LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 T a B L E O F C O N T E N T S

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LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 T a B L E O F C O N T E N T S INDUSTRIAL PROPERTY FOR SALE Exclusively Listed By: LEASEHOLD STNL MARCEL PEARL EVAN LYONS Associate Advisor Senior Director FEDEX 248.702.0942 248.702.0298 2451 Access Way, Imperial, CA 92251 [email protected] [email protected] 30500 NORTHWESTERN HIGHWAY SUITE 400 | FARMINGTON HILLS, MI 48334 | ENCOREINVESTMENTREALESTATE.COM LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 T A B L E O F C O N T E N T S Confidentiality & Disclaimer Contents All materials and information received or derived from Encore Real Estate Investment COVER PAGE 1 Services, LLC its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or EXECUTIVE SUMMARY 3 accuracy, condition of the property, compliance or lack of compliance with applicable LEASE ABSTRACT 4 governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or LEASE ABSTRACT 5 any and all other matters. LOCATION OVERVIEW 6 Neither Encore Real Estate Investment Services, LLC its directors, officers, agents, advisors, TENANT PROFILES 7 or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. ADDITIONAL PHOTOS 8 Materials and information from any source, whether written or verbal, that may be RETAILER MAP 9 furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. Encore Real REGIONAL MAP 10 Estate Investment Services, LLC will not investigate or verify any such matters or conduct LOCATION MAP 11 due diligence for a party unless otherwise agreed in writing. AERIAL MAP 12 EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. DEMOGRAPHICS MAP & REPORT 13 BACK PAGE 14 Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Encore Real Estate Investment Services, LLC makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Encore Real Estate Investment Services, LLC does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Encore Real Estate Investment Services, LLC in compliance with all applicable fair housing and equal opportunity laws. 2 30500 NORTHWESTERN HIGHWAY SUITE 400 | FARMINGTON HILLS, MI 48334 | ENCOREINVESTMENTREALESTATE.COM LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 CLICK ON THE FOLLOWING LINKS: Google Map Street View E X E C U T I V E S U M M A R Y OFFERING SUMMARY LEASE SUMMARY PROPERTY HIGHLIGHTS List Price: $2,450,000 Taxes / Insurance / CAM: Tenant Responsibility FedEx Ship Center | Build-to-Suit for FedEx in 1999 Strong Commitment to Site with Over 21 Years at this Roof: Landlord Responsibility NOI: $186,138 Location Structure: Landlord Responsible 9 Years Remaining in Term | Two, 5-Year Options Available Cap Rate: 7.6% Parking Lot: Landlord Responsible Next Rental Increase in April 2025 HVAC: Landlord Responsible Land Acreage: 2.05 Acres Corporate Guaranty from FedEx | Standard & Poor’s BBB Rated | NYSE: FDX Term Remaining: 9 Years Strategically Located on Imperial County Airport Year Built: 1999 Commencement Date: June 30, 1999 Premise | 370-Acre Airport | Located 1 Mile South of the Central Business District of Imperial, California Options: 2, Five-Year Options Building Size: 20,211 Located in Imperial Valley | Economic Center of California Known For Strong Government, Agricultural Increases: 5% in Year Five and Retail Trade Price / SF: $121.22 Guarantor: FedEx Corp 3 30500 NORTHWESTERN HIGHWAY SUITE 400 | FARMINGTON HILLS, MI 48334 | ENCOREINVESTMENTREALESTATE.COM LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 L E A S E A B S T R A C T LEASE SUMMARY ANNUALIZED OPERATING DATA RENT INCREASES ANNUAL MONTHLY RENT RENT Taxes / Insurance / CAM: Tenant Responsibility 4/1/2021-3/31/2025 $212,215.56 $17,684.63 Roof / Structure: Landlord Responsibility 4/1/2025-3/31/2026* $222,321.00 $18,526.75 4/1/2026-3/31/2030 $222,321.00 $18,526.75 Term Remaining: 9 Years Option 1 ( 4/1/2030- 3/31/2035) *Market Rent Commencement Date: June 30, 1999 Option 2 ( 4/1/2035- 3/31/2040) *Market