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Adams Publishing Sale Leaseback Portfolio a Collection of 55 Properties Across 12 States Adams Publishing Sale Leaseback Portfolio Confidentiality & Disclaimer

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Adams Publishing Sale Leaseback Portfolio a Collection of 55 Properties Across 12 States Adams Publishing Sale Leaseback Portfolio Confidentiality & Disclaimer Adams Publishing Sale Leaseback Portfolio A Collection of 55 Properties Across 12 States Adams Publishing Sale Leaseback Portfolio Confidentiality & Disclaimer CONFIDENTIALITY & DISCLAIMER EXLUSIVELY LISTED BY: The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed Randy Blankstein only by the party receiving it from The Boulder Group and should not President be made available to any other person or entity without the written 847-562-0003 consent of The Boulder Group. [email protected] 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 Jimmy Goodman information contained herein is not a substitute for a thorough due Partner diligence investigation. The Boulder Group has not made any inves- 847-562-8500 tigation, and makes no warranty or representation. [email protected] 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 The Boulder Group representation whatsoever regarding the accuracy or completeness 3520 Lake Avenue, Suite 203 of the information provided. All potential buyers must take Wilmette, Illinois 60091 appropriate measures to verify all of the information set forth herein. www.bouldergroup.com | i | www.bouldergroup.com | Confidential Offering Memorandum Adams Publishing Sale Leaseback Portfolio Table of Contents Executive Summary ..................................................................................... 1 People’s Press | Owatonna, MN ...............................................................50 Portfolio Overview ..................................................................................2 Kent County News | Chestertown, MD ................................................51 The Rogersville Review | Rogersville, TN ........................................... 52 Tenant Overview ..........................................................................................3 Daily Times | Rawlins, WY ............................................................................ 53 List of Properties.......................................................................................4 Touring Publications | Sevierville, TN ...................................................54 Location Map ................................................................................................. 7 Faribault Daily News | Faribault, MN ....................................................55 Individual Property Overviews Press News | Osseo, MN ................................................................................56 Wyoming Tribune Eagle | Cheyenne, WI .............................................8 Newport Plain Talk | Newport, TN .......................................................... 57 Skagit Publishing | Mt. Vernon, WA .......................................................10 Dundalk Eagle | Dundalk, MD ..................................................................58 Daily Reflector | Greenville, NC .................................................................. 12 EagleHerald | Marinette, WI .......................................................................59 Big Sky Publishing | Bozeman, MT .........................................................14 The Waconia Patriot | Waconia, MN .....................................................60 Herald and News | Klamath Falls, OR ...................................................16 Queen Anne’s Record Observer | Centreville, MD ...................... 6 1 Star Democrat | Easton, MD ........................................................................18 Mesabi Daily News | Virginia, MN ...........................................................62 The Gazette | Janesville, WI ........................................................................20 Isanti County News | Cambridge, MN .................................................63 Sun Coast Press | Venice, FL ....................................................................... 22 Elk River Star News | Elk River, MN ........................................................65 The Greenville Sun | Greenville, TN ........................................................24 Waseca County News | Waseca, MN ....................................................66 Sun Coast Press | Charlotte Harbor, FL ...............................................26 St. Peter Herald | St. Peter, MN .................................................................67 Princeton Printing Plant | Princeton, MN .........................................28 Princeton Union Eagle | Princeton, MN .............................................68 Leader Printing | Eau Claire, WI ...............................................................30 The Daily Press | Ashland, WI ....................................................................69 The Daily Times | Maryville, TN ................................................................. 32 Spooner Advocate | Spooner, WI ............................................................70 ECM Publishers, Inc. | Coon Rapids, MN ............................................34 Morrison County Record | Little Falls, MN......................................... 71 Athens Messenger | Athens, OH .............................................................36 Anacortes American | Anacortes, WA ................................................. 72 The Daily Record | Ellensburg, WA ........................................................38 Hibbing Daily Tribune | Hibbing, MN ...................................................73 North Port Sun | North Port, FL .............................................................. 40 Logan Daily News | Logan, OH .................................................................74 Leader Telegram | Eau Claire, WI ............................................................ 41 Pilot Independent | Walker, MN .............................................................. 75 The Gazette | Janesville, WI ........................................................................42 Sawyer County Record | Hayward, WI .................................................76 Laramie Boomerang | Laramie, WY .....................................................43 Le Center Leader | Le Center, MN ...........................................................77 Northfield News | Northfield, MN ......................................................... 44 Park Falls Herald | Park Falls, WI ............................................................ 78 Sun Coast Press | Venice, FL .......................................................................45 The Mount Airy News | Mount Airy, NC ..............................................46 The Watauga Democrat | Boone, NC ..................................................47 Rocket Miner | Rock Springs, WY .......................................................... 48 The News Herald | Lenoir City, TN ..........................................................49 | ii | www.bouldergroup.com | Confidential Offering Memorandum Adams Publishing Sale Leaseback Portfolio Executive Summary EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a sale-leaseback portfolio of sixty-three single tenant net leased Adams Publishing Group properties. The portfolio consists of a total 1,085,308 square feet of space with a total proposed annual net operating income of $6,256,149. This portfolio offers investors the rare opportunity to acquire a long-term stable cash flow of office and industrial properties. The proposed leases will be absolute triple net and feature zero landlord responsibilities. The primary term of the leases will be for twenty years, feature 1% annual rental escalations and have four 5-year renewal options. Ownership will provide a substantial credit enhancement to the Adams Publishing Group lease. Upon closing, the primary investor in Adams Publishing Group, who has a significant net worth will provide a personal guarantee of approximately $30 million, equivalent to approximately 5 years of lease rental payments and around 50% of the total appraised resale value of the real estate. Contact broker for details. Adams Publishing is a family-owned community newspaper company started in 2013 and one of the largest community newspaper publishers in the US. In short time, Adams Publishing grew to become the sixth-largest newspaper chain in the US by number of newspapers owned. Adams Publishing publishes and distributes newspapers, magazines, websites and free distribution shoppers throughout twenty states and more than 100 daily and non-daily newspapers and publications. Additionally, Adams Publishing operates its own printing plants including 17 press lines. Adams Publishing focuses on smaller towns and communities where local daily newspapers and specialty publications can flourish due to their strong local branding with connection to the communities. The community publications represent an important communication vehicle for residents and the businesses located within these communities. Adams Publishing reaches approximately 1,100,000 households. Adams Publishing is able to utilize its operational scale by reducing
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