Smallman Street PITTSBURGH, PA 15201

OFFERING MEMORANDUM

Aerial View - Rear

32206 smallman street PITTSBURGH, PA 15201

The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party TABLE OF without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to CONTENTS provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner EXECUTIVE SUMMARY 3 disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted CONCEPTUAL PLANS & PHOTOS 9 or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. LOCATION OVERVIEW 20 The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have SVN | Three Rivers Commercial Advisors acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. 309 Smithfield Street, 5th Fl, Pittsburgh, PA 15222 P: 412-535-8050 | F: 412-535-6855 To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any E: [email protected] prospective purchaser should not rely on any such correspondence or statements as binding www.SVNThreeRivers.com Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. All SVN® offices independently owned and operated.

| 2 DISCLAIMER

3220 smallman street

EXECUTIVE SUMMARY

3 | INVESTMENT OVERVIEW SVN Three Rivers Commercial Advisors is pleased to present for OFFERING SUMMARY sale 3220 Smallman Street, located in Pittsburgh’s Strip District. This 3220 Smallman Street desirable 30,200 SF warehouse is a ADDRESS: perfect re-development opportunity Pittsburgh, PA 15201 or value-add warehouse. The property is 100% leased by a long PARCEL ID: 0025-D-00040-0000-00 term tenant paying below market rent. ASKING PRICE: $2,700,000 The building is a one story office/warehouse building with partial floor containing 22,440 SF of gross building area and 7,760 SF of additional two PRICE/SF: $89.40 story mezzanine storage space. It is masonry, metal and frame construction with some stucco at the façade, with a mix of slider, glass block and double GROSS BUILDING AREA: 30,200 SF hung windows at the office space. The roof is a sloped concrete base with rubber membrane. There are two electronically operated overhead doors at LOT SIZE: 0.41 AC the front of the building and two interior roll up doors. OCCUPANCY: 100% The first floor consists of entry to lobby, partitioned storage/warehouse spaces, restroom, and 2 main larger warehouse spaces. The main warehouse SALE TYPE: Re-development / Value Add areas are at either side of the building, both with open warehouse space, steel support beams, metal halide warehouse lighting fixtures and ceilings heights of 18’-20’. One of the main warehouse areas has the 2 story YEAR BUILT: Est. 1900 mezzanine area. The second floor consists of open bullpen areas, 3 private offices, 3 restrooms, and a kitchenette. OVERHEAD DOORS: 2 Exterior; 2 Interior Three-phase electrical A gas forced air furnace heats the first floor workshop areas, and multiple ELECTRICAL: overhead gas space heaters and radiant gas heat for the warehouse spaces. service There is also a 40-gallon gas hot water tank. The office spaces have a roof mounted heating and cooling unit. The building has three-phase electrical FRONTAGE: 150’ on Smallman Street service. All public utilities are available and connected to the site.

The property has 150’ of frontage along Smallman Street and extends back 120’ on either side to Mulberry Way. Site improvements include concrete sidewalks.

| 4 DOWNTOWN PITTSBURGH PROPERTY HIGHLIGHTS

POSSIBLE RE-DEVELOPMENT / VALUE-ADD INVESTMENT OPPORTUNTY Possible to re-develop to multi-family or flex / warehouse. In place cashflow with tremendous upside with below market rents and long term tenant. Proposed 69,000 SF - 74,000 SF multi-family development includes 48 units with retail space and roof top deck. STRIP DISTRICT

PRIME LOCATION Desirable Strip District sub-market in Pittsburgh surrounded by large residential and commercial developments. Location allows for great access and visibility with approximately 8,000 cars passing per 3220 day. smallman street

ACCESS TO MAJOR INTERSTATE The major corridors in the Strip District are Penn Avenue, Liberty Avenue, and Smallman Street, all allowing for access to Interstate 579 and the Central Business District approximately 1.0 mile to the southwest.

