Absolute NNN Ground Lease Outpad to East Towne Mall CONFIDENTIALITY and DISCLAIMER

OFFERING MEMORANDUM MADISON WISCONSIN Absolute NNN Ground Lease Outpad To East Towne Mall CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure 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. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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. NON-ENDORSEMENT NOTICE Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. 53 169 61 41 2 169 53 Duluth TABLE OF CONTENTS 45 2 41 2 Michigan 63 Investment Summary .........................................1 53 141 51 Investment Highlights.........................................2 45 Minnesota Aerial Map ..................................................3 & 5 2 8 8 63 Site Plan ............................................................357 8 94 41 Tenant Summary ................................................9 141 WISCONSIN 51 Minneapolis St. Paul 53 Local Map ........................................................15 94 12 45 Bloomington Eau Claire 212 Location Highlights ...........................................17 12 61 10 169 Green Bay 35 Location Summary ...........................................19 41 52 53 Appleton 63 61 45 Demographics ..................................................14 21 94 10 Rochester 14 218 Contact Information .........................................23 90 151 43 51 41 12 90 14 45 63 52 41 69 35 90 65 61 151 14 18 94 Wauwatosa 18 Madison Milwaukee 18 18 Iowa 218 18 Waukesha West Allis 12 43 151 14 45 69 Racine 65 52 Janesville 20 94 Kenosha Waterloo Dubuque 14 20 20 90 Toll Toll Waukegan 20 69 52 Rockford Toll 35 63 61 151 Illinois Toll 380 39 Skokie 218 Elgin Evanston INVESTMENT SUMMARY 4323 E TOWNE BLVD, MADISON, WI 53704 PRICE: $4,178,571 CAP: 7.00% RENT: $292,500 OVERVIEW ANNUALIZED OPERATING DATA Price $4,178,571 Lease Term Annual Rent Gross Leasable Area (GLA) 8,156 SF Years 1-10 $292,500 Lot Size (approx) 1.83 Acres Option 1 - Years 10-15 $292,500 Net Operating Income $292,500 Option 2 - Years 16-20 $321,750 CAP Rate 7.00% Option 3 - Years 21-25 $353,925 Year Built 2014 LEASE ABSTRACT Lease Type Absolute Net Lease Term 10 Years Lease Start 02/22/2013 Lease Expiration 05/31/2024 Renewal Options 3x5 Increases 10% in options 2 and 3 Roof & Structure Tenant Responsible 1 INVESTMENT HIGHLIGHTS t $4,178,571 t The site is an out pad NNN ground lease to the areas largest concentration of retail t Located just a few miles from one of the Nations largest and best ranked public universities: University of Wisconsin-Madison t Located Down the Street from Madison Area Technical College and Dane County Regional Airport t East Towne Mall is Anchored by Sears, JC Penny, Boston Store, and Dick’s Sporting Goods and is over 839,000 sqft t Highly Populated Region with Roughly 115,000 Residents in a 5-Mile Radius 116,452 $75,327 TOTAL AVERAGE POPULATION HOUSEHOLD WITHIN 5-MILE INCOME WITHIN RADIUS 5-MILE RADIUS 39,500 VPD - U.S. HIGHWAY 151 10,100 VPD - EAGAN ROAD 5,550 VPD - E TOWNE BLVD 2 The University of Wisconsin-Madison houses a student body of 43,820, including 21,752 faculty and staff on a 936 acre campus. US HWY 151 (6.3 MILES) IVE DR IAL ON OL E C 3 4 Madison, WI AutoMall Dane County Regional Airport EAGAN RD - 10,100 VPD E TOWNE BLVD - 5,500 VPD US HWY 151 - 39,500 VPD Light Industrial (Inc’d Madison Concrete Pipe and Pumps & Equipment) 5 6 SITE PLAN INDEPENDENCE LN E TOWNE BLVD 7 8 TENANT SUMMARY RANKINGS t Four-Star rating - YELP t Four & one-half star rating - Trip Advisor DOOLITTLES WOODFIRE GRILL t Four & one-half star rating - OpenTable t The first Doolittles opened its doors in 1989 in Eagan, Minnesota. Four Star rating - Indeed.com Doolittles has steadily grown because of its commitment to its ideals and goals