Rent *Rent Subject To Rent Abatement. Credit to Buyer at Options: 2, Five-Year Options Closing Increases: 5% in Year Five Base Rent ( / SF) $212,215.56 Ground Lease $26,076.21 Guarantor: FedEx Corp Net Operating Income $186,139.35 *Tenant may renew the term for two successive terms of five years each, so long as this agreement is in place. Total annual rent for each 4 renewal will be fair market rent. 30500 NORTHWESTERN HIGHWAY SUITE 400 | FARMINGTON HILLS, MI 48334 | ENCOREINVESTMENTREALESTATE.COM LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 G R O U N D L E A S E A B S T R A C T LEASE SUMMARY ANNUALIZED OPERATING DATA RENT INCREASES ANNUAL RENT MONTHLY RENT Year 23 - June 2021 $26,076.21 $2,017.96 Taxes / Insurance / CAM: Tenant Responsibility Year 24 - June 2022 $26,597.74 $2,216.48 Year 25 - June 2023 $27,129.69 $2,260.81 Roof / Structure: Tenant Responsibility Year 26 - June 2024 $27,672.28 $2,306.02 Year 27 - June 2025 $28,225.73 $2,352.14 Term Remaining: 9 Years Year 28 - June 2026 $28,790.24 $2,399.19 Year 29 - June 2027 $29,366.05 $2,447.17 Commencement Date: May 11, 1999 Year 30 - June 2028 $29,953.37 $2,496.11 Option 1 (June 1, 2029 - May 31, 2039) CPI or 4% whichever is lower Options: 1, Ten-Year Option Increases: 2% Each Year 5 30500 NORTHWESTERN HIGHWAY SUITE 400 | FARMINGTON HILLS, MI 48334 | ENCOREINVESTMENTREALESTATE.COM LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 I M P E R I A L , C A L I F O R N I A O V E R V I E W IMPERIAL, CA The Imperial Valley lies in the California counties of Imperial and Riverside, in southeastern Southern California with an urban area centered on the city of El Centro. The Valley is bordered by the Colorado River to the east and, in part, the Salton Sea to the west. Farther west lies the San Diego and Imperial County border. To the north is the Coachella Valley region of Riverside County, which together with Imperial Valley form the Salton Trough, or the Cahuilla Basin, also the county line of Imperial and Riverside counties, and to the south the international boundary with the U.S. state of California and Baja California. Imperial Valley is now the home of the El Centro metropolitan area and also an economic center of California's government defined "South Border". Imperial County's economy consists predominantly of government, agriculture, and retail trade that represents approximately 70% of total county employment. Government services account for over one-third of total employment. Agriculture accounts for one-fourth of jobs with major crops of alfalfa, lettuce, sugar beets and carrots. Retail growth has been experienced due to increased population in the Imperial and Mexicali Valleys. In 2005, the Imperial Valley Mall opened, attracting shoppers from the Valley area, including residents and tourists across the border from Mexicali, greatly contributing to the county's retail sales. Tourism is considered the secondary industry of the Imperial Valley. Many visitors come to the area to visit the Salton Sea (California's largest inland lake, which serves as a dumpout point for the overflow and drainage from the IID canal system and ditch drainage) and the Algodones Dunes. The New River and the Alamo River flow from the border city of Mexicali northward to the Salton Sea. 6 30500 NORTHWESTERN HIGHWAY SUITE 400 | FARMINGTON HILLS, MI 48334 | ENCOREINVESTMENTREALESTATE.COM LEASEHOLD STNL FEDEX 2451 Access Way | Imperial, CA 92251 F E D E X P R O F I L E OVERVIEW TENANT OVERVIEW Company: FedEx FedEx today is best known for its air delivery service, FedEx Express, which was one of the first major shipping companies to offer overnight delivery as a flagship Founded: 1971 service. Since then, FedEx also started FedEx Ground, FedEx Office (originally Total Revenue: $69 Billion known as Kinko's), FedEx Supply Chain, FedEx Freight, and various other services across multiple subsidiaries, often meant to respond to its main competitor, UPS.
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