EXCLUSIVE INVESTMENT SUMMARY 24-HOUR WALMART | ABSOLUTE NNN LEASE | STEUBENVILLE,

OFFERING MEMORANDUM EXCLUSIVE MARKETING ADVISORS

MARC MANDEL STEVE SCHRENK Managing Director Director CLICK TO VIEW 484.532.4212 484.532.4213 [email protected] [email protected] PROPERTY VIDEO Investment Advisory Investment Advisory

CLAUDIA STEEB MICHAEL PAGNIUCCI Managing Director Director 412.222.2053 484.532.4172 [email protected] [email protected] Investment Advisory / Financing Financing

Christine Riniti, OH Lic # BRKP.2007002489, a licensed real estate broker in the state of Ohio along with Holliday Fenoglio Fowler, L.P. (Collectively “HFF”)

This Offering Memorandum has been prepared by HFF for use by a limited number of recipients. All information contained herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein. Further, the Offering Memorandum does not constitute a representation that no change in the business or affairs of the property or the Owner has occurred since the date of the preparation of the Offering Memorandum. All analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the recipient. HFF and Owner and their respective officers, directors, employees, equity holders and agents expressly disclaim any and all liability that may be based upon or relate to the use of the information contained in this Offering Memorandum.

Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective investors.

Owner and HFF each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligations to any recipient reviewing this Offering Memorandum or making an offer to purchase the property unless and until such offer is approved by Owner, a written agreement for the purchase of the property has been fully executed, delivered and approved by Owner and its legal counsel, and any obligations set by Owner thereunder have been satisfied or waived.

The recipient (“Recipient”) agrees that (a) the Offering Memorandum and its contents are confidential information, except for such information contained in the Offering Memorandum, which is a matter of public record, or is provided from sources available to the public (b) the Recipient, the Recipient’s employees, agents and consultants (collectively, the “need to know parties”) will hold and treat it in the strictest of confidence, and the Recipient and the need to know parties will not, directly or indirectly, disclose or permit anyone else to disclose its contents to any other person, firm, or entity without the prior written authorization of HFF and the Owner, and (c) the Recipient and the need to know parties will not use or permit to be used this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Owner or HFF or for any purpose other than use in considering whether to purchase the property. The Recipient and the need to know parties agree to keep this Offering Memorandum and all confidential information contained herein permanently confidential and further agree to use this Offering Memorandum for the purpose set forth above. If the Recipient has no interest in the property, or if in the future the Recipient or owner discontinue such negotiations, the Recipient will return this Offering Memorandum to HFF. Investment Summary WALMART ● 100 MALL DRIVE ● STEUBENVILLE, OHIO · · ·

INVESTMENT SUMMARY

Holliday Fenoglio Fowler, L.P. (“HFF”) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a NNN single tenant Walmart (the “Property”) in Steubenville, OH. The Property is situated off Route 43/ Sunset Blvd which boasts over 24,150 VPD and is a main retail corridor in the immediate area. Walmart has been at this location since 2002 and has approximately 8.5 years remaining on their lease. Walmart is traded on the NYSE, Symbol: WMT, and is investment grade with a Moody’s Credit Rating of Aa2. It is the world’s largest public corporation by revenue at $500.3 billion, according to the 2018 Fortune Global 500. They are principally engaged in the operation of mass merchandising and are the world’s number one retailer, with 11,700 stores as of 2017, including discount stores (Walmart), combination discount and grocery stores (Walmart Supercenters and ASDA in the UK), and membership-only warehouse stores (Sam’s Club). Many of the company’s stores are in the US, but Walmart is expanding internationally; it is the number one retailer in Canada and Mexico, and has operations in South America, Asia, and Europe.

$10,950,000 ASKING PRICE

7.30% CAP RATE

$800,000 NOI

8+ Years REMAINING LEASE TERM

4 WALMART ● STEUBENVILLE, OHIO · · ·

INVESTMENT HIGHLIGHTS

Corporate Walmart with The location benefits from Walmart is an Investment NNN lease structure and a population of over 41,000 Grade Tenant and the largest people within a 5-mile radius rental increases throughout and an average household public corporation by revenue option periods income of $61,000 at $500.3 billion

Steubenville, OH is located The Property is situated off on the Ohio/ Rt 43 / Sunset Blvd a main border and is located thoroughfare in the region approximately 40 miles from which boasts 24,150 VPD the CBD

WALMART ● STEUBENVILLE, OHIO 5 · · ·

N

Public Library of Steubenville

J OH N S C O ® TT HI GH W A Y (9,307 VPD)