5 | RIV-IMU ZONING PURPOSE

The Allegheny, Monongahela, and Ohio Rivers and their riverfronts are valuable cultural and ecological resources of city-wide and regional significance that contribute to the public’s economic, environmental, recreational, and aesthetic well-being. The City intends to improve the ecological health of its rivers and riverfronts for the benefit of the public through regulation of development along its riverfronts. Regulation through the Riverfront (RIV) Zoning District will limit potentially detrimental impacts near the riverfronts while allowing for high-quality, sustainable development and preservation of the diverse character of the City’s riverfronts. The RIV Riverfront Zoning District is intended to promote development of the City’s riverfronts in a manner that:

a. Acknowledges the historic diversity of uses, the varied character, and the economic value of the riverfronts; b. Facilitates mixed-use development that physically and functionally integrates with the riverfront and strengthens pedestrian connections to the riverfronts; c. Maintains and creates connections between the riverfronts and neighborhoods within the City; d. Protects areas of industrial use from encroachment of incompatible uses; e. Creates an environment that supports multiple modes of transportation; f. Promotes sustainable development; g. Improves of the ecological health of the rivers; h. Conserves and enhances riverbanks and riverfronts; i. Conserves, restores, and enhances native riverbank and aquatic plant life, improves river ecosystem health, and supports biodiversity; and j. Improves the scenic qualities and the public’s enjoyment of riverfronts by preserving, creating, and enhancing public views and access to the riverfronts.

The RIV-IMU Industrial Mixed-Use Subdistrict is intended to address areas of the riverfront that are diversifying from their original, strictly industrial nature. It accommodates a variety of higher intensity uses, including light industrial, commercial, and high density residential development. The RIV-IMU Subdistrict is also intended for industrial areas that are focused on research and development and technology-oriented industries.

| 6 RIV-IMU ZONING PERMITTED BY RIGHT

RESIDENTIAL USES Two-Unit Three-Unit Multi-Unit Assisted Living Assisted Living Multi-Suite Residential Residential Residential Class A Class B Residential NON-RESIDENTIAL USES Agriculture Agriculture Bank or Financial (Limited) With Animal Care Art or Music Studio Bed and Breakfast (Limited) Institution Beekeeping Child Care Club

ADMINISTRATOR EXCEPTION

RESIDENTIAL USES Multi-Suite Housing for the Personal Care Residential Elderly (Limited) Residence (Small) (General) NON-RESIDENTIAL USES Outdoor Retail Construction Sales and Service Restaurant, Fast- Car Wash Community Center Contractor Parking Structure [NonAccessory Food (Limited) (Limited) Use] Vehicle/Equipment Vehicle/Equipment Warehouse Service Station Repair (General) Sales (Limited) (General)

7 | RIV-IMU ZONING SPECIAL EXCEPTION

RESIDENTIAL USES Housing for the Personal Care Community Home Elderly (General Residence (Large) NON-RESIDENTIAL USES School, Elementary Vehicle/Equipment Transit Facility or Secondary Sales (General)

CONDITIONAL USE

NON-RESIDENTIAL USES Controlled College or Communication Substance Correctional Custodial Care Excavation/ University Campus Tower, Class C Dispensation Facility (Limited) Facility Grading/Fill, Major Facility Helipad Utility

| 8 3220 smallman street

CONCEPTUAL DESIGNS & PROPERTY PHOTOS

9 |   

CURRENT SITE PLAN    First Second Second Floor Third Floor Floor Floor Mezzanine Mezzanine

18,000 SF 4,440 SF Total Mezzanine SF: 7,760 SF

    | 10  

      INTERIOR PHOTOS

View North from Penn Avenue 11 |

15 EXTERIOR PHOTOS

View North from Penn Avenue | 12

15 CONCEPTUAL RENDERINGS

Aerial View - Front

Aerial View - Rear View North from Penn Avenue 13 | 16

15 CONCEPTUAL UNIT MIX

2 BR FLOOR PLAN QUANTITY

Studio 31 1 Bedroom 11 1 BR STUDIO 2 Bedroom 6

Total 48

Floor 6 10 3 2

Floor 5 12 4 3

Floor 4 9 4 2

Floor 3 9 4 2

Floor 2 9 4 2

Floor 1 0 Lobby & 3,859 SF Retail Space

| 14 0 2 4 6 8 10 12 14 16 18 20

Studio 1 BR 2 BR VERSIONS/REVISIONS: CONCEPTUAL 04.22.2020 Prelim Plans 04.23.2020 Prelim Plans 05.05.2020 Prelim Plans FLOOR PLANS 05.14.2020 Prelim Plans Pittsburgh, PA 15201 3220 Smallman Street 3220 Smallman Street

