EXETER PROPERTY GROUP DEVELOPMENT EXPERIENCE

VISIT www.exeterpg.com COMPANY OVERVIEW

EXETER PROPERTY GROUP Exeter is a full-service real estate investment and management company that was founded in 2006 to focus on real estate as property and operating specialists. The firm operates in North America and Europe. Exeter’s vertically integrated team of professionals is highly skilled in the acquisition, disposition, development, leasing, and property management of logistics, industrial, and related business park properties. These skills allow the team to provide tenants with the most functionally- designed, keenly-selected, and well-maintained properties in the market.

Drawing on years of experience across multiple real estate market cycles, Exeter’s Principals believe that superior returns for our investors are generated by constructing diversified portfolios of properties that meet tenants’ needs for value2 proposition and functionality. Due to our investment track record and reputation as a “Best-In-Class” operator, Exeter has become one of the largest owners of global industrial real estate over the past decade.

This expertise is afforded by the firm’s network of offices across North America (headquartered in suburban Philadelphia, with regional offices in Atlanta, Baltimore/Washington D.C., Charlotte, Chicago, Columbus, Dallas, Houston, Indianapolis, Memphis, Phoenix, San Francisco, Southern California, South Florida, and Mexico City) and Europe (Dublin, Düsseldorf, London, Luxembourg, , Midlands UK, Paris, , and Warsaw). INDUSTRIAL PROPERTY SPECIALISTS

Exeter’s decentralized local presence offer unique advantages to tenants: Over 600 Properties »» Build-to-suit development Owned and Managed »» Buy-to-suit in More Than 50 Cities »» Tenant fit-out managed by in-house construction managers »» Leases and renewal contracts executed with in-house asset Across North America managers and Europe

SEATTLE

GLASGOW BOSTON UNITED ALLENTOWN IRELAND KINGDOM NEW YORK DUBLIN CHICAGO HARRISBURG PHILADELPHIA AERODROME SALT LAKE CITY GREENOGUE MANCHESTER BALTIMORE NETHERLANDS BUCHHOLZ BYDGOSZCZ SAN FRANCISCO COLUMBUS CANNOCK ZWOLLE WASHINGTON, DC BERLIN INDIANAPOLIS CINCINNATI DENVER NORTHAMPTON UTRECHT POLAND WARSAW ST LOUIS NORFOLK LONDON UNNA LOUISVILLE MOREDIJK VENRAY LAS VEGAS RALEIGH DŰSSELDORF CHARLOTTE BELGIUM LOS ANGELES NASHVILLE GREENVILLE MEMPHIS LUX GERMANY PRAGUE LUXEMBOURG CZECH REPUBLIC PARIS SLOVAKIA PHOENIX CHARLESTON ATLANTA FRANCE DALLAS AUSTRIA SWITZERLAND HUNGARY AUSTIN JACKSONVILLE

LYON HOUSTON ORLANDO SAN ANTONIO TAMPA ITALY SOUTH FLORDIA MARSEILLE

SPAIN

MADRID

MEXICO CITY EXETER OFFICES EXETER OFFICES ACTIVE MARKETS ACTIVE MARKETS DEVELOPMENT & CONSTRUCTION MANAGEMENT

»» Exeter’s development team has completed nearly 15 million square feet of development and redevelopment projects and has a $1 billion development pipeline which will add an additional 15 million square feet. »» The Exeter professionals have 25 years of development experience, hold LEED Green building accreditations and have completed over 100 projects on behalf of U.S. and international corporations. »» Exeter’s internal construction and development team collaboratively engages in site selection, design, development, and construction to provide industry-leading real estate solutions for both build to-suit and speculative tenants. »» By working with top corporate and logistics real estate executives across the globe, we provide facilities that meet users’ needs for:

»» Cost competitiveness »» Transportation access »» Sophisticated material handling »» Sustainability »» Efficient facility design and operations REDEVELOPMENT

»» Exeter is skilled at redeveloping well-located, older-vintage industrial buildings. This capability enables us to serve strong tenant demand for occupying modern space in “last-mile” locations - historically, some of the most competitive sites to secure. »» Re-use and modernization serves to concentrate land use, implement sustainable design and building systems that conserve water and fossil fuels, and create more livable workplaces that provide employees modern amenities, more natural light and better indoor air quality.

