Offering Memorandum

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OFFERING MEMORANDUM

FOWLER LAND TRACT Nolensville, TN

PRESENTED BY PaulSteve Blackburn Broker Steve Broker John Agent John Agent SeniorExecutive Associate Vice President Investments First Vice President Investments Vice President Investments Vice President Investments Member,Palo Alto NationalOffice Land Group Sacramento/Reno Office Palo Alto Office Palo Alto Office NashvilleTel: (650) Office391-1774 Tel: (916) 724-1400 Tel: (650) 391-1796 Tel: (650) 391-1797 Tel:Fax: (615) (650) 997-2857 391-1715 Fax: (916) 724-1410 Fax: (650) 391-1715 Fax: (650) 391-1715 Fax:[email protected] (615) 997-2910 [email protected] [email protected] [email protected] [email protected]: CA 01234567 License: CA 01234567 License: CA 01234567 License: CA 01234567 NV 01234 NON-ENDORSEMENT AND DISCLAIMER NOTICE

Non-Endorsements 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.

FOWLER LAND TRACT Nolensville, TN ACT ID Y0480074

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INVESTMENT OVERVIEW

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OFFERINGOFFERING SUMMARY SUMMARY EXECUTIVE SUMMARY

OFFERING SUMMARY Price $785,000 MAJOR EMPLOYERS Down Payment 100% / $785,000 Loan Amount $0 Loan Type All Cash EMPLOYER # OF EMPLOYEES * Lot Size (SF) 379,843 Quanta Service Nashville LLC 5,011 Price/SF $2.07 Quanta 5,006 Lot Size (Acres) 8.72 acre(s) Walmart 420 Price/Acre $90,023 Foundation For Health Care 400 Number of Lots 1 Ammed Homecare Pharmacy 350 Price/Lot $785,000 Simplicity Pattern 300 Type of Ownership Fee Simple Venture Express Inc 300

Ey 281

Venture Ex Inc La Vergne TN 280

Wirtgen America Inc 230

Hennessy Industries Inc 222

Lightning Source 221

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles 2016 Estimate Pop 2,460 24,650 75,528 2010 Census Pop 1,821 18,916 63,198 2016 Estimate HH 889 8,111 27,820 2010 Census HH 668 6,281 23,513 Median HH Income $94,863 $96,720 $79,550 Per Capita Income $45,291 $42,782 $40,423 Average HH Income $125,268 $129,988 $109,721

* # of Employees based on 5 mile radius

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OFFERING SUMMARY INVESTMENT OVERVIEW

Marcus & Millichap is pleased to offer this 8.72 acre parcel of land located within Nolensville, Tennessee in Williamson County. It is currently zoned Residential, however it is contiguous to 5.5 acre tract that has been recently rezoned commercial "CS" for Commercial Services. Re-entitlement of this subject property should be an effortless formality. The topology of this subject parcel is level with little to no height transition to road frontage. Utilities are accessible at road frontage including, gas, water, electrical, cable and fiber communications.

INVESTMENT HIGHLIGHTS

§ 8.72 Acre Tract of Raw Undeveloped Land § Over 400 Linear Feet Of Road Frontage Along Nolensville Road § Level Parcel, Almost Pad Ready Topology § Utilities Are To Site at Road Frontage § Inside The Nolensville City Limits Within Williamson County

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OFFERING SUMMARY PROPERTY SUMMARY

THE OFFERING Property Fowler Land Tract Price $785,000 Property Address 7106 Nolensville Rd,Nolensville,TN Assessors Parcel Number 033 108.00 Zoning Residential Utilities Peidmont Gas, City Water, NES Electricity, Comcast & AT&T Ingress/Egress Nolensville Road SITE DESCRIPTION Lot Size (SF) 379,842 Price/SF $2.06 Lot Size (Acres) 8.72 Price/Acre $90,000 Number of Lots 1 Price/Lot $785,000 Type of Ownership Fee Simple PROPERTY SUMMARY Flood Plain Minimal 500 Year FEMA Flood Plain Roads Kidd Road, Nolensville Road, Hwy #96, I-65 PUBLIC UTILITIES Sanitary Sewer Nolensville City Gas Peidmont Gas

