NET LEASE INVESTMENT OFFERING

FAMILY DOLLAR 1110 S Philo Road Urbana, Illinois 61801 TABLE OF CONTENTS

TABLE OF CONTENTS

I. Executive Profile II. Location Overview III. Market & Tenant Overview Executive Summary Photographs Demographic Report Investment Highlights Aerial Market Overview Property Overview Site Plan Tenant Overview Map

NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT

DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. STATEMENT: It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY

EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant net leased Family Dollar property SUMMARY: located in Urbana, Illinois. Family Dollar is committed to this location as evidenced by their long operating history at this location and a recent five-year lease renewal. The lease features a low rent ($8.39 PSF) for Family Dollar and four additional 5-year renewal options with a 10% increase in each option. Family Dollar is a wholly owned subsidiary of Dollar Tree, a publicly traded company on the Nasdaq Stock Market (Symbol: DLTR) and the largest single-price-point retailer in North America. Dollar Tree's credit rating is investment grade (Moody’s: Baa3).

The 9,180 square foot property is located 1.5 miles east of the University of Illinois at Urbana–Champaign. The University of Illinois Urbana–Champaign is a public research and the flagship institution of the University of Illinois System. As of spring 2018, the university had 45,813 students. There is also 77,983 people living within 3 miles of the property. Other retailers near the Family Dollar property include Meijer, Walmart Supercenter, Walgreens, CVS, Schnucks, Chase, PNC and numerous restaurants. Additionally, the Family Dollar property is located near Carle Foundation Hospital, a large 413 bed hospital which has been named America’s 50 Best Hospital Award for the last 3 years by Healthgrades.

Family Dollar offers both name-brand and generic merchandise including off-brand goods and closeouts of name-brand items. Although it has the word dollar in the name, Family Dollar is not a dollar store. Many of its offerings are priced at more than one dollar. Family Dollar was acquired by Dollar Tree in 2015 for a total of $9.1 billion. Dollar Tree, a Fortune 200 Company, operates 14,835 stores across 48 states and five Canadian provinces.

NET LEASE INVESTMENT OFFERING INVESTMENT HIGHLIGHTS

INVESTMENT • Tenant is a wholly owned subsidiary of Dollar Tree, a publicly traded company (Nasdaq: DLTR) and the HIGHLIGHTS: largest single-price-point retailer in North America

• Dollar Tree is an investment grade rated tenant (Moody’s: Baa3)

• Low rent ($8.39 PSF)

• Located 1.5 miles east of the University of Illinois at Urbana–Champaign (45,813 students)

• Recently 5-year lease renewal showing their commitment to the location

• Long and successful operating history at the location

• 77,983 people living within a three mile radius of the property

• Located near Carle Foundation Hospital (413 Beds)

• Other retailers in the immediate area include Meijer, Walmart Supercenter, Walgreens, CVS, Schnucks, Chase, PNC and numerous restaurants

NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW

PROPERTY Price: $906,000 OVERVIEW: Cap Rate: 8.50% Net Operating Income: $77,000 Lease Expiration Date: June 30, 2023 Renewal Options: Four 5-Year Remaining Rental Escalations: 10% in each option Tenant: Family Dollar, Inc. Year Built: 2007 Lease Type: NN (Roof, Structure & Parking Lot Replacement) Parking: 47 Spaces Rentable Square Feet: 9,180 SF Lot Size: 1.39 Acres

NET LEASE INVESTMENT OFFERING PHOTOGRAPHS

NET LEASE INVESTMENT OFFERING AERIAL

NET LEASE INVESTMENT OFFERING SITE PLAN

NET LEASE INVESTMENT OFFERING MAP

NET LEASE INVESTMENT OFFERING DEMOGRAPHIC REPORT

DEMOGRAPHIC Population 1-Mile 3-Mile 5-Mile REPORT: Total Population 13,594 77,983 126,043 Total Households 6,240 29,934 51,649

Income 1-Mile 3-Mile 5-Mile

Average Household Income $64,010 $49,689 $59,894

NET LEASE INVESTMENT OFFERING MARKET OVERVIEW

MARKET Urbana, Illinois OVERVIEW: Urbana is a city in and the county seat of Champaign County, Illinois, United States. The population is estimated at 41,989 as of July 1, 2017. Urbana is the tenth-most populous city in Illinois outside of the Chicago metropolitan area. It is included in the Champaign–Urbana metropolitan area.

