INDUSTRIAL

OFFERING MEMORANDUM SAIA LTL FREIGHT 1081 FLIGHTWAY DR | DE PERE, WI 54115 CONTENT

INVESTMENT SUMMARY 4

FINANCIAL OVERVIEW 6

PROPERTY SUMMARY 9

AREA OVERVIEW 11

EXCLUSIVE LISTING AGENTS:

ALEXANDER HARROLD VP & Senior Director

DIRECT 1 310 919 5790 MOBILE 1 310 977 1651 [email protected] LIC # 02009656 (CA)

BROKER OF RECORD KYLE MATTHEWS LIC #58254-90 (WI)

INVESTMENT SUMMARY

Excellent Freeway and Airport Access – The property offers close proximity to the Green Bay Austin Straubel International Airport, and just 5 minutes away from the

Interstate 41 (2.7 miles away) This property permits almost immediate access to the interstate systems catalyzing an efficient distribution model for “last mile distribution.”

Recently extended lease with a long term history – SAIA ($1.65 billion in revenue), reupped their lease through 12/31/2022, 2022 will mark the 20th year at this location

for SAIA

Tight Industrial Market, Driven by E-commerce – The Green Bay Industrial Market has been characterized by terrific demand this cycle, which has been solidly positive

each year since 2009. That, combined with relatively limited construction, has kept the vacancy rate airtight at 2.10%, within roughly 50 basis points of its historic low in

early 2019. Thanks in part to e-commerce, more recent demand has been strongest in the logistics sector, where the inventory is primarily concentrated around the port

of Green Bay and the major highways (HWY 41) leading to Milwaukee and the rest of the Midwest.

Passive investment - Landlord has limited responsibilities, tenant covering all interior, exterior, roof, and structure repair and maintenance. In addition, landlord receives

a passive increase in cashflow with 2.00% rental increases yearly computing an average cap rate of 8.82%.

| MATTHEWS REAL ESTATE INVESTMENT SERVICES | 4 SURROUNDING TENANT MAP

11% COVERAGE RATIO

MATTHEWS REAL ESTATE INVESTMENT SERVICES | 5 TENANT SUMMARY SAIA 1081 Flightway Tenant SAIA LTL Freight (NASDAQ: SAIA) De Pere, WI 54115

Type of Ownership Fee Simple List Price $1,159,000

Guarantor SAIA Motor Freight Line, LLC Cap Rate - Current 8.65%

Lease Type Industrial NNN Average Cap Rate 8.82%

Landlord Responsibilities Roof/Structure Replacement GLA ± 9,120 SF All Insurance, Utilities, Taxes, Repair and Lot Size ± 3.50 Acres Maintenance of: HVAC, Windows, Doors, Electrical, Plumbing Facilities, Structural Tenant Responsibilities Support Walls, and Roof of Building In Year Built 2001 Good Repair, Sidewalks, Driveways in Clean Order Total Doors 11 Lease Commencement 1/1/2002

Lease Expiration 12/31/2022

Rent Increases 2% Annually

Term Remaining 3 Years

One (1) Three (3) Year Option 2.00% Options increases annually FINANCIAL OVERVIEW TENANT OVERVIEW

SAIA MOTOR FREIGHT LINE Saia is an American trucking company, or a less than truckload trucking company, that originated in Houma, in 1924. With original operation occurring in Louisiana and for the first fifty years, expansion came after 1980 when coverage began reaching into more states within the South.

Today, Saia’s network of 166 terminals and approximately 10,500 employees covers 42 states in the U.S. as well as Canada. Through our network of partners, we serve the balance of the U.S. including and , plus and . Through our operating service groups -Saia LTL Freight, Saia Logistics Services, and LinkEx -we provide complete transportation and logistics solutions.

±10,300 $1.3 BILLION ±163 1924 EMPLOYEES REVENUE LOCATIONS YEAR FOUNDED

7 | SAIA MOTOR FREIGHT LINE | TENANT OVERVIEW PROPERTY OVERVIEW THE OFFERING 1081 Flighway Address De Pere, WI 54115

SITE DESCRIPTION

GLA ± 9,120 SF Lot Size ± 3.50 Acres Coverage 5.98%

CONSTRUCTION

Construction Metal

Total Doors 11 AREA OVERVIEW “Genuine. Forward Thinking. Down to Earth. Rooted in Strong Values.”

DE PERE, WI DEMOGRAPHICS

De Pere is a city located in Brown County, Wisconsin, and part of the Green Bay Metropolitan Statistical Area. Whether you are visiting our community Population 3 Mile 5 Mile 7 Mile for the first time or returning, De Pere has everything to make your visit 2025 Projection 15,428 57,998 115,025 an exceptional experience. De Pere’s historic downtowns offer unique 2020 Estimate 14,551 56,233 112,429 shopping, casual and fine dining, sport bars, a wine bar, a piano bar and 2010 Census 11,858 51,806 106,374 live entertainment including a comedy theatre and several live music Growth 2020-2025 6.03% 3.14% 2.31% venues offering a wide variety of music from alternative rock to classical. The atmosphere is friendly and inviting to everyone. Do not be surprised Households 3 Mile 5 Mile 7 Mile to find yourself enjoying music or food amongst old friends and new of 2025 Projection 6,379 23,834 47,805 every age appreciating everything our diverse community has to offer. You 2020 Estimate 5,982 22,946 46,418 can also enjoy a walk along the Fox River before or after dinner just steps 2010 Census 4,780 20,667 43,023 from your hotel, favorite shop or restaurant. When visiting, you will have Growth 2020-2025 6.64% 3.87% 2.99% the opportunity to enjoy the incredible quality of life our residents and Income 3 Mile 5 Mile 7 Mile businesses experience every day. Average Household Income $115,298 $100,837 $91,333 CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offering Memorandum contains select information pertaining to the business and affairs of SAIA LTL Freight located at 1081 Flightway, De Pere, WI 54115 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. EXCLUSIVE LISTING AGENTS:

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;

2. You will hold it and treat it in the strictest of confidence; and

3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. INDUSTRIAL INDUSTRIAL

EXCLUSIVE LISTING AGENTS: ALEXANDER HARROLD VP & Senior Director

DIRECT 1 310 919 5790 MOBILE 1 310 977 1651 [email protected] LIC # 02009656 (CA)

BROKER OF RECORD KYLE MATTHEWS LIC #58254-90 (WI)

OFFERING MEMORANDUM SAIA LTL FREIGHT 1081 FLIGHWAY | DE PERE, WI 54115