which are accomplished through loyal and dedicated employees. In a collaborative effort, owners Lynn Reimer and John Sheehan have led the chef-driven menu which has evolved over the years to include woodfired rotisserie cooking. Doolittles’ focus on Guest Obsession and the desire to create a dining experience for all occasions, drives the team’s creative flair which has given way to many new mouthwatering creations and seasonal specials. Using unique and fresh ingredients prepared in scratch kitchens, they reinforce “It’s about Quality” with this culinary team! DOOLITTLES MISSION It is our mission to provide you with the best quality dining experience possible. We pride ourselves in offering only the freshest ingredients, prepared to order in our scratch kitchens, and served by our attentive, knowledgeable staff. “It’s about Quality” means that we make this personal commitment to you each and every visit. With this promise, we are proud to offer you a dining experience for all occasions. It is our goal that you become a Guest for Life. DOOLITTLES VISION To win over Guests for Life, To develop Employees for Life, To be a Citizen for Life in the communities we serve. 9 10 EAST TOWNE MALL 11 11 12 DOOLITTLES WOODFIRE GRILL BLOOMINGTON, MN HEADQUARTERS 1989 5 FOUNDED LOCATIONS CASUAL PRIVATE DINING OWNERSHIP INDUSTRY LYNN JOHN REIMER SHEEHAN CFO COO 13 14 113 Token Creek 19 19 19 Waunakee 90 Sun Prairie 113 12 Westport 151 51 Ashton 113 Burke 12 90 30 94 Middleton 14 14 Shorewood 151 Hills Cottage Grove 51 MADISON Monona 90 14 18 18 18 Door Creek 14 Five Points15 18 51 McFarland 90 18 Fitchburg 16 113 Token Creek 19 19 19 Waunakee 90 Sun Prairie 113 12 Westport 151 51 Ashton LOCATION HIGHLIGHTS 113 Burke 12 90 6.3 Miles to University of Wisconsin-Madison MADISON, WI 30 HOME TO UNIVERSITY OF WISCONSIN 94 Middleton 14 14 Shorewood 151 Hills Cottage Grove 51 MADISON Monona 90 Located in heart of the Strong traffic counts & 14 region’s destination retail visibility with over 55,100 18 18with over 867,000 SF vehicles passing in front 18 of major retail Door Creek of or near the site daily 14 MAJOR EMPLOYERS: 2017 Five Points 18 MADISON, WI 51 McFarland 90 State of Wisconsin 42,514 Fitchburg 18 University of Wisconsin 21,608 University Hospitals and Clinics 9,001 Epic Systems 8,100 The region is the SSM Health Care 6,380 Madison, WI is the United States Government 5,321 consummate College Capitol of the State, Madison Metropolitan School District 3,903 Town being supported which draws many American Family Mutual Insurance Group 3,842 by the University of corporations and Meriter-UnityPoint Health 3,268 Wisconsin and Madison City of Madison 2,973 industries to the region Technical College 17 18 MADISON, WISCONSIN Since Madison is the capital of Wisconsin, many powerful companies cities, it is no surprise that people are flocking to live in Madison. Not have expanded to this area. These companies include technology only do residents enjoy outdoor activities, Madison is well-known by companies such as Google, Microsoft, Broadjam, and more. Additionally, citizens of its surrounding areas of Chicago and Minneapolis to be a it is an attractive place for people to come and live. It was identified as popular stop for Broadway plays and big-name musicians of all genres. the best place to live in the United States in 1996 by Money magazine And, who doesn’t love food. Madison is ranked fifth in Livability’s list and has consistently been ranked near the top of the best-places list, of best food cities for its collection of renowned chefs, top restaurants, with the city’s low unemployment rate, which is a major contributor in and food cooperatives and festivals that take advantage of locally this ranking.

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