SUBJECT PROPERTY

CVS PHARMACY

15474 West Greenway Drive, Surprise, AZ 85379 CVS PHARMACY DRUGSTORE EVALUATION 15474 West Greenway Drive | Surprise, AZ 85379 TABLE OF CONTENTS

Confidentiality & Disclaimer Contents All materials and information received , advisors, affiliates and/or any third party EXECUTIVE SUMMARY 3 sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable CVS TENANT PROFILE 4 governmental requirements, developability or suitability, financial performance of the PROPERTY PHOTO 5 property, projected financial performance of the property for any party’s intended use or any and all other matters. PROPERTY PHOTO 6 PROPERTY PHOTO 7 directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or AERIAL VIEW 8 completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be RETAIL MAP 9 furnished for review are not a substitute for a party’s active conduct of its own due REGIONAL MAP 10 diligence to determine these and other matters of significance to such party.s or conduct due diligence for a party unless otherwise agreed in writing. LOCATION MAP 11 AERIAL MAP 12 EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. LOCATION OVERVIEW 13 DEMOGRAPHICS 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. makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions.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 in compliance with all applicable fair housing and equal opportunity laws.

2 CVS PHARMACY 15474 West Greenway Drive | Surprise, AZ 85379

CLICK ON THE FOLLOWING LINKS: Google Map Street View EXECUTIVE SUMMARY

OFFERING SUMMARY LEASE SUMMARY PROPERTY HIGHLIGHTS

List Price: $4,970,000 Lease Type: Absolute Net (NNN) • High Volume - Hard Corner Location • 13,069 Square Feet Situated on 1.95 Acres - 615' Frontage Taxes / Insurance / CAM: Tenant Responsibility on West Greenway Drive NOI: $285,056 • Corporately Guaranteed by CVS | S&P “BBB+” Roof / Structure: Tenant Responsibility • Absolute Net (NNN) Lease Structure | Zero Landlord Obligations Cap Rate: 5.75 % Term Remaining: 9+ Years • Ten (10), Five (5) Year Options to Renew Original Lease Term: 25 Years • Strong Store Sales - Over $5.6MM Store Sales - 5.09% Rent- Land Acreage: 1.95 Acres to-Sale Commencement Date: December 19, 2003 • Hard Corner Signalized Intersection of W Greenway Drive and N Reems Road - Drive Thru Equipped Year Built: 2003 Current Term Expiration: January 31, 2029 • Unprecedented Fast Growth Demographics of 22.90% Over 10 Years and Continuous Growth Over Next 5 Years Options: Ten, Five Years Building Size: 13,069sf • 104,059 Residents within a 3 Mile Radius with an Median Income of $77,018

Increases: Flat • In Close Proximity to Valley Vista High School - 2,531 Enrolled Students Guarantor: Corporate Guarantee • Surrounding Retailers Include Walmart, Church's Chicken, Burger King, McDonald's, and Many More

3 Rent Holiday Lease Structure (Last 36 Months of Lease). Seller will Credit $855,168 to Buyer for Rent Holiday . CVS PHARMACY 15474 West Greenway Drive | Surprise, AZ 85379 CVS TENANT PROFILE

OVERVIEW TENANT OVERVIEW Company: CVS CVS Pharmacy is a subsidiary of the American retail and health care company Founded: 1963 CVS Health, headquartered in Woonsocket, Rhode Island. It was also known as, Total Revenue: $131 Billion and originally named the Consumer Value Store and was founded in Lowell, Massachusetts, in 1963. The chain was owned by its original holding company Net Income: $6.0 Billion since its inception until its current parent company CVS Headquarters: Woonsocket, Rhode Island Health was spun off into its own company in 1996. CVS Pharmacy is currently the Website: CVS.com largest pharmacy chain in the by number of locations (over 9,600 as TENANT HIGHLIGHTS of 2016) and total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 7th largest U.S. corporation according to Fortune 500 in 2016. • CVS/pharmacy used to be a subsidiary of Melville Corporation CVS Pharmacy's leading competitor Boots Alliance ranked 37th. • The CVS name was used for the first time in 1964 • The domain CVS.com attracted at least 26 million visitors annually by 2008 CVS sells prescription drugs & wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film & photo finishing • Tenant Highlight 4 services, seasonal merchandise, greeting cards, and convenience foods through • Tenant Highlight 5 their CVS Pharmacy & Longs Drugs retail stores and online through CVS.com. • Tenant Highlight 6

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HEADER 3 Etiam ultrices rhoncus eros, ac consequat sem accumsan sit amet. Sed lacinia feugiat nulla eget blandit. Quisque nisl dolor, placerat ac diam ac, pulvinar scelerisque nibh. Nulla pretium dui sapien, quis pellentesque sem dapibus sed. Morbi rhoncus maximus lorem, vitae mollis libero posuere quis. Vestibulum convallis non nulla at consequat. Ut ut metus felis. Donec cursus nisl ex. Vestibulum nisi nibh, efficitur eget hendrerit et, tristique vel arcu. Quisque in bibendum risus. Phasellus iaculis risus a est rutrum ullamcorper. Praesent feugiat elit vel odio fermentum pellentesque. Donec ornare quis risus ac pulvinar. In vel efficitur magna, non lobortis nunc. In hac habitasse platea dictumst. Vestibulum nunc mauris, cursus vel diam sed, dapibus maximus lorem. PROPERTY PROPERTY PROPERTY AERIAL CVS PHARMACY DRUGSTORE EVALUATION 15474 West Greenway Drive | Surprise, AZ 85379 RETAIL MAP

9 REGIONAL LOCATION AERIAL

CVS Pharmacy CVS PHARMACY 15474 West Greenway Drive | Surprise, AZ 85379 LOCATION OVERVIEW

SURPRISE,

Located about 45 minutes from downtown Phoenix, Surprise is where you can connect all aspects of your life- family, work and recreation. The charming community of Surprise is surrounded by mountain park lands, a regional lake and pristine, open Sonoran desert. Surprise is a city in Maricopa County, Arizona. There has been a rapid expansion that has boosted the city's population to an increase of 281% over the past 10 years. As such, it is the second-fastest-expanding municipality in the greater Phoenix metropolitan area.

The city is the spring training home of the Kansas City Royals and the Texas Rangers baseball teams. These Major League Baseball teams use Surprise Stadium for their activities. As part of the city's Recreation Campus, Surprise is also home to the Surprise Tennis and Racquet Complex (STRC). Since its opening in August 2007, the complex has received numerous awards, including being named the 2008 Outstanding Facility of the year award by the USTA. The complex hosts various professional events throughout the year, including the Outback Champion Series tour, a USTA Pro Circuit event, and many USTA regional and sectional events. In 2009 the complex was chosen as the site for the Fed Cup Quarter Final between the U.S. and Argentina.

13 CVS PHARMACY 15474 West Greenway Drive | Surprise, AZ 85379 DEMOGRAPHICS

14 CVS PHARMACY

15474 West Greenway Drive, Surprise, AZ 85379