SITE PLAN

DRAWING NORTH

1 SITE PLAN SITE SCALE: 1/16" = 1'-0" DRAWING NO.

SITE

PROJECT No. 20039.00

VERSIONS/REVISIONS: 04.22.2020 Prelim Plans FLOOR PLANS 04.23.2020 Prelim Plans 05.05.2020 Prelim Plans 05.14.2020 Prelim Plans Pittsburgh, PA 15201 3220 Smallman Street 3220 Smallman Street

FIRST FLOOR

DRAWING NORTH

1 FIRST FLOOR A2.01 SCALE: 1/8" = 1'-0" DRAWING NO.

A2.01

PROJECT No. 20039.00 THIS IS AN INSTRUMENT OF SERVICE NOT TO BE ALTERED, COPIED, OR USED FOR CONSTRUCTION WITHOUT WRITTEN PERMISSION FROM NEXT ARCHI TECTURE, L.P. - COPYRIGHT 2020 (ALL RIGHTS RESERVED)

| 16 CONCEPTUAL FLOOR PLANS

VERSIONS/REVISIONS: 04.22.2020 Prelim Plans 04.23.2020 Prelim Plans 05.05.2020 Prelim Plans 05.14.2020 Prelim Plans Pittsburgh, PA 15201 3220 Smallman Street 3220 Smallman Street

SECOND FLOOR -

THIRD FLOOR

DRAWING NORTH

1 SECOND-FOURTH FLOOR A2.02 SCALE: 1/8" = 1'-0" DRAWING NO.

A2.02

17 | CONCEPTUAL FLOOR PLANS

VERSIONS/REVISIONS: 04.22.2020 Prelim Plans 04.23.2020 Prelim Plans 05.05.2020 Prelim Plans 05.14.2020 Prelim Plans Pittsburgh, PA 15201 3220 Smallman Street 3220 Smallman Street

FOURTH FLOOR

DRAWING NORTH

1 FIFTH FLOOR A2.05 SCALE: 1/8" = 1'-0" DRAWING NO.

A2.05

| 18 CONCEPTUAL

VERSIONS/REVISIONS: 04.22.2020 Prelim Plans FLOOR PLANS 04.23.2020 Prelim Plans 05.05.2020 Prelim Plans 05.14.2020 Prelim Plans Pittsburgh, PA 15201 3220 Smallman Street 3220 Smallman Street

FIFTH FLOOR

DRAWING NORTH

1 SIXTH FLOOR A2.06 SCALE: 1/8" = 1'-0" DRAWING NO.

A2.06

19 | 3220 smallman street

LOCATION OVERVIEW

| 20 LOCATION MAPS

21 | PARCEL MAP

| 22 LOCATION OVERVIEW ALLEGHENY COUNTY, PA Allegheny County was officially founded on September 24, 1788 from parts of Washington and Westmoreland Counties. The County Seat was named the City of Pittsburgh in 1781. In the late 18th century, farming played a critical role in the growth of the area. Because of the areas rapid development in the 1800s, the county and Pittsburgh became a key manufacturing area, naming it the “Steel Capital of the World”.

• The County has a total area of 745 square miles, of which 730 square miles is land and 14 square miles is water. • Three major rivers traverse in Allegheny County, The Allegheny River, The Monongahela River that converge in Downtown Pittsburgh to form the Ohio River. • The County contains 14 colleges & universities and 19 different community, junior and technical colleges.

TOP 10 EMPLOYERS COLLEGES & UNIVERSITIES

1. 6.

2. 7.

3. 8.

4. 9.

5. 10.

23 | Retailer Map PITTSBURGH OVERVIEW

Downtown Pittsburgh and Lawrenceville are only a 4 minute drive from the Strip District.

| 24

29K SF WAREHOUSE | STRIP DISTRICT | 3220 SMALLMAN STREET PITTSBURGH, PA 15201 SVN | Three Rivers Commercial Advisors | Page 11

The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. LOCATION OVERVIEW THE STRIP DISTRICT Since the late 20th century, the area has developed into a historic market district with many ethnic food purveyors, some art studios, antique dealers, unique boutiques, and other businesses setting up shop where trains once delivered produce by the ton. The lack of weekday activity is in someways compensated by retail and leisure facilities which are used primarily on weekends. Particularly in the summer months, there are open-air farmers’ markets, a range of street vendors and facilities to enjoy open air drinks.

Residential developers have begun to convert old factory and warehouse buildings into apartments and lofts. Examples include the Armstrong Cork Factory, Brake House Lofts, and the Otto Milk Building. A mixed- use tower is planned for the Ayoob Fruit Warehouse site.

