stores. West Virginia has a total of 131 stores. Bordering states have the following number of stores; Pennsylvania: 316, Ohio: 472 stores, Virginia: 241 and Kentucky: 216. 3

BLACK DIAMOND REALTY 15 RETAIL - FAMILY DOLLAR FLOOR PLAN Located at the end of the retail building beside WVU Medicine, the Family Dollar space (Suite 600) is comprised of 8,745 (+/-) total square feet. This suite has been highlighted in blue in the floor plan below. The space offers one main entrance at the front of the store via double retail glass doors and one additional exit at the back of the store. The floor plan consists of a vestibule with two single restrooms and two offices and a large open retail area. Finishes the space include drywall walls, drop ceilings, vinyl tile flooring, and fluorescent lighting.

16 PIERPONT CENTRE • MORGANTOWN, WV Family Dollar Retail Area Family Dollar Retail Area

Family Dollar Retail Area Family Dollar Retail Area

BLACK DIAMOND REALTY 17 RETAIL - EDIBLE ARRANGEMENTS FLOOR PLAN Located within the retail building between WVU Medicine and Coffee & Tanning is Edible Arrangements (Suite 400). This suite has been highlighted in blue in the floor plan below. This space is comprised of 1,513 (+/-) total square feet and offers one entrance at the front of the store via double retail glass doors. The floor plan consists of a open retail area, large kitchen, office, walk in freezer, storage room and private restroom. Finishes the space include drywall walls, drop ceilings, tile flooring, and fluorescent lighting.

18 PIERPONT CENTRE • MORGANTOWN, WV Edible Arrangements Retail Area Edible Arrangements Retail Area

Kitchen Facing the Back of the Store Kitchen Facing the Front of the Store

BLACK DIAMOND REALTY 19 RETAIL - COFFEE & TANNING FLOOR PLAN Located within the retail building between Edible Arrangements and NV Nails is Coffee & Tanning (Suite 300). This suite has been highlight- ed in blue in the floor plan below. The space is comprised of 1,600 (+/-) total square feet and offers one entrance at the front of the store via double retail glass doors. The floor plan consists of a open retail area with coffee bar, hot spot room, three tanning rooms a back office/storage room and two single restrooms. Finishes the space include drywall walls with a wooden chair rail, drop ceilings, tile flooring, and a combination of recessed, fluorescent and wall lighting fixtures.

20 PIERPONT CENTRE • MORGANTOWN, WV Coffee & Tanning Retail Area

BLACK DIAMOND REALTY 21 RETAIL - NV NAILS FLOOR PLAN Located within the retail building between Cricket Wireless and Cof- fee & Tanning is NV Nails (Suite 200). This suite has been highlighted in blue in the floor plan below. This space is comprised of 1,312 (+/-) total square feet and offers one entrance at the front of the store via double retail glass doors. The floor plan consists of a large open retail area, two offices, a storage closet and restroom. Finishes the space include drywall walls, drop ceilings, tile flooring, and a combination of fluorescent and track lighting fixtures.

22 PIERPONT CENTRE • MORGANTOWN, WV NV Nails Retail Area

BLACK DIAMOND REALTY 23 RETAIL - CRICKET WIRELESS FLOOR PLAN Located within the retail building in the end space is Cricket Wireless (Suite 100). This space has been highlighted in blue in the floor plan below. This space suite comprised of 1,500 (+/-) total square feet and offers one entrance at the front of the store via double retail glass doors. The floor plan consists of a large open retail area, office, storage room and restroom. Finishes the space include drywall walls, drop ceilings, carpet flooring and a combination of fluorescent and track lighting.

24 PIERPONT CENTRE • MORGANTOWN, WV Cricket Wireless Retail Area

BLACK DIAMOND REALTY 25 RESTAURANT - FUJIYAMA FLOOR PLAN Located adjacent to the retail building, the restaurant building offers a total area with full bar, two private dining rooms, a full kitchen, two small offices, of 6,454 (+/-) square feet. 6,000 (+/-) square feet is marketed as leasable. The storage room, two restrooms and a walk in freezer. building is one-story and offers one main entrance at the front of the building Finishes the space include drywall walls, drop ceilings, a combination of tile, with two additional exits on either side of the building. The floor plan consists carpet and laminate wood like flooring with recessed and hanging light fixtures. of a large open waiting area, sushi bar, hibachi dining area, traditional dining A large stone coy pond fountain is centred in the waiting area.

26 PIERPONT CENTRE • MORGANTOWN, WV Main Entrance Waiting Area Facing Hibachi Dining Area

Traditional Dining Area Hibachi Dining Area

BLACK DIAMOND REALTY 27 LOCATION OVERVIEW

LOCATION GROWTH / STATS Monongalia County lies in north central West Virginia with Morgantown as the county seat and home of West Virginia University. Morgantown’s prominence in both higher education and healthcare employment is one reason for the stability in the area. The WVU Bureau of Business and Economic Research calls for “continued healthy growth” well into the future. View the 2018-2022 North Central West Virginia Economic Outlook by using the link below. PIERPONT CENTRE

POPULATION

2018 Morgantown MSA Population 138,900 1 HOUSING

2018 Morgantown MSA Median Household Income $52,208 1 MEDIAN AGE

2018 Morgantown MSA Job Growth Up 1.7% 1

SOURCES 1 - https://www.forbes.com/places/wv/morgantown/ 2018-2022 North Central West Virginia Economic Outlook - https://business.wvu.edu/files/ d/124d5862-affe-43fa-994c-ee9e8ed69c29/north-central-wv-economic-outlook-2018-2022.pdf Distance to nearby cities: Fairmont, WV - 22 miles, Uniontown, PA - 23 miles, Bridgeport, WV - 37 miles, Washington, PA - 55 miles, Wheeling, WV - 88 miles, Pittsburgh, PA - 76 miles, Charleston, WV - 159 miles.