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PRICINGPRICING ANDANDLOCATIONLOCATION VALUATIONVALUATIONTENANT SUMMARYOVERVIEWOVERVIEW MATRIXMATRIX

7106 Nolensville Rd, Nolensville, TN 37135

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REGIONAL MAP

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LOCAL MAP

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AERIAL PHOTO

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MARKET OVERVIEW

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MARKET OVERVIEW

NASHVILLE

Market Highlights Geography Music city The Nashville metro is located in the north-central portion of the state of Tennessee, in § The music industry provides jobs and supports a large hospitality sector. what is known as the Central Basin. The area is underlain primarily by limestone from the Ordovician Period. The Cumberland River, which snakes through the region, adds to Diversifying economy the local economic base and enhances Nashville’s quality of life. § Other major industries in the metro include healthcare, government, automotive, publishing, insurance and finance. Population growth § The population will increase at a faster pace than the nation over the next five years.

Nashville-Davidson-Murfreesboro-Franklin, TN Metro

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MARKET OVERVIEW

NASHVILLE

Metro The Nashville metro, with a population of nearly 1.8 million, has 13 counties: Davidson, Smith, Macon, Williamson, Cheatham, Sumner, Dickson, Robertson, Cannon, Rutherford, Hickman, Trousdale, Maury and Wilson. Nashville, the capital city, is also the largest in the metro with 646,600 residents, followed by Murfreesboro.

Infrastructure Three major interstate highways intersect in Nashville, I-40, I-24 and I-65. In addition, I-440 serves as an inner beltway circling the city, and I-840 is an outer beltway. The region is home to numerous freight carriers and truck terminals.

Air service to the region comes through the Nashville International Airport and several general aviation facilities, including the John C. Tune and Smyrna airports. Also, Nashville Air Cargo is an all-cargo complex located at the Nashville International Airport. Largest Cities in Metro by Population Nashville 646,600

The Port of Nashville, located on the Cumberland River, provides full river barge access to the Gulf of Mexico. Murfreesboro 120,600 Franklin 69,300 CSX Transportation has a major intermodal rail yard servicing the Southeast U.S. located nearby. In addition, the Hendersonville 55,100 Music City Star, a passenger commuter rail, runs between the city of Lebanon and downtown Nashville, and bus Smyrna 43,800 transit within the city is provided by the Metropolitan Transit Authority. Brentwood 41,700

The Nashville Metro is: Major Roadways * Forecast Sources: Marcus & Millichap Research Services; U.S. Census § 210 miles from Memphis § Interstates 24, 40, 65, 440 and 840 Bureau; Experian § 249 miles from Atlanta § U.S. 31, 41, 70 and 431 § 290 miles from Indianapolis Rail § 310 miles from St. Louis § Freight – CSX Airports § Commuter – Music City Star Rail § Nashville International Airport Ports § General aviation airports § Port of Nashville

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MARKET OVERVIEW

NASHVILLE

Economy For many, country music and Nashville are synonymous. The metro is home to companies headquartered in the region: HCA Holdings, Dollar General, the Ryman Auditorium, Grand Ole Opry, Country Music Television and Music Community Health Systems, LifePoint Health, Delek US Holdings and Tractor Row. Music and entertainment have helped to establish a large tourism industry. Supply Co. Facilities such as the Gaylord Opryland Resort & Convention Center, the Nashville Convention Center and the 1.2 million-square-foot Music City Center Institutions of higher learning in the metro include Middle Tennessee State have all played a role in expanding the hospitality and tourism segment. University, Lipscomb University, Belmont University, Vanderbilt University and Tennessee State University. Education, healthcare and government employment Although entertainment and tourism are vital to the local economy, the economic help to diversify Nashville’s employment base. base is much more diverse. This is due, in part, to the area having one of the nation’s lowest overall tax burdens and the availability of incentives to attract relocating and expanding businesses. Other major industries in the metro include healthcare, higher education, finance and insurance, automobile production, printing and publishing, and technology manufacturing. There are six fortune 500