FORT STEUBEN MALL

6 WALMART ● STEUBENVILLE, OHIO Tenant Overview WALMART ● 100 MALL DRIVE ● STEUBENVILLE, OHIO · · ·

The first Walmart opened in 1962 in Rodger, AK and has since grown into a company with reported 2018 fiscal year revenue of $500.3 billion. Walmart became a publicly traded company in 1970 and has since grown to be the CORPORATE OVERVIEW world’s largest publicly traded company by revenue. Each week nearly 270 million customers and members visit their stores and the company employs over 2.3 million associates worldwide. Headquarters Bentonville, AR Walmart is traded on the NYSE, Symbol: WMT, and is investment grade with a Moody’s Credit Rating of Aa2. It is the world’s largest public corporation by revenue at $500.3 billion, according to the 2018 Fortune Global 500. Ticker WMT (NYSE) They are principally engaged in the operation of mass merchandising and are the world’s number one retailer, with 11,700 stores as of 2017, including discount stores (Walmart), combination discount and grocery stores (Walmart Supercenters and ASDA in the UK), and membership-only warehouse stores (Sam’s Club). Many of the company’s stores are in the US, but Walmart is expanding internationally; it is the number one retailer in Canada and Mexico, and has operations in South America, Asia, and Europe. Walmart US is the largest segment under the Walmart Corporate structure with about 65% of sales and includes store formats operating under multiple Walmart names across the US and Puerto Rico, as well as Walmart.com and Aa2 other e-commerce sites and mobile apps. Walmart sells merchandise in three main categories of grocery, health MOODY’S CREDIT RATING and wellness, and general merchandise, with grocery representing about 55% of sales. www.walmart.com AA S&P CREDIT RATING 4,648+ LOCATIONS IN THE UNITED STATES $283.46 BILLION MARKET CAP AS OF 9/2018

SAMPLE INTERIOR

8 WALMART ● STEUBENVILLE, OHIO · · · SITE PLAN

MALL DRIVE SUBJECT PROPERTY

AVAILABLE SOLD SEPARATELY

NOT OFFERED

FORT STEUBEN MALL

WALMART ● STEUBENVILLE, OHIO 9 FINANCIALSITE PLAN ANALYSIS WALMART ● 100 MALL DRIVE ● STEUBENVILLE, OHIO · · ·

LEASE ABSTRACT

LEASE DETAIL RENT SCHEDULE 100 Mall Drive Description Dates Annual Rent Rent Increase Address Steubenville, OH Base Term (1-25) 8/14/2002 - 8/13/2027 $800,000 Tenant Wal-Mart Real Estate Business Trust First Option (26-35) 8/14/2027 - 8/13/2037 $840,000 5% Guarantor Wal-Mart Stores, Inc Second Option (36-45) 8/14/2037 - 8/13/2047 $882,000 5% Branded as Walmart Third Option (46-55) 8/14/2047 - 8/13/2057 $926,100 5%

Lot Area 16.21 Acres Fourth Option (56-65) 8/14/2057 - 8/13/2067 $972,405 5% Building Size 209,621 SF TENANT RESPONSIBILITY DETAIL Year Built 2002 Lessee is responsible for the full maintenance and repair for Maintenance and Repairs NOI $800,000 the building, including roof and structure

Lease Type NNN Ground Lease Lessee pays all utilites directly, including parking lot Utilities illumination Rent Commencement 8/14/2002 Lessee agrees to provide and keep in force GL insurance naming the lessor as an additional insured. As long as lessee’s Lease Expiration 8/13/2027 Insurance net worth shall exceed $100,000,000, it shall have the right to self-insure Remaining Lease Term 8+ Years Taxes* Lessee pays all taxes for the premises Remaining Options Four (4) Ten (10) Year Options Until the expiration or sooner termination of the lease; lessee Improvements has the right to raze the building and reduce it to slab LANDLORD RESPONSIBILITY DETAIL Lessee shall pay their pro rata share of CAM costs. The annual None budget for CAM costs shall be provided to lessee by lessor annually in advance and shall not exceed 110% of the actual CAM CAM costs incurred for the prior calendar year. Lessee also The Walmart parking lot will be resurfaced and restriped in April has the option upon 30 days prior written notice to lessor to elect to perform its own maitenance of the common areas *The premises is currently being subdivided into its own tax parcel.

