County Line Rd Land

OFFERING MEMORANDUM Capital Markets | Investment Properties COUNTY LINE RD LAND

0 County Line Rd / Westerville, OH 43082

www.cbre.us/columbus TABLE OF CONTENTS

05 13 18 30 Executive Property Area Local Market Summary Description Overview Overview

PLEASE CONTACT:

ERIC BELFRAGE MICHAEL SHIREY NICOLE KOSTIUK Senior Vice President Vice President Client Services Specialist +1 614 430 5048 +1 614 430 5059 +1 614 430 5075 [email protected] [email protected] [email protected]

COUNTY LINE RD LAND

EXECUTIVE SUMMARY Affiliated Business Disclosure Disclaimer CBRE, Inc. operates within a global family of companies with many subsidiaries This Memorandum contains select information pertaining to the Property and and related entities (each an “Affiliate”) engaging in a broad range of the Owner, and does not purport to be all-inclusive or contain all or part of the commercial real estate businesses including, but not limited to, brokerage information which prospective investors may require to evaluate a purchase of services, property and facilities management, valuation, investment fund the Property. The information contained in this Memorandum has been obtained management and development. At times different Affiliates, including CBRE from sources believed to be reliable, but has not been verified for accuracy, Global Investors, Inc. or Trammell Crow Company, may have or represent completeness, or fitness for any particular purpose. All information is presented clients who have competing interests in the same transaction. For example, “as is” without representation or warranty of any kind. Such information includes Affiliates or their clients may have or express an interest in the property described estimates based on forward-looking assumptions relating to the general in this Memorandum (the “Property”), and may be the successful bidder for the economy, market conditions, competition and other factors which are subject Property. Your receipt of this Memorandum constitutes your acknowledgement to uncertainty and may not represent the current or future performance of the of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate Property. All references to acreages, square footages, and other measurements has an obligation to disclose to you such Affiliates’ interest or involvement in are approximations. This Memorandum describes certain documents, including the sale or purchase of the Property. In all instances, however, CBRE, Inc. and leases and other materials, in summary form. These summaries may not be its Affiliates will act in the best interest of their respective client(s), atarms’ complete nor accurate descriptions of the full agreements referenced. Additional length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. information and an opportunity to inspect the Property may be made available and its Affiliates will conduct their respective businesses in a manner consistent to qualified prospective purchasers. You are advised to independently verify the with the law and all fiduciary duties owed to their respective client(s). accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully Confidentiality Agreement investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS Your receipt of this Memorandum constitutes your acknowledgement that (i) it SOLELY AT YOUR OWN RISK. is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not The Owner expressly reserves the right, at its sole discretion, to reject any or all disclose it or its contents to any third party without the prior written authorization expressions of interest or offers to purchase the Property, and/or to terminate of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use discussions at any time with or without notice to you. All offers, counteroffers, any part of this Memorandum in any manner detrimental to the Owner or and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner CBRE, Inc. shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

4 |COUNTY LINE RD LAND THE OFFERING

CBRE Hotels is pleased to offer, on an exclusive basis, the opportunity to acquire 3.753 acres located at the signalized corner of County Line Rd and Worthington Rd. The site is located near Polaris Centers of Commerce and is surrounded by significant office and retail development.

• Significant Frontage 546 total linear feet of frontage on Worthington Rd and County Line Rd. The triangular configuration provides maximal exposure to these CLICK HERE TO VIEW DRONE two heavily traveled roadways. FOOTAGE • Signalized Access Signalized access at the corner of Worthington Rd and County Line. County Line Rd is a four-lane roadway with center turn lane. CLICK HERE TO SIGN

• Desirable Location CONFIDENTIALITY AGREEMENT Proximate to Polaris Centers of Commerce featuring 6 million sq. ft of retail space and over 2.4 million sq. ft. of office space. The site also has flexible accessibility to the South, East and North.

5 |COUNTY LINE RD LAND 02

COUNTY LINE RD LAND

PROPERTY OVERVIEW PROPERTY DESCRIPTION

ZONING

Address: County Line Rd Zoning: Chapter 1156 – PO, Planned Office District

1156.02 PERMITTED USES. Location: Westerville, OH Those uses permitted within the Planned Office District include those uses that are permitted in the Office Institutional District (Chapter 1155) and additional Parcel Number: 318-443-02-012-006 uses that the Planning Commission feels to be in character with the intent and purpose of the Planned Office District.

Land Size: +/- 3.753 (Ord. 95-36. Passed 6-20-95.) 1156.03 CONDITIONAL USES.