The Strip District has also become a hub for tech companies in Pittsburgh due to large office and condo developments in the area.

HOME TO

The Strip District is easily accessible by bike and multiple bus routes travel through with stops on Penn Ave and Liberty Ave.

25 | STRIP DISTRICT New deveopments have also included DEVELOPMENT additional Strip District parking options such as The Terminal Building parking, Cork Factory Garage, The Hub at 3 TRYP HOTEL Crossings. 108 ROOMS | HOSPITALITY PENN HOTEL TECHMILL 41 118 ROOMS | HOSPITALITY 73.5K SF | OFFICE PENN PLAZA REDEVELOPMENT ARSENAL 201 300,690 SF | MIXED-USE 141 UNITS | MULTI-FAMILY

THE WAINWRIGHT 19 UNITS | MIXED-USE

2 DOUGHBOY SQUARE 3000 SMALLMAN 17.5K SF | OFFICE 24K SF | OFFICE 2908 SMALLMAN 3 CROSSINGS 1.0 27.5K SF | OFFICE 400K SF | OFFICE

PRODUCE TERMINAL MIXED-USE 3 CROSSINGS 2.0 150K SF | OFFICE

THE JUNCTION OF BLOOMFIELD EDGE 1909 15,930 SF | RETAIL 364 UNITS | MULTI-FAMILY

| 26 STRIP DISTRICT RETAIL OVERVIEW

31ST STREET BRIDGE 16TH STREET BRIDGE

21ST STREET 8 LOWER RAILROAD STREET LAWRENCEVILLE

12 26 4 11 5 9 SMALLMAN STREET 3 13 12 11 2 TO DOWNTOWN 13 1 22 19 PENN AVENUE 1 1 24 10 8 5 21 20 4 14 2 3 7 15 10 17 15 7 18 27 LIBERTY AVENUE 25 23 9 16

6 6

RESTAURANTS/FOOD RETAIL/MISC. Lola’s Eatery 1 9 Cinderlands Warehouse 17 The BeerHive 25 1700 Penn 1 Mahla & Co. Antiques 9 Pennsylvania Macaroni Co. 2 The Forge 10 18 2 10 DiAnoia’s Eatery Luke Wholey’s Wild Alaskan Grille 26 Cioppino Wholey’s Fish Market Pennsylvania Libations 3 Senti Restaurant 11 11 Smallman Street Deli 19 Pamela’s Diner 27 Bar Marco 3 In The Kitchen PerLora Leather 4 12 Morcilla Osteria 2350 20 DeLuca’s 4 Roxanne’s Dried Flowers 12 Sola Salon 5 Poulet Bleu 13 Coop de Ville 21 Cafe Raymond HOTELS 5 The Pennsylvania Market 13 The Dog Stop 6 Church Brew Works 14 Mullaney’s Harp & Fiddle 22 Kaya 1 Homewood Suites by Hilton 6 Audi Pittsburgh 14 Restaurant Depot

7 Pittsburgh Winery 15 Penn Ave Fish Company 23 Roland’s Seafood Grill 2 7 Penn Ave Pottery 15 PNC Bank 8 Savoy Restaurant 16 Leaf & Bean 24 Primanti Bros. 8 Downtown Pittsburgh Dogs

27 | LOCATION DEMOGRAPHICS

DAYTIME POPULATION 18,896 *1 Mile Radius

AVERAGE HOUSEHOLD INCOME MEDIAN AGE $72,730 *1 Mile Radius 33.5 *3 Mile Radius

POPULATION 1 MILE 3 MILES 10 MILES 2020 Total population 16,990 170,173 861,336

2025 Projected population 17,108 169,362 854,572 The Strip District is Median age 38.8 33.5 39.7 a great place to live! According to the Median home value $174,678 $176,662 $157,839 URA, the immediate population has nearly doubled in the last 10 HOUSEHOLDS & INCOME 1 MILE 3 MILES 10 MILES years & is projected Total households 8,791 77,160 384,343 to continue to # of persons per HH 1.9 1.9 2.2 increase. Average HH income $72,730 $73,325 $79,521 Median HH income $50,814 $46,491 $56,839

| 28 For additional information contact:

Jason Campagna Andreas Kamouyerou Managing Director Senior Advisor 412.535.5756 412.535.8062 [email protected] [email protected] www.svnthreerivers.com

29 |