WALMART ● STEUBENVILLE, OHIO 11 Market Overview WALMART ● 100 MALL DRIVE ● STEUBENVILLE, OHIO

¤£30 ST11 ST7 ST68 ST644 ¨§79 228 Beaver Creek State Park ¦ ST j ST170 Fernway ¤£¤£30 East Liverpool PENNSLYVANIA ST8

OHIO 76 ST171 ¦¨§ WEST VIRGINIA WEST ST910 ST39 Aliquippa ST989 North Park ST9 j ST2 ¦¨§376 Franklin Park

ST151 ST542 ST332 Weirton 212 Wilkinsburg ST ST39 Raccoon Creek State Park ¤£30 j ¦¨§279 ST168 ST18 ST43 ST28 ST39 ST130 Island Creek Twp ST152 ST164 ST380 Hillman jState Park ST164 PITTSBURGH ST43 Settler's Cabin Park ¤£22 j ST646 State Gamelandsj No 117 ST7 40 MILES Baldwin

ST800 ¤£250 ¤£22 ST151

Whitehall Steubenville Southj Park McKeesport ¦¨§79 ¤£250 ST519

ST50

¤£22 ¤£19 ST7 West Mifflin Mingo Creek County Park ST844 j ST519 ST221 Washington ST150 ST136 State Gamelandsj No 232 ST88 Pease Twp ST231 ST9

ST88 ST800 Richland Twp ST18 ¦¨§79 ST481 Wheeling ¤£40 ¦¨§79 40 ¤£ ¤£19 70 ST88 · · ·

STEUBENVILLE OVERVIEW

Steubenville is the county seat of Jefferson County, Ohio, and sits on the banks of the mighty . The city is known as the “City of Murals”, after its more than 25 downtown murals and holds the motto, “Where you always have a home”. Steubenville is home to almost twenty thousand citizens and is a family friendly community with safe neighborhoods and excellent schools which offer a wide variety of educational opportunities. Steubenville is a full-service city with numerous services and facilities. The city is strongly committed to residential and commercial economic development. Steubenville is home to two institutions of higher education, Franciscan University of Steubenville and Easter Gateway Community College. There is also a total of five public schools in the Steubenville City School District and two private schools. Steubenville is a principal city of the Weirton-Steubenville, WV-OH Metropolitan Statistical Area, which has a population of 125,000 residents. Additionally, Steubenville is part of Greater Pittsburgh, the 20th largest combined statistical area in the United States with an estimated population of 2.7 million. Steubenville is approximately 25 minutes from The Pittsburgh International Airport. Steubenville is easily accessible, convenient and a great location for economic development.

STEUBENVILLE MURALS FRANCISCAN UNIVERSITY OF STEUBENVILLE STEUBENVILLE, OH

WALMART ● STEUBENVILLE, OHIO 13 · · ·

TRADE AREA DEMOGRAPHICS j POPULATION Taylortown Toronto

Rainey Hill Rd 3 MILES 5 MILES 10 MILES East Springfield UV213 2010 Census 24,703 42,927 95,912 UV2

2018 Estimate 23,571 41,137 91,172 UV7 UV43 Richmond Hancock 2023 Projection 23,118 40,404 89,113 VIRGINIA WEST

Island Creek Twp

HOUSEHOLDS Weirton 10 MILES

Harrison Annapolis3 MILES 5 MILES 10 MILES Weirton Heights

646 2018 Average Household Income $62,723 $61,536 $62,076 UV 5 MILES Penco Rd Steubenville Pike Cove Rd 2018 Median Household Income $43,939 $44,800 $47,050 Marland Heights UV152 3 MILES

2010 Census 10,547 18,010 40,733 £¤22

2018 Estimate 10,126 17,328 39,042 Overlook Hills Washington Buena Vista Heights Jefferson 2023 Projection 9,956 17,036 38,266 Sunset Blvd Wintersville University Blvd Joleit Rd Swickards Additions Steubenville Colliers Way PENNSYLVANIA Broadacre Pleasant Heights Cross Creek Twp

Eldersville Rd State Line Rd Brooke Wayne Twp Mahan Ln WEST VIRGINIA UV7 Steubenville Twp Allegheny St Mingo Junction Hooverson Heights OHIO Rockdale Rd

1:105,300 Valley Glen 0 Parlett1.25 mi

0 2.05 km

HERE, Esri UV151 UV2

14 WALMART ● STEUBENVILLE, OHIO EXCLUSIVE MARKETING ADVISORS FINANCING ADVISOR MARC MANDEL STEVE SCHRENK CLAUDIA STEEB MICHAEL PAGNIUCCI Managing Director Director Managing Director Director 484.532.4212 484.532.4213 412.222.2053 484.532.4172 [email protected] [email protected] [email protected] [email protected] hfflp.com Investment Advisory Investment Advisory Investment Advisory / Financing Financing