County: Delaware Those uses conditionally permitted within the Planned Office District include those uses that are conditionally permitted in the Office Institutional District and the following additional uses: Zoning Planned Office District (PO) (a) Public indoor recreation.

(b) Membership sports and recreation clubs.

(d) Personal Services as part of the principally permitted use and with no exterior signage or direct outside access.

(e) Mixed warehouse and office uses (with less than 50% of the gross floor area as warehouse.

(Ord. 95-36. Passed 6-20-95; Ord. 2017-25. Passed 1-16-18; Ord. 2018-13. Passed 6-19-18.)

Ordinance 2018-13 does indicate hotel use would be considered. For more information please reach out to Karl Craven (614)-901-6677 with the City of Westerville Zoning department 03

COUNTY LINE RD LAND

AREA OVERVIEW AREA OVERVIEW

POLARIS

The site is located in Westerville, OH northeast of Columbus. The site benefits from being in the Polaris submarket and is surrounded by significant retail and office developments.

The site is near Polaris Fashion Place a 1.3 million sq. ft premier retail destination. Key retailers include Saks Fifth Avenue, Disney Store, Dave and Buster’s and Apple. The mall will also soon be home to Fieldhouse USA – the first in Ohio. The mall also features a 775-seat food hall and numerous full-service restaurants including BJ’s Brewhouse, The Cheesecake Factory, Mitchell’s, Olive Garden, and Red Lobster.

Polaris is also a premier shopping destination with over 6 million sq. ft of retail space. Notable retailers include Ikea, Cabella’s, Costco, Target, Lowe’s, Best Buy, Kroger, DSW, Big Sandy Superstore, and Top Golf. Fieldhouse USA, an indoor sports center that hosts year-round league play in basketball, soccer, volleyball and more, is coming soon to Polaris and is the first in Ohio.

The Polaris office market is comprised of over 2.4 million sq. ft. of office with a vacancy rate of 19%. Development activity has remained robust in the Polaris market. Phase one of The Point at Polaris recently completed and brought 70,000 sq. ft. of office, 30,000 sq. ft. of retail space, and 216 apartments. New office tenants included Anthem Blue Cross Blue Shield of Ohio, Cathcart and Fusion Alliance. New retail tenants in the development include Kitchen Social, Condado, Atlas Tavern and Tropical Smoothie Café. With the success of phase one, phase two of The Point at Polaris recently broke ground and will add 145,000 sq. ft of office to the market and 260 apartments. The development will be anchored by Bank of America, which will occupy 60,000 sq. ft.

Quarterly market reports for Office, Retail, and Multifamily can be found in the Virtual Deal Room. POLARIS DEMAND GENERATORS WESTAR DEMAND GENERATORS 04

COUNTY LINE RD LAND

LOCAL MARKET OVERVIEW COLUMBUS MSA

COLUMBUS TOP EMPLOYERS ECONOMY

The capital of Ohio, Columbus, is the nation’s 14th largest city with a population The Ohio State University 32,111 of over 2 million and was recently named of The New York Times top 52 places OhioHealth 26,599 to visit in 2019. Columbus is the Capitol City of the State of Ohio. The area continues to grow with major attractions such as Easton Town Center, COSI, Wal-Mart Stores Inc. 26,000 and the recently completed National Veterans Memorial and Museum. With State of Ohio 24,955 Columbus’ continuing growth, the city won the Smart City Challenge, edging JP Morgan Chase & Co. 18,701 out 78 other midsize cities that applied. The city received a total of $90m which Nationwide Insurance 13,455 is designed to achieve the following goals: improving quality of life, drive growth in the economy, provide better access to jobs, become a world class logistics Nationwide Children’s Hospital 12,023 leader, and foster sustainability through the innovations of transportation. Kroger Co. 11,206 City of Columbus 8,873 Mount Carmel Health System 8,708

13 |COUNTY LINE RD LAND AREA OVERVIEW

HOSPITALS AND HEALTH CARE

OhioHealth is one of the area’s largest health care providers with 29,000 associates, physicians and volunteers. OhioHealth has a network of 11 hospitals, 200+ ambulatory sites, hospice, home heath, medical equipment and other health services. The provider offers health services across 47 Ohio counties.

Mount Carmel Health System is the area’s second largest system with over 10,000 employees, 2,000 physicians and 900 volunteers. Mount Carmel has a network of four hospitals, free-standing emergency centers, outpatient facilities, surgery centers, urgent care center, primary care and specialty care as well as community outreach sites and home across the region.

The James Cancer Hospital and Solove Research Institute of The Ohio State University is ranked as one of the top hospitals in the nation for cancer care.