* Forecast Sources: Marcus & Millichap Research Services; Bureau of Economic Analysis; Moody’s Analytics; U.S. Census Bureau; Experian

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MARKET OVERVIEW

NASHVILLE

Labor After outperforming the national rate of job growth over the past 10 years, the Nashville metro is expected to maintain an elevated pace of growth through 2020. Many employment sectors that posted the most robust growth during the previous five years are now decelerating to a more sustainable pace, and all sectors except for manufacturing are forecast to expand during this period. The largest increase will be in construction, at an average pace of 5.3 percent annually in the coming five years.

Currently, the trade, transportation and utilities sector is the largest provider of regional jobs. These industries comprise 20 percent of Nashville’s entire employment base, or approximately 180,600 jobs. Many of these positions are in retail. The professional and business services sector makes up another major share of Nashville employment, representing about 16 percent of payrolls. While this sector registered impressive annual growth of approximately 6.8 percent throughout the previous five years, jobs in this sector are now forecast to expand by 3.5 annually. The education and health services segment comprises another 16 percent of employment. Demand for these services is expected to increase throughout the foreseeable future, as the metro continuously records population growth well above the national average.

Other employment segments that will register impressive gains through 2020are education and health services, leisure and hospitality, information and the financial activities sectors. All of these industries are expected to grow jobs at a pace in excess of 1 percent annually.

* Forecast Sources: Marcus & Millichap Research Services; BLS; Moody’s Analytics

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MARKET OVERVIEW

NASHVILLE

Employers The list of major employers in Nashville is dominated by education, healthcare and government entities. The state of Tennessee, the Metropolitan Nashville-Davidson County Government, which includes the public school system, and Vanderbilt University and Medical Center each account for nearly 20,000 jobs. St. Thomas Health Services, MedSolutions and HCA also contribute to the growing healthcare industry. Other large employers are financial and insurance companies, which employ tens of thousands of workers in the metro. Major companies include American General Life Companies, Hylant Group, CNA, First Tennessee Bank, Sun Trust Bank, Primus Automotive Financial Services and Asurion Insurance Services Inc.

Ryman Hospitality Properties, formerly Gaylord Entertainment, is a large employer in the leisure and hospitality sector. The company operates the Grand Ole Opry, the Ryman Auditorium and other venues. The entertainment industry helped to spawn a large printing and publishing industry that focuses not only on country-western media, but Christian media as well. Large companies include the United Methodist Publishing House, Ingram Content Group and R R Donnelley & Sons Co.

Automobile production flourished when Nissan’s Smyrna Plant began operations. The headquarters for Nissan North American, Inc. moved to Franklin in 2006 and International Automotive Components, GM and Bridgestone are located in the region.

Zycron, Amazon and Emma are a few of the technology employers in the Nashville area that draws young professionals to the region.

Major Employers Vanderbilt University and Medical Center Kroger Community Health Systems Saint Thomas Health Services Nissan North America HCA Ryman Hospitality Properties Electrolux Home Products Cracker Barrel Old Country Store, Inc. Randstad Staffing

* Forecast Sources: Marcus & Millichap Research Services; BLS; Moody’s Analytics; Experian

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MARKET OVERVIEW

NASHVILLE

Demographics The Nashville metro population is expected to grow by more than 120,000 people over the next five years. The growth will come from both in-migration and natural increases, as the area has a large portion of families in their childbearing years. Accordingly, the median age, at 36.2 years, is below the U.S. median of 37.5 years. The number of residents in the 65-plus age bracket accounts for just 12 percent of the metro’s population, under the average for the country. This bodes well for Nashville’s future, as it illustrates the area’s large, available employment pool on the verge of their most successful earning years.