BEFORE AFTER

BEFORE AFTER LEASING

»» Exeter views leasing as a natural extension of its hands-on asset management services and therefore handles the majority of its vacant space leasing activity (and 100% of all renewal transactions) in-house. »» Numerous tenants have expanded within the Exeter portfolio into multiple locations due to our broad geographic reach, high quality of our buildings, and our in-house management services. This focus, driven by Exeter’s National Accounts Team, has resulted in nearly 100 corporations having now entered into leases with Exeter in more than one location. »» Exeter leverages its global presence to build and maintain tenant relationships with corporate heads of major warehouse users and over 50 third-party logistics (“3PL”) providers in the U.S., Europe and Asia. These relationships with major national and global corporations have been built on providing the right facilities across multiple locales and accommodating tenants as their businesses evolve. PROPERTY MANAGEMENT

»» Exeter is a hands-on landlord that directly implements its leasing, asset management, and property management with internal team members. »» This philosophy allows Exeter professionals to hold personal and long term relationships with the Heads of Real estate, CFOs and CEOs of the largest corporations in the U.S., Europe and Asia »» Close and ongoing communication with tenants allows time and capital to be spent on the areas that provide the most meaningful impact to their business. »» Even before acquisition, Exeter’s property managers across the regional offices are integrated into the acquisition due diligence process to ensure quality of review. As such, each acquisition undergoes physical property review by multiple members of the regional offices augmented by third party civil and environmental engineers and Exeter’s centralized legal and lease contract review, resulting in the most thorough acquisition due diligence in the industry. »» Establishing a physical presence in each primary market allows Exeter to gain a deeper and more nuanced understanding of market dynamics while being highly responsive to brokers and tenants. DEVELOPMENT PIPELINE Development Pipeline

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9 10 TOP 15 DEVELOPMENT SITES 14

PIN BUILDING CITY, STATE MARKET SIZE (SF)

1 Polk Lane Industrial Park Olive Branch, MS Memphis 1,631,120

2 Whitestown Business Park Whitestown, IN Indianapolis 1,600,000

3 Carlisle Distribution Center Carlisle, PA NYC/Central PA 1,100,000

4 150 South 5600 West Salt Lake City, UT Salt Lake City 1,041,638

5 Buchner Land Mesquite, TX Dallas 1,025,000

6 River Ridge Corporate Center Jeffersonville, IN Louisville 1,010,880

7 Pendergrass Commerce Center Pendergrass, GA Atlanta 1,000,000

8 Alessandro Commerce Center Riverside, CA Inland Empire 814,630

9 Buda Distribution Center Buda, TX Austin 611,520

10 Exeter Air Commerce Park Orlando, FL Orlando 561,750

11 Arcadia Distribution Center Blakeslee, PA NYC 510,510

12 Meadow Oak Commerce Center Charlotte, NC Carolinas 502,500

13 Old York Road Bordentown, NJ Central NJ 433,700

14 4520 Coral Ridge Drive Coral Springs, FL South FL 371,332

15 83rd Avenue & Buckeye Road Phoenix, AZ Phoenix 359,040

Total 12,573,620 PROJECT EXPERIENCE Project Experience

ARLINGTON COMMERCE CENTER DALLAS, TX

User: Williams Sonoma, UPS, Everflow Supplies, Vistar Corp, Train U.S., Ricoh Americas Corp, American National Red Cross Size: 2,865,990 SF in 5 buildings

Arlington Commerce Center is one of the premier industrial parks in Arlington, the highly prized, centralized location between Dallas and Fort Worth. Exeter created the five-building park through the acquisition of two distribution facilities, followed by our development of three more facilities.

Building A and B were existing Class A big box warehouses which Exeter leased to 100% occupancy.

Building C was built on land that was acquired in conjunction with the purchase of Buildings A & B. In 1Q2013, Exeter completed the design, negotiated tax and infrastructure incentive agreements, and secured entitlements to develop a 821,502 SF cross docked facility. During construction, Exeter’s discussions with the retailer Williams Sonoma ultimately led to a signed lease because of our ability to work with the municipalities to modify the design, negotiate additional incentives, and secure permits to meet Williams Sonoma’s expedited timeline to occupancy. The project was completed in June 2014. Project Experience

ARLINGTON COMMERCE CENTER (CONTINUED)

Building D and E: Despite intense demand for industrial in Arlington, this 100+ acre site was available for purchase for a protracted period because of entitlement complications. Ultimately, because of Exeter’s long time development and planning expertise and our experience with the local land use authorities, we were able to secure easements and permits to re-route a creek that had bisected the property. With these approvals secured from the U.S. Army Corps of Engineers and the City of Arlington, Exeter would be able to develop two facilities totaling over 1.3 million SF. As such we put the land under contract in 2015 to speculatively develop Buildings D and E.

Building D was a 263,380 SF warehouse that Exeter designed, obtained permits and incentives, and developed. Construction commenced November 2015 and the project was delivered 8 months later. Our leasing process actually led to the sale of the asset to Everflow Supplies, a national plumbing supply company, in 1Q2017.