Urbana is notable for sharing the campus of the University of Illinois at Urbana–Champaign with its sister city of Champaign. The University of Illinois Urbana–Champaign is a public research university in the U.S. state of Illinois and the flagship institution of the University of Illinois System. Founded in 1867 as a land-grant institution, its campus is located in the twin cities of Champaign and Urbana. In fiscal year 2017, research expenditures at Illinois totaled $642 million. The campus library system possesses the second-largest university library in the United States by holdings after Harvard University. As of spring 2018, the university had 45,813 students.

Champaign-Urbana MSA, Illinois The Champaign–Urbana metropolitan area, also known as Champaign-Urbana and Urbana-Champaign, is a metropolitan area in east-central Illinois. It is the 191st largest metropolitan area in the U.S. It is composed of three counties, Champaign, Ford, and Piatt. The area has a population of 231,891 as determined by the 2010 U.S. Census. The area is anchored by the principal cities of Champaign and Urbana and is home to the University of Illinois at Urbana-Champaign, the flagship campus of the University of Illinois system.

Journalists frequently treat the metropolitan area as just one city. For example, in 1998, Newsweek included the Champaign-Urbana Metropolitan Area in its list of the top ten tech cities (outside the Silicon Valley). Champaign-Urbana also ranked tenth as one of the top twenty-five green cities in the United States, in a survey made by Country Home magazine.

NET LEASE INVESTMENT OFFERING TENANT OVERVIEW

TENANT Family Dollar OVERVIEW: Family Dollar offers a compelling assortment of merchandise for the whole family ranging from household cleaners to name brand foods, from health and beauty aids to toys, from apparel for every age to home fashions, all for everyday low prices. While shoppers can find many items at $1 or less, most items in the store are priced below $10, which makes shopping fun without stretching the family budget. The average size of a Family Dollar store is approximately 7,500 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 town, as well as in large urban neighborhoods. Within these markets, the stores are located in shopping centers or as free-standing building and all are convenient to the Company’s customer base. Family Dollar was founded in 1959 in Charlotte, North Carolina. Today, there are over 8,100 locations.

On July 6, 2015 Family Dollar was purchased by Dollar Tree for a total of $9.1 billion. Dollar Tree CEO Bob Sasser said the Family Dollar acquisition will allow Dollar Tree “to extend our reach to low-income customers, while strengthening and diversifying our footprint.” For the Family Dollar stores, Dollar Tree said that it will keep the chain’s name, and even work to expand both banners. Dollar Tree also said it will maintain Family Dollar’s headquarters.

Dollar Tree, Inc. is a publicly traded company (NASDAQ: DLTR) with a market capitalization in excess of $20 billion. Dollar Tree employs more than 176,000 people and operates 14,835 locations.

Company Website: www.familydollar.com Number of Locations: 8,100+

Parent Company Information Company Website: www.dollartree.com Stock Symbol: DLTR (Nasdaq) Market Capitalization: $20+ Billion Moody’s Rating: Baa3 (Investment Grade) Number of Locations: 14,835 Number of Employees: 176,000+/- Headquarters: Chesapeake, Virginia

NET LEASE INVESTMENT OFFERING Randy Blankstein President 847.562.0003 [email protected]

Jimmy Goodman Partner 847.562.8500 [email protected]

3520 Lake Avenue, Suite 203 Wilmette, IL 60091

www.bouldergroup.com