Nashville, which is home to more than 20 colleges and universities and is the state capital, has a higher level of education among residents than the national average. Approximately 30.2 percent of the local population older than age 25 have earned at least a bachelor’s degree, as opposed to 28.8 percent for the entire country. The metro also places high in education attainment when compared with many other Southeastern cities.

Elevated education levels often translate to higher incomes. The metro’s median household income has consistently tracks the nationwide median. Strong incomes and the relatively affordable median home price of $208,500 have afforded more than 65 percent of households to own their home.

* Forecast Sources: Marcus & Millichap Research Services; AGS; Experian; Moody’s Analytics; U.S. Census Bureau

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MARKET OVERVIEW

NASHVILLE

Quality of Life While music may be in Nashville’s blood, Music City has a lot more to offer, including performing arts, history, cuisine, professional sports, education institutions, natural beauty and Southern charm.

Music is alive not only at the Grand Ole Opry, but also at the Ryman Auditorium, Fontanel Mansion, Schermerhorn Symphony Center and the Tennessee Performing Arts Center. For country music fans, there is the Country Music Hall of Fame and Museum. Performing arts include the Nashville Ballet, Nashville Symphony, Nashville Opera Association, Tennessee Repertory Theatre, Nashville Children’s Theatre and the ACT 1, Artists’ Cooperative Theatre.

Museums in the metro include the Tennessee State Museum, the Vanderbilt University Fine Arts Gallery, Frist Center for the Visual Arts, Cheekwood Botanical Garden & Museum of Art and the Carl Van Vechten Gallery at Fisk University.

Sports enthusiasts can watch the Tennessee Titans of the NFL, the NHL Nashville Predators and the Nashville Sounds, a member of baseball’s AAA Minor League.

For those who want to spend an afternoon outdoors, one can take in the Parthenon, the world’s only replica of the ancient Greek temple, which is located only 2 miles from downtown Nashville or Nashville Shores Water Park and Marina.

* Forecast Sources: Marcus & Millichap Research Services; National Association of Realtors; Moody’s Analytics; U.S. Census Bureau

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MARKETINGDEMOGRAPHICS TEAM Created on May 2017

POPULATION 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles § 2021 Projection § 2016 Estimate Total Population 2,908 29,689 88,029 $250,000 or More 6.34% 7.33% 5.57% § 2016 Estimate $200,000 - $249,999 3.85% 4.59% 3.73% Total Population 2,460 24,650 75,528 $150,000 - $199,999 13.10% 12.71% 8.84% § 2010 Census $125,000 - $149,999 8.33% 8.61% 6.98% Total Population 1,821 18,916 63,198 $100,000 - $124,999 15.16% 14.79% 12.19% § 2000 Census $75,000 - $99,999 15.78% 15.05% 15.67% Total Population 591 6,171 33,167 $50,000 - $74,999 15.04% 14.35% 16.64% § Daytime Population $35,000 - $49,999 10.87% 10.04% 11.85% 2016 Estimate 1,351 12,973 41,865 $25,000 - $34,999 4.44% 4.72% 6.66% HOUSEHOLDS 1 Miles 3 Miles 5 Miles $15,000 - $24,999 3.76% 4.24% 6.55% § 2021 Projection Under $15,000 3.33% 3.57% 5.32% Total Households 1,063 9,824 32,419 Average Household Income $125,268 $129,988 $109,721 § 2016 Estimate Median Household Income $94,863 $96,720 $79,550 Total Households 889 8,111 27,820 Per Capita Income $45,291 $42,782 $40,423 Average (Mean) Household Size 2.97 2.98 2.70 § 2010 Census Total Households 668 6,281 23,513 § 2000 Census Total Households 211 2,172 13,273

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MARKETINGDEMOGRAPHICS TEAM Created on May 2017