28 PIERPONT CENTRE • MORGANTOWN, WV MAJOR LOCAL EMPLOYERS

• Fall enrollment for WVU in 2018 has remained steady at 31,000 students • Mylan is a global pharmaceutical company committed to setting new and full-time and part-time faculty and staff has increased to over 8,100. 2 standards in healthcare and providing 7 billion people access to high 4 • Among its 14 colleges, WVU’s Morgantown campus offers more than 300 quality medicine. majors and hundreds of distance education and online classes. 3 • Mylan has 40+ manufacturing facilities. 4 • WVU has produced 25 Rhodes scholars, 23 Truman scholars, 59 Fulbright • Mylan has a global workforce of 35,000 employees. 4 scholars, 45 Goldwater scholars, and 26 Boren scholars. 3

• J.W. Ruby Memorial Hospital, the largest facility in the WVU Hospitals family, • Mon Health Medical Center is a 189-bed general, acute care hospital in provides the most advanced level of care available to the citizens of West Morgantown, WV. It is the flagship member of Mon Health, an integrated Virginia and bordering states. 5 healthcare delivery system offering a full range of services. 8 • Home to WVU Medicine Children’s, Jon Michael Moore Level 1 Trauma Center, several clinical programs, and the West Virginia University health schools. 6 • Rated "Best Regional Hospitals" by U.S. News & World Report in 2018-19. 7

2 - https://www.wvu.edu/about-wvu/wvu-facts 4 - https://www.mylan.com/en/about-mylan 3 - https://www.forbes.com/colleges/west-virginia-university/ 8 - https://www.mongeneral.com/main/about-mon-health-medical-center 5 - https://wvumedicine.org/about/hospitals-and-institutes/ 6 - https://wvumedicine.org/ruby-memorial-hospital/ 7 - https://wvumedicine.org/ruby-memorial-hospital/about-us/

BLACK DIAMOND REALTY 29 SURROUNDING AMENITIES

The aerial photo to the right captures the Pierpont Centre in relation to surrounding retail, restaurants, hotels and office uses. This location is 18 within close proximity to many amenities which make the site a desirable 25 34 location. The businesses in the following list correspond with the locations on the aerial photo on the following page. The immediate area boasts a wide variety of big box and specialty retailers, local and national chain 19 restaurants and hotels. 26 35

1 7 13 20 27 36

2 8 37 21 28 14 9 3 22 38 29

4 10 15 23 30

39 16 32 5 11 24

17 33 40 6 12

30 PIERPONT CENTRE • MORGANTOWN, WV The aerial above captures Pierpont Centre, Price Cutter Holiday Inn Express Urse Dodge Ram Mon Health Wedgewood Chrysler and Fiat I-68, Exit 7 and the surrounding locations. Lowe’s BFS/Subway/Little Planet Fitness Michaels Caesars of Morgantown The subject buildings at 849 and 869 Venture Fort Pierpont Shopping Pier 1 Imports Clear Mountain Bank Flying Fish & Co Center, Fox's Pizza, The Drive have been referenced with yellow stars. Books-A-Million IHOP Metro Property Nail C.E.O Surrounding businesses have been highlighted Management Express Employment Ruby Tuesday McDonald’s Apple Annie's Professionals in the aerial above and correspond with the Super 8 United Bank Mid Atlantic Market/ McClellan Plastic Surgery numbers on the previous page. Outback Steakhouse Smokin' Jacks Sunoco Gas Station MMS Endodontics Specialists Bob Evans Exxon/Taco Bell Mine Safety and Health The Farmhouse Cafe Wendy’s Huntington Bank Administration Coombs Farm Estates Talobots/Touchdown Ferguson Plumbing Supply WVU Healthcare Cheat Heiskell Automotive Home Pros Lake Physicians Mace Dental BB&T Bank Foxwood BLACK DIAMOND REALTY 31 MORGANTOWN, WEST VIRGINIA Morgantown, WV excelled during The Great Recession primarily due to its strong economic job base focused on recession-resistant employment opportunities in the education, healthcare, and government sectors. Morgantown has received national recognition for its high quality of life and economic stability. Morgantown has been featured nationally in various media outlets over the past decade for its strong economy.

32 PIERPONT CENTRE • MORGANTOWN, WV AREA DEMOGRAPHICS

0-5 MINUTE DRIVE OF SUBJECT LOCATION 2,168 $45,710 201 $32,941 2,157 Population Median Household Income Total Businesses Per Capita Income Total Employees

5-7 MINUTE DRIVE OF SUBJECT LOCATION 6,903 $51,311 395 $33,325 5,577 Population Median Household Income Total Businesses Per Capita Income Total Employees

7-10 MINUTE DRIVE OF SUBJECT LOCATION 28,731 $48,315 1,076 $30,475 14,330 Population Median Household Income Total Businesses Per Capita Income Total Employees

BLACK DIAMOND REALTY 33 Aerial Facing East

34 PIERPONT CENTRE • MORGANTOWN, WV Aerial Facing South - Highlighting Retail Building Aerial Facing North

Aerial Facing South - Highlighting Restaurant Building Aerial Facing South

BLACK DIAMOND REALTY 35 CONTACT BLACK DIAMOND REALTY LLC

1399 Stewartstown Road, Suite 300 Mark J. Nesselroad, Broker Murphy Holloway, Associate Morgantown, WV 26505 [email protected] [email protected]

P. 304.413.4350 F. 304.599.3285 David Lorenze, Principal * All information is believed to be accurate [email protected] but not guaranteed. More information is BlackDiamondRealty.net available upon request.