UNIVERSITIES AND EDUCATION

Otterbein University is a regionally-accredited liberal arts university located in Westerville, OH – just 2.5 miles from the land site. The university has an enrollment of approximately 3,000. Otterbein offers more than 70 majors and 44 minors. Otterbein recently announced development plans for 58 acres of farmland near its campus. The plan, dubbed “Uptown West”, includes 240,000 sq. ft of office, 100,000 sq. ft of medical office, 25,000 sq. ft. of retail space and 627 multifamily units.

The Ohio State University is recognized as one of the nation’s top-20 public universities and is also recognized by a top-rated academic medical center and premier cancer hospital and research center. The Fairfield Inn and Suites is located less than mile away with access to over 61,000 students. Ohio State football games also attract nearly 100,000 fans per game throughout the season.

The Ohio State University continues to expand with plans for an innovation district west of campus. The innovation center is anticipated to range from 9 million sq. ft. to 12 million sq. ft. of real estate and residential housing for as many a 4,000 people. New OSU area hotel supply includes an 164 room Aloft which opened in May 2020.

Other area Universities include: Ohio Dominican, Capital University, Ohio Wesleyan, Franklin University, the Ohio University Medical School, Columbus College of Art and Design, Columbus State University, The Pontifical College Josephinium, Dennison University, and The Mount Carmel School of Nursing. AREA OVERVIEW

TOURISM AND LEISURE

Sports and Entertainment

Columbus is home to two major league sports teams including the Columbus five-story, 596-space parking garage, apartments, and a total of 500,000 sq. Blue Jackets (NHL) at Nationwide Arena and the Columbus Crew (MLB) at ft. of office space. Edwards Cos. recently announced redevelopment plans for Mapfre Stadium. The Columbus Crew recently began construction on a new PNC Tower with plans to convert most of the building into residential space $230 million downtown stadium which is also slated to include office, with some ground floor office and retail space. residential, and commercial space. The new stadium is expected to open in Vacancy rates for the city increased quarter over quarter to 16.7% in Q3 July 2021. The Ohio State Buckeyes attract nearly 100,000 people to each 2020. With additional space entering the market average asking rates slightly home football game. Other entertainment in the area includes Easton Town declined in Q3 to $19.78 per sq. ft. Despite a decrease, asking rates Center, Polaris Fashion Place, many breweries and distilleries, metro parks, remained up year-over-year. In Q3 2020 there was 293,000 sq.ft of recorded and art galleries. office transactions. Over 80% of those transactions were either renewals or Food and Art new leases. The market had no large new leases, the most notable being an expansion in Capitol Square by Hahn Loeserand Parks for 22,693 sq.ft. Columbus is a foodie’s destination with multiple restaurants from the Activity declined most notably in the suburban submarkets by a total of 77% in renowned Cameron Mitchell Restaurant group, Jeni’s Splendid Ice Cream, sq. ft volume. and Katzingers Delicatessen in German Village. Breweries and distilleries including Brewdog, North High Brewing, Seventh Son, Middle West Spirits, and TRANSPORTATION AND ACCESSIBILITY High Bank Distillery all call Columbus home. Columbus is easily accessible through multiple modes of transportation. Columbus also has a thriving arts scene with the Short North Arts District Columbus is home to two major airports, John Glenn International Airport and where many art galleries are located. The revitalizing town of Franklinton is Rickenbacker International airport. The area is also home to two major rail also an artist’s destination with Roy G Biv Gallery and 400 W Rich, a providers, CSX and Norfolk Southern. Central Ohio Transit Authority (COTA) collaborative community center for the arts. also provides bus rides throughout the city.

COLUMBUS OFFICE MARKET Columbus also has a connected interstate system. Interstate 71 connects Cincinnati, Columbus, and Cleveland making traveling convenient. The land Economic conditions have not slowed the development of office space in site is easily accessible from I-71 and is only 13 miles to downtown Columbus. Central Ohio. Over 994,000 sq.ft of new office space is under construction in Dublin, Grandview, Polaris, and the Downtown area. Daimler broke ground on phase I of the Scioto Peninsula project that includes a 232,000 sq.ft speculative office building that is expected to complete in Q3 2022. Thrive Construction Co. continued work on Grandview Crossing which includes a 124,500 sq.ft speculative office building in Grandview. The Truepointe project is a proposed mixed-use development that features a 200,000 sq.ft class A office building complete with high-end retail in Hilliard. More projects are slated to break ground in early 2021.

The Arena District continues to expand a 132,000 sq. ft. office building anchored by Chipotle currently under construction. Other plans include a COUNTY LINE RD LAND

0 County Line Rd / Westerville, OH 43082

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Capital Markets | Investment Properties