POPULATION PROFILE 1 Miles 3 Miles 5 Miles POPULATION PROFILE 1 Miles 3 Miles 5 Miles § Population by Age § Population 25+ by Education Level 0 to 4 Years 6.96% 7.20% 7.54% 2016 Estimate Population Age 25+ 1,501 14,977 47,667 5 to 14 Years 18.74% 19.67% 16.97% Elementary (0-8) 0.66% 0.83% 1.77% 15 to 17 Years 5.75% 5.42% 4.50% Some High School (9-11) 2.29% 2.43% 3.35% 18 to 19 Years 2.79% 2.59% 2.26% High School Graduate (12) 14.31% 13.72% 16.27% 20 to 24 Years 4.75% 4.37% 5.62% Some College (13-15) 18.84% 18.77% 19.31% 25 to 29 Years 4.04% 4.35% 7.28% Associate Degree Only 8.70% 7.87% 7.00% 30 to 34 Years 6.33% 6.58% 8.07% Bachelors Degree Only 36.84% 37.95% 34.77% 35 to 39 Years 8.48% 8.44% 7.94% Graduate Degree 18.10% 18.02% 16.99% 40 to 49 Years 17.14% 17.49% 15.65% 50 to 59 Years 12.80% 12.49% 12.62% 60 to 64 Years 4.62% 4.44% 4.73% 65 to 69 Years 3.29% 3.10% 3.22% 70 to 74 Years 1.81% 1.69% 1.67% 75 to 79 Years 1.05% 1.00% 0.93% 80 to 84 Years 0.75% 0.60% 0.54% Age 85+ 0.70% 0.58% 0.44% Median Age 35.42 34.89 33.62

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MARKETINGDEMOGRAPHICS TEAM

Population Race and Ethnicity In 2016, the population in your selected geography is 2,460. The The current year racial makeup of your selected area is as follows: population has changed by 316.24% since 2000. It is estimated that 81.45% White, 6.84% Black, 0.04% Native American and 8.42% the population in your area will be 2,908.00 five years from now, Asian/Pacific Islander. Compare these to US averages which are: which represents a change of 18.21% from the current year. The 70.77% White, 12.80% Black, 0.19% Native American and 5.36% current population is 48.88% male and 51.12% female. The median Asian/Pacific Islander. People of Hispanic origin are counted age of the population in your area is 35.42, compare this to the US independently of race. average which is 37.68. The population density in your area is 782.47 people per square mile. People of Hispanic origin make up 3.00% of the current year population in your selected area. Compare this to the US average of 17.65%.

Households Housing There are currently 889 households in your selected geography. The The median housing value in your area was $361,631 in 2016, number of households has changed by 321.33% since 2000. It is compare this to the US average of $187,181. In 2000, there were 192 estimated that the number of households in your area will be 1,063 owner occupied housing units in your area and there were 20 renter five years from now, which represents a change of 19.57% from the occupied housing units in your area. The median rent at the time was current year. The average household size in your area is 2.97 persons. $520.

Income Employment In 2016, the median household income for your selected geography is In 2016, there are 445 employees in your selected area, this is also $94,863, compare this to the US average which is currently $54,505. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 46.89% 70.92% of employees are employed in white-collar occupations in since 2000. It is estimated that the median household income in your this geography, and 30.07% are employed in blue-collar occupations. area will be $113,154 five years from now, which represents a change In 2016, unemployment in this area is 6.08%. In 2000, the average of 19.28% from the current year. time traveled to work was 31.00 minutes.

The current year per capita income in your area is $45,291, compare this to the US average, which is $29,962. The current year average household income in your area is $125,268, compare this to the US average which is $78,425.

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PRICINGPRICING ANDANDLOCATION VALUATIONVALUATIONMARKETTENANTMARKETING OVERVIEWSUMMARY MATRIXMATRIX PLAN TRAFFIC COUNT

YEAR COUNT

2013 13,128

2007 11,555

2012 10,487

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Paul Blackburn Senior Associate Member, National Land Group Nashville Office Tel: (615) 997-2857 Fax: (615) 997-2910 [email protected] License: TN 309944