Building E was a 1 million SF cross docked warehouse that Exeter developed in 2015. During construction, Exeter’s leasing efforts led to discussions with UPS. Exeter utilized the site’s excess land to accommodate the tenant’s additional space requirement and above-average parking needs, and thus was awarded the 10-year lease. Exeter negotiated the expansion and a staged occupancy plan with the City, and then delivered the 1.1 MSF building in November 2017. Project Experience

MASON RANCH HOUSTON, TX

User: Rooms To Go; A national third party logistics provider Size: 637,160 SF in 2 buildings

Mason Ranch is comprised of two big box warehouses that Exeter developed speculatively in Katy, Texas. This submarket west of Houston is the metro area’s rising big box locus, as it is at the of I-10 and Houston’s third , Grand Parkway. Tenants such as Igloo, Rooms to Go, Walmart and Medline have recently selected this submarket because it services not only metro Houston and the Gulf Coast but also San Antonio and Austin with far less congestion than other Houston submarkets.

Exeter designed two cross-docked distribution facilities on the 39-acre site. Zoning and entitlement were approved during due diligence, and permitting was procured shortly after closing.

Construction started on Building I in January 2015 and was completed in September 2015. This 373,860 SF cross- docked facility features 62 dock doors, 4 drive-in doors and 32’ clear ceiling height. It’s 100% occupied by Rooms To Go.

Exeter executed a full-building, 10-year, build-to-suit lease for 263,300 SF in Building II with a prominent 3PL company. Construction started in January 2018 and is expected to be completed in July 2018. The building is expandable to 320,000 SF. Project Experience

WHIRLPOOL CORPORATION HARRISBURG, PA

User: Whirlpool Corporation Size: 1,116,928 SF

Exeter has recently (October 2017) completed the construction of a 1.1 million SF distribution center that was 100% pre-leased to the Whirlpool Corporation. The facility features 32’ ceiling clear height, cross-docked loading, 55’ x 50’ column spacing, 80’ “speed bays” at the loading docks, 185’ truck courts, and energy efficient LED lights on motion sensors. The facility is U.S. Green Building Council LEED-certified.

Exeter was awarded this 10-year lease due to our ability to aggregate enough rail-serviced land (80 acres) to support a facility of this size in Central Pennsylvania, which is highly prized as the key distribution market to the New York- New Jersey-Pennsylvania population. Project Experience

329 WYCKOFF MILLS ROAD EXIT 8, CENTRAL NJ

User: Modway, Inc. Size: 634,495 SF

This 49.7 acre site was purchased in July 2016 to develop a 634,495 SF state-of-the-art, Class A, distribution facility on a speculative basis. The site is well-located in the Exit 8/Princeton-Hightstown industrial submarket of New Jersey and offers immediate access to I-95/New Jersey Turnpike, which conveniently services New York, Philadelphia, and the East Coast. The building will feature 36’ clear ceiling height, ESFR sprinkler system, 111 dock positions, 4 drive-in doors, and abundant car and trailer parking. Construction has commenced and the building is expected to deliver in late 2017.

In October 2016, Exeter Property Group executed a long-term lease for the entire building with Modway, a major distributor of living, dining, bedroom, outdoor, lighting, and office furniture. The building’s features, location, and 35-year PILOT tax abatement program, which will hold real estate taxes constant during the abatement’s duration, were an ideal match for Modway to expand their operations. Project Experience

351 AND 501 LAKESIDE PARKWAY DALLAS, TX

User: Keystone Automotive (LKQ); Benco Dental Supply, CTDI, KC Millwork Size: 584,185 SF in 2 buildings

Exeter purchased this 14-acre site in May 2013 to develop a state- of-the-art distribution facility. By accelerating the customary development pace, Exeter completed the design, negotiated the tax incentive agreement, and secured entitlements prior to closing on the site. We commenced construction in June 2013 and delivered a 231,754 SF shell building at 351 Lakeside Parkway in March 2014. Keystone Automotive (LKQ) leased the entire facility on a long-term basis in May 2014.

501 Lakeside Parkway was the second phase of Exeter’s Lakeside development in which we developed a 352,431 SF warehouse. Construction commenced in March 2014, and the shell building was delivered 9 months later. Exeter worked with a national dental supply company to secure incentives and consolidate its central U.S. distribution into 135,000 SF. The remainder of the building was leased to two users on a long-term basis in early 2015. Project Experience

1323 BREWSTER CREEK BOULEVARD CHICAGO, IL

User: Animal Supply Co.; 200,000 SF available for lease Size: 421,403 SF

This 34.61 acre site was originally placed under contract by a competing developer for a build-to-suit. The prospect renewed their lease and the developer dropped the land. Upon learning the site was becoming available, and due to Exeter’s successful lease up of a 400,000 SF building adjacent to the site, Exeter placed the land under contract to develop a 421,403 SF state- of-the-art distribution facility which will include the following features: 32’ clear height, cross-dock configuration, 48 dock doors, 52’ x 50’ bays with 60’ speed bays, ESFR sprinkler system, and T-5 lighting. Additionally, the site has additional land to provide for a building expansion or an above market standard level of automobile or trailer parking. Exeter successfully negotiated a contract requiring the seller to deliver a pad ready site and allowing Exeter to fully entitle the site prior to going “hard” on the contract. Upon closing during the third quarter of 2016, Exeter immediately commenced construction and the project was delivered in July 2017. Project Experience

2251 NEWLINS MILL ROAD LEHIGH VALLEY, PA

User: Neovia Logistics Services, Chart Fast Size: 281,473 SF

Exeter Property Group designed and developed this 281,473 SF Class A warehouse in 2012. The extremely well-located site is less than 2 miles from PA Route 33 and less than 3 miles from US Route 22. The facility features 32’ clear ceiling height, 30 dock doors (with 7 knockout panels), ESFR sprinkler system and abundant parking.

Exeter quickly completed the first lease transaction with Neovia Logistics Services before the building was even delivered. The ability to provide a secure truck court and trailer parking area was a key factor in securing this lease transaction. Project Experience

BOYNTON BEACH I - III 1200 - 1220 SW 35TH AVENUE, BOYNTON BEACH, FL

Size: Boynton I: 55,594 SF Boynton II: 91,479 SF Boynton III: 54,000 SF

Exeter created this three-building industrial park through the phased acquisition of two existing buildings and subsequent development of a third building. The park is within 2.5 miles of I-95 and is in the heart of the land-constrained, densely populated cities north of Miami including Boca Raton, Boynton Beach and West Palm Beach.

Exeter acquired the two standing buildings in March 2015 and rapidly leased the vacant assets to 100% occupancy. Utilizing excess land on the site, we expanded Building II by 53,500 SF, to create a 91,479 SF asset. These Class A buildings were built in 2000 and 2005 and feature modern attributes including tilt-up concrete construction, 35’ ceiling clear height, narrow aisles using wire-guided forklifts (to allow for greater density in racking), ESFR sprinklers and are 100% air conditioned. Project Experience

BOYNTON BEACH I - III (CONTINUED)

Subsequently, Exeter created the Building III development opportunity by acquiring an adjacent 4-acre land parcel, which was owned by a truck terminal operator with whom Exeter has an existing tenant relationship. While developable land is highly sought after in this populous submarket, Exeter was able to secure the parcel in an off-market sale because its only road access is through property owned either by the terminal operator or Exeter.

Consistent with market demand and its sister Buildings I and II, this asset is 54,000 SF, with 30’ ceiling clear height and configured for one to two tenants, in a front-load configuration. As such, Exeter has created a business park environment which enhances the identity of the assets. CONTACT INFORMATION Contact Us

North America National Acquisitions, Leasing and Asset Management

LEASING & ASSET MANAGEMENT Rob Jones Kevin Shea Ryan Roberts (610) 955-3034 (502) 974-8415 (484) 532-5048 [email protected] [email protected] [email protected]

ACQUISITIONS NATIONAL ACCOUNT MANAGERS Matt Brodnik Bob Waitkus Dennis Durkin (610) 234-3218 (610) 659-2209 (215) 284-7788 [email protected] [email protected] [email protected]

North America Regional Acquisitions and Leasing Officers

NORTHEAST MIDWEST SOUTHWEST Henry Steinberg Jason DeFilippis Barney Sinclair (215) 688-2838 (847) 867-4937 (214) 476-6554 [email protected] [email protected] [email protected] PA, NY, NJ, MA, CT IL, MO TX, OK, CO Scott Dougherty Jeff Grabowski Barry Stokes (443) 250-7740 (908) 217-1556 (214) 587-1756 [email protected] [email protected] [email protected] DC, VA, MD IL, IN TX, OK, CO MID-SOUTH SOUTHEAST WEST Steven Stein Todd Carter Thomas Wang (609) 226-6670 (678) 641-6331 (415) 971-1960 [email protected] [email protected] [email protected] OH, KY GA AZ, CA, WA, NV, UT Andrew Brown Matt Cochrane Cristina Virgilio (317) 614-7266 (704) 258-9147 (267) 634-3281 [email protected] [email protected] [email protected] IN NC, SC AZ, CA, UT Bobby Daush Nick Sands Greg Pearson (901) 616-1813 (407) 952-2266 (949) 378-3607 [email protected] [email protected] [email protected] TN FL Southern CA OFFICE MEXICO Fred Knapp Ricardo Serrano Cejudo (214) 244-7068 +52 (1) 55-5453-1498 [email protected] [email protected]

VISIT